Northern Times.
Liverpool, Merseyside, England, 1859-02-26 00:00:00

apital waste

Now lying in Dublin:—Apply to V\
41.1
CUNAItD, WILSON, & Co., Brokers

aom it ma

TO be SOLD by AUCTION, on Thursday next,
3rd March, at Twelve o'clock, on the Quay, north
east corner. .of Prince's Dock, the Wreck o f the
American Ship ISAAC wßioirr, lately partially
destroyed by fire, and now lying ashore in the River
Mersey. The Isaac Wright was I,IGI tons American register, and
1,286 tons British measurement. Length, 175 feet; breadth, 38
feet 1 inch ; depth, 22 feet 61 inches. Built in New York in 1847,
principally of oak and pitch pine, is heavily copper fastened, was
sheathed with yellow metal in 1856, and was well known in th,
Liverpool and New York trade.—Apply +-
Messrs. BARING, BROS
CUNARD, WILSON

ag2

and Co., Merchants ; or to
end Co., Brokers.

-On account of whom it may concern

TO be SOLD by AUCTION, on Thursd4y next

•rd March, at Tt

k, on the (

;e's Dc

aerican

east corner of
Stores, savedfrom the Wreca
ISAAC WRIGHT, consisting of Sails, Spars, Boats, Anchors
Chains, Rigging, &c.—Apply to
Messrs. BARING, BROS., and Co., Merchants; or tc
OUNARD, WILSON, and Co., Brokers.

ROBERT A MITN.N and Co.,
ADMIRALTY BROKERS,
*4,4 BROKERS FOR THE SALE OF SHIPS AND
Igeola‘, STEAMERS, SHIP VALUERS. &a ,
3, York-buildings, Dale-strilet.

On cafe.

PATON AND M'NICOI

STEAM

DINGS, 17, NV

TO be SOLD, by Private Contract,
eellent iron PADDLE STEAMER, of the fo:
.►idimensions, viz. : —Length, 113 feet 3.
f,..r"._ beam,u 17 feet 9:l9.ths.j depth
.7 feet 9

ders ; is propel
horse power; any
Fr particulars, <
et reet.

S.ANDERSON

I .
'II3ItRY; KELLOCK; and CO., •
~ ,* BROKERS FOR THE SALE AND; PURCHASE QV
tit SHIPS AND STEAMERS, SHIP • VALUERS,
AN
. KS. I& , APPOINTED BROKERS TO TEE HIGH COURT OF
--- , - ADMIRALTY, Wolmer-buildings, Water-street.

Salts tt Auttiam

AUCTION, on Ti

Wa.,.
1,060 8,894 tons o.m

•-street, ti

Ls w.m.;
lion of

ST. HELEN'S CANAL & RAILWAY COMPANY.
The Half-yearly -Meeting of the St; Helen's Canal and
Railway Company was held at the St. Helen's Station,
at twelve o'clock yesterday, The chair was taken by the
chairman of the company, Gilbert Greenall, Esq., M.P.

The report, which was taken as read,' sho'sv'ed an
increase in the gross traffic receipts for the six months
just ended, when compared with the same period of
1867 of £4,856, against which was to be placed an
increase of working and renewal charges of £2,368, and
of interest upon loans and preference dividends £2,394.
There was an increase both of passenger and mer-
chandise over the year 1857. The report further stated
that the directors " have concluded an arrangement with
Ile London and North Western Company by which in
consideration of a rental of £9,000 for the current year,
£lO,OOO for the year 1860, and £12,000 for the year
1861 and every subsequent year, the Warrington and
Garston line is to be transferred to that Company.
Advantageous arrangement, in other respects, are secured
to the %t. Helen's Company, including the right of
working the local traffic to and from Garston Dock
(which is not included in the transfer) on terms
which they consider favenrable. By this arrange-
relieved from all charges
tkerwise on the Warrington
as well as from any future liability
under the agreement for leasing the Warrington and
Stockport Railway ; the North -Western taking upon
themstC.ves the lease of that line. Whilst retaining ti./e
docksand depots at r-Garston, the directors have still
deemtd it expedient to give the London and Norai-
Westurn company futilities to use the same on, reason-
able terms. The directors are convinced that Omni-m
/n e-
ett is equitable and fair, for bath companies, and that
it will be found to W;Grk to their mutual advantage, 'while it
relieves this company from the necessity of contributing
/any part of the capital for the extension line to Liver-
Tool. In announcing the restoration of friendly-relations
-with the Louden and North-Western company, the
xdirectors are glad to state that the agreement has been
made,' with the full concurrence of the Great Northern
and Manchester, Sheffield and Lincolnshire companies
who had themselves previously concluded arra-
working in amity with the London and No.
The balance brought from last half year consisted mainly
of the anbizatt claimed from the London. and North
Western Cetnpany, as due under the agreement of 1851.
Consequent on making the new arrangement, a settle-
ment of thair claim has by mutual concession been
effected ; the directors agreeing to redone their demand
by £750, ?which deduction is stated in the above sum-

went the company arc.

for nut
and -Gal

tenanc

ton lin

ngements for
-01-Western.

mary. 'Dcring the half year just ended, an action brought
againt the company by the representatives of a person
drowned in the canal has been settled, and the payments
ma lc on this account, as well as in compensation for the
results of a collision at the Warrington station, in Dec.,
1857, are also charged against this balance. :The working
of the Warrington and Stockport Railway during the
year 1858, on which period alone, under the new arrange-
ments;tany responsibily attaches to this company, shows a
considerable deficiency from the amount of dividend
guaranteed, but it is right to say, that this was always
anticipated by the directors, as likely to occur at the
beginning of the lease. The sum of £l,OOO, paid on
account of this company's proportion of the loss, is
charged against last half year's revenue, and the balance,
:•when adjusted, will be charged to the revenue of the
current half year."
The report recommended a dividend at the follow-
ing rates :—" At the rate of 2 pet cent per annum on
stock A, 5 ditto on stock B, 6 ditto •on stock• C, 41 ditto
on stock D, 41 ditto on stock E, 6 ditto on •stock P, and

-.6 ditto on the shares of 1858."
®The Chairman said the directors regretted that the
meeting was held upon a day somewhat later than usual.
" The reason was, that they had a suspended and disputed
-account with another company, and were desirous that
the
,question should be disposed of, and that the settle-
ment should appear in the report now laid before the
meeting. The directors had arranged, however, tkat
the dividend warrants should be payable on Monday.
(Hear, hear.) The accounts being in the usual form,
giving as much information as could be given, and keep-
in,,mback nothing which the directors believed the share-
holders would desire to learn, he should not think-it his
duty .to occupy any time in analyzing the report
and accounts. He might tell them that the traffic for the
current half year kept increasing, and was very much in
excess of that of the corresponding week of 1858. A very
favourable and satisfactory feature was that the increase
of traffic was general, and pretty nearly equal upon all
their elements of income. The increase of income was
large, and be thought must be estimated at pretty near 30
per cent., that was to say, the income upon eight weeks
terminating the 20th February, 1859, was about 30 per
cent. in excess of the income during the same number of
weeks terminating the 20th of February, 1858. He
begged to move the adoption of the report and statement
-of accounts.

Mr. Jackson seconded theamotion, which was carried
unanimously.

Mr. ChaAes Holland moved that the dividend be
declared as stated, and congratulated the directors that it
was to be paid so promptly as they had just heard.
Mr. King seconded the motion, suggesting that, in a
small concern like that, the dividends should always be
paid two or three days after the meeting, and that if
possible the meetings should be held earlier, and as nearly
.as possible upon some fixed day.
Mr. Holland expressed his concurrence in the sugges-
tion, and hoped the directors would be able to carry it
out for the future.
The motion was carried.

Mr. King moved the consolidation of certain shares as
recommended in the report, which was seconded by Mr.
Josias Booker, and carried.
The Chairman mentioned with regret the decease of
their old friend, Mr. Jones, the auditor. On the occasion
of their next meeting, in August, they should have to
*select a gentleman to fill that situation.
Mr. Booker remarked that he did not often attend the
,meetings, but when he did attend he never quitted with-
out satisfaction. Although very critical, and exercising
a somewhat vigilant eye upon their accounts, he did not
nee in them the shadow of a fault of which he conld lay
hold. (Hear, hear.) The only fault he could find at
all was- that he had expected to see at that meeting
a fuller conclave of directors. So satisfied were they
with their accounts and their report, that they never
made a muster. (Laughter.) They were something.
like Sir Colin Campbell when he fought the Russians at
Balaklava—(laughter)---he happened to know Sir Colin,
he knew him a great many years ago—when some one
said to Sir Colin " I suppose you are going to put your
men into squares ?" " No," he said, " I think we can
manage them twa deep." (Laughter.) Now, he did not
see the directors at present more than twa deep. (Laugh-
ter.)
The
_Chairman : There are six in the room out of ten.
Mr. Booker said, having travelled over the line that
day from Rainford, and had an opportunity of looking
at it as he never had done before, he could say, as far as
a cursory survey availed, that it was done with judgment,
and had the means within itself of producing
money. With regard to the other lines he need
not say a word, because their own accounts proved
what their condition was. As regarded the lease,
which he supposed he might call a
perpetual sale, it appeared to be a fair rent on both sides,
and done with great consideration upon the part of the
directors. Taking the whole concern, those who had
been connected with the railway ten or fifteen years,
could nut-help coming to the conclusion that the judici-
ous and comprehensive management of the directors had
now brought it to a.position which even the most keen
and captious fellow must acknowledge. (Hear, hear.)
He moved that a vote of thanks be passed to the- chair-
man and the directors for their management of the
affairs, and he hoped they would long continue to exercise
the same judgment until the line should be brought to
that perfection which the shareholders had a right to ex-
pe9,!...from what they saw before them. (Hear, hear.)
2". Gaskell Taylor seconded the motion, observing at
the same time that he was not quite sure whether they
could not have done better if they had remained single-
handed, for he was indisposed to become connubially
connected in rr...att.3rs of that kind. (Hear, hear, and
laughter.)

The motion was earned by acclamation.
The Chairman, in acknowledging the compliment,
observed that the arrangement made was most satisfac-
t,ory, and for the best of all reasons. He believed both
parties considered would righteous and fair arrangement,
and one which show the righteousness of its
principle day by day as it was worked upon. (Rear, hear.)
Mr. Booker also moved a vote of thanks to the Secre-
tary, Mr. Sinclair, for his energetic and untiring manage-
ment, his intelligenee, and his amiable manners.
The motion was carried by acclamation.
This concluded the business of the meeting.