The Sun.
London, England, 1839-03-20 00:00:00

1 MANCHESTER AND LEEDS RAIL
WAY COMPANY,
—,,,-,-
MANCHESTER, MONDAY EVENING;
A half-yearly meeting of the Prop]
Railway was held at their offices, Hunt
chester, to-day.
1 JAMES WOOD, Esq., Chairman of tb
__ _
Directors, in the Chair. In opening the proceeding,
the Chairman said that the Directors met the Share-
holders on the present occasion, with at least as much
satisfaction as on any previous occasion. He would
call their attention to a few of the leading topics is the
Report, and first, as to the land for the Railway,
They would be glad to hear that the whole of
the land between the two termini had been
purchased, with the exception of two or three
small portions, the value of which would not amount
to more than some eight or ten thousand pounds.
The Directors had thought it right to resist
the exorbitant demands made on them for land at vari-
ous periods ; and though they had been dragged reore
than once into the Court of Chancery, and had met
with very vexatious opposition, and had been compelled
to expend very large sums in order to vindicate the
right entrusted to them—the Shareholders would be
glad to know that the entire line (save the three or four
points alluded to) had been purchased for a sum not
exceeding the revised Parliamentary estimate by more
than 50,0001. Ho thought this very satisfactory, es-
pecially if compared with what similar Companies had
done. He had looked at the London and Bir-
mingham, and the London and Southampton lines,
and though not disposed to blame any parties,
for he had no doubt they had done the best
they could, he thought it very satisfactory to
the shareholders that the revised Parliamentary esti-
mate had not been exceeded by more than 50,0001.,
including law expenses, while some lines, of less magni-
tude, had paid double, and some as much as treble, the
amount of their revised Parliamentary estimates. All
the contracts between the two termini had been let, at.
satisfactory prices, and to parties well capable of fulfil-
ling them. The whole of the contracts, with the
two or three exceptions already noticed were in full
operation. Of course very large sums of money had
been wanted for the purchases of land and for the
works, and the amount expended had been gene-
rally GO or 65,0001. a month. This was a proof
that the work had been proceeding satisfiictorily
and with considerable rapidity. The calls, although
very heavy, had been responded to with a promptitude
almost without a parallel ; for .50 per cent had been
called up, on the 100/. shares, and at the present mo-
ment not more than i per cent remained unpaid by the
shareholders at large.—(Cheers.) The amount which •
the Directors were authorized to borrow, under the
Act, had been borrowed, and considerably more money
had been offered on loan, but of course the Directors
could not accept it ; but those who offered it, would be
entitled, when another Act was obtained, to the first
chance of lending their money to the Company. - A
Committee of Directors recently appointed to examine
into the traffic, had proceeded to a certain extent in
their inquiry, and so far its result had been of
a most satisfactory nature.—(Hear, hear.) He regretted
that any unpleasant feeling should have arisen in the
minds of the Shareholders in reference to the non-
delivery of scrip ; but the fact was, that the Directors
were obliged, by the new standing orders, to pre,3ent
the receipt for the money received, without which the
Act could not be obtained. A great outcry had been
raised against the Company on account of the extension
or connection line passing through a portion of the burial
ground connected with the Manchester workhouse. He
must say that the parochial officers, in calling a meet-
ing of ratepayers on this subject, had been somewhat too
hasty. A great deal had been said about the want of
delicacy, humanity, and Christianity of this Company,
in disturbing he knew not how many thousand
dead bodies in that burial ground ; but supposing they
were to do so, this would be no new thing ; for the same
,had been done in reference to two roads near the Colle-
giate Church, without any outcry, and surely this Mil-
way would confer as great a boon on Manchester as
either of those roads. The Shareholders would be sur-
prised, and doubtless glad, after all that had been said
on this subject, to hear him state on authority, that in
passing through that land not one single body
_would be
disturbed by the Company. Three Directors were hal-
lotted out, the Hon. Captain Best, Mr. 11. Forth, and
Mr. Thomas Broadbent. They were re-eligible, and he
hoped as ail the Directors had hitherto worked har-
moniously together, that they would be re-elected. As
to the connection Railway of the Manchester and Leeds
line, at its terminus in Manchester, with the Liverpool
and Manchester line, he need only say, that by bring-
ing the passenger station to Hunt's Bank, passengers
would be landed within less than 500 yards of the Man-
chester Exchange, which would not only be a great con-
venience to passengers, but a considerable advantage to
the Shareholders at large. He concluded by calling upon
Mr. JAMES HEALD, a Director, who read the follow-
-1 hag Report of the Directors :