The Sun.
London, England, 1863-10-06 00:00:00

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RAILWAY INTELLIGENCE,

PEEBLES.

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The report of the directors states that the gross i
revenue of the railway for the 6iX months ending
the 31st of July last amounted to £7,305, and fore
the corresponding six months of 1862 to £6,232,
exhibiting an increase of £1,073. The moiety of
of
the revenue belonging to the company wag 13,60
The disposable balance amounted to £3,238, of
Ii which £255 was payable to the North British Rail-
way Company, being one half of the surplus after
making provision for a dividend of 6 per cent. on
the company's ordinary shares for the two past half-
years. Out of the remainder the directors proposed
to pay the usual dividend of 5 per cent. on the
preference shares, and a dividend at the rate of 6
per cent. upon the ordinary shares, leaving a balance
of. £2OB. The dividend upon the ordinary shares
might have been 61,- per cent. for the past half-year,
but the directors were desirous to carry forward a
surplus sufficient tomeet certain old accounts which.
were in course of adjustment. It was proposed to
make the dividends payable on the 13th inst. The
North British Railway 'Company continued to
discharge their obligations in an efficient and satis-
-1 factory manner.
`signed.
The lease had been adjulited and

MANCHESTER, SII.EFFIELD, AND LINCOLN-
sninE.

The total expenses of this company's railway,
'
‘3.:ae.m7ofruonmtedthteo 155t773:8,u21y6
including rents, tolls, duty,
toas theaga
i2n7stthl7s 02September,for
thelB 6
from the_v ist July to the
corresponding period of
1862, and
1862. The proportion of the South Junction receipts
t
accruing to this company
27th September amountedtope...r2io:od2;f
£8,407 for the corresponding
the expenses to £3,969 as against £3,589.

INDIAN CARRYING.
PanY was
The third ordinary meeting of this corn
held yesterday at the Loudon Tavern, Sir Macdonald

Stephenson in the chair.
Mr. W. Thomson, the secretary, read the notice
convening the meeting. The report stated that the
operations of the past year had, on the whole, been.
attended with a satisfactory result. 0 wing altogether
to the injudicious proceedings of the late manager
at Bombay a loss had been sustained on the working
in that Presidency, but the directors had more
than ever reason to believe that under the change
made in the local management a profitable
course of business would be opened. Mr. Bates, the
Madras manager, whose operations had shown
great ability and had been attended with signal
success, had been directed to visit Bombay for the
purpose of assisting by his advice in the reorgani-
sation of the company's business there. The business
in the Madras Presidency had shown a steady
improvement from the commencement. The repo,rts
received from the manager at Calcutta continued
most encouraging as to the prospects of the company..
The result of the few months' operations, although.
the accounts did not show a profit, was satisfactory.
As soon as the system was brought into operation
the receipts rose from £9B in the month of January,
to £1,431 in the month of February. The expense
which had been incurred in the hire of carts was
now being diminished by the substitution of the
company's own vehicles. The Bengal Government
being about to discontinue their bullock trains,
had notified their readiness to enter into contracts
for the work hitherto done by them, and a tender
on the part of the company had accordingly been
sent in. It was well understood that the Govern-
ment would, on favourable terms, make over
to the parties contracting the plant necessary
for carrying on the work. The revenue ac-
count showed a balance of profit of £2,008, of which
the directors recommend that £750 should be ap-
propriated to the payment of a dividend for the
half-year ending the 30th of June last, at the rate
of 6 per cent. per annum. The capital account
showed that £25,000 had been received, and £13,610
expended, leaving a balance of £11,390. The re-
venue account for the year ending June 30 showed
that £24,405 had been received, and £22,397 ex-
pended, leaving a balance of £2,008.
The CHAIRMAN said that a dividend aimed from
revenue of 3 per cent. for the half-year would fur-
nish the best commentary upon the text of the re-
port. The company's operations had been but
recently undertaken, and the usual incidents b..11:1
occurred—partial success and partial failure, tho
former of a nature to afford grounds to hope for its
continuance and increase, the latter being suffici-
ently explained by the want of judgment in a par-
ticular agency which had since been re-modelled.
The principles on which the company had proceeded,
of endeavouring to act with rather than against ex-
isting associations had been appreciated, and enabled.
the directors to secure the good will and co-opera-
tion of others engaged in the same pursuit They had
proceeded cautiously, and were enabled, notwith-
standing losses from causes they had no reason to
anticipate, to recommend a dividend upon the re•
suit of the half year's working. The company had
advantages over other parties in India of capital.
and systematic organisation, with officers specially
trained in the great carrying establishment of this
country, and selected for their high qualifications.
Those gentlemen had, as a body, fully justified the
expectations of the board, and the shareholders
might rely upon their interest being safe in their
hands. He concluded by moving that the report
and accounts be approved and adopted, and that a
dividend be declared at the rate of 6 per cent. per
annum, free of income tax, for the half-year ending
the 30th June, payable on and after the 19th inst.:
Mr. W. HARTRIDGE seconded the motion, and it
was carried unanimously.
On the motion of Captain J. A. ANGUS, seconded
by the Rev. H. WALDRON, Mr. J. E. Coleman and
Mr, G. Engstrom, the retiring auditors, were re-
elected, with an allowance of 10 guineas each.
The proceeding concluded with a Tote of thanks
to the chairman and directors.

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