The Sun.
London, England, 1863-08-11 00:00:00

THE, SUN, LONDON, TUESDAY EVENING, AUGUST 11, 1863.

RAILWAY INTELLIGENCE.

GREAT WESTERN.

The adjourned special general meeting of this company
was held yesterday at the Padding-ton station to receive the
report of the scrutineers on the question of electing 17 di-
rectors to represent the interests of the Great Western pro-
prietors at the Board of the amalgamated company. The
Right Hon. S. Walpole, M.P., the chairman, presided.
It appeared that the poll closed at 12 o'clock, and that the
scrutineers were not prepared with a report as to the result
at three o'clock, being the time appointed for receiving it,
The CHAIRMAN inquired of the scrutineers when it was
probable they would be in a position to make their report to
the adjourned meeting, as he thought it was necessary the
decision should be come to within the month from the
passing of the Amalgamation Act.
Mr. ADAMS, one of the scrutineers, said there were so
many proxies to examine that it would take a considerable
time to go through the whole of them in the manner he
deemed requisite. .

Another scrutineer thought the scrutiny could be finished
by Wednesday.

- Mr. ADAMS said he would do all he could to facilitate the
scrutiny, and even work all night for the purpose, but theta
were between 2,500 and 3,000 proxies to be examined.

After some conversation it was agreed to adjourn the
meeting to Thursday, at five o'clock, to receive the final
report of the scrutineers.

Thanks were voted to the chairman, and the meeting ad-
journed.

NORTH-EASTERN.
The directors report that there is an increase for the past
half-year of £63,112 over the corresponding period of 1862
A considerable portion of the increase may be attributable
to the opening of new lines and to the construction of new
works to develope the trade of the district. The statement
of receipts and expenditure shows that the revenue of the
past half year has not reached the amount received in the
corresponding half of 1861 by £24,312, although since that
time 27 miles of new line have been opened. On those lines
and other works there has been expended between January,
1861, and January, 1863, the sum of £1,040,704. Some of
these works are still unfinished, and therefore are unpro-
ductive, but the greater part has been spent on lines, roll-
ing stock, warehouses, &c., which have been in use, and
have contributed to the revenue of the past half-year, so that
the general result of the half-year's working shows that,
with the addition of new lines and with increased facilities
for traffic in all departments, the depression still existing in
some branches of trade has been such as not only to stop
the usual progressive increase, but to keep the receipts at a
lower point than they were in 1861. The necessary issue of
new capital has caused an increase in the preference divi-
dends and interest of about £12,000 compared with 1862,
and the additional train mileage (314,440 miles) consequent
on the opening of new branches and the partial revival of
trade has materially added to the working expenses of the
half-year. In addition to this increased expenditure, the
altered mode of treating the cost of renewal of way has ope-
rated for the first time in the past half-year, it having been
resolved to charge a part of the renewal to the first half-
year, instead of wholly to the second, and accordingly the
sum of £11,293 has been charged in the half-year ending
June 30. The gross receipts of the half-year are £1,060,623,
and the gross expenditure £191,505, leaving a balance for
dividends of £569,118. These on the revenue accounts of
the different sections are available as follows :—On the Ber-
wick account, £160,722; on the Thirsk and Malton, £1,575;
on the York, £52,107 ; on the Leeds, £13,703 ; and on the
Carlisle, £36,785. Out of these sums the directors recom-
mend dividends at the following rates :—On the Berwick
ordinary stock at the rate of 41 per cent. per annum, leaving
£5,083 ; on the Thirsk and Malton, 4 per cent. per annum,
leaving £575 ; on the York at the rate of 3 per cent, per
annum, carrying forward £3,822 ;on the Leeds, per
cent. per annum, carrying forward £635, and on the Car-
lisle 6 per cent. per annum, with 2 per cent, to make the
dividend on the 4 per cent. preference equal to the ordinary
dividend, carrying forward £635. The Malton and Driflield
section receives no dividend, but, on the contrary, shows a
loss upon the half-year of £1,503, the total debt being now
£30,120. The directors congratulate the shareholders upon
the amalgamation with the Stockton and Darlington Rail-
way Company for the management of the district of this
company. The former board, with two North-Eastern di-
rectors, are to form a separate committee, The revenue ac-
count prepared by the Darlington committee shows a dis-
posable balance of £53,342, out of which is recommended a
dividend at the rate of 73 per cent. per annum, leaving
£1,902. Owing to the amalgamation with the Darlington
Company the proportions of the joint net receipts will in
future be as follows :—Berwick, 44'10 per cent. ; York, 25.41
per cent. ; Leeds, 7'72 per cent. ; Malton, 0'29 per cent.;
Carlisle, B'sB per cent.; and Darlington, 13.90 per cent.