The Sun.
London, England, 1864-08-17 00:00:00

six furlongs.

Mr J. Osborne's Gaily, 4 yra, Bst 8I) ,(Whiteley)
Mr Handley's Ossian, 4 yr5,98t...4....(11771rim5haw) 2
Mr T. Smith's Oulton Lowe, 3 yrs, 6st 61b .. (Howarth) 3
Mr T. Griffith's Fuss, 5 yrs, 7st 101 b (k. Taylor) 4
The following able ran :—Master Joe, Blondin, and Pre-
paration. _

_
Betting-7 to 4 agst Ossian; 3to 1 agst Gaily, 4to 1 agst
Oulton Lowe, 6 to 1 agst Puss.

Won by a neck, a length between second and third, three
lengths between third and fourth.

RAILWAY AND OTHER COMPANIES.

MIDLAND.

The half-yearly meeting of this eorapany was held yes-
terday at Derby. Mr W. E. Hutchinson, Deputy Chair-
man, presided.
The report was taken as read.

The CHAIRMAN, in moving the adoption of the report
said he was sure they had all read with much concern the
paragraph in the report alluding to the retirement of Mr
Beale, who had for so long a period been their able and ex-
cellent chairman; but he would continuo to occupy a seat
at the board, so that his great knowledge and experience of
railway matters would still be given to this undertaking.
(Cheers.) He then read a letter from Mr Beale, in which he
expressed his obligations to the shareholders. Alluding to
the results of the last year's operations the chairman con-
gratulated the shareholders on the large excess in the traffic
receipts, and on the fact that so large a proportion of that
excess was available for dividend. The increase had been
over every department except cattle, as usual the largest
ratio of increase had been in the mineral traffic ; in mere,
chandise it had been £40,000 ; in minerals, £79,000. The
increase in the passenger traffic had been very satisfactory,
amounting as it did to £28,000, and that in the face of large
reductions in the passenger fares over a considerable portion
of the railway. This largo increase of £128,000 had been
earned at a reasonable cost; it had amounted to no more
than £52,000, leaving £76,000 available for dividends ; hence
the large increase in the dividend as compared with the
corresponding half of last year. The increased expenses
over 1863 had been caused principally by maintenance of
way, renewal of road, &c., all at the cost of revenue ; as
had also charges for carriages and waggons, and an
increase in the charge for traffic expenses had been
caused by reason of the line having
been opened for the
whole half-year to Rowsley and Buxton. Among the gene-
essuoefoninwerheiecshe thweaey htandeborrowed this money were
item for fire insurdnce.
The
chtearrolg
favourable, considering the high price of money during the
wlalpseogreasing satisfactorily, and
past half-year. They had borrowed nearly halt a million,
2as t7.ld, perw heieonht .
was
se remainder
at
rai-waYs. The new lines in
their northern friends would be glad
ear
rate
to4eui
ot, f o
theaveragesnoem-heaolff otfhwebhe leadingwhich
g
to hear that there was
and likely lino
being opened in the
autumn. Considerable progress had been made In the line
Nuneaton, which from Birmingham to —'all would open up a
new way, via the Midland from Birmingham
caopurrossepoerotcoonfstthrue cOtitotnleivie"
to London,
and although it would not be soi short as
, the route by the
London and North-Western, t would afford a third means
of communisation about in equal distance with the Great
Western. In the last Parliamentary campaign, P i as far as the
Midland y had had a pro-
eraet Companyerandexpensivweas concerned, they
session, and that two from quarters
from which they had a right to expect
something else—he
alluded chiefly to the opposition at Sheffield and Burton—
but thanks to the seal of ,their solicitors and officers, they
had a successful session. The works at Sheffield would be
as possible.....me
proceeded with as speedily e hoped that any
bioadthfee:ltiongwhwwhiocuhld e,moih et
inhabitants would
soon come to the conviction that what had been done was
cease,
de existedthet
the against the Midland
best for their interests. Ile concurred with Mr Beale as to
the satisfactory position which the Midland lino occupied;
it had a most important geographical position, in the centre
owlef,ooolOudOild
094tixmo.
Many
cir-
cumstances week, but though
per cent., they must not
eenhaandledintchreemasetd
of
to
of a great commercial district—their
iptethrraadfil
thatrat
,letaeotaoetdhsavaeat
sanguine
dividendhadh takenaoattf
increase
leceapr rerl loaayest
place
e
might militate against
,it, They' wore laying
out a great deal of capital, and had consequently „here to
pay upon. They had raised more than £1,000,000, having a
deferred dividend, that would boar interest at the rate Jf 5
per cent. in July of next year. Ile mentioned among other
reasons why the Eincreased dividend might not continue.
Circumstances might render it desirable that larger balances
should be carried over than usual ; but in any ease they
might depend on it that nothing should be wanting on the
, part of the directors to maintain their position and every
possible improvement. go
concluded by moving
tion of the report. _ the adop-
I

Mr LEWIS seconded the motion, Which was adopted.
The various dividends were declared in accordance with
the recommendation of the report.

A vote for the expenditure of a sum of £200,000 on capital
account was carried, the amount to be prapicled izx the pur-
chase of engines, stock, &c.

hlrHeane was appointed auditor in the ph te a of Mr Cripps,
deceased, A vras stated that the new aucli,to,t raga holder