The Midland Railway Directors have put out an unintelligible circular,
unintelligible, we mean with respect to its policy, but in- telligibly summoning a special meeting of shareholders for Wednes- day week, 15th January, at half-past one o'clock, to consider the matters contained in their recent circular. The directors add this enigmatic sentence—" In proposing so large an increase of capital, the directors had come to the determination of postponing, as long as possible, the prosecution of the new lines, except those which are already far advanced towards completion, distributing- over a more lengthened period the expenditure to which the com- pany is committed ; and they will be prepared, if necessary, to apply to Parliament in the Session of 1869 for an extension of the time at present allowed for the construction of works." Does that mean that the directors want their 5,000,0001. whether the new lines be suspended or not, or that they only want it if they be not suspended ? It may mean anything, or, in other words, it does mean nothing.
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