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

GREAT EASTERN.

The second half-yearly meeting of the amalgamated com-
pany will be held at the London Tavern, Bishopsgate-street,
on the 13th instant, at one o'clock. The revenue account
exhibits the following :—Receipts, £720,249 16s 8d; expen-
diture, £352,772 13s 8d ; total, £367,477 3s. Less—Pay-
ments to Northern and Eastern and other companies, and
interest on guaranteed and preference stocks, mortgagee,
&c., £323,165 is 11 d ; balance, £44,312 is ld. The above
balance of £14,312 is ld, together with the sum of £15,190
19s sd, the surplus after the payment of the dividend for
the half year ending December 31 last, make a total of
£59,503 Os 6d; this amount, less the deductions set forth
in the general revenue account, will admit of a dividend for
the half- year at the rate of £1 5s per cent. per annum being
paid on the ordinary stock of the company. This will require
452,246 15s 3d, leaving £3,256 5s 3d to be carried forward.
The expenditure on the capital account for the past half-
year has been chiefly incurred for the purchase of land
for the new lines, and in payment for works executed
under the contract for their construction. In addition to
which a sum of £34,132 has been expended for rolling
stock required to meet the exigencies of the service, and
for the working of the extra mileage since the Amalga-
mation Act. The working expenses for the half-year are
£4B, 19s 7d per cent. The rolling stock continues to. be
maintained in a state of efficiency. The revenue of the
amalgamated lines for the past half-year exhibits an in-
crease of £28,289 over the some period of 1862. As regards
the permanent way, the engines and bridges, the directors
see no reason for departing from the principle explained to
proprietors at their last meeting, but they now propose, for
the first time, to lay aside a large annual sum as a provision
for keeping up the rolling and other working stock, thus
affording to the proprietors a correct basis whereby to judge
of the prospects of the undertaking; and it is the opinion
of your directors that the results of the past half-year, tak-
ing all the circumstances into consideration, are of a satis-
factory character. When the last report was made the
amount of the claims of the Eastern Union and East Suffolk
Railway Companies, which had been referred for settlement
to Capt. Galton, had not been ascertained. The directors
were, however, enabled at the subsequent meeting to report
the amount of stock which had been awarded to the East
Suffolk Company; and subsequently they were enabled to
pay to the shareholders the dividend then declared, Capt.
Galion having determined the amount of fixed charges
attaching to the Eastern Union Company, which exceeded
by £4,178 per annum the amount at which they had been
taken in arranging the terms of the amalgamation, and one
moiety of that sum was therefore deducted from the dividend
upon the amount of stock allocated to them. An applica-
tion was afterwards made on the part of the representatives
of the Eastern Union Company to set aside Capt. Galton's
award. This application was dismissed by Vice-Chancel-
lor Wood ; but upon an appeal to the Lords Justices, which
came on for hearing on the 24th day of July last, their lord-
ships were pleased to grant the application for setting aside
Esq., Rich. Paterson, Esq.,
the award. It will consequently become necessary that the
matter shoull be again investigated by Capt. Galton, and
until his award is obtained the payment of the dividend to
the shareholders of the Great Eastern Railway Company
must be postponed. Four of the directors,
. viz., Samuel An-
derson,and E.
in accordance with the Act,
8111:SGhaeZjElsqe.1,Yrent'ire by rotation at this meeting ;
the two former, being eligible, offer themselves to this meet-
ing for re-election. The vacancy caused by the retirement
Esq., is, m accordance with
of Richard Paterson, Esq., is,
to be filled up by the board of directors of the Northern and
Eastern Railway Company ; and the vacancy. caused by the
retirement of William H. Shaw,
the Act, to be filled up by the East Anglian proprietors.
One of the auditors, Henry Soper, Esq., retires at this
meeting, and offers himself for re-election- At the conclu-
sion of the half-yearly general meeting, special meetings
will be held for the purpose of obtaining the sanction of the
proprietors to the measures which are set forth in the ad-
vertisement.