The Sun.
London, England, 1863-08-21 00:00:00

TAFF VALE.

The report of the directors states that the accounts for the
half-year ending the 30th of Juae show a disposable bal-
ance of £45,918, out of this sum the directors dedu ted £750
for the depreciation fund, and declared a dividend at the
rate of nine per cent, per annum on the ordinary stock anti
and C shares, payable on the 7th of September, and upon
the preference stock, No. 1, payable on the Bth of October
next, leaving a balance of £1,344. The new works upon
the main line greatly facilitated the despatch of traffic. The
bill for leasing the Penarth Harbour Dock and Railway by
the company, after a strong opposition in both Houses of
Parliament, received the Royal assent on the 22d of June
last, and measures were being taken for carrying out its
provisions. The directors had proposed to work and main-
tain the Llantrissant and Taff Vale Junction Railway, and
pay to the proprietors 5 per cent per annum interest upon
the share capital, the interest on the debenture debt for the
time being, and an annual payment of £250 for expenses of
management. As a large traffic from the Dare Valley
Railway would travel over the whole length of the Taff
Vale line, the directors proposed to work and maintain it,
and to offer the company an interest of 5 per cent. upon the
paid-up capital, the current interest on debenture bonds,
and £l5O per annum for expenses of management. The
capital account showed that £1,503,365 had been expended,
leaving a balance against the company of £16,600. The
revenue account for the half- ye:,r ending the 30th of June
showed that £134,732 had been received, and £67,728 ex-
pended, leaving a balance of £67,004,

LLANTRISSANT AND TAFF VALE JUNCTION.
The directors' report states that they have been in com-
munication with the directors of the Taff Vale Railway
Company, for the purpose of ascertaining upon what terms
they would be willing to undertake the working of their
railway, which, by the engineer's report, will soon be ready
for the conveyance of traffic. The Taff Vale directors have
offered the following terms—viz., that the Taff Vale Com-
pany should undertake the maintenance of the Llantrissant
Railway and works, and the the entire management, and
pay the Llantrissant Company 5 per cent. per annum upon
their share capital of £40,000, the interest upon their deben-
ture debt for the time being, with an additional annual pay-
ment of £l5O for expenses of management; the agreement
is to commence with the opening of the railway for traffic,
and to be in force for 10 years. The Llantrissant directors
recommend the adoption of these terms. The capital ac-
count shows that £43,000 has been received, leaving a
balance of £5,733. Mr. G. Fisher, the engineer, reports
that the line will be ready for mineral traffic by the Ist of
September next, and the Llantwit Collieries are prepared to
send coal.

ALTON, ALRESFORD, AND WINCHESTER.
The half•yearly meeting of this company was held at
Alton on Tuesday. The report, whim was adopted, stated
that the construction of the line had been vigorously pro-
secuted during the past six months. Much progress had
been made in the land arrangements,and the company were
in a position to give the contractor possession of nearly the
whole of the land zequired for the railway. The works at
the Winchester end of the line, near the junction with the
main line of the London and South-Western Railway, had
been commenced, and upwards of two miles of land at that
part of the line were in the contractor's hands. The direc-
tors were using their utmost exertions to insure the earliest
possible completion of the line between Alton and Aires-
ford, and, if possible, to open that part of the line in the
course of the autumn of next year. Since the 30th of June,
upwards of £lO,OOO had been expended on land and works
In addition to this, there were large quantities of materials
which had been delivered on the line, but which bad not
been certified by the company's engineer. The report of
Tolme, the engineer,stated that the two sections from Alton
to Alresford and from Alresford to Winchester were let in
one contract of 17 miles. The contractors were now em-
ploying upon the works 30 horses and 400 men. The com-
pletion of the large cutting at Windmill-hill would deter-
mine the time at which the line would be ready for open-
ing. He was satisfied that the contractors would use their
utmost endeavours to have the line opened at the earliest
possible moment. The expenditure amounted to £19,750,
leaving a balance of £1,403 on the 30th of June last at the
bankers.