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

THE SUN, LONDON, FRIDAY EVENING, SEPTEMBER 2 1864.

BAIL W,

:GENCE,

GREAT WESTERN.

WEST CORNWALL.
The half yearly meeting was held on Wednesday at Pen-
zance—Mr L. Vigurs in the chair,
The report statel 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, aLnounting to .£703,
£1,035 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 Penwithera. These were
now completed. The balance standing to the debit of this
account was £1,266, which the directors recommended
should be written 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 180—and, with a view to
comply with the Parliamentary obligation to do so, the
board had already instructed their engineer to commence
the relaying of the line with broad-gauge sleepers.
The engineer's report stated that the works on the railway
were in good condition, and the permanent way continued
in good order.

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

WHITEI-1.9.-VEN J-C.NCTION.
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 wocd 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 LUMB seconded the motion, which was carried una-
nimously.

Captain FISHER moved that a dividend at the rate of Ms
per share, less income-tax, be deelami on the original shares
of the company. This was equal to 15 per cent., and he
congratulared the directors upon the manner in which they
had improved the position of this line, which in the outset
was beset with difficulty. 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. DIXON 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
Lonsdals for his conduct in the chair.

WHITEHAVEN AND FURNESS JUNCTION.
The half yearly meeting was held at Whitehaven on
Wednesday—the Earl of Lonsdalo presided.
The CHAIRMAN, 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 71 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 more 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. LIN now seconded the motion, Which was agreed to.
Mr STEEL, N.P., moved that a dividend at the rate of
15s 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 MrsGRAVE seconded the motion, which was carried.
The retiring directors and auditor having been re-elected,
Mr R. GREEN, of Leeds, moved a resolution authorising
the directors to take steps to make a line flora some conve-
nient point on this company's line to join the Cleator line
at or near Egremont.
Mr J. B.WILsox seconded 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 CHAIR3IIN, 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 obtaining 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.

The half yearly statement of accounts of this company to
31st July last, has just been issued. It shows that the re-
ceipts on shares and stocks for the Great Western (original
line) amounted to £16,220,802, on those of the Oxford sec-
tion to £3,268,375, on the Newport section to £1,376,944,0n
the Hereford to £563,199, on those of the West Midland to
£1,319,164, on those of the South Wales to £3,450,537, and
on joint account £2,600; making together £25,900,621 re-
ceived on ordinary and preference shares and stocks in the
company—the total amount created being £27,293,775. The
arrears amount to £6,755, the calls not yet made to 39,529,
and the amount of forfeited and unissued shares to
£1,346,871.

The amount received on loans on debentures in respect of
the capital of the Great Western original line is £11,574,435;
in respect of West Midland capital £889,433; and in respect
of the South Wales capital, £l,2lB,o2l—total, £13,681,939;
which added to the £25,900,621 raised on shares, makes a
total of £39,582,560.

The capital expenditure in respect of the original Great
Western and Shrewsbury lines amounts to £27,996,945, in-
cluding subscriptions and disbursements for other under-
takings to the amount of £'2,265,909; the expenditure on
account of the Oxford capital amounts to £4,341,171 ; on
the Newport capital to £1,507,861; on the Hereford capi-
tal to £792,713 ; on account of the West Midland capital
to £563,363 ; on account of South Wales capital to
£4,570,438, including £128,680 subscriptions to other un-
dertakings, and the expenditure on joint capital account up
to the 31st of July last to £291,301, including £40,590 sub-
scriptions to other undertakings—total, £40,066,790, leav-
ing balances against capital cn temporary loans of £484,230.
The revenue account for the half-year ending the 31st
of July last shows that £1,€78,350 had been received from
all sources, and £763,742, cr 46.466 per cent., expended in
working the traffic, leaving a balance of £914,608. Oat of
this is deducted £82,785 kr rent charges, £50,727 for joint
interests, and £5,000 for :?arliamentary expenses ; £4,812
for expenses of Kennet and Avon Canal, £7BO for Stour-
bridge Canal, and £1,014 expenses of Stratford Canal—
together, £145,118, leaving £769,490 to be divided
in the proportion of £566,903, or 73.6725 parts to the Great
Western (original) ; £1.10,252, or 156725 parts, to the
West Midland ; and £62,335, or 10.7 parts, to the South
Wales, Each proportion is dealt with separately by the
three sections, and the result is that for the Great Western
(original) there remains £124,377 available for dividend on
the ordinary stock and shares, being at the rate of 3 per
cent. per annum ; fer the West Midland ordinary stocks,
£4,048, available at :he rate of 21 per cent. per annum on
the Oxford stock, and at the rate or 11 per cent, per annum
on the Newport stock ; and for the Soutti Wales ordinary
stock £41,229 available for a dividend at the rate of 31 per
cent, per annum, for the past half year, ending July 31.