The Sun.
London, England, 1864-08-04 00:00:00

NORTH-EASTERN.

The report of the directors of this company states that
the traffic receipts for the half-year ending June 30 last
show an increase of £155,065 as compared with those for
the corresponding half of 1863. The gross traffic receipts
amounted to £1,464,623, and the working expenses, taxes,
&c., to £572,068, leaving the net receipts £792,555, or
£102,085 more than for the corresponding half of last year.
The balances, after providing for dividends on preferential
stock and shares, amounted on the Berwick account to
£208,009, on the York account to £79,513, on the Leeds
account to £22,865, on the Thirak and Malton account to
£1,544, on the Carlisle account to £44,006, and on the Dar-
lington account to £63,3A5. Out of these balances the di-
rectors recommend the payment of dividends on the Berwick
ordinary stock at the rate of 51 per cent per annum, leaving
£3,631; on the York ordinary stock at the rate of 41- per
cent per annum, leaving £2,300; on the Leeds ordinary
stock at the rate of 3k per cent per annuls, leaving £1,077;
on the Thirak and Malton at the rate of 41 per cent per
annum, leaving £419; on the Carlisle ordinary stock at the
rate of 7 per cent per annum, and on the 4 per cent pref.
stock an equalising dividend at the rate of 3 per cent per
annum, leaving £1,3'31; and on the Darlington ordinary
stock at the rate of 8 per cent per annum, leaving £2,891.
The results of the last session of Parliament to the company
had been entirely satisfactory, no measure prejudicially af-
fecting them haying been passed, and all their own applica-
tions having been successful. The most important of thesewas
the bill for the new line from York, via Selby, to the Great
Northern Railway at Askern, which would improve the east
coast route between London and Scotland, and accommo-
date a district hitherto without railway communication.
The Otley branch was nearly completed, and on receipt of
the requisite authority from the Board of Trade would be
opened for public traffic. The Market Weightun and Beverly
line would be opened in the course of the autumn. The
Castleton and Grosmout branch would be opened before tho
end of the year. A provisional arrangement for a union of
the Cleveland Railway with the North-Eastern Company
on the basis of the former receiving a guaranteed dividend
of 51 per cent. per annum on their share capital, limited
to £203,700. The capital account showed that £22,487,137
had been mewed on shares, £8,625,734 on loan; £193,937
on 4 per cent. ,debenture stock, £61,170 on 41 per cent. de-
benture stock, £420,810 on 4 per cent. preferential stock,
and £2,000,000 on 41 per cent. preferential stock, together
£33,794,817, and £33,849,808 expended, leaving a balance
against the company of £54,991.

During the last month the directors of this company have
reduced the first-class passenger fares to the extent of about
one-sixth below the old charges. This reduction has made
very little difference between the old second-class fares
(which are unaltered) and those:of the new first-class tariff,
and the result is, especially on the lines leading to the coast
watering places, ct very large increase in the number of first-
class passengers,

LANCASHIRE AND YORKSHIRE,
The report of the directors states that the amount of
capital on the 30th of Jane last, on which dividend or in-
terest was paid out of revenue, exclusive of leased lines, was
as f0110w5:—£12,093,594 consolidated stock, £3,089,119
guaranteed and preference stock, £4,648,337 loans, and
£197,008 paid in advance of.calls—total, £20,028,058. The
expenditure charged to capital for the past half -year
amounted to £153,723, including £86,733 on new lines.
The traffic receipts during the past half-year amounted to
£986,057, against £863,550 for the corresponding half of
1863, showing an increase of £122,507. The expenditure
amounted to £404,373, [against £374,728, showing an in-
crease of £29,645. The balance of revenue applicable to
dividend on the ordinary stock of the company wa5£368,128,
out of which the directors recommend the , proprietors to
declare a dividend at the rate of (5 per cent, per annum,
less income tax, leaving a balance of £20,437. The large
increase in the company's revenue, amounting to £122,507
for the half-year, was a source of great satisfaction to the
directors, bearing in mind the fact that many of the mills
and manufactories in the cotton district wore still only
partially employed. The estimate of the probable amount
which would be required during the current half-year for
the extension of stations, for land stations, and for rolling
stock, was £150,000.

KETTERING,THRAPSTON,'AND HUNTINGDON.

Yesterday the half-yearly meeting of this company was
held at the offices, in Poet's-corner, Westmiuster ; General
Arbuthnot in the chair.

Mr Lankestor, the secretary, read the report, which
stated that the greatest portion of the land required for the
line had been obtained, that the contractors had advanced
considerably with the construction of the works, and that
nothing could exceed the admirable manner in which they
had made the bridges and other portions of the railway.
The directors had no doubt that the line would be highly
remunerative, as it passed close by the Woodford Ironpits,
whore there was abundance of iron ore of the finest qua-
lity. and for which there was a great demand, as well as in
adjoining localities,lwhich would bring a large amount of
mineral traffic. on the line.
The report was unanimously adopted, and a resolution
was passed authorising the directors to borrow upon mort-
gage any sum not exceeding £75,000.
Thanks to the chairman and directors closed the pro-
ceedings.

TIIRKISII COTTON.—Accounts from Smyrna of
July 25 state that, since the Turkish Government has
adopted the plan of distributing cotton seed gratuitously to
the planters, the produce has increased considerably. In
1860 the cotton exported from Smyrna amounted to only
12,600 bales, and was estimated at £36,000. In 1863 it in-
creased to 60,000 bales, and the value rose in a greater pro-
portion. This year it is expected that the province of Ana•
tolia alone will produce 180,000 bales. The Turkish Go-
vernmont has thus gained enormously by the encouragement
it has given to improvement in agriculture. For example,
the tithes of Magnesia, which were farmed out last year fur
74,000 Turkish pounds, produced this year 127,000 ; those
of Aidin, rented last year at 60,000, found bidders on the
spot this year at 100,000 pounds ; and it is expected that
the oilers at Constautiuople will be otill highorf