The Sun.
London, England, 1864-09-27 00:00:00

SCOTTISH NORTH•EASTERN.

The half-yearly meeting of this company was held at
Aberdeen on Thurslay, Mr Stirling in the chair.
The report, an abstract of which nppeared the The Sun,
was taken as read.
The CHAIRMAN said he had very great pleasure in moving
the adoption of the report, because he mght safely say it
was a satisfactory one, and this notwithstanding that they
had suffered a large loss by the opening of the Highland
line from Perth to Inverness. Nevertheless, owing to the
prosperity of the district they were able to show an increase
in the receipts of about £3,000, while the working expenses
were only £1,039 more than for the corresponding half of last
year. £2,400 had been expended in the renewal of tires
alone—an expenditure which he was sure the shareholders
would approve. Upon the general expenses there had been
a reduction of upwards of £l,OOO, It was very satisfactory
for the directors to be able to offer the shareholders an in-
creased dividend upon the old Aberdeen stock and on the
Scottish Midland stock, and to maintain the dividend upon
the Dundee and Arbroath stock. He should feel extremely
disappointed if the directors should hereafter be obliged to
propose a smaller dividend than that now proposed (Hear.)
The report was then adopted, and the dividends recom-
mended therein were declared, on the Scottish Midland
stock, at the rate of 5 per cent. per annum—on the Aber-
deen stocks, at the rate of 3i per cent,, 6 per cent., and 7
per cent. per annum on the preference shares, and on. the
Aberdeen Ordinary Capital Stock at the rate of l rer cent.
per annum—on the Scottish North-Eastern Preference
Stock, at the rate of 41 per cent. per annum—on the Dun-
dee and Arbroath Preferential Stock at the rate of 6 per
cent. per annum—and on tho Dundee and Arbroath Ordi.
nary Steck at the rate of 71 per cent. per annum.
Messrs. G. Birnie, A. Davidson, and G. Thompson, jun ,
were re-elected directors of the company.

The meeting was then made special, and it was agreed
to purchase a short line of five miles in length to Carmyllie
Quarries for £12,000, rails and plants included, from Lord
Dalhousie. It was also agreed to subscribe £25,000 to the
capital of Cricff and Methven Junction line.

A voto of thanks to the chairman and directors concluded
;he proceedings.

FORTH AND CLYDE.

The report of the directors states that £1,758 had been
expended on capital account during the past halt year,
chiefly for land and the construction of the Dalmonach
branch, which was now neatly completed. The whole of
the No. 2 preference shares had been subscribed for, and a
consider able amount had been paid up by the chairman and
directors in advance of calls, which had enabled the com-
pany to pay off a portion of the sums due for engines, car-
riages and workshops, bearing a high rate of interest. This
would considerably lighten the interest account for the
future. The revenue account showed that £7,556 had been re•
ceived for the half-year ending the 31st of July, and £3,822
expended, leaving a balance of £3,734. Out of this was de-
ducted £1,288 for interest on debentures, and 1850 for
interest on bank credits and bills, leaving a balance of
£1,596. The revenue account, as compared with that of the
corresponding period of last year, showed an increase of
£3OO, and a decrease in the working expenses of £398. Out
of the clear balance of £1,596 the directors recommended
the payment of the half-year's dividend in full on the first
preferenCe shares, at the rate of 5 per cent. per annum,
amounting to £1,391, also the payment of £5O for waggon
working and repairs, and that the balance, £155, be carried
to the next account. The rolling stock had been kept in
efficient repair during the past half-year, and the permanent
way had been properly maintained. and was in good condi-
tion. The traffic from the 31st of July to the 10th inst.,
being six weeks of the current half-year, showed an increase
of £230 as compared with the corresponding perioa of last
year, and the directors believed that with careful manage-
ment, and the development of the traffic from all sources
that the proprietors might look forward to better prospects
in future.

DUMFRIES AND LOCKERBIE.
The report of the directors states that the revenue for the
six months ending 31st July last amounted to £G,183, of
which the sum of £4,313 was traffic receipts. The expendi.
ture, including £1,435 for working expenses, had been
£4133, having a balance of £2,054, out of which the direc-
tors recommend a dividend at the rate of 4 per cent., leav-
ing a balance of £254.