The Express.
London, England, 1850-03-01 00:00:00

RAILWAY MEETINGS.

YORK AND NORTH MIDLAND.

The half-yearly meeting of this company was held
an T►arday in the Da Orey Rooms, in the city of York;
B. B. Ty:isms, Esq., In the chair.
The mat tithe company hating been affixed to the regis-
tered list of sharer-Aden,

WY. GRAY, El., the sexretary, 'read the report of the
directors, of which an abstract bee already appeared in oar
The CHAIRMAN then obeerved that he would maks •
few obeervatioas respe:ting the legal proceedings which hail
ben instout,ii against Mr. Hudson, and the ether old di-
ree•i=, respecting the premiums on certain shares which
they had appropriated. Tiiere was a certain sum of mousy
which had been taken by Mr. Hudson on account of land at
Lludesberough above the award, which they had insisted
should be at once repaid Wore any other matter was
megociated. Ti. at was refused, upon which they took
summary steps by putting Kr. Hudson in the Bank-
ruptcy Cart f.r that claim—by this means they
°drained ample security ant 1 the question was tried,
and an act° n wet commenced, which would come
on hernial at the melees next week, unless Mr. Hudson suc-
geed° t in Nbtain;:4 delay may putting in a demurrer. The
next claim was in respect of the) mitten reForted on by the
committee oI Investigation, including the premiums on shares
which he Led appripii W eed. The huh takes every means to
/
have bias Wed against whic had been drawn by the
best legal talent, and on which they had obtained the opinion
of onaisent barristers, that they would obtain the same for
*we , they were suing him. He had himself gone up to
Loudon tir see that alt the arrangements were complete, and
he believed that nothing but want of funds on his part would
',mint them obtaining the money, and he had no suspicion
of any smash want of funds. The amount of their claim was
GS,taail., besides the claim for the land at Londesborough,
ansueseing to 16,0001., making in all above 82,0001. Thai
had had • segouatinn with Mr. Philips= on behalf of Kr.'
litadses is respect of these claims, but it had proved abortive.
Tree committee of investigation took the ground thataltlsough
Mr. lite.son had incurred great liabilities over and above
those to Wbin be had made a personal profit, that It was aot
lowa' t quity to proceed against him in respect of them.
The dinette= katoonsarrod is that view, and had filed bills
against Inmost', la =veto, the matters in which he had
Blade • pr It for liimerlL It did appear, however, that if
Bar. liedson persisted la resisting these fair demands, it
=
be
right to praised scan= kiss on other liabilities on
he did boa mho= individual relit, sad that MM.

:hey should adopt i: it met the e;:proval of the ehareholeers.
They b of alit Mod r bill spinet the ether late directors, Mr.
J emu pod • th,t ger t:eiurn had escapl .fined that the
ease eg-tnat nisi was a b ed one, bat he had dived to abide
the de:A.: ~: td the direeton. Thet amount at the chins wa.
2,okh':., and it was screed that be should pay 1,0001. in
101tialletilIli of the dahlias apes him in r. specs of thee,.
sham. They would get this set sum cleat of
ell level v and a lay. Atwater case was that
of Sir Jobs Biapsos. The claim against him was 1,4a1.
In roan treaties of his Most services to the compatty, his
num-row entendasees in Lenthea os its business, and the
feet teat he was a good customer to the company, they re-
coismaded that 5001. he accepted in full of the demand
setsing lien. Ir,:h r.spiet to Mr. Havi•s and Mr.
/Whet:leo* they had resets to hope that they would also be
att.: in arrange with them. There was isnot/et cue—that of
•h • late Me. NieloAeon. His administrator Lad paid above
14,0001. i t swore% of e and interest, end c mad. ?erg his
estate was howittent, they thought the further claim against
his reprewetstive sheuld be abandoned-4:r eicly as Mr.
Nicholson had near realieed any premium ...n thin, titan.
The Channels them proceeded to t :plain that the suit be
tame the company and Mr. Crawahay, the contractor, in
which a claim et 142,000/. was involved, was still before the
' refer. e, and the fluent:yrs had every hope of a satiefac-
tory result There bad been a claim against th• mby the
e infeseter on the abandoned Leeds line, which amounted to
113,5121, and oa which a gum f 13,1251. had been accepted.
A claims respecting income tat had also bees greatly ra-
diated. The Lancashire and 1%411211in, Company hail had
sink* served on them to accept their joint liability on the
Hell and Selby lease. The March-lase St 'taut in Leeds'
had been re-opened, and they were doing a large business
there which previously had been trammeled at the station of
another company. Negotiations were also vending for fur-
ther impeding their truffle. They were using every effort
to close ine capital recount as loon is possible.
The re sleeked of Captain Sandeman and Thomas Price,
Esq., as directors, was unanimously agreed to.
Teen were two vacancies in the board, and three candi-
dates were prnpowd—Samuel Priest:man, Esq., of East
Moist, near Hull; /dr. Stacks, of Halifax ; and Thomas
Chstlesworth, Erg., of Leeds. On a show of bands the two
former gentlemen wire Netted.
The report was then adopted, as also a resolution declar-
ing a dividend of 11. per mat., payable on the 15th of
March.
Resolaitinne, *auctioning the various arrangements made
' by the directors, were adopted, and after some proceeding.,
which were devoid of public interest, the meeting separated.

GREAT NORTHERN.
Iff sterday the aeventh half-yearly meeting of pro-
rioters was held et the London Tavern, Bishopsgstr-street.
'file chair we. taken at II o'clock by Mr. EnstuNts Dam-
SOK, N.P.
The report stated :
"In the autumn of last year, that portion of the line
which completes the rstlwav communication with Lis.coln-
shire, Lancaatire, and the West Riding of Yorkshire. wee
opened kr traffic; and the Great Northern trains bare, since
that period, been running between Frerborough (rid Lin-
coln and Drbeastei), Wakilisld, sad Leeds. In the course
of neat month. toe abort branch from Elaottingley to Burton
Salmon, Ilea/ Fi rrybridge, will be opened for traffic, thereby
corrpleti g the communication between Doncaster and Yolk
sad the North.
"At Leeds coayrnient station

has been is.

eared. Ina the necessary buildings are in progress.
"A portion of the South Yorkshire Railway was recently
opened to Doncaster, and the Great Northern trains have
commenced carrying coals from that district. From the ex-
cellent quality of these coals, and the reduced price at which
they can b supplied on the Great Northern lire, a large
tnffic ruust tesu.t ; suiaible arranAnnents are in progress at
all the stations for the development of this traffic.
"From the engineer's printed report it appeals that the
line between L ',piton and Peterborough may be coral.
dently expected to be open for traffic in August next. The
works of the London a7.d other stations to Pete. borJugh
have been contracted for by public tender, on uoiOsetory
tersin• the pans for the buildings being of a plain and sub-
stantial character. _ . .

" A eontrect for the fifteen wiles from Corby by Grant-
ham to 11 uitham, on which occur rati.er heavy works, re-
quiring a longer time to complete than the rest of the Towns
I..ne has been let to Mr. Jackson, who Itsa actively Com-
menced operations. The remainaer of that line, from the
Loop Juaction north of Peterborough to Corby and north of
Ileaffitam to Retford—together about 41 miles, and conipa-
naively light works—wilt be hi so as to be reedy for tratic at
theism' time as the fifteen miles above mentioned, and the
director expect to see the whole of these works accurnplisheel
in the coon* of next year
" By the balance sheet sent out to the proprietors on the
20th instant, of the capital received and expended to 31st
December, 1849, It is shown that 5,408,1674 was the sum
expended, and the C ropany having r•wen to raise capital
to tha amount of 8,264,4004, a balance of 2,694,2774
remained at that date to meet the existing liabilities of the
Company, and the further coat of constricting the works
and providing additicnal plant. Whether sub balance wi-I
be suffi tient tor all 'bete purpeses is a question often asked
by the proprietor, and one that has engaged the cocstant
attention oe the directors ; and to enable proprietors t t form
their own judgment, the following statement is submitted
to them

77tet;reat Northern Company may raise capital to the
MIME of

The amount expended to December 91, 1949, as per . .
basace•sbrir. to that date, was

Available balm* at eapital, Dee. 31, ISt% for winks
and sterna imposes 54378,643
From which baburcededuct existing Bald:Utica
on account of wane, stations, land, and
materials
Other liabilities :
Amount required to provide additional work.
log stock
F.•timaial cost tor oat year of manaltwami,
engineering, and surveying, law and parka
mtatary experms, office expen-ea ; and also
1, tenet on capital (ala eft 1:2,60i407, pay.
able frowsy 13, an 1 July 13, 1.4.10 ... :06,000
t nether cam to by proviani for completion of
the works of the bast Lincolnshire hall-
way, shoat !3,000
Cost to this tkongsay of amulring the Benton,
Stamford, and Birmingham (Maniford
Wiabench; nitarequeatly coo-
promi.ing the minding to that company.
of 6 per cent. wr union ; and of chub-
lug, in Ina of ntaking that line, the petit.
lege of running Grim Northern train' over
the Eastern Counties par.illel line, between
Peterborough and Wisbeach, about
2,302,633

Balance applicable to the oceetrnetion of the re-
maining it tailcoat the .'Town' Llne"
"As these works are not costly, the directors coach& that
any farther capital required will be of incons.derableamenne.
It apposes from the statement of accounts that the helixes of
net prOCII renutioinn le the hands of the company amounts
to the sum of 18.6341. 84. The direct ,n recommend that
out of that sum 10,0001. be appropriated to meet the dividend
upon preference snares, being As. lOid. per shale, or at the
rate of 5 per tent. per annum thereon, the Name to be paid
after the 31st of March next, in the manner explained on
the c attiched to the snip. Before the general meet-
ing in Auger. nine, the conditions will hare been complied
with unlit which 5 per cent. interest has been hitherto paid
out of capital upon the reciatered shares of the compusy :
the directors, therefore, think it right thus early to intimate
their intention to ceaso to nay is ot, st out of capital after
the current half year, Ca., 30A June next."
From the capital acmunt le appears 1 that, up to the 31st
of December, 1114:0, there had been received 5,775,6331.
Ba.
Teel

Cii&IRMAS coneuded a Isagtby spetch by mein

.
the adoption of the report.
Mr. GRAHAM HUTCHISON, one of the candidates
for a seat in the beard, moved the following amendment:
That the report be received;" with the following realm
Lion added, " That the line between Aeltern and York be
contracted for forthwith, and completed before the works
between Peterborough and East Retford an proceeded with
r than our existing contract. render absolutely nate
nary." One great reason for adopting this course was, he
tai., the cheaper rate at which that portion of the line Right
Ibe con eructed. Mr. Cabitt bad estimated the cost at les
than 1G 0001. per mile ; and he believed it would be consi-
derably less than that, if the works were let in several con-
tracts, A erect reduction had been made in many Instances
in Scotland by the ad..ption of that principle ; in one cue,
the sum of 97.0001. was reduced to 67,0001.
The CHAIRMAN would at once admit that the cheapest
souse was to let the line in short lengths and to pay in
ready money. (Laognter.)
Mr. HUTCHISON proceeded to read a letter front Mr.
Miller, the engineer of the Edinburgh and Glasgow line,
guillotine out the advantages connected with the immediate
conatracUoa of the Ilse homAskern to York.
Capt. HALL seconded the amendment.
The CHAIRMAN Paid the meeting was aware that he
had the honour of holding a seat in the House of Commons,
and that there were in that house many persons who wished
that no such ration as Hansard had ever existed. (Laughter.)
Notwithstanding this he was coral* astonished to find a
gentleman preposieg an amendment completely at
variance with one proposed by him in August last.
In August last Mr. Hutchinson proposed an amendment to
the elect that the winks on the down lines should be imme-
diately stopped. (" No, no.") Tim adoption of his present
amendment would suspend the utility of the money laid out
on a contract which had been entered into. lie hoped that,
for the sake of their own consistency, and in accordance
with the contii'esso hitherto reposed in their directors, the
meeting would reject the amendment.
Mr. WALTERS maintained that the company would mist
over the linos of the York and North Midland and the
whirs and Yotlvhire Companies at an actual lam. In-
stead of the 33 per cent estimated for working expenses ha
believed that 40 per sent. would be the actual amount of
charge.
Mr. AUDUS was advocating with much earnestness the
construction of the line from Aslant to Yoh, when
A SHAREHOLDER salted Lim whether he was not a
landowner nn the prnk cted line ?
Mr. AUDUS admitted that he was.

fMseeafe;iiTiaeT;;ted ;Itou-teoilaugtter.
Mr. HUTCKII3O,I'd amendment was then put, and lost on a
show of 'undo..
The Hon. PROPRIETOR said, that although his motion
had been rejaeted, as ha had had a great number of proxias
entrusted to him, he should demand a poll..
Mr. Ui.tauow, of Glasgow, and Mr. Omvas, of Balk,
immediately proceeded to m adjoining room tot the purpose
of taking the votes.
Mr. FUNK tiODY moved as ma amendment : " That the
directors' report be received, and that a committee of consul-
tation (seven), be appointed from the shareholders, with
power to inquire into the put sad proposed Umuctions of
the conomay, with a view to report to the proprietors as to
saw anima of topical required to complete the works sow is