The Sun.
London, England, 1855-09-20 00:00:00

(THIS EVENING.)

CESAREWITCH.
8 to 1 agst Robgill (taken)

DERBY.
20 to 1 agst Ragerthorpe (taken)
25 to 1 agst Polmoodie (taken)
50 to 1 agst Peter Flat (taken)
50 to 1 agst Ringdropper (taken)
50 to 1 agst Ephesian

(THIS DAY.)

(BY ELECTRIC TELEGRAPH.)

POST•OFFICE HOTEL STAKES.

I'ourgeois

Biron
Cherry Brandy
Three ran.
CHESTERFIELD HANDICAP.

Byrsa
First Fly
Shelah

Seven ran.
WILTON HANDICAP.

Gamelad
Catherine Parr
Van Winkle .

Five ran.

LATEST BETTING.
WILTON HANDICAP.
5 to 4 agst Lady Bird (taken)
6 to 1 agst any other

1074

1.11
451 i

31 3
56

41
331 2/

AM.Mr
t
C 4 ht

SUN OFFICE, Seven o' Clock.

TATTERSALL'S.

MANCHESTER RACES.

.Y
. 2
.3

.1
. 2
▪ 3

CHESTER AND HOLYHEAD RAILWAY.
(THIS DAY.)

This afternoon the ordinary half-yearly meeting of the
proprietors of this railway was held at the Euston-square

station, Sir S. M. Peto, Bart., in the chair, for the trans-
action of the ordinary business of the company, to re-

ceive the report of the committee of shareholders, and

transact the business left in abeyance at the last half-
yearly meeting.
The SECRETARY having read the notice convening the
meeting, and the minutes of the last meeting, the re-
port of the directors, and that of the committee of share-
holders, already published in The Sun, were taken as
read.

The CHAIRMAN moved the reception and adoption of
the report of the committee of proprietors, and in doing
so said—lt might appear to the proprietors desirable

that it should be done by the chairman of the committee
instead of the chairman of the directors ; but there
had been that harmony of working between the direc-

tors and the committee that the former considered the
motion might be rcoved. by their chairman, especially
when it was recollected that the appointment of the com-
mittee was suggested by the directors, and approved of
by the proprietors. The committee deserved the best
thanks of the proprietors for the diligence with which
they had laboured for the benefit of the shareholders,

and he therefore hoped the result of their labours would
be acceptable to them by the unanimous adoption of
their report. He should not enter into the detai!s of
the report, leaving that to some one of the members of
the committee, and would merely add that the com-
mittee on meeting the board this morning had
suggested it was desirable they should be con-
tinued as a committee until the arrangements theysug-

Bested with the London and North-Western Railway
were perfected, which the directors consented to, with
the approval of the shareholders.
Mr. HEALEY, in the absence of the chairman of the
committee, seconded the motion. He hoped the report
would be found sufficiently explicit, and not require any
enlargement from him. He believed the committee had
arrived at as favourable a conclusion a,s could be under
all the circumstances.

Several questions were put to Mr. Maley with re-
ference to the position of the company and the basis o:

the arrangement suggested with the London and North-
West,rn Company (fully explained in the report), which
were satisfactorily answered by the above gentleman.
The committee's report was unanimously received and
adopted.
The CHAIRMAN then moved two resolutions, to the
effect that the arrangement with the London and North-
Western Company, of which the basis was stated in the
report of the committee of shareholders, be, and the
same is hereby, approved of, and that the directors be
authorised to carry out the same, and concur in any
deed or instrument to complete the same, with such mo-
difications as they might think fit. That the committee
of shareholders continue their services and assist in car-
rying out the arrangements.
Mr. HEALEY seconded the resolutions, which were
unanimously agreed to.

The meeting then proceeded with the ordinary bus
ness.

The CHAIRMAN, in moving the reception and adoption
of the report, called attention to several points of detail,
contrasting it with the past and the future prospect
of the company. He took a cursory view of the traffic
during the past five years, the last half-year giving only
an increase of 635 persons over that of 1854, which was
to be attributed not to any opposition by a more favoured
route, but from those causes that had affected all the
lines of the kingdom—the pressure of the war. The

absence of the military from Ireland had made a great
difference in the numbers of persons travelling to and
from that country (officers and their friends visiting
them), giving a decrease of 2,2791. Bs. for passengers
on the line, and 2,7221. 18a. by the boats. In the goods
department there had been a steady increase during the
half-year ending June 30, 1855, compared with 1854, of
27,378 tons, and of rates amounting to 5,6311. 15a.
The increase of expenditure had been 1,1311., giving a
net increase of 4,6001. against the falling off on the pas-
senger traffic. During the time he had filled the chair
the passenger traffic bad doubled, and the goods traffic
had trebled. He next adverted to the accounts, which
he said bad been presented in a more extensive manner
than formerly, at the request of the proprietors. He
entered into the details of increase and deerease of ex-
penditure, and in reference to the items for law expenses
and compensation for accidents, said that juries returned
their verdicts in such cases rather in accordance with

the rank of the person who met with the accident
than by an estimate of the carelessness of the
Company who might have occasioned the accident. When
first he accepted the chair, he felt there was only one
way by which they might hope to receive a dividend—
hat of increased rate, and from them an increased divi-
dend. (Hear, hear.) In the rapidity of the develop-
ment of the resources of the line he had been grievously
disappointed, although he bad never for a moment
doubted what they were, and if he had been thrown
out a little in his sanguine expectations of an earlier
realisation of his ardent hopes and wishes, he learnt
from the report of the Committee of Shareholders there
was still a hope of their future satisfactory development.
(Hear, hear.) He looked forward to the arrangements
about to be carried out between the company and the
London and North-Western Company as the best that
could be done for the interest of the shareholders of the
Chester and Holyhead line, which ought never to have
been a separate undertaking from the London and
North-Western. He believed the true problem to be
solved by railway companies was, to get as much as they
could out of the public, but not to ask too much, and
deter them from using their lines, which would not be
doing business at the best advantage. He felt, when
in business, if he could not get a good profit it was best
to be satisfied with a moderate profit—but one he always
would have, which he thought also applicable to
railways. He next adverted to the effect rates
had upon dividends, contrasting the English with
the Continental lines, explaining that the latter
paid better dividends on account of the small cost of
their construction, and the fostering care they met with
from the Government, whereas in this country the cost of
construction was high, and the policy of Parliament to-
wards railways oppressive and suicidal. After a few
other remarks with reference to the London and North-
Western Railway and the Chester and Holyhead Rail-
way, and the works constructed at Holyhead, and again
impressing on the meeting his belief that the arrange-
ments they were about to enter into with the London
and North-Western Company would be for the benefit
of the shareholders in the Chester and Holyhead Rail-
way, concluded by moving the resolution he had pro-
posed, which, having been seconded, was, after a very
short discussion, unanimously agreed to.
A dividend of 12s. 9d. on the original preference
shares was agreed to.
Thanks were then voted to the committee of share-
holders and to the chairman and board of directors, and
the theetiug terrailtated!