The Sun.
London, England, 1858-01-30 00:00:00

NORTH STAFFORDSHIRE.

The halt-yearly meeting of this company was held
yesterday at the London Tavern, Mr. J. L. Ricardo,
M.P., in the chair.
The report, an abstract of which has appeared in
the Sun, was taken as read.

The CHAIRMAN, in reply to questions stated that
the item of 8,000 in the accounts was the amount
of the Manchester traffic, to which they were en-
titled under an agreement with the London and
North-Western Company. That sum was regularly
paid to the North Staffordshire Company some time
after holding the ordinary meeting. There was
no dispute between them with regard to that item.
He was anxious to give the shareholderf every in-
formation in his power, but the report was so full
that it left him but little to add to it.
From an official return it appeared that the quan-
tity of earthenware and porcelain exported from
the united kingdom had fallen off, and this had
caused a stagnation of trade in the potteries through
which their line passed. This was a matter of
some consequence to them, as their traffic was
chiefly of a local character. Out of 75,0001. re-
ceived for goods on their line only 4,0001. consisted
of through traffic, and out of 52,0001. received for
passengers only 2,3001. was for through passenger
traffic. It was, therefore, almost entirely a local
traffic. This showed that they were tied up at
beth ends of the line, and that they had not their
share of through traffic. It was satisfactory, how-
ever, notwithstanding these impediment, that they
were enabled to declare a dividend at the r,-te of 4
per cent, per annum. Some supposed that by re-
strictive measures they would be starved out and
obliged to submit to almost any terms. They
could wait, however, and he hoped that state of
exclusion for their traffic was near a termination.
Considering the progressive nature of their local
traffic he looked forward to its producing much
more than 4 per cent. Dependir', upon local
traffic only had its disadvantages ; they felt the
effects of the late crisis in, their district, and the con-
sequent stagnation of trade. Tho iron trade in the
district had been almost stopped, and the effects of
the depression would be felt during two or three
months of the present year. lie then adverted to
some negotiations that were being carried on with
neighbouring companies, but, acting in the interest
of the company, he could not go into the details of
the negotiations, some of them being of a difficult
nature. Under the circumstances, if they had confi-
dence in the board, he had no doubt they would deem
it wise to refrain from pressing him for explanations
in respect of the negotiations. They might depend
upon it that the directors would neglect no
precaution, and do all in their power to promote
the interests of the company. They had two roads
to London open to them, and he could not but
think that their property must become much more
valuable then it was at present. Having said so
much, he did not wish to say any more, and had
great pleasure in moving the adoption of the report
A discussion ensued as to the law proceedings of
the company and its claims upon the London and
North-Western Company, in which Mr. Rennick,
Mr. Salomons, Mr. Smith, and other shareholders
took part.
The CHAIRMAN explained that no blame what-
ever attached to their legal staff, the whole of their
difficuLies had arisen from not having been earlier ,
acquainted with the state of railway morality in
this country ; they had gained by experience, and
he hoped it would be useful to them. The only
agreement that had not been repudiated bad
been drawn up by Mr. Burchell, their solicitor.
The others had been entered into by himself and
the directors with Mr. Glyn and the London
and North-Western board. He was quite ready
to bear the responsibility he had undertaken,
and the other members of the board were also ready
to take their share of it. Their claim for 56,0001.
had been urged, and accounts were ordered to be
taken. It seemed to him extraordinary that the
Lord Chief Justice should have decided against
them pro forma to go to the court of appeal, as
being better in that form than any other. He had
every confidence that their solicitor would do his
duty to the company.
After some observations on items in the accounts
the report was unanimously adopted, and a divi-
dend at the rate of 4 per cent. per annum for the
half-year was declared, payable on the 20th of
February.
On the motion of Mr. G. SMITH, a resolution
was passed, expressing an opinion that the future
meetings of the company should be held alternately
in London and at Stoke-upon-Trent.

A vote of thanks to the chairman and directors
concluded the proceedings.

EAST KENT.

The opening of the first section of this railway
from Chatham to Faversham was celebrated by a
grand public banquet given at the latter town last
night by the mayor and corporation of the borough,
at which the Lord Mayor of London, Lord Sondes,
the directors of the East Kent Railway, together
with the principal gentry of the town and neigh-
bourhood were present. The day was observed
as a general holiday by the inhabitants of the town,
which presented a very gay appearance. The ban-
quet took place in the large public room of the
borough, where covers were laid for 150 guests.
The chair was occupied by Mr. R. J. Hilton, mayor.
Various toasts were given and responded to, and the
proceedings terminated in a satisfactory manner.

RAILWAY AND OTHER BILLS ON STAND-
ING ORDERS.

Yesterday the following bills were disposed of
before the examiners on standing orders :
BORDER COUNTIES RAILWAY.—For an extension
from Billing to Riccarton Burn Head, power to
raise 106,0001., increase of directors, power to other
companies to subscribe and make working arrange-
ments ; standing orders complied with.
EDEN VALLEY RAILWAY. —To make a line from
the Lancaster and Carlisle, near Clifton, to the
South Durham and Lancashire Union, near Kirkby
Stephen, and to form juctions with those railways ;
proposed capital 135,0001. ; standing orders com-
plied with.
WHITEHA.VEN JUNCTION RAILWAY.—For new
branches, shipping and other works, at a cost of
65,000/.
CARRON RAILWAY.—For construction of line from
the Stirlingshire Midland Railwarksy, where it crosses
Forth and Cl) de, to Carron wo, and construc-
tion of canal ; standing orders complied with.
SOUTH EASTERN RAILWAY.—For construction of
at
Portß o ekcl
CarlisleiF
new line from Dartford to New-cross Junction, 1
Chiselhuret, &c., in connection with the North
Kent line, and further powers as to steam vessels ;
proposed capital, 344,0001. ; standing orders cote-
plied
plied with.
Railwaya
tad tl le
BANBRIDGE, LISBURN, AND BELFAST JUNCTION.
—For construction of line; standing orders com-
plied with.
NORTH BRITISH RAILWAY (Hawick and Carlisle
Junction).—For a new line from the Hawick
o,
and Glasgow and South-Western Railways,
with
hnch
at a
cost of 100,0001. ; standing orders
not complied
with. branchesto the Caledonianto
STOCKPORT, DISLEY, AND WHALEYBRIDGE RAIL-
WAY.—For line to ayfield, and
scribe and work by London and North-Western ;
power. to sub-
proposed capital, 35,0001. ; st
complied with. ng orders not

MERSEY DOCKS AND HARBOUR.—For now works
and alterations at Birkenhead, at a cost of 130,0001. ;
standing orders complied with.
The other bilk paned were—Whitehaven Her-

26%
118
198%
94
6%
20

183%
283
203%
465
25
90
286%

5%
183%
289 N

173%
9%

32%
29
48%

301%
171
108

12%
682