The Sun.
London, England, 1850-02-08 00:00:00

RAILWAY INTELLIGENCE.

LONDON AND NORTH-WESTERN.---At a meeting
of shareholders in this compay, held at Manchester
on Tuesday, to consider the propriety of appointing
a committee to co-operate with shareholders in other
towns in obtaining a more efficient system of audit,
Mr. Bazley in the chair, resolutions were passed to the
effect that while a snore efficient system of auditing
railway accounts, with greater powers of control on
the part of the shareholders, was impera-
tively required, it was the opinion of the meeting that
a system of audit under the control of a Government
department would entail great practical evils and be a
violation of independent management ; that it was
necessary to prepare and introduce in the present ses-
sion of Parliament (as the measure of the shareholders
themselves, and without the interference of the direc-
tors), a Bill for the purpose, containing ample powers
and provisions, and appointing a committee, consist-
ing of Messrs. Hunter, Ashton, Hitchcock, Ross,
King, Rawson, Robinson, Hadfield, Garnet, and
Lyon, to confer with committees of shareholders
appointed at Birmingham, Liverpool, and other
places, and with them to take such steps as may be
desirable. It was stated that the proposed Bill con-
templated a better system of railway management,
as well as a better system of audit.
EXETER AND CREDITON•-It appears that arrange-
ments are being made for leasing this line to the
Bristol and Exeter Company for a term of seven
years, at a net rental equal to one-third of the gross
receipts. It is expected that the line will be opened
for the traffic early in April. About 30,0001. will
have to be raised fur the purpose of completing the
works.

NORTH STAFFORDSHIRE.—We have been requested
to state that the names of the Committee of Investi-
gation appointed on behalf of the shareholders are—
jor-General Briggs, London ; Mr. Challinor,
Leek ; Mr. Taunton, London; Mr. R. H. Haywood,
Brownhills, Burslem ; the three remaining members
of the committee are to be nominated by the directors.
We understand at the late general meeting of the
company the dissentient shareholders held the proxies
for 29,000 shares, to be used adversely to the direc-
tors in the event of any matter being pressed to a
division. The appointment of a committee of inquiry
was moved as an amendment to the directors' report,
as proposed by the chairman, and, after some altera-
tions in minor details at the suggestion of the direc-
tors, and not opposed by the dissentient shareholders,
was passed unanimously.
THE HIGH LEVEL-BRIDGE.--The High Level-
bridge over the Tyne is now completed both for pas-
sengers and railway purposes.
RAILWAY BILLS ON STANDING ORDERS.—Yester-
day the standing orders were declared to have been
complied with in the case of the Waterford and Kil-
kenny Railway, who propose to raise an additional
capital of 100,0001.; Chester and Holyhead Railway,
for lease to the London and North-Western, with
power to the latter to subscribe 525,3321. The Bills
of the Caledonian Railway for repeal of lease of
Glasgow, Barrhead, and Neilston and Glasgow
Southern Terminal Railways, and for Acts relating
to their amalgamation with other lines, were referred
to the Select Committee on Standing Orders, on the
ground of insufficient notice.

BRITISH ELECTRIC TELEGRAPH COMPANY.--
Yesterday the Bill of the promoters of this under-
taking was declared to have complied with the stand-
ing orders, the object being to incorporate a new
company, for the purpose of telegraphic communica-
tion upon a more economical scale throughout
the country, and for the purpose and use of patents.
It is proposed that the capital of the company shall
consist of 4,000 shares of 251. each, Si. per share to
be the greatest prescribed amount of call. The
number of directors is not to exceed twelve, nor to be
less than three. The company are to have power to
grant licences, and to make arrangements for faci-
litating telegraphic communication with other coun-
tries. The telegraph is to be open to the use of the
public " without favour or preference," at uniform
charges ; the scale of remuneration from Government
to be fixed by the Board of Trade.