The Liverpool Standard and General Commercial Advertiser.
Liverpool, Merseyside, England, 1840-03-06 00:00:00

MMERCIAL

--HEARTS RESOLVED AND HANDS PREPARED, THE BLESSINGS THEY ENJOY TO GUARD.—SnroLLET.

FRIDAY, MARCH 6, IS4O

PO be LET, BONDED and FREE ROOMS, in Union-
'. court.
Apply to JOHN GLADSTONE and Co.

TO be LET, as a PRIVATE RESIDENCE or an HO-
TEL, the spacious and convenient HOUSE, OUT-
BUILDINGS, GARDEN, and PLEASURE GROUNDS,
on the North Shore, Kirkdale, called SANDHILLS. To be
entered upon about the sth June next.
Apply to Mr. LEIGH, Basnett-street.

Amount of Fourth Call on
11,657 Shares
In advance of Fifth Call on 705
Shares.
In advance of Sixth, Seventh,
Eighth, Ninth, & Tenth Calls
Amount of Interest on Calls ..
Do. from Banks,
less Commission
Rents and Sundries

EDINBURGH AND GLASGOW RAILWAY COM-
PANY.—GENERAL MEETING.
THE HALF-YEARLY GENERAL MEETING of
PROPRIETORS in this COMPANY, was held on
TUESDAY, the 25th instant, in the Company's Head Office,
North Queeen-street, Glasgow,—
JOHN LEADBETTER, Esq. in the Chair.
The Meeting was numerously and respectably attended.
The Secretary read the advertisement calling the Meeting,
and the Minutes of the last Half-Yearly Meeting, which
were confirmed. He then proceeded to read the Report of
the Directors, as follows :
" In the Reports which the Directors have hitherto laid
before the Proprietors, they have been able to do little more
than state, that the works were advancing steadily, and that
they were using their best efforts to forward the interests of
the undertaking. But as the time of opening the Line ap-
proaches, it will be in their power to afford more interesting
accounts.
With regard to the progress of the works, during the pe-
riod which has elapsed since the date of the last Meeting, the
Directors beg to refer to the annexed Report by Mr. Miller,
their Engineer. From this it will be seen, that, notwithstand-
ing the extreme wetness of the past season—which has, of
course, been most unpropitious to their operations—the con-
tractors generally have been advancing in a satisfactory man-
ner; and the Directors are happy to add,. that they see no
cause to change the opinion they formerly expressed, as to
the period wnen the Line may be expected to be opened.
The season which is now commencing, will be one, of the
greatest importance to the undertaking ; and the Directors
will avail themselves of the powers they possess to push for-
ward the works with increased vigour.
Of the 17 miles, stated in the last Report to be the lightest
part of the line, 9 miles have been lately let, chiefly to En-
glish contractors of experience and respectability. And since
then, the remaining 8 miles have been advertised, and will be
under contract next week, when the works along the whole
Line will be in operation.
The Directors, anticipating for some time a fall in the
price of iron, delayed entering into any contracts for the
permanent Rails. The price has now fallen considerably below
the Parliamentary estimate, and this will enable them to make
favourable contracts for this important branch of outlay.
One of the principal matters which has engaged the atten-
tion of the Directors, has been the acquisition of the remain-
ing portion of the land required for the operations of the
Company. The Shareholders are already aware of the diffi-
culties which the Directors have had to encounter in this de-
partment of their labours, and of the extravagent views en-
tertained by landed proprietors of the value of the ground,
required for the Line. In general, the Directors, by means
of negociation and of arbitration, have succeeded in attaining
their object. In some cases, however, it has been found ne-
cessary to appeal to a Jury : and they are happy to say, that,
the results, in nearly every instance, have shown that they
were amply justified in doing so. In proof of this, they will
only refer to the two most recent cases. In the one the sum
asked was £BOOO, and the verdict £873; in the other, the
claim attempted to be proved, was £24,000 (though restricted
during the trial to 14,000), and the verdict £1054. The ex-
pences of these trials have been considerable, but the Direct-
ors think the money well laid out. While they are wiling
to allow a fair and even a liberal compensation to proprietors,
they are determined to appeal to the protection of a Jury
against every unreasonable or exhorbitant demand. The
Directors hope to be shortly in possession of the portion of
land not yet acquired.
In the last Report, it was stated that a Fourth Call had
been made, and would become payable on the 4th of Sep-
tember. Since then, a Fifth Call has been ordered: this
became payable on the 14th January. But as the payments
made in compliance with it are subsequent to the date of the
Balance-Sheet, they are of course, not included in the an-
nexed statement.
The State of the Share List is,a subject to which much
attention has been devoted. With the view of gaining as
much information as possible concerning the parties in
arrear, the Directors, shortly after the last Half-yearly
Meeting, instructed the secretary to proceed to Liverpool,
Manchester, &c. And they are happy to be enabled to re-
port, that this and the other measures which they have
adopted for recovery of the arrears, have been attended with
good effects. In some instances, where all other means
were found to be unavailing, they were compelled to resort
to legal measures. In other cases again, after minute inqui-
ries had been instituted, it was considered more advisable to
declare the Shares forfeited ; and the Directors have now,
accordingly, to submit the Declaration of Forfeiture of 758
Shares to the Meeting for confirmation. Of this number,
187 are to be immediately taken up by the Registered Pro-
prietors, and the Arrears of Calls paid by them, according to
agreement. To enable the Directors to dispose of the for-
feited Shares, authority will now require to be given to them.
They have much pleasure in adding, that every week is re-
ducing the amount of Arrears; and they will not allow this
matter to rest, until the whole are disposed of.
Application has lately been made to Parliament for a New
Bill, the object of which is, to explain and amend parts of the
Company's present Act. The Directors, however, do not
anticipate that this will be attended with much expense.
When one-half of the Capital is paid up, the Company are
empowered, under their Act, to raise money on loan to the
extent of £300,000, of which £50,000 may be by a cash cre-
dit with a bank. The Directors anticipate, that after mak-
ing one, or, at the utmost, two Calls more, they will be in a
situation to avail themselves of this power ; and as this will
probably happen before the next Half-yearly Meeting of
Proprietors takes place, they now beg to submit to the pre-
sent Meeting, the propriety of conferring upon them the
power of borrowing money in terms of the Act, in case
such a course may appear to be expedient.
The proprietors are aware of the admirable position of the
Glasgow terminus of the Line—coming down, as it does, into
the heart of the City. The Directors have bestowed much
and anxious considerations on the plans of the DepOt,
as prepared by the Engineer; and, with the further view of
obtaining all the information which could be derived from the
experience of the principal English Companies, so asto the best
mode of laying out the Dep6t, the Chairman and Engineer
lately visited the stations at Liverpool, Manchester, Bir-
mingham, &c. ; and the Directors have much pleasure in
reporting that the valuable information acquired during this
visit will enable the Engineer to make such internal arrange-
ments of the Terminus as will combine every convenience
with the strictest economy.
A Meeting of Deputations from the principal Railway
Companies in Scotland was lately held in Glasgow, for the
purpose of endeavouring to effect a change in the system of
levying the Passenger-duty on Railways. As this matter is
of general interest, and particularly to Scotland, the Di-
rectors willingly concurred in the objects of the meeting.
Under the provisions of the Act of Incorporation, the fol-
lowing Gentlemen, being one-fourth of the Directors, go out
of office at this period—namely, JOHN FLEMING, Esq., JOHN
MAXTON, Esq., ALEXANDER DRYSDALE, ESGI2 ALEX-
ANDER M'NEILL, Esq., ARCHIBALD SMITH, Esq., RICHARD
HUNTER, Esq.
These Gentlemen are, however, re-eligible to office.
The Directors cannot conclude without calling the atten-
tion of the Shareholders to the necessity of their seconding
the anxious desires of the Directors, to take advantage of the
present opening season, to push on the works by every means
in their power. In addition to the increased expenditure
which will be caused by the simultaneous progress of the
works along the whole Line, the Directors have now also to
provide for rails, chairs, sleepers, stone blocks, &c. They
cannot, therefore, too earnestly impress upon the Proprietors
the extreme importance of their promptly paying up the Calls.
It is obviously a painful duty for the Directors to be obliged
to adopt any corercive course, even though the number of
defaulters is limited; but the duty is imperative, and will be
discharged.
Balance Sheet of Income and Expenditure, to 31st
December, 1839.
To Amount received per last X. s. d.
Statement
The following Sums since received :
X. s. d.
510 0 0

Arrears of Equalising Call
Arrears of Second Call on 1372
Shares..
Arrears of Third Call on 4642
Shares

6,860 0 0

30,579 10 2

58,285 0 0

3,526 0 0

2,285 0 0
£740 17 8

917 5 11

- 1,658 3 7
.... 620.19 5

£
By Amount expended per last £. s. d 302,821 7 5
.
Statement
Land and Compensation 22,718 0 0
Works
Law Expenses, including ba-
lance of Parliamentary A gent's
Account connected with the
Act
Surveying and Engineering
Salaries at Glasgow and Edin-
burgh
Direction
Charges, Advertising, Printing,
Postages, Parcels, and Sta-
tionery.
Office Furniture
Police required by the Act

• 2,999 12 6
. 2,181 3 9

.. 503 5 0
.. 500 0 0

... 873 11 8
... 299 11 7
... 353 9 5

234
Cash in Bank £. s. d.£247, 11 7
this date .. 53,622 15 10
Service Rails.. 1,835 12 11
Cash on hand.. 128 7 1

55,586 15 10
------ X 302,821 7 5
JOHN LEADBETTER,}
ARCH. SMITH, Directors.
ALEX. DRYSDALE,

REPORT BY THE ENGINEER.
TO TUE DIRECTORS OF THE EDINBURGH AND GLASGOW
RAILWAY COMPANY.
Gentlemen,—As instructed by you I have gone into the
state of the Works on the Line, and, for your information,
beg to submit the following Report,
COMMENCING AT EDINBURGH :
On the Line between the Haymarket, Edinburgh, and the
crossing of the Broomhouse Road, extending to nearly three
miles, lately contracted for by Mr. Evans, little has yet been
done. He has only just commenced, but he has made his
commencement in a satisfactory manner.
The portion of the line from Broomhouse Road to Norton,
extending to rather more than 31 miles, is now before Con-
tractors for their tenders.
The next portion is that under contract to Messrs. Gibb
Gibb
and Son, extending to rather more than 5 miles.Thl
con-
tract, including the heaviest works upon the Line,viians fullt
first one that was let, and it is now, in all its parts,
operation. 340,000 cubic yards of earth,
yards of rock, have been removed. 1
Broxburn, consisting of seven arches,T
is,
of the piers of the
of the parapet walls, completed.
Severalfounded and carried up, and a
Viaduct d 45
acrossoo 0 cu
thebic
le
with the exception
Newliston Viaduct have been
through the
•
large quantity of material is broughtTfohrewT-arudnnNie-ilth the view of
taking advantage of good weather.
Winchburgh ridge, extending to 350 yards, is in full operation
at both ends, from two shafts, with an engine at each. The
d to the extent of 130 yards. Messrs.
tunnel has been corn
pared for very extensive
Gibb and Son have:ol etttefhoeptierhrewa
toiporaknsstwaesslelsaolsaooi
soon
ao
hsu
att
ea
bnsedeeanas roenmpuwr
permitill
again
is that
st;th theem awnedtntheessotoher
Contractors on the Line.
Immediately west from the portion last described,