The Sun.
London, England, 1849-09-08 00:00:00

MIDLAND.

DERBY, FRIDAY.—To—Today the usual half-yearly
company
yere was held in the
were a lmaregee goods'
tingof
consi-
derable number of shareholders present. At one o'clock
John Ellis, E-q., M.P., took his seat as chairman.
theshe
shed
above
at
the railway s
tat
jooon m.
The CHAIRMAN, in the course of his speech, stated
that in the half-year ending June 30, 1849, it appeared
there were 140,764 first class, 450,345 second class,
966,066 third class, and 329,648 fourth class; and in the
half-year ending June 30, 1849, there were 144,478 first
class, 470,422 second class, 965,283 third class, and
399,561 fourth class; exclusive of the Bristol and Bir-
mingham. From that statement it was clear the num-
ber of passengers for the six months alluded to in the
report had considerably increased; but the falling off in
the amount was, he supposed, occasioned by the decrease
of through traffic. The internal traffic was greater than
usual, partly owing, he believed, to the number of plea-
sure trips which had run on their lines. He had great
pleasure in announcing to them that an arrangement
had been entered into with the London and North-
Western Railway Company, which he was Bare would
prove advantageous to both. it was with respect to
traffic. They had ensured by the arrangement
traffic which otherwise they would not have
had, at the same time giving the two companies a
community of interest. Relative to the Aeibergate
Hee, they had made a satisfactory agreement. He next
alluded to the Leeds and Bradford lease.—(Hear, hear.)
With regard to it, he would only say he was prepared to
take a fair share of any responsibility in the matter. He
would not in the least shrink from it. Mr. Waddingham
was oae of the best and most valuable men they had at
their board.—(Hear, hear.) He would read to them
Mr. Waddingham's letter of resignation. It was, as
f ol lows

" TO THE CHAIRMAN OF THE HOARD OF DIRECTORS OP
THE MIDLAND RAILWAY COMPANY.
" My dear Sir,—As the board have expressed their
willingness to take their full share of the responsibility
of the Leeds and Bradford lease, and exonerate me in
their report from individual blame, I am content to set
the judgment of my colleagues against the gross impu-
tations of Mr. Wylie and others, who are comparatively
ignorant on the subject. At the same time I think it
my duty to bow to the strong, but mistaken, feeling or a
section of the shareholders on the subject of the lease,
and to tender my resignation, which, owing to a change
of residence, would have been long ago placed in your
hands but for the wish of the board that I should remain.
The fact that for several years I devoted the greater
part of my time to the affairs of the Leeds and Bradford
Railway without remuneration, surely justifies me in
having held a large interest in it, and the objection now
taken for the first time that I ought not to have been a
member of both boards., comes with a very bad grace
after a silence of three years.—l have the honour to be
your faithful servant, " JOHN WADDINGIXAM."
Since entering the room he bad received the letters of
resignation of Mr. Murgatroyd and Mr. Trees. With
respect to calls, exertions had been made to get them in,
but they had not been successful. Then, with regard to
auditting, whatever was done it should be accomplished
independent of Government. With reference to the
election of directors, he would recommend that they
should be divided into four committees; first, a traffic
committee, consisting of five; second, a locomotive com-
mittee, consisting of three; third, a station committee; and lastly, he would have an audit
committee. permanent way and

Mr. WYLIE observed that the high rate of the interest
guaranteed to the Leeds and Bradford lino was to be
regretted, as most unfortunate for the proprietors of the
Midland Company; but the circumstances attending
to this compan
that lease were still more to be regretted, as they ex-
hibited the personal interest of some of the directors of
the company at variance with their position and duties
prehension.
The other business was then gone through, when the,
y, which was most deserving of high re-
Meeting separated.

RAILWAy suA,RE InARKETS.
STOCK EXCRANGEBRISTOL, &OPT. 7.
The share market was rather firmer
to-day but little or no business doing. Bristol and Exeter,
New Shares, were doneat 10 dis., and Great Western, Fifths,
at 12%4 die.

LIVERPOOL SEPT. 7.
STOCK EXCRANGE.--The share' market opened rather
Armly this morning; the business done was to a larger ex-
tent than for some days past, and the highest quotations of
yesterday were current to-day for both stock and shares.
MANCHESTER, SEPT. 7.
STOCK EXCHANGE. —The transac: ions to-day were as
follow : Manchester and Leeds, Fifths, 5 5-16 dis.—North
Staffordshire, 7 1-16 dis.—Manchester and Birmingham (C),
Quarters, 2 5.16 p.
BIRMINGHAM, SEPT. 7.
STOCK EXCIIANOII.—The share market was steady to-day,
there being little or no variation in prices The sales are—
iltriaingham, Wolverbampt-m, and Dudley (calls duly paid),
434 p•—Shrewsbury and Birmingham (13), 51/i dis.
'SOCK EXCHANGE.
YORK, SEPT. 6.
The transactions to-day were as
ibllow:—Great Northern, 7t/2--Ditto, Preference, Si. 118.—
BP!tto (New Issue), Is.—York, Newcastle, and Berwick, 18—
Ditt9 (Cr' N 4 E. PU011110)3:4.