The Sun.
London, England, 1850-08-20 00:00:00

RAIL WAY INTELLIGENCE.
ROYS TON AND lIITCHIN.
The helf•yearly meeting of this company was held
yesterday at the office, Moorgate street ; Mr. W.
Wilshere in the chair.
The report stated that it was not until the 10th of
May last that the directors had succeeded in obtaining
the certificate of the Railway -Commissioners to the
effect that cue-half of the capital of the company
had been called up and expended ; since which date
every effort had be en made to obtain the execution of
the lease by the Great Northern Company. A ne-
cessary preliminary to the execution of the lease was
conceived to be the examination of the accounts of
this company, but, owing to the engagements of the
accountant of the Great Northern Company, this ex-
amination has not yet taken place. With a view,
however, of obviating any further delay in the exe-
cution of the lease, the directors made arrangements
with the Great Northern Company that the lease
should be executed, leaving the accounts to be subse
quently examined ; and accordingly the document
has been prepared and settled by the solicitors of
both companies, has received the seal of this com-
pany, and will be exchanged for the duplicate bear-
ing the seal of the Great Northern Company so
soon as it is affixed, which the directors believe
will be at their next board meeting, to be held on
the 26th inst. The rent will commence from the Ist
of August inst., and will be payable helf-yearly, on
the lit of February and Ist of August in every year.
With regard to the Shepreth extension, the directors
have entered into a contract with Mr. Brassey for
the execution of the works at the low sum of 17,2171.,
being less than 3,5001. per mile, and it is anticipated
that the company will be in a position to apply for
the Railway Commissioners' certificate to enable the
company to lease that extension to the Great Northern
Company about the month of March next, and there
is no reason to doubt but that the execution of the
lease will follow close on the receipt of the certificate.
The accounts to the 16 h of July show that 165,531/.
had been received, and 154 8521. expended, leaving a
balance of 10,679/. The Shepreth extension account
showed that 17,5181. had been received, and 4,4921.
expended, leaving a balance of 13,026/.
The CHAIRMAN, on moving the adoption of the re-
port, said he was ready to hear any observations.
Mr. Alderman CARDEN said, he wished to know
whether the rent of 6 per cent. per annum to be paid
by the Great Northern Company was exclusive of
the expenses of management.
The Solicitor stated that the proprietors would have
to pay the expenses of management out of the rent.
It was necessary to have directors or trustees to
receive the rent and pay the dividends every half-
year, and also an office for the transfer of shares.
Mr. MASTERMAN said their expenses were at pre-
sent paid out of capital, and the question referred to
by Mr. Carden would not arise for twelve months.
He thought the expenses of the company when the
lease was completed would be very trifling.
The report was adopted, and the retiring directors,
Lord Deere, Mr. W. Wilshere, Mr. J. C. Cobbold,
M.P., Captain Laws, It.N., Mr. F. Parker, and Mr.
F. Pvm, were re-elected.
The meeting was then made special, and the for-
feiture of thirty shares was confirmed.
A vote of thanks to the chairman and directors con-
cluded the proceedings.