The Liverpool Standard and General Commercial Advertiser.
Liverpool, Merseyside, England, 1846-04-28 00:00:00

MANCHESTER, MIDLAND, AND GREAT
GRIM S BY- RAI L WAY.
A meeting of the scripholders in the above company
Was held yesterday in the Clarendon-rooms for the pur-
pose of considering its position and prospects. The meet-
ing was numerously and influentially attended
R. HAttsonn, Esq., town councillor, was called to the
chair, and briefly stated the objects of the meeting. Some
gentlemen, he understood, were anxious to preserve as
much as possible the scrip of the company ; but there
were also some who, rather than incur further expense, or
pay any further call, would wish to have the concern
wound up altogether. He would not himself at present
venture to give an opinion on the subject, but would he
very glad to hear the sentiments of any of the gentlemen
present.
Mr. ALDRED, the Chairman of the Provisional Com-
mittee, (who with Mr. Parker, the Secretary, had come
over to attend the meeting, on observing it advertised in
the Liverpool papers,) expressed their willingness to
render every information, and stated that the Directors
had ordered the accounts to be made up, and would them-
selves have shortly called a similar meeting to the present,
in order to determine upon future proceedings.
A map, showing the direction of the proposed line, was
then produced, and in answer to inquiries, the SECaSTARY
stated some of the leading features of the line, and re-
marked upon its present position and prospects. When
before the Board of Trade last year, although then in an
incomplete state, it had been reported upon as that which
afforded the greatest amount of advantage to the district.
It was superior to the Sheffield and Lincoln line, in as
much as it interfered with no canal, whereas that line had
already a canal with which it must compete for traffic. As
a proof that Rotherham was the best route from Sheffield
to Gainsborougb, he stated that there were already several
coaches running between the towns, all of which went
through Rotherham. The traffic, which had been taken
most guardedly by a competent authority, showed pi
existing, without bringing forward prospective or probable
traffic. _ _

Mr. ALDRED enlarged upon the importance of the
coal district through a portion- of which the line must
pass. There were, it had been estimated, within a mile
on each side of that portion of the line, 90 millions of
tons of coal yet to be got, and which might be termed
virgin coal; and it was a fact that many thousands of tons
were annually raised, highly suitable for engine purposes ;
but, from the cost and difficulty of transit, remain un-
used. The other line would interfere with the essential
outlet of coal to Sheffield, and thus cause an injurious
competition between that town and other places. which
would reduce prices so low as eventually to prevent its
being sent either east or west. The population of the
district through which the Manchester, Midland, and
Great Grimsby Railroad would pass exceeded that of the
competing line by 33,000—the numbers by one line being
175;000, in the other 142,000. The coal field would cer-
tainly prove the primary source of traffic ; but estimates
had been drawn up by a highly competent gentleman of the
present amount of traffic, exclusive of probabilities, and he
estimated that it would yield 9i per cent. Lord Firzwil-
liam and Lord Effingham, who were two of the largest pro-
prietors through which the line must pass, both admitted
it was a line which sooner or later must be made. It was
the most direct line to the several towns through which it
must pass, and was much required for the conveyance of
agricultural produce, and the other purposes of commerce.
They (the scripholders) were in possession of it now; and
the question was, whether the circumstances of the
country, or of their own peculiar line, were such as to
make it desirable, a matter of policy, or sound discretion,
to continue, and place themselves in possession of the
bill or not. He bad been told there was a doubt, even
supposing they obtainedahe bill, as to how far the calls
would be responded to. These parties assumed that the
calls would be more numerous than he thought they
actually would be. Allowing this to be a difficulty,, was
it not now an important point to place the compahy in
such a position, that in one, two, or three years,
they could feel justified in proceeding with the line.
This was a point which the provisional directors
had not lost sight of. If the bill were obtained it would
be so essential to other parties, he meant to railways
already established, that any of them, as Capt. Lawes had
said, would be very glad to get hold of it. Mr. Hudson
himself had said the line was full of merits ; and, on behalf
of another company, said they would be glad to assist in
its formation. Preliminary arrangements bad been made
with other companies, and the probability was, that in two
or three years the value of the scrip would be much in-
creased. The question now was whether they should
spend a few shillings more to place themselves ,n pos-
session of the bill, and power to proceed. He (Mr. A.)
could say that, as a scrip-holder' he had not sold nor
parted with a single share, and he hoped the meeting
would infer from that, that he felt confident of the value
of the undertaking. (Applause.)
In answer to inquiries,
The SECRETARY stated there were 32,000 shares in the
line, and the proposed capital was £BOO,OOO. The shares
issued or on which deposits -had been paid, amounted to
31,2C0. The liabilities and actual' expenditure incurred
was £23,000, the amount paid up £42,000.
Mr. ALDRED stated that the expenses would not have
been two-thirds the present amount bad not the commit-
tee been compelled in London to oppose the vexatious
allegations of rival companies, not one of which had been
sustained.

A proprietor then complained that statements had in
February last appeared in several papers, stating as a
matter of certainty that the line was about to be amalga-
mg.t_d_wi t ter and Lull S. w_ltiq hinslial. gig -
-diately raised the price to £7 or XS; at which price he had
unfortunately purchased many. • He was proceeding to
remark that these statements must have emanated from
the provisional committee, and been made for interested
purposes, but was called to order by the chairman.
Mr. ALDRED disclaimed any knomledge of such state-
ments; they were not issued from the committee; al-
though preliminary arrangements, he said, such as the
one referred to, bad certainly been in progress.
Some discussion ensued.
On the motion of Mr. Parry, the following resolution
was unanimously carried :

Resolved,—" That this meeting, composed of scrip-
holders in the Manchester, Midland, and Great Grimsby
Railway, having heard the explanation afforded by the
Chairman of the Provisional Committee and the Secre-
tary of the leading features and advantages offered by
that undertaking, the steps which they have taken to for-
ward it in Parliament, and their prospects of a successful
result, hereby express the confidence which they entertain
in the merits of the railway, and in the Provisional Com-
mittee themselves, whom they urge to use their best ef-
forts to carry it into operation."
A vote of thanks to the Provisional Committee, to Mr.
Aldred, and Mr. Parker, having been passed, and also
to the Chairman of the meeting,—compliments duly ac-
knowledged,—the meeting separated. highly satisfied.