The Sun.
London, England, 1852-10-15 00:00:00

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The half-yearly nem' meeting
held yel►terdey, at ,e -14-0-don Tavi
str*et, Captain S" iherkdemy-chk ,
when the repor" as unanimously adopted. le di"-,
videud declare a,4 2/. pt,r 'shal-e free of income-tax,
but a sharcheider,(Mr. Ridgway) contended that,
looking at the profits, the rate of distribution should
have been larger. In answer to this, Mr. Shepherd, the
deputy-chairman, who presided, stated that the di-
rectors desired to exercise prudence in their manage-
ment and to place the undertaking on a thorough
stable basis before they increased the dividend. They
bad not yet completed their fleet of vessels, and there
were also other arrangements to be perfected. After
some general observations, the dividend and accounts
were then agreed to. Subjoined is an abstract of the
report :

[PRICE SD.

tcurrent
resulty eoafradi
xo noteßserapazr b
voyages
e sof
insteade act
thaatTfohre
periodtwhoerckoirnrgesacocnolduinntgforthe drab half-year of, the
pfiersntd
ihtaulrfeomf lastoa of 1805cflo.
four,maP comparison
ascosonni
n•waii
thent hs
which had
additional receipts and ex-
gaged in Transatlantic
of larger shispis,ned;
their o f
h sea;dur
expr
ostensive
ecey 5"
beanmi.
ev
cee ne
necessary
engagementa ornry:
eor
vtc a
previously
oe Moreover,
, mn
batefil
the
yeri
byrender such comparison still more
increased consumption
purposes,chdese circumstances have, of course, had
tain the present rate of speed, and the higher
charge for- coal freight, arising
3 0i on These
both sides of the account; but it is satis-
factory from scarcity of
the result shows, on the six months, an
38,4361., while the additional
expenditure is only 35.9781. Respecting the latter itmay
be proper to explain, that to meet the increased risk
from the large increase of the company's fieet, it has
been considered expedient to raise the aura annually
v
e
i
placed to the credit of the insurance fund from 25,0004
afr:mu:: augmentationistpgeoprlrayi influencectooeaat
in receipts of
to 45,0001, and the additional 10,0001. for the first half
of this year is accordingly charged. The expenditure for
provisions' has been considerably augmented by the
additional voyages performed, and by the greater num-
ber of passengers conveyed. The charge for general
service and stations' has been increased by enlarging
tke company's premises at Southampton to carry on
more extensive repairs of ships and machinery con-
sequent upon the Brasil and River Plate communi-
cation, and also by an outlay _ upon the wharfs at
St. Thomas ra.774 Jamaica. Adverting to the credit
side of the account, there is a much greater re-
ceipt under every head of 'freight and passage money,'
outward,' intercolonial,' and homeward, affording
evidence of the success that continues to attend the com-
pany's operations. The Conway, after undergoing re-
pair and receiving new boilers, was dispatched to the
West Indies as an extra ship on the 11th of September,
preparatory to being placed upon the new experimental
route between the Spanish Main, Jamaica, Nassau. and
Savannah, intended to be commenced on the 22d of
next month. With referrence to irregularities in the
arrivals of West India packets, it is questionable if they
can be altogether avoided, where the combinations are
so intricate and so depeadent upon each other. On the
West India Mail service the company's ships touch at
no less than twenty-eight different ports, and at all hours
of the day and night, involving considerable risk, and
frequent unavoidable delays; whereas on the Brasil and
other direct routes, comprehending single voyages
across the ocean, there is little or no risk of detention
from circumstances beyond the possibility of control,
and hence it may be observed that the ssrvice between
England and the Brazils has been performed throughout
with the most perfect regularity. R-specting the West
India line, however, the directors confidently anticipate
that when the proposed arrangements shall have been
completed, by which largest class ships will be em-
ployed exclusively between Sopthampton and St.
Thomas, greater dispatch and punctuality will be at-
tained, and the general comfort of passengers mate-
rially promoted. With a view also of accelerating the
intercolonial service between Sr. Thomas, the Pacific,
Ocean, and Mexico, two ships specially suited for those
particular branches are now in progress of construction.
The Panama Railway continues to progress rapidly.
The loan made to the proprietors by this Company hav-
ing fully answered the purpose, and the railway stock
having risen to a premium, it was considered expedient
to dispose of the debentures hold as security, and a sale
has been effected, realizing a profit of 7,0631., at the
same time retaining to the Company the site allotted to
it at Maazinolle Island, whither workmen and materials
have been already sent to construct the necessary whelk*
and premises. In conclusion, the directors recommend a
dividend for the first half of the current year at the
usual rate of 2/ per share, free of incems-tax.
WORKING ACCOUNT FROM IST JANUARY TO 30T11 JUNE,
1852.
DISBURSEMENTS.

B. d.

Coals:—Freight and all charg"..es;
Wages •••
Provisions ...

... 75,232 1 10
... 25,892 17 11
... 46,886 5 0
... 7,804 10 5
... 4,412 5 1
... 13,438 17 7

Stores ... ... ...
Port charges and pilotage
General service and stations
Coal sacks, Sc. ... ...
Office and law expenses ...
Salaries ... ... ...
Insurance ... ... ...

... 404 16 9
... 5,988 10 0
... 22,500 0 0
... 14,253 12 4

Surplus ...

217,878 19 2
-. 103,112 12 11

RECEIPTS.
Goverbinent contract
Freight:—,
Outward ...
Intereolonial..
Homeward

£320.991 12 1
:1-‘O4-810

... £23,362 3 4
... 3,516 16 10
... 40,669 13 6

67,548 13 8

Patsage money:—
Outward ..
Intercolonial..
Homeward ..

... 47,480 16 4
... 19 020 14 11
... 51,941 7 2

118,442 18 5

£320,991 12 1
" The following is s list of the company's fleet, in.
chiding the vessels in course of construction:—
La Plata, 2,404 registered tons, 1,000 horse power.
Magdalena, 2.943 registered tons, 800 horse power.
Orinoco, 2,901 registered toss, 800 horse power.
Parana, 2,943 registered tons, 800 horse power.
Avon, 2,069 registered tons, 440 horse power.
Clyde, 1,841 registered tons, 430 horse power.
Dee, 1,849 registered tons, 440 horse power.
Great Western, 1,775 registered tons, 420 horse power.
Medway, 1,895 registered tons, 430 horse power.
Severn, 1,886 registered tons, 440 horse power.
Tay, 1,858 registered tons, 430 horse power.
Toviot, 1,744 registered tons, 450 horse power.
Thames, 1,889 registered tons, 430 horse power.
Trent, 1,856 registered tons, 430 horse power.
Conway, 895 registered tons, 260 horse power.
Derwent, 794 registered tons, 260 horse power.
Eagle, 630 registered tons, 250 horse power. •
Esk, 232 registered tons, 60 horse power.
Prince (iron), 398 registered tons, 200 horse power.

Atrato (iron) (building), 2,720 tons, builders' measure-
ment, 800 horse poa•.%r.
Solent (building), 1,781 tons, builders' measurement,
400 horse power.
Wye (building), 750 tons, builders' measurement, 180
horse power. _

IRONMASTERS' QUARTERLY MEETING;
WOLVERHAMPTON, OCT. 13.—The usual quarterly
meeting of the ironmasters of this district was held here
this afternoon. The attendance not only of those actu-
ally engaged in the trade, but of buyers from London,
Liverpool, and all parts of tho country, was more nu-
merous than for a long time past, and afaer a full discus-
sion of the circumstances of the trade, there seemed to
be a general concurrence in the view that the recent rise
in the price of iron was fully justified. Very large
orders were offered to-day by English cJusumers and
merchants, and although iu some instances they were re-
fused by the largest makers in the anticipation that a
further advance may take place before Christmas, others,
who have less faith in the continued pressure of foreign
orders, accepted these offered to-day rather freely.
Up
to the present time the ironmasters have derived little,
if any advantage, from the recent advance in the price,
most of them having large unexecutcd
orders at the old
price, which are yet unsatisfied. Pig iron is scarce, and
the demand being large and stooks low, prices are not
only firm, but another advance is anticipated. Accounts
of the manufacturers
said, projecting
to-daypereropjeaciclungah
f nwrit.thetr dhaatvpaunnecetuin-
ality for which this district proverbial. The coal.
masters are, it i
the price of that commodity, for which the present de-
mand is enormous.

THE NEW CHANCELLOR.
OCT.. 14.—1 t is Dow generally understood
that
to be appointed to present the new
Chancellorxhre°l4 delegacy the
. .
with the instrument of las election, and to
assist at the private installation of his Lordship, will be
received by Lord Derby, en Thursday, the 21st inst.
The authorities of the -University have suggested, and
the Chancellor has concurred in the propriety of the
vuggestion, that as the remains of the late Chancellor,
the universally-lamented Duke of Wellington, ire still
unburied, the usual banquet on this occasion should not
take place, or at all events be deferred to some future
period.

DREADFUL 6LI.IERT ACCIDENT.—An accident by
which three men were killed occurred on Friday, at Dow-
lais. From an inquest which has since been held on the
bodies, it appears that the deceased men were in the act
of descending the shaft of the pit in which they were en-
gaged when the " bucket" struck against the aide wall of
the pit, and so severe were the injuries they received in con-
sequence of this collision that all three expired in the course
of the day. The inquest is adjourned for the production of
further evidence as to the real cause of the accident.
CHANCERY. STAMPS.—As already stated, documents
bi ne
e Actw-
-1 &
stamped are to be used in the Court of Chancery instead of
money payments. Further, itis dBe7c)la,rtehdatbiyt the same
a
(15th and 16th of Victoria, chap.
tul for the Lord Chancellor to direct any of the officers of the
Court of Chancery whose duties may be diminished in con-
sequence of the substitution of stamps for money payments
or otherwise to act, under the directions of the Commis-
sioners of Inland Revenue, in the sole and distribution of all
or any of the stamps to be used. Should it be inconvenient
for any officer of the court to act, then the Commissioners of
Inland Revenue may appoint a person or
o. persona
ny tooffiseelelrthoer
other
personsame,and t o allow a discount or
guilty of fraud or wilful neglect in relation to
stamps, whereby fees are lost or evaded, is to be liable to
dismissal.
A meeting of the shareholders of the Victoria
Docks has been appointed for the 29th inst., to consider the
propriety of applying to Parliament for power to extend the
original plans and to raise a further share capital of 400,0004