The Express.
London, England, 1867-08-30 00:00:00

BRISTOL AND SISTER.

On Wednesday the sixty-second half-yearly meet-
ing of the proprietors of the Bristol and Exeter Railway
Company was held at Bristol ; the Right Hon. Earl
DEVON, chairman of the board of directors, in the chair.
The report having been taken as read,
The noble CH.trau•ri, in moving the adoption of the
report, said during the last half-year they had paused
through& period of very considerable anxiety—an anxiety
felt more or leas deeply by all persona connected with rail-
way property. As regards the receipts from traffic, there
was an increase of 512/. under the head of passenger',
and an increase of 1,3011. under the head of goods and
cattle, and 160/. under that of parcels, horses' kc., and
under the bead of interchange of carriage stock there was
• considerable difference in their favour, consequent upon
the large additions they had made to the carriage stook
belonging to the company. Passing from pecuniary remits
to tonnage, it was gratifying to know that there was an
increase in the tonnage of goods of no lees than 20,0001.
The total increase under the head of traffic was 4,7591. ;
and he must take this opportunity, before he pissed on to
other points, and before he quitted the subject of traffic,
to state that as regards the traffic for the current half-
year, so far as these returns enabled them to form a judg-
ment, for the last eight weeks, up to the 25th of August,
the traffic returns showed an increase of upwards of
4,0001., or an average of 561/. a week. (Hear, hear.)
With regard to that which was to be set against
the traffic receipts—the working expenses—he should state
that the increase on the working expenses amounted to
850/.—an increase which he trusted the shareholders
would not think unreasonable, looking to the fact that
they were now running over eleven more miles—the
Chard line. Looking to the total receipts from all sources
of the revenue account there was an increase shown of
5,745/. The result was that thedirectors bad been enabled
to declare a dividend for the half-year at the rats of four
per cent. per annum.
Mr. M. Casne (deputy-chairman) seconded the motion.
The report and accounts were adopted unanimously,
after which 4 per cent. dividend was declared.
Mr. NASH thought that the directorate ought to be'
lessened, and that it would be good to bave some new
blood on the board.

The rote for raising 219,0001. new capital was agreed to.

SEVARN VALLRY.

The half-yearly meeting of shareholders was held
yesterday at the offices, No. 4, Victoria-street, Westmin-
ster; Mr. J. reasorti in the chair. The report stated
that during the past half-year a further portion of the
ass:..• of tl•e company had been realized, and appropriated
in reduction of the liabilities. Since the 30th June, the
forfeited shares which were authorised at the last general
meeting to be resold had also been disposed of, and the
direc:ors hoped that the proceeds together with the cam.
pany's other assets would be sufficient to meet the few
outstanding liabilities, and that they would be enabled by
the end of the present year to close the capital account.
From and after the 31st January next, the office business
of the company would be undertaken and carried on by the
Great Weitorn Railway Company, in exercise of the tion
eszelthem for that purpose by the West Midland and
Valley Railway Companies Act, 1862. The war-
rants for the dividend for the half-year ended 10th June
last, on the preference shares at 44 per cent, per annum,
and on the ordinary shares at the rate of 4 per cent. per
annum, would be issued immediately upon the reoespt
from the Great Western Railway Company of the requisite
moneys. The directors very much regretted the delay in
the issue of the warrants for the last dividend, which was
occasioned by the postponement of thepayment of the rent
due to this comps for the half-year to 31st December
last, but they ho that in future the proprietors would
receive their dividends with punctuality.
Tte CHAIRMAN, without making any comments upon
the report, moved its adoption.
The motion having been agreed to, and the dividend
declared, the proceedings terminated.
FURNESS RAILWAY.— The half-yearly general
meeting was held yesterday, at No. 14, Great George-
street, Westminster ; Mr. Ramsden, the managing director,
in the chair. The report stated that the receipts, with the
addition of the balance carried over last half-year,
amounted to 138,1871., 10e. 9d., and the working expenses,
debenture and preference share interest, to 103,192/. ILL
BgL; leaving a balance of 34,9911. 19s. out of which
the directors proposed a dividend at the rate of 8 per cent.
per annum. A large amount of capital expenditure,
exceeding 300,0001., on which a guaranteed divi-
dend of 5 per cent. was paid out of the revenue of the
half-year, was still unproductive, owing to the unfinished
state of the works. The Furness and Midland line was
opened in June, and the directors had reason to expect
a good return for the expenditure, besides the
increased traffic that must accrue to the main line and to
the Barrow Docks by more direct communication with
Yorkshire and the Eastern districts. The report, on the
motion of the chairman wu adopted, and the dividend
recommended declared. A resolution, authorising the
directors to raise by mortgage or bond the sum of 100,000/.,
under the powers of ,the Furness Railway Act, 1866, was
agreed to, and the proceedings terminated.
STRATFORD-ON-AVON RAILWAY.—The half-yearly
meeting of the shareholder of this company was held on
Wednesday ; Mr. Richard Greaves, the chairman, presiding.
The report was adopted, and a dividend of 7s. 9d. per
share beds ed,