The Sun.
London, England, 1865-02-01 00:00:00

LLANELLY.

The half-yearly meeting of this company was held yes.
terday at Radley's Hotel,
New Bridge-street ; Mr. J. Bid
dnlph in the chair.

The report stated that the earnings of the company during
the half-year ending Dec. 31 were £18,165, showing an in-
crease of £1,255 over the corresponding half of 1863, and
the working expenses, including the hire and purchase of
waggons, were £8,727, being a decrease of £4lB, leaving
the profit on working £9,438, to which was added the
balance from the preceding half-year, £lB5, making a total
of £9,623. After payment Of £3,341 for interest on deben-
tures and rent of Vale of Towy Railway, there remained a
surplus of £6,282 for dividends, out of which was de-
ducted X 1,840 for dividends, at the rate of 5 per cent. per

annum on the A preference stock and B preference shares,
and £3,940 for a dividend on the ordinary stock; at the
rate of 4 per cent. per annum, leaving a balance of £502 for
the next account. The income of the company for the
whole year 1864 was £35,131 as compared with £31,658 in
1863, showing an increase of £3,473. A bill for the ensu-
ing session was intended, among other things, to empower
the company to purchase by agreement a branch railway
of nearly a mile and a half in length, known as the Rhos
branch, with a view to convert it into a public railway as
part of the system of the company, and thus to open out a
district from which coal and ironstone might be brought
in considerable quantities to the main line. A bill pro-
moted by the Carmarthenshire Company had powers in-
serted in it to enable the Llanelly Company to make a
railway of about one mile and three-quarters in length,
to connect the Carmarthenshire Railway with the com-
pany's St. David line. Trains had been running over
the entire length of the Carmarthen line, but the narrow
gauge had not been laid over the whole of that portion of
the Carmarthen and Cardigan Railway which the company
must use to pass their trains to Carmarthen and to the junc-
tion with the Great Western Railway near that place. The
operations on the Swansea lines had been carried on with all
the vigour that circumstances had allowed, and the endea-
yours of all parties were directed to provide for traffic pass-
ing over the line at an early period. The capital account
showed that £360,015 had been expended on the main line,
£382,502 on the Swansea lines, and £182,983 on the Car-
marthen line ; total, £925,500.
The CHAIRMAN, in moving the adoption of the report,
congratulated the shareholders on the improved position of
the company. The net earnings for the past half-year were
very nearly sufficient to pay a dividend at the rate of 4
cent. per annum on the ordinary stock. The new lines
were not yet completed, but they hoped that early in May
the Swansea branch would be ready for traffic.

Resolutions were passed adopting the report, and declar-
ing a dividend on the ordinary stock :at the rate of 4 per
cent. per annum, payable on the let of March. The retir-
ing directors, Mr.J. Biddulph, Mr. C. W. Christie, Mr. J.
Overend, and Colonel Miller, were re-elected.
The meeting was then made special, - and the directors
were authorised to raise £30,000 by the further issue of 5
per cent. B preference shares for the purpose of purchasing
branch railways, additional rolling stock, and building new
offices. The lease for the Vale of Towy line not being ready
for sanction by the shareholders, the meeting was adjourned.

LONDONDERRY AND ENNISKILLEN.

The directors of this company state in their report that

the rent of the railway for the six months, £13,000, has
been received from the Irish North-Western Company by
weekly payments, less income tax. Such moneys as were
not immediately required for the use of the company were
placed to a deposit account, the interest of which amounts
to £49 10s. 2d. The transfer fees for the six months have
amounted to £2 10s., these, added to the balance brought
forward from the last account, of £lB2, give the gross total
of £13,234, which appears to the debit of the revenue ac-
count to the 31st of December last. From this amount of
£13,234, the cost of conveyances and land, office expenses,
and the interest on loansdrom Government, and on deben-
tures, amounting together to £4,136, have been charged,
leaving a disposable balance of £9,098 towards the payment
of dividends and arrears. The directors recommend that
the dividends, at the rate of 5 per cent. ;per annum, to the
31st of December, be declared, and paid on the 18th of
February, on the £3,062 10s. Stock B ; also the dividends
at the rate of 6 per cent. per annum on the £31,850 Stock
A ; also the dividends, at the rate of 5 per cent., together
with 11 per cent. on account of arrears, making 6iper cent.
per annum on £247,737-10s. Stock B. After the payment
of these dividends and arrears, there will remain a balance
of £l4 for the next account. The expenditure on capital
account amounts to £708,351.