The Liverpool Standard and General Commercial Advertiser.
Liverpool, Merseyside, England, 1844-11-05 00:00:00

GRAND JUNCTION RAILWAY.

On Friday a quarterly meeting of the Grand Junction
Railway Company was held, at the Cotton Sales'-rooms,
for the r ur pose of hearing a statement of the progress of
affairs during the past three months, and of declaring a
dividend. John Moss, Esq., presided.
The CHAIRMAN opened the business of the day with a
long address, explanatory of the state and prospects of
the undertaking. He expressed a hope that the Shrop-
shire gentlemen would adopt moderate counsels ; and
said that all the needful measures were being taken by
the Grand Junction Board for bringing before Parliament
the Shrewsbury and Wolverhampton, and also the Shrews-
bury and Stafford lines. He thought the course adopted
by the London and Birmingham Board in this affair had
not been such as they had a right to expect ; but, as they
had publicly, lately, shown on what they ground that
opinion, he should say no more now. He desired, how-
ever, to take this opportunity of disclaiming, for himself
and his colleagues, all intention to make any personal
charges against the chairman or any member of the
board. An injustice was done to them if any part of
their public statement was construed into an attack or in-
sinuation of any kind on any gentleman individually ; if
he were to add to it, it would only be to express the great
regret that the Shrewsbury party should have been, under
all the circumstances of the case, enabled to boast, at their
recent public meeting, that they had among the holders of
shares in their competing line the most influential of the
London and Birmingham Directors. (Hear, bear.) Un-
happily there had been, recently, a difference of opinion
between the London and Birmingham and Grand Junc-
tion Boards on other subjects, a full explanation of which
he did not deem it expedient at present to go into. He

Nov. 5, 1841•

would not even offer an opinion as to which party had
been right or which wrong ; but this he must say, that an
agreement made between the two beards, in July last, was
no longer in existence; that it was adhered to until the
London and Birmingham Directors had persisted in their
refusal to refer the matters in difference to the arbitra-
tion it provided, namely, to three of the shareholders
not being directors of the company. In the present posi-
tion of affairs, the course of the Grand Junction Board
would be defensive only. He could hardly believe that
parliament would allow new lines to be made running
parallel and close to theirs, practice having gone to prove
that the public cannot be gainers by such a plan. ge
thought, that, if any railway in the kingdom could be
considered safe, theirs was that railway ; and, in proof of
the siEc.rity of these opinions, he had, very lately, con-
siderably increased his interest in the concerts. (Hear,
hear.) Their receipts were most satisfactory. They had
lowered their fares, and given greater accommodation to
the public—(applause)—by adding second-class coaches
to first-class trains and by giving a third-class, with
covered carriage, at ld. per mile. (Applause.) 111,,,e.
Chairman concluded by moving that a dividend of X2l"
for the three months should be paid. He said
this would
leave a very handsome surplus, and he expected to have
a very flattering statement for the shareholders at Christ'

MRS.
Mr. ROBERTSON GLADSTONE Deputy-chain:ea-n I Se°
conded the motion, which was unanimously adopted. ,
I\lr. H. POTTS, of Chester, remarked. that, althougn
disputes had arisen between the respective companil)l
chick must be unfortunate for all parties, he had no that
whatever that the consideration given by the Grand June'
tion Company to the measure in dispute was given upon
mature judgment.
Mr. MOZLEY said, that the chairman had thought ON,:
per to address the proprietors on a variety of points whin'
were eminently important. The Grand Junction CO:
parry held, at a cheap rate, a very large and extended line,
and if, taking into consideration that what had been do;
three or four years ago in the infancy of railways eau. t
not be effected now, and if they were content to try schs
they had got, and to extend their line in every portion_.
if they reduced their fares and paid constant attention!:
the wishes of the public ; if, in fact, they anticipated tut
wants of the public, he flt quite confident they need nod
fear opposition from either the north or the south, 1r;
that there was in the Grand Junction Company that bge
bone which would carry them through to the line. (0;
bear.) With respect to the difference with the Loudon
and Birmingham Board, he thought he might say pub.
Belly what had been said privately, that on a careful
of several of the documents, there was no question
doubt that an agreement had been made for the nits
benefit of both parties, and that, if arbitration was to Le"
place at all, it should have taken place at the very identi-
cal point at which the parties had arrived. (Hear, beer,';
He was quite convinced that it was for the interest of t,,`l"
companies to cement a strong alliance, and that, by
tual good working and understanding, and also by shorten'
ing the distance between London and Liverprol, thel
should render every class and description of opposition
nullity. Applause. He considered, as a man of business:
that the differences between the two companies must eon
in a serious loss to both. He spoke boldly and plainly,
with the view of showing, that, if the directors of either
board were self-willed, or if any portion of either were
deeply interested in other concerns,—(hear, hear!)—he
carried the flag to rout them from their hold. ("up
cheers.) He prayed them to consider that there wer"
very large interests at stake, interests of the last importd
ance ; that, upon the faith of men of honesty and 0°
judgment, widows and orphans had invested their pre"
pert), in the concern ; and that anything like direct oppo-
sition between the two companies could only end in the
destruction of the means of this defenceless class of Per'
sons. (Hear, hear.)
Mr. RUTSON asked what foundation there was for sal"
ing the directors of the London and Birmingham Cow
panies were shareholders in the Shrewsbury line ?
Mr. SWIFT said he bad heard it mentioned at a meet-
ing in Wolverhampton.
Mr. RUTSON asked how the chairman considered the
agreement of July at an end ?
The CHAIRMAN replied, that, when the BirmingheT
Company declined to refer the matter in dispute,...tht
were informed that the agreement was at an end. There
was not any railway property in the kingdom which oe_
not injured by the differences between the Grand Junction
and Birmingham Boards. He was sorry he could note°
how it was possible to make any agreement with the Bir"
mic.gham Board more binding than the last.
Mr. MOZLEY here entered into some explanation 115 to
the position of the London and Birmingham Directors
with regard to the Shrewsbury line and their alleged in.
terest in that undertaking.
The explanation was considered somewhat satisfactory
The CHAIRMAN observed, that since they had written
to the London and Birmingham Board, to state that their
agreement was at en end, no answer had been returned to
their communication.
Mr. HARDMAN EARLE stated, that plans had been
prepared and notices lodged for the purpose of making o
railway from Crewe to Stoke by the Grand Juneti°ti
Company ; and that other parties would take up the line,
and make it to Stafford, so that the Potteries would have
as good a railway communication as could be wished.
The meeting separated at a quarter to three o'clock.