The Sun.
London, England, 1849-08-30 00:00:00

MANCHESTER AND SOUTHPORT.

The half-yearly meeting of the Manchester and
Southport Railway Company was held yesterday
(Tuesday) morning, at the Palatine Hotel, Hunt's
Bank ; Mr. William Marshall, of Penwortham, one
of the directors, in the chair.
Among the shareholders present were Messrs. R.
A. Thicknesse, M.P. ' • S. D. Darbishire, law clerk,
John Smith, Thomas Part, and Joseph Harwood.
After Mr. Jour.; S. HERON, secretary, had read
the notice convening the meeting, the seal of the
company was affixed to the register of proprietors.
The secretary then read the following report of the
directors :

"At the last half-yearly meeting it was stated that
three miles of the railway at Wigan, connecting the
eastern and western portions of the Liverpool and
Bury Railway, had been opened for passenger traffic ;
since that time there has been a further outlay of
33,8881. 7s. 4d. in completing this portion of the line,
and connecting it with the North Union Railway, and
in constructing the bridge under the East Lancashire
Railway, near Ormskirk. The directors have not
commenced any new work on the line. Under the
provisions of the deed constituting the company, and
of the Act of Parliament, the shareholders are entitled
to dividends in respect of the productive capital, at
the rate of 2 per cent. for the first year and 1 per
cent. for the second year less than the dividends paid
on the Lancashire and Yorkshire stock for the corre-
sponding periods. Your directors have entered into
arrangements with the Lancashire and Yorkshire Co-
mpany for the working by them of the Manchester and
Southport line, until the amalgamation is completed,
subject to the payment of the dividend thus accruing
to the shareholders. As announced in the directors
last report, the amount of capital entitled to dividends
fur the half-year ending the 30th June last is Cl. per
share. The exact rate of dividend will depend upon
the dividends to be declared at the half-yearly meeting
of the Lancashire and Yorkshire Railway Company,
on the sth of September next. The following mem-
bers of the board, viz , Messrs. Henry Houldsworth,
George Wilson, and William Marshall, retire by ro-
tation, and are recommended for re-election.

" From the statement of accounts it appeared that
the amount received on calls had been 264,4191. 155.;
amount in arrears of calls, 36,030/. Expended on the
completed portion of the line up to Dec. 31, 1848,
125,0141 ls. 11d. ; to June 30, 1849, 33,0391. 7s. sd.
—total, 158,0531. 9i. 4d. Expended on the portion
of the line not yet commenced, to December, 1848,
66,340/. 11s. 9d.; to June; 1849, 8481. 19s. 11d.—
total, 67,1891. lls. Bd. Total expenditure to Dec.,
1648, 191,354/. 133. Bd.; to June 30, 1849, 33,888/.
7s. 4d.—grand total, 225,2431. Is. Balance to the
credit of the company, 39,176/. 145."
The report was unanimously received and adopted.
A resolution was agreed to declaring a dividend of
61. per share for the half-year ending on the 30th
June last, at the rate of 2 per cent. per annum less
than the dividend to be declared on the Lancashire
and Yorkshire Railway Company's stock at the ap-
proaching half-yearly meeting of that company.
The meeting shortly afterwards adjourned.—Man-
cheater Paper.

MANCHESTER, SHEFFIELD, AND LINCOLNSHIRE.
MANCHESTER, WEDNE
SDAY.—EIie sixth half-
yearly meeting of this company was held here to-day;
the Earl of Yarborough inthe chair. The report of
the directors stated taatdth e revenue on the original
h
portion of the railway
charge
improved, at the
same time that the rate osfo
sou:
coraerond
;extent
but working
penses had been considerablya
any
yngr eye dtthese
thate x -
encouraging features were haidl
the
epbression
would justify the directors in
of congratulation; and they regret thattg
of profit and loss, after paying interest on loans and a
preference stock, would not yield any surplus out of
which to pay a dividend on the ordinary shares.
Those parts of the railway which had been opened for
traffic eastward of Gainsborough had been as produc-
tive as could be expected, the balance of profit, after
paying working expenses and repairs of steam-boats
for the ferry, being 9,1384 3s. 2d. But until the
dock and other works at Grimsby should be in a state
to receive and accommodate a large amount of
shipping, there could be no full development of the
tr -upon the railway, nor could any data be fur-
-1-4813410 justify an accurate calculation of its ulti-
mate pecuniary results.
The CHAIRMAN, in moving the adoption of the re-
port, expressed the confidence of the board of direc- l

tors and himself in the soundness of the undertaking,
and stated that the receipts for the half-year of 1848
on the western section of the line was 56,9391.
Is. 11d., and the expenses 37,1821. 13s. 9d., whilst
for the half-year ending June, 1849, the receipts
were 64,7291. Is. ld., and the working expenses
31,0551. 10s.
After considerable discussion,
Mr. MORETON asked whether the directors con-
curred in the statement made by the committee of
investigation, that 6,250,000/. would be sufficient
to complete the works, including the Great Grimsby
Docks ?
The CHAIRMAN said the directors had every reason
to believe that the amount would be sufficient.
The report was subsequently adopted, with but one
dissentient.
The CHAIRMAN then moved the re-appointment of
the directors, which was seconded by Mr. CHAPMAN.
Mr. BRADSHAW proposed, as an amendment, that
the meeting adjourn for a month, and that in the
meantime a list of shareholders eligible for directors
be laid before the shareholders, from which they
might be enabled to select additions to the board.
Mr. BOOTH, of Rotherham, seconded the amendment.
Thirteen hands only being held up for the amend-
ment, the retiring directors were re-elected.
The meeting terminated with a vote of thanks to
the chairman.

BOLTON, BLACKBURN, CLITHEROE, AND WEST

YORKSHIRE.
On Monday last the half-yearly meeting of this
company was held at their offices, Blackburn ; W.
H. Hornby, Esq., is the chair. There was a nume-
rous attendance of shareholders. The usual prelimi.
nary business having been disposed of,
The SECRETARY read a report. From the state-
ment of receipts and expenses for the half-year ending
the 30th of June, it appeared that the balance in
favour of the company was 21,2611. 13s. 3d.
Mr. BOYLE, of Blackburn, put several questions to
Mr. Flannagan, the engineer, respecting the gradients
and foundations of bridges, which were satisfactorily
answered by that gentleman.
Mr. WALMESLEY, of Preston, then made a long
address respecting the large amount of engineering
and general working expenses, and said the revenue
would not pay the interest on the mortgages.
This statement the CHAIRMAN firmly denied.
A discussion then took place respecting the salaries
of the three engineers, Messrs. Flannagan, 0 nage E,
and Withers, after which the report was carried
unanimously.
Two directors who retired by rotation were then
re-elected, after which a long conversation ensued, as
to whether it would be expedient to fill up t.hreeva-
cancies in the directorship (occasioned by resignation)
at that meeting, or only appoint one, and leave the
remainder to be filled by shareholders resident at
Clitheroe, when the branch to that town should be
opened, which will take place in the course of a few
months. Eventually it was decided that the latter
course should be adopted, and Mr. Christopher Par-
kinson, of Blackburn, was elected, without opposition,
a director.

Mr. TIPLADY then proposed that the services of
two of the engineers should be dispensed with ; but
as the meeting was evidently against such a course
being adopted, the notice was withdrawn.
Mr. Cottam, accountant, ofManchester, having been
appointed to investigate the accounts of the company,
1 the business of the meeting was concluded by the usual
compliment being paid to the chairman.
The CHAIRMAN, in returning thanks, expressed his
opinion that the line would, at some future day, be a
remunerative speculation, and would pay a better
dividend than many railways which were new in a
prosperous condition. He concluded by highly cen-
suring the alleged spirit of competition displayed by
the directors of the East Lancashire Railway, as it
injured the interests of both companies.
The meeting separated a little after four o'clock,
the proceedings having occupied about two hours.