The Sun.
London, England, 1859-12-26 00:00:00

RAILWAY INTELLIGENCE.

LONDON AND NORTH-WESTERN.
The adjourned special meeting of this company
was held on Saturday at the Euston station, for the
purpose of authorising the affixing of the companys
seal to the lease of the Lancashire and Carlisle Rail-
way, and also to an agreement between the London
and North-Western, Lancaster and Carlisle, and
Kendal and Windermere Companies, in relation to
the leases from the Kendal and Windermere to the
Lancaster and Carlisle Company, and to other ar-
rangements subsisting between the companies re-
spectively—Mr. R. Benson in the chair.
Mr. E. C. Stewart, the secretary, read the notice
convening the meeting.
The CHAIRMAN explained that the meeting was
of a formal character to authorise the seal of the
company to be affixed to the lease of the Lancaster
and Carlisle Railway, the terms of which had been
approved at meetings of the proprietors of both
companies held on the 10th of September last.
The only matter that remained was an arrangement
with the Kendal and Windermere Railway Com-
pany, which had an agreement with the Lancaster
and Carlisle Compt ny to take a certain proportion
of the net receipts for the use of its railway. The
proportion was 1-28th part, which was a very pro-
per agreement between the two companies ; but
when the Lancaster and Carlisle Company leased
their line to the London and North-Western Com-
pany the position of the Kendal and Windermere
was somewhat altered, and it therefore became ne-
cessary to make an arrangement with them so as to
compensate for the change. That had been done
by the London and North-Western Company under-
taking to pay the Kendal and Windermere Rail-
way Company £2,590 4s. half yearly. This was
about £4OO a year more than under the old arrange-
ment, and was about what it would be under the
new arrangement when the London and North-
Western paid their proprietors 5 per cent. per an-
num. By this arrangement they would save the
trouble and expense of keeping separate accounts,
which would be some equivalent for the increased
allowance. That was the only new matter since
the agreement had been sanctioned. The solicitor
would read any portion of the documents that might
be required.
Mr. SWIFT, the solicitor, then explained that the
term of the lease was altered from 1,000 to 90?
years. The debenture debt of the Lancaster and
Carlisle Company was fixed at £440,000, and the
capital at £2,420,000, neither of which could be in-
creased without the assent of the London and North'
Western Company. The terms were that when the
London and North-Western Company paid 41 per
cent. dividend the Lancaster and Carlisle would re-
ceive 81 per cent. ; when they pay 41 per cent. the
Lancaster and Carlisle would receive 9 per cent.;
when they paid 41 per cent. the Lancaster and Cam'
lisle would receive 91 per cent. ; when they paid
per cent. the Lancaster and Carlisle would receive
91 per cent. ; and when the paid 6 per cent. the
Lancaster and Carlisle would receive 101 per cent.
and so on for any greater or less fraction than
per cent. The London and North-Western Wow
have to pay interest on any increase of the capital
of the leased lines. There was a small increase
made in the allowance for the services of the officiablo
and £5O a-year would be paid in lieu of transfer
fees, in order to place the whole matter under the
control of the London and North-Western Cora'
pan.
After some observations from two proprietors re:
specting the terms which had been already decided
on at a former meeting.
The CHAIRMAN moved a formal resolution er
proving the lease of the Lancaster and Carlisle
Railway, dated December 22, 1859, and authorising
it to be sealed in duplicate.
The motion was seconded and carried.
On the motion of the CHAIRMAN the director'
were authorized to affix the company's seal to the
agreement between the North-Western Compaeil
the Lancaster and Carlisle, and the Kendal an",
Windermere Companies, relating to the leases °.;
the latter railway to the Lancaster and Carlisle and
other matters.

Another formal resolution was also passed unani-
mously, authorizink the directors to carry out the
preceding resolution, and to affix the cornpail9, •
seal to all such documents as might be necessary for
that purpose, to make arrangements with regar
to the allotment of any new stock that might here-
after be issued by the London and North-Western
Company, so as to enable the Lancaster and Car-
lisle Railwal Company to participate therein.
The meeting then separated.

DUBLIN KINGSTOWN.
On Friday an important extension of this rail'
way was opened to the new pier at Kingstown.
;The pier was erected by the Board of public Works
and the extension line, also, was made by them,
both were now rented to the companY. °Pe
trains run from Westland-row, Dublin, in con-
nexion with the steamers, to and from Holylieni
three times a-day--Tiz., at 8 30 a.m., 1 30 an':
7 p.m. These trains run direct to the pier withoutstopping.