The Sun.
London, England, 1864-12-07 00:00:00

Railway and other Companies.

LONDON AND NORTH WESTERN.
A special general meeting of this company Was
held yesterday at the Easton station—Mr R. Moon,
in the chair.

Mr C. Stewart, the secretary, read the notice
convening the meeting.

The CHAIRMAN said the object of the meeting was
to authorise the raising of the necessary capital for
the new works mentioned in the last report, also to
pay off the liabilities of the Bedford and Cambridge
Railway_ ;50,000, and to pay £50,000, called up
on the West London Extension shares. They had
already paid the Bedford and Cambridge Railway
liabilities, and wished to replace the money. He
then moved the following resolution t " That under
the powers granted to this company by the London
and North Western Riilvray Additional Powers
Act, 1864, the West London Extension Railway
Act, 1863, and the Bedford and Cambridge Act,
1864, the additional capital of £365,000 be now
raised, to be disposed of in such manner and at such
times as the directors deem most to the advantage
of the company." They intended to issue that
amount to the proprietors rateably as ordinary -
stock of the company.

Mr BROWN-WESTIIEILD, M.P., deputy chairman,
seconded the motion.

Mr WILLIAMS wished to know whether the sum
proposed to be raised was part of the new capital
authorised to be issued in June last.

The CHAIRMAN explained that £265,000 of the
proposed additional capital was for new works that
were now in progress, £50,000 for the calls on the
West London Extension shares, and the remain-
ing £50,000 for the liabilities of the Radford
and Cambridge Railway. They had originally
agreed to pay the latter company 44 per cent on a
certain capital,but as the specified amount had been
exceeded it was subsequently arranged that they
should pay interest a; 4 per cent par annum in per.
petuity on the increased capital of the Bedford and
Cambridge Company, and t4vtlitline iato their
own hands.
The motion was then unanimously adopted.
The CHAIRMAN said the second resolution he bad
to submit was in respect to the purchase of the
Shrewsbury and Welshpool Railway. It had been
leased to them at 41- per cent on a share capital of
£192,000, there was interest on a further sum of
£54,000 in debentures, making together £246,000,
and also they were entitled to half the surplus pro.
fits. This agreement had been in operation for
some time, but as some disputes had arisen, and cer-
tain matters had to be completed, a new agreement
was subsequently made by which tbey were to put.
chase the line on giving the Shrewsbury and I'Veltih.
pool Company 4 per cent in perpetuity on a capital
of £300,000, without any right to share in surplus
profits.
The Solicitor then read the agreement entered
into between the two companies.

Mr WILLIAMS remarked that they wou:d pay
under the new agreement a larger sum than uader
the old agreement.

The CHAIRMAN said under the old agreement they
paid about £11,340 a year, and under the new agree-
ment they would pay £12,000 a year, 0r.£650 more,
for which they would get rid of the c'aim for half
surplus profits, and be able to work the line to greater
advantage. He concluded by moving a formal re-
solution approving the agreement for the purchase
of the Shrewsbury and Welshpool undertaking, and
authorising the directors to raise X 300,000 of addis

tional capital, to be entitled to a perpetual prefer.
ence dividend of 4 per cent, per annum, and to be
issued in exchange for, and in substitution of, the
ex:sting capital of the Shrewsbury and Welshpool
Railway Company.
Mr BROWN WESTIIEAD seconded the motion,
which wri agreed to unanimously, and the proceed•
ings te►minated. ---
CRYSTAL PALACE.

The report of the directors of this company states
that the result of the year's working ending the
31st of October last showed a balance in favour of
revenue of £52,550. After payment of all prefers
ence charges and interest, there remained a sum of
£20,812 available for dividend, out of which the
directors recommended the payment of a dividend
of 2 per cent. (2s. per share), leaving a balance of
£759 to: be carried forward. The increase in the
number of visitor& during the year over those of
last year was 173,972, making the whole n'imber
1,661,083, as against 1,487,111. That was the
largest number attained in any year since the
opening of the Palace, except that of the recent
International Exhibition. A corresponding increase
had taken place in the receipts of the refreshment
department, which was also in other respects in a
highly satisfactory condition. The exhibitors' de.
partment was in a sound and healthy condition.
Material benefit nould not fail to accrue to all the
branches of the company's income when the South
London line of the Cnatham and Dover Railway
Company was completed and the high level station
opened for traffic, vi hich would give the public two
new terminiin the heart of London, viz., at Ludgate-
hill and Charing-cross. There was good prospect of
the railway being opened early in the summer of
1865. The Triennial Handel Festival would be held in
June next, and an agreement had been entered
into with the Sacred Harmonic Society on terms
very beneficial to the company. Considerable pro.
gress had been made in the formation of a new
road through the Dulwich.wood property, crossing
the new high level station, and leading to the south
entrance of the Palace. This had opened up a
large number of eligible plots for building, several
of which had been already let, The gardens were
never more strikingly beautiful than during the
past autumn, and a material saving had been
effected in the cost of their maintenance, The re•
venue account for the year ending the 31st of
October showed that £121,360 had been received,
and £68,810 expended,leaving a balance of £52,550
The capital account showed that £1,446,262 had
been expmded, leaving a balance of £44,308.