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THE RAILWAYS. - The declension in the weekly traffic receipts on the several
lines must have struck our readers, - and this is particularly observable on
the Newcastle and Carlisle Railway, with which our city is intimately
connected, the fall on that line being something like £700 per week.  How is
this to be accounted for ?  We are informed that the falling off in the
traffic is to be attributed to the non-shipment of the Newcastle coal and
coke to Ireland.  The Wigan, Welsh, and Chester-river coal is displacing the
Newcastle in the Irish markets.  This is a new feature in the coal trade,
and one which was never contemplated when the Carlisle and Silloth Railway
was projected.  It was in respect of this traffic, as our readers will
remember, that the Maryport and Carlisle and Silloth Companies were at
issue, the latter Company looking to the Newcastle salt and coal trade as
the principle source of revenue on which they relied for making their line
remunerative.  We now see, however, that this traffic has taken flight and
wholly disappeared;  and its loss must have a serious bearing on the future
opening as well as prospects of the dock at Silloth.  The traffic on the
Maryport line is keeping up;  the loss of the Newcastle trasffic being more
than compensated by the increase of its own local traffic. We also observe
that the traffic on the Whitehaven Junction maintains its position.
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LONDON AND NORTH WESTERN RAILWAY. -  The following notice has been given: -
"The directors are prepared to receive applications for the issue of
portions of the Company's Perpetual Four per Cent. Debenture Stock, to be
inscribed in the books of the Company in the names of applicants without
payment of stamp duty or other expense.  The stock will be issued under the
authority of the London and North Western Railway Act, 1852 (No. 2), and the
London and North Western Railway Act, 1856, and of a resolution of a special
general meeting of the Company, held in conformity therewith, on the 13th
August, 1858.  The stock thus raised will be exclusively applied in
substitution of the debenture bond debt of the Company, and it will be
entitled to the same priority against the property and income of the Company
as the debenture bond debt, ranking before the company's stock and share
capital,representing upwards of twenty-five millions (£25,000,000), and will
be the first charge on a net income amounting last year, after paying
debenture interest and other charges, to upwards of one million one hundred
thousand pounds (£1,100,000).  this stock may be transferred in any amount
from £1 upwards, and the interest will commence from the date when the money
is placed to the Company's credit, and will be paid half-yearly on the 15th
January and 15th July.
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