The Liverpool Standard and General Commercial Advertiser.
Liverpool, Merseyside, England, 1848-08-15 00:00:00

LONDON AND NORTH-WESTERN RAILWAY'

The half-yearly general meeting of the proprietors of
the London and North-Western Railway Companyl4./fo
held at twelve o'clock on Friday, at the Euston /01j
i
London, to receive the director's report upon the geneo
purposes of the undertaking. it was also stated n to
notices that a proposition would be made to consolids a
into stock such of the £2O shares of the late London and
Birmingham Railway, and £4O shares of the late Gran
Junction Railway as have been paid up in full.
The attendance of proprietors from all parts of th
country was very considerable, upwards of 300 beig
present, among whom were many from Liverpool. °hi
G. C. Glyn commenced his address to the proprietorsths
stating that it had been found impossible to present 14,,
accounts until that morning, as promised at the last tnivati
ing, Owing to the difficulty of collecting the details.
they distributed the accounts, the calling of the tneeLip..
must have been delayed until at least the end'of the
'lll°o
sent month, a delay for which he was extremely unwl the
to be responsible. His reason for wishing to meet
tbst
proprietors as early as possible, was to put an end to we
depreciation of stock which bad been going on for seost,
time, by a plain unvarnished statement of the real Ptheir
tion of the company. He could not conceive why „I' ere
stock should hold its present price. Take it I'S a 1..--10°
seven per cent stock, the present price was decidedly "e„ei.
its real value. (Hear.) It had, however, been dePlZich.
ated in the public estimation by a variety of reports, w'but
had been systematically levelled against the comPanY'con"
which were utterly unfounded. It was impossible Oa, the
coal that, owing to the state of the mercantile wort a 0.0
receipts had undergone a considerable check ; pSSt
happy to say, they would show no filling off in tP"01 .
half-year. They had not, however, increased;
would be recollected that the whole of their polic):croa-
ceeded upon the idea of an increase. Under these ear were
stances, it was with great reluctance the direetollarther
obliged to call upon the proprietors to experienced Vbe
reduction in the dividend. The dividend woul; pears
10s. ; and, in declaring it at that amount, the curia be
believed they were following a course which worn the
best for the eventual prosperity of the companY• £12,0°"
other hand, there had been a saving of between,_
and £13,000 in the working charges, although n.u° --The
miles of working line had been added to the hrle(itivers•
Chairman referred to the dispute with the engine; co the
He stated that they had received such assistance 'lii,htes'
north and elsewhere that there would not be the sr rio the
difficulty in carrying on the service without &Inge_ ionic'
public safety ; and he hoped that the proprietol;7etation
rapport their executive in resisting attempts at. cit,plo9.
by subordinate servants as to whom they should u'"'
(Cheers. different
The re) port was then read, and unanimously diffepven
After a number of questions had been asked by re'
proprietors, to all of which satisfactory answers w"
it be
turned,
It was then moved by the chairman that the
tv.eoP: were
printed and circulated ; after which several queesute.,
put, respecting the capital account, by Mr. Dun tilt', Aber,:
and by other proprietors as to the Trent ValleY,
a_s toren_
deen and the Caledonian lines, all of which were 'iti tbe
The Chairman stated that if anything was 4°lr:ravie'
Aberdeen Company it would be a mere working
ment. Char,
reply to Mr. T. Roberts, of Manchesteirvt;;st
Inds
man stated that the works for the East an
it as
Docks line were being made, and that he regardet
most important link in connection with the compan_ere o "
was an independent company, and this comp Y "
subscribers to it.
The report was then unanimously peeseod; _,Aividethtl!
The Chairmanropased the resolution t pron,
the rate of £3.10s per £lOO share, and sP__e_nuslyadoPte"
tits for the other shares, which was unanel%;
Thp divlden4 will, be payable ukon