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

WEST CORNWALL.

The half yearly meeting was held on Wednesday at Pen-
zance—Mr L. Vigurs in the chair,
The repert stated that there had been an increase in the
net receipts, amounting to £1,503, while there had been a
decrease in the merchandise traffic cf £783, This was to
some extent caused by the season having been unfavourable
for the production of early vegetables, which affected the
quantity carried. The general revenue account, after the
payment of fixed charges, including interest on debentures,
&c., showed a balance of £2,748, of which, after paying a
dividend on the preference shares, amounting to £763,
£1,985 remained. The proprietors would bear in mind that
in their last half-yearly report the directors stated there
would be a further charge on the general revenue account
for renewals and repairs of the rolling stock and works
damaged through the accident at Penwithers. These were
now completed. The balance standing to the debit of this
account was £1,266, which the directors recommended
should be wri:ten off. Notice had been served on the com-
pany by the Cornwall Railway Company to lay down the
broad gauge , in pursuance of the provisions of the Acts of
Parliament, sessions 1846 and 1850—and, with a view to
comply with the Parliamentary obligation to do so, the
board had already instructed their engineer to commence
the relayingof the line with broad-gauge sleepers.

The engkeer's report stated that the works on the railway
were in good condition, and the permanent way continued
in good order.

The adoption of Clio reports was moved by the CHAIR•
MAN, seconded by Mr, OSE, and carried.
Votes of thanks to the chairman and directors were
passed, and the meeting separated.

WHITE HAVEN JUNCTION.
The half•yearly meeting was held at Whitehaven on
Wednesday—the Earl of Lonsdale presided.
The CHAIRMAN said he had great pleasure in asking the
shareholders to approve the report, because the accounts
were clear and satisfactory. The traffic had increased to
an unusual amount, the increase arising chiefly from the ac-
tivity in the iron ore mines. To the facilities afforded by the
railway his lordship attributed much of that increased
activity in the iron ore trade. There was every chance
of that prosperity being continued, for iron was now sub-
stituted for wood in every department. The defences
of our country were now iron instead of wood. His Lord.
ship concluded by moving that the report and statement of
accounts be received and adopted.
Mr LT.TMB seconded the motion, which was carried una-
nimou•sly.

Captain FISHER moved that a dividend at the rate of 30s
per share, less income-tax, be declared on the original shares
of the company. This was equal to 15 per cent., and he
congratulated the directors upon the manner in which they
had improved the position of this line, which in the outset
was beset with diflh Referring to the numerous short
lines in the west of Cumberland, he drew attention to the
importance of united action among them. If an amalga-
mation of those companies could be effected it would, he
believed, be attended with the best results.
Mr T, C. Dxxoe seconded the motion, which was carried.
The retiring directors and auditor were re-elected, and
the proceedings concluded with a vote of thanks to Lord
Lonsdale for his c3nduct in the chair.

WIIITERAVEN AND FURNESS JUNCTION.
The half yearly meeting was held at Whitehaven on
Wednesday—the .7,4'arl of Lonsdale presided,
The CHAIRMEN, in moving that the report and statement
of accounts be received and adopted, congratulated the
shareholders upon the great step in advance they had made,
so as to be able to pay 7i per cent. The line passed through
a thinly-populated district; but here again, as with the
Whitehaven Junction, the iron ore had been their friend.
Some new works were required, but they would not involve
the expenditure of much capital. To provide a snore direct
and convenient route for ore from Cleator to the south a line
to Sellafield or Nethertown had been suggested, and the
opinion of the meeting would be taken as to the desirability
of this company thus easing the route.
Mr S. Lis Dow seconded the motion, which was agreed to.
Mr STEEL, .1;11,P,, moved that a dividend at the rate of
Ids per share, less income tax, be declared on the original
shares of the company, payable on the Bth of September.
The line had for some years paid a poor dividend, but it
was now in a prosperous state,
Mr MUSGRAVE seconded the motion, which was carried.
The retiring directors and auditor having been re-elected,
Mr R, GREEN, of Leeds, moved a re:olution authorising
the directors to take steps to make a line It om some conve-
nient point on this company's lino to join the Cleator line
at or near Egrersont.

Mr J. B.llTagoNseconded the motion,which was carried.
A vote of thanks to the chairman ended the proceedings.

••••••
BRISTOL AND NORTH SOMERSET.
The half-yearly meeting of this companY was held at
Paulton on Tuesday—Mr J. Colthurst in the chair.
The CHAIRMAN, in moving the adoption of the report,
directed attention to the considerable progress which had
been made with the undertaking, and referred to the advan-
tages which the company had gained in the last session of
Parliament in obtaininc, access to the proposed central station
at Bristol and to the new docks at the mouth of the Avon.
Mr SMITH seconded the resolution, which was adopted
unanimously.
A vote of thanks to the chairman, directors, and secretary
terminated the proceedings.

BRISTOL AND PORTISHEAD.
The half-yearly meeting was held on'Vednesday at Bristol
—Mr James Ford in the chair.
The CHAIRMAN said they were much gratified in having
completed the contract for the construction of the line with
Mr Treadwell, who they felt satisfied would complete the
works within the time specified. The Bristol and Exeter
Railway Company had agreed to work the line immediately
on its completion from Rownham to the junction of their
line. The approaching opening of the suspension bridge and
other causes would bring theca a large amount of traffic.
He thought the shareholders might justly congratulate
themselves on the present condition and prospects of the
company.

Mr E. CASTLE seconded the adoption of the report, and
it was carried unanimously.
The meeting then separated.

KESWICK, COCKERMOUTH, AND PENR;TH,
On Wednesday the half yearly meeting of this couoany
was held at Keswick, Mr T. A. Hoskins in the chair.
The Secretary read the report, It stated that notwii h-
standihg the great exertions that had been made they ha d
been unable to secure the completion of the line in time for
the slimmer traffic of the current year. This unexpected
delay had chiefly arisen from the great difficulty ex-
perienced by the contractors in obtaining the requisite num-
ber of hands. There was, however, no doubt that the line
would be ready for opening in two or threci weAs. The
Government inspector had been over the line, and it was
understood that some alterations would be required. The
engineer stated in his report that the Government inspector
had remarked that ho had never been over a line of the same
length in which the works were so numerous. The addi-
tions to be made would not delay the opening beyond the
secohd week in September. The expenditure amounted to
£247,558, leaving a balance against the company of £8,961.
The CHAIRMAN, in moving the adoption of the report,
said the directors felt disappointed tha t the line had not
been opened before. The delay was enti, -ely attributable to
the ecarcity pt labour. Ile new of nothi og now that cortld

occasion more than one or two week's delay in the opening
of the line. Next summer their hotel would be completed,
and he believed that the passenger traffic would be com-
mensurate with the accommodation provided on the rail-
way. It was his opinion that when that traffic was fairly
developed it might be enlarged to any extent. The best
assurance which he could give that the directors were not
alarmed at any additional cost which might have to be in-
curred was that they had doubled the amount of their shares.
Their prospects of remuneration had increased in a propor-
tion far exceeding that of any little extra outlay.
Mr I. FLETCHER, deputy chairman, seconded the motion,
which was unanimously carried.

After the re-election of three directors and an auditor,
the prcceedrngs terminated with a vote of thanks to the
chairman and directors.

BRISTOL AND SOUTH WALES UNION.

The half yearly meeting was held on Wedne,day at
Bristol•—Mr C. J. Thomas in the chair.

Mr L. BRUTON, the secretary, read the report, which
stated that on the Bth of this month the line would be out
of the hands of the contractor, and that the Great Western
Company would maintain the permanent way until Dec.
31 next at cost price, and thereafter at their own expense,
as provided by a special agreement.
The CHAIRMAN, in moving the adoption of the report,
said that the number of passengers had increased from an
average of 4,100 per week in 1863 to 5,800 per week during
the past half year. The goods traffic had not increased so
much as they had expected, but they looked for increased
receipts in future. The debt due to the bankers had been
reduced by £3,200, and the hotel company would in the
course of a month pay them £2,300. This, with other
items, would enable the directors further to reduce the debt.
Mr T. W. RANKIN seconded the resolution.
A discussion ensued, in which several proprietors depre.
cated the agreement with the Great Western Company.
The CHAIRMAN stated that no other company would
have given them such advantages as they bad from the
Great Western.

The report was adopted.
The meeting was then made special, and the forfeiture o,
certain shares for non-payment of calls was confirmed.

MERTHYR, TREDEGAR, AND ABERGAVENNY.
The half-yearly meeting was held at the offices, Aber.
gavenny, on Wejnesday,—Mr. C. Bailey, M,P., in the
chair.

The report stated that the requirements of Capt. Tyler
had been carried out as regarded the second section of the
line, and the railway was completed and opened to Tredegar.
The London and North-Western Company had paid the
half-yearly rent, and they continued to work the line in a
satisfactory manner. In order to pay off certain liabilities
it was proposed to make a call on the shares not paid up.
The capital account showed thati241,620 had been received
and £257,296 expended, leaving a balance against the com-
pany of £15,676.

The report was unanimously adopted, and a dividend at
the rate of 5 per cent per annum, less income-tax, was de-
clared for the half-year.
The proceedings concluded with a vote of thanks to the
chairman.