The Liverpool Standard and General Commercial Advertiser.
Liverpool, Merseyside, England, 1840-04-14 00:00:00

SHEFFIELD AND MANCHESTER RAILWAY.

We understand that this important line of railway is at
length about to be proceeded with in earnest. It is expected
that the whole of the distance between Manchester and
Glossop will be under contract during the present summer,
and we think that if the directors are supported in their
efforts by the shareholders, and supplied with funds to enable
them to press forward the works with energy and spirit, they
may succeed in completing and opening to the public that
portion of the line in the course of the summer of 1841, and
thus secure at once a large and profitable traffic between
Manchester and the populous manufacturing, districts of
Ashton, Staly Bridge, Mcttram, Glossop, &c., besides that
which they will derive by shortening the difficult road journey
between Manchester and Sheffield.

We are seldom warranted in anticipating much benefit in
the shape of profit from the partial opening of railways, but
we have it proved by the experience of the working of
Manchester and Leeds line, that in a manufacturing district
a profit may be derived ; and in the case of the Sheffield and
Manchester Railway it should be borne in mind that the great
cost of forming an entrance into the town of Manchester is
borne by another company, and that the purchase of a mass
of expensive property, and the construction of expensive
viaducts, bridges, and ether approaches which in most lines
is sufficient to annihilate any prospect of advantage from a
partial opening is not in this case incurred; the proprietors
may reasonably anticipate a profit from the opening of the
line to Mottram or Glossop, or even to Ashton-under-Lyne
and Hyde.

CHESTER AND BIRKENHEAD RAILWAY.
The half-yearly general meeting of the proprietors of this
company was held on Saturday, in the Clarendon Rooms,
South John-street, for the purpose of receiving the directors'
and engineer's reports, a statement of the treasurer's accounts,
and for the transaction of other business. William Dixon,
Esq., Chairman of the Board of Directors, took the chair.
The CHAIRMAN, after having briefly announced the objects
of the meeting, called upon Mr. Mallaby, Clerk to the
Company, to read the half-yearly report of the directors.
Mr. MALLABY then proceeded to read the report. It com-
menced by alluding to the flooding and continuous rains of
the last winter, by which the progress of the works had been
retarded at least three months. It was satisfactory, however,
that this line has stood almost uninjured the severity of a
season which elsewhere had caused great destruction. The
report then stated that the principal subjects for the informa-
tion of the proprietary were, first, the act of parliament for
raising £125,000, having been obtained pursuant to the wish
of the last general meeting ; secondly, the conclusion of a
satisfactory arrangement between this company and the
Grand Junction Company, arising out of the purchase of the
Chester and Crewe line by the latter, and finally, the pur-
chase by this company of the Monks Ferry Hotel, quay, and
lands. With regard to the first point, 2,000 of the new half
shares had already been appropriated. The directors had
deemed it prudent to issue the new half shares at a discount
of £5, permitting every proprietor to take one half share for
every share held, provided that £l5 be paid by equal instal-
me is on May 1, June 15, and August 1 ; and in the event
of all not being taken, the residue to be sold for the benefit
of-the company. With regard to the terms made with the
Grand Junction Company, the directors stated that they in-
volved delicate and knotty points, but they had been mutually
settled, and were extremely favourable to this company. On
the subject of the Monks Ferry purchase, the directors con-
sidered that it would be prejudicial to develope fully the plan
by which they estimated the value of the purchase.
Mr. 'WALLABY next read the terms of agreement with the
Grand Junction Railway Company for the use of their lime
as far as it might be necessary by the Chester and Birken-
head Railway Company. They appeared to be very favour-
able; and Mr. Mallaby said they put this company in the
most favourable position with the Grand Junction Company
of any company with whom they had dealings.
The report of Mr. Stephenson and Mr. Dixon, the engi-
neers, was then read. It detailed the state of the works
throughout the line, from which_they appeared to be pro-
gressing most favourably. Ninety per cent. of the works
had been completed along the entire line, and the completion
of the whole may be expected by the Ist of August next.
Mr. MALLABY read a statement of the treasurer's accounts
for the half year ending 29th February last. Including the
sum of £7051 16s 6d, the balance remaining in hand at the
close of the last half-year, the receipts had been £63,8713s sd,
and the payments £54,560 3s id, leaving a balance to be
towards the succeeding half year of £9311 Os 4tl. This
statement was signed by Mr. James, the treasurer, and coun-
tersigned by Mr. Stanway, a public accountant at Manches-
ter.

Mr. FoLmorr moved that the report of the directors,
the statement of the terms of agreement with the directors
of the Grand Junction Railway Company, and the treasurer's
accounts be proved and circulated among the proprietors.
Mr. SEAGAR seconded the motion.
The CHAIRMAN put it, and it was carried unanimously.
On the motion of Mr. JOHN JACKSON, seconded by Mr.
ROBERTSON GLADSTONE, the three retiring Directors, Mr.
Dixon, Mr. Fosberry, and Mr. Bentham were unanimously
re-elected. There being still a vacancy among the directors,
Mr. 11BALEX moved, and Mr. SEAGER seconded a resolution
that Mr. William Clackstone be appointed. The proposi-
tion was unanimously adopted.
The CHAIRMAN then stated, that if any proprietor wished
to ask for any information, the directors would be glad to
give it. The engineers were also there, prepared to answer
any question.
A. PROPRIETOR asked what was to be the amount of each
call upon the new shares?
The CHAIRMAN replied, that there would be three calls
of £5 each ; the first to be paid on the Ist May, the 2nd on
the 16th June, and the third on the Ist August. The direc-
tors, of course, could not bind themselves, but they hoped
that the £l5 thus called for, would enable them to complete
the works.

A SHAREHOLDER inquired whether the directors antici-
pated that these calls would be sufficient.
The CHAIRMAN said that he could not tell. The new
shares issued were for £2O. The directors called for only
£l5, and if they thought it necessary to call for the remain-
ing £5, of course they would.
Another Su AREHOLDER stated that from the present views
of the directors, it was not probable that they would call for
the remaining £5, because when the £l5 had been paid they
would be in a legal position to borrow £44,000.
The CHAIRMAN observed that the £l5, calls would pro-
duce £70,000, after which,.when paid, the directors had power
to borrow £44,000.

A PROPRIETOR wished to know whether the shareholders
must subscribe to the new shares to-day, or until what period
they might refuse to take them ?
The CHAIRMAN answered that the shareholders must not
subscribe to-day, but that they must send in their reply on
or before the Ist of May. The first call would have to be
paid, s well as the arrears on the original shares, on that
day. :

Another PRQPRIETOR said he was very desirous of ascer-
taining whether the sleepers on the railway had been kyan-
ized ?

Mr. DIXON, the junior engineer, replied that the sleepers
had been kyanized to a considerable extent, but not exclu-
sively, as a portion of the timber was of a quality not to re-
quire that process.

A vote of thanks was then presented to the directors and
to the chairman, and the meeting separated.

MEETING Ole THE GRAND JUNCTION RAILWAY
COMPANY.
On Saturday, a meeting of the Grand Junction Railway
company was held at the cotton sales-room, Exchange-build-
ings, for the purpose of taking into . consideration the incor-
poration of the Chester and Crewe Railway with the Grand
Junction Railway company. JOHN Moss, Esq. in the chair.
The CHAIRMAN briefly explained the object of the meet-
ing,

Mr. SWIFT, the company's law-clerk, then read the heads
of the proposed bill, which vested the whole of the property
of the Chester and Crewe line in the Grand Junction com-
pany, the latter undertaking to meet all the engagements of
the former, and to complete the line.
It was moved by Mr. TAYLECTR, and seconded by Mr.
I-I mon, that application be made to parliament for an act
embracing the above objects, which was carried unanimously.
THE CHAIRMAN directed the attention of the meeting to a
statement put forth by Mr. Bury, the effect of which was to
show that the expense of the locomotive power on the Grand
Juntion line was greater than the expense of the same power
on the London and Birmingham line. Mr: Locke, their en-
gineer, being present, would be glad to afford the meeting
any explanation on the subject.
Mr. LOCKE said that the statement alluded to made it ap-
pear that the expense of the locomotive power on their line
exceeded by £17,000 a year the expense of the same power
on the London and Birmingham. Nothing could be more
fallacious than the data on which Mr. Bury based his calcula-
tions. The two lines were essentially different. In their
gradients the London and Birmingham had an advantage over
the Grand Junction; but then look at the cost of the respec-
tive lines. In proportion to the excellence•of the gradents
would the cost of locomotion be diminished. But the Grand
Junction was a longer line than the other, taking into ac-
count the traversing of the engines between Manchester and
Warrington ; it had stationery engines at Warrington, Staf-
ford and other parts of the line, whereas there was not a
single stationery engine on the London and Birmingham, so
that if any accident occurred on the latter, an engine had to
proceed 50 miles before it could be discovered. Mr. Locke
proceeded to show that all these different circumstances in
the relative position and workings of the two lines had been
overlooked. If they (the company) contemplated a change
in their locomotive power, he was prepared to show them
that no reliance could safely be placed on the statement on
whieh he had been commenting. Mr. Locke, at the con-
clusion of his address, was warmly applauded.
The CHAIRMAN stated that the object of the Grand Junc-
tion Directors had always been to have the best loccmotive
power, and they could not certainly be induced to change
their system on the showing of Mr. Bury.
A PROPRIETOR stated that the Directors of the London
and Birmingham line were not to be held responsible for the
statement of Mr. Bury. It was his own individual act, and
three-fourths of the directors had never seen it. (Hear.)
Thanks were voted to the chairman, and the meeting se-
parated.

We learn that the day fixed on the opening of the Shoreham
branch of the London and Brighton Railway is the 11th of
next month. Meantime the works upon the main line are
proceeding with their accustomed spirit.

The success of the North Union Railway has recently been
such that we understand a dividend at the rate of 61 or 6t
per cent. is about to be declared.

The Dundee and Arbroath Railway was formally opened to
the public last week. The authorities of the terminal towns
and the inhabitants generally took much interest in the pro-
c'edings. The line has been in partial operation for the, last
eighteen months, and we. understand that there is every
prospect of the most brilliant success.—Railway Times.

WEEKLY RETURN OF TRAFFIC ON RAILWAYS,
(From the Railway Magazine.)

P.mileiP.mile Passeng.
Pass en- ANI E I e-.
Cash.
gers. pr.wk.,p. day. per day.
I , --
£. .Z. X.
Birmingham — 12126 107+ 151
South Western — 2421 411 6
Great Western ..
Newcast. & Carlisle 1632 27 4
Birmg. & Derby — 777 201 3 _____
Greenwich, 28084 982 2572 37 4012
Manchester &Leeds 12325 856 631 9 1760
Croydon 9134 • 560 53n 71 1305
York &N. Midland 2013 318 22 1 3 288
Midland Counties 2893 2624 17 21- 413
Glasgow & Ayr 1903 74 31 I I 1 317
Eastern Counties 4877 ' 697

POLICE INTELLIGENCE.-YESTERDAY.