The Liverpool Standard and General Commercial Advertiser.
Liverpool, Merseyside, England, 1841-02-23 00:00:00

satisfactory to kno

tary, that t
involved, z
arose from circumstances common to all railway undertak-
ings, as well as to those circumstances peculiarly connected
with a company who came so late into the market. In that
litigation the company was successful, and, in addition to our

series of liti

nd over

. .
tions in which the company was
the directory had' no controul,

imeratton tiom the meshes of the law, the advantages attain-
able by the improved state of the money market, and the
clearing away of the clouds that hung over the affairs of the
company, now offer a hope that, for the future, we shall have
much great

r ease in collecting resources, and making greater
progress in carrying on the works than hitherto. You are al-
ready so well acquainted with the history of railways—this
town being almost the centre and parent of all the railways in
the country—that it is unnecessary for me to into a detail of
their respective expenditure, in order to prove specifically
what I asserted generally. lam amply borne out in what 1
have stated with respect to expenditure by the reports of the
Grand Junction Railway, the North Midland Railway, the
Manchester and Leeds Railway, &c. &c. &C. in all of which
the expenditure haS considerably exceeded ;heir estimates ;
whereas in this railway, so far as we have gone, the expendi-
ture has not exceeded the estimate. Since our last meeting
the directory have turned their serious attention to the ques-
tion of the prcbable traffic. They were not satisfied with
the original estimate on which the application to parliament
was founded, but employed some gentlemen conversant with
that mode of business to make re-investigations of the pro-
bable traffic, and the result of their labours will be laid before
you in the report—which report, I am
satisfactory

so tar as we are able to give an opinion. -The
.-.strong expectation (on these matters it
oted that we can never speak with certainty)
,ven or eight miles of the line being opened in the autumn
of the present year. It is exceedingly desirable that, circum-
stances permitting, it should be carried on with as little delay
as possible ; for if we can only open seven or eight miles of
the line, the undertaking, instead of being one only in pos-
sibility, and futurity, will assume a settled and established
character. and the public will feel greater confidence in it.
The probable profits arising from these seven or eight miles,
which will constitute the whole line to Glossop, will, when
laid before you, prove very satisfactory. lam anticipating
the effect of this report, but I thought it my duty, on taking
the chair, to state the circumstances under which we meet
you. I do so, as the opinion of the direction is considered
worth having. If the proprietary support the direction, and
place the necessary resources at their command to carry on
the affairs of the company, there will be no ground for
despondency, and the position of the company will soon be
different from what it as at present. The chairman
ed the company's seal to the registry of their pro-

report will hold out
should be recol