The Sun.
London, England, 1855-02-26 00:00:00

ROYSTON AND HITCHIN.

The half-year'y fleeting of this company was held
yesterday at the office, St. Helen's place ; Mr. W. Reed
in the chair.

The SECRETARY read the report, which gated that
there now remains to be exchanged the certificates re-
presenting 49,8561. stock. A bill has been presented to
Parliament by the Great Northern Railway Company
which enables the shareholders to receive, instead of the
rents new payable to them by the Great Northern Com-
pany, a fixed annual dividend or interest on shares or
stock of the latter company, such dividend being of the
same amount as the annual rents. The rent having been
received from the Great Northern Railway Company,
the dividend warrants will be issued forthwith.
On the motion of the CHAIRMAN, the report was
adopted. The retiring directors, Messrs. J. Arbouin
and J. Phillips were re-elected, and a dividend at the
rate of 6 per cent. per annum, less income tax and
I id. per share fur the expenses of management, was
declared.

A vote of thanks to the chairman concluded the pro.
ceedings.

NORTH-EASTERN.

The report of the directors of this company shte,s
that the amount expended on the Berwick section of the
undertaking amounted to 11,072,6031. ; on the York
section, 5,871,9971. ; and on the Leeds section,
2,618,513/. ; together, 19,063,183/. The amount ex-
pended on joint capital account to the 31st of I )ecember
amountel to 369,8031. The total amount upon which
interest and dividend have to be paid is 20,158,6171.
The expenditure on the construction account, compre-
hending liabilities on which interest is chargeable, as
well as actual payments is 20,204,7851. In addition to
this outlay, the company are lessees of the Hull and
Selby Railway, the Hartlepool Dock and Railway, and
the Great North of England, Clarence, and Hartle-
pool Junction Railway, at an aggregate of 108,0351.
The agreement with the Malton and Driffield Company
specifies that their liabilities on capital account do not ex-
ceed 160,0001. Of this 80,0001. ia provided by their deben-
ture debt, and there is held in shares in the Thirsk and
Malton line about 35,0001., which will participate in the
dividend payable out of half the net profits of that branch
to the parties who undertook to join with this company
in constructing it. According to the principle of the
amalgamation, these liabilities must be provided for
primarily by the North-Eastern Company ; but the in-
terest upon them is a first charge upon the share of net
receipts belonging to the Melton and Driffield section of
proprietors. The only work in progress is the Auck-
laud branch, which will probably be finished in about 12
months. The extension line, 1i miles in length, to the
town of Bedale, was completed on the Ist. of February.
For the renewal of the permanent way it is proposed to
set aside 40,0001. out of the revenue for the past half-year.
The sum divisible among the several classes of proprietors
amounts to 412,929/., and the separate revenue accounts
of the Berwick and York sections show that, after de-
fraying the preferential charges in each case, there
are the means of paying a dividend on the Berwick
stock and shares at the rate of 4 per cent. per annum
(19.3,065/.), and on the York stock and shares at the rate
of 2 per cent. per annum (44,245/.), leaving the
balances of 3,375/. and 2821. respectively to be carried
forward to the credit of the same accounts in the next
half-year. The balance on the half-year in favour of the
Leeds section of proprietors is 17,227/., less the sum of
7031. due for infar•Aut nn 0.11• in anivunnA eb;•
the directors recommend that a division at the rate of
6 per cent. per annum should be declared on the first and
second preference shares (preference quarters and exten-
sion shares 1848, Nos. 1,2, and 3.) The balance, 7,665/.,
will be reserved, as also the balance of 18,5061. brought
forward, after payment of the dividend, from the last
half-year's account.