The Sun.
London, England, 1852-02-24 00:00:00

the proprietors, and which will be brought into account
the
xf )
at the.next half-yearly meeting. A short line for form-
ing
h na
rn pto functionn with
line at
promoted by the London
and North-Western Company, with the cordial assent
er
of this company, has passed standing orders; and, look-
ing to the probabilities of the future, the directors trust
that a largo accession of traffic from various quarters
Oxford, rd,Worcester, and Wol-
verhampton
will'be brought 'upon the lino when connexions west-
ward, now projected, are finally carried out.
Mr: UPCROFT wished to know why the report had
not been circulated among the proprietors at the previous
meeting?
Mr. WATKIN said the reason was that the directors
did not consider it necessary.
same'
rMhre.t
iLcminec
ttrenAdLND:
that
aaplt smoi
moving
ihmn
ogp
had
taahi
dne esadedetonhpatt tihotenhreoe reportfp report
hr to br
oo
fpaoornrodt.,
saidha ct accounts
hnh
eat st
wouldhi
fadthneot
n ot beenh asve
proprietorsea t
cdtoeoms
erh
desired
otmo htah proprietors,
vee ae countryoapnyd of
fot thet e.
tend the meeting.
reportholding ent
the
future accounts
meetings
s en
sent to
shouldthe b
them some
be
done.day days priorH e
hadto
merely to state that the traffic on the line was pro-
creasing as well as could be expected, and there was a
great probability of its being further increased by"means
of the proposed extension line. It was particularly re-
quisite for the district through which their line passed
that there should be railway communication from the
west to bring the cattle and other traffic to it. On the
completion of the projected lines to the wee they would
have a large accession of coal and other traffic to their
railway.
, -
In reply to a question,
Mr. WATKIN stated that the amount of capital speci-
fied in the lease of the line was 1,245,0001.
Mr. UPCROFT thought that as the functions of the di-
rectors had nearly ceased there was no occasion to have
so many as 15 directors.
Mr. GLYN, M.P., explained that it was not desirable
to reduce the number of their local directors, as the com-
pany derived considerable advantage from their exer-
tion in promoting the traffic, and from their knowledge
of parties in the district through which the line passed.
The CHAIRMAN said that one-half of the board con-
sisted of London and North-Western directors, and the
other of local directors. It was of no consequence to
the proprietors of the Buckinghamshire Railway how
many directors were on the board, as they were not any
expense to them.
Resolutions were passed adopting the report, re-elect-
ing Admiral Moorsoni, the Hon. P. S. Pierrepont, Sir
H. Verney, M.P., and Mr. T. Young, the retiring di-
rectors ; electing Mr. W. Rawson a director, in the
room of Mr. R. Creed, who retired ; and re-electing the
retiring auditors, Mr. R. Carter and Major-General
M'lnnes.

The proceeding concluded with a vote of thanks to the
chairman and directors.

NEWPORT, ABERGAVENNY, AND HEREFORD
The half-yearly meeting of this company was held on
Friday at the London Tavern, the Hon. W. E. Fitzmau-
rice in the chair.

The report stated that the whole of the land for the
main line had been agreed for, with the exception of a
few small parcels, now in course of arrangement. A
new contract for the entire works of the line has been
let to Mr. J. Rennie, of Newport. The works are in
active progress, and (under the contract) are to be com-
pleted on the 30th of September, 1853. The directors
have completed the purchase of the Hereford tramroad
by payment of the balance of the purchase moneys,
amounting to 9,7291.; and the solicitors of the company
are engaged in completing the investigation of the titles
of the Grosmont and Llanvihangel tratnroads, and, as
soon as such titles are satisfactorily made out, those
properties will also be conveyed to the company.
The directors have concluded a working agreement
with the directors of the London Wand North-Wes •
tern Company, the leading provisions of which are
as follow:-1. When the Newport and Abergavenny
opening, the London and and the Worecstvr :and Hereford Railways are
complete for
North-
Western Company are to find all the, necessary plant
and to work the line of this company. 2. Out of the
first gross earnings of the traffic for each half-year the
Newport, Abergavenny, and Hereford Company is to
receive 10,000/., plus the ordinary charges for repairs,
and watching the line, and all rates and taxes. 3. After
these payments, the usual working expenses and inte-
rest on napital, employed in rolling stock, are to be paid
to the London and North-Western Company out of the
earnings. 4. The surplus profits are to be divided in
equal moieties between the Newport, Abergavenny, and
riereford Company and the London and North-Western
Company. 5. This agreement is to commence trona the
period when the line from Worcester to Hereford shall
be completed; the Bill for which is now before Parlia-
ment.. The directors anticipate that the sum of 500,0001.
will complete the line ready for opening. The capital
account to the 31st December last showed that 148,605/.
had been received and 116,3651. expended, leaving a
balance of 32,3401. The tramroads' revenue account
for the half-year ending the 31st December showed that
9831 had been received and 3881. expended, leaving
5951.

The CHAIRMAN, in moving the adoption of the report,
said that the arrangement which had just been entered
into with- the London and North-Western Company was
aneh as to far exceed his former anticipations of the pros-
pects- of the undertaking. The conduct of the directors
of the London and North-Western Company deserved
their hest thanks, as the arrangements made by that
company would enable the Abergavenny Compeny to
develop their tragic to an extent unknown at present.
`He congratulated the proprietors on the present position
of the 'company, and adverted to the time when there
wernonly‘three persons connected With the company
who wertenot anxious to have' it wound up, and they
would recollect that he was one of them. .It was the in-
tention of the directors to make a call of 57. per share
during the year, and when the borrowing powers of the
company came into operation there would be no dificulty
in raising the further amount of capital required. '
Resolutions were passed adopting the report; voting
600/. a-year to the directors for their future services, and
5001. to five of the directors for their past services; rais-
ing the salary of the secretary to its former amount,
namely 6002 a year; re-electing the retiring directors—
viz., the Hon. W. E. Fitzmaurice, Mejor Amsinek, Mr.
Budd, Mr. Reid, and Mr. Snow; and also re-electing
Messrs. Rogers and Ross, the retiring auditors.
-The proceedings concluded with a vote of thanks to the
Chairman.

AMBERGATE, NOTTINGHAM, 'AND BOSTON.

The, half yearly ; report of the directors to be sub-
spitted to the proprietors on Thursday states that the
traffic for the past half-year shows a decided increase
upon. that of the two preceding ones, notwithstanding
that the local excursion traffic has teen seriously in-
terfered with by the allurements of the Great Exhibi-
tion. The receipts for the half-year ending the 31et of
December last amounted to 9,1951., being an -increase
of 2,4711. over the corresponding period of 1850. The
increase of traffic has necessitated a further supplY of
rolling stock, and the agricultural produce with which
re
o f 2,240
- ;
to dispose the district abounds has also demanded an extension;
' foe it •he -nntorioun to al! parties acquainted with thr
locality that the traffic has not been developed in con-
.se.quence of the company not having the mean! to re-
naive or carry a large utaourit of traffic, which will
came upon the line as proper facilities are strordc;!.
'Tice accounts for constructing than line between Col•
wick and•Grantbam hare been sgreed and Letth--d ; t). ;?
'only liability being an acceptance under the seal of the I
company for 8,6004 duo in May. The directors Se.
commend
in-
come-tag, b© declared. The directors have taken steps
to e tohia t a
the
he dividend
surplus
lands.ofi. per
Theer share,
forfeiturefree of i 1
shares will be submitted for confirmation.
The
capi-
tal account to the Bth of February states that
had been received and 623,9991. expended -5,861/.
, leaving a
war" of 1,8261. The revenue account showed
11,481/. had been received, and 4,208/, expended leaving
a balance of 7,2731. 9

Saturday the half-yearly meeting of this com-
pany -
LOWESTOFT.
On
was held at Lowestoft; Mr. Edward Lathes in the
chair.
The CHAIRMAN drew the attention of the meeting to
a recommendation of the accountants, _ that the sums of
2,926/. should be handed over to the Norfolk Company
and the capital account closed. One other point he
wished to touch upon, the opinion he had formed, that
before Lowestoft could become a harbour of commerce,
it must establish its value as a harbour of refuge.
Captain Andrews concurred with him in this opinion,,
that, having made their port one of refuge, they might
would
thhee no
nree ansfonab Jy
commerce.look forwardlitey hadto
it
nh e
theirtime
_i
harbourt
facilities for the transit of foreign '
Nor-
which must prove a valuable auxiliary
to
encluded by
folk and Eastern Counties Railway.
lieconcluded
in their
congratulating the meeting on the large increase
traffic, cattle to
thLeoLigdreon

The re
should be paid over the capital account of the Norfolk
commendation of the accountants,: that 2,226/.
end Eastern Counties Railway Company, was then put
and agreed to.
The balance sheet, to the 31st of December, showed
that 322,2261. had been received and expended, being
2,226/. more than the amount guaranteed by the Nor-
fork Company. The revenue-account for the half-year
showed that 8,341/. had been received and 6,6191. ex-
pended, leaving a balance of 1,722/.
Captain ANDREWS then entered into a long statement
respecting the capabilities, advantages, and prospects of
Lowestoft harbour. The receipts in 1851 were nearly
double abuse in 1850.
A vote of thanks to the Chairman concluded the pro-
ceedings.

EASTERN UNION. .
The executive committee of this • company have just
issued a report, to be submitted to the shareholders on
Friday next.- It shows that 31,736/. had been received
for passenger traffic in the half-year ending the 31st of
December, 1851, and 27,5021. at the corresponding period
of 1850; the total receipts for the former mentioned pe-
riod being 61,450/ and for the latter 58,984/. The ex-
penses were 29,7741., or 49.27 per cent.. against 31,3641.,
or 55.25 per cent. An arrangement has been concluded
for the construction of the Harwich line on terms
sanctioned by the Eastern Counties Company. The