The Sun.
London, England, 1864-02-22 00:00:00

METROPOLITIN.

The report of the directors states that they have arranged
all matters in difference with the Great Western Railway
Company. The net receipts from traffic during the half year
up to the 10th of August payable by the Great Western
Company amounted to £6,787, and for the four months and
2 L days daring which the line has been worked: by this com-
pany to £20,654. The available sum for division among the
shareholders is £29,145. The directors recommend that a
dividend be declared at the rate of 5 per cent. per annum
upon the preference and ordinary stocks of the company,
leaving a balance of £1,312. The directors have resolved
on constructing the extension to Finsbury with four lines
of rails throughout, and sufficient land is being purchased
for that purpose. The proposed extensions of this company's
line from Paddington to Kensington and Brompton, and
from Finsbury towards the Docks, are to be constructed by
means of separate capitals entirely distinct from the present
authorised capital of the company, and to depend for their
return exclusively on their own earnings. The directors
call the attention of the shareholders to the proposed metro-
politan district railways by Mr. Fowler, their engineer, as
a comprehensive project promoted by powerful parties.
Upwards of 4,631,000 passengers have been conveyed over
the railway during the past six months. From the opening
of the line there has never been a sufficient plant to work it
adequately, and since the abandonment of the working by
the Great Western Company the supply of plant has been
so limited as to leave no reserve, and consequently no power
to augment the accommodation so much required. The
capital account shows that £1,670,340 had been expended to
the 31st December, leaving a balance of £71,966. The re-
venue for the half year amounted to £51,909, and the ex-
penses to £17,844, leaving a balance of £31,055.

CRYSTAL PALACE AND SOUTH LONDON
JUNCTION.

The report of the directors states that most satisfactory
progress has been made in the construction of the works
during the past half-year: The report of Mr. F. T. Turner,
the engineer, states that possession has been obtained of
nearly all the land required for the immediate prosecution
of the works at every available point. About one-third of
the total excavation in the cuttings has been completed, and
with a view to increase the rate of progress arrangements
have been recently made for disposing of the greater portion
of the heavy cutting near the Crystal Palace, independently
of carrying it through the adjacent tunnels, thus securing
to the company a more immediate prospect of are early open-
ing of the line. The brickwork in both the Crescent Wood
and Paxton tunnels has been carried on without intermis-
sion, and about one-half of the entire length of each has
been completed in a very workmanlike manner. The via-
duct at Peckham, the bridges over the various roads, and
all the requisite masonry are for the most part in the course
of construction. The expenditure on capital account was
£177,952.

MORETONIIAMPSTEAD AND SOUTH DEVON.

The fourth half-yearly meeting of this company was held
on Thursday, at Bovey Tracey—the Earl of Devon in the
chair.

Mr. Lloyd, the secretary, read the report, which stated
that during the last 6 months the works had favourably
progressed. The contractor had concentrated his men be-
tween Bovey Heath and Moretonhampstead, on which
length of the line several of the cuttings were in a forward
state, and some of them would be shortly completed.
The CHAIRMAN moved the adoption of the report, which
was seconded by Mr. WOOLCOMBE, and carried.

The retiring directors, Messrs. Coming and Wills, were
re-elected, and a vote thanks to the chairman closed the
proceedings.

LYNN AND HUNSTANTOY.

The half•yearly meeting of this company was held at
Lynn on Friday, Mr. L. Simpson in the chair.
The CHAIRMAN, in moving the adoption of the report,
said the directors proposed to declare a dividend at the rate
of 5 per cent. per annum, although the traffic of the line
had not yet been fully developed. The result showed that
cheaply constructed lines through agricultural districts, if
economically worked, would he beneficial both to their
promoters and the trunk line with which they were in con-
nection. The goods traffic which had already passed over
the line had exceeded the estimate, and would no doubt con-
siderably increase. The completion of the line now in pro-
gress from Lynn to Sutton would afford fresh facilities for
passenger traffic from Lincolnshire to llunstanton, and as
soon as additional accommodation for visitors was provide&
at that town he was sanguine that the traffic would be con-
siderably increased. The agreement with the Great Eastern
Company was now complete, and the directors were working
upon perfectly friendly terms with that company.
Mr, VALEXTINE, C.E., stated that ten good houses were
built at nuastanton last year, and that plans had now been
prepared for 20 others.
The report was adopted and the dividend declared ; the
r3tiring directors and auditors were re-elected, aud, £l5O

was voted to the directors,:together with thanks, which were
also extended to the officers of the company.

NEWTOWN AND MACHYNLLETH.
The half-yearly meeting was held on Wednesday, a'
Machynlleth; Mr. R. D. Pryce in the chair.

Mr. D, Howell, the secretary, read the report, which
stated that, under the arrangements with the Oswestry and
Newtown Company, the railway was worked as part of the
Cambrian system, and that the guaranteed dividends might
be declared of 5 per cent. on the preference shares and 4f
per cent. on the ordinary shares for the past half-year. The
Bill for amalgamation had been reintroduced this session,
in pursuance with the agreement with the Oswestry and
Newtown. To guard against delay in the completion of
the line from Machynlleth to Aberystwith, the company
were promoting a bill with a view to obviate such a risk, in
accordance with agreements entered into in 1861 with the
Manchester and Milford and the Aberystwith Welsh Coast
Companies. Preference shares under the capital Act of last
year had been disposed of to the amount of £68,550. leaving
£23,450 not yet subscribed for.

On the motion of the CHAnurAN, seconded by Mr.
FOULKES, the report was adopted. Dividends at the rate
of 5 per cent. per annum on the preference and 41 per cent.
per annum on the ordinary capital for the past half-year
were declared. Earl Vane was re-elected a director, and
Mr. Jones was re-elected auditor. The proceedings termi-
nated with thanks to the chairman and directors.