The Dorset County Express and Agricultural Gazette.
Dorchester, Dorset, England, 1858-03-02 00:00:00

Itail33ag intrllismct.

BRISTOL AND Earrstc.

The half•vaarly meeting was held on Friday at Bristol.
Mr. J. W. Malian M.P., in the ?hair. . .

An abstract of the report and accounts have already
appeared.
The Chairman 'mid, that the report contained BO fall
an explanation of the accounts of the company, BO de-
tailed a statement of its present position. andel all cir-
cumstances inure particuierly affecting their interest;
and it entered also so minutely into the policy which the
directors recommended the proprietors to pumas, that,
perhaps, less than usual remained for him to say on the
resent occasion. He was aorry to le compelled, as at
the preceding halnearly meeting, to have to allude to a
continued diminution in the receipts both from peseta-
gen and goods, but he thought the diminution in pas-
sengers attribut..ble partly to a decrease in the number
of voldiers sent over the line aud pertly to the diversion
of this traffic consequent on the Art Treasures Exhibi.
tion at ILinclieder. He had no doubt that that
tion had mold materially affected not only their trafße
but also the trade of the different watering places in
South Devon. (Hear, hear.) With respect to goods,
they mast tram the principal diminution to the comps-
titles with the Great Wade= Railway, which, as every
gentleman was aware, had now a line to Yeovil, with an
extension to Weymouth, through which channels goods
were naturally diverted both from the city of Bristol
and also from the whole of the north of England.
(Hear, hear.) This was not a subject, however, of which
they could complain. He was happy to say that there
was no hostility between their company and the Great
Western, and is the latter had a line of their own over
which they could convey goods it was not surprising
that they availed themselves of it. The rates for goods
from the north of England had been reduced by about
27i per cent. These circumstances alone would amount
for the considerable diminution which had taken place
in the goods traffic. • But it was most satisfactory to him
to be able to state, as he was sure it would be equally
satisfactory to every proprietor to bear, that notwith-
standieig this considerable decrease both in passengers
and goods, yet the position of the company was most
gratifying, and that it presented in the accounts an ap-
pearance quite as favourable as on any former occasion.
(Cheere.)
Mr. Avery had great pleasure in mondial' the mo-
tion, and expressed the hope that the shareholders
would give the directors the support they now asked for.
He complimented the board for the judicious manner in
which they bad hitherto conducted the business of the
company.
Mr. Perry thought the chairman had not done fall
justice to the company. With the sum of P. 4,000 which
it was proposed to carry to revenue, and the large
balance they had to carry over, the directors might well
declare a dividend of 6 per cent. He did not ask for
a dividend of that amount, but he did think that they
should have one of 21 per cent, for the balf-year.
(Cheers.)
Mr. Alderman objected on principle to the transfer
of the sum spent on the now useless coke ovens to re-
venue. He proposed an amendment to that 'art of the
report, to the effect that the transfer of the sum of
£3,897 from the capital to the revenue account be not
allowed.

--slr:-erainger. seconded the amendment.
The Chairman said they might always know how for
this eystem oould be carried,—muuely, no further tdan
the proprietors themselves might allow. If the direo-
tors should find it necessary for the eztenidon of their
traffic) to make an outlay which would pay some 6 or 8
per cent. they would have no objection.
After some further discussion, the amendment was lost,
the show of hands being 24 for, sad 43 against it.
The original motion MU than carried.
The Chairmen then moved • resolution, declaring a
dividend at the rate of 5 per cent, per annum, payable
on the 2nd of March,_ _

ictiri moved an &mendicant, that ths clividend
he at the rate of zi per cent. for the half•year.
Mr. Grainger seconded the amenchntmt.
On • show of }lends there appears—for the amend.
went, 24 against, 48.
The originet resolution was then carried ansahnonsly.
The retiring directors, Messrs. W. D. Wills, W.
Fripp, and B. Fhipoen, were re-..locted, as was aka the
retiring auditor, Mr. F. F. Barnard, and • vets of
thanks having been passed to the cheirtuan, the pro
Gooding* terminated.

SOUTH DEVON.
The half-yearly meeting of this company was held on
Tuesday at Plymouth, Mr. T. Woolloomhe in the chair.
The report stated that the disposable balance for the
half-year ending the 31st of Deeember had amounted to
£22.145, from which, after the payment of preferential
charges, the directors prepared a dividend at the rate of
el Lis, per cent. per annum on the ordinary flock of
the company, leaving a balance of £2,506. The traffic'
receipt 4 amounted to t-70,406, while those of the corres-
ponding period of the previous year were £71,914. The
working expenditure had been £35,027, as compered
with £35,506 in the seine half of 1856. The high rate
of interest which urevailed until within the last few
weeke bus prevented the lone of any consioerelile
amount of the ad litional share modal created in July ;
but the directors ere now desirous of diaposing of it to
the extent authorized, and they consoler these shares to
offer a most eligiirle investment, i 11,4111111111 ar they bear •
preferential di v ideud, g lia ra Mead at time rate of bier tent.
per annum until the fdli of Marili, 1865, sort thereafter at
41 per cent, in perpetuity. During the pest half-year the
alterations of the Sutton Harbour Branch have beencom-
pleted, and the branch has been reopened for traffic. It
is with much regret that the directors advert to the
damage done to the Plymouth Great Western Docks by
the gale of October lest, and to the difficulties with
which the Dock Company has since had to contend in
providing for the reparation of that damage. With re-
ference to the Cornwall and to the South Devon and
Tavistock Railways there is every meson to believe that
the works are proceeding with all possible despatch. It
I, proposed to work the passenger traffic of the Dart-
mouth and Torbay Railway, at • charge of 58 per cent.
upon the gross receipte when the line ii opened to
Paurnton, at 45 per cent when opened to Churston
Ferrers, and at 40 per sent, when completed to Dart-
mouth, for a period of seven years from ouch comple-
tion. The entire management and maintenance, with
the exception only of maintenance under particular
circumstances along the csacort, will devolve upon this
company.
The Chairman said the traffic on the line was in •
very satisfactory position, considering the disarrange-
ment which had been oocasioned to all railways by the
oommercial crisis which had for some time past pre-
vailed, and but for this prevsiling distress it was proba-
ble the traffic would have increased in the seine ratio as
heretofore. He intimated i 2 months since that the
proprietors must prepare for • general reduction of divi-
dends owing to the holders of half shares coming in
participation of dividends with the holders of whole
shares. There was one subject, however, which might
comfort them a little. Their local traffic amounted to
73 per oent, of the whole—about four-fifths leaving
about one-fifth to be obtained in various parts of the
line open to competition, and for the fifth they should
in • general light stand • good chance. That consider-
ation was satisfactory, inasmuch as it showed that the
principles on which the line was laid out were sound,—
vit., that of taking the present route in preference to •
shorter one, as now they went through the largest
amount of population, and took tire largest aniount of
traffic. He found that the decrease in respect of pas-
sengers amounted to £876, and on goods to £766. The
decrease on goods being time in proportion infinitely
larger than that on the passenger traffic proved that the
decrease arose from the general disarrengeineut of the
commercial transactions of the country. With regard
to the Cornwall Railway, the bridge at Rehash was pro-
ceeding with much more rapidity than was contemplated
sonic months ago; the second tube, it was believed,
would be ready in the course of the present year; and it
would be • most important subject to that company, as
well IA to the South Devon, to men that line at as
early • period as possible. He could say the same in
regard to the Tavistook line; be had not been over
it, but he was toll the works were proceeding with
cenaiderable despatch, and in a very satisfactory
way.
Mr. D. Derry seconded the motion for the adoption of
the report
After some observations on the Parliamentary charges
the report was received and adopted, and a dividend
at the rate of £1 13e, per cent. per annum was de-
clared; Messrs. Derry awl Prbliiain were re elected;
and also Messrs. Evans and Lookyer, the auditors.
A resolution in favour of assisting the Greet Western
Dock Company was passed, and the meeting sopa-
rated,