The Sun.
London, England, 1850-08-29 00:00:00

RAILWAY INTELLIGENCE.

MANCHESTER, SHEFFIELD, AND LINCOLN-
SHIRE.
The half-yearly meeting of the above company was
held in the Exchange Rooms, Manchester, at noon yes-
terday; the Earl of Yarborough in the chair.
The CHAIRMAN very briefly addressed the proprietors,
Alluding specially to the canals, which he said were 801
losing concerns, though be believed they were not the
sources of so much loss to the company as they would
have been had they been in the hands of competing
companies.—(Hear.) During the present half year th.
losses upon the canals appeared much greater than they
had done on previous halt year?, which was partly owing
to a severe frost, which taste l upwaris of a month. The
company had a considerable quantity of goods to deliver
on the line of the canals, and during the continuance of
the frost they had to incur a great expenditure for
cartage to places where the canal could not be navi-
gated, and where the railway did not reach. He be-
lieved that the accounts of the present half-)ear were
the worst that would ever have to be lad before the
shareholders.—(Cries of " Hear, hear.") Their (a-
reas( s • had hitherto been necessarily very heavy, but
now that the line was so far completed, a considerabl,
diminution of expenditure would take place; in fact, a
-ystem cf reduction had been Commenced by the
eme spria t
ibgi eor,atthe etheffencetxotfhawlfh-lycehawrloyunildnebteingfa. voAurtaabl.yupb!r-
-e
quent period of the meeting the cha'rman stated that
this reduction mai as follows;-2t cicrks, 231 8 7.5
weekly; 62 guards, pert,rs, Bte., whose services had
been dispensed with, 601. per week; and boat hire, 61. 10..
With reference to the canals, it was considered desirabl-
that the directors should impress upon Mr. Ricardo,
M.P., the propriety of having carried out the polio}
which he had some time ago stated be should recom-
mend. It was considered by some parties that the works
at Great Grimsby should be suspended for a period, and
upon that point the opinion of Mr. Stephenson, an inde-
pendent engineer, had been taken, and he had expressed
a decided conviction that it was for the interest of this
company that the works should be carried on.—(Bear,
bear.) The Humber Ferries business had been placed
in the bands of Mr. Carter, solicitor, of Birmingham,
who wrote to the different individuals connected with the
Humber Ferries purchase, and they had decided not to
refund any of the money which they had received, unless
so far as there had been a miscalculation of interest in
the secretary's office.—(Elea, bear, and Shame.);
The report having been taken as real,
The CHAIRMAN proposed that that, together with the
accounts, should be adopt( d.
Mr. TURNER, of Liverpool, seconded the motion.
Mr.l4loueßTNOEzen,
said he understood that at the last meet-
ing it was decided that every individual who had bsen
connected with that "job," should to dismissed from
the company's service. So far from that having been
done, one of them, the engineer, had ac'ually teen pro-
moted.—(Bear, hear.) He Kai glad to have he ird the
chairman deny that the accounts were cooked," for
rumours were abroad that some of the traffic receipts. as
they appeared in the report, were artificial. Mr. Mor-
ton complained of the mode in which the South Junction
line was worked by this company, as it only yielded
this year a dividend of about three-quarters per cent.;
and also of the position in which this company stood
n naturally
l bye
allied,
with respect to the Great Northern Company. No
two
found 4 6
oOfi3
nr peee sitrpev.
pemhereti
whereasch
London no theyu g h t
were
eh
ate moreclosely railwaysand
com-
plete enmity, this company doirg its utmost to obstruct
the traffic on the Great Northern line by a variety of
expedients which railway managers only could have re-
course to, instead of cultivating f, friendly relations, and
making every interchange cf traffic which they possibly
could. He also complained of the heavy working ex-
penses of the line, which amounted
.to no less than 65
traffic
per cent. of the receipts;
rh e i
whileoncnget ho ;ntao.
; no:f3on.l
in
to
dhtentehhf
andeeedt defended
rLandon
:ddirectors'
tNorte Eastern
hroh:oni,
caCanosduh
Brighton,rt Lan-
cashire s
andthey
Yorkshire,43 ; were
ando 1y 48
Western, 38 per cent. Under all the circumstances,
be
ro
.0
Cld
jir
An
Ro
SoteGECH foAr
the
report.
directors. From elaborate ca'culations which he had
made, founded upon sound data, he was convinced that
in 1854 the receipts would be at least 10,0002 per week,
which would yield a dividend of three per cent. upon
the original shares, and every additional 1,0001. per
week would yield an additional one per cent. up to six
per cent., which he had no doubt they would ultimately
arrive at.—(Cbeers.)
The CHAIRMAN stated the directors had made various
overtures to the directors of the Great Northern Com-
pany, but on all points they bad met with great difficul-
ties on the part of that company. He hoped, however,
Fowler bad
man done
to anthyetheinogmpan improper;y, and
that some satisfactory arrangements might shortly be
decided upon. With respect to the Humber Ferries
transaction, and the position of their engineer, he did
hnoethtand beeninkth a atMmr.uFst
usefulo"t
filled the office with advantage to the shareholders.
After a tedious and uninteresting discussion, the mo-
tion d
up
wasagpauitnfertolle it. the chair, and only four hands were
A dividend of 71 per cent. per annum upon the No. 1
Quarters was agreed to, payment to be deferred to a
subsequent period.
The resolutions of a routine character were pasted,
and the proceedings terminated, a vote of thanks having
been warmly accorded to the Notile Chairman.

YORK AND NORTH MIDLAND.
YORK, WEDNESDAY.--The half-yearly meeting of
this company was held this day at the De Grey Rooms,
in this city. The attendance of shareholders was very
small. H. S. Thompson, EA., of Moat-hall, chairman
of the board of directors, presided.
The report having been taken as read,
The CHAIRMAN, 111 moving the adoption of the report,
made soml general remarks. First,he observed, that on
the previous day the directors hod had the honour of
conveying her Majesty along their line from Normanton
to Castle Howard. The journey was effected safely and
at a very rapid rate, and her Slejesty expressed her en-
tire sattsfaction with the arrangements. The whole
distance from London to Castle Howard was aecom
plished in the short period of six hours. After giving
some explanations upon one or two items in the accounts,
he explained that the 40,000!. received from Mr. Hudson
had been carried to accLunt. He then referreidt,,nioaennn
stuh ap-
parentde increased amount of working expenses.
One
source arose from the greater repairs which had been
effected in the permanent way; another increase arose
from an augmentation of the wages of the ene
foremen, which the directors had submitted to,
application of the men, and after ample inquir.,
J as to
the rite of m °Qra
mtge. paid by neighbauring •
Pitauts.