The Express.
London, England, 1850-03-12 00:00:00

RAILWAY MEETINGS•

SOUTH STAFFORDSHIRE.
The half-yearly meeting of the shareholder. in
this urdertakag was held at the George Hotel, at Walsall,
yesterday. Mr. CHAZLIS buns in the chair.
The following is an abstract of the report :
" The directors are new enabled to report to the pro-
Isidore the completion of the whole length of their railway.
All causes of delay with reference to the passenger traffic on
the Dudley branch are so far overcome, that an almost im-
mediate opening of this last remaining portion of the line '
for passenger traffic may be relied on. Negotiations are
now in progress for an adjustment of all differences to which
the subject of leasing the line gives rise between this
company or their proposed lessees, and the other companies
in the locality, and which the directors sincerely trait will re-
sult in the united support of ell 'sides to the bill now before
parliament, for giving lmat authority to the lease. This bill
will shortly be submitted to the shareholders for their ap-
proval in obedience to the standing ordus of parliament.
The directors have takes measures since they received the
authority of the proprietors in November last, to put the
borrowing powers of the company in operation, and should
they be able to procure loan, to the requisite amount, will
not be under the necessity of making any further calls on the
proprietors. In the absence of that necessity which the de-
thistles of a dividend would involve, the directors forbear to
give any revenue statement, ia es much as such could only
Lead to imperfect coecludess in reference to the traffic tad
prospects of the line." Is • subsequent paragraph it was
stated that the entire bed, of directors retired at this meet-
ing, and that in the boll now before parliament powers
were applied for to reduce the number of airman.
A statement of menete showed that the groan receipts on
sham capital have bean 877,4801. ls. 81. ; in this sum the
traffic returns for the ear 1849 are included, amounting
to about 11,2831. Thenos' expenditure, including
80,5861 10e. 3d. for " Lary and parliamentary ex.
pass," has been 712, 2a. 104., Laving a balsam dee to
beakers of 35,480 L la. 4d.
The report was adopted after • brief discussion.
On the question of electing new directors considerable die-
cession arose, which was put an end to by a pledge from the
chairman, that as each same yr proposed, it should be ao-
companid by • declaration that the party held a sufficient
number of sham.
Mr. John B. Pays, of Birmingham, was elected • director
in the place of Sir Bayard Seem Bart. On the question for
the se.deetioe of Mr. Booth, the representative of the Lon-
don and North Western interest at this board, an answer
was elicited from Mr. Booth to the effect that the company
h. tad had withdrawn their opposition to the ro-
les. of the line- that in a conferees. between Mr.
'Less semi CaptaL Hsieh, on the part of the London and
Nee* Wolin bard, as Saturday, all the matters L
had boa amicably adjusted. Mr. Booth was accord-
re-elected.
r. ROBERT SCOTT, late M.P. for Walsall, and
chairman of the Birmingham Canal Company, said that ha
was still opposed to the lease ; therefore, be declined to allow
his name to be put in ncsaination. At the same time he
most emphatically disclaimed the unfounded rumour set
afloat, that tholes gentleman laterested in the Caeal Company
had ever acted adversely to this railway at its board.
Mr. Smith, of Hadley, Lard Ward's agent, was elected,
in the place of Mr. Todd, of Maaeleastar ; Mr. Haines, of
Birmingham, was elected in the stead of Mr. R Scott ; and
Mr. Adams, of Walsall, and Mr. Chance, of Birmingham,
IMO elected to supply the remaining vacancies.
The remaining routine burineas having been transacted,
the proceedings terminated with a vote of thanks to the
chairman, and to the engineer, for having concluded the
works within the estimates.