The Sun.
London, England, 1864-02-25 00:00:00

LANCASTER AND CARLISLE.

The half yearly meeting of this company was held at
Lancaster on Tuesday—Mr. E. W. Hassel in the chair.
A dividend at the rate of 10/ per cent. per annum was de-
clared upon the consolidated stock for the half-year ending
Dec. 31, and a further dividend at the rate of 41 per cent.
per annum was declared upon the 41 per cent. preference
stock for the same period.
The CHAIRMAN said the next business was the considera-
tion of an important arrangement pending between the
London and North-Western Railway Company and the
Midland Railway Company, in which this company was
largely interested. The Midland Company had been fur
some time anxious to carry their traffic through into Scot-
land, and therefore they meditated constructing a rival
line to the Lancaster and Carlisle Railway. The London
and North-Western Company, being the lessees of the Lan-
caster and Carlisle Railway, were extremely anxious to
prevent the making of such a rival line, and therefore they
proposed to procure an Act of Parliament, by which they
agreed to grant to the Midland Railway the use of the
Lancaster and Carlisle line, in order that they might carry
their traffic into Scotland. He was very glad to see that
these great companies were now coming to their senses, and
that, instead of setting up rival lines one against the other,
and thus entering into a mutually destructive competition
they were making amicable arrangements by which the
shareholders on both sides would be benefited. In autumn
some of the directors of this company had a conference with
Mr. Moon, the chairman of the London and North-Western
Railway, and he proposed that they should enter into a
new lease with the two companies, having a dividend of 91
per cent. per annum guaranteed to them. It was thought
by some of the directors of this company that 9/ per cent.
was too low a dividend, and the negotiation, therefore, went
on, though it was not unlikely that had the dividend been
fixed at 10 per cent, it might have been agreed to. The
result was that the bill he had spoken of was introduced
into Parliament by the London and North-Western Com-
pany. _ _ _

After a long discussion, a resolution authorizing the di-
rectors to petition Parliament against the Bill was adopted,

BRISTOL AND PORTISHEAD.

The half-yearly meeting WAS held yesterday at Bristol,
Mr. J. Ford in the chair.

The report stated that since the last meeting very fair pro-
gress had been made in the business of the company. The
engineers stated that the line had been resurveyed and set
out since the passing of the Act, and property plans were
prepared for the land throughout. The works would be lo ,
to a contractor as soon as sufficient land was obtained to en-
able him to proieed with the works, The amount of capital
subscribed was £14,100, upon which £4,377 had been paid.
The CHAIRMAN, in moving the adoption of the report, con•
gratulated the shareholders on the progress which had been
made since December last towards commencing the works.
It now only remained to push on with every possible vigour
The scheme was complete in itself from the river Severn to
the city of Bristol, which they had every reason to believe
would be constructed within the estimates and in a much
shorter time than was originally anticipated.
Mr. J. ABRAHAM seconded the motion, which was carried
unanimously.

The retiring directors and audit ors were re-elected, and a
vote of thanks to the chairman concluded the proceedings.

CHESHIRE.

A meeting of the Stockport, Timperley, and Altrincham
Company was held on Tuesday at the Sheffield Railway
Station, Manchester, Mr. James Marshall in the chair. The
report stated that £58,225 had been expended to December
31, making a total outlay on capital account of £156,929.
Five and a half miles of single line of pavement way had
been laid, and it was hoped to complete the works by
autumn.

A meeting of the Stockport and Woodley Junction Com-
pany was held, at which Mr. Marshall also presided.
£75,192 had been received, and £65,272 expended at the
31st December. The receipts on the line were increasing
satisfactorily. A dividend of 4} per cent„ payable' on the
let of March, was declared.
A meeting of the Marple, New Mills, and Hayfield Junc-
tion line was also held at the same offices as the above, Mr.
N. Buckley in the chair. £95,397 had been received, end