Northern Times.
Liverpool, Merseyside, England, 1859-08-29 00:00:00

The Chairman said he✓ would be very frail];

them. Some gentlemen thought they were right it
pressing for the clause to enable them to run througi
_ _

their own traffic over that line, and all traffic that m ght
come by it. He did not believe that it save the Great
Western Company power to run over it, unless that
power came by the Birkenhead Company.
The resolution was then put and carried.
The Chairman then proposed that a dividend be paid,
on the 9th September, after the rate of 22 per cent. per

that the directors' borrowing powers be further in-
creased ; and explained that it was necessary they should
have that power in order to carry out the agreement.
The motion was seconded by Mr. Evans, and carried
unanimously.

•
The next business was the election of directors, in
reference to which
The Chairman said the paragraph in the report on
this subject was not couched in the usua- -
The reason was that he had not seen his col

have a

North-Western director remaining on their board. lie
meant Mr. Bancroft, though he should be sorry to give
him up. He thought it might be as well to reduce the
1 1 P AT AL

Western and a Great Western director, and he should
be glad to have Mr. Bancroft. He should not be a man
if he did not say that Mr. Bancroft had been a most
proper man as a director for the Birkenhead Company.
Since he had been chairman, Mr. Bancroft had given
him most valuable assistance. If Mr. Bancroft were
re-elected, he would retire from the board at once, in
case the agreement should not be concluded. He should
therefore ask them to re-elect Mr. Titherington and Mr.
Bancroft as directors. Mr. Rogers did not wish to be
re-elected.
The motion for the election of Mr. Titherington and
airman thought it better not to make them Mr. Bancroft was put formally, to which some members
)me were in dispute. He had called thcir at- took exception ; but it was filially agreed to.
o the several items of increased x n diture • Mr. Taunton then proposed Mr. Joseph Harger as
e had stated, with the exception of etlieeaecidents directo. r, in the room of Mr. Rogers.
to, they would be all of a permanent character. The motion was carried.
to the locomotive department, he found tat
The Chairman proposed the re-election of Mr. H. C.
zany had saved upon almost every item in that Beloe, as auditor. He said he had himself gone over
ant. And this saving, he was pleased to think, the whole of the accounts of the company, and he
iso be of a permanent character ; while at the believed that Mr. Beloe would tell them that the
corn-
[e the staff was rendered more efficient and co- accountsw ereinab etter state than they had ever been.
A. saving in the locomotive department, he In fact, he thought the accounts were in such a state
was indicative of good, management, and he that, when the agreement was made with the Great
I still greater saving could be effected in this Western Company, there would be no trouble.
nt by still greater attention to its requirements. The motion for the re-election of Mr. Beloe, as
a saving of £2,140, and £1,074 of that was in auditor, was then agreed to.
)fluel. He thought the shareholders would be Mr. Taunton said the amount of money, £6OO per
to hear that they had been able to s4ve so annum, was totally unfit for the payment of the
the cost of fuel, while at the same time they had ten gentlemen who formed the board of directors.
more miles during the half-year. He was The sacrifice was great which they had tomake, and the
a therefore, if they were able to save that large allowance some few years ago was £1,200 per annum.
he cost of fuel in the last half-year, while they That was afterwards reduced to £9OO, and, at a very
he same time doing a larger amount of busi- gloomy period, to £6OO. He had that morning refer-
-7 could still go on doing something more in red to the reports, and he found that all other compa-
Y'. He thought it would be wrong to nies paid their directors better than that company. lie
LS Without saying that the Locomotive knew the companies to which. he referred were about
arnittee
and the engineer displayed a great the largest in Groat Britain ; but he would now
al:int:Tien to this matter. Their permanent way propose that an additional £4OO be paid to the
mv, from good state, and he was pleased to directors.
Tunes, that there could be made a Mr. Titherington said—Two years ago they had a
111)011 this
;ard to the urainterrtn department hereafter. Wi'h dividend of 24 per cent., and at that time the income of
it attention to the thought,l he ought to call the directors was £1,200. Mr. Bancroft reduced it to
that they-had ey had not provided in I £9OO, and it was again voluntarily •reduced by him to •

he wt is afraid there would be very little left
£5,587 for the proprietors after they had dis-
-1 all claims made upon them for injuries sustained
accident at Alollington, and from the fire at Man-

older asked what the partic

.s of the claims