The Express.
London, England, 1863-02-02 00:00:00

THE EXPRESS, MONDAY EVENING, FEBRUARY 2, 1863.

WESTMINSTER PALACE HOTEL COMPANY
(LIMITED).-(TBIS DAY.)

This afternoon the eleventh half-yearly general
meeting of the above company was held at the building in
Proton-street, Viscount CHILSEA in the chair, when the
following report was read and adopted :
" The gross receipts for the half•year ended December
31,1862, have been 18,4081. Bs. 3d., the expenditure ban
been 11,999/. 18a. ld., and there remains aa net profit
6,4081. 10x 2d., which, after deducting 625/. interest on de-
benture loan, and also after charging the amount of
the respective reserve funds, via., 941/. 19a. ld., will,
with the amount carried over after paying the
last dividend, leave to the credit of profit and loss account
as available for dividend 5,620/. 16a. 6d. Out of this amount
the board have resolved to recommend a dividend at the rate
of 8 percent., per annum, clear of income tax, and to carry
over to the next half•year the balance, viz., 4201. 16e. 6d.
The renewal and repairs to the furniture during the past
half•year have amounted to 3011. 2a. 5d., which sum has
been charged to the reserve fund. It will be seen on re-
ference to the amounts that the whole of the new capital
has now been paid up. The company are importers of their
own wince, Aa, and in a position to supply the shareholders
and the public on advantageous terms."

TELEGRAPH TO INDIA COMPANY, LIMITED.
(THIS DAY.)

This afternoon, the half-yearly meeting of the
above company took place at the London Tavern, Sir Mae-
DONALD smell:Naos in the chair.

The report said the shareholders were informed at the spe-
cial general meeting on Dec. 12 that the government bed
decided to retain in their own hands the construction of the
Persian Gulf line ; and that, under these circumstances, the
directors recommended the shantholden to maintain and

week their Egyptian line, sad to swift the remit of the
and working of the Persian Gulf line before
d the course to be pursued. Since that period
the directors have found it necessary to discontinue for the
present the station at Jubal, on account of the risk which
was considered by the Penineuisr and Oriental Steam Navi-
gation Company to attend their vessels calling for telegrams.
Under these circumstancs the directors considered it the
best course in the interests of the company to
make arrangement, with Mears. Glees, Elliot,
and Co., the lessees of the Malta and Alexandria
cable, for working the Alexandria and Suez Hee
for four years from let January, under which the
lice is to be worked and maintained in good condition, with-
out any charge upon the company, by the lames, who are to
pay the company, so long as the Malta and Alexandria
cable motinues in working order, 2,5001. a year during the
term of the less. This will enable the board, unless any
unforeseen accident arises, to pay a dividend to the share-
holders during the next four years of from 4 to 5 per cent.
per annum. With regard to the Persian Gulf Telegraph
the directors have applied for and obtained the sanction of
his Highs... the Viceroy of Egypt to construct a line to
El Arial, with a view to completing the further oomrnuoi-
catica to Beyrout, Ismoderoon. or Aleppo, and so connect-
ing this company's line with Constantinople by one about to
be emanated by the Ottoman government from Diarbekir,
on the direct line from Constantinople to In lia, and also by
the Persian Gulf Telegraph with India, by which means a
portion, and in cam of accident to the direct line, the whole
of the India and China messages will par through
the company's lime. The board consider that
this short and inexpensive addition will materially
increase the value of the company's property ; but the corn.
piny hexing been formed for the special object of utilising
the cable laid down by the Red Sea Company from Suez by
Aden to India, the board are advised that it would not be
=Lt to this company to make the line Beyrout.
ee to
circumstances the directors recommend, as the
simplest means of effecting an object so vital to the interests
of the company, under the circumstances which have oc-
curred, that the branch line should be registered under the
act as a new and co-operative company, under which all the
shareholders in the Telegraph to India Company shall be
entitled to their rateable proportion of shares. This can be
done at a very small expense under the same management
Negotiations are in progress with Mears. Glass, Elliot, and
Co., for the construction, working, and maintenance upon
advantageous terms of the proposed now line, fall particulars
of which will be submitted at an early meeting to be speci-
ally convened for the purpose. The directors report the
arrival of the steamer Sir James Duke, with the cable on
board.

The CBAIILMAN having moved the confirmation of the
proposed lease of the Alexandria and Suez line to Messrs.
Glass and Elliot,
Mr. Jaws SZBAO made some remarks in favour of
winding up the concern, and proposed an amendment for
that purpose, which was seconded by Mr. Gonerr.
A discussion ensued, which was proceeding when our
report was despatched.