The Express.
London, England, 1850-05-28 00:00:00

MANCHESTER. May 27.

BTOQit•XxoararoL—knees were rather firmer, with a
greeter disposition emcee brokers to do business. Landahlre awl
Yorkshire stocks maintain tke advance obtained last week.

antywviimA. May 27.

Broaa-Exonawan. —Tam taarkat was steady Or day, and
prim+ were tderably well supported, although not mach boohoo
was trattrooted. ahrewabary and lUrolugham wars dons at
71 dta., and Yorks Newcastle, and Berwick' at 13/.llr. ad.

LIMPS, May 27.
Sfook-Excra Awcat—We had again a fiat market, sad
very little doing. or/At westerm, which opened at 331. dosed at 3.ti;
end Yost sad North Midland' were done at lat.

6RIS7'OI, Illesy N.

eTOOI-EIOIMANOTL—Th• okork•t retolood dlll Ira &s-
-now wusad ooteLhich marked the oporotlooo of Haturday lag, sad values re.
Lathed

YORK, May 27.

SioOK EXCILIMEL—Orest Northern, 7; Berth British
rrotesatos, Q. lb. Ikt.; York, Newcastle slid Borttelr. ISt.

WATERFORD AND KILKENNY.

The half-yearly meeting of the directors and pro-
prietors of this compels, took placeeeterday at the King's
Anal. Palace yard, Westminster. F. _y S. BUTLIIit, Bag., took
the chair. There were not more than thirty present. The
rustles having upraised it as their opinion that it was un-
neeessary to read the printed half yearly report of the
directors, the ehainnut put it for adoptioa.
Gas. MOILSON said that before the report wan adopted
he felt it necessary to point out to the meeting a few points
contained In former reports, *kick required some expla-
nation. It appeared that in November, 1849, the directors
told the propristen that the line to Jerpoint would be
open In the following December. It was not, however, open
till the 10th of May, 1850. How did it happen, then, that
such a daisy occurred ? He saw also that the proprietors
nue especially directed to thank Mr. George /told for
getting up some steam-boats, as giving valuable 'add-
uce to the railway. Their returns were, however,
lets now than when these steamboats were warted.
He wanted to know whether any of the fonds of the com-
pany had been, or would be, appropriated to there steam-
boats. In making this question ban's, he had received ano
waive answer from a director. He would now put it to the
Oarsman. He also wanted to know whether the liabilities,
amounting to 30,0001., had been liquidated, or whether the
actions which had been instituted against the company for
the payment of pecuniary claims, and amounting in number
to 67 were compromised, or were still pending. The Board
of Dineen premised, in March, 1849, to ant a saving of
6,0001. a year in micas ways, but they had only effected a
saving of 1,400 n for the last year. He wished to know how
that was.

Mr. BATES said that be regretted exceedingly that there
was no more favourable report to lay before the meeting, but
it wee not the fault of the p resent directors that such was
the case. They had dose everything within the range of
possibility to improve their financial condition, and he had
urns satisfacion in finding that Captain Mono. was able to
discover so little fault. He felt responsible for the report,
and be wished to justify every particular of it. There was
only one item in it with which he was dissatisfied. He felt
convinced that the direeton bad tried to carry retrenchment
and economy to the tallest extent. No railway worked
cheaper, undersimilar disadvan tun ; working with very large
engines with only 114 ladle open, which involved a consi-
derable loss, their expectes were only Bid. a mile. If their
line was worked with small engines, each as were on the
C3rk and Bandon line, the expenses would only be 51. per
mile. In reply to the question why the line to Jer-
point bad not been opened before May, he bad only to say
that the contractors had a claim which the company refused
to pay in crib, end the eontequence was that the men were
removed. Legal proceedings were commenced an I not con-
tinued. With regard to toe other matter, he felt that Mr.
Reid was entitled to the thanks of the company. The com-
pany had purchased one steamer, and destroyed the mo•
nopoly that existed, and considerable benefit bed been
derived from it already. He was not cognisant of any
money having been authorised by the board to be paid for
the expense of running th. se stesmers.
Gan. M'Llton and air. Sarum: supported this statement
by saying they were not aware of any of the company's
money having hien appropriced to meeting the expenses of
the steam speculatinn.
Mr. BATES continued by saying that he agreed with
Capt. Morton with regard to his objections to the report of
the waggon traffic. The reason why it Lad not btea sooner
done away with was, that at first they had bean roi-led.
When he was in Ireland, as far as he could bear, it was
about paving its way, but at a subsequent investigation, on
finding a loss from it of from 71. to Si. per week, it was done
away with immediately. He was sorry to say that their
liabilities existed to the full, but that the actions had been
dropped, with the exception of :hue. He could not agree
with the opinion of the chairman, with regard to the prefer-
ence shares, as he felt sure that the lino would be a profit-
able one, especially if they could get as tar as Kiltorkan by
the time the Irish South Eastern was opened.
The report, from which we take the following passage, was
adopted, as well as the balance sheet:

The directors state " that negotiations are now pending
for the settlement of all disputed claims, and it is hoped tr-
ibes the next half-yearly meeting they will have been finally
arranged. They eke announce that the claims of the com-
pany against the Irish South E astern Company are in • fair
way of being adjusted. They state that there is every reason
to expect that the Irish South Eastern nisi be completed and
opened to the junction at Kilkenny in September next. In
order, however, to secure all the advantages to be derived
from the completion of the Irish South Eastern Railway,
they remind the shareholders that the extension to Knock-
willies' should be opined at the came time. This, however,
must depend upon their taking up the preference shares,
which the director, hope they will shortly be in a position to
allot, the hill to manor's. their issuer having already passed
the House of Commons. The director, SiaLy express •
belief, owing to tee reduced price of labour and materials,
the remainuer of the line will be constructed so much under
the coat of the first portion, that when the whole a finished
to Waterford, it will be on the go • cheap railway."
Mr RADCLIFFE then read the contract between the
director, and Mr. Burke, relating to the wotkin_g of the line,
which was put to the meeting and adopted. Mr. Radcliffe
stated generally the nature of the various clauses in the bill
proposed to be laid before parliament.
Capt. MORSON opposed this bill; and a long discussion
then ensued on a subject of an agreement which had been
entered into between the directors and acme fiends of Capt.
Morton, who had advanced 10,0001, Capt. Mormon being ap-
prehensive this bill would render such agreement void.
Mr. Saone reed a list of forfeited shares, amounting to 77,
and a emulation was adopted by the meeting, confirming the
declaration of forfeiture.

Tile following resolutions were then put and agreed to,
Captain Mason having strongly objected to that one which
had reference to the bill sought for horn parliament, confer-
ring the power of granting preferential shares, and having
proposed an amendment, it was rejected.
That the bill now read to this meeting, for enabling the company
to raise further capital and for other purposes, be, and the same is
hereby approved; and that the resolution passed at a special
general meeting of the company, held on the 30th of November.
1049, whereby the directors were empowered to apply in the then
next session of parliament fur a bill (among other things) to an.
thorlac the crsa&n and issue of preference shares or debentures to
the extent of 120,009/., be, and the mme is, hereby modified and
altered a, On as the provisions of the bill now read are at variance
with such resolution.

that dieiiirectora be empowered to affix their common seal of the
company to the oopy of the said bill as now submitted to, and ap.
proved by, this meeting.
That the reeelution passed at a general meeting of the company
held on the 30th of November, 1919, for increasing the number of the
director. front eight to tea, be, and the same is, hereby rescinded.
That this meeting do confirm the declaration of forfeiture made
by the directors at their beard meeting of the 17th inst., partici.
ladled in the list hereto annexed, and they are hereby declared for.
kited itooonlingly.
flat Charles Itobert Colman, Eeq., an] Major.Cleneral D. Wleod
be, and are hereby, elected directors of this company.
That the draft of a contract between the directors and Mr. Joseph
Burke for the working of the undertaking of the company on the
terms and conditions therein mentioned, and Gar other purposes
therein specified, and which draft has been now read to thismeeting.
and is signed by the chairman for the identilication thereof, be, and
the same is, hereby app and adopted ; and that the directors
be, and they are here, empowered to affix the common seal of the
company to a deed to be prepared to accordance therewith, with
such modifications, if awry affecting the substance of the con.
tract, as may be found or expedient.
The meeting then separated.

TEE STAMP DrTY PAID ItY THE RAILWAY PAS,EN
OEILS ASSURANCE COMPANY for the last quarter amounted
we perceive, to the sum of 691. 2s. 3d., the amount in the
previous quarter being only 431. lls. 6d. This company,
which commenced business on the 2nd July last, has. since
The claims open
that period insured travellers by railway against accidents
during the jouruey to the extent of 94,209 single. journey
retickbyetLaccalents have re
tthicke
coetamisepauneydioran
wdh2irapeerydufficonal
calved compensation are ten in number.
SHROPSHIRE UNION RAILWAYS AND CANAL.—A circular
bas been Loud, signed by the secretary of this company,
stating : " An eztraordicary general meeting of the proprie-
tors having bun convened by the directors for the 4th June,
col
mammiinttsfterusotnedfutuo
lintfoorpmaalyothue, tbhivatuinocorigninse-.
to wander the bill as altered by the committee of the House
7u:cid, the only alternative left to the directors was
. or to accept the clause reducing the
371:
rioceamtt
2. a
doomf
withdraw
it
shares from 201. to 101., instead of to 01. 10s. If the bill is
withdrawn, the shareholders will continue liable to be called
upon for the remaining 131. 10s, instead of 31. 10s. The bill,
u ■ltered, provides, that in case the company shall make
any further calls (cot exceeding 31. 10s per share) to pay off
the canal debt, such calls shall receive interest after the rate
of 4j per cent. out of the canal us. The proprietors
will have to decide as to the ennui they will adopt."

- •
Tae BELFAST JVNCTION RAILWAY.—THE VIADFCT
OVER TM! BOYI4II.—We believe we may state with confi-
dence that this stupendous undertaking will be commenced
ere long. The Chancellor of the Exchequer has granted the
sum of 100,0001 for the purpose of completing the junction
line. We have this on good authority.—Netery R.gnininer.

NIWILY AND WARRINFOINT RAILWAY.—We widentand
that at last an arrangement has been conalsded between this
railway company and Mr. Dorgan, by which the letter will
get the line into his hands on lease from the 29th of this
vionth.—Netery TelqnspA.

DUBLIN Sithithe.—(From the livernan'a foirnat
of May 22.)-Bhiues ham been very quiet ; the tendency is
' rather downward. The principd variations were in Hiber-
nian Bank and City Debentures, which each declined about
11. Great Southern andWeenn, 306; Midland Great
Westarn, 246; Dublin and Drogheda, 27 ; Dublin and
Kingstown Halves, 11/ ; Dublin and Belfast Junction, Ilf ;
Dundalk and Enniskillen, 46; Hibernian Bank, 256 ; Royal
Rank, Ilf ; Peninsular and Oriental Stearn, 726 ; Wicklow
Copper Mine, 146 ; Mining Company of Ireland,46 ; Grand
Canal New Stock, 226 ; Patriotic Insurance Company, 71 1
Ballot-offies Debentures, 1)4 ; City Four per Cent. Deben-
tures, 201 ; Dublin and Kingstown Four per Cent. Deben-
ture., b 96; Omit Southern and Western Five per Cent.
Debentures (14 years), 1006.