The Sun.
London, England, 1864-09-08 00:00:00

GREAT WESTERN.

Yesterday afternoon the half-yearly general
meeting of the shareholders in this company was
held at the Station, Paddington ; Mr. Richard
Potter, the chairman of the board of directors, pre•
siding. The report, the main portion of which have
been published, was taken as read. The Chairman
moved its adoption. He remarked generally on
the capital account, which had increased by the
sum of £121,900. The details would be found in
the statement which was in the hands of the
shareholders. The capital of the Newport line
had been increased by £18,400, that amount
having been spent in the completion of the
Aberdare branch. He was aware that tome
disappointment had been felt by the share-
holders in the Newport section, in conse-
quence of the smallness of their dividend, but the
increase in the capital account explained that
circumstance. The company were now running
1,205 miles of line. At this time last year the
number of miles was 1,157. The traffic of the line
had been most satisfactory, for, although it had not
increased in the same ratio as the London and
North.Weetern, the Lancashire and Yorkshire, or
the Midland, it must be remembered that the Great
Western traffic did not suffer in 1863 from the de-
pression of trade in Lancashire, as those lines did.
The removal of the trade in those districts had
given an exceptional impetus to the traffic of the
lines connected with them. He might remark that
the amount which had been received from the sale
of the "Metropolitan" shares, some eight or
nine months ago, had not been added to
revenue, but had been placed as a reserve in
the Great Western section, and would be available
for closing small sectional accounts that might be
necessary. The same remark would apply to profits
arising from the sale of a colliery is South Wales.
The amount for which the colliery stood on their
books would go to capital, which with the pre.
minus received would be carried to the reserve fund,
to be used for future purposes. The directors all felt
that the prespects of increase on the revenue were
extremely satisfactory. The Chairman then dwelt
at some length on what he termed the " foreign
relations" of the company, and the battles which
the company had had to fight during the
last session of Parliament. He could not
help saying that the company had suffered seriously
in Parliament from the by-law of the company passed
in February, 1863, and it was constantly held out
to Parliament that the Great Western had pledged
itself in opposition to all extensions. He suggested
whether that by-law might not probably he re-
scinded. The directors had every confidence that
in the course of two or three years they would be able
to declare higher dividends. Mr. Fenton seconded
the motion. After a few remarks from Mr. Adams, a
somewhat discursive discussion took place on the
accounts, after which the report was adopted. The
chairman announced that after providing for allfixed
and preference charges the balance of revenue
will admit of the payment of the following divi-
dends.—At the rate of 3 per cent. per annum on
Great Western Consolidated Stock, 21 on West
Midland (Oxford) Consolidated Stock, 11 on West
Midland (Newport) Consolidated Stock, 5 on West
Midland (Hereford) Stock, and 31 on South Wales
Consolidated Stock; leaving a balance of £3 904 ss.
sd. to be carried forward to the credit of the cur.
rent half year. A, resolution affirming these divi-
dends was agreed to.—A vote of thanks to the
Chairman and Directors closed the business of the
meeting: