The Sun.
London, England, 1845-09-12 00:00:00

RAILWAY INTELLIGENCE.

GRAND JUNCTION.
LIVERPOOL, WEDNESDAY.—The Proprietors in this Com-
pany held a special general meeting to-day, for the purpose
of determining as to raising, and the mode of raising, the
further capital authorised to be raised by the Act for the
construction of the Trent Valley Railway, to make orders
and directions in relation to the new shares to be created in
pursuance of the powers of the Amalgamation Act, and also
to consolidate the paid-up shares of the Company into capital
stock, and on other special affairs.
The meeting was most numerously attended. Mr. Charles
Laurence presided,
The following report Was read by Mr. BOOTH :--
" The Directors are happy to announce to the Proprietors
the successful issue of their application to Parliament for an
Act to consolidate the Bolton and Leigh, Liverpool and
Manchester, and Grand Junction Railways. In the pro-
gress of the Bill through Parliament, the Directors had to
contend against the opposition of sundry railway companies
and commercial bodies ; the alleged ground of objection
being, that the amalgamated companies would become so
powerful in their combined arrangements, that it would be
difficult for minor interests to contend against them. Par-
Lament, however, having sanctioned your application, it
remains for the amalgamated company to prove to their
former opponents that any increased efficiency or influence
which they may possess will be used, not alone in the
furtherance of their immediate interests, but in the promo-
tion of the public accommodation. The Directors are happy
on the present occasion to refer to their published advertise-
ments, announcing a reduction of fares, with improved
arrangements, both on the Birmingham, and on the Liver-
pool and Manchester lines. And they refer to these in- I
creased facilities of transit as an earnest of their desire to '
combine, with a due attention to the interests of the Pro-
prietors, a corresponding regard to the convenience and
satisfaction of the public. ith respect to the traffic of
the present half-year, the Directors are glad to report a
considerable increase upon that of 1844, and the experience
of each month establishes the desirableness of that ex-
tended accommodation in stations and approaches at
this end of the line, for which the authority of Par-
liament has now been obtained, and which the Directors
are preparing to carry immediately into effect. In the Amal-
gamation Act power has been obtained to convert the whole
of the paid- up shares into capital stock. The facility which
such a measure will give to the purchase of railway stock,
without reference to the machinery of shares or half shares,
is so obvious an advantage, that the Directors rely on the
sanction of the Proprietors to the resolution which they will
propose for carrying this provision of the Act into immediate
operation. They intend still further to recommend Grand
Junction stock to the favour of the public, by abolishing all
charges on the registering of transfers, or on the issue or en-
dorsement of certificates. After the 30th instant, this busi-
ness will be transacted at the secretary's office, without cost
to purchasers, though certainly involving some additional
expense to the Company. The Directors have further to an-
nounce, that, with permission of the Proprietors, they propose
for the future to discontinue the payment of intermediate
quarterly dividends. This operation has entailed consider-
able pecuniary loss on the Company, while the preparations
requisite for the issue quarterly of so many dividend war-
rants, and the unavoidable closing of the transfer-office,
during the operation in the middle of each half-year, has
proved a serious interruption to business. The Directors do
not regret having given to the measure a fair trial, but they
have come to the conclusion that the general objections
which they have briefly stated, are not compensated for by
any adequate advantage to individual Proprietors. The
Shareholders in the late Grand Junction Company ate aware
of the intention of the Directors (as announced in their
report of the Ist of August) to obtain authority in the
Amalgamation Act for the issue of' new quarter shares, to
be allotted in the proportion of one new quarter to the holder
of each 100/. Grand Junction share, or of shares amounting
in the aggregate to 100/. This provision of the Act the
Directors propose to carry into effect by the immediate issue
of 251. shares, upon which dividends will be payable in the
same ratio as on original shares, less five per cent. interest
on the amount not paid up. The calls on these shares
will be made by such instalments, and at such periods,
as the Directors may judge expedient. In the published
report for the half year ending 30th of June last, it appeared
that there was a surplus balance, or reserved fund, belong-
ing to the Grand Junction, proper, of 64,006/. Bs. 10d. ;
and the Liverpool and Manchester Proprietors will recollect
that there was a surplus in that concern, over and above
paying the half-year's dividend, of 10,468/. This latter sum
it is proposed to carry to the surplus fund of the Amal-
gamated Company, and in addition to it, the sum of
19,147/. from the surplus balance of the Grand Junction,
proper, as above stated ; these sums being proportionate
to the respective capitals of the two concerns, and con-
stituting a surplus balance of 29,615/. to the credit of the
Amalgamated Company. By this arrangement, the sum of
19,147/. must be deducted from the Grand Junction surplus
balance, as stated above, 64,008/, deduct 19,147/., leav-
ing 44,8611. applicable as a bonus to the Shareholders of
the Grand Junction, proper. The Directors propose to
the holders of the 22,033 Grand Junction shares a bonus
of 21. per share, equalling 44,0664 and to the holders of
the 22,033 eighth shares, which must be considered
at present as five per cent. stock, compared with the re-
mainder at ten per cent., they propose to allow a bonus of
W. per cent. on the 5/. paid up, or Is. for each one-eighth
share, or 1,101/. 135.. making together 45,167/. 135., leaving
the small balance of 306/. 13s. to the debit of profit and loss
account. It is proper also to mention that the contingent
claim to a residue of back interest on the Liverpool and Man-
chester old shares must be considered now to cease and de-
termine ; as, from this time forward, there will be but one
common fund applicable to the purposes and fur the knefit of
the Proprietors indiscriminately of the Amalgamated Griod
Junction Company."
A series of resolutions, founded upon the recommendations
in the report were moved seriatim by the Chairman, and car-
ried unanimously.
Ou the motion of the Chairman it was also resolved that
in future the dividends be paid half-yearly.
The CHAIRMAN announced that the new church at Crewe
was ready for presentation, and it has necessarily to provide
for the maintenance of the minister. On the motion of Mr.
Casson, the Directors were empowered to endow the church
with a sum sufficient to secure the consecration, and to pay
a further sum annually to the minister, so that his income
be not less than 2001. per annum.
A committee was appointed to obtain a portrait of Mr.
John Moss, the late chairman, as a mark of the Proprietors'
sense of his services.

BIRMINGHAM, WOLVERHAMPTON, AND STOUR

VALLEY.

On Tuesday a meeting of the inhabitants was held at
Ilalesowen, in Worcestershire, in favour of this line, Mr.
John Meredith in the chair. The meeting was influentially
attended.

Mr. SCOTT, M.P., one of the deputation, stated that the
line was brought forward purely for local purposes, and in
order that the line might pass through those districts where
the inhabitants stood most in need of railway accommoda-
tion. The great object they had in view of coming to that
district was to enable them to open a new mining district of .
immense resources. It was intended to unite the line with
the Oxford, Worcester, end Wolverhampton, and Grand
Junction lines, but without detracting, unfairly, from the
traffic of either. It was intended to start the line from
Birmingham to Smethwick, from thence to Oldbury, and to
Wolverhampton, and a branch would start and pass
through the hill above the valley in which they were then
assembled. It was intended to bring the line as near that
ancient town as the ground would permit, and to pass
through the vale of Stour on to Stouiport. In Halesowen
there was a largo mineral district unwrought and inclosed
within the surrounding hills, over which it WO3 impossible
to cut a canal. They were also aware of the peculiar charac-
ter of the river Stour, and that there were more
joining it than any other river in the kingdom. workslhe
line
would pass at or as near Halesowen as was praticable, and the
engineering difficulties, if any existed, might be overcome by
atmospheric agency. Three-fourths of Halesowen goods went
to Birmingham, and an immn proportion of their pas-
sengers also went to the same etows-en ; very few, indeed, went
to Worcester : therefore they would have a decided advan-
tage by having such an immediate communication with Bir-
mingham. They would also be enabled to get directly into
the north by means of various branches, and thereby forward
their goods to many parts of the kingdom to which at present
they had not access. At Kidderminster they would join the
Welsh Midland lines. The South Wales. country was very 1 itt le
known at present, very few persons were aware of its great im-
portance, or the benefits to be derived from a communication
with the Welsh valeS. It would be ofvastimportauce to the iron-
masters in the district of Halesowen if they could get their
mixtures from Wales. Indeed, they could not conceive the
great advantages that would arise to
.tbem from the pro-
posed railway. It would bring them into the great railway
system, the full advantage of which it was intended they
ehOn.lci cleriye from the company with whom the present

scheme originated. In order the more effectually to carry
out the objects which they had in view, it was intended that
the London and Birmingham Company should work this
line, and the public would see by the rates of charge upon
the present line somethine, like the reduction which they
might in future expect. The people of Halesowea would
have the advantage of an admirable station in the centre of
Birmingham.
Resolutions, proposed and supported by Messrs. Hodgetts,
Haines, Humphray, Wood, Bloxham, Darby, Best, and others,
were passed unanimously in favour of the undertaking.
Our announcement last week that the operations upon this
line had commenced upon the Bury side induced several
hundreds of people to visit the neighbourhood of the mer-
maid-pits on Sunday last. The scene, we understand, pre-
sented the appearance of a fair, save that nothing could be
more orderly and decorous than the conduct of the people.
The works are proceeding rapidly, and it is expected that
by next week considerable progress will be apparent.—Bury
Herald.

IPSWICH AND YAamouTH COAST LINE.---A treaty has just
been concluded with this and the Norfolk Company, for an
extension of the former line to Norwich, with branches to
Beccles and Bungay. The capital will be increased, and
the Norfolk Company will take shares in the Ipswich and
Yarmouth. _ _

BIRMINGHAM CENTRAL STATION.-At a meeting of the
Birmingham town commissioners, on Tuesday, resolutions
were passed in support of the proposition of the Birmingham,
Wolverhampton, and Stour Valley Company to establish a
grand central terminus in Birmingham for the lines radiating
north and south.

CALEDONII.N. —Last week there was a public demonstra-
tion at Carstairs, to celebrate the commencement of the
works on this line. where were present the magistrates of
the county and burgh, the trades of Lanark, masonic lodges
from Carnwash, and the following gentry of the district :
Lady Belhaven, Lady Charlotte Denison, Lady Macdonald
Lockhart, Lady Honeyman, Mrs. Cochran Baillie, Mrs. Mon-
teith, Mrs. Carmichael, and Miss Lockhart. Among the gen-
tlemen present were Sir N. Macdonald Lockhart, J. J. H.
Johnstone, M.P., Mr. Lockhart, M.P., and the other Direc-
tors of the Caledonian Railway, Mr. Cochran Baillie, M.P.,
Richard M'Kenzie, W.S., the Lord Provost and Baillie An-
derson, of Glasgow, and the Provost and magistrates of La-
nark. Bumpers were filled to the success of the line.