The Sun.
London, England, 1855-02-23 00:00:00

COLONIAL.

SUGAR—British Plantation has been in limited request,
but at firmer rates. Barbadoes good yellow sold at 36s Gd
to 38s, and ord to good at 33s to 36s per cwt.
EAST INDlA—Bengal has been dull at 27s 6d to 31s for
low and mid date. Mauritius was quiet, at 37s Gd to
38s Gd for very fine yellow, at 34s to 37s for good to flue,
at 31s to 33s 6d for low mid, and at 25s 6d to 30s 6d for
brown.

COFFEE—III Plantation Ceylon the dealings have not
been large, but steady rates have been current ; at auc-
tion, f fine ord and low mid pale mixed brought 51s to
64e 6d, fine ord 495, good ord mixed reds 40s to 40s Gd,
triage 40s to 49s and peaberry 52. to 50s. Native has
been at full quotations, good to fine ord realising 46s to
475. In foreign very little has been done.
RlCE—Transactions have been limited, in consequence
of the higher prices asked. Bengal good mid white went
at 14s 61.1 to 15s, white at 13. 9d to 14s 3d to arrive, and
geed white has been taken in atlss per cwt.
RUM—The market has ruled dull.
TEA—The public sales have passed off heavily, and
common congon has been sold at 9d per lb. Scented
orange pekoe advanced ld per lb.
Limo—The auctions have progressed with more spirit.
The ['better kinds of Madras and Knrpah were 3d per lb
dearer, but the ord sorts 2d to 4d lower.
SALTPETRE—CaIcutta has been in request, at 21s to 24s
for 14. i to 8 per cent refraction, but the total operations
have not been large.
TALIOW—P.Y.C. has been quiet, at 55s Gd per cwt en
the spot.
GREEN FRUIT—The severity of the weather is having
its effect on consnmption. The arrivals of oranges are of
a limited character. Two cargoes from St. Michael, sold
by Keeling and Hunt, sustained the advance obtained
last sale.

RAILWAY INTELLIGENCE.

LONDON AND NORTH-WESTERN
RAILWAY.—(THIS DAY.)
Tho half-yearly general meeting of the proprietors
of this company was held at noon to-day, at Euston

station.
The Marquis of CIANDOS, chairman, presided ;
and in addressing the meeting observed, that in
placing before the shareholders the accounts for
the half-year ending December 31st, he was de-
sirous on the part of the directors of laying before
them one or two points in connection with them.
It would have been perceived that the result of
the half-year indicated a considerable increase
in the amount of traffic carried over the line,
but n©t a corresponding increase on the balance
of profit accruing. Two or three causes had
within that period combined to affect the working
expenses, particularly in the locomotive and mer-
chandise departments. In connection with the
latter there had been an increased rate of wages
paid, which had begun to affect them during the
preceding half-year. They had had also to con-
tend with a continually increasing traffic, week by
week, whilst, at the same time, the arrangements
made for the accommodation and delivery of that
traffic at the termini and for which estimates had
been sanctioned were not complete. With regard
to the locomotive department the disbursements had
been augmented by an increase in the rate of wages
generally and by the large number of persons em-
ployed, and by the advance in price of some articles
used. With respect to the permanent way depart-
ment the arrangement which had been in existence
for two or three years, for its superintendence and
construction, by the company's own officers, in-
stead
of by contractors, had proved most satisfac-
tory in its operation. He was happy to say that
not only was this an economical arrangement,
but the state of the roads and the permanent
way had been much improved. On the
revenue account there had been a reduction in
some of the charges for legal and Parliamentary
expenses, the result of the negotiation concluded
two years ago with the Great Western Railway for
the suspension of those new lines involving Par-
liamentary contest, which he thought would carry
them through the present session without the
necessity for Parliamentary opposition. The pro-
prietors would naturally have had, their attention
drawn to the increase which had taken place upon
the capital invested during the past four or five
years, and the results in the half-yearly receipts.
But they must remember during that time there
had been much competition against them, and the
effect of now lines in diverting the traffic had even
induced a ruinously low rate of charges, which had
had a material effect upon the receipts quite dispro-
portioned to the large amount of traffic ; whilst
at the same time the class of goods of a large and
bulky nature had also increased. He hoped, how-
ever, that the first of those causes to which he had
alluded was now at an end—he meant the ruinously
low rates of charge. (Hear.) He believed it was
for the benefit of the public that the rates received
by railway companies for the conveyance of mer-
chandise and passenger traffic ought to be such as
as to leave the proprietors a fair remuneration ;
otherwise the public could not expect, and indeed
would not find the work performed properly, or
even with safety. (Hear.) In reference to the
estimates submitted for a further outlay upon the
capital for extensions and improvements at various
stations and termini. The noble chairman
remarked that they were by no means heavy,
as they only amounted in the aggregate to 33,0001.
He then passed on to notice the fact that one or
two bills were now before Parliament, in the pro-
secution of which the Company was engaged—one
of them being for the North Staffordshire Amalga-
mation. These bills, if approved of, would be sub-
mitted to the directors, and fully explained at a
special meeting to be called for that purpose.
After alluding to the great and sudden diminution
in the traffic returns which had taken place
since the commencement of the year, which
circumstance the noble chairman attributed
to the war and the consequent high rate
of taxation and stagnation of business
throughout the country, but principally to the
inclemency and severity of the weather during
flint. nor; ; and afbor " I.”‘n flll5/".". rc'
marks upon the prospect before them of no Parlia-
mentary opposition, the noble chairman concluded,
amidst applause, by calling upon
Mr. BOOTH, one of the secretaries, to read the
report, which has already appeared in The &viz.
After a short discussion the report was adopted
and the dividend declared. The meeting then
separated.

BRISTOL AND EXETER.
The 37th half-yearly meeting of this company was
held yesterday, at Bristol ; Mr. J. W. Buller, the chair-
man of the company, in the chair.
The Secretary, Mr. J. B. Badha'u, read the report.
The statement of accounts showed a share capital of
1,996,100/. ; a perpetual preference 4 per cent stock of
709,3131. ; debenture deb':., 379,155/. ; and temporary
loan, 10,0001.—together, 3,594,561/. The gross pay-
ments have been 3,535,080/., leaving a balance of
59,4881. The revenue for the half-year has been
167,828/. ; and the gross expenditure, including duty,
rates, and taxes, 85,361/. ; leaving a balance of 82,467/.
After the payment of debenture and preference capital
(amounting to 37,423/.1, there is a disposable balance of
53,377/. The dividend was at the rate of 4.1 per cent.

per annum.
The CHAIRMAN said they would have seen by the re-
port that the accounts which were presented to them
that day differed in a very important particular from
those which the directors had had the honour of sub-
mitting to them on a previous occasion. There was no
part of the expenditure of a railway company which was
more important than that of the sum which was is be
expended on the maintenance of the permanent way—
(hear hear)—and from the time that the railway bad
passed into their hands it had been the anxious desire
of the directors to spare no expense in order that the
permanent way might be put into a thoroughly effi-
cient state. But it could not be concealed that the

original construction of the line was in many parts
defective. It was also true, and it was natural to
suppose, that a line which was for some time in
the bands of lessees would not have been likely
to receive exactly the same attention which it
would have received had it been worked by
the proprietors themselves. When their lease termi-
nated with the Great Western Railway Company, and
the line reverted to their hands, a very considerable ex-
penditure was at once made on all parts of the perma-
nent way. That expenditare had since been continued,
and he thought the proprietors would find, on looking
back to the accounts for several half-years past, that
expenditure had always been on a very large and liberal
scale. He might state that the quantity of ballast laid
on the line during the last two years amounted to
220,000 cubic yards. The expenditure had also been
very considerable, for in the corresponding period of last
year the sun expended on the lire was 17,6421. In the
last half-year the expenditure was considerably larger,
amounting to the sum of 23,8601., the largest expendi-
ture that was ever made on the lino in any one half-year.
But in the present half-year they would see the expendi-
ture on the line account amounted to 27,6211., being
more than 3,0001. in excess of the outlay on the last
half-year, and he thought it fair to assume that that
amount was more than the fair average sum which
would in ordinary half-years be expended on the line.
He thought he was justified in congratulating the pro-
prietors en the general prospects of their property. The
amount received upon revenue account was the largest
they had received in any half-year. (Hear, hear.) That
circumstance alone might not be considered so satisfactory,
if, on the other hand, it was thought that a greater por-
tion of those receipts had been absorbellar. (Cheers.)
After d\wiz the exhepeeurds.i-)
tore. The balance of the general account also the
lAafrtgeerstallthreiduhcaton had ever
the disposable
erha
dfor anyhaf
balance—a material
point for every company to look to—amounted also to
a larger sun' than in any previous half year—namely,
53,377/. (Loud cheers.) If they turned from the re-
venue account to the capital account, it was also a
subject of great congratulation. He had always di-
vided the capital account into two proportions—one he
termed the construction account, and the other the
stock account. With respect to the second part—the
stock account—that might now be considered as a closed
account. All those slabscriptions they wtre authorised
to pay to other companies had now been cornplet d ;
they had been defrayed by the last sum of 18,0001. paid
to the Cornwall Company in anticipation of remaining
calls of that company to which they were liable, which
made up the 90,0001. due to that company. They had,
also, since their last meeting, paid the calls of the So-
merset Central Railway ; and now, with regard to liabi-
lities from other companies, they were perfectly free front
any other claim. The construction account was nearly,
if not quite, as satisfactory. They did not possess plant
enough to convey the goods sent to their warehouses ;
they had neither engines, carriages, nor trucks adequate
to their amount of traffic on the line. There would there-
fore be a further expense necessarily incurred in rolling
stock and plant, and the directors had since their last
half-yearly meeting ordered six new engines and a con-
siderable number of carriages, as well as of trucks. But
with regard to other points, the construction accounts
alight be considered as nearly closed, andhe hoped they