The Sun.
London, England, 1864-07-27 00:00:00

SCINDE.

It appears from recent advices that the chief engineer in
charge of this company's proposed Indus Valley Railwa y
has reported in favour of an extension of the Scinde Rail-
way from Kotree to Mooltan—and that a bridge across the
Indus at Kotree is perfectly practicable at a cost of little
more than !1200,000. The permanent way on the Punjab
section of the undertaking is being carried on rapidly to
Mooltan, so as to insure the completion and opening of the
Punjab railway for traffic by the end of the present year.
The contract for the earthworks on the Delhi section, at
the Umritsir end, is being proceeded with. It also appears
that a tender has been sanctioned for the works on 58 miles
of the line, from Gharzeeabad, near the Delhi end, and that
extensive arrangements are about being sanctioned for
carrying on the remaining works of this section. A propo-
sition for an extension line from Lahore to Peshawur was
looked upon with much interest in the Punjab.

CONTRACT CORPORATION (LIMITED),

Yesterday the first ordinary meeting was held of this
corporation, established for the negotiation of contracts for
the construction of public works at home and abroad ; Mr
J, Robinson in the chair.

Mr J. C. Handfleld, the secretary, having read the
notioe convening the meeting, the balance sheet for the
half year ending June 30 was taken as read. _ . .

The CIIIIRMIN, in moving the adoption of the balance-
sheet, said the meeting was rendered necessary in compli-
ance with the articles of association. The directors scarcely
expected to have been able to report so satisfactory a pro-
gress during only the first six months of their establish-
ment. They had however a profit and loss account showing
a highly satisfactory dividend, and they had contract orders
before them far greater than they could possibly undertake.
Determined, however, to act upon principles of prudence,
they had resolved, in view of the present unsettled political
state of Europe, to enter into such an amount of trauma-
tions as they felt assured were perfectly
safe. The profit and
loss for the ball-year showed a sum of £12,099, besides
writing off £1,569 for preliminary expenses, and placing a
sum to the credit of the reserve fund equal to 15 per cent.
The earnings for the half year would enable them to de-
clare a dividend of 15 per cent., and to carry forward £1,599,
The total net profit would represent something like 35 per
cent. The field for business operations was very extensive,
and the only difficulty was how t
oo make
that the most judicious
selection. Tie concluded by propsing a dividend at the
rate of 15 per cent., free of income tax, be declared for the
past half year.
Mr Alderman DAI seconded the motion, and congra-
tulated the shareholders on the remunerative results of the
enterprise. Important business was now under the conside-
ration of the directors which would lead hereafter to more
successful results.
The resolution having been carried unanimously, £5O
eaeh was voted as remuneration to the auditors.
The CgAIRMAN, in reply to a proprietor, said there was
no call in contemplation at present, and after a vote of
' thanks to the chairman and directors the meeting separated.