The Sun.
London, England, 1848-08-30 00:00:00

Branch, 154,000/.; Leeds Central station, 80,0001. ; or a
total share capital of 887,0001. The directors propose
to fix the amount of each new extension-share at 251.
These shares will of course be credited with the 3/. 105.
already paid up on the scrip. The directors will make
application to Parliament for power to pay a preferen-
tial dividend at the rate of 6 per cent. on the capital
called up on the extension shares when the original lines
are opened for traffic. The directors expect that the
line from Leeds to Thirsk will be opened throughout
before the next half-yearly meeting. The accounts to
the 30th of June showed that 1,346,5091. had been
received, and 1,323,531/. expended, leaving a balance of
92,978/.

The CHAIRMAN proposed the adoption of the report,
and made some observations on the principal points
mentioned therein.
Mr. J. GOTT seconded the motion.

In answer to a question from a SHAREHOLDER,
The CHAIRMAN said, that the amount of any call upon
the preferential shares for the purpose of the works for
which those shares were issued, would be very small
previous to the application to Parliament for power to
grant them a preferential dividend.
The motion for tbo adoption of the report, after some
further discussion, was carried.

Mr. APPLEBY proposed a resolution to the effect—
" That no calls be made on the preference shares
until Parliamentary sanction for giving a preferential
dividend of 6 per cent. had been obtained."
Mr. EARP, of Derby, seconded the resolution, which
was carried.

The CHAIRMAN proposed—
" That the subscribers fully approve of the proceed-
ings which have been taken by the directors with respect
to the Clarence Amalgamation Bill introduced by the
Clarence Company in this session of Parliament, which
was formed upon terms of purchase that had not been
sanctioned by the shareholders in this company, and
which was pressed forward without the consent and
contrary to the desires of this company and its directors;
and especially they approve of the act of the directors in
presenting a petition to the House of Lords against the
Bill, under the seal of this company, as necessary to
protect their interests."
_ _

- Mr. W. W. 131;;; seconded the resolution, which
after considerable discussion was carried.
The CHAIRMAN next proposed—
" That notwithstanding what has passed, and in order
that there may be no ground of complaint against this
company by any parties, the directors be required, if the
opportunity should be offered, again to enter into treaty
with the Clarenee Company for the purchase of their
property, provided that such treaty be placed upon a fair
and safe footing; and that it distinctly be understood
and agreed that any arrangement or agreement for the
purchase of that property requires the sanction and con-
firmation of a special meeting .of the Leeds and Thirsk
shareholders duly convened."
This was seconded by Mr. N. CASH, and agreed to.
The meeting then entered on the consideration of the
provisional agreement with the East and West York-
shire Company for the purchase of their line at 6 per
cent., under the power of an Act passed during the pre-
sent session. A protracted discussion took place, which
ended in a resolution being carried by a majority of
411 to 297 votes, for th© postponement of the question,
but in the meantime the directors of the Leeds and
Thirsk Company to have power to find working stock,
and work the railway as far as it is at present completed
upon terms to be agreed upon with the directors of the
East and West Yorkshire.