The Express.
London, England, 1850-07-25 00:00:00

NORTH STAFFORD'S iIRE RAILWAY.

Yesterday the half-yearly mating of this compare
j
was held at the railway stapes at StekseeporieTrent. J. L.
Ettoeino, Beg., M.P., the chairman of die board oldie. etas,
presided. The report read by the secretary appealed in all
EKelf resterdety-
es CHAIRMAN, In moving the aeloptice of the report,
said, he was happy to state that with reference to the
political condition of their affairs (so to speak) his
tongue was in • great measure loosened, and that
he was enabled to say what had bee. done, and
what remained of the policy of the company still
to be sanded ant. Any mores which bad bee. m-de or
might be made was only such as might be deemed essential
for the protection of the interests of this proprietary. The
directors had made the sacrifice in this—in the not
being able to lay before their proprietors the sort of oppod-
tion they had had to contend with. Since their last meeting an
abstract of the agreement with the London and North West-
ern Company had been sent to every shareholder; there were
Matters of detail still in dispute. If It were thought advis-
able s complete copy of that agreement should be sent to
every shareholder, but be thought it would be inexpedient
to read • long technical document at that meeting. (Hear.)
He would next call their attention back to the month of Feb.,
1815: at that time an gemeat or agreement existed
between the London and Birmingham Railway Company and
the ChurnetValleyCompany. There were terms between these
two companie a,ack.nowledging that the projects d ChurnetVal-
ley line was the direct route to London, and that it should, to
soon as it was complete 1, have the through traffic to London
pus over it, but should at be inexpedient to tarry out this
part of the agreement, the Churoet Valley line was still to
receive the amount of the traffic; any disputes in carrying
ant this agreement to be referred to the Bo,rd of Trade or to
arbitrators to be !appointed by them. Shortly after the date
to which he had referred, the Pottery line was projected, and
Mr. Glyn urged its projectors to amalgomate with the
Caurnet Valley line, and looking to the agreement to which
he had referred and to the support which the undertaking
might be likely to receive under such circumstances from
the London and Birmingham Company—looking, too, to
the opposition which they might receive from that com-
pany, it was thought advisable to amalgamate the Churned
Valley with the Pottery line, as suggested by Mr. Glyn;
and he (Mr. Ricardo) believed at the time that amalgam'.
tics took place they became seised of that agreement be-
tween the London and Birmingham and Churnet Valley
line for securing to the letter the proceeds of the through;
traffic. Shortly after that time • pre ject was set on foot
for amalgamating the London and Birmingham and Grand
Junction Companies ; it was thought that the interests
of the Pottery line might be jeopardised by such
an arrangement, therefore a petition was got up
setting forth that unless the through traffic war accurst to the
pottery line as previously agreed upon, the amalgamation
would be opposed. Thereupon Mr. Olin acid that this peti•
tion must no: be presented ; that it would be regarded as a
hostile act; and he, as representing the London and Bir-
mingham Company, and the chairman or the Grand Junc-
tion Company, signed an agreement to the effect that the
through traffic from Manchester to London, and southwards,
should go over the Pottery line. This agreement had been
strengthened by subsequent correspondence, and although
be did not now wish to say anything of a character to produce
animosity, his wish being rather to allay it, he did believe
that but for the committee which had been ap-
pointed, they would have obtained the fulfilmeet of
the meet in all its integrity from the London
and North Western Company. He was disposed to think,
however, that the terms which they had obtained were
nearly as good as they were entitled to under the original
agreement ; they were to have their share of the through
traffic, not only between Manchester and London, but to
the intermediate places. They were also to participate in a
share of the cm* traffic, as between Chester and Holyhead
to Derby and the E sat, to all places south of Boston. At
present, however, there were many matters to be
arranged they had obtained the through traffic
from Crewe to Derby, but not that from Man-
chester to Crewe : there were differences yet to ad-
just between them and the Lan& n and North Western
Company : the traffic returns they had received from
that company were still the eubject of dispute; they (the
North Staffordshire C smpany) had checked the through
traffic to Derby, and the returns tenni the clearing house of
the London Company did not coinciae with their own esti-
mate. He hoped that before next year all these matters
would be adjured ; and that they would not only get a share
of the profile of the through &raffia, but that tney would
actually pus ever their lice—this being an element essential
to the development of th, ir local traffic. The too. gentle-
man went on to remark how completely their directors had
been embarrassed in their negotiators with the London and
North Western Company, in consequence of the suspicions
attaching to them from the fact of a committee having been
appointed to examine into the high crimes and misdemeanors
of the North Staffordshire boar*, which board of directors
was at the time seeking justice for its shareholders at the
hands of another public company. Committees of ir quirt'
were always bad and always objectionable ; they tended to
paralyse the efforts of directors and to create a suspicion in
the public mind which could only tend to depreciate the
market value of the property. In conc:usion, he said that
the directors were forthwith prepared to reduce the allow-
ance to themselves ; these honest and trustworthy officers
had offered in a hotly to submit to a reduction of their
salaries. (Cheers.) Their present expenses were equal to
the carrying on of a much larger amount of treffit ; for any
increase they received he believed that 60 per cent. of it w,uld
be profit to the shareholders To obtain this accession of traffic
and also to obtain such terms as they were entitled to from
the Midland and other companies, could rely be hoped for
by the cordial end complete support to the directors by the
proprietary. The hon. gentleman concluded by formally
moving the adoption of the report.
Mr. R. C. SHARP, of Manchester, seconded the motion.
. _

Major G 1 BRIGGS, the chairman of the committee
of investigation, moved as an amendment, that the report of
the committee ehoeld be first considered.
r.TAUNTON, another member of the committee, seconded
the amendment.

After some conversation,
Lord HARROWBY saturated that General Briggs should
withdraw his amendment until after the directors' report
had been pasted —General Briggs ass-nted.
Mr. /MOCKS, of Holifes, a.,id that he held 400 shares,
many of which he had bought at a premium, and he cunsi-
derail that the charges which the committee bad trumped up
against tkis concern were o' a moat scandalous Outset( r, and
had greatly injured the value of their priperty. Of all the
milk-and-water and contemptible reports that ever emanated
from a railway committee, this wu the finest specimen.
(Cheers.)
The motion for the adoption of the report was then put and
unaahnously carried.
Lord HARROWBY, without pled;ing hinivell to any of
the details in the report of the committee, moved a vote of
thanks tothem for their services, which was c rried.

The seal having been affixed to the registry of shareholders,
The CHAIRMAN replied to the sort of charge preferred
by Mr Taunton against the Earl of Shrewsbury. Mr. Ri-
cardo slid—. A more honourable and noble-minded man
I never met than the noble earl who has
been referred to ; and to say that he has
said his parliamentary interest for 1,0001. a
year is most unfair and improper: it is a most unfair
attack, and never ought to have been uttered or mode. Now
it is always usual, when a bill is before parliament, the
effect of which will be to injure a great landowner's pro-
party, that a specific sum shall be specified by way of com-
pensation; and if there is any property in the kingdom in-
' lured more than another by a railway, it is that very beauti-
lid estate called Alton Towers. The sum of 20,0001. was
agreed upon by the Churnet Valley Company before we
amalgamated with them ; and I believe that Lord Shrews-
bury never gave a vote in parliament on the subject of this
railway in his life. (Hear, hear.) His lordship has
made all sorts of concessions to us; he has lent to
us every possible facility. The line runs for four miles
through his property, dose to his pleasure grounds, cud he
has opened his gardens to 0.1 trips. I believe that the
20,0001. which had been converted in debe-turn was a
fair sum to be paid to Lord Shrewsbury, as times went when
the estimate woe fixed ; and he, for one, would never be the
man to endeavour to set such agreement aside. Lord Shrews-
bury had never himself interfered in the matter in his life."
Mr. TAUNTON subsequently in part explained away
his aceu'ation, but he considered that the 20,0001. paid as

compensation was 'Eclairs. -
The retiring directors were re-elected.
The motion for declaring a dividend of Is. 6d. per share
woo put and lost, so that the surplus of revenue stands over
to the credit of the ensuing half year.
General BRIGGS moved a vote of thanks to the chair-

--
man, which was carried, and then
Mr. HICKS, of Halifax, said that something more than a
mere fennel vote was necessary on this occasion. In this
spirit he moved the following, " That this meeting cannot
separate without expressing their high opinion of the board
of directors, and their full confidence in their upright and
honourable conduct in the management of the affairs of the
railway."
General BRIGGS seconded this motion, and it was carried
by acclamation.
The CHAIRMAN—Ws came here prepared to offer our
resignations. We are content, however, to remain with this
expression of your goodwill; dial when you cis find better
men we shall gladly retire from your service. (Applause.)
Tits meeting then broke up, having lasted ire hours and
a quarter.

TRY SURTEVALTY OF THE CITY OF LONDON.—Yeill-
terday, at the Court of Common Hall, at the conclusion of the
proceedings for the day at three o'clock, the numbers for
sheriff were declared as being—far Mr. Hodgkinson 314, for
Mr. Butler 90. Mr. Secondary James, with Mr. billiard. the
under-sheriff, was upon the hustings during the whole of
the afternoon. The proceedings with reference to the r leo-
tion having closed, Mr. Low said that it would be Ia the re-
collection of many of the persons present that he had on the
day named for the opening of the proceedings nominated
Mr. Butler as a fit and proper person to BB the office of
sheriff, in cobjunotion with Alderman Carden. That morn-
sag,
huwever, a letter bail appesrid in the Times, purporting
to have been Idgrood by Mr. Butler, which stated that he
(Mr. Butler) had declined to serve, on the qrounds. that he
had been proposed, without having given Ins sanction, to
who
the office, end that, in ecoolusion, he.begged any parties who
might be friendly to him to vote against him. The facts of
the ease were simply theset—lie (Mr. Low) had entered the
hall for the purpose of attending to his general duties, whet
a letter was put into his hands, signed by the clerk of the
Honore Company, which was to the effect that he (the
I shirk) had no trump to doubt that Mr. Butler, of Upper
t °lepton, would serve during the ensuing mayoralty if he wee
I approved of. This letter was addressed to Alderman Mu. •
grove, and given to him (Mr. Low) on his entrance into the
hall. In enassqueaos of this, having some personal know-
s ledge of Mr. Better, and knowing him to be a respectable
llgentleman, he (Mr. Low) did not hesitate to propose that
gentleman for sheriff.

N

AMY 24.
It now appears that the hope of getting the Secu-
rities for Advances Bill peeped this session was only
raised for a mom rat to be da-h d down again. The
account received yesterday smiting of the Were of
the Irish solicitors' depatatioa in Leaden has dm-
Polled every prospect of °Veining foe the Encumbered
Estates Commission the important aid which was an-
ticipated from Bir John R.znilly's measure, at least
for this year • and the mode is which the efforts of the
deputation have been defeated—simply the refusal of
Mr. Stuart to abstas from his opposrion to the mea-
sure—is at mice provoking and hamiliatieg.
Yesterday the Er cambered Estates Commiasionere
sat for the disposal of two properties in their court.
For the find, that of lieorge Thomas die Massy, in the
county of Limeritk, there did cot appear to be a
single bidder, and an adjournment was consequently
atCHNITy.
The ft coed was that of John Massy Stackpooie, in
the county of Clare, and although &small estate, it
we. divided. for the purpose of the sale, into three
lots, each of which was liable to a proportion of an
annuity, besides heacdrent and other charges. Lot 1,
io which the yew at profit rent was 194 95., was par-
chased by Mr. P. M. Cullican for 14W. Lot 2, yield-
ing at present a profit rent of 381., was sold for 3301. ;
and Lot 1, which 3 ieids at present rents amounting
to 474 2s. lil., and is subject to the lisbili imp of a
bead-rent and annuity, anti noting together to
471.135. 103., that is, to nearly 12s. more than the rent
produced, was sold for 3304 However, 30 acres of
the land is now in possession of a tenant for le. 6d.
rent, and the lease by which he heir, having been
broken by the commis-ione.s, the tenant himself be-
came the purchaser yesterday.
Within the week enditg the 17th instant 16 new
petitions to the Encumbered Estates Commissioners
ware pres. Med; and 21 conditional orders and eight
absolute orders were granted. The total number of
petitions presented now amounts to 1,039.
The accounts received of the potato blight are still
conflicting. 'lke Limerick Reporter cheerers that it
has set in fully three weeks earlier than last year;
but as yet the tubers, with erremely few exceptions,
do not appear to have ben injured, the blight exhi-
biting itself solely in the stalks. The latest accounts
from other districts are gent rally satisfactory.
At the Kilkenny assizes, Richard Shir.ey and ac-
me others were convicted fur the attack on a house
at Buront-church in that couatry, to compel the ix--
espying tenant to abandon the land. The outage
at the time attracted a great deal of attention. Fen-
Mace has not yet been pronounced.
William Walker and William Anderson have been
convicted at the Antrim amis• s, for an attack on the
police, near Belfast, on the evening of the 12th of
July last. Walker was sentenced to a fortnight's
imprisonaitnt ; the otter was allowed to remain out
on bill, for judgment hereafter.

DEATH or PIERCE K. MAIIONT, E.Q.—We regret
to miscunt:* the 'Leta of Pi.toe Kenifeek Mabony, Esq.,
eldest ma of P. Malsony, Bay., Mirk of the Crown. His
death wu rather unexpected, for thungb he had been CI for
a few days, the 'Tempt sa, did not appear so dangerous as to
warrant any impressi to of so rapdily fatal a result. By his
death an ctßce rcurts to the crown in the Accountant-
General's deputwat.—Freentan.