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 abstra:t of which appeared in The Sun,
was held as read.

The CHAIRMAN, in moving the adoption of the report,
said there was'great need of 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 had 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.roa wouldHe haedo ne od
odeoeutbot
thethat the
prosperityarrangements
and . with
congratulate
ofth they
company.had
They had at present every reason to beetosatisfied
the result of their arrangements,
ropriety of closing
After some discussion as to theripd,
themselves on the general success of thelF undertaking.
o it was stated that
the capital account at
increased
progressive4o peree
rceeanste.
since 1852, and that,
the goods and mineral
should go on in future years, the additional outlay must
ifa n
traffic
thed -bliapkdee
e Ho-
be placed to the debit of capital. They would One
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
ball-year, were passed, and the meeting separated.

SOUTH WALE'S MINERAL.
The half-yearly meeting of this company was held 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 Glyncorrwg Coal Company re-
mained in abeyance.
The CHAIRMAN stated that the bill now before Par-
liament did not specify any terms for leasing the line,
but was merely permissive for enabling the companies,
if they thought proper, to enter into the arrangement.
V-V hen the bill cams before them, in compliance with
the Wharncliffe standing order, the terms whuld be
I stated. Owing to the state of the money market, it was

net 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 had been induced to subscribe his
money on the faith of their being carried out.
The CEIAmarAN 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 jast:ee. 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 had 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.