The Sun.
London, England, 1864-02-09 00:00:00

MID KENT.

The half- yearly meeting of this company was held yes-
terday, at the office, Duke-street, Westminster, Mr. W. A,
Wilkinson in the chair.

The re?ort stated that the agreement with the South-
Eastern Railway Company having come into operation on
the Ist of July last, the company are now in receipt of the
interest payable by that company on the Mid Kent Com-
pany's share capital, in lieu of the traffic earnings. The
rent charges and the half-year's interest on so much of the
debenture debt as was created for the purposes of the main
line being also payable by the Southern-Eastern Company,
in accordance with the agreement, the directors are in a po-
sition to recommend a dividend of 31 per cent. for the half-
year. The South-Eastern Company have introduced the
necessary bill into Parliament this session for the formal
completion of the agreement which now regulates the rela-
tions of the two companies. The works on the Addiscombe
Extension have been unexpectedly delayed by the wet
autumn and other causes, but the line is new practically
completed, and will be opened in the course of the month.
The capital account shows that £153,451 had been expended.

The CHAIRMAN, in moving the adoption of the report,
said they had made a very satisfactory agreement with the
South-Eastern Company. No one could grumble, as they
had obtained a fair interest on their outlay. He believed it
was an equally good agreement for the South-Eastern Ccm-
pany, The cost of the line was moderate, and from the ex-
isting traffic on the railway he thought it was quite as de-
s:rabic for the South-Eastern to have the line as it was for
the Mid Kent Company to sell it,
Mr. L. SIMPSON seconded the motion, and it was carried
unanimously. A dividend at the rate of 31 per cent. for the
past half year was declared. Captain Edward©, the retiring
director, and Mr. Room, the retiring auditor, were re-
elected.

The CHAIRMAN said they were obliged to keep up the
direction of the company until the bill passed.

The proceedings concluded with a vote of thanks to the
chairman and directors.

GREAT SOITTIIERN AND 'WESTERN.

The report of the directors of this company states that
£224,226 had been received for traffic durinz the half-year
ending the 31st of December last against £217,712 for the
corresponding half of 1862, showing an increase of £6,544.
Out of the net surpias revenue for the half-year of £93,639
the directors recommended that a dividend at the rate of
4a per cent. per annum be paid to the proprietors on the
consolidated stock of the compan, leaving £8,319 to the
credit of the next account. The Irish South-Eastern Rail-
way, from Carlow to Kilkenny, became amalgamated with
this company on the Ist July last. The branch from Ros-
crea to Nenagh was opened for traffic on Oct. 5, but, owing
to the unfinished state of the stations and approaches, has
not contributed much to revenue ; unexpected difficulties
have prevented the completion of the line to Birdhill, but
it is now in a very forward state. The company had been
reluctantly obliged to cease working the Bagnalstown. and
Wexford Railway, between Bagnalstown and Ballywilliam,
as in its present incomplete state the receipts were insuffi-
cient to pay the expenses. The directors have entered into
amicable arrangements with the Grand Canal Company ;
and also for through booking of goods and passengers with
every portion (~1 the London and North-Western Railway,
the Cork and Waterford steam companies being parties
thereto ; all of which, they trust, will insure that harmony
and unity of action so essential to the development of rail-
way traffic. The capital account shows that £5,652,416 had
been expended, including £142,824 for the purchase of the
Irish South-Eastern Railway. The revenue account for
the half year ending Dec. 31 shows that £226,094 had been
received, and £100,928 expended, leaving a balance of
£125,166, to which is added £1,559 from the preceding ac-
count, making an available sum of £126,725, out of which
£33,086 has been deducted for interest on loans and prefer-
ence shares, leaving as above £93,639.