The Sun.
London, England, 1853-09-29 00:00:00

will work. Carpenters earn easily 20s. to 255. per day,
and bricklayers nearly as much ; and any man may make
10s. per day on the roads.
" Owing to the blundering of the Australian Royal
Mail Steam-packet Company, steamers are looked upon
wii h sad suspicion here, though the quick passages of
the Harbinger and the Hellespont—the former in less
than 69 days and the latter in 75 days, the two quickest
ever yet made--have served to awaken confidence in the
General Screw Steam Shipping Company. " W."

RAILWAY INTELLIGENCE.

SHREWSBURY AND CHESTER.

The half-yearly meeting ofliis companyvas held
yesterday at Chester. The meeting was also summoned
specially for the purpose of authorising the directors to
raise 76,1401. (being the balance remaining unissued of
the 173,400/, preference stock authorised by the act of
1851) by the creation of new shares to be apportioned
pro rata among the present shareholders. The chair
was occupied by Mr. John Williams.
The report, which was read by Mr. Nicholls, the
secretary, announced a considerable and regular increase
of traffic in the half-year ending the 30th of June over
that of preceding half-years, notwithstanding the pres-
sure of the competition which had been for a long time
weighing upon the property. The number of passengers
carried in the half-year had been 215,646, and the goods
269,099 tons ; the receipts from both being 50,428/.
In the corresponding half of the last year the number of
passengers carried was 184,986, and the goods 230,277
tons, producing in receipts, 43,4861. Though the gross
receipts had thus increased, the amount received on the
through traffic had considerably diminished, partly in
consequence of the London and North-Western Com-
pany having practically reduced their passenger fares to
a lower rate than was charged on this line, and partly
from this company having declined, during some part
of the half-year, to continue carrying a certain de-
scription of the through traffic at the existing very
low and inadequate rates. By this means, however,
they had been enabled to increase their accommo-
dation for the local traffic, which, although paying
considerably higher rates than the through traffic, was
suffering from the deficiency of rolling stock. The direc-
tors did not anticipate any profitable increase on this
through traffic until the Great Western Company was
completed for through working. The rise in the price
of labour and materials had increased the working ex-
penses of the line, and the directors expressed regret
that so large a proportion of the revenue should be ab-
sorbed in such expenses. The expenditure in the loco-
motive department would be reduced under new ar-
rangements made in this department. The locomotive
stock, which had been examined by Mr. Boyer, locomo-
tive engineer of Liverpool, was reported by that gentle-
mad to be in excellent condition. The line from New-
port to Abergavenny would be opened in the course of
the present half year, and a considerable increase of
traffic was expected from that line, which would conn et
the iron districts of South Wales with Liverpool. The
local mineral traffic of the Shrewsbury and Chester line,
which was only limited by the amount of the facilities
for its transmission had considerably increased, and, with
such arrangements at Birkenhead as would improve the
shipping accommodation, the trade might still be doubled.
The directors added that they were now negotiating for
the required additional accommodation with every pro-
spect of success. The Parliamentary proceedings of the
half-year had been confined to the opposition made to
hostile lines. A bill for a line from Oswestry to Newtown,
which had been encouraged by the directors, but had
been thrown out, they recommended should be taken up
and prosecuted in a future session as being of essential
importance to this company. An eminent contractor had
offered to make that line, and to guarantee for a term of
years 4 per cent. on the capital. They also recom-
mended a new project for a line from Wrexham to
Ruthin, and another for a short line from the Dee via-
duct to Llangollen. The directors next adverted, in
terms of congratulation, to the state of the protracted
negotiation with the Great Western, and intimated that
they had prepared an agreement for carrying out the
amalgamation on the terms proposed—viz., 34 per cent.
and half profits from the Ist of January next. To raise
the capital for which the special meeting was called, the
directors proposed to issue 7,614 shares of 101. each, in
the proportion of one share to each 1501. of stock, bear-
ing interest at the rate of 5 per cent, per annum from
the 29th of October next, on the sums from time to time
paid up, and redeemable on the same date as the for-
mer issue of preference shares, with a bonus of 10 per
cent. The report concluded by recommending a divi-
dend of 1 per cent. per annum on the ordinary share
capital of the company, besides the dividends on the pre-
ference shares.
The statement of accounts was taken as read.

The agreement with the Great Western for carrying
out the terms of amalgamation, as agreed to at the meet-
ing on the 13th inst., and embracing the offer of 3i per
cent. and half profits, was next read.
The CHAIRMAN, in moving the adoption of the report,
observed, that it referred generally rather to matters of
internal management than anything else, and therefore
was fitted to be explained, if explanation was required,
in reply to questions from the proprietors, and any such
questions he should be happy to answer.
The resolution that the report be adopted was put
and carried unanimously. as were also the formal reso-
lutions authorizing the dividend.
It was then proposed that the retiring directors,
Messrs. J. Williams, John Royle, James Haswell, arid
J. P. Gubbins, be re-elected.
Mr. MUNROE objected that the three first-named
directors ought, by the terms of the statute, to have re-
tired a year ago, and, it being required that four should
go out annually, the board ought now to place eight
seats in the direction at the disposable of the pro-
prietors._

The CHAIRMAN moved that Mr. James Haswell be
re-elected a director, whereupon
Mr. IkluNuoE moved, as an amendment, that Mr.
Kennedy be elected instead.

The amendment having been put, was lost by a large
majority, and Mr. Haswell was re-elected. The chair-
man and Mr. Royle were next elected, and Mr. Samuel
Holine, the Mayor of Liverpool, was elected, on the
motion of the chairman, in the room of Mr. Gubbins.
The auditors were then appointed, and the appoint-
ment of Mr. John Nichol! as secretary, in the room of
Mr. Darkin, who had resigned, was confirmed.
Mr. MUNROE proposed a resolution requiring four
other directors to retire, and nominating four other gen-
tlemen in their stead.

The CHAIRMAN stated that they had the opinions of
Sir F. Kelly and Mr. Butt, Q.C., to the effect that four
directors only were required to go out at the present
meeting ; he must, therefore, decline to put the motion.
Mr. MUNROE protested against the chairman's decision
and intimated his intention to resort to the remedy which
the law gave him.

The special business having been called on,
Sir W. JOLINSTONE stated, that he and those with
whom he acted did not intend to press for the investiga-
tion as to the shares and transfers, considering that the
results would not justify the expense. He, however,
intended to move an amendment to the motion for con-
firming the terms offered by the Great Western Com-
pany, to the effect that the meeting disapproved of the
appointment of directors pledged to give effect to that
offer, inasmuch as it precluded the board from consider-
ing any amended offer from the North-Western Company,
an that the meeting declined to entertain an offer from
any company short of 4 per cent, and half-profits. He
was quite confident that by holding on. the Great-
Western would come forward with still better terms.
The CHAIRMAN put Sir W. Johnstone's proposition as
a substantive motion, it having been first seconded and
spoken to by several proprietors.
Mr. THORNTON contended that the London and North-
Western Company were not in a position to make any
offer to the Shrewsbury and Chester Company so long
as the agreements which had been entered into existed.
He concluded with an amendment declaring the entire
confidence of the meeting in the directors, and approv-
ing of the course they had taken in endeavouring to give
effect to the alliance with the Great Western on the
terms proposed.
Mr. WATIIEN seconded the amendment.
Mr. ROY warmly defended the directors, and contended
that to repudiate the proposed terms of amalgamation
with the Great Western, after all that had taken place,
would be a breach of mercantile faith.
After a lengthened discussion, which frequently became '
angry and personal, and called forth numerous explana-
tions, Sir W. JOHNSTONE replied, and the question was
put from the chair, when Mr. Thornton's amendment
was carried by a considerable majority.
Captain BULKELEY, a Great Western director, who had
voted for the amendment, demanded a poll, in order to
show that the large majority of the proprietors were in
favour of the Great Western amalgamation.
The CHAIRMAN appointed the polling for the end of
the meeting, after the other business.
• Resolutions for raising the additional capital were
next proposed and passed, and the meeting adjourned till
• 1 this (lay at 12 o'clock, to receive the report of the ecru-
- I tineers of the poll on Mr. Thornton's amendment.