The Sun.
London, England, 1852-09-03 00:00:00

SOUTH WALES.

The exact day for the further opening of this line
from Swansea to Carmarthen has at length been
fixed. The 14th of this month is now definitively
named as the day for the opening of the extension.
The 23d inst. had been previously stated as the likely
day, but it was found to be at least a week beyond
the time when the line might safely be opened for
traffic. An experimental trip along the line has been
made, and everything was found to be in order. It
is understood that the opening will be duly celebrated
by a public breakfast, to be given by the Mayor of
Carmarthen, and to which the directors of the lines,
the engineers, railway managers and officials, and a
large number of visitors will be invited.

LANCASHIRE AND YORKSHIRE.
The half-yearly meeting of this company was
held on Wednesday, at the Palatine Hotel, Man-
chester, Mr. Barnes in the chair.
The CLIAIRMAN said the accounts were presented
with the report, and be believed them to be honest,
and affording a fair view of the company's affairs.
The capital account showed that 129,000/. had been
spent, and the report stated that it had chiefly been
expended on Liverpool and Bury account, the Burn- ,
ley branch, the Huddersfield and Sheffield line, and
the West Riding Union line, in the settlement of the
contractors' accounts, in the purchase of land, and
the increase of accommodation at the stations and sid-
ings. He congratulated the shareholders upon the
state of the line, and had much pleasure in stating
that the company could now borrow money cheaper
than for some time past ; they could readily obtain
it at 3f per cent., and had latterly borrowed it at 31.
Messrs. Farrell had claimed upwards of 90,000/, but
the award of the arbitrator had only allowed them
4,0001., and that was a specimen of the claims wade
on the company. Five contractor's accounts, involv;
settled, and the one outstanding
ing something like half a million of money, had
sbeme e
was only
owas
not so
15,0001. or 20,0001. The Parliamentary business
upon the whole good, though eatisfactory
in their
as was desirable. They bad not succeeded
Opposition to the Bill for giving a line to Bradford.
They had settled the differences as to the different
classes of shareholders, and hoped
Il future, having
ie shareholders
would go on as a united body. The relations
company with the London and North-S es,,ern re-
now got free from dissensions within, t
of the
v
I mained as agreeable as at the last half-yearly meet.
ing, and it was hoped they would continuo so.

Affairs with the Great Northern remained as before,
with the exception that the directors of that company
had expressed a wish to meet the directors of this

company, who were quite willing to accede, to see if
the existing ditlerences could not be amicably d-
justed ; it was therefore possible these differences
I might he settled by negotiation, and he hoped it
would be the case. He was glad to see the feeiieg
abroad tending towards the amalgamation of groat
companies; and be believed that in that lay consider-
ably future remuneration of shareholders. He was
sorry to see the manner in which it had been dealt
with by some newspaper writers ; and he was quite
sure those writers were not railway proprietors.
They had not had their incomes reduced from 500/.
to 2001. a year, or they would look at it from another
point of vision. he thought shareholders were in-
debted to Mr. Glyn for the initiatory step he had
taken to bring about an amalgamation. It would
give a tone to public feeling, and would ultimately
lead to a better adjustment of the relations of one
company to another. He now came to a subject
which was of a painful character—namely, the re-
cent accidents. Those accidents had been matters of
regret, as might be supposed, to every director as
well as to the general manager. They could not look
upon them without sorrow that they should have oc-
curred. The directors regretted that there should
have been anything either deficient in one or another
to produce those accidents, if they had been caused by
any deficiencies on the part of the directors. On this
he could speak positively, that the directors, and be
believed the general manager, had never in one single
instance refused to put on additional porters or guards
where they believed they were required—to put on
more than was necessary would be an incumbrance—
if too few had been put on in any case it bad been
an error of judgment and nothing more. The di-
rectors were convinced that, at whatever cost, they
must secure safety to those who travelled on their line ;
it would be the object of all to secure greater safety
to those who used the line • they trusted they
would be enabled to do so—their'
now-to the subject. The greattb.wenitgtehnttionfn
was, they believed, passed for
the course of a week or two , wouldyear,orwou
.e in
be
tk be
in future.
Isldetgrrbilavoffieu. given
question as to what steps should
Thper. wac nn qnpdinn rogular traaftleonbad been to
some extent interfered with by the immense special
traffic, cheap excursion trains, and those going
one part to another, very much more sothnagn rloainst
year, or the year before, though the rates had
been
higher than they ware then, and more than the di-
rectors or managers expected. Some steps they would
take to secure greater safety. He concluded
by
moving that the rep ,rt of the directors be received
and adopted, the proceedings be sanctioned, and the
statements and accounts be adopted.
This having been seconded,
Mr. HIGHFIELD, of Liverpool, moved an amend-
ment authorizing the directors to create a suspense ac-
count out of the 103. per share taken from the Fifths,
and in making up the next account to charge the sus-
pense account with 20,0001. for relaying that line,
instead of charging a similar sum to revenue, the re-
mainder of the suspense to be divided as the share-
holders might think fit at the next or some subsequent
meeting.
This led to a very long discussion as to whether the
103. was to be regarded as a capital question or a re-
venue, numerous speeches being made in favour of
the two views respectively. The amendment was lost
by a considerable majority. The original motion was
then carried.
The CHAIRMAN then proposed a resolution declar-
ing a dividend at the rate of three per cent. per
annum, to be paid on the 15th of September, ten days
earlier than usual.—Carried.

Mr. ENTWISTLE, in order to prevent a threatened
re-opening at a future meeting of this subject, seeing
that the meeting had decidedly expressed an opinion
upon it, moved that the 10s. per share, amounting to
60,0001., should be applied in liquidation of the mort-
gage debt. This was seconded and carried.
This completed the business of the half-yearly
meeting, and a special meeting was constituted to give
authority to create perpetual irredeemable annuities
to take the place of the present loan debt, the rate at
which these were to be issued to be not more than
four per cent. ; but objection was made to the rate
and at the request of the meeting 31. 103. was fixed:
Mr. ENTWISTLE objected to having them made ir-
redeemable, seeing that securities were continually
sinking ; but it could not be altered, as that was the
constitution named in the Act giving authority.
This concluded the busineas.