The Sun.
London, England, 1855-03-29 00:00:00

SCOTTISH CENTRAL.

The half-yearly meeting of this company was held on
Thursday at Perth ; Mr. J. C. Dundas in the chair.
The report, an abstract of which appeared in The Sun,
was held as read.

The CHAIRMAN, in moving the adoption of the report,
said there was'great need or additional accommodation
for repairing the plant. They were now in the course
of remedying that deficiency, and they hoped that con-
siderable advantage would arise to the company from
the extension of the locomotive workshops which would
be shortly completed. He had always been a great
stickler for closing the capital account at as early a
period as possible ; but in a ,case where the additional
traffic on the line required additional stock to work
it he thought nothing could be more legitimately
placed to capital than the cost of that stock. There
was no part of their capital that would be so remune-
rative as that expended on additional stock. He then
explained that before the disruption between the Cale-
donian and the Edinburgh and Glasgow companies the
traffic of the Scottish Central was entirely at their
command ; they bad then no means of sending it by
the east coast lines, which formed the shorter route to
the south ; but that since the disruption had happened
they had entered into amicable arrangements with the
Edinburgh and Glasgow and east coast lines, from which
he believed they would derive considerable advantage
in having uninterrupted access to Edinburgh and Glas-
gow. He had no doubt that the arrangements they had
made would conduce to the prosperity of the companY•
They had at present every reason to be satisfied with
the result of their arrangements, and to congratulate
themselves on the general success of their undertaking.
After some discussion as to the propriety
the capital account at an early period, was statedo fc l s
thatn
since 1852, and that, if the like additional the goods and mineral traffic bad increased
progressive
e 0 per
increasecent.
the
aThey wouldou outlay
ycmust
should go on in future years,
be placed to the debit of capital. _ _
no-
thing to capital account which ought to be placed to re-
venue.
Resolutions adopting the report, and declaring the
dividend at the rate of 5 per cent. per annum for the
half-year, were passed, and the meeting separated.

SOUTH WALES MINERAL,e onapanyas w held The-half-yearly The-half-yearly meeting of this
yes-
terday at the Crown Hotel, Strand ; Mr. T. J. Badger
in the chair.
The report stated that the proposed arrangements for
leasing the line to the arlyncorrwg Coal Company re-
mained in abeyance.
The CuAirtmAx stated that the bill now before Par-
liament did not specify au terms for leasing the line,
but was merely permissive for enabling the companies,
if they thought proper, to enter into the arrangement.
When tL,..1 1,.jil came befuro them, in compliance with
the Wharricliffe standing order, the terms whuld be
L stated, Owing to the state of the money market, it NM

not expedient to proceed with the works. The works
of the tunnel were let, but not commenced.
Mr. PALEY hoped that it was not intended to tamper
with the terms for leasing the line which were stated in
the prospectus, as he bad been induced to subscribe his
money on the faith of their being carried out.
The CHAIRMAN said that at the first meeting after the
passing of the act the' shareholders had decided that it
was not expedient to accept those terms, on the ground
that it would be more advantageous to work the line
themselves.

Mr. PALEY believed that one-half of the shareholders
were landowners, and one-third contractors ; he thought,
therefore, there was not much chance for independent
shareholders obtaining anything like justice. The pro-
spectus stated that the line would be leased to the coal
company at 5 per cent. for two years, 5i per cent. for
14 years, and 6 per cent. for a further period.
The CHAIRMAN bad no doubt that the Glyncorrwg
Coal Company would lease the line on these terms ; but
the shareholders in Wales thought they would obtain
more by not leasing it.
After some further observations, the report was
adopted, and the meeting separated.