The Sun.
London, England, 1853-02-09 00:00:00

RAILWAY INTELLIGENCE.

NORTHERN COUNTIES UNION.
The half-yearly meeting of the proprietors of this corn
pany was held at the London Tavern, yesterday, Mr,
J. Middleton, chairman of the directors, presiding.
The accounts laid before the meeting showed an avail-
able sum, invested and in hand, of 15,5211., and an ex-
penditure, during the half-year, exclusive of about 3,000/.
interest, of 2941.

The CHAIRMAN, in addressing the shareholders, ex-
pressed a favourable opinion of the local scheme recently
projected for carrying a line from Laburn to Bedale,
which would traverse the same district intended to be
occupied by this company between Bedale and Penrith,
an extent of 69 miles, and enforced the request in the
report for a renewal of confidence until the next half-
yearly meeting. He assured the proprietors there was
no truth in the rumour that any arrangement had been
made by which their shares were to be taken by another
company at par. Its absurdity almost rendered contra-
diction unnecessary. Should any such good fortune ever
fall upon them, he need scarcely add that official intima-
tion would be immediately made through the directors.
The report was adopted, the retiring directors and
auditors were re-elected, votes of thanks were given to

,he chairman, the directors, and the secretary, Mr. L,
Webb, and the meeting terminated.

SHREWSBURY AND HEREFORD.

The half-yearly meeting of this company was held at
Shrewsbury yesterday, Mr. 0. Gore, M.P., presided.
There was a thin attendance of shareholders.

From the statement of accounts read, it appeared that
the gross receipts since the formation of the company
amounted to 337,0731. 35., and the expenditure to
291,7861. is sd; cash at bankers, 19,3621. 9s 3d ; and
ditto in the hands of treasurer, 401. 5s 9d:
The CHAIRMAN said it now became his duty to move
the adoption and approval of the report. Although un-
well, and recommended to stay at home, he could not
resist meeting the directors and shareholders of the
Shrewsbury and Hereford line on that occasion. (Hear.)
In going through the points stated in the report,
he might mention that Mr. Brassey, the contractor,
had, with that high honour which he possessed, steadily
adhered to every promise and engagement into which
he had entered. (Hear.) Having completed the fulfil-
ment, as far as Ludlow, of his contract, he had, as he
engaged, handed over 3i per cent. as guaranteed rental,
and out of this sum the directors now declared a dividend
equivalent to three per cent., the difference being with-
held for the purpose of discarging necessary expenses.
This, it must be recollected, was calculated upon that
portion of their line which had been completed between
Shrewsbury and Ludlow. The next point alluded to in
the report was the issue of forfeited shares to the present
proprietors, and he might be allowed to say that Mr.
Brassey was prepared to take his share (no inconsiderable
number) at the proposed 11. discount. He (the chair-
man) mentioned this because he thought that the fact
might have the effect of inducing many shareholders to
adopt Mr. Brassey's example. (Hear, hear.) He
might also state, before he dismissed this point, that
Mr. Brassey had made a proposition to the effect,
that he would enter into terms with the com-
pany by which the shareholders would receive the
same amount of dividend as that now declared until their
railway was fairly .pened to Hereford. (Hear, hear.)
The directors were inclined (so we understood the hon.
gentleman) to accept the offer for six months, and they
would then determine whether it should be accepted for
twelve. The report alluded to a bill proposed by the
Great Western Company for the purpose of allowing
_them to lay down a mixed gauge on their line ; but the
directors of the Shrewsbury and Hereford would not
assent to the terms proposed, and he had no hesita-
tion in saying that they would not be carried
through. After alluding to the differences which had
existed with other companies with regard to the Here-
ford station, and which he now hoped would be speedily
settled, the chairman said he could not sit down without
congratulating the shareholders upon the manner in
which their railway had proceeded. There were not
many railways which paid a good dividend before they
were completed ; but, above all, he might congratu-
late them upon the good feeling by which the
whole of their proceedings had been characterised.
At an early period of their formation some gen-
tlemen expressed a wish for the dissolution of
the company, and that deposits should be paid back
to the shareholders. He would leave honourable pro-
prietors, to say whether they were not now fully justified
in going forward. (Hear, hear.) A railway company
presenting a better aspect and freer from all annoyances
than the Shrewsbury and Hereford did not exist in the
country. (Cheers.) He concluded by moving the
adoption of the report—which, being seconded by Mr.
WILLIAMS, of Chester, was carried unanimously.
Certain shares were declared forfeited.

In answer to questions by shareholders, it was stated
that there were about 13,000 forfeited shares, upon
which an average of about 11. per share had been paid.
Thanks were then voted to the chairman and directors,
and the meeting separated.