The Sun.
London, England, 1849-02-17 00:00:00

S 11 N 7 FEBRUARY 17, 1849.

brook-court, Basinghall -street; Barrow, Great Portland-
street.

(Dividends, &c., in our next.)
PRICE OF SUGAR.
The average price of Brown or Muscovado Sugar, corn-
puted from the returns made in the week ending February 13,
1849, is 255. 21/d. per cwt.

LONDON AND NORTH-WESTERN

RAILWAY.
The usual half-yearly general meeting of this com-
pany was held yesterday, at. the Euston Hotel; Mr. G. C.
Glyn, M.P., chairman of the board of directors, in the
chair.

Mr. STEwART, the secretary, having read the advertise-
men., convening the meeting, the minutes of the pro-
ceedings of the directors were confirmed, and the
common Foal was crdeied to be affixed to the register of
shareholders.
The CHAIRMAN then proceeded to address the meet-
ing. He said it was a source of satisfaction to the
directors that the exertions of their officers had enabled
them to place the accounts in the hands of the proprie-
tors several days before their being called together.
It was to be regretted that the expenditure of the com-
pany still continued exceedingly heavy, but this cir-
cuinstauee was to be traced to the severe opera-
tion of Lord Campbell's Accident by Rail-
ways Act, which had forced them to pay
upwards of 10,0001. in the shape of compensation for
damages which parties had sustained through travelling
on their line. There was another and, perhaps, a more
important cause which might account for the extent of
the expenditure. It would be seen by the report that
they had had a more extended plant to work in the
past than during previous half-years. It would also be ob-
served that the passenger-traffic had very materially fallen
off, but that result was reasonably to be expected, when
they remembered the convulsions which had recently oc-
curred on the continent, the distress which had per •
vasied the manufacturing districts, and the suff, rings
witch the country had encountered from the commercial
crisis of 1847.—(Hear.) In the goods' traffic, however,
he was happy to say there had been a gradual improve-
ment ; but perhaps that increase was not so much owing
to any buoyancy of trade, but rather to the change which
had taken place in their carrying department. It would
no doubt, be remembered, that some short time ago, loud
complaints were made by the public of the charges im-
posed upon them for carrying their goods these
charges were not incurred upon the railway, but in the
process of intermediate delivery between the rail-
way and the destination of the goods. At that
period the carrying trade was in the hands
of independent or private carriers, and an
intimation was conveyed to them that unless they re-
duced their delivery charges the company would be com-
pelled, for their own sakes, and for the protection of the
public, to take the trade into their own hands. Those
warnings were not regarded, and eventually the com-
pany changed their travelling system, and the result had
been as he had already stated, an increase in their traffic,
so much so indeed, that while the passenger traffic since
1846, the period of the amalgamation, had only in-
creased to the extent of 3,2711., the merchandise trade
had been increased ,by 91,1401.—(Cheers.) Some dis-
satisfaction had been expressed out of doors as to the
remuneration of the directors. It was said that the
directors were too many in number, and overpaid for
their services. He did not agree with that opinion.
He could not bring himself to believe that 1001. a year
each was too much, nor could ho think that for a
great company like this, forty-seven directors formed
too numerous a board for the management of its affairs.
(Hear, hear.) With regard to the accounts, the pro-
prietors would perceive that a change had been made in
tne mode of making them out, particularly as regarded
the debenture debt. This change it was anticipated
would tend to improve the condition of their finances,
and he hoped soon to see the day when their debenture
debt would be reduced to two millions only.—(Cheers.)
He saw no reason why they should not in the
course of time reduce the debenture debt to that amount,
without making any call upon the proprietors.—(Hear,
hear.) He would now glance for a moment at the cir-
cumstances which had recently so much depressed their
stock. He had no hesitation in attributing that de-
pression to a conspiracy which had been got up amongst
the jobbers; but now that the proceedings of that class
had been exposed, he trusted the proprietors—those
who bought shores as a permarnent investment—would
no longer be induced by Stock Exchange manoeuvres to
entertain doubts of the stability of their property.—
(Cheers.) He felt that he had already detained the
meeting sufficiently long; but he could not sit down
without making a passing allusion to the abortive nego-
tiations which had recently been carried on fur effecting
an amalgamation of the three great metropolitan cam-
patties. While he regretted that the negotiation had
fallen to the ground, he was bound to admit that they
were met by the South-Western and Great Western
Companies in a most liberal spirit, and he yet enter-
tained a hope that some arrangement would be eventu-
ally come to, though not to the extent that was originally
contemplated.—(Bear, hear.) An erroneous impression
bad gone abroad, that had ;the three parties agreed
the amalgamation would have been smuggled
through, Now nothing could be more fallacious than
to suppose that it was for the interest of public men to
pass such measures as this surreptitiously, and he could
assure the meeting that had the arrangement come to
maturity three distinct opportunities would have
been afforded to the proprietors for expressing
their opinion of the measure ; and had one
of the three bodies dissented to it the scheme would
not have been persisted in.—(Cheers.) He was not
aware that there was any other topic calling for observa-
tion, and he would not detain them further.—(Cheers.)
Mr. STEWART then read the report, of which the fol-
loss ing are extracts:—
" The causes to which the directors alluded at the last
meeting, as operating setiously against the traffic have
continued to affect the receipts in the passenger depart-
ment. The diminished resources of the public, the de-
crease of continental travelling, and the contrast with
the additional business produced by the meeting of Par-
liament in November, 1847, have combined to affect the
comparative returns of the half-year just concluded. The
receipts under this head are 18,0001. less than in the pre-
YiOUSperiod.

" On the other hand, the merchandise department ex-
hibits that steady improvement which has been apparent
each halt-year, more especially since the company took
the management of the business into their own hands.
The increase during the last six months, notwithstand-
ing the depression in trade, amounts to 11,000 L, the ex-
penses of conducting the department remaining nearly
the same.

" The traffic of the company was amalgamaied in
December, 1845, and the following comparison will show
the satisfactory progress of the merchandise business
since that time;—

Receipts. Expenditure
Half• year ending Dec. 31, 1845 £281,930 £56,517
Ditto ditto 1848 393,774 81,197

Increase
(The expenditure includes :repairs and renewals of
wagon stock.)

In the former year the carriers were on the line—in
the latter period the traffic was conducted exclusively by
the company.
" The balance-sheet in the hands of the proprietors
exhibits a further amount to the debit of working stock.
The engines ordered for new branches were delivered
before the lines which have bean retirded in their comple-
tion were ready for them, and they have, as received, been
passed into store. Feeling the importance that is natu-
rally attached to this item of expenditure, the directors
have, on this occasion, placed detailed information before
the shareholdera, which it is hoped will satisfy them of the
correctness of the:mode adopted with regard to this portion
•f their capital. It has frequently been explained, that the
practice of the London and North-Westesa Company is
to maintain the working plant at its full effective value,
repairing it as required, and replacing it when worn out,
from the current revenue. This has been carefully at-
tended to, and in addition to the heavy ordinary repairs,
new stock to the extent of 22,0001. had been infused
dui ing the last half-year. Since the opening of the
railway, a sum approaching half a million, has now been
thus appropriated out of income. The working stock is
generally in excellent condition, and the service has been
conducted with great regularity.
" In accordance with the sound policy of providing for
the deterioration of the rails, and their gradual renewal,
the directors have appropriated out of revenue a farther
sum of 10,2504 for this purpose.

" The Leeds and D wsbury Railway was partially
opened for passenger trAffic in the autumn of last year;
and both this line and the Huddersfield and Manchester
Railway (which, together, will form a new and improved
route between Leeds and Manchester), will be opened
to the public early in the ensuing summer.
" From the statement of the half-year's
accounts it will be seen that the not
proceeds aro ..• ...,4596,202 9 0
To which must be added the balance
carried forward from the lust half-
year ... ..• ... 44,368 1 0

£640,570 10 0
Less further allowance for the renewal
of rails of ... ... ... ... 10,250 0 0

Leaves disposable ••• ...£630,320 10 0
Out of this sum the directors recommend a dividend of
31. 10s. per cent. for the six mouths, amounting to
558,9221. 9s. 10d.; leaving a balance of 71,3981. Os. 2d.
to be carried to the next half-year's account.
" The directors desire again to bring under the serious
consideration of the proprietors, the onerous and exces-
sive charges to which their property is subjected under
the head of local rates and taxes, amounting for the year
just ended, to 58,6501., exclusive of incidental charges.
" The directors expect that the various works in
which the company are interested will be completed in
the course of next year, from which period, the amount
to be received on calls will be applicable to the reduc-
tion of the debenture debt.
" Mr. Creed having retired from the office of Secretary,
Mr. C. E. Stewart has been appointed to succeed him.
Mr. Benbow, M.P., baying resigned the office of director,
has been succeeded by Mr. Creed. In conclusion, the
directors may congratulate the proprietors upon the
favourable auspices under which the present halt-year
has commenced. The returns of traffic fur the first six
weeliN 9 1849, illefY ma income ver the cureipooipg

'l".N•ii!..!•, s
.."----------
// ' ~,,r;),—,,,(04-t---07
t. ' 72,Z----

[PRICE SD.

period of 1848, of 14,4001., which the directors trust
may be regarded as the commencement of that enlarged
traffic to be anticipated from the returning prosperity of
the country, and which the proprietors need not be re-
minded will be necessary to maintain the present posi-
tion of the concern, as the various subsidiary and branch
lines (in which the company have a large vested capital)
shall severally come into operation."
The CHAIRMAN then moved that the report be adopted,
and the accounts, which have already been pubiished in
The Sun, be confirmed.
-

Mr. LAWRANCE, the Deputy-Chairman, seconded the
resolution.

In answer to a question,
The CHAIRMAN stated that it was impossible to fix
the periods when the future calls would be made, nor
could they exactly close their capital account while they
had extensive works going on in Liverpool, Manchester,
and London, but he could assure the proprietors that so
far as the main line and working stock were concerned,
the capital account had been closed. No negotiation
was going on for leasing the North Staffordshire line.
The adoption of the report was then agreed to, after
which the dividend was declared payable on the 26th
instant.

Resolutions in accordance with the report were then
proposed, and having been duly seconded, they were
put, and the vote carried unanimously.
A vote of thanks was then passed to the Chairman
and directors, and the meeting, which was very fully
attended, broke up.

SHREWSBURY AND BIRMING-

HAM RAILWAY.
The usual half-yearly general meeting of the pro-
prietors of the above railway was held yesterday, at the
London Tavern; Mr. Ormsby Gore, M.P., in the chair.
The report stated that the directors had been enabled,
by the means which the proprietors had placed at their
disposal, to press forward the works with every possible
dispatch, relays of workmen being employed in those
parts which were of a heavy description, and would
otherwise retard the opening of the line. The
stations were also in a state of forwardness. The
one' at Shrewsbury was so far completed as to be
used by the Shrewsbury and Chester Company; and
the contracts for that at Wolverhampton and the in-
termediate stations would be let in a few weeks. The
lease of the Stour Valley Company to the London and
North-Western Company, at a perpetual rental of two-
thirds of the dividend of that company for the time
being, having been formally confirmed by the share-
holders, it was proposed to separate the portion of
the class A shares, which formed the con-

tribution of this company to the Stour Valley
Company (equal to 31. 13s. per share) into a
distaict stock, to be called " London and North-Western
Guarantee( d Stock;" and, thereafter, to reduce the class
A shares to the same nominal amount as class B, making
both classes as to dividend, and in all other respects,
equal; the sum exclusively applicable to class A shares
was 190,087/. 10s. On this sum th• rental of two-thirds
of the London and North-Western dividend, for the time
being, would be payable after Ist July, 1850; the pro-
prietors in the meantime receiving 4 per cent. interest.
The directors saw no reaso❑ to alter their opinion of
the probable cost of the main line (including the
stations and working stock for the same), which
they had estimated at 1,000,000/., or about 33,0001.
per mile; and which capital, after the passing of the Bill
now before Parliament, would be represented by 104,000
shares of 91. 12s. 3d. The main object of the Bill which
would be submitted for approval to a special meeting,
was to substitute a shorter and cheaper line to Madeley
and the Coalbrookdale district, in lieu of the line men-
tioned in the last report, as staked out from Shiffnal.
The saving thereby would be about 20,000/., besides
superseding altogether the necessity of an additional
branch from Madeley, in the direction of Wellington.
Power was also taken to shorten the Low Level Fork
line, from 2i miles to 5 furlongs. A clause was inserted
to confirm the creation of the preference shares, and to give
the fullest legal effect to the dividend guaranteed thereon.
The balance-sheet represented that the total receipts,
up to the present time, amounted to 792,7221. 17s, Gel.,
and the expenditure to 767,8191. ss. Id., leaving
24,903/. 12s. sd. in hand. The total increase of calls
amounted to 26,9451.

The CHAIRMAN, in moving the adoption of the report,
congratulated the proprietors upon the prosperous state
of the concern. The line, it was expected, would be
opened throughout in August, and there was no doubt
whatever that the traffic of the district through which it
passed would prove highly remunerative.
The resolution for the adoption of the report having
been seconded, was put to the vote, and carried
unanimously.
The shareholders then resolved themselves into a
special meeting, and passed resolutions in conformity
with the recommendations of the report.
In answer to a question,
The CHAIRMAN declared his conviction that the
Shrewsbury and Hereford line would eventually make
and prove a highly profitable undertaking.
Thanks were then voted to the Chairman and directors,
and the meeting tefm/nated.

LAW INTELLIGENCE.
COURT OF QUEEYS BENCH, Feb. 16.
(Continued from our Afternoon Edition of yesterday.)
TIIE QUEEN V. KENDALL AND OTHERS.
The jury found a verdict of Guilty against all the
defendants.

SECONDARIES' COURT, Feb. 16.
(Before Mr. Secondary POTTER.)

WOOLF 71. THE CITIZEN STEAM-BOAT COMPANY.
This was an action to recover damages for an injury
suffered by plaintiff in consequence of the negligence
and misconduct of defendants' servants. The defendants
suffered judgment to go by default, and the damages
were laid at 1001.

Mr Cobbett, Q.C., and Mr. Hawkins appeared for the
plaintiff, and Mr. Sergeant Jones for the company.
Mr. COBBETT stated the case. The plaintiff went on
board one of the Citizen Steam-boat Company's
vessels on the 4th of July, 1847, when, in conse-
quence of proper care not being observed on board
the steam-vessel, the rope by which. it was moored
to the pier got twisted round the plaintiff's ankle,
and as the vessel was cast off, the friction was so
great that the plaintiff's boot was ripped off with great
violence. The pain was so great, that plaintiff cried out
that his leg was off, and ho fainted. He was subsequently
laid up for about eight weeks. The Learned Counsel
said that there was no doubt of the facts, as defendants
had admitted their liability. The only question, there-
fore, for the jury was the amount of compensation the
plaintiff was entitled to.
A great number of witnesses were called to make
out the plaintiff's case, and that he made from 51. to 121.
per week by attending at sales, but he did not pay in-
come-tax.—(Laughter.)
Mr. Sergeant JONES addressed the jury, but did not
call any witnesses, and the jury gave a verdict for 381.

ASSIZE INTELLIGENCE.

NORTHERN ClRCUlT.—Lancaster, Feb. 14.

Yesterday being the commission-day, Mr. Baron
Aldersen and Mr. Justice Coleridge arrived by the mail
train, and proceeded to the Castle to open the com-
mission.

This morning their Lordships attended Divine ser-
vice, and immediately afterwards proceeded to the courts.
The criminal calendar is very small, and the offences
are of a very light character, six prisoners only being
charged with larceny, one throwing corrosive fluid, nine
with night poaching, two bigamy, three coining, two
forgery, one damaging warp, one manslaughter, one false
pretence. The civil list is likewise very light.
CROWN COURT.—(Before Mr. Baron ALDERSON.)
John Dagger was charged with having, on the 15th
of September, at Singleton, thrown a certain corrosive
fluid on the person of Anno Clarke, with intent to do
her grievous bodily harm.
Mr. Blair appeared for the prosecution; Mr. Gardner
defended the prisoner.
The prosecutrix, Anne Clarke, stated that she was 16
years of age, and servant to Mr. Archer, of Singleton ;
that the prisoner had courted her for two years previous
to July last, when she forbade him to come to see her ;
that on the night of the 15th of September she went
with Margaret Foster and Margaret Hull to Mr. Woods,
the clergyman at Singleton, and that as they were re-
turning home, and were on a footpath which runs
through a plantation, the prisoner rushed out, and pulled
her into the wood, threw her down, and committed an
indecent assault upon her, and said, "I'll tackle you for
this." She felt something sharp, like burning, and the
prisoner then let her go. She screamed out, and shortly
after fainted from pain. Tho two women assisted her
home, and a surgeon was sent for.
Robert Harrison Bowness, a surgeon, at Poulton, said
that on the 15th September he was called in to attend
Anne Clarke, and found large inflammatory spots o. that
et
the
inside of the thighs, and the lower part of the body;
she was seriously injured, and was between two and threeh
s
months under his care, and that the injury ryas done by
aqua fortis.
Mr. Gardner addressed the jury for the defence.

Verdict—Guilty..
His Loarisnir, in sentencing the prisonear,ndeonrladregreedd
upon the cruelty and brutality of the offence,
him to be transported for 11 teen years.
NIGHT POACHING.-- William Hutchinson and John
Gillow were charged with having, at"the townshipeot entered
Turnstall, on the 18th January last, unlawfully
certain enclosed land by night, together with others,
armed, with intent to take and destroy game.
Mr. Overend appeared for the prosecution, and Mr.
Cobbett for the prisoner.
Mr. CORBETT addressed the jury for the defence.
His LORDSHIP, in summing up, said that the verdicte' of
the jcry must depend on the question of whether the
evidence was sufficient to convince them that the pri-
soners were in pursuit of game in the plantation referred
to by the indictment.
The jury, after a very short deliberation, found the
prisoners Not Guilty.

Lancaster, Feb. 15.
CROWN COURT.—(Before Mr. BARON ALDERSON.)
William Bracewell was indicted for having, at Culne,
on the 9th of September last, uttered a forged bill of
exchange for the sum of 451. 108.
Mr. Whigham prosecuted ; Mr. Joseph Pollock de-
fended the prisoner, and urged that James Watson and
Go9t b§d been ;nixed up in bill truitictipo together,

• .7t7 I,
4 '
• 71/4,
44Tt,
iN4 411 ). -.1 4, r
01 ,
- -
XIV • , A , \
^fi 7 At "C,1,41' 4rj
Cit; n \k