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CARMARTHEN AND CARDIGAN RAILWAY COM- PANY. A meeting of the shareholders of the Carmarthen and Cardigan Railway Company was held at the offices of the Company, 4, Great Queen-sireet, Westminster, ou the 20th instant, at which the following Directors were present:— J. R. Lewes Lloyd, Esq., chairman of the Company; the Hon. W. H. Yelverton, John Lloyd Davies, Esq., M.P., J. Propert, Eq. and amongst the shareholders were John Parry de Winton, Esq., the senior partner of the firm of Messrs. Wilkins and Co., bankers; J. Tolley, Esq., &c. Captain Lloyd presided. The Chairman briefly addressed the meeting on the po- sition of the Company, and referred to the report about to be laid before them as containing all such information as under the circumstances they were prepared to lay before the shareholders. The notice convening the meeting was read by the Se- cretary of the Company. The following Report of the Directors was then read :— Report of the Directors to the Third Half-yearly General Meeting of the Shareholders of the Carmarthen and Gar- digan Railway Company. In accordonce with the intimation contained in the Report presented in August last, and which was adopted by the meeting of shareholders, your Directors have had a survey made by Mr. Brunei, and have deposited a Bill for deviating the line between the Myrtle Hill Station and Llandyssil. This deviation will so much economise the construction as to enable the Company to diminish the capital from £ 300,000 to £ 200,000. The bill has already passed standing orders, and no op- position is anticipated to its progress. "The Directors have procured payment from Mr. Fitzwil- liams of the £ 8.000 for which a verdict was obtained at the last Summer Assizes, and also of X4,000, the amount of the deposit upon his shares. "They have also pursued their claim against the other shareholders in arrear, and are taking active measures for discharging the obligations of the Company, and placing the finances in a satisfactory position. A balance sheet is appended to the Report, showing the moneys already received and expended. So soon as the bill shall have passed, the Board hope to make arrangements for the immediate construction of the line. 11 (Signed) JAMES R. LEWES LLOYD, Chairman. "4, Great Queen-street, Westminster, 20th Feb., 1856." Mr. de Winton stated that before the Report was adopted he wished to be informed as to the necessity of making the deviation, as mentioned in the Report. Mr. Lloyd Davies, in reply, stated that it was with a view to save expense and to accommodate the town of Carmar- then. Mr. de Winton expressed himself satisfied with the ex- planation, and then enquired as to the estimated cost for procuring the act in the present session for the proposed deviated line. Mr. Baxter, the solicitor to the Company, stated that the total expense could not be named at present, as it depended upon whether there would be any opposition to the bill. Mr. de Winton then said he wished to be informed for himself and other shareholders as to several items in the balance sheet laid before them, and the cause of so large an amount being expended in advertising, &c. The Hon. Mr. Yelvtrton informed Mr de Win'on that these expenses were incurred before Mr. Lloyd Davies and himself joined the board, but that having been incurred they had no alternative but to pay them and that for the future the strictest economy would be used consistent with the proper working of the Company Mr. de Winton, upon looking through the balance sheet, said he found a sum of money charged for Directors' tra- velling expenses, and enquired what the amount was for. The Chairman having gi\en a satisfactory explana- tion, Mr. de Winton asked if the Directors had charged any- thing for their attendances, or whether their services were gratuitous ? Mr. Lloyd Davies stated that up to the present time they had not received anything for attendances, nor for the present did they intend taking anything, until the bill now before Parliament had received the Royal Assent, and the construction of the line commenced. Mr. de Winton enquired as to the further liabilities of Company, and called upon the Solicitor to state whether proceedings were taken against the defaulting shareholders for the payment of their calls now in arrear. On being assured by Mr. Baxter (the Solicitor to the Company) that every exertion and great vigilance was being used in adopting legal measures against the share- holders now in arrear, and that no exception would be made in favour of any shareholder, Mr. de Winton expressed himself perfectly satisfied with the explanation, and proposed "That the Report of the Directors be now received and adopted," which was se- conded by J. Tolley, Esq. J. R. L. Lloyd, Esq., and John Propert, Esq., the teUno? Directors, having offered themselves for re-election, Mr. de Winton moved, and Mr. Tolley seconded, "That the re- tiring Directors be re-elected." Messrs. Clifton and Tolley were elected Auditors for the shareholders. 0 On the motion of Mr. de Winton, it was resolved that the best thanks of the meeting be given to the present Directors of the Company for their exertions.

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