The Sun.
London, England, 1846-04-24 00:00:00

IE7 Ny APRIL 24, 1846.

MANCHESTER, HUDDERSFIELD,
AND GREAT GRIMSBY RAILWAY.
A meeting of this company was held at Doncaster, on the
22d April, the Mayor of Doncaster in the chair.
The original estimate was one million, in 201. shares, but
only 24,520 shares were taken up. Several branches were
then lopped off, and the estimate reduced to 702,000/. in
35,000 shares, but those taken up only produced 51,4921., and
more than this was required for the standing orders.
current borrowed
expenses,
x p money
ense s, to
and exhibited
ibiutped
The directors, nothing daunted by the signs of the times,
a
or the 10,480 shares not taken up, leaving a deficiency of
capital of 209,600/., persisted in going to Parliament, and
ttloi esta
Parliamentnding oar dseur sb
subscription-
deed, pdt
ipoany.
deed, purporting that the entire cost of the undertaking was
provided for.
The report stated that the following expenses were in-
curred, viz. :
Mr. Billington, surveyor and engineer
Law Expenses.
Mr. Floyd, solicitor ... £1,900
Mr. Capes, local agent
..... 932
Mr. Owston, ditto
Mr. Sheardown, ditto B5O
Mr. Mence, ditto
Mr. Dransfield, ditto
Parliamentary Agent
150 Mr. Floyd's Town Agent

Printing, advertising, &c.
Trafiic•taker
Mr. Dixon, surveyor
Miscellaneous expenses (supposed)

6,712
1,100
507
113
5,868

21,000
or 17s. 2d. per share, and the Bill only passed the standing
orders!!

In order to meet the increased cost of making the line, the
engineer proposed to lay down a single line only from Don-
caster to Brigg.
In answer to questions asked by W. W. Barra; Esq., of
Huddersfield, whether all those whose names were on the
subscription deed had paid their deposits? it was stated that
they had not, and that it was the every- day practice to ask
gentlemen who had confidence to give their names to a sub-
scription-deed without having taken up a single share!
Mr. HEAPS, of Huddersfield, in a very clever manner, ex-
plained the present position of the railway world.
Joi.; SUTCLIFFE, Esq, of Huddersfield, who had resigned
the chair three months ago, because the directors refused to
call a meeting of the shareholders, after commenting on
the golden harvest the professional men had reaped, moved,
" That the railway should be wound up under the provisions
of Sir R. Peel's Bill," which was seconded by the Rev. R.
WarrELocK.,of Saddlehurst, when there appeared--

For winding-up
Against it 1,070

Majority for winding-up ...... 10,425

N.B. Three of the executive committee and eighty of the
provisional, and great numbers of the shareholders, have not
paid their deposits.

RAILWAYS.

The return of the amounts paid on account of railway de-
pusits for Bills before the House of Commons during the pre-
sent ses,ion has just been published. The whole amount
paid to the Court of Chancery in England is 11,396,7831. 9s.
10d. For Scotland the amount is 2,323,3711. 10s. ; and for
Ireland about 900,0001.

A practice has arisen among certain dealers in railway
shares which is not only dishonest in itself, but is likely to
produce serious evil. When a person sells his share in a con-
stituted line, he executes a transfer deed to the purchaser,
who should acknowledge the transfer and get it registered in
the office of the company. By this means the purchaser's
name is substituted for that of the vendor, who, although he
may have executed the deed and received the purchase
money, is not exonerated from his liability till this last
formality is complied with.. Of late several instances have
occurred where the purchasers, though they have paid for
the shares, have neglected to register the transfers. By
this non-performance of their contract—for it is no
better—they secure an ability of completing the trans-
action whenever they think fit. If the shares rise in the
market, so that they can dispose of them in the market,
there is no doubt they will comply with every requisition;
but if anything turns up in the shape of a disagreeable lia-
bility, they can easily avoid it, as their names are not regis-
tered, and the vendor, whose name is still on the deed, will
have to bear the brunt. The vendors who are placed in this
predicament are uneasy enough, but there seems no method
of transferring the burden of liability to the proper shoulder,
but the very tedious and expensive one of a bill in Chancery.
Some hope that as the Legislature is about the work of re-
form in railway matters, this matter may come under consi-
deration, and that some more summary process of enforcing
the completion of railway transfers may be devised.
The letter urging the shareholders of the Dublin and Gal-
way Company to wind up their affairs has drawn forth some
remarks by "an original shareholder," printed also in a
pamphlet form. The charges made in the extract given by
us were to the effect that the line was wrongly named
" Dublin and Galway," as it only goes from Portarlington to
Galway, and that it was got up, not for the benefit of its
own proprietary, but for the use of the Great Southern and
Western Railway.
In answer to the first charge, the writer of the " remarks"
makes the following statement :
" What is meant by the statement that it is a line only
from Portarlington to Galway, it is difficult to imagine; for
if this were so, it would be a bad bargain indeed for the
western people to make; but it happens to be just the re-
verse of fact that the line stops short at Portarlington ; it
is, on the contrary, for all locomotive, and indeed for every
purpose, unbroken and continuous from Dublin to Galway ;
and as for Portarlington being a small town, why, grant it;
and that it is 45 miles from Dublin, and on the line of the
Great Southern and Western Company, grant also ; but so
much the better for the Galway Company, for 45 miles of the
line towards Galway will be open in October, and will not
cost them a shilling to construct."
On the other point he says—
" It is but necessary to say that the two companies were
formed at different periods, and for distinct objects—the one
to open the communication to the south, the other tc, the
west; and if the former obtain the traffic of the latter fur
40 miles towards Dublin, the latter have not contributed a
shilling for the formation of those 40 miles upon which the
traffic will run for that distance, and in addition the Galway
Company will participate in the advantages of a terminus in
Dublin, using it as much and as freely as their own Galway
terminus, without paying a guinea towards its erection, or
contributing a farthing to the purchaai of the expensive pro-
perty upon which it stands."

Having given the-answer of the opposite party to the at-
tack originally made, we must here decline all further notice
of the controversy.— Times.

RAILWAY SHARE MARKETS.

BRISTOL, APRIL 23.

STOCK Excassmx.—The sales are—Bristol and Exeter, New, 91%
-Caledonian, 51A—Midland, New, 30.
NEWCASTLE-UPON-TYNE, Aram 23.

STOCK EXCHANGE.—The sales are—Glasgow, Dumfries, and Car-

lisle, 16s. dis.—Lancashire and North Yorkshire, 19s. dis.—North
Yorkshire, 5 p.—Ditto, Halves (Hayrick), 2% p.—Northumberland
and Lancashire, 18s. Gd. disf—West Riding Union, p.

LIVERPOOL, APRIL 23,

STOCK EXCHANGE.—The slow progress making in the decision of
the great public questions continues to influence the Share Market ;
within these few days, however, rather more activity has been shown
than of late, and good stocks have improved. if trips begin to ap-
proximate in value to the sums expected to be returned on a wind-
up, and premiums are still maintained on the deposit of a few
favourite schemes. To-day there is a decided advance, and an un-
willingness to sell at the present prices. The sales are—Birkenhead,
Lancashire, and Cheshire Junction, % p.—Birkenhead and Holy-
head Junction, 265. dis.—Birmingham and Gloucester, Quarters, 314
—Cambridge and Oxford, % dis.—Chester and Birkenhead, 201.
Shares, par—Derby and Crewe, 235. 6d. p.—Eastern Counties, 22%
Ditto, Perpetual, No. 2, 61. 18s. 4d.—Ditto, York Extensions, 18s. 641.
p.—Edinburgh and Northern, 3 dis.—Glasgow and Dumfries, % dis.
--GrandJunction, 215 ex d. and n.—Ditto, Quarters, New, 2$ p. ex d.
—Grand Union, h dis.—Goole and Doncaster, 16s. dis.—Hudders-
deld and Sheffield, p.— Lancaster and Preston, 10% p.— Liver-
pool, and Bury, 6% p.—Ditto, New Shares, 1 p.—Liverpool and
Leeds Direct, 4s. dis.—Liverpool, Ormskirk, and Preston, % p.
London and Birmingham, 223—Ditto, Quarters, 26 p.—Ditto, Fifths,
22% p.—London and Manchester (Hem.), % dis.—London and York,
dis. —Manchester and Birmingham, Quarters (C), p.—Man-
chester and Leeds, Fifths, 8% p. —Ditto, Sixteenths, 94—Ditto, Ex-
tensions, 1% p.—Manchester, Midland, and Great Grimsby, h die.—
Midland Stock, 145—Ditto, 401. Shares, 11% p.—Ditto, Fifths, 1 p.—
North British, Carlisle, % p.—Northumberland and Lancaster, 175.
dis.—North Staffordshire, 2% p.—North Union (A), 208%—Ditto
(it), 14234 Preston and Wyre, Halves (A), 31A p.—Sheffield and
Manchester, Quarters, No. 2, % p.—Ditto, Quarters. No. 3, Is. dis.—
Shropshire Union and Canal, I dis.—South Eastern, No. 1 (at 15 dis.),
p. —Ditto, No. 2 (at 16 2-3 dig.), p. ex (I.—Ditto, No. 3, Conso-
lidated, 34 p.—Ditto, New Halves, 4s. dia.—West Riding Union, 11.
as. 9d. p.—Newry and Warrenpolut, p.—Ulster, 834—Dutch
Rhenish, 155. 9d. p.—Paris and Strasburg Constituted, % p. •
MANCHESTER, APRIL 23.

STOCK EXCHANGE.—The sales are—Birkenhead, Chester, Mold,
&c., 245. 3d. dis.—Birkenhead and Holyhead Junction, 265. dia.—
Birkenhead, Lancashire, and Cheshire Junction, 4 p.—Blackburn,
Chorley, and Liverpool, 27s.—Blackburn, Darwen, and Bolton, 4 dia.
—Chester and Manchester, Direct, 225. dis.—Derby and Crewe, 275.
6d. p.—Direct Northern, 1 dis.—Eastern Counties, 223( —Ditto,
York Extension, h p.—East Lancashire, N 0.2, % p.—Essex and
Suffolk, 16s. 3d. dis.—Glasgow and Dumfries, 16s. dis.—Goole, Don-
caster, Sheffield, &c., dis.—Huddersfield and Manchester Railway
and Canal, Extension, 1 dis.—Huddersfield and Sheffield Junction,
p.—Leeds, Dewsbury, and Manchester, 14 p.—Liverpool and
Bury, 6% p.—Liverpool and Leeds Direct, ss. dis.—Liverpool, Orms-
kirk, and Preston, 7s. p.—Liverpool, Preston, Manchester, and
Southport, dis. c.—London and Manchester (Remington's), 365.
dis.—Ditto (Rastrick's), 1 dis.—London and York, 15-16 dis. c.—
Manchester, Buxton, Matlock, and Midland, par—Manchester and
Birmingham, Quarters (A), B%—Ditto, 'ditto (B), p.—Ditto,
ditto (C), 74 p.—Manchester and Birmingham Continuation and
Welsh Junction, 18s. 3d.:dis.—Manchester and Southampton, % dis.
—Midland, Consolidated (400, 11% p.—Northumberland and Lan-
cashire, 16s. 6d. dis.—North Staffordshire, 40a. p. c.—Preston and
Wyre, Halves
.(B), % p.—Sheffield and Lincolnshire Junction,
dla.—Sheffleld and Manchester, Quarters (No. 3), par—Shrewsbury
and Birmingham, 13-16 dia. c.—Shropshire Union, Railway and
Canal, 18s. 9d. dis.—South Eastern and Dover, Consolidated (No. 3),
par—Ditto, Halves (No. 4), 6s. 3d.—West Riding Union, 28s. 9d. p.

LEEDS, APRIL 23. _
STOCK Excustroz.—The sales are—Eastern Counties, York Ex-
tension, 18s. p.—Manchester and Leeds, Extension, 1% p.—Man-
cheater and Birmingham, New Quarters (C), 71. Is. 3d. p.—Hudders-
field and Sheffield, 2% p.—Leeds and Bradford, 25% p.—Leeds and
Dewsbury, I % p.—Leeds and Thirsk, 5% dis.—Newcastle and Ber-
wick, p.—North British, 5 p.—Ditto, Quartes Shares, 2% p.—
Oxford, Worcester, and Wolverhampton, 5 dis.—Ambergate, Not-
tingham, and Boston, 275. dis.—Buckinghamshire (late Rugby), 18s.
6d. dis.—Leeds and York, 1% dis.— London and York, 1 dis.—London
and Manchester (Rem.), 345. dis.—Manchester, Buxton, Matlock,
and Midland, Is. dis.—Midland and Think Junction, I dis.—North-
umberland and Lancashire Junction, 17s. 6d. dis.—North Stafford-
shire, 2 p.—North Western, Bs. Ws. —Welsh Midlands, 255. dis.—
West Riding Union, 31. 2s. 6d.—Yorkshire and Glasgow Union, 30s. d.

HULL, APRIL 23.

STOCK Excnerroz.—The sales are—Blackburn, Darwen, and Bol-
ton, 2%—North British, Carlisle, 355. 3d.—Ambergate, Nottingham,
and Boston, 255. 6d.—Armagh, Coleraine, and Portrush, 125. 6d.—East
Lincolnshire, 14s.—Glasgow, Dumfries, and Carlisle, 335. 6d.—
Grimsby, Louth, and Horncastle, 235.—Hu1l and Barnsley Junction,
235. 9d. —Leicester and Tainworth, 20s.—London and York, 30s. 9d.
—London and Manchester (Rem.'s), 195. ad.—Northampton, Bedford,
and Cambridge, 245.—Nottingham and Mansfield, 26s.—North Staf-
fordshire, 41. U. 6d.—Rugby and Htintingdon, 23s.—South Midland,
dLs.—Yorkshire and Glasgow Union, 22s.—Leeds and Carlisle, 245.

SHEFFIELD, APRIL 23.
SToca EXCRANGE.—The sales are—Grimsby andSheflield, s—Ditto,
Extension, 1/. 3s. 6d.—Huddersfield and Sheffield, 101. 13s. 9d.—
Derby and Gainsborough, 13s..—Maachester and Lincoln Union and
Canal, I/. 3s. 6d.—Nottingham and Manslield, VA—Sheffield and
Lincolnshire, 19s. 6d.—Sheffield, Buxton, Leek, Potteries, and Crewe,
12s. 6d.—West Riding Union, 3/. ss.
YORK, Aram 23.
STOCK EXCHANGE.—The sales are—Grand Union (Nottingham
to Lynn), 9s. 6d.--Leicester and Bedford, 7s.—London and York,
04—Newcastle and Berwick, 18%—Newcastle and Darlington Ex-
tensions, B%—North British, .Carlisle Extension, 11. 148.—North
Kent and Direct Dover, 04—Welsh Midland, 11. U.—York and
North Midland, New (East and West Riding), 8.
• GLASGOW, APRIL 22.

STOCK EXCHANCiE.—Tbe sales are—Airdrie and Bathgate, 40s.
—Banffshire, 19s. 6d.—Caledonian, 10%—Caledonian Extension, 275.
GC—Caledonian and Dumbartonshire Junction, 275. 6d.—Caledo-
-111411 and Direct. NeFtliorn, 16s.7-East India 4 Railwa r, 91.

Edinburgh, Glasgow, and Dtimbarton, 19s. 6d.—Edinburgh and
Northern, 91s.—Edinburgh and Peebles, 25s.—Forth and Clyde
Junction, 325. 6d.—Glasgow General Terminus, 91.—Glasgow and
Belfast Union, 335. —Glasgow, Dumfries, and Carlisle, 3d5.
dd.--Glas-
gow, Kilmarnock, and Ardrossan, 27s.—Inverness and Elgin, 20s.—
Kilmarnock and Ayr Direct, 37s.—Lanark and Lothians, 41s.—Les-
mahagow, 41s.—London, Bristol, and South Wales, 21s.—Perth and
Inverness, 29s.—Scottish Central, 13%—Ditto, New, 4N—Scottish
Southern, 355. 6d.—Scottish Central and Caledonian Junction, 253.
W.—Stirling and Dunfermline, 325. 6d.