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

REPORT

CAPITAL.—The total Capital Stock entitled to dividend, and
In the hands of the proprietors, stood in the books of the com-
pany, on the 30th of June, 1859, at the sum of £1,941,505 10s.
LOANS, DEBENTURE, AND MORTGAGE DEBTS.—The Loan and
Mortgage Account owing by the company on the 31st Decem-
ber last, stood at the sum of £511,362 15s. The directors have
paid off, during the past half-year, the sum of £38490,
leaving a balance on that account, on the 30th of June, 1859,
cf £493,072 15s. The amount received on account of four per
cent. debenture stock, issued to 31st December last, was
£1,325; a further sum has been received during the past half-
year, amounting to £4,845 ; making a total of loans, debenture,
ana mortaage debts due by the coma a ty on the 30th of June,
1359, of £499,242 15s.
EXPENDITURE ON CAPITAL ACCOUNT.—The sum expended
during the half-year ending 30th June, 1859, on capital account,
amounted to £5,503 25., the details of which will be found on
reference to the accounts.

REvENun.—The revenue account of the past half-year shows
'an increase, as compared with the corresponding half-year of
'MK, under each head, viz.: Passengers, parcels, Sze,
£1,913 7s. 4d. ; goods, £2,831; live stock, £1711(4, lid. ; tolls,
£1,022 Is. Bd. ; rents and fees, £lBl 9s.—total, £6,119 14s. 11d. ;
less mileage and demurrage, £B4 135.; nett increase,
£1,035 ls. Ild.
The working expenses are decreased by the sum of
£1,311 10s. 7d. as compared with the corresponding period of
the year 1858, and of £3,764 is. 2d. as compared with those of
the last half-year of 1858.
PARLIAMENTARY PROCEEDINGS.—The Mersey Dock Board.
haviag promoted a bill in the first session of this year to raise
further capital for the extension of docks on the Li verpool side,
your directors arranged with the Great Western Railway forrL-
Panv and the Birkenhead Commissioners to oppose the bill in
Vie 'Commons. The committee introduced into the bill a
Sinking Fund " clause, which met the principal objection of
your board to the bill as it originally stood, and no further
opposition was given by them to the measure. The Warrington
and Stockport Railway Company promoted a bill in the same
session to transfer the whole of their property to the London
and North-Western Company. Your directors felt that unless
the Birkeal.lead Company secured to themselves statutory
powers to run over that line through to Manchester the trans-
fer of the line to the North-Western Company would prove
most injurious to the interests of this company. Parliament
having concurred in the same view, inserted a clause in the
bill, securini? ' company power over the
_liouth Jun
measure h,

to th
itailwa

inning
Manct

Into
the royal

since received

.result of the application made to Parliament by this com-
pany for a bill authorizing, among other things, arrangements
between the Birkenhead, the North-western, and Great Wes-
lern Companies is most gratifying to your directors. A pro-
visional agreement, under the powers of the Birkenhead
Railway Act, 1859," has been concluded between the chairmen
of the three companies for the transfer, management, and
future working of your undertaking. A summary ( f the pro-
posed arrangement is attached hereto, and the proprietors will
be asked, at the special general meeting, to confirm the same.
Under section 27 of the same Act, the name of the company is
changed from "The Birkenhead, Lancashire, and Cheshire
Junctio Railway ..Company," to that of " The Birkenhead
Railway Company."
MISCELLANEOUS.—The directors retiring by rotation from
the board are Messrs. William Titherington, James Bancroft,
and John Rogers. The retiring auditor, Mr. H. C. Beloe,
offers himself for re-election. The balance to the credit of
revenxe is £40,706 35., of which sum £10,850 3s. sd. is required
for interest, leaving the sum of £29,855 19s. 7d. as applicable
to dividend. Your directors recommend the payment of a
dividend after the rate of 2 per cent. per annum, leaving a
balance of £5,587 4s. 4d. to 1e carried to next account.
E. G. SApSUURY, Chairman.

The Chairman said he had very little to say upon the
report, for, short as it was, it spoke itself. What he
ought first, perhaps, to call their attention to was the
expenditure of the capital account of £5,503 2s. under
the powers of the old acts of parliament, and not under
the powers of the new act, which they intended to carry
this•session. There was £2,881 ss. Id. standing against
the Hooton and Helsby branch ; an expenditure, of
course, authorised under a recent act of parliament, for
the purchase of land and other matters which they re-
quired to carry out the Hooton and H " '
They had reduced their debenture deb
Bast half year, but they 'had still got

£18,290 in the

during

e current

factory state of things as compared witl
half year. The nettb increase, as th
amounted to £6,035 ls. 11d

in g fact that this increase was

ia—the account. They would recoiled
bad been called at the last half-yearly
demands that were constantly being ni
by the public, and by the contractors
creased accommodation. It was his be
lieved it was the feeling of theproprietors,
yearly meeting, that they were giving
accommodation for the money received ;
the contractors had an accommodat
excess of the sum received from them
considered this matter, and (came tc
`to reduce the trains ; and by this arr

that of the last
report showed,

was a gratify-

n every item

attention

meeting to the

lade upon them
specially, for in-

and he be-
;, at the last half-

rather too much

; and, certainly,
ion very far in

L. The -directors
3 the: resolution

ingement much

a congratulated.

~ •
half-i7earafter half-year, on the progress of these docks,
he believed now they would be finished at the time
mentioned in the evidence of Mr. Hartley, given in the
House of Commons, and the Dock Board was as honestly
anxious to get these works finished as they were. He
then referred to the Warrington and Stockport Bill, the
supporters of which had been in great terror in conser
quence of the clause which that company wanted intro-
iZuced. When that bill came before the House of Com-
mons he felt, and his colleagues agreed with him, that
it was a bill of great importance, and affecting their
interests in a very peculiar way, and they considered
they ought not to let it pass without obtaining a clause
to enable the Birkenhead Railway Company to run into
Manchester by the south junction. They obtained
that clause ; and he believed that had a great deal to do