The Sun.
London, England, 1864-08-15 00:00:00

CAMBRIAN:

SALISBURY AND YEOVIL.

The report of the directors states that the gross earnings
for the half-year were £27,465, and for the corresponding
half of 1863 £24,208, showing an increase of £3,207. The
traffic for the year ending the 30th of June last was equal
to £2Bl per mile per week, or £59,288, for the year ending
the 30th of June, 1863, was £26 per mile per week. or £54,042,
showing an increase cf £2 108 per mile per week, or £5,246.
After deducting working expenses. Government duty,
interest, and all other charges, a balance remained at
£10,199, to which was added £2,358 from the preceding half-
year, making an available sum of £12,557, out of which the
directors recommended the payment of a dividend at the
rate of 5 per cent per annum on the preference shares, and
at the rate of 4i per cent per annum on the ordinary shares,
leaving a balence of £1,746. The second line of rails be-
tween Bradford Abbas junction and Yeovil was opened for
public traffic in May last, and the doubling of the entire re-
maining portion of the line would now be actively proceeded
with. The bill empowereing the company to acquire addi-
tional lands and to raise further capital received the Royal
assent on the 23d of June. It was proposed to make the
dividend warrants payable on the 22d inst. The capital
account showed that £932,733 had been authorised, of which
£656,372 had been raised, leaving £276,361 to be raised.
The expenditure to the 30th of June amounted to £663,917,
leaving a balance of £7,559.

ALFORD AND MABLETHORFE.
A meeting has been held at Alford in support of this pro-
ject, Of £60,000 required for the execution of the wurks
only £lO,OOO is solicited in the neighbourhood. The line,
it carried out, will open the coast of Sutton, Mablethorpe,
&c., to the pleasure seekers of the Midland district.

GREAT SOUTHERN AND WESTERN OF
IRELAND.
The report of the directors states that the traffic of the
lino for the past half year was in excess of the preceding
corresponding halt years, but until an improvement took
place in the state of Ireland no great increase in the traffic
could be expected. The directors recommended the pay-
ment of dividends at the rate of 5 per cent. per annum on
the preference capital, 3.176 per cent. per annum upon the
£113,350 ordinary capital held by the Midland Great Wes.
tern Railway Company, and £3 ler cent. per annum upon
the other portion of the ordinary share capital of the com-
pany, less income tax, The committees of the two Houses
of Parliament, notwithstanding a most determined opposi-
tion on the part of the Midland Great Western Railway
Board, had accorded to this company the right of passin,-;
over the Shannon at Athlone by means of the Midland
Railway—a privilege which secured for ever the indepen-
dence and prosperity of the Great Northern and Western
Railway, Parliament had further granted to the company
tree access to the Great Southern and Western station at
Athlone ; such direct communication with that company's
system could not fail largely to increase the traffic of the
company's line, The directors proposed giving effect to the
monetary clauses of the two bills before referred to, with
the view of discharging existing liabilities on the line to
Castlebar, and of carrying out the Westport and Ballina
Extensions. The capital account showed that £187,492
had been expended, leaving a balance of £8,023.

VALE OF NEATH.

The report of the directors stated that, comparing the re-
ceipts and expenses of June, 1864, with those of Debember,
1863, the accounts showed an increase of £3,670 in the re-
ceipts and £4,036 in the expenses. The permanent junc-
tion with the Great Western Railway at Aberdare was com-
pleted, so far as this company was concerned, in December
last. The Great Western Company, however, only com-
menced by means of a temporary junction between the two
lines, the working of through goods traffic on the 18th of
April last, and notwithstanding the most urgent demands
by the directors, and promises repeatedly made by the
Great Western, the junction for passenger traffic had not
yet been completed. This was a great hardship upon the
company, inasmuch as it not only leaves to a great extent
unproductive the large amount of capital expended upon
the works, but deprives them of the benefits which they
had fairly anticipated from the larger passenger traffic that
would have arisen on the opening of the new route. Upon
the completion of the narrow gauge by this company they
became entitled to certain payments from the Great West-
ern Company, which, in accordance with the terms of the
agreement, had been referred to Mr T. E. Harrison, but
until that gentleman has given his award the directors
were unable to take credit for the actual amount. They
had, however, carried £1,500 to credit of revenue. The
available balance for dividend on the ordinary stock,
after
providing for interest, preferential and other charges, and
Placing £l,OOO to the credit of a reserve fund, was £15•869.
This sum would admit of a dividend of 4wpar cent. per
annum, leaving a balance of £7OO for the next half-year,
and the directors recommended the declaration of that di-
vide nd accordingly. The laying down of a third rail on
the main line between Hirwain and Merthyr had been
completed, and rapid progress was now being made with
the Dare and Amman branches. The directors had en-
tered into a traffic agreement with the London:and North-
Western Railway Company, and had purchased the Aber-
dare Valley Railway for a payment of 71 per cent. per
annum on their share capital of £12,000.

. _
The capital account showed that £1,464,559 had been ex•
pended. The revenue account for the half year showed that
£71,225 had been received, and £33750 expended.

THT SUTHERLAND MINISTER AND MR. JOHN
BRIGHT.—Some years ago Mr. Bright was going to
a certain town on the Sutherland coast. While the coach
waS going through a certain parish, the worthy minister
thereof mounted and sat beside John Bright. They began
to discuss politics. After a while the minister said, with
a twang and dialect we cannot copy, " I'll tell you what it
is, we'll never have peace until that blackguard, John
Bright, be hanged. He is trying to Americanise our
institutions, and do away entirely with the glorious consti-
tution of Great Britain." " Oh," says the M.P., "you
would not surely hang him." " Haag him," replies the
minister, "I would just hang himself as high as the tree.
The blackguard Cobden is bad, but he's 10 degrees worse.
Oh, he should be burnt, burnt I" In something of the
same strain the conversation went on all the way. After
service he was complimented by the clergyman for whom
he officiated on the fine audience he had, "and among the
rest you had Mr Bright, M.P. for Birmingham." " Where
did he sit ?" says the minister. He was told where the
stout M.P. sat. "0 Lord," he exclaimed, "what have I
done ? lie came down on the coach with me, and I called
him a blackguard, and said he should be burned."—Elgin
Courant.

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The first half-yearly meeting of this company was held
at the offices, Bridge-street, Westminster, on Saturday,
Earl Vane in the chair.

The report congratulated the shareholders upon the suc-
cess of their efforts in the last Session of Parliament, and
upon the course of policy which had been pursued. It stated
that the Oswestry and Newtown, Llanidloes and Newtown,
Oswestry, Ellesmere, and Whitchurch, and Newtown and
Machynlleth railways, had been amalgamated under the
title of the Cambrian Railways Company, and their agree-
ments with the London and North-Western Company had
been sanctioned by Parliament. By those means the
public interests would be better served. By the opening
of the Aberystwith and Welsh Coast line the railway system
was complete between Aberystwith and Lancashire and the
manufacturing districts of the north on the one hand and
London and the south of England on the other. The Mid-
Wales line would shortly be opened, by which they would
have direct communication with South Wales and the north
of England. In an act authorising the leasing of the
Shrewsbury and Welshpool line to the North-Western, or
to that company and the Great Western Company, the
Cambrian Company obtained the insertion of a clause pre-
venting anything being done prejudicially to their arrange-
ments with the North-Western Company.
The CHAIRMAN, in moving the adoption of the report,
said he was firmly of opinion that their railway would prove
very profitable if properly managed, because there were
ample means for developing and carrying on a large traffic,
while their arrangement with the London and North-
Western Railway Company would prove of great mutual
advantage,

Mr TOOTAL seconded the motion, which was carried,
Captain Johns, Mr H. Gartside, Captain Pryce, and Mr
D. Williams were then elected directors The election of
other directors was adjourned to the 2d of September.
The CHAIRMAN then proposed that a dividend at the rate
of £5 15s per cent. per annum be declared upon the ordinary
capital, payable oa the sth of September.
Captain Joirss seconded the motion, and it was carried.
Mr G. Lewis was appointed secretary, and the meeting
was adjourned to the 2d of September,