The Liverpool Standard and General Commercial Advertiser.
Liverpool, Merseyside, England, 1845-08-05 00:00:00

and Hastings Railway to the South-Eastern Company, and
thus all further contention between the directorates will
cease. It was stated as a singular fact, that the rise in the
value of Consols during the last few years was the chief
cause of an amicable settlement of the claim between
these two companies. The money originally invested to
meet this claim was £327,000, which, with accumulating
interest and advance in value, now amounted to £390,000.
Of that sum the Brighton is to receive £340,000,
and the remainder will be returned to the coffers of the
South-Eastern Company.
LIVERPOOL AND MANCHESTER RAILWAY.-At the
meeting on Wednesday the report which was read con-
gratulated tha proprietors that the bill for the union of

the Grand JurictiOn, Liverpool and Manchester,-and
Bolton and Leigh Companies had passed the Commons.
It also stated that in consequence of the great increase of
traffic the *rectors as one of their first objects would
carry into effect the powers of their new Act to obtain a

large extension of accommodation both at Lime-street
and Edge-hill. The report alluded to the passing of the
Wigan, Bolton, and Bury Bill notwithstanding the oppo-
sition of this company. The number of miles run by
the engines in the six months just ended was 60,000
more ti.an in the previous year. The receipts for the past
half-year had been £l3-1,121 and the expenditure £65,610
leaving a profit upon the half-year ending the 30th of
June of £68,514. to which must be added the surplus
balance on the 31st of December last of £15,099, making
a disposable sum of £83,611. The directors recom-
mended a dividend for the half-year of 5 per cent. which
would amount to £73,144. and leave a balance of £10,468
to be carried to the next half-year's account. The shares
on which the dividend is payable equal 16,926 £lOO
shares, which, at £5 per share, is £84,630, less half.a-
year's interest at 5 per cent. per annum on £3B unpaid
per share on 12,090 £4O shares, being 19s per share, is
£11,485, constituting a nett dividend of £73,144. The
Chairman announced that letters had been received that
day from which it appeared that there was every proba-
bility the Amalgamation Bill would pass the Lords this
session. A dividend of £5O per cent. for the half-year
was declared.

MANCHESTER MIDLAND AND GREAT GRIMSBY
JUNCTION RAILWAY.—A short time ago, we directed the
attention of our readers to this project, having personally
a knowledge f the district through which it is proposed
to pass. We were right in considering that it would be
well supported, as we find that a highly respectable and
responsible proprietary has been secured. The preamble
of the London and York Bill having been proved, with the
exception of the branches to Sheffield and Wakefield, has
in our opinion greatly strengthened the position of the
Manchester Midland and Great Grimsby. It was an ar-
gument in one of Mr. Hudson's recent diatribes on the
London and York project, and particularly against the
hon. member of the West Riding (Mr. Denison), its prin-
cipal projector and supporter, that he has lost sight of the
interest of his constituents connected with the coal trade,
and done every thing to encourage their opponents in the
north ; and which we considered at the time a forcible and
telling argument, as it appeared to us to be literally true.
Thr Manchester Midland and Great Grimsby will, how-
ever, completely annihilate that portion of the disputa-
tion, should the hon. member consider with us that it
would be wise to secure the co-operation of the commit-
tee, as this project would not only give a much better and
less expensive communication with the town of Rother-
ham, and also with Sheffield, by the Sheffield
and Rotherham Railway, but likewise secure one of
the best coal fields in Yorkshire, we had nearly said in
England. It is a fact, the truth of which may be ascer-
tained by an inquiry of the parties connected with the coal
and iron works near Wortley, that there are thousands of
tons of coal buried there for want of a market, as it is only
that portion of the coal adapted for smelting iron which
is used ; the remainder, fit for domestic and many manu-
facturing purposes, is left in the pits, and will be for ever
lost. We venture to suggest the desirableness of an al-
liance with the London and York, as undoubtedly the mu-
tual interests and objects of both parties would be at-
tained. There has, we understand, been a strict inves-
tigation into the respectability of the applicants for shares ;
and from a conviction of its merits, we heartily wish suc-
cess to the undertaking.

GRAND JUNCTION RAILWAY COMPANY.—The annual
general meeting of this company was held at the Cotton
Sales-room, in the Exchange Buildings, on Friday, and
was very numerously attended ; John Moss, Esq., in the
chair. The report states that the income had been
£226,326, exclusive of an unsettled claim upon the Man-
chester and Birmingham Company of £2,894 10s. 9d.
The return exhibits an increase, in round numbers, over
the corresponding period of last year, of £12,200 in the
passenger department, and £18,700 in the merchandise
and live stock departments ; total, £30,900. A very
gratifying result, when taken in connection with the re-
duction in the fares. The company have conveyed
90,500 passengers, and 25.000 tons of goods more than in
the first six months of 1844; and it is satisfactory to add,
that the principal improvement is in the local traffic.
The expense of conducting the traffic has been £98,636
15s. 10d. leaving a nett profit of £129,689 Bs. 6d. on the
half-year, being £18,568 19s. 9d. more than at the same
period last year. From the nett profits of the half-year
the directors recommended that the usual dividend of £5
per share (X 2 10s. having already been paid for the first
quarter) be now declared, and that the surplus of
£15,796 Is. 6d. be carried forward to the reserved fund or
" rest," which will then amount to £45,473 6s. 3d. and
added to the depreciation fund, present a total balance of
£64,008 Bs. 10d. The amount of Sunday travelling was
Bs. Id. per share. The directors referred with regret to
the failure of their negociations with the London and
Birmingham Company ; they had not ceased to anticipate
a favourable issue, until all hope of adjustment was
finally dissipated by the unexpected union in February
last, between the London and Birmingham, the Man-
chester and Birmingham, the Trent Valley, and Churnet
Valley Companies. In the Trent Valley Railway, the
Grand Junction Company hold stock to the amount of
£277,780. The Churnet Valley project was lost. The
traffic between Manchester and the south has always
been over-estimated ; the total sum received by the Grand
Junction Company during the last half-year, for traffic
of all descriptions passing between any part of the Man-
chester and Birmingham line and London and Birming-
ham line, including London and Manchester, falls short
of £17,000, or less than 8 per cent, of the income. The
directors, after referring to the report of the committee of
the House of Commons relative to the necessity of afford-
ing to the Grand Junction a fresh inlet to London, said
that, with respect to their future intentions, one of the
most important was the shortening of distance between
Liverpool and Birmingham. Arrangements were com-
pleted for crossing the Mersey at Runcorn ; a branch
from the new line would proceed to Warrington ; a junc-
tion would be made with the St. Helens railway; and
the directors had agreed to become interested in the for-
mation of a railway from 'Warrington to Stockport. It
was intended to have proposed at the present meeting an
issue of new quarter shares; but the terms of the crea-
tion of the stock could not be determined until the amal-
gamation bill is decided. Under these circumstances, a
special meeting will be called for the purpose, so soon as
the session is over. The proprietors had to elect three
directors to supply the places of Messrs. Gladstone and
Sandbach. who retired by rotation, and Mr. Rosaell, who
had resigned. A vacancy having occurred during the
half-year. by the resignation of Mr. John Cropper, it had
been filled by the election of Mr. Patrick M. Stewart,
M.P. for Renfrewshire.—The Chairman said that the
state of his health had compelled him to announce to his
colleagues that he could no longer sustain the mental and
bodily exertion which the office of chairman demanded,
and he retired from that office at the close of this day's
proceedings; but it was not his intention to vacate his
seat at the board. He added—" As a matter of record,
I beg to state, that we have expended the sum of
£2,600,000, including calls, in the railways we have shares
in, and our property at the market price of the day is
worth, 13,329 in the Trent, £245,000; 2,000 in the Lan-
caster and Carlisle, £275,000 ; 2,000 in the Caledonia,
£lO,OOO. Our works at Crewe have cost £30,340. Our
surplus capital undivided is £64,000. Our stock of en-
gines, carriages, and waggons, are worth £250,000, leav-
ing for our stations on our roads, 102 miles, which are
unencumbered with debt, £1,625,000. We are able to
place £34,000 the last half-year, and to increase our re-
served fund. Ido not shrink from a comparison with
any other railway in the kingdom.—(Loud Applause.)—
The report was then adopted ; the dividend after the rate
of £2 10s. per cent upon the quarter was declared ; and
Gilbert Winter, Charles Turner, and Charles Lawrence,
Esqrs., were elected directors in place of those who re-
tired.--Mr. Lewin Mozley proposed a vote of thanks to
Mr. Moss for his indefatigable exertions as chairman of
the company.—Dr. Bickersteth seconded the motion,
which was carried by acclamation.—Mr. Moss briefly re-
turned thanks, and the meeting separated.