The Sun.
London, England, 1864-03-26 00:00:00

SCOTTISH CENTRAL.

The half-yearly meeting was held at Perth on
Wednesday, Mr. R. Bruce in the chair.
The CHAIRMAN, in moving the adoption of the
report, said the net increase of revenue from all
sources was £9,095, due partly to the opening of
the Highland Railway to Inverness, partly to the
acquisition of the Dundee and Perth line, and partly
to general causes of prosperity. Owing to this
fortunate condition of matters the directors had
been enabled to add 1 per cent. to the dividend,
making it 61, per cent., besides carrying over a con-
siderable surplus. In paying the 2 per cent.
guaranteed on the Dundee and Perth this company
had not incurred any lose, and the directors
were now engaged in placing that line
in the same condition as the main line, so
as to run express trains on it with equal speed.
A loss of £1,656 had been incurred through the
combustion of a quantity of petroleum, which hed
not only ignited the whole train in which the fire
took place, but destroyed a field of wheat. Were
it:not for that accident the dividend might have been
at the rate of 61 per cent. The directors were pro-
moting a bill to improve their stations at Perth and
Dundee; they had effected considerable improve-
ments on South Alloa harbour, to which Baltic ships
now came up; and they had come to an amicable
arrangement with the Scottish North Eastern for
the Newtyle and Alyth extension. They had peti-
tioned against the North British Bill for a new tun-
nell access to Perth, which was unnecessary and
would cost an enormous sum.

Mr. MACDUFF seconded the adoption of the re-
port, which was unanimously agreed to, and the
retiring directors and auditor were re-elected.

GREAT NORTH OF SCOTLAND.

790
3,374

32,750

1,939
2,118
3,699
3,789

99
51,466
13,095
18,537
9,411
4,108

613
[4,321
3,577
[6,2 7
1,960

The report of the directors states that the tote
revenue for the half-year ending the 31st January
amounted to 154,811, including £8,090 dividends
and interest received on investments in other com-
panies, and £17,738 expended in working and for
rates and taxes, £325 rent of the Old Meldrum
Junction, and £8,401 for interest, &c., on loans,
leaving £28,347. To which was added £1,803 pro-
fit on rails purchased and sold, and £2,729 from
the preceding half year, making £32,880. Out of
this was deducted £15,075 for dividends on the 41
per cent. preference stock at the rate of 5 per cent.
per annum, and £6,921 for the proposed dividend
on the original stock at tle rate of 5 per cent, per
annum, leaving a balance of £3,606. The decrease
in the traffic receipts, as compared with the corre-
sponding half year, was attributed to the depres-
sion in the agricultural districts accommodated by
the railway, to the reduction of goods rates, and
to the opening of the Highland line. The total
decrease amounted to £3,784, which the directors
were confident would be speedily compensated when
the prosperity of the district was restored. The
working expenses amounted to 41 per cent. of the
gross receipts. The average rate of interest on the
company's debentures was slightly under 4 per cent.
Twenty-one miles of the line had been relaid with
new rails, which were fish jointed. From the com-
pletion of the Strathspey line a gross revenue had
been thrown upon the main line between Aberdeen
and Keith of nearly £B,OOO a year. The company
were now in possession of nearly one-half the Dee-
side stock. The Scottish North-Easters Railway
had introduced a bill in Parliament for power to
make a junction between their line and that of the
Great North of Scotland at Aberdeen, by the valley
of the Denburn. The capital account showed that
£1,779,978 had been received to the 31st January
last, and £1,661,114 expended, including
invested in the shares and stocks of other companies,
leaving a balance of £118,864. £579,122

OTTOMAN.
The report of the directorsl states that since the
last meeting they had received the Finnan and con-
cession, and the entire issue of
£588,000 debentures
had been effected on the terms of the subscription
list previously submitted to the Imperial Ottoman
Government, and up to the present period £198,000
had been paid in full, while 34 per cent. was paid
upon the balance of £320,000. The consolidation
of the Government shares, which formed one of the
conditions of the new concession, had been effected,
and the capital now consisted of £44,600 shares of
£2O each, making £892,000, and of debwatures for
£892,000, together £1,784,000, the whole of which
bad the 6 per cent. guarantee. The entire line be-
tween Smyrna and Ephesus (48k miles) had been
taken over from the contractor, and was now worked
and maintained by the company. The directors tes-
tified as to the energetic manner in which the
works were being carried out under the new
contract, and were still sanguine that the ultimate
traffic results on the finished line would fully equal
the original estimates. Mr. E. Clark, the consult-
ing engineer, stated in his report that all the tunnel
shafts had been sunk without difficulty or inconve-
nience from water springs, and the heaviest earth-
works had been commenced, so that there was every
probability of the work bt ing completed without in-
terruption and within the stipulated time. The re
port of Mr. E. Purser, the engineer-in-chief, stated
that the remainder of the line (32 miles in length)
from Ayesalock to Aidin, was commenced in De-