The Express.
London, England, 1850-02-23 00:00:00

THE EXPRESS, SATURDAY EVENING, FEBRUARY 23, 1850.

Maiden& Esq.. who has templed the cede of one el the
Judges of the Court of &viols in Bonlend.
COMMISSIONS SIGNED BY TUB LORD LIEUTENANT
OP NOSPOLIL.—The Hon. 3. H. D. Astley end Bit B.
ItAtimeen,Kat., to be Deputy Lieutenants.

Tax RIGHT HON. SIDNEY HILLBEET.—We taint
to hear of the indisposition of Mr. Sidney Herbert. The
richt boa igintleassa was so unwell &nisi the last week
as to be precluded from the performance of parliamentary
or pablie duties.
DEATR OT GEN. ROBERT DUDLEY BLAEL—WA
have to record the denies of the shave venerable sad gallant
general, who died a low days dam at hie seat in timesz.
The deceased pascal wee second sea of the late Biz Dreads
Blake, Bat., of Tolstoi Castle, sad brother sad heir pre-
sumptive of the precut bareaet. His commission was
dated as aubloised -Basigu, March 8, 1793 ;
Jens 29, 1793; septa'', May 21, 1794; major, September
18, 1794; lisatt..ftlosel, February 28, 1793 ; °Mosel, April
29, 1802; niejooneneral, Ostober 23, 1809: Ileat:ileaeral,
June 4, 1614; sad ireneral, January 10, 1837. The gallant
deosassd was ia hb 75th year.

RAILWAY MEETINGS..

LONDON AND NORTH-WESTERN.

Yererday's Erpreas contained the important por-
tions of the report reed at the half pearly meeting of this
company, together with the proceedings up to the time of
going to press.

- SUMMARY OF ESTIMATED FURTHER FZIPENDITITIL
(01 this unary the set amount only woe gm la yerectleft
hopnraion.)
Main lino Red li cenipleted :
Land 131,747 10 0
Worts 34,218 10 1
- -
Limpet Estandate and 0114 SAM 0 1
tea &WWI
Leeds end Danaher? 74,204 0 0
lindensleld end Margbotstr 70,349 1 7
Wag t
Carriages 9,143 8 1
40,373 le 3
29,170 1 4

Works sot astray ardiul, bat
Bm4broolokreelmMii....
NB&MO,
loomion=h.ore7
Nomoroo.
Rolossico
Land sod work, 341,101 0 0
Interest 50,90 0 0
191,031 0 0
_ _

Lines sot ""I'. 19 which the
employ hats es lotereg :
Mow Trilby
esstik9.6ltrdes •
23,191 11 0
73,300 0 0
723,431 0 0

ttlepoisi—lncluding legal sod
esessalig expeates

20,000 0 0

1,370,0113 I $

ma—lasals.vls.: . .
serples bed awl srialudab 364,123 0 0
Advisees reyslable by other
companies lBB,OOO 0 0
330,123 0 0

Net amount of &limits 11,019,910 2 3
The adoption of the report having been moved sad
sounded,
Mr. TART? rou to submit an amendment. He said be
had been a shareholder for the last 15 years in some of the
largest and must profitable lines in the kingdom. This was
the first occasion on which be bad ever attended a public
meeting ; but be considered that in this respect he, is
common with many other proprietors, had been guilty of a
gums neglect of duty, analog from the too implicit confidence '
they had all been in the habit of placing in the management
of their directors. (Hear, bear.) But the chairman had
told them that the time for blind confidence was at an end.
(Hear.) As rehash thou disgraceful frauds which had
been perpetrated elsewhere he believed the directors of the
N.irth Western were perfectly and entirely free. (General
sheers.) But the leases, and amalgamations, and par-
ehases, and guarantees, into which they bad, from
time to time, involved the proprietors had never beet
investigated. (Hoer, hear.) And even though they
should be proved to be blunders, and justifiable in
their preens* conduct, and free from individual influence
still they (the proprietors) had to complain of a most lavish
and wasteful expenditure of their sooty. (Hear, hear.)
Hs would not trouble diem with instances which were
sufficiently palpable—(bear, hear)—and one they had
in the magnificent hell is which they were now assembled.
Was that a place fit for the transaction of business ? Why,
it was more like one of those splendid halls they might
expect to meet with in an Italian pages, and it might he
token as one example of the way is which their money bad
been thrown away. Let them look at that splendid struc-
ture upon which their mon. y had been spent, without the
possitility of cne shilling of return. (Hear, hear.) Let
tin. m kok also at the inconsiderate mouser into which the
directors had rushed into parliamentary contests—contests
which they had not merely met, but actually courted.
(Hear, hear.) But a year or two beck it was only necessary
tor them to be told that a scheme wan propounded on the
broad image system, but they must immediately enter the
field to opp ese it. (A voice, ".And quite right too.") He
would mentith ere isstanee. It would be recollected,
that the Great Western had proposed, nit wisely as he
thought, a line from Oxf ird to Cheltenham, and in
which, if they thought proper to invest their money in
that speculation, it was no concern of the proprietors of the
North Wet ern. But their diremors thought it fitting to
bring forward a rival project which sever could pay a
farthing, but which occasioned a large expenditure in par-
liamentary costs. (Hear, hear.) He was as are that they
could not retrace their steps, but it would be 'till &dean
tageous that all these transit:tithe should be fully ineese
igated, in order that their results might be held up to
every future board of management. (Hear, hear.) It war
Mi. profuse expenditure, and the facility it gave to make
counts appear what was wished rather than what they
were which bad originated L Ord Monteagle's bill of last
year. The as nchnent he would suggest was:
" That such ports of the report now read as relate to the
payment of dividends be received and adopted, but that the
remainder, together with the halt yearly accounts, be taken
into 000sideration at the first meeting of the shareholders of
this company which shall be held after parliament shall have
'stab ished some better system of audit and control."
The explanation of the chairman with regard to the in-
crease of ex; endi tire in the pri sent accounts as compared
with those of 1848, did not, as far as the Huddersfield and
Dewsbury and the other lines were concerned, account for
that increase. In October, 1848, they were told that the
amount expended and to be capes did for these lines was 25
milieus, now it appeared it was 25 millions, and that more
was required. This system of adding to the capital account
must be put an end to by some means or other. (Hear,
hear.) He admitted the truth of what the chairman had
stated with regard to the locomotives and plant of
different descriptions, that when the exigencies of the
traffic required that they should be increased, the
charge mute be placed to the capital amount. Bat
there was too great a desire to add unnecessarily to that
amount, and it was suck additions that tended to the ruin of
the company.
The amendment was sanded by Mr. GALLOWAY.
Lord LIFFORD thought if the smiting pissed such •

amendment, or if even then were a lug; minority in its
favour, it would be throwing the apple of disoord amongst,
ai.d be most injurious to, the interests of the company.
(Che. rill He wee aware that many of the subsidia'y lines
had been unremunerabve, but the snot had not been con-
fined to the directors, the sharehuldin were equally liable
to blame. Let them now, however, resolve to profit by ex
;tediums, and prevent iuture extravagance. There was no
necessity to express a want of cuofidence in the directors, it
was sofhient to request them not to engage in these wild
speculations hereauer. (Hear, hear.) It wee important,
however, that something should be done to ChM the capital
account. or to do that which would be equivalent to it. He
admitted that more capital might be required for purposes
erential to the prosperity of the company, but be thought
it might be provided for in another way than by adding to
the capital account. At present they had no means of know-
lag wikh of the subsidiary lines were remunerative, and
ethic\ were not, and whether the losses of the one were co-
voted by the gains of the other. lie would suggest that the an-
easints for the extensions should be kept separate, and audited
separately, so that the shareholders might know how far the
estimates and enpsnditure agreed, and what was the gain or
loss in sack cue, and that any additional capital that might
he required should he wrovited by a call.
Mr. MONTGOMERY MARTIN had also a proposition
to make, which, if it were adopted, would probably induce
Me. Tartt to withdraw his. He thought it was moat desir-
able that they should have a cutinunce audit. It was
impossible for one man in 100 to follow such detailed and
extensive accounts u were presented at the halfyearly
muting,-
The CHAIRMAN—I would remind the hon. proprietor
that there wiU be a special meeting on the subject of audit.
Mr. MARTIN would prefer an independent audit, is
widish the accounts should be made up monthly, and deli-
vered monthly to every proprietor. (" 06, oh," " impos•
able.") It was done In the commimariat• and in all the
eshiaial disbursements. Why net do it here.
Mr. DEAN approved of the, principle, bat would suggest the
Billowing amendment: " But it tithe opinion of this meeting
that, with the payment of calla now in arrest, the capital ac-
count of the company be forthwith closed, and that no further
oddities* be made thereto, except for such purposes and to such
extent as shall have been previously authorised by a resolu-
ties of an extraordinary general meeting of the company,
convened for the purpose of considering as estimate and state-
ment of the outlay required and the objects to be attained ;
and that such estimate and statement be circulated among
the proprietors at least ath days prior to each muting
place." He thought that if the mover of the premiss
meat would substitute this it would answer every
better. His (Me. Dean's) &volition had been
more particularly to the subject from having ex-
amined the accounts in October, and those sew
furnished ; and, notwithstanding the chairman's expla-
nation as to the cause of the discrepancy, he believed the
difference to be of a d.fferent amount, and should state hie
impression. The account of October stated that, in 1861,
when all the works should be completed, the capital ex-
pended would amount to 25,882,0001 ; but the praptat
accounts brought the amount up to 28,000,0001. Eves ex-
eluding the items deducted by the chairman, the meant at
eapital actually expended up to the 81st Des. wet
26,047 120/., being an excess over the ram fixed for 1862
of 106,120/.; and it appear. d that even that excess
would not be sufficient to complete the works.
Mr. E.. NAPIER seconded the motion.
Mr. MOZELY (auditor) complained that his conduct and
that of Ida brother auditor had been impugned. (No, no.)
He was not likely to misunderstand the gentleman, and he
understood him to complain that the auditors, haying