The Sun.
London, England, 1865-07-06 00:00:00

INDIAN CARRYING (LIMITED).

The half-yearly meeting of this company was held
on Monday at the offices, Broad-street-buildings ;
Sir Macdonald Stephenson 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 that the two subjects in it which ap-
peared to require special notice were the comparative
degrees of success in the different Presidencies, and
the probable early requirement of additional capital
to meet the increasing demands of the traffic. As re-
garded the first question it had been correctly stated
the working in Bombay had been prejudicially af-
fected by extraneous causes, which were exceptional,
had been removed, and there was no fear of their re-
currence, while the progress in Bengal and the
North-West Provinces had been so great as to
have more than doubled the returns in one
year. The transfer of the Government bul-
lock train to the company would materially
increase the business, which would be conducted
with greater facility when the Allahabad bridge
over the Jumna was opened next month, as the ex-
isting break at that point in the East Indian Rail-
; way line had occasioned frequent delays in the
transmission of goods forwarded by the Carrying
Company. The second point referred to was the
additional capital which the Board requested powers
to raise when necessary, and it would be readily
understood that the great superiority enjoyed by
the Carrying Company over the native carriers
consisted mainly in their larger available capital, by
which they were enabled to carry on their work on
more favourable term; and with greater certainty
and despatch. A larger floating capital would also
be indispensable for the payments to the railways
and for advances of various kinds, which could not
be realised until after delivery of the goods. The
directors were satisfied with the progress made, be-
cause it was likely to be permanently progressive,
and the shareholders might rely upon their continued
earnest attention to the company's interests.
Mr. J. WALKER seconded the motion.

Some discussion ensued respecting the expediency
of raising more capital, in the course of which it
was stated that the business of the company was
growing rapidly, that it already existed over 3,000
miles of road, and it would be impossible to meet the
requirements of the increasing business without an
increase of capital. The surplus profits had occa-
sionally been used in enlarging the business.
The report was unanimously adopted, and a divi-
dend at the rate of 6 per cent. per annum (free of

income tax) was declared for the half-year ending
December 31, 1864, payable on the 20th inst.
The meeting was then made special, and on the
motion of the CHAIRMAN, seconded by Dr. ROSE, it
was unanimously resolved that the capital of the
company be increased by the creation of 25,000 new
shares of £2 each, and that such shares be issued
on such terms as the directors might think fit.
The proceedings concluded with a vote of thanks
to the chairman and directors.

VICTORIA STATION AND PIMLICO.
The report of the directors states that the London,
Chatham, and Dover Company had not yet re-
quired possession of the house, No. 1, St. George's-
road, and the settlement of the purchase was there-
fore still incomplete. The £7OO due by Mr. Kelk
on balance of account had been paid. The dividend
for the past half-year would be at the rate of 6; per
cent. per annum, and would be paid a month earlier
than usual. At the meeting in February last Mr.
Kelk gave notice of his intention to move at the en-
suing meeting that a sum of money should be voted
to the directors and solicitor, in consideration of
their services in raising the company to its present
satisfactory and secure position ; but, at the instance
of the directors, Mr. Kelk had withdrawn his motion.
The construction account showed a total expenditure
of £486,634, leaving £8,749 in hand.