The Express.
London, England, 1856-08-01 00:00:00

ELECTRIC AND INTERNATIONAL TELEGRAPH

COMPANY.

The ft/entrant halt-yearly puma meeting of
the proprietors of this company was -held yesterday at the
offices of the company, Feaader'smourt, Lothbury ; Major-
General WYLDB to the chair.
From the balance-,beet for the half yea sadist 30th Jane,
it appeared that the capital of the company was 854,4801.
Is. 91., which has bee. expended, incept 32,2281. 2s. 31.,
the Waimea at the bankers; 29,0601. the value of store.,
and 2,1865. 'notifies in band. The revenue amount showed
a total receipt for misers, subscriptioas, and melano-
ma of 78,6161 le. Bd., and the expenme, including 2.0741.
for interest on debeeture debt, astound to 63,4081. 14s. 2d.,
leaving • benne* is hand of 24,90 W. 7.. Bd. A dividend of
8 per cent. would like 22,8321. lie., leaving a balance in hand
of 8,8771 Os. 7d.
The Cmaramut said be had very few observations to
make. The baluse-sheet spoke for itself. He °moldered
it very satisfactory ; it showed the °motioned prosperity of
the sompagy. The item of spars rues showed a. allutoi
Matsu since hat year of 9,0001., which was Ganged by
an amalgamation with the accounts of the Inter-
satinet Company which bad beta effected. The whole
property of that company had bun pet dolma 114 the cost of
coastractim, which was stated at 11,0001., bet this was, in
pease at fast, the spare stores left alter the construe.
Mo. was emoted, sad they were sow placed wader their
proper hood, sad. in visit of feet, there was a Mastics
of nearly 2,0001. tunes last yeas in the amount of
span stores. The Moreau of these items arose from laying
a ootsiderable portion of the telegraphist line with new ma-
larial, and oho from their having theme:lly repaired
the Gable to Holland, which bad been loping by
anchors. He bad no reason, with regard to their feature
prospects, to suppose that the musses of the next half-year
would exceed those of the last, wakes the requirement, of
the public necessitated the extension of the line, or as in-
crease la the stations, which might induce them to make •
profitable outlay of capital. The receipts were in-
growing, those of the last bait-year considerably exceeded
those of the half-year before. The mooed half was
always the best, and if they went on in the way they had
commenced this half year, they would have every reason to
congratulate themselves on the prosperity of the c num.
From the engineer's report it appasted that daring the ban-
yan the elootrietelegreph had be.. extended over 781 miles
of entirely sew line. TIN 'south of wire greeted was 469
miles of which 274 miles were for railway, and 186 for oom-
eaercial purposes. The minus at the present time grog se
lolls est—Massie of Hee, 6.303 ; wire, 28,3623 ; [timber of
instrussats, 2,042; bells, 641 Telegraphs had bees con-
structed ea the following railways :—Perth and Deoiteld,
Nayland extension (South Wale.), Altos end Andover
branches (Beath Wasters), Salisbury branch (Wilts and 8.-
menet). Minor works had been dime for other railway
companies, principally for the purpose of sigulling.
The only commercial work of any importance had
bus the construction of • direst wire Lou Loa-
the to Hall, oio Great Grimsby, including a submarine
cable two miles to length across the Humber. Telegraph.
were in antes of erection en the Forth and Clyde Railway,
and Wilts and 8 merest broach. A eiommunicatim was
also befog established between the But and West India
Docks and the Load., office. With the exception of the
extension of the wires to Nayland, the commercial works in
progress were gait° asisaportast. Three of the Dutch sub.
marine cables were repaired and now in use, and the fourth
had begs picked up and was now ben( coiled oa board at
Lowestoft and would in a few days be agate submerged.
Judging from their appearance, their durability was likely
to be very considerable. One of the Irish cables was still
oat of repair, as alto one of the Isle of Wight wires. Ie
conclusion, the chairman moved that the statement of
snouts be received and adopted.
Mr. RAWSON asked for some sit 1112141011 of ILL Item of
24.1261. Id., for safari's and wages. He thought it ought
to be given somewhat more in detail.
Mr. CHADWICK, a director, said there were 677 stations,
and the salaries and wages of the clerks and other, were
comprised to this item.
After some dbeussioe, in the more; of which there was
a pretty general espresaloa of opinion that the scoosate
should contain some further particulars with regard to this
item, and also with regard to another item of 9,414/. for
maintmer et, the motion was put and carried.
The CHAINHAN then moved that a dividend be declared,
at the rate of 6 per cent. per annum.
Mr. Rawson moved an amendment, that the dividend be
7 per cent., which he said weld be declared, if they did not
maintsio to lugs a reserved tend.
Mr. BIDDIR, • director, mid it was asesewy they should
have a working capital of 9,0001 or 10,0001., if for no other
purpose, in order to truism the bungee. of the 'mousy in
mossy orders, which was mach increasing.
Mr. G. Walton spoke at some faith in support of the
amendment.

Oa a show of hands the amendment wu lost, sad the
original motion carried; and the meeting wound up with the
usual voted thanks to the chairman.