The Sun.
London, England, 1846-08-11 00:00:00

RAILWAY Co 'I3IITTE ES.

(YESTERDAY)

HOUSE OF LORDS.

Room C.
OLIMELPI, Xr;rmizpoom, 71111.1\TCTIESTE1t,

AND DlP—n.ialVE at72*C11:10?.7.

Mr. Lowe, cross-examined IT Mr. :51sintivia;:onbehalf of the
Rochdale Canal Company —(.model of the Rochdale Canal Company
station at Manchester was produced, showing the course of the pro-
F,sed foe through this property, and the severance of the various
warelmuscs and other buddings belonging to the Co,npany)—The
proposed railway would take about 1,400 square yards of the land
belonging to the Company.

Re-ex•imiue3 by Mr. Sergeant WRANGHAM —The ground Ac-
tually covered by the proposed railway would be only that
upon which the piers of the arches would stand, and
would not exceed more than 304 yards. The. property
which the proposed railway would take was not in the occupation of
the Company its. If; one portion of it was rented by Mr. Jackson,
another by Mr. Clare: There would be no difficulty whatever in
crossing the exiting tunnel on the Manchester and Leeds Railway
by means of another tunnel. By the staudinz orders they could raise
their levels five feet, and even without doing so they could cross by
the present levels In such a manner as not only not to injure the
existing tunnel, but materially to benefit it, both by relieving it of
the present superabundant weight of earthwork, and also giving it a
much better ventilation by means of the open work upon which the
rails would be la d, and the shaft which would be sunk at the pro-
posed junction of the two tunnels, thereby creating an additional
current of air.

By the Earl of WicicLow—The proposed line was on an embank-
ment near the Hollingworth colliery. It did not commlmkate directly
whh it, hut a short siding could very easily be made to connect them
with the railway.

Air. Hawkins, agent to the Hollingworth colliery, was then called
by Mr. Sergeant WitaNGITANI—IIe said that two of the owners of
these collieries were directors of this railway, and that they would
be glad to form the con-eeting branch. The distance between the
pits end the line would be about ninety yards.
Cross-examined by Mr. LIILDTAID—The branch to connect the line
with the collieries would be upon an embankment, and might pro-
bably form a fork, one branch of which would be towards Man-
chester, and the other towards Oldham.
Mr. Bateman, C.E., of Manchester, was then examined—He had
gone .4ver the whole of the line, and thought that the estimates were
amply sufficient, and that the construction of the line would be a
great public convenience, and that it would prove a remunerative line.
Air. Chambers,. land valuer, gave evideLee as to the value of the
land and buildings required for the railway and the several stations
and depots on the line.

Mr. hake, land surveyor, proved the quantities of land valued by
the former witness.

Mr. shorland, land valuer to the Corporation of Manchester, had
valued the lan.l and buildings required for the line and its branches,
and his valuation agreed whit that of the first witness called upon
this point.

Mr. Thornton, railway contractor, corroborated the estimate for
the construction of the works on the line.

Mr. Loftus, secretary to the Company, gave evidence of the amount
of capital, the number of local shareholders, the amount of deposits,
and other things connected with the pecuniary affairs of the
Company.

The Committee then adjourned till eleven to-morrow.

GREAT NORT I-I OF ENGLAND
RAILWAY.

Yesterday, at twelve o'clock, the proprietors of the above
Company held their ordinary half-yearly general meeting
at the Offices of the Company, 24, Moorgate-street. H.
Borrowdale, Esq , in the chair.
After the Secretary, Major Grafton, had read the advertise-
ment convening the meeting, at the request of the Chairman,
he read the following report :

"The shareholde'is leave been called together on this oc-
' casion in compliance with the terms of the 17th clause of the
deed of settlement, which requires that an ordinary general
meeting of the shareholders shall be summoned once in
each half-year. The directors had hoped to be able
on this occasion to communicate some certain intelligence
respecting the decision of the Honourable East India Com-
pany, but up to this period no decision has been come to by
that body, at least none has been promulgated, and the di-
rectors can only await the receipt of information, and there.-
fore summon a general meeting. The only subjects remain-
ing to be laid before the meeting are—the complete regis-
tration of the Company, the deputation of a director to
India, the state of the allotment list, and the state of the ac-
counts. ihe directors have succeeded in effecting a com-
plete registration of the Company, according to the pro-
visions of the English Joint-stock Act. The certificate was
obtained on the •i9th of July last, and the Company is now
empowered fully to carry out in England the object for
which it was tbrmed, and one of the directors (Dr. B.
Burt), late of the Bengal Medical Service, was deputed by the
directors to Bengal, for the purpose of disposing in India of
the shares reserved for that country, organising a board of
management, obtaining a grant of the line, and otherwise pro-
moting the object of the Company. Dr. Burt, by the last
report, had succeeded in disposing of several thousand shares.
A draft of a short deed of accession had been sent out to
him, which would enable him to receive the signatures of
parties receiving scrip in India, and to transmit them to this
country for the purpose of being annexed to our deed.. Of
the 80,000 shares into which the capital of the Company
is divided, 25,000 were retained for India, and are
now in course of allotment there by Dr. Burt. Of
the remainder 50,700 have actually peen allotted to the
public in England, and there is only a reserve of 4,100 in
the event of the grant being obtained. Owing to the pressure
of business that devolved upon the board, consequent upon
the formation of a new company, and the employment of a
temporary secretary, they have been unable to bring the
accounts into such a shape as would admit of their being
audited, ready for that day's meeting, but they are happy
to be able to state that after all expenses have beefs paid,
including advances deputed to India, a very large propor-
tion of the sum realised for preliminary expenses will re-
main. The expenses of the management are upon the lowest
scale, and if a grant of the line should not be obtained,
the subscribers will have to receive back a fair proportion of
the sums obtained for preliminary expenses. As the decision
of the Hon. East India Company respecting the lines of
railway to be carried out in India may shortly be expected, ,
and upon that decision the ultimate carrying out of this
Company will entirely depend, the cirectors would suggest
that it is advisable to adjourn the present meeting for three
months, or till such time within that period when the decision
of the Hon. East India Company may have been made
known. The board have kept themselves in communication
with the secretary to the Hon. East India Company, and
have taken care to intimate their readiness to fulfil the great
object for which the Company has been formed.
"H. BORROWDALE, Chairman.
" AUGUSTUS GRAFTON, Secretary.
Extracts from the report of Mr. Sims, the engineer, on the
practicability of railways in India, were also read; but it was
requested by the Chairman that they should not appear in
the public papers, as the report itselt belonged to other per-
sons, and was entrusted to them in confidence.
Captain CLARKE wished to know whether the East India
Company bad reported?
The CHAIRMAN—No company has received any answer
yet. They are pledged to us not to prejudge the question.
Captain CLARKE—Have you any idea of amalgamating
with any other society?
The CHAIRMAN—That will depend on the fiat of the East
India Company.

Captain CLARKE—Have the directors consulted with the
East India Company on the propriety of amalgamating with
Larpent's Company ?
The CHAIRMAN—No; we consider our upper line excel-
lent, and their lower one altogether impracticable. But
everybody is ignorant of what tile East India Company in-
tend to do, and the proprietors may rest assured the direc-
tors will not refuse any advantageous alliance.
Mr. KENNEDY then explained the route of the intended
railway, and stated that from Alahabad to Delhi, 440 miles,
was a sandy course, and it was agreed on all hands that there
was no' finer ground in the world for making a line.
A PROPRIETOR wished to know who were the agents in
India?
The CHAIRMAN—Messrs. Carr, Tagore, and Co.
The SECRETARY then read a memorandum of the capital
of the Company, from which it appeared that the directors
had received 8 816/. 55., out of which they had expended
2,8631. Is. 5d., leaving about 5,3401. in huid.
The CHAIRMAN explained that they had sustained a. loss
by 15,435 *hares, allotted in England, not having been
taken up.
Captain BACK considered that the shareholders would act
wisely by tak!ng them up, and that the directors ought to
take steps at once for forfeiting and distributing them
amongst the present scripholders. lie would move a resolu-
tion to that effect. _ _

Mr. FRANKLIN seconded the proposition, which was carried
unanimously.
The report was then adopted unanimously. and after a vote
of thanks to the Chairman, the meeting adjourned.

BIDEFORD AND TAVISTOCK
RAILWAY.

An adjourned meeting of the shareholders of this Com-
pany took place yesterday, at No. 44, Finsbury-circus, for
the purpose of registering a sufficient quantity of shares to
decide whether the affairs of the Company should be wound
up, and whether such dissolution should be taken as an act
of bankruptcy on the part of the Company, or whether it
should be performed through the agency of the directors
Mr. Brown took the chair. •

The CHAIRMAN briefly explained the reason why the
shareholders had been summoned, and the polling commenced.
It may not be improper to observe that, although the
requisite number of shares have not as yet been regis•
tered, there has not been a dissentient to the
resolution that the Company should be dissolved, and
that such dissolution should not be estimated as an act of
bankruptcy. By the prospectus it was provided that the
number of shares should constst of 26,000, at 251. per share ;
20,000 of these have been allot.ted, and upon 18,600 shares
IL 7s. 6d. Ffr share has been paid. The Company intend re-
turning Ms. per share.

Stamford, and Birmingham,
RAILWAY H '',l4.E MARKETS.
MANCHESTER, AUGUST 8.
STOCK Excusasoe.-The sales are-Birmingham and Oxford June-
canhdurnSloretffianeldd
Bun, 5% p.- Blackburn, Clitheroo, 8r..c., 1g dis.-Boston, Newark
% die Newark,
Eastern Counties, York Extension, 1 N
p. -East Lancashire, 84 p. -East Lincolnshire, 55. 6d. dis.-Hod
,BNlytldreis,.;igss-t---""
derstield and Manchester Railway and Canal, Extension, i p;
Liverpool, Ormskirk, end Preston, 3 11-16 P.-Manchester, BuxtOn
and Matlock, 1% p.--ltianchester and Birmingham, Quarters (A),
10 p.-Ditto, ditto (B), 10 4 P.-North Eastern, 1 7-16 dis.-North
Staffordshire, 3% p.-oidham, Birkenhead, &c., % dis. -Preston
and Wyre. Halves (B), %P.-Sheffield and Lincolnshire Junction,
par -Sheffield and Manchester, Quarters, No 3, 7-16 p. -Shrews-
bury and Birmingham, 9-16 P.-Shrewsbury and Herefordshire, %
dis. - Shropshire Union Railway and Canal, 12-16-South Mid-
land, 11-16 p.-West Riding Union, "Isz.
-no P.-Whitehaven and Fur-
ness, 2% dis.
LEEDS, AUGUST 8.
STOCK EXCHANGE.-As was anticipated, the nature of the trans-
actions producing the aCvanced prices of last week partook
too much of a speculative spirit, and the result frequently
attendant on that feeling has speedily succeeded, prices having been
up for a few days, and then declined rapialy. There is now again a
somewhat better appearance in the markets, which are sterraier, but
without any symptoms of a general advance in prices. Most old
stocks are lower. notwithstanding the apparent satisfactory manner
in which ,he half-yearly meetings have passed off. :Midland stock
is very fiat; Eastern Coanties are . Iso dull, and the same may be
said of most lines where the meetings have been held. Some of the
ten per cent. lines have bad great difficulty in maintaining their
dividends. The Loudon and Birmingham has only declared ten per
cent., less tax, and the
chairman gave it as his opinion (but which
differed from his colleagues), that they might not be able to continue
so high a dividend. ThiA stock is now offered at 225. The West
Riding Union Company having proved the preamble of their Bill in
the House .4* Lords, that measure may now be considered safe ; they
close to-day with sellers at 5.4 a , showing a little decline on yester-
day's prices. East Lancashires and Ormskirks have been active
during the week, and an esters ve business has been passing in
them. Foreign shares are stationary. The sales are-Eastern
Counties, York Extension, 1% P--East Lancashire, 8;6 p.-Great
Grimsby and Sheffield, 1% dis.-Hudderstleld and Manchester, 2%
p.- Ditto, Extensions, 10s. P.-Leeds and Bradt', ml, 44% p.-Leeds
' and Dewsbury, 6 p.--Ditto, Branches, 2 p. -Leeds and Thirsk,
3% die. -Ditto, New, 32 dis.-Manchester and Leeds Extensions,
3 p.-Newcastle and Berwick, 13% p.---North Brain, Carlisle