The Sun.
London, England, 1863-08-08 00:00:00

EDGWARE, HIGHGATE, AND LONDON.

The half-yearly meeting of this company was held at the
offices of the corporation, Duke-street, Westminster, Mr.
Harper, the chairman, presiding.
The SECRETARY of the company having read the report
for the half-year, an abstract of which has already been
published.

The CLIAIRMAN said, as the statement of accounts had
been in the hands of the shareholders, it was not necessary
to lengthen the proceedings by any further statement. The
shareholders would be glad to learn that, since the report
was printed and circulated, some progress had been made
in obtaining the necessary land before commencing the
works. The difficulties always incidental to such an un-
dertaking had been removed, and the contractors would in
a few days be in possession of sufficient land for their plant,
and before the end of next week would be in possession of
that portion of the land where the most extensive and
heaviest works had to be commenced. The neighbour-
hood of Highgate was the portion of the line where the
work was the heaviest, and it was judged to be the best
economy to proceed with this part of the line first. The
piece of land beyond Highgate to the Great Northern
would be in the hands of the contractors before six
months. The works beyond Finchley were very light,
and would be proceeded with last, and there was no reason
to doubt that the line would be completed up to Edgware
by the end of 1864. It was also thought right to ask
the shareholders for authority to exercise• the bor-
rowing powers which they would be in a position to do
when half the capital should have beon paid up. It was
needless to say that such borrowing powers would not be
exercised beyond what was requisite to carry out the un-
dertaking.

Mr. DRAKE suggested that the calls should be first
paid up.

Resolutions adopting and confirming the report, and
authorising the company to borrow £73,300, were put and
carried unanimously,

The CHAIRMAN said that the proposal was anticipatory
of proceeding with the works, but that if the proprietors
desired to pay their calls beforehand,
re-
ceived, and five per cent allowed,
they would be
The usual vote of thanks to the chairman
and directors
concluded the proceedings.

SALISBURY AND YEOVIL.
The report of the directors of this company, to be pre-
sented to the shareholders at the half-yearly meeting on
the 14th inst., states that the income of the line has been
steadily progressive. Notwithstanding the absence of
traffic created by the Exhibition of last year, there has been
a gross increase of £3,108 14s 6d, the amounts for the two
half-years being relatively-1863
I £24,208 8s 6d ; 1862,
£21,099 14s. The traffic for the year ending June 30th,
1863, is equal to £26 per mile per week, amounting to
£54,042 4s 4d ; and in 1862 to Id, amounting to
£45,874 3s ld, showing an increase of £3 18s lld per mile
per week, After deducting working expenses and all
other charges, the accounts now present a balance of
£8,261 5s Gd, which, with a balance of £2,194 17s 9d from
last year, leaves £10,456 3s 3d available for dividend. After
the payment of a 5 per cent. dividend to the preference
shareholders, amountiug to £2,716 9s Gd, the directors re-
commend the declaration of a 4i per cont, dividend upon
the culinary shares, which, amounting to £6,855 14s 4d,
will leave £BB3 19s 5d to be carried to the credit of the cur-
rent year's account.

OSWESTRY AND NEWTON.
A special general meeting of the shareholders in this
company
was held yesterday, at their offices, 9A, Bridge-
street, Westminstet ; Mr. G. H. Whalley, m.p., in the
chair. The object of the meeting Was to increase the
borrowing powers of the company.

The CHAIRMAN said he had entered so fully into ex-
planations as to the importance of their borrowing powers
on a former occasion, that it would be unnecessary for him
to go over the same ground again.
must, howaver,
state that all the requirements of the Act of 1863 had been
complied with. With respect to the general state of the
line and prospects of the company, he would defer any re-
marks upon that point until the approaching half-yearly
meeting- He would now move " That the directors be
empowered under the powers of the Act of 1863 to borrow
on mortgage any sum not exceeding £66,660, at such rate
of interest as to them may appear desirable."
Captain JOHNS seconded the motion, and it was agreed to
unanimously.
The proceedings closed with a vote of thanks to the
chairman.

LLYNVI VALLEY.
The ordinary half-yearly meeting of this company took
place at the Great Western Hotel yesterday. Alexander
Macgregor, Esq., presided.
Mr. G. F. SAUNDERS, the secretary, read the report, from
which it appeared that the gross revenue for the halt-year
ending June 30, 1863, amounted to £9,374 7s 11d, against
£9,426 198 9d for the preceding six months, and £9,401
3s 6d for the corresponding period of the past year. The
working expenses amounted to £3,130 198 4d, against
£3,012 5s 3d for the preceding six months, and £3,155
13s 7d for the corresponding period of the past year.
The net income, after deducting the working expenses,
with the interest on debentures and on land purchases
unpaid, awounted to £4,232 13s Ild, against £4,231 7s 3d