The Sun.
London, England, 1849-02-01 00:00:00

RAILWAY INTELLIGENCE
LONDt)N AND GuEEN‘vP7I.I.

Tw>sd,:y the • usua? yo,:ry I pr ,pre- rs
was h 5 1,1 ac, the Company's office, 10, C,L,man- s,revf ;
Mr. Shrtdbolt in the chair.

Tlr• CHAIRMAN said before the accolln,s for thf,
year were laid before them, which w generally the
only business of the ITlnifiLf, he was sorry to have to
report that sine, they taNt ass,,alh!e.l -th,r the e,,at-
p tny ha-i sustained a loss of nearly 1,0001 from a trau-
rtulent !orgery of certificates committe i by a young man
who had been four years in the company's service as a
clerk, and who had originally come to them strongly
recommended from the Blue-coat School. The youth
was very respectably connected, and had conducted him-
self very honestly and efficiently until his recent
misconduct was brought to light. The lad had ab-
sconded, and was now supposed to have escaped to
America; but the directors had employed Forrester to
take the necessary steps to effect his apprehension. The
forgery had been perpetrated with a degree of ingenuity
that eluded the most careful supervision of the secre-
tary and the directors ; but the board thought they had
now devised such-measures as would preclude the com-
pany from being ever again made the victims of such
dishonesty. The loss thus occasioned would make no
difference in the dividend this year, because there were
ample funds to meet it ; but it would, perhaps, be ne-
cessary to delay the increase of the future dividend, to
compensate for the defalcation. The directors greatly
regretted this circumstance, but with all the care in the
world, forgeries could not be always guarded against.
Mr. WILSON (director) then submitted the profit and
loss account. It was as follows :

DR.
To dividend of 3s. 93. per share on
43,0771. original shares £8,076 18 9
To Interest—Bonds, 5,8321. 10s. ; Pre-
ference Shares, 5,5681.
To half-year's annuity to Mr. Nash ...

... 11,400 10 0
7 10 0
236 4 8

To Property-tax •.•
To expenses—Salaries and Directors'
remuneration, 269/. 103. ,• rent of
office, advertising, &c., 721. Os. 3d ...
Balance

341 10 3
... 7,741 17 10

£19,727 12 9

CR.
By Balance of profit and loss to June
30th, 1848 ... £7,743 18 6
By amount taken from the surplus assets
of the Company ...
By half-year's rent of railway, due Dec.

333 0 3

... 19,500 0 0
... 7 7

31st, 1848
By transfer fees ... ... ...
By interest on bonds held by the Com-
pany (8,800) ... ... ... ...

220 5 3

£19,727 12 9
By balance ... 7,741 17 10
The CHAIRMAN said, the directors recommended a
dividend of 3s. 9d. on the unprivileged shares should be
declared from the available balance, to be payable on the
9th proximo. He then moved that the accounts just
read be received and adopted.
Mr. HITCHINS seconded the motion, and asked if the
company had received any security at the appointment
of the clerk who had since robbed them?

Mr. WILsoN—No; there is some difficulty in getting
a security in such a case, because the trust is not a
money one. It is unlike a case of embezzlement; it
was a forgery of deeds; but the directors think they
will be able to prevent the possibility of the like occur-
ring again.
Mr. lIITCHINS-I think this is a case which shows the
absolute necessity of requiring a security from every
clerk to a public company, however strongly he may be
recommended, or however well he
,may be connected.
The motion was then put and unanimously agreed to;
the dividend was declared; and Messrs. F. Maubert and
Josiah Wilson, the two retiring directors, were unani-
mously re-appointed.
M. MetrBERT suggested the advisability of the direc-
tors considering the propriety of reducing the interest
on the company's bonded debt to four per cent. Their
security was one of such a character as was rarely to be
met with in this country; and he thought they would,
in these times, have no difficulty in obtaining money at
four per cent.
Thanks were then severally voted to the Chairman and
directors, and to the secretary (Mr. Adson), and the
meeting broke up.

RAILWAY SHARE MARKETS.
BRISTOL, JAW. 31.
STOCK EXCHANGE. —Great Western, Quarters, were done
at 1 L dis.—Ditto, New 171. Shares, 13-16 dis.— Midland
Stock, 9614—Ditto, 50/. Shares, 4 dis.—Eastern Counties,
11%—York, Newcastle, and Berwick (G. N. E. Purchase'
1 7-16 p.

LIVERPOOL, JAN. Sl.
STOCK EXCHANGH.—The sales are—Aberdeen, 20—Bol-
ton, Blackburn, Clitheroe, and West Yorkshire, Preference,
6 per cent. guaranteed (B), 171/s—Caledonian, Preference,
p.—Great Western, Quarters, % dis. —Lancashire and
Yorkshire (late Manchester and Birmingham), 15 dis.—
Ditto, Quarters, 3V4 c. dis.—Ditto, Fifths, 21 dis.—Ditto,
321. Shares (late Extension), dis.—Ditto, 10/. Prefer-
ence, 13/ p.—Ditto, Halves (late W. P. and G.), 42
Ditto (late West Riding Union),Fifths, dis.—London and
North. Western, 137 c.— Ditto, New Quarters, 5J p.—Ditto,
Quarters (C), 3% p.—Ditto, Thirds, 9—Manchester,
Sheffield, and Lincolnshire, 101. Preference, 11%—Ditto,
201. 'Shares, 10 dia.—Ditto, Quarters, 6 c. dis.—Midland
Stock, 9S—Ditto, New Halves, 3 dis.—North British, 16—
Ditto, Quarters, 33k—North Staffordshire, 2% dis.—
Scottish Central, 25% Shrewsbury and Birmingham, Pre-
ference, 8 per cent. guaranteed for ten years, 9% c.—
Shrewsbury and Chester, 101. Preference, guaranteed 8 per
cent., 14,1i—Shropshire Union, 51s. 3d dis. South-Eastern
and Dover, 26%-Ditto, h o. 4, Thirds, 7% —York, New-
castle, and Berwick (Extension, No. 1), 21A p.— Ditto (G. N.
E. Purchase), 1% c. p.—York and North Midland, Prefer-
ence, guaranteed 6 per cent. till 1850, 14 c. p.
MANCHESTER, JAN. 31.

Sroca ExcHAXGET—The sales are—Manchester and
Birmingham, Quarters (C), 3 13-16 p.—Leeds, 32/. Shares,
6 dis. —Caledonian, Preference, 1% p.—Leeds, Fifths, 2%
dis.—Ditto, Preference, 134 p.—Ditto, Sixteenths, 5 5-16
Preston and Wyre (A), 5 1-16 p.—Sheffield and Lincoln,
12 7-16 dis.—Ditts, Eighths, OA dis.—North Staffordshire,
3!4 dis.—Chester and Birkenhead, 151,41 dig. —Cheshire Junc-
tion, 9% dis.— Grimsby, 201. Shares, 1014 di•.—Scottish
Central, 25%—`Vest Riding Union, 3% dis.—East Lanca-
shire, Preference, 714—South-Eastern and Dover, No. 4, 73/4
Grimsby (Docks), 121,4 die.
BIRMINGHAM, JAN. 31.

STOCIC ExCHANGE.—The following are the day's quota-
tions:—North Staffordshire, 234 dis. —Shrewsbury and Bir-
mingham (A), 5 dis.—Ditto (8), 31. 3s. 9d. dis.—Ditto, Pre•
ference, 335. 9d. p.—Shropshire Union, 2% dis.—South
Staffordshire, 2% dis.