The Sun.
London, England, 1863-02-07 00:00:00

HULL AND HORNSEA.

The second half-yearly meeting of this company
was held on Tuesday at Hull, Mr. J. A. Wade in the
chair. The report congratulated the shareholders
upon the completion of the necessary capital, and
the advantageous letting of the works, which were
being actively carried out, so as to have the line
ready for the summer traffic of the present year.
The capital cost of the line would be greater than
had been expected, owing to greater prices being
asked for the land than had been anticipated. The
directors considered it for the interests of the com-
pany that building at Hornsea should be encour-
aged, and also that first class hotel accommodation
should be provided. The engineer's report showed
that the chief works on the line were in a forward
and satisfactory state. The financial statement
showed that £18,074 had been expended, leaving a
balance of £5,724.

The CHAIRMAN, in moving the adoption of the
report, said they had now only about £lOO of the
capital unissued. The purchase of land, which was
promised at an agricultural value, had given them
much trouble, amounting, as it had done in many
cases, to extortion. There were, however, honour-
able exceptions—gentlemen who had met them in
a liberal spirit, who were now convinced of the uti-
lity of the line, though opponents at the outset.
Mr. EGGINTON seconded the motion, which, after
some opposition on the ground that a director who
owned land at Hornsea had received, on the award
of an arbitrator, £2OO an acre, was carried.

Mr. Brooshooft and Mr. Sykes were then elected
directors, and Mr. Stourton re-elected auditor. The
proceedings closed with thanks to the chairman.

GREAT NORTHERN AND WESTERN OF

IRELAND.

The report of the directors states that the exten-
sion of the line from Claremorris to Castlebar had
been opened for public traffic on the 17th of Dec.
The works between Castlebar and Westport were
progressing, and preparations were being made for
letting the contract for the section between Castle-
bar and Ballina, so that the works might be pro-
ceeded with as expeditiously as possible. The gross
earnings during the half-year amounted to £11,392,
and the working expenses to £5,929. The avail-
able balance for interest and dividend amounted to
£5,802. It was proposed to pay a dividend at the
rate of 5 per cent. per annum, less income-tax, upon
£2,160 celled up on the preference capital; and
also a dividend at the rate of 2 per cent. per annum,
free of income-tax, upon the called-up ordinary
capital of the company, leaving a balance of £165.
The great and constant irregularity in the arrival
of the trains since the opening of the line to Castle-
bar had been generally complained of. The traffic
of the line had been latterly much depressed, which
was attributed to the general poverty of the country,
occasioned by several bad harvests. The report of
Messrs. Fowler and Barry, the engineers, stated
that the contracts between Athlone and Castlebar
had been completed in a most satisfactory manner,
and that the Westport Extension was being vigor-
ously proceeded with. The capital account showed
that £437,449 had been expended.