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

rile Chairman answered that it was the .4..

obtained the ro-va:
Mr. Mill asked

on the
as to b;

1. of August.
said about the suspen
account, in case of the agreement being concluded.

-, as it wa,s to be taken as a suspens

Mr. Huggins, after some observations with refer

lat they hail an agreement to corn-
.
mence at a certain time, and then they were to be
handed over to two great companies, and the terms

was merely sta'

which he did nc

taken into account ; and he would
say, in carrying that matter out, the agreement should

be one of perpetuity. There was no such provision in
this agreement. Who were the parties to carry out that
agreement? They did not know anything about it,
though he had the greatest confidence in the directors
themselves. They had to give these two companies
their property, and they were to work it, and then, per-
haps, give it them back again when the stock was worth
nothing. He was sure the chairman would explain the
whole matter. The coal trade of that country was a

very great one, and would give them great adva'ntages.
The Chairman said he would not say what Mr.
Huggins had said, for he (Mr. Huggins) was altogether

There was no mistake about that
rprnark of thn 'lnst crontiorrinn_ in

With regard "to the
O,IIIMI

ever the companies earned in excess of the 21 per cent.
for 1860, should come to them. But he could, say to
the honourable gentleman that they had tried very hard

raised by as great force by some of ills eo.deagues in this
negoeiation, and was answered with equal ability by
those who negotiated with them. He ought to. tell
them, in the very outset, in reply to a statement made,
that he had no doubt whatever in'his own mind that
—.don and North-western and the Great Western

Railway Companies would make more out of that link
than they would pay them; but they would not make
it. He was asked if there were any negoeiations going
on in the previous half-year. His answer was no. 'When
he took the chair, he stated to the directorA fhot

vUcl.4
he did not come there to sell that line to any
of the companies, but to endeavour if possible to
develope its resources; but to do that, he found he would
have to come forward to them to ask for an increase of
capital, as the expenditure had reduced the capital
account. It was then thought an arrangement might
be come to for the working of the line. He did not
ask them that the property should be transferred. lie
went to Lord Chandos, and asked him to see if he
could endeavour to have the line worked for
them either from the Great Western or from
the London and North-western district, makini,

this provision, that they should guarantee to them a cer-
tain amount of traffic for each district, and that the
working expenses should not exceed a certain amount.
He was told by Mr. Ponsonby that they could not guaran-
tee anything, as they were not able to pay their own
proprietors a dividend. Lord Chandos said he had no
particular objection' to a guarantee, but he did not quite
see his way to an arrangement. He had no doubt some
of the companies would have made an arrangement
with them with regard to working their trade ;. but
what was the use of making an arrangement with
either of the companies when they had no law to do it.
when the act of parliament would not sanction it? they