Northern Times.
Liverpool, Merseyside, England, 1859-02-19 00:00:00

THE HOUSE OF COMMONS, THE ,MINISTBY,

AND THE OPPOSITION.
The Times complains of apathy everywhere. Ill!!
House of Commons are waiting for Sir John rakingtol",
estimates ; they are waiting for Mr. Disraeli's reform,
they are waiting for something turn up. For want of
vigorous wholesome invigorating opposition; Grover nue°
is falling to pieces. The Chancellor is said to be tbinkil
of leaving the Woolsack for the Bench. The Colon
Secretary is suspected of a similar intention, without
good a reason ; and the Secretary for War is plait
spoken of as on the .move. They really seem not to
whether they stay or go—and the Opposition, if there °`
one, does not care to inquire.

MR. POOLE'S. atm—The Archbishop of Canterbart
will resume the hearing of Mr. Poole's appeal thl*
morning (Saturday)
TRH INDIAN LOAN.—The Times says a rumour 11,t4
been circulated that the new Indian Loan of £7,000,0uv.
will be in the form of 44-- per cent, debentures, redeemab,l`
in ten years, and to be issued at par. It is scarcel
probablt, however. that the real terms will be allowed to
transpire until they are formally advertised.
There is a vacancy in the representation of Midhort
Mr. Warren having accepted the appointment o r
him.

COMMERCIAL.
Extreme dulness prevailed to-day throughout the.
Stock Exchange. The continued armament in France'
and the absence of any recovery on the Perla Bouts!'
contributed to check all tendency to animation.
Funds, however, closed as good as yesterday, a reductionf
of 4- per cent., which took place towards the middle °
the day, provinc, merely temporary. Sales in preparatioo
for the Indian loan appear to have been effected to
extent, yet without prejudicing the market. ith tu"
W
exception of the Indian Railway Shares, the other
markets were heavy. Further large sales of Lombardo'
Venetian shares on orders from Vienna had considerebict
effect upon the Stock Market generally. The Discoug
Market was rather more active, but the best bills i'rere
freely taken at 2k, and even 2 per cent. The operation,
in gold at the Bank to-day were unimportant. Ilerl
'''',
steamer Ceylon will take out, on the 20th inst., £175,
in specie for the East, all silver, except 2,365 sovs. Someconsiderable sums were to-day countermanded for 6';
next vessel for Bombay, whence the exchange e°lnek
higher. On 'Change, this :afternoon, a fresh rise toe,
place in the rates for bills on Austria. Paper on ilollarlu
was likewise quoted more favourable for this countral;
The other exchanges remain firm—Daily News C"'
Article, Friday Evening.
The English Funds opened this morning without alte:
ration, but 'the market was languid, and a few speculatvr„:
sales soon caused a decline of a at which they remain;
In the Produce Markets during the week; the general t°l/;
has rather improved, and prices have been steady. They
has been more inquiry for export, partly on the favourabie
commercial advices from the United States, but the ~C°„,11;
tinential trade is quiet. The Tea Market is very ul'"jl
common Congou was bought this morning at is. Aid
per lb., but cannot. now be obtained at that price.
mixing kinds recently arrived, have been sold at Lt,
rates, those under 2s. 2.1. per lb. being most sought aft
Times City Article, Friday Evening.

SARDINIA.
The Minister of Finance has
TURlNpresented l
a bill
suspending, until further orders, the export
forage and oats on the frontiers of Lombardy
The Ambassador of France has left for Pal'

_)me bulls belonging to
Wilkes, of Shrewsbury, which had been put-Chased a!
neighbouring fair, were being driven home the other 'I%
over the bridge at• Llangollen, three of them ran do° iler
narrow-defile towards the river and were nrecipated
a rock 30 feet,deep into the Dee. One. was killed on tuts
spot and the others very seriously injured. The beasile
had to be conveyed half a Mile down the river, and Iv'
then landed with the greatest difficulty.

SINGULAR ACCIDEN

THE PRINCE OF WALES IN ROME .4 The Gioroll re
Roma states thai on the 10th instant, the Prince of `from
went up to the cupolo of St. Peter's. A letter Oti,,
Rome, of the 12th, says:—" The prince is frequeliilis

seen in the streets and at the pane building& 3,
object appears to he to acquire as much informatiooo.s
possible. On Thursday the army of occupation le,
reviewed by General de Goyon, at the Villa Borgile.g
He gave crosses to several officers. It was an inlra°salo,
sight. The Prince of Wales, the Grand Duchess Want'
and several foreigners of distinction, were Preso-to
General de Goyon presented his compliments to tl
after the troops had defiled." A h r
SUICIDE.—William Henry Fish, residing at 32;
deen-street, Park, was found hanging by the trek t 0 ied
bed-post by his daughter. A medical man was cal„st
in, and found that Fish had ceased to breath. All iiiil3"
will be held to-day.
THE UNIVERSITY OP LONDON AND QUEEN'S COLD 00
LIVERPOOL.—A communication has been received' fritile
the Senate of the University of London, empowering
authorities of Queen's College, Liverpool, to hold s,
triculation exhibition at the College, in July neat•
it gh
T CKERMAN IrisTrrum.—Last night Mr. at
Shimmin delivered a lecture to a crowded audieil°°l'ig
the Tuckerman Institute, the subject being "
Men's Wives." The subject was listened to with jog'
greatest -attention, and was repeatedly applauded ditr
its delivery.
~.0 of
Those who have not seen the historical Pie'—oci
Florence Nightingale at Scutari, at Messrs. Agilel, sir
Son's gallery, containing her portrait,. and those °tot,
Henry Storks, Alexis Soycr, Mr. and Mrs. Bracebo ;se
&e., must not lose any time, as the exhibition will c
on• Saturday next, the 26th instant. ;
CRESCENT CHAPEL LITERARY SOCIETY. —This soc
held its usual weekly meeting in the school
William Henry-street, on Wednesday evening oa
Mr. Thornley Jones opened a debate, in the-ne,gau—'tlie
the subject—" Is the-Established Church entitled t°
support of the State ?" 'After an interesting andll,e•
...
mated disettsion, the subject was adjourned to next "do,
CORONER'S COURT. —No inquests were held vester
but information was received of the following 'death;
the
John Harris, a rigger, who fell from the topmast
pars
schooner Lizza Dunsford, in the Stanley Dock, tbeAr on
ticulars of which we leave already published, .ille"at
Thursday night. John Sandon, aged 26, residing 7,00
Tenterden-street, died at the Royal InfirmarY

roof;
last, All"

internal injuries.
4)4
ALLEGED DEFALCATIONS OF A LIVERPOOL 31. ER- "nier
—lt was rumoured on ' Change yesterday, that a bo
chant connected with the wine and spirit trade', to
suddenly left the town, leaving liabilities amountinprllitli
nearly £30,000. The Customs' authorities ree' to
instituted a prosecution against him, aud, in additioaboa
this a series of speculations on the Stock Exchange
turned out very unfortunately. giol
HISTORIC SOCIETY.—A meeting of the archteNfehr
section of the Historic Society of Lancashire anufoota,
shire was held on Thursday night, in the grand jurY;;;010
St. George's-hall, The chair was occupied bY ,v,"'„riag
Kindreck, Esq., M.D., Warrington. The fso"c)o'
donations were intimated, viz. :—Journal of the ~
kenny and South-east of Ireland Archaeological c)cieti•
new series, vol. IL, number 17 and 18, from the so bieo'
The Archaeological Journal, No. 59, from the Arebicol
logical Institute. Proceedings of the
Society of Glasgow, vol. IV., part 1., from the soele;oe,
Dr. Kindreck exhibited a curious implement In ishet
initialed T. S., 1607, weighing 251 lbs. It is furil. for
with a handle like the common flat-iron, and 00'0110
merly used in the smoothing and glossing of wfther
cloths. He also exhibited fragments of three ea, too
ware vessels of early date. One had origiaa"i'. tyg'
handles, and had been used as a drinking CO Zioest
the other two are conjectured to be portions of "d 041
censors or fuming pots, for burning incense, 30,./00
usually fgund in the barbers' shops in tie YP'.
Shakspeare, who makes Petruchio complain tote "b
PhilosoP„,
Catherine that she has as many holes (eYleuibi!odeil
sleeve as in a barber's eilsor. Dr. Hume sou'
nugget of quartz and gold from near Yiss, in Nl!d they.
Wales, from the auriferous reef lately discovfregiirercil
Mr. Sanson exhibited a microscope, moo ill delu
the date of 1742. It was remarkably well ITT pOWe_A
respects, and was possessed of great inagif_rns'ect!tle:
The paper of the evening was, then. read; it 'liter, b
" The Early Charters of sr.. WerbeFgh, Cho
Joh Robson M.D.

THE LONDON AND NORTH-WESTERN
RAILWAY COMPANY.
RALF-YEARLY MEETING YESTERDAY.
(FROM OUR OWN REPORTERS.)
The ordinary half-yearly meeting of the proprietors of
this company was held at the Euston station, London, at
'twelve o'clock yesterday. There was as usual a large
attendance of directors and shareholders The chair was
taken• in the absence of the chairman (the Marquis of
,n
'llandos), by the deputy-chairman, Admiral Moorsom.
The secretary, Mr. C. E. Stewart, read the notice con-
vening the meeting, and the minutes of the last half-
YearlY, and the subsequent special meeting.
The report, of which an abstract has been already pub-
-481etl• was taken as read.
• The Chairman : Lord Chandos's absence is inevitable,
consequence of the illness of the Duke, his father. I
am 'sure he would not have absented himself except
with some very great occasion for it ; and it
would have been quite impossible for him to go to
Scotland, where his father is, and return in time for this
meeting. This explains why I now occupy this chair. I
-must draw your attention now for a few minutes, with
one or two explanatory remarks, to the state of the traffic
for
, the half year which has just passed, and which cer-
tlinlY I cannot put before you a.. - very satisfactory. Bat
whenyou recollect the circumstances under which we
It_ vr have Passed, probably that will be sufficient to explain
.;:? it appears that there is more than £lOO,OOO deficiency.
is not altogether, however, gloom and darkness that
ive are to contemplate. A paper has been prepared, which
shall prefer reading, if you have no objection, to attempt
making in a speech an explanation of the figures, for with
an unpractised speaker it very rarely happens that he
succeeds in making figures plain to a public meeting.
This is a memorandum of the condition of traffic for the
Past half year, as compared with the year of 1857.
-71 e teach traffic of the last half year shows a falling off
?r,_495593 as compared with the same period of 1857.
ne.traffic in and out of Manchester during the period
of the exhibition shows a decrease of £47,447. This is
exclusive of the traffic between London and Manchester,
which has been affected by the competition as well as the
exhibition. The falling off between the two places has
been ri2l,327—together, £68,774. In the last two
„,„,111°11ths of 1857, nearly all of the troops sent to India
"ere passed over the line, and the amount received was
about £12.000. The coaching traffic of the first six
time in 1858, and of £4,600 over 1857, although during
the 'latter period there was no competition, and the
fares were high. Between the' competitive points there
as been, so far as the half year has gone, a
`"nlijuition id amount of £3,000, but no diminution of
ultnThers as compared with 1857, when the express rates
were being charged, and the ordinary rates were higher.
IrPen the'crther portion of the line not interfered with
+1 competition, and after allowing £2,500 earnings of
':ze new lines, there has been a net increase of £7,500 in
BIX weeks, and which the station receipts show to be the
result' of a general improvement. In the goods traffic
there has been a falling off of £18,123, of whirls £8,673
is a diminished receipt, although the weight has increased
25,034 tons, and £9,450 increased expense of collection
and delivery by agents, arising from the more expensive
mode in which competitive traffic has been necessarily
carried on, and the expense incurred in the Potteries
-Isewhere for the retention of traffic from competi-

tion. Pickford and Company's expenses also are greater
from the fire expenses at Camden Town, being charged
specially in the corresponding half year ; this half year
also included in the ordinary expenses. The receipt of,
the coal traffic has. increased £20,233, and the weight
193,872 tons. The cattle has diminished £6,811,
to the reduction of rates by competition, and to
'all the cattle from the Midland line having been sent by
the ,Leicester and Hitching line. Since October the
Midland line has diverted traffic from Rugby, and in the
first six weeks of the present half-year there was in the
traffic expenses
an increase of £6,000 in the coaching
depart ment, and of £25,000 on goods—in all £31,000 as
'compared with the corresponding six weeks in 1856.
A Shareholder : Is the Chester and Holyhead traffic
included in that ?
The Secretary : No. •
The Chairman : There is a further paper, containing a
e°nlParison of the traffic of the three years ending De-
cember 1856, 1857, and 1858. Omitting 1857 from the
e°lnParison as altogether an exceptional period, owing to
the aa
~„ ~,ancliester Exhibition, and other causes, the half-
Lear just ended compared with a similar period, of 1856,
-"WS. a falling off in the first-class passenger traffic of
,81e56,-U passeners and £42,533 in money. The third-
.Passeng,er traffic shows a decrease of 112,889 pas-
trilialges7 and X 19.505 in money. The second-class
tqsl4Bshi°nws an increase of 85,244 passengers, and
money.- Taking. the three classes together,
and dbmparison ihows a decrease of 84,289 passenge.rs,
t.11ed,446,890. In merchandise traffic for the same period
a• has been an increase in the weight carried of
99,724 tons, but a decrease in the money received,
"wing to thelow competition rate-, of £47,427. The average
rate per ton over the whole London and North Western
aiYostern has been reduced is 31d per ton, namely from
s gld to 9s 3d. The decrease in cattle, and the increase
-111 Mineral traffic about balance each other. In drawing
Your attention to the account of stock, and share capital,
and debentures; I have merely to announce, that when
B,e ar3counts were made up to the 31st of December, the
N,,;iii?twas £325,209, but now there has been an addition
Bteacd; makes it £640,000. That operation therefore is
1 'Y progressing. I must ask your attention to the
t(}),;(11110tive accounts, which shew a saving of £21,000 in
east of fuel, but there is also an increase in the cost
• wa,res and materials of £6,300. Now this latter is a
alsatisf'
actory particular, inasmuch as it arises from renew-
Materials, and more men being employed in keeping
ag_ Your stock. I have also to direct youf.
6ention to the special credit of £12,000 to meet
eei4ents You are all aware of the manner in which we
are
treated in the matter of accidents, of which we had
ily? very striking examples lately. Somehow or other
d•I "aS been shown that the fences are insufficient. We.
sPute, of course, that view of the case, but as it has
ote„n. decided that they are insufficient, we hav2 been
ti ged to have a special sum to meet the results °I a par-
tcular accident which you will all remember occurred
e:ll,e months ago near -Nuneaton. The Trent Valley
you•are aware was burnt, and £5,000 have been
il''';aside in addition to the other sum, the sum actually
the up to the 31st of December, and charged under
0.,e usual head. There are some proprietors, and I hope
v",e Particularly now present, who paid particular atten-
h7 to the permanent improvements, and renewals of
(„'"vrinanent way. And I would direct attention
aePecially to the balance to the debit of the road
adel°llnt) which two years ago was £72,433, and
:7, len has been reduced to £29,979. There was an ob-
Cation, either in a report or at a public meeting, the
0881,1 day, I forget by which company, whether the La-
nna 'to and Yorkshire or not, to the effect that you have
: rent deal yet to learn about the maintenance and re-
tie of permanent way— that that is a problem yet to
re 'Wed. I think you will see, from the figures I have
(4ed, that we have, it all events, got into the right track.
wtti ar,
ents. hear.) We, are gradually coming up to the re-
rem The report makes mention of new lines.
/ could have wished to say something of the new
th:siSwe were all here, andif what I said went no further
t}',l.lllis room,but under all the circurnstances at present
att it advisable that I should 'simply direct your
thaet-",on to the paragraph of theti-eport, and to the fact
you
.71.11. these arrangements are connected with others.
misbehaviour
heard a great deal in this room about the
ervbeeskaviour of other companies, and. of course we our-
u.reve been charged by others with equal misbehavi-
• 71 am therefore glad to take this opportunity of
Payin
afrorag..7 a compliment to a neighbouring line which
per Cell us a certain amount of assistance, even when,
th • 4Ps we -were in competition with them, and they ig•ht -
it
n. at least have done it ungraciously. But they did
eitf,eracionsly. The North Staffordshire Company gave
,i,iicret accommodation to our line across theirs after the
hea'6e was built, and the traffic went by them. (Hear,
think, and applause.) Under all these circumstances, I
glo as I said before, that our prospect is not altogether
ttle° (Hear, hear.) I think that we have some pro-
t'eels4lY. of a return of traffic, which will enable you to
parerc an increase of dividend, although upon that
1
bhe
'leos f the question I do not like to prophesy—pro-
have been so frequently defeated that
_ Prefer not to indulge in them. Having given those
tiexpla ons, I shall now be happy to answer any Ties-.
bl nati
e3i
at Proprietor may put on the report, the question
~ng at present the adoption of that report. (Applause).
thair..Punsher complained of reckless extravagance in
axe Ras of the line, and declared that the
Per
Peenses upon the actual receipts were upwards of 53
sit elit• Tie declared that there was a wasteful con,
stabnlPtion of light at most of the stations, that the staff
too numerous, and that the work at the Eastern
e
Stals n could be better done with far fewer porters. He
s° complained of the domestic law expenses, which he
461,, amounted during the last five years - to
,uOO, while their parliamentary expenses were
of• 227000. Mr. Punsher suggested an entire revision
many of their arrangements, the lowering of speed
.some trains, and the raising of fares in some
stances as steps necessary to be adopted.
Mr: Mitchell contended that the decrease of dividends
arose from mismanagement, and from the company carry-
ing a large portion of the traffic at unreasonable rates.
Mr: Billinge complained of the reduced dividends,
and declared that he should take that, opportunity of
telling the proprietors that, for their own sakes ana the
takes of their families, they must stop the increase of
the capital account upon all but new railways, -Tear.,

Mr. Abel strongly condemned the arrangement with
the Chester and Holyhead Company, and observed that,
with such an arrangement before them, it was. not to be
wondered at that their dividends were coming down.
Mr. Dickenson complained that the interests of the

shareholders had been neglected when new lines, which
had proved wholly unprofitable, were opened, and he there-
fore moved that a committee of a limited number of
shareholders be appointed, to whom every proposal of a
new line should be privately comruunicated, and that they
should have power to report to the shareholders what
their opinion was of such new line in reference to their
interests. .{I-lear, hear.) s -
Mr: Abel seconded the motion. .

The Chairman said that he would have no objection
to the appointment of such a committee, provided they
were large shareholders, about whose interest in the line
there could be no question, and that they were quite
w clear of all other railways.. (Hear, hear.)
_ _

Mr. Vance declared that the causes which had reduced
them to their present position were broadly two—a
vicious system of parliamentary legislation ; and, secondly,
a wrong system of management. If the shareholders
had all put their shoulders to the wheel, a better system
of legislation would have been introduced. A proper,'
practical, and permanent tribunal ought to be substi-
tuted for the parliamentary committee. (Hear, hear.)
The resolution ptoposed with regard to new lines would
be of very little avail, inasmuch as any shareholder, who
only had the courage to go to the Court of Chancery and
file a bill, could prevent the directors from expending
any money in the making of new lines.
A Shareholder remarked, that he did not suppose any
one present spoke for anything but his own grati-
fication, because, if he had had any experi-
ence of former meetings, he must be aware
that no practical result could arise from it. (Hear,
hear, and laughter.) He declared that he had no hope
that the directors would go on otherwise than as they
had gone on, and sacrifice the shareholders. (Hear,
hear, laughter, and applause.) . . .

.
Mr. Seelar said there was a storm arising which, unless
they altered their track, would sweep them upon rocks
where they would split. (Hear, hear.) They had never
had any satisfactory explanation why the dividend, which
had been 8 or 9 per cent., had dwindled down to 42 and
the stock depreciated from £240 to £95. (Hear, hear.)
The directors were united and the shareholders were
disunited, with no one to lead them : the directors were
strollg and the shareholders were weak, and the former
ruled the latter with a .despotism which Louis Napoleon
might envy. (Laughter and cheers.)- He demanded
that the shareholders should be informed why their
property had depreciated, and whether the directors were
prepared to reverse the policy they had hitherto pursued,
or whether they were determined to persevere in it until
they had effected the ruin of that magnificent property.
{Hear, hear, and loud applause.)
Mr. Deane was glad that attention had been called, by
an independent shareholder, to the yearly vote for new
works. He had, in vain, brought it before the pro-
prietors, and he was now more than ever persuaded that
no new works, unless remunerative, should be undertaken,
and that the cost of warehouses, &c., should be borne
out of the revenue. As to the evils under which the
railway interest laboured at present, they should look for
the remedy to th shareholders themselves and not to
Parliament, whichad-business of more pressing impor-
tance-to attend to. -

A shareholder considered that Lord 'Chandos had
initiated a good system, and he was rejoiced to find that
it was persevered in. As to the bankrupt or unremunera-
tive lines, they were planned by well-meaning but deluded
men, and it was useless now to complain of them. The
present managers could not be held responsible for such
works, and all that the shareholders could require of them
was that a better and wiser system should be pursued for
the future.

Mr. Heywood said, the Great Northern Company had
been remarkably sucfessful in placing a Sunday express
on the line, which left at five o'clock in the afternoon.
This was found exceedingly convenient by gentlemen
who wished to reach Liverpool immediately upon the
arrival of the American mails on the Sunday, and in that
respect the Great Northern Company had the advantage
of that line:
Mr.' Beasley drew attention to the absolute necessity of
coming to some decided arrangement with regard to the
capital account. As their capital increased the dividends
decreased: He urged that, for the future the cost of the
-carriage of coal should be set forth in the reports.
Mr. Locke, M.P., strongly impressed upon the share-
holders the danger of allowing the capital account to be
increased.

The question of the adoption of tiv reptcrt was then
put and carried.
The dividend, at the rate of 44 per cent., was then put
and carried.

The next resolution was, that the proposal to execute
the works set forth in the report be approved of, and that
the addition to capital account for that purpose be
authorised.

Mr.'Saunders moved, as an amendment, that that vote
be not granted.
Mr. Billinge seconded the amendm.ent.
Mr. Crosfield said, he entertained as strong an objec-
tion as any one to an increase of the capital, but the
present works were necessary, and many of them actually
obligatory.

Arr. Lticke supported the amendment. .
A division was taken, when there appeared a
large majority for the amendment. The declaration was
followed by loud applause, and a general demand for the
numbers.
The Chairman stated the numbers to be 82 for the
amendment, and 27 against.
Mr. Glynn said, in the interests of the shareholders
themselves he demanded a pole. (Hisses.) He would
not be a party to counteracting in the absence of the
chairman of the company a policy of Which, . after the
fullest consideration, he had approved. (Hisses.) To
stop works which were
.essentially necessary to carry on
the business of the company he declared to be an
insane course. (Hear, hear, hisses, and, groans.)
The Chairman announced that a poll would be taken
after the conclusion of the meeting.
Mr. James Ryley (Liverpool), did not know what
good going to the poll would do. They all knew what
the result would be, and they had been informed that,
after the most mature consideration it was found that the
works were absolutely necessary. (Hear, hear, no, no,
and cries of question.)
Scrutineers were then appointed to take the votes,
and it was agreed that the poll should be kept open for a
week.
The amount of £B,OOO in the renewal of road account
was_transferred to the capital account. _ _ _ _

Mr. Dickenson then moved the resolution which he
had Previously introduced, to the effect that a committee
of shareholders be appointed, to whom every proposal for
any addition to the existing lines or fresh amalgamation,
&c., should be submitted.

Mr;Bancroft, of Manchester, opposed the motion and
defended the policy. the capacity, and the business
knowledge of the directors.

Mr. Tirer, of Liverpool, stated that, as one of the com-
mittee of investigation appointed by the shareholders,
he felt bound to say that the directors deserved the
fullest confidence.
After a desultory, wandering, and somewhat stormy
discussion, the motion was put and rejected by a large
majority.
The next business was the election of directors to fill
the vacancies. Adiniral Moorsom, Mr. George Grant,
Liverpool, Mr. 'Mathew Lyon, Stafford, and Mr. Theodore
Rathbone, Liverpool, were re-elected without opposition.
Two vacancies remained to be filled up. Mr. R: Birley, of
Sedgley-park, Lancashire, and Mr. R. R. Dean, Lincolns-
inn, were elected to the vacant places, without opposition.
Mr. Henry Crosfield was re-elected auditor.
The business then concluded, and the meeting ad-
journed for the purpose of taking the poll.

EAST LANCASHIRE RAILWAY COMPANY

FROM OUR OWN REPORTER

The half-yearly meeting of shareholders in the East
Lancashire Railway Company was held, yesterday, at
the company's station at Bury, Thomas Dugdale, Esq.,
chairman of the board of directors, presiding. _ _

The report of the directors was taken us—read. From
the accounts, it appeared
,that the receipts dnring the
half-year amounted to £174763 17s 10d, and the expendi-
ture to £75,076 lOs 6d, which, added to £50,297 3s 7d
interest on loans, left an available balance of £47,390
3s. 9d., out of which the directors recommended a divi-
dend at the rate of four per cent per annum.
The Chairman, in moving the adoption of the report
and accounts said, that from what the shareholders
had seen with reference to .the generality of
railways, he did not .suppose that they. would
feel any surprise at the receipts during the
past half year not being in excess of those of the
corresponding period of the previous half year, for it was
notorious that the depression which had existed in the
trade of the manufacturing districts of Lancashire and
Yorkshire, through which their line passed, had neces-
sarily affected the-receipts of that company, in connection
with those of all neighbouring lines. Although,
however, their receipts did not exhibit any
appreciable increase over those of the corres-
ponding period of 1857, still they had every
encouragement to believe that with the steady and
gradually improving trade of the district, the receipts of
the company would be materially augmented, and in
proof of this, he might point to their receipts durinc,
the first four weeks of the ourrent half-year
°
which• showed an increase over those of the previou
corresponding period, of zo I.Qs4 than £4,019. H

then, at some length, entered into a detailed explanation
in reference to the expenditure which had been incurred
during the past half-year in the maintenance of way, and
pointed out that the safaty of the public, as well as the
interests of the shareholders, had called for it. Referring
to the proposed amalgamation with the Lancashire and
Yorkshire Company, he expressed his surprise that
the amalgamation bill should have been defeated
last session, when before a committee of the House of
Lords, having passed the House of Commons after the
most rigid scrutiny. In regard to traffic, the two com-
panies were working most harmoniously together ; but
both boards were confirmed in the opinion, that for the
effectual working of the lines to those several ter-
mini at Liverpool and other places, which were
common to both companies, an amalgamation was abso-
lutely essential. They were, therefore, again applying
to parliament for such amalgamation, and, for himself,
he had every confidence in their being successful. After
some further remarks, he concluded by moving the
adoption of the report.
The motion having been seconded by Mr. Riley, the
deputy chairman,
Some discussion took place, in the course of which the
chairman, in answer to a shareholder, said, it was under-
stood that the amalgamation bill last year was defeated
in the committee of the House of Lords, by a majority
of one only.

The report having been adopted, and a dividend in
accordance with it declared, the retiring directors were
re-elected, after which the proceedings•terminated.

LIVERPOOL GOVERNESSES' INSTITUTION.
Yesterday, the annual meeting of the friends of this
Institution was held in the Savings' Bank, Bold-street.
The Rev Archdeacon Jenes in the chair.
• The Chairman said, he believed it to be his duty to
take the chair, as it was the rules of the society. They
had been accustomed to meet in Canning-street, but the
distance had been thought too great, and,. therefore, they
had met in the Savings' Bank. They would do their
work quietly as had been their custom. He then called
upon Robert Esq to read the annual report
and the financial statement.

The Treasurer said, it gave him great pleasure to state,
that since he came to that meeting, he had received four
donations, which amounted to £45, towards the proposed
new annuity. There were still £3OO more wanting. He
then proceeded to read the

ANNUAL REPORT,

" In presenting'the ninth annual report of the Liverpool
Governesses' Institution to its friends and subscribers,
your committee are not enabled to announce any
decided improvement, nor, except as regards a falling off
in the amount of subscriptions, a circumstance accounted
for by the state of the times, have they to deplore any
declension.

"The number of registrations, applications for
goVernesses, and engagements, is nearly, the same as in
the preceding year, and the same number of governesses
were received into the home.

"Your committee gratefully acknowledge the sum of
£253 8s 6d received in legacies, viz., the sum of £B3 8s 6d
from the late Miss Twentyman, per Harmood Banner,
and Daniel Willis, Esqrs., as executors, being a portion
of the nett residue of the 'estate of the said testatrix;
the sum 'of £lOO, less £lO ;duty, from the late Israel
Barned, Esq., of Regent's Park, London, per Charles
Mozley,• Israel Lewis Barned; and Sampson Samuel,
Esqrs.,'his trustees; being the amount appropriated by
them to the Governesses' Institution, . out of the sum of
£2,000 bequeathed by him to such non-Jewish charitable
institutions in Liverpool as they might think fit to
select ; the sum of £5O from the late William Tyrer,
Esq., per John Highficld, and Richard Withers; Esqrs.,
executors; together with the sum of £3O, donation from
Mrs. Moss, of7Otterspool, at the request of the late John
Moss, Esq.
"With the exception of the £9O from the trustees of
the late Israel Barned, Esq., who expressed a wish that
it should be placed to the account of the general fund,
the legacies have been approprieted by your committee to
form the commencement of a sixth annuity for an aged
governess ; and they entertain a hope that, with the assis-
tance of some benevolent individuals, the requisite sum
of £5OO may be realised before the close of the present
year.

" Several cases of extreme distress have been relieved
from the benevolent fund.

" The five annuitants have received their annuities, and
it effords your committee pleasure to state that the health
of two of them has greatly improved. Your committee
have received some very satisfactory and pleasing letters
during the year from governesses who. have enjoyed the
advantages and comfort of "the home."

" in consequence of its having been frequently urged
that the terms fixed by your committee were. so high that
daily governesses could not afford to reside in the Insti-
tution, it was decided, at their last quarterly meeting, to
reduce them from 14s. and 125., 6d. to 12s. and 10s. 6d.
per week, the experiment to be tried for a year; and
your committee feel confidence in stating that, while the
comfort of the inmates has been amply provided for, there
has been no needless expenditure, but everything has
been conducted with the' strictest economy.

"Your committee beg to offer their sincere thanks to
the, medical officers for their invaluable services, which
have been gratefully acknowledged by those ladies who
haVe had the benefit of their advice. Their thanks are
also due to Mr. James Smith for keeping the pianos in
tune.

" In concluding their report, your committee entertain
the hope that those friends who have hitherto so kindly

granted their support will continue to take an interest in
the institution, and that -new subscribers will come
forward to fill the place of thoSe who have been removed
by death. They also trust that He who has made them
the instruments of much rood to a most valued and
deserving class,_ will gradously grant them His blessing."

The financial statement sliow'ed a balance in favour of
the institution to the amount of £5,480.

The Chairman said it would be'Well for the public to
know the state of things with respect to the institution.
He regretted the subscriptions having fallen off, but still
there was a very important and; pleasing feature, and
that was, that the legacies had increased., They had all
reason to be thankful to the gentlemen who had come
forward, and to the donors. ,

Mr Martin said he regretted to find such a small
attendance of gentlemen, but he looked upon
it as business, and not through • coldness to-
wards the in§titntion, which had been the
cause of their absence For his own part he had had a
doub'e influence brought to bear upon him. One was
the presence of the ladies, and the other that he had
been a trustee connected with the itstitution. He had
been connected with it from its infancy, He thought
infancy a proper term, for, about twenty-two years ago,

when it niet in a small room in South John-street, it was
indeed in its infancy. He ;was happy to find that that
charity, which had such a small beginning, was in -such
a prosperous condition. There was one thing upon
which he wished to say a few words with regard to the
report,- and that was, that a gentleman of the Hebrew
Persuasion had left a legacy to the institution. That was
not the only instance of Christianity among the Jews,
for he had known many others. The ladies who
had assisted that institution, had not only assisted that
but many other such, and he hoped that: the result of
their labours would encourage them to go on. There
was the visitation of workhouses by ladies, for which he
was an advocate. Poor people, when they went into a
workhouse, would feel from the visits of these ladies that
they were not left to the steel hearts and iron hands of
parish officers. The ladies should try to elevate the moral
status of the governesses, not with the governesses them-'
selves, but with the ladies who employ them. He lamented
the treatment or governesses in many families, and that
very often she was superior to the. one froth whom she
was obliged to earn her bread by hard necessity.
thought that the lady friends of the institution, by. using ,
their influence, could do a'great
.deal for the governesses.
It was the duty of the parties themselYes to be respectful
to those people, and not treat them as menials. He eon-
eluded' bY.moVing "That the report and statement of
accounts 1)3- printed and circulated."
. Mrs. Langton seconded the resolution, by a few re-
marks, in which she stated that the governess was the
most important person in the family.
The Chairman, in putting the resolution, remarked that
it was a most dangerous thing for :ladies to treat gover-
nesses as any other than ladies,- as the daughters of such
people, brought up by_ such an example,would be inclined
to treat those below them in wealth with pride and
supercilliousnesS ; and who could. tell what might take
place with respect to any one, as wealth and its possession
was very fluctuating.
Mr. Banner moved " that the thanks of the meeting
be given to those ladies who have given their time and
attention to this institution from its commencement."
He mentioned a circumstance that came under -his own
notice, where a lady, by a worthy governess, - had been
,influenced to leave a legacy to the institution.
Mr. Anderson seconded the resolution, and mentioned
the wisdom which had been displayed in selecting a lady.
superintendent, who had given satisfaction to all ni
her selection of a governess. He had great pleasure
in giving his testimony to the excellant manner in which
she discharged her duties as superintendent. .
The chairman hoped these remarks would he noticed,
as they wanted the public to know that some of the first
gentlemen in' Liverpool were indebted to the institution
for their selection of governesses, and that they wanted
the governesses to feel that there they,would be treated
as ladies, and. have every opportunity of obtaining a
situation, providad that their qualificatims wore equal to
the call.

Tho ROV. Mr. "Knox moved that the thanks of this