The Sun.
London, England, 1863-02-12 00:00:00

VICTORIA STATION AND PIMLICO.

Yesterday the half-yearly meeting of this com-
pany was held at the offices, Duke-street, Westmin-
ster, Mr, W. Lee, M.P., 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, said they had now brought themselves
nearly to the close of their outlay, something like
£7,000 only having to be paid to Mr. Kelk for the
completion of the station. The rents from the
London, Chatham, and Dover and the Great
Western Companies would progress until 1867, the
rent increasing about per cent. per annum until
1867. The rent in that year would be £32,000.
Although they had a very large station, they
found that the public required greater facilities
than were now afforded to them, and on this sub-
ject the directors had had several meetings with the
Brighton and
,the London, Chatham, and Dover
authorities for the purpose of carrying out some
further arrangements to satisfy the public demands.
(Hear, hear.) The result was a provisional agree-
ment that, should the Brighton and the Chatham
and Dover Companies obtain the bill they had pre-
sented
payto h
this sesstioins
om
tcowpidaenny
£1,125 perthethem
aßurniughton
would in
perpetuity, commencing 18 months after the open-
ing of the new portion of the line. The arrange-
ment would bring the Victoria Station Company to
this very satisfactory position, of having ulti-
mately £33,125 per annum, or about 9 per cent.
on the ordinary stock.
Mr. J. ELGER seconded the motion, which was
carried unanimously.
Mr. W. Lee, M.P., and Mr. G. Witt, retiring
directors, and Mr. G. F. Holroyd, retiring auditor,
were re-elected, and the dividend of 21- per cent.
for the half-year wai declared.
A vote of thanks to the chairman and directors
closed the proceedings,

BRADFORD, WAKEFIELD, AND LEEDS.
The report of the directors staves that the expen-
diture of capital during the half-year has been
£7,021 making a total of £284,630. The directors
recommend the payment of a dividend at the rate
of 7 per cent. per annum on the capital stock of the
company, which with 4 per cent. per annum ma the
Ossett Preference Stock, will leave a surplus of
£1,647.

conveningi n rfthhee chhaal fi -tr: e
meeting
was held
R. A. Heath
--
SAN PAULO (BRAZILIAN)-
Mr. Hillier, the secretary, having read the notice
yesterday, atctahrelYZneedtoiannngidoaftvietiher ni s
report,—comi rp .
gadbnadotthoinregl
attoe,abd
ed
wt oo tut;
de
report.
Citinf IhßeAriAi
aNds aalndyht
he
inh
do so ; and if he had anything good, he would men-
tion it. They were, in fact,
going on in a steady
routine way with the undertaking. They might
wish to know the result of the experiment of allow-
ing the shareholders to pay up on a certain number
of their shares in advance. The amount in advance
was £l2 per share, so that there might be no fur-
ther calls upon those shares. This arrangement
was carried out with complete success. The num-
ber of shares which had been paid up in full, £2O
per share, was 17,073 shares, leaving 82,927 shares
with £8 per share paid. There was a considerable
discussion at a former meeting on this point, but he
thought the shareholders were very nearly unani-
mous on that occasion, and the result was most sa-
tisfactory. The property of the company had in-

.anagement, were entitled to the best thanks of the
shareholders. The property had not only risen in
value in respect of shares paid up in full, but also
in respect of shares that had only £8 each paid up.
He believed that a really good well managed foreign
Government line was much better for investment
than a badly, any-how managed English railway,
which was liable to have other lines granted by
Parliament within a few miles of it to destroy the
the property of the shareholders.
Mr. FRANKLIN thought that the paid-up shares
might be converted into stock.
The CHAIRMAN said they were much obliged to
Mr. Franklin for the suggestion of allowing share-
holders to pay in advance on a certain number of
their shares, but the company had no power to con-
vert the paid-up shares into a consolidated stock.
They could not call up money unequally ; when the
usual call was made they had power to accept money
in advance on some of the shares to the amount of
the sum called up. They could not convert shares
into stock until all the calls on the shares were paid
up.

In reply to a question it was stated that the capi-
tal of the company was 221000,000, the contraettfor
the works and engineering would not exceed
£1,800,000, so there would be a margin for contin-
gencies. The seven per cent. was guaranteed by
the Government, and the amount of it would con-
stitute a separate amount, independent of the capi-
tal of £2,000,000, and would have to be provided
for by the Government, either by shares or loans.
He apprehended it would be by debentures. The
directors hoped they would be able to save time in
the construction of the railway ; they were allowed
four years beyond the time specified for with the
contractor, and they expected to have the works
completed before the time allowed the contractor.
the report was then unanimously adopted.
Mr. Alderman Dakin and Mr. E. H. Galsworthy,
the retiring directors, were re-elected.
The proceedings concluded with a vote of thanks
to the chairman and directors.

The Weather.—Sun Office, Feb. 12, 1863.