The Sun.
London, England, 1856-02-22 00:00:00

COURSE OF EXI

trn5ter514m............ 11 19

Ditto, three months .. 12 114
Rotterdam ............ 12 13.
Antwerp . •.. • 25 65
Brussels .. 25 65
Elamborgh .•••••• • • • 13 11
Alton •• .• .. • •
Paris • • 25 4754
Ditto, three months .. 25 9.)
arscillts 25 90
llourdeaux ............
Vrankfort-on Nlalne 12
vkenua..........•• 10 40
Trit5ate........••••.... 10 48
Petersburg ...... ••.• • • 3614
.........., 50
AVIIL ••••••••• • • • • • • • • 60!
It ircelona ..........

RAILWAY INTELLIGENCE.

Meetings This Day.

LONDON AND NORTH-WESTERN.

The ordinary half-yearly meeting of the shareholders
of this company was held this afternoon, at the Euston-
equare station ; the Marquis of Chandos in the chair.
The CHAIRMAN' said the accounts showed a favour
able state of the receipts over expenditure during
the past year. A diminution of expenditure had
also been effected, and a larger SUM than usual
had been set aside for maintaining the perma-
nent way. In future the reports of the directors
would he sent round to the shareholders with the

statement of the accounts. The chairman then entered
into the details mentioned iu the report, and said that
with reference to the circumstances of the company the
increased traffic erase from the good understanding that
existed between them and the Great Western. He had
hoped with that agreement there would have been an
end to dissensions between them and the other
companies. Several of the agreements into which
they bad entered into with other companies ex-
pired within the year, and it was hoped they
would have been renewed on the same terms.
With regard to the Great Northern, this cone-
',any had been unabes to come to a fresh arrangement
with it, and things, as they existed in 1351, had again
occurred, but he was sanguine an amiceMe arrangement
would soon be entered into between the two companies,
with the mediation of the North-Eastern, the North
British and the Caledonian, and Lancaster and Carlisle
Railways, which would put an end to the disputes which
at pre-ent existed. After alluding to the enactments
of Parliament which had made free trade in railways,
and which bad produced so much competition injurious
to railway croprietors without a corresponding benefit
to the public, he was inclined to believe that Par-

_ .
liament must see that free trade in railways could only
be done at the public expense, and he looked forward to
an early alteration of the present system of railway
legislation. He adverted to the arrangements that had
been made with tho Midland Company and the Great
Northern Railway, but which had now ceased ; and
explained the nature of the payments that had been
made to each of them, which, in the end, had been a
saving to this company, by giving them an increased
a nount of receipts on the passenger traffie' from their
not having to provide rolling stook with which to con•
vey their own passengers.
The SECRETARY then read the report, which showed
the net proceeds for the half-year to be 890,232/.
124. 11d., to which was to be added 6,9501. ls. 61., the
balance from the last year, making a total of 697.1821.
l le. sd. ; from this was to be deducted for further allow.
ance for renewal of rails 56,666/. 14s. 4d., leaving a die.
po?able balance of 640,5161. le. ld. for dividend. The
directors recommended a dividend of 51 per cent. per
annum for the last six months, leaving a balance of
45,5111. 1-le. ld. to be oarried over to the next half-
year. _ _ _

The Marquis of CHANDOS moved the reception and
adoption of the report. _

gr. BENSON (deputy-chairman) seconded the motion.
The Right Hon. J. PARKER urged on the meeting
the necessity of their making some general movement
for the improvement of their property, or their stock
would altogether disappear under the present mode of
management. He referred to a letter he had published
on the state of the eorapany's affairs, and also to the re•
poet of the late committee of investigation, impressing
on the meeting the necessity of their enforcing the carry-

ing out of the— sound and Useful reforms that that com-
mittee had recommended, _

HADFIELD, M.P., said he was confident if this
line had been properly managed the shareholders would
be reeeiving 7 per cent. interest. 200,0001. a-year
might be saved in the management of the company. He
ccndemued the directors borrowing money at enormous
interest, and said that if the money market had been
properly watched, from 75,0001. to 100,0001. a year
might have been saved in this department, and h• hoped
that when the money market became easy, and was re-
stored to its proper quiet state, advantage
would be taken of it by the directors, in order
to reduce the amount to be paid for interest.
He entered into the details of exper e relative
to the working of the line, in each of which a saving
might be effected. The law of poor rates as it affected
railway property was unjust, and during the past year
30,853/. poor rates had been unjustly paid.
Mr. .MeLniNs, who had give notice of a resolution, re-
lative to the dispute between this line and the
Great Northern and Midland Companies, said that, in
consequence of the Chairman's statement that there was
a probability of an amicable arrangement being come to
between them, he should not propose it to the meeting.
lie contended that, before this unseemly competition had
been entered on, this company should have consulted the
feelings of the shareholders. He hoped that when the
terms of peace came under consideration there would
be n• reservation on either side. He implored the
board to give the recommendation of the Committee of
Consultation their earnest and anxious consideration.
Ile thought the profit from passenger traffic was lost i❑
the goods traffic, Id. a mile per ton for goods being
much too small a rate.
PnIIiCHARD called attention to the capital ac-