The Sun.
London, England, 1863-02-11 00:00:00

LONDONDERRY AND ENNISKILLEN.

The half-yearly meeting of this company was
held yesterday at the office, Coleman-street-build-
ings, Moorgate-street, Mr. H. Laver in the chair.
The report, an abstract of which has appeared in
The Sun, was taken as read.
The CHAIRMAN, in moving the adoption of the
report, expressed his regret at the absence, from
illness, of Mr. J. Clay, the chairman of the com-
pany. With regard to the traffic, he remarked that
the Dundalk and Enniskillen Company completed
their junction with the Londonderry and Enniskil-
len Railway at the latter place in 1869, in which
year the gross traffic of the two companies amounted
to £80,520. In 1860 the Dundalk and Enniskillen
Company (now the Irish North-Western) leased the
Londonderry and Enniskillen Railway on certain
terms, and the gross traffic receipts on the two
lines amounted in that yea: to £87,173; in the year
1861 they amounted to £90,987 ; and although he '
could not tell the exact amount of the gross receipts
for the past year until they got the report of the
leasing company, he believed the amount for 1862
to be about £92,200. He thought that those figures
showed a favourable progress, particularly when it
was considered that they had had a succession of
very indifferent harvests. As the Finn Valley line
would be opened next month, and the works on the
Bundorah line were progressing favourably, he
thought they had a right to expect a great increase
opened
opened for traffic. The only outstanding liabilities
were in respect of land, and he was glad to say that
the solicitor of this company expected that they
would be all closed in the course of six months.
They had found no difficulty in converting the com-
pany's debentures as they fell due into debenture
stock, which he thought would be considered
satisfactory by the proprietors. They bad received
some compensation from the Londonderry and Cole-
raine Company for conducting their business in
the offices of the company.

Capt. WARREN seconded the motion for the adop-
tion of the report.
Mr. HEMMING thought it reasonable to expect
from the development of traffic some increase in the
rent after the end of the next 12 months, which
would enable them to pay off the arrears on the pre-
ference shares and the remaining liabilities of the
company more rapidly than heretofore. An increase
of only £6,000 a year in the gross receipts of the
two companies over and above £95,000 would
enable them to pay off 1 per cent, of the arrears,
The CHAIRMAN explained that under the lease
the company were to receive £26,000 a year for
three years from 1860, and after the end of that
period they were to receive in addition 20 per cent.
of the receipts of the gross receipts above £95,000 a
year, until they got a net sum of £33,000 a year,
which would pay 5 per cent. on the whole of their
share capital.

The report was then unanimously adopted; and
formal resolutions were passed declaring the full
dividends on the 5 per cent. preference B stock, and
on the 6 per cent. guaranteed A stock, for the past
half-year, payable on the 17th inst. ; and also at the
rate of 1 per cent. per annum on account of arrears
due on £247,737, stock B, on the 28th inst., the usual
indemnity being given to the directors in respect of
the payment of arrears.
A vote of thanks to the chairman and directors
terminated the proceedings.

MANCHESTER, SHEFFIELD, & LINCOLNSHIRE,
The total expenses of this company's railways,
including rents, tolls, duty, &c., from the Ist Jan. to
the Ist Feb., 1863, amounted to £27,901, as against
£27,792 for the corresponding period of 1862, The
proportion of the South Junction receipts accruing
to this company from the Ist Jan. to the Ist Feb.
amounted to £2,533 as against £2,408 for the corre-
sponding period of 1862, and the expenses to £1,093
as against £1,052. The total receipts, including rents
&c., of this company's canals from the Ist Jan. to the
31st Jan. amounted to £4,949 as against £4,984 for
the corresponding period of 1862, and the expenses
to £4,157 as against £4,269, leaving a balance of
net profit of £792 as against £715 for the corespond-
ing period of 1862.