The Sun.
London, England, 1855-01-01 00:00:00

DUNDEE AND ARBROATH.

The half-yearly meeting of this company was held on
Wednesday at Aundeo ; Mr. G. Armistead in the chair.
The report stated that a balance of 555/. was brought
from last account and added to the gross revenue of
14,5401., making 15,9851. From this was deducted
6,8041. for working expenses, and 1,2891. for rates and
taxes, leaving 6.992/.; out of which 6351. was deducted
for relaying a portion of the line, 6371. for interest on
loans, and 1,6671. for dividend on the 5 per cent. guaran-
teed stock, leaving a surplus of 4.0511. The directors
recommended a dividend on the 251. shares at the rate
of Y per cent. per annum for the half-year, amounting to
3.0001., and leaving 1,051/. to be carried to the next
tccount. There was a decrease in the receipts as coin-
pared with the corresponding period of last year of
6161 , and in the working expenses of 172/. The
goods . traffic hetween Dundee, and the Edinburgh,
Perth, and DtAidee line via Broughty Ferry, had
been withdrawn, and a decrease in the revenue was
the consequetii&. This decrease, however, It ad to
some extent been compensated by an improvement in the
receipts for passengers and general goods traffic. The di-
rectors were gradually removing the original rails, chairs,
and sleepers, &c., of the main line, and replacing them
with new and substantial rails, &c. The amount taken
out of current revenue for this purpose was equal to
12s. 6d. per cent. upon all the ordinary stock of the
company. The - revenue since the 31st of October
showed an increase over the corresponding period of last
year of 1061. A joint working arrangement had been
entered into with the Aberdeen Railway Company,
whereby this company's new goods station at Arbroath
and the Aberdeen goods station there are thrown into
one, and worked as a joint station for both companies.
This artangente;t came into operation on the Ist of De-
cember, and would be the means of reducing the work-
ing expenses. The new railway between the main line
and the Carmyllie district would be opened for traffic
about the end of January.

The CIAIRMAN moved that the report be adopted, and
that a dividend at the rate of 3 per cent. per annum be
declared for the half year.
Mr. WHITSON said they must endeavour to prevent
the depreciation of their affairs, and it was probable that
at the next meeting he should bring under their consi-
deration the propriety of devolping the traffic even en
Sundays, instead of having it swept away by the boats.
He did not see why they should not afford the earns
facilities on their line as those between London and
Brighton—places in which there was as much intelli-
gence and as much divinity as at Dundee or Arbroath.
Mr. FORREST complained that the accounts did not
show how all the money had been expended. There ap-
peared a deficiency in the revenue account of 9221.
Within three years 50,000/. of additional capital had
been expended on the line, being about 3,000/. per mile,
and a large increase in the traffic would be required to
render the outlay profitable. He concluded by moving
an amendment, to the effect that a committee of investi-
gation be appointed to consider and report on the affairs
of the company.

The CetinniAN said, the ledger war, open to any share-
holder who chose to examine it. He had no objection
to the appointment of a committee.
A long discussion ensued, in the course of which it
was stated that 6,000/. would be required for relaying.
the line, 6,000/. for a new station, and 3,0001. for sun-
dries, making together 15,0001., which would enable
them to close the capital at about 318,000/.
Mr. FORREST withdrew his amendment, and the mo-
tion of the chairman was carried unanimously.