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

RAILWAY INTELLIGENCE.

MANCHESTER, SHEFFIELD, AND LINCOLN-

SIIIIZL.

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 st-11
losing concerns, though be believed they were not the
sources of so mech loss to the company as they would.
have been had they been in the hands of competing
companies.—(Hear.) During the present half year the
losses upon the cauals appeared much greater than they
had done on previous half year!, which was partly owing
to a severe frost, which Isste I upwar is of a month. The
company had a considerable quantity of goods t) deliver
on the line of the canals, and during the continuance of
the frost they had to incur a great expenditure fir
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-year were
the worst that woull ever have to be lad before the
shareholders.—(Cries of " Hear, hear.") Their ex-
penses had hitherto been necessarily very heavy, but
now that the line was so far completed, a considerable
diminution of expenditure would take place; in fact, a
system of reduction had been commenced by the
manager, the efiset of which would be farourably per-
ceptible at the text half-yearly meeting. At a subse
quent period of the mpetzug the chairman stated that
asay
platers,foiit sat —0.2, twchlocsrekteservliceBss.
had
weekly;tnis reduction6 2
guards,
been dispensed with 601. per week; and boat hire, 6/. 10 e w
With reference to the canals, it was considered desirable
that the directors should impress upon Mr. Ricardo,
M.P., the propriety of having carried out the policy
which he had Loins time ego stated be should recom-
mend. It was con ,idered 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 indee
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.—(Hear,
hear.) The Homier Ferries business bad been placed
in the hands 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.—(llear hear, and Shame.)!
The report having been taken as rear],
The CHAIRMAN proposed that that, together with the
accounts, should be adopted.
Mr. TURNER, of Liverpool, seconded the motion.
Mr. MORT3N said he understood that at the last meet-
ing it was decided that every individual who had been
connected with that "job," should be dismissed from
the company's service. So far from that having been
done, one of them, the engineer, had actually been pro-
moted.—(Hear, bear.) He was glad to have heard 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
with respect to the Groat Northern Company. No
two railways could be found which ought to be more
closely and naturally allied, whereas they were at com-
plete enmity, this company doing 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 friendly relations, and
making every interchange of traffic which they possibly
could. He also complained of the heavy working ex-
penses of the line, which amounted to no less than 65
per cent. of the traffic receipts; while on the Eastern
Counties they were only 48 per cent.; on the Lan-
cashire and Yorkshire, 46 per cent.; on the London
and Brighton, 43; and on the London and North-
Western, 38 per cent. Under all the circumstances,
he could not vote for the reception of the directors'
report.
of Birmingham, defended the
Mr. CHA.RLES LEACH,
directors. From elaborate calculations which he hid
made, founded upon sound data, he was convinced that
in 1854 the receipts would be at least 10,0001 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 0113 per cent. up to six
per cent., which ho had no doubt they would ultimately
arrive at.—(Cbe rs.)
The CHAIRMAN ststed the directors bad made various
overtures to the directors of the Great Northern Com-
pany, but on, all points they had met with great diffieul-
tes on the part of that company. Lie hoped, however,
that some satisfactory arrangements might shortly be
decided upon. With respect to the Humber Ferries
transaction, and the position of their engineer, he did
not think that Mr. Fowler had done anything improper;
he had been a most useful man to the compaey, and
filled the office with advantage to the shareholders.
After a tedious and uninteresting discussion, the mo-
tion was put from the chair, and only four hands were
held up against it.
A dividend of 71 per cent. per annum upon the No.l
Quarters was agreed to, payment to be deferred to a
subsequent period.
The resolutions of a routine character were passed,
and the ted, a vote of thanks having
been warmly accorded to the Noele Chairman.
proceedings termina

YORK AND NORTiI 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, El., of Moat-hall, chairman
of the board of directors, presAcd.
The report baying been taken as road,
The CHAIRMAN, in moving the adoption of the report,
made sonv., general remark,. First,he observt d, that on
the previous day the directors had had the honour of
conveyinc, her Majesty along their lino from NJ' manton
to Castl:Howard. The journey was effec'.ed bafily and
at a very rapid rate, and her Majesty expresi,d Ler en-
tire satisfaction with the arrangement. The whole
distance from London to Cattle Howard was accom
pushed in the short period of six hours. After g ivoinnge
some explanations upon one or two items in the accounts,
he explained that the 40,0001. received from Mr. Hudson
had been carried to acc:uat. lie then referred to anen
aanpd-
spoaurerenet increased amount
the
great ,r of
rwe pairsorli which had been
n g expenses,
effected in the permanent way; another increase arose
and after after ample inquiry as to
the from an m-atentation of the wages of the n
oremet',, which 6 the directors had submitted to, on the
neighDouring compasies.
ailircaatteioonfofwtahgeesm. °pp;id