The Sun.
London, England, 1856-09-26 00:00:00

GLASGOW, DUMBARTON, AND HELENS-

BURGH.
The third ordinary meeting of this company was held
on Wednesday at Glasgow ; Mr. Colin Campbell, jun.,
in the chair.

The report was held as read. It requested the meeting
to confirm anarrangement made with the Forth and Clyde
Canal Company for an alteration of the original mode of
crossing their property. All the land settlements bad been
completed, though the sums paid were in excess of the
ParliamentFy valuation. The progress of the works was
reported by the engineer to be on the whole gratifying,
and it was under consideration to open that part of the
line between Dumbarton and Helensburgh next July.
From the large monthlypayments to the contractorsand
for land, the directors liad no alternative but to make
another call on the shareholders.
The CHAIRMAN, in moving the adoption of the report,
said he had only to explain that the arrangement with
the Forth and Clyde Canal Company was rendered ne-
cessary in order to raise the level of the line to that of
the Edinburgh and Glasgow line. The only other part
was in regard to the call. It was necessary to provide
funds, and previous to the making of the call they had
only 7,0001. at their credit. If any further explanation
were required he should be happy to give it.
Mr. W. BUCHANAN seconded the adoption of the re-
port, which was unanimously agreed to, and.the meeting
broke up.

NAMUR AND LIEGE, AND MOWS AND
MANAGE.
A special general meeting of this company was held
yesterday at the London Tavern, for the purpose of ra-
tifying the provisional convention for leasing the Mons
and Manage line to the Northern of France Railway
Company for the remainder of the term of the concession,
Captain Parry in the chair.
Mr. MOATES, the London agent of the company, read
the advertisement convening the meeting.
The CHAIRMAN said they would probably remember,
when last the directors had the pleasure of meeting them
that upon the subject of leasing the line being dis-
cussed he then informed the meeting that two proposi-
tions had been received for that purpose. He also men-
tioned that it was his opinion if one of the propositions
should be somewhat modified a successful and advanta-
geous negotiation might be the result. The directors
also suggested that a committee of shareholders should
be appointed to advise with them on the subject. Mr.
roppe and himself were requested to coneinue the nego-
tiations with the Northern of France Railway Company,
and he felt bound to allude to the straightforward and
liberal manner in which they were met by the directors
of that powerful company. The negotiations resulted in
a provisional agreement which was signed on the 29th of
Aug. last by Baron Rothschild, chairman of the com-
pany, the deputy chairman, and other directors on the
part of the Northern of France Company, and by Mr.
Blagden and himself on the part of the Mona and Ma.
nage Company, whereby the railway was definitively
leased for the remainder of the concession to the North-
ern of France Railway Company, subject to the ratifica-
tion of the same by the shareholders of both companies,
and it was for that purpose they were now called together.
The reasons that induced the board to recommend the
measure he would state. There could be no doubt that
the Mons and Manage Railway, for its length, might be
considered one of 'the best lines inißelgium. Taking into
account the cost of its works and plant, it was now pay-
ing a good dividend, and its prospects under the manage-
ment of the Northern of France Company were very
good, and the line would, he had no doubt, amply repay
that powerful company for the arrangement they had
entered into. He was at the same time bound to state
that he thought the bargain was equally advantageous to
the shareholders of the company. They must bear in
mind that their small line had to support an enormcui
capital expenditure, of which 200,0001. consisted of
Preferential capital, bearing 6 per cent. interest ; and
that it being a small company they were weak, sod con-
sequently unable to obtain those local advantages in a
foreign country which they had a right to expect. Their
expenses of management were as great as those of a
line double the length. They were also threatened by
new concessions which the Belgian Government ap-
peared disposed to grant. One already granted would
abstract a portion of their traffic. Tne outlay f a the
renewal of the permanent way would have to be borne.
The formation of companies to introduce British coal
into Belgium and France would also have an adverse
influence on their prospects. Taking all these matters
into consideration, he would ask them whether it would
have been wise of the board not to agree to the lease
of the line, or prudent of the shareholders not to
ratify it. Those reasons, he thought, amply justified
the board in the steps they had taken. As a large
shareholder be would give it his support, in which
opinion he was joined by his colleagues at the board,
as well as by the members of the committee of share-
holders. The principal points agreed upon in the con-
vention were as follows :-1. That the Northern of
France Company were to take possession of the Mons
and Manage line on the Ist of January, 1857. 2. That
a guaranteed annual payment of 301. per share per
annum on the 10,000 preference shares would be made,
being equivalent to the 6 per cent. they now received.
3 That a clear net and final dividend of 14f. per
share on the 26,595 ordinary shares of the company
could be paid, being equivalent to 21. 16s. per cent.
He should be happy to answer any questions on the
su:)ject.

Ictr.
HERA2A.TH wished to know whether the divi-
dends were to be paid in francs or English money, as
that might make some difference. He hoped that they
would be paid as early a possible after they were due.
The CHAIRMAN stated that the payments would be in
francs ; and that the payments by the Northern of
France, in respect of the Namur and Liege line, were
paid on the day they were due, and he had no doubt they
would do RO in respect of the Mons and Manage line.
He olncluJed by moving a formal resolution ratifying
the honvention and authorising the directors to carry
the same into effect.

Mr. BLAGDEN seconded the motion, which was carried
unanimously.

In reply io questions it was stated that the affairs of
the company would have to be wound up, as there were
certain liabilities in respect of contracts to be settled,
and there were eartain assets to be realised in the shape
of stores and surplus land which it was believed would
more than cover the liabilities. Some of the liabilities
that were to have been spread over five years would
have to be met in one year, owing to the altered circum-
stances of the Company. The rolling stock would be
handed over with the line to the Northern of France
Company.

After some observations from Mr. J. Field, Mr. S.
Herapath, and Mr. Harrison, a cordial vote of thanks
was passed unanimously to the committee of v.bare-
holders for their services to the company.
Mr. S. HERAPATH wished to know when it was pro-
bable that the shareholders of the Northern of France
Railway would ratify the convention.
The CHAIRMAN believed a meeting of the Northern of
France Company would be held in December next,
when the question would be submitted for the approval
of the shareholders.

The proceedings then terminated with a cordial vote of
thanks to Captain Parry, Mr. Poppe, and the other di-
rectors of the company for their valuable services.

GREAT WESTERN OF CANADA.

It appears that the general meeting of shareholders in
this company, held at Hamilton, Canada West, on the
11th inst., duly eleeted the directors named by the
Enzlish shareholders, and passed a resolution declaring
a dividend of 4 per cent. fur the half year on the ordi-
nary shares of the company.