The Express.
London, England, 1861-01-02 00:00:00

COLONIAL BANK.- (THIS DAY.)

The forty-eixth half-yearly general meeting of the
.hareholders in this company was held at the London Tavern
thin day. CICARLIL, MARtiaL, Esq., in the chair, to receive
the report of the proceedings of the corporation, and for the
dualist of five directors in place of the gentlemen who go
uutby rotation. . .

Mr. Clasen?, the secretary, read the following statement
of the debts and meets of the corporation on 30th June.
Imio, and of the net protit auto duriug the half-year
then ending, and which is laid before the proprietors by
the director, in pursuance of the provisions of the charter :
" Delta. CircuLtioo, 2p,4201. 10.. 101. ; depoeita, bills
parable. aml other liabilities, 1,552,2701. to. 101 ; paid up
capital, 500,0004 ; reserved fund, 6F1,10.16/. 3a. tad.; net
prone, 37.014/. 12a, Id. ; total, 2,441631/. 10s. sd.
" Asiatic —Mpecie, 2111,8541. 16e. id.; due to the bank in
the colones on bills demounted and purchased, including
those past due, 1,065,7751. ea.; due to the bank in the
colonies on current aremante, 4.1,00141. 14e, 51.; due to the
lank is Loudon on bills remitted, cash at bankers, kr.,
1,110,1741. Is. lid.; lank premise, and furniture in London
and the colonies, 4,742/. . 41; total, 2,441,631/. 101. sd.
" To the above satisfactory statement the directors have
only to add, that their latest advice, from the broaches
show that the business was going on prosperously.
They, therefore, recommend that out of the net
profit reported above, which amounts, after provid
ins fur income tax and for load and doubtful debta, to
:6%51441. 12, M., a dividend be made .4 7% per cent. for the
half Isar ending .10th June, 1/460, heing at the rate of 10
per cent. per annum on the peid.up capital of the corpora-
tion, which will require 23,0011/., leaving 12,044/. 12a Id.
to be added to the reserved fund, which will then amount
to w 1,940/. 17s. 9.1."

The CHAIIMAY said the report contained all the informa-
tion he had to give them, and he had nothing to add but to
congratulate them on the prosperity of the bank. which bad
enabled the directors to recommend a dividend of 5 per
cent., and at the same time to make a handsome
addition to the reserved fund. It had been inti-
mated by some of the shareholders that they would
have pe,ferred a larger dividend, and a smaller addition to
the rev-reed fund, but the directors thought the safest
course to pursue was to put then, in a position to provide
against any aoidents hereafter. (Hear, hear.) He moved
that the report be received and adopted.
Mr. WHEELER seconded, and the motion passed tumuli-
moualy.
A resolution, declaring a dividend of S per cent. free of
income tax foe the half-year ending dOth June last, was
then married : and John Bioxam EN., John Gurney
Hoare, Fig. Charles kfarryat, Fou., Thomas Henry Milner,
~
Fey., and William George Flyndman Whisk, R.N.,
were re-elected directors ; and Yr. T. Daniel Hill, auditor.
A vote of thanks to the chairman and directors doled the
proceeding..

GRAND raaNa. RAILWAY COMPANY OF
CANADA.-(THIS DAY.)

A general meeting of the share and bondholders
of this company was bald et one o'clock at the Loudon
Tavern ; Mr. T. BARING, M.P., in the chair.
The report, which hrliakirevioualy appeared in the Zrptvas,
as
having been taken
The CHAIRMAN commenced by referring to the circular
issued to the shareholders in October, in which the
directors said they did not consider it desirable
that a meeting should be held until Mr. Roes
and Mr. Blackwell, the president and vicepresident in
Canada, had arrived in this country. Thom gentlemen
were now present. The report gave all the facta which
were known to the directors. He would not repeat those
facts, but would compare the company @
tion now with its position when the shareholders
met in March last. At that meeting authority was
given to issue bonds to the amount of 1,500,0001. ;
omimilerable time of course elapsed before that decision
was milked in caned.. The public subscribed for •
very small amount—soarody any money was produced for
the company; therefore their position as to money matters
was very much the mrne as it was last March, while
the wants of the company were more praising than
were at'that period. in order to avoid that competition which
was so injurious to all parties& convention was entered into
last summer by the five leading railway compattie• of
Canada, the fulfilot of which would no doubt be attended
with good results. Both the local and through traffic of
the Grand Trunk Line would probably have been fully
equal to the expectations formed had it nut been
starved by the want of money. (Hear, hear) The
traffic beyond Sarnia had been left unprovided for. The
question now was, how the company was to obtain the
money required. In his opinion, if any remedy was
secured for the existing evils, it could be obtained solely by
means of union among the shareholders and ;
and a resolution would be submitted for a committee in
which both would be fairly represented.
Mr. OILIER said, having recently been in Canada, be must
may that the cost of some parts of the line was excessive. He
should like to know what was the cost of the line from
Detroit to Huron

fi,WCIIAIKuAY wad it cost 450,c001., sad was GO mile*
11r. G tr.. 4 had no hinitatioe, as an engineer, in saying that
it ought to have been made for 5,0001. • mile. He believed
the rail. of the line generally would not last more than 12
or 15 years. The only cry of the board amidst the difßcul•
ties which presented themselves was "Give, give."
A SIMAKCIIOLDER would be glad to know whether an sp-
plicatioa had lately been made to the Canadian government
for insistence, and if so, what was the result? (Hear, hear.)
Mr. HASTIUDtiS moved " That a select comniinee of six
=Orviz., two preference bondholders, two ordinary
ders, and two shareholders--he appointed to confer
with the directors as regard, sending a commission to
CllOAda, and as regards all the affairs of the company." The
vital gamin's for them to deal with that day was bow they
should male money, and he hoped the disc-union would be
confined to that point. (Hear.)
Mr. WHlltlllt, in seconding the motion, dwelt on the
akeolute necessity cleaning mosey by some means or other
for the speedy development of the troffie. Let that object
be secured, and be was wannced the company would soon
be in an improved position. (Hear, bear.) Let them en-
deavour to pay their debts, and get the line in good work-
ing order. (Hear, berm.) At the same time the expenses
should be reduced as far as poesible.
Mr. Tuoar said before more money was mimed he would
like to know what use the judgment crediton iatonded
to rush. of their judgment. (Hear, bear.) There should
also be • searching inquiry with regard to the chimes of
jobbing and extravagance in Canada. (Hear, hear.)
The Commis, being urged for • reply to the quisMen
rspecting assistance from the Canadian primmest, stated
that the had memorialised that government on the
subject, and that the government had appointed a commis-
sion of inquiry, but had made no declaration of an inten-
tion either to afford or withhold assistance. (Hear, hear.)
Mr. Cosrenies complained that the second pre-
fereoce bondholders were induced to raise money by
unfounded representations as to the position aoa
means of the company. He referred to a ducttruent hailed
by the board in support of this view, expressed hi be-
lief that the amnion were liable to an action at mom=
law, and concluded by moving that one second &Aerators
bolder should form pan of the proposed committee.
This amendment baying been seconded by MUM DACIA,
Mr. HAIITILIDGZ and he would &mead his resolution by
proposing that the committee should consist of seven per.
sobs, with power to add to their number.
Mr. CLAJUI hoped the meeting would pone before taking
say step tending further to embarrass the company. The
want of mesas of which the chairman complained was
is • peat degree the result of a want of coon-
deuce is the onnogement. (Hear, hear.) He contended
that the committee ought to consist solely of shareholders,
who were the primary owners of the property. He con-
chided by bringing forward • resolution in socordusse with
this view.

ifWhAltril laid. LS • representative of the first bond-
holders, he thought that all isterasta should be included.
The meeting was proceeding wh ear report left,

SITTINGBOURNE AND SHEERNESS RAILWAY.
(THIS DAT.)
This afternoon a special meeting of the proprietors
was held at the offices, 51, Kieg Wilham•street, City ; Mr.
L tl. Manarn in the chair.

A revolution was agreed to authorising the directors to
borrow 13,0001., in aooordanoe with the ooropany's (Increase
of tnpital) Act, lel4l, on mortgage or bond, at such rates of
iatermt, at such timeN and generally in such manner as the
director. might deem tit soil determine.
This was the unly businees, and the meeting adjourned.

Tan CioNDEMNID PRISONE/L TIIIMI.—A petition
is io men. of signature to her Majesty the Queen, praying
fur a respite of the culprit !fawn' Twigg, the Journeyman
bricklayer, of Hil,,toe, who was coridenated to death at the
late Staffordshire swims, for the murder of his wife while
is a state of drunkenness. The memorialists ask that his
life may be spared on the ground that the deed was nut pre-
meditated, and that the sentence may be commuted to
penal servitude for life. The petition has been got op by
the solicitors to whom Twigg's defence was Intrusted.
During the past week the prisoner has exhibited the same
resignation to his probable fate which has marked his con-
duct since his apprehension. He listens with avidity to the
instructions of the chaplain, who most samilsously attends
upon him. On timidity Twigs had an interview with several
of his rshaises, and yesterday he spent the greater part of
the day with the chaplain of the prison. The evemtion Is
still expected to take place on the morning of saturdry next.
—lVa•crArtmpton tl.rcestrle.