The Sun.
London, England, 1865-02-13 00:00:00

VICTORIA STATION AND PIMLICO.

The half-yearly meeting of this company was held on
Friday at Duke-street, Westminster— Mr. W. Lee, M.P.,
in the chair. ,

The report, an abstract of which has appeared in 7he
Sun, was taken as read.
The CHAIRMAN, in moving the adoption of the report,
congratulated the shareholders upon the very prosperous
condition of the company. The directors had been enabled
to close the capital account, and having done this they
would now carry out their intended arrangements. The
company had realised everything that the directors had
anticipated, and the present dividend was the last small
one that the shareholders would have to receive.

Mr. BLYTH seconded the motion for the adoption of the
report, which was carried.

Mr. lima said that, considering the, very flourishing con-
dition to which the directors had brought the company, and
the good dividend the shareholders had received and were
likely to receive, he would propose- a motion at the next
meeting to the effect that £3,000 shOuld be *placed at the
disposal of the directors, to be distributed as they think
fit.

A dividend at the rate of 51 per cent. per annum was then
declared ; Mr. W. Lee, M.P., and Colonel Fledgate, the
retiring directors, were re-elected ; and Mr. G. F. Holroyd
was re-elected auditor.

The meeting was then made special, and the directors
were authorised to issue 41 per cent. debenture stock to an
amount not exceeding £137,500 for the purpose of extin-
guishing the mortgage debt of the company to a like
amount.

The CHAIRMAN proposed that in future the half-yearly
meetings should be held in January and July, instead of in
February and August, which was carried unanimously.
The proceedings terminated with a vote of thanks to the
chairman and directors.

ISLE OF WIGHT.

The half-yearly meeting of this company was held on
Friday, at 29, Great George-street, Westminster—Mr. J.
Simpson in the chair.

Mr. R. Hicks, the secretary, read the report, which stated
that the first portion of the line, from Hyde to Shanklin, a
distance of eight miles, was opened for passengers on the
23d August last, and although the summer was nearly over
the returns had fully equalled the anticipations of the direc-
tors. During the short period to the 31st December 91,624
passengers had passed over the railway, and the receipts
amounted to £3,577. The expenses included every item of
cost to the end of the year, and amounted, with the Go-
vernment duty and local taxes, to £1,828, leaving a balance
of £1,749. The directors had decided on charging the inte-
rest of two-thirds of the entire bond debt against the re-
venue from the date of opening, eight miles out of 12 miles
having been opened. It amounted to £464, leaving £1,285
to the credit of the current half-year. The facilities afforded
by the natural harbour of Brading, to which the short
branch was open, for the rapid and economical discharge of
heavy materials and coals, were such as to warrant the
directors in anticipating a considerable trade there; so soon
as the company's jetty and tipping stages at Brading were
completed, a further diminution in the cost of coals would
be effected. The directors hoped that by increased energy
the contractors would enable them to open the whole line
in time for the summer traffic. They had lodged a bill to
provide and work steamers of a superior class, and these
coupled with an improved service of trains between Lon-
don and Portsmouth, promised by the South-Western pom-
pany, could not fail very largely to increase the resort of
families to the island. The directors had also prepared a
bill for a short extension from the present very incon-
venient and contracted station ground at Ventnor to a
point singularly eligible both for Ventnor and Bonchurch.
The capital account showed that £162,129 had been ex-
pended. Mr. J. Fowler, the engineer, reported that from
Shanklin to Wroxall the works of construction were nearly
completed. The excavations of the Ventnor tunnel was
ready for the necessary brickwork. There would be no dif-
ficulty in completing the•works from Shanklin to Ventnor
for public traffic during the ensuing summer season.

The CHAIRMAN having moved the adoption of the report,
a long discussion ensued respecting the proposed extension
of the line into Ventnor. A memorial, signed by a num-:
ber of landowners, was presented by Mr. Moore against it,
while three other memorials wore presented to the direc-
tors, signed by a large number of the inhabitants of
Ventnor, in favour of the proposed extension.
Captain Huxsx explained that the proposed extension
would not destroy more than two cottages, and would
greatly increase the value. of the property in the district,
giving very great facilities to residents. The great difficulty
was to get enterprising, builders to erect suitable houses in
Ventnor and the neighbourhood to make it a second
Brighton.
Mr. MAXWELL said he believed it would be a great bless-
ing for thousands of invalids if suitable houses and other
accommodation were provided at Ventnor.
The report was adopted.

Mr. J. Simpson and Mr. F. H. Atherley, the retiring di-
rectors, were re-elected, and also Mr. Phillips, the retiring
auditor. The proceedings concluded with a vote of thanks
to the chairman.