The Sun.
London, England, 1865-02-28 00:00:00

KENT COAST.

The half-yearly meeting of this company was held yes-
terday at the Victoria Station, Westminster; Sir C. Roney
in the chair.

The report stated that the receipts from traffic for the six
months ending Dec.3l last enabled the directors, after pay-
ment of debenture interest and general charges, to apply a
balance of £20,468 in payment of a dividend at the rate of
6 per cent. per annum on the B stock, amounting to £8,990;
at the rate of per cent. per annum on the A stock, £7,563;
and at the rate of 5 per tent. on the new ordinary shares,
£1,347, making together £17,900, and leaving £2,568 for
the next account. The contractors' accounts were closed,
with the exception of some few charges arising from the
requirements of the Board of Trade at Ramsgate. The
traffic had been worked by the London, Chatham, and Dover
Company in a perfectly satisfactory manner. The capital
account showed that £904,122 had been expended, leaving
a balance of £1,220. The revenue account showed that
£54,044 had been received during the half year ending Dec.
81, and £27,022 or 50 per cent. had been paid to the London,
Chatham, and Dover Company for working it, leaving a
balance of £27,022.
The CHAIRMAN, in moving the adoption of the report,
congratulated the shireholders on its being so favourable.
After paying all the general charges, and the whole of the
interest on the debenture debt, they had a balance of
£20,468, which enabled them to pay at the rate of 6 per
cent. per annum on £299,680 B stock, at the rate of 5 per
cent. per annum on the £302,500 A stock, and also the same
rate on £66,000 new ordinary shares, leaving £2,568 to be
carried forward. The directors were much gratified at the
way in which the lessees had worked the traffic. When ad-
ditional trains were wanted they were immediately put on
and every facility was given "to develope the traffic to and
from Ramsgate, Margate, and Broadstairs. The connection
with the Metropolitan and Great Northern Railways, which
would be completed in June next, would afford great faci-
lities for persons and their families in the northern districts
of London passing over the line to the watering-places on it.
Mr. HOLROYD seconded the motion for the adoption of
the report. _

In reply to a question, it was stated that the line was
leased for 999 years, on terms that had been agreed upon.
The interest on the B shares was fully secured on the cur-
rent half-year, and there could be no doubt of it afterwards.
The report was then unanimously adopted, and the divi-
dends recommended therein were declared payable, less
income tax.
Sir M. Prro explained that the dividend on the £60,000
new shares ranked equally with that on the A stock. Ho
thought it right to tell his brother shareholders that the
agreement between them and theChatham and Dover Com-
pany had worked most advantageously for both parties.
Tho Kent Coast Railway brought a large amount of traffic
over the Dover Company's main line, and the working of it
had given great satisfaction. With regard to the B shares,
there was a balance of £2,568 less towards the dividend for
the current half-year, in addition to which the dividend for
the first three months of it was guaranteed, and as the traffic
was increasing there could be no doubt that it would be
well covered, leaving a balance over. There was a perfect
mutuality in the working arrangements, and so far it had
proved that a branch line could be constructed so as to be a
great source of profit to the parent line. (Hear, hear.)

The retiring directors and auditors were then re-elected,
and the proceedings concluded with a vote of thanks to the
chairman.

COCKERMOUTH, KESWICK, AND PENRITET..

The half-yearly meeting of this company was held at
Keswick on Wednesday ; Mr. T. A. Hoskins in the chair.
The report congratulated the shareholders on the open-
ing of the line for passenger traffic, on the 2d January last.
The bridges and other works had been well tested, and the
whole railway greatly consolidated by the running of heavy
mineral trains over it for several weeks prior to the open-
ing for passenger traffic. The expenditure on capital ac-
count, including the cost of the hotel, at the end of last
year, was £297,420. The directors believed that the cost
of the line would be about £lO,OOO a mile, which was
largely in excess of the engineer's original estimate. An
additional sum of £45,000 would be required to complete
the expenditure, which would then be much less per mile
than other lines in the district.

The CHAIRMAN, in moving the adoption of the report,
said the traffic was now approaching .£2OO a week, and
would be considerable in the summer.

The report was adopted, the directors were authorised to
furnish the hotel, and the proceedings concluded with a
vote of thanks to the chairman.

SOUTH STAFFORDSHIRE.

The half-yearly meeting was held on Friday at the Euston
station ; Mr. R. Moon in the chair.

The total expenditure during the half-year had been
£39,661, making the total expenditure on capital account
£1,641,064. Dividends at the rate of 41 per cent. per annum
on the ordinary shares, and at the rate of 5 per cent, on the
B shares, were declared ; and the retiring director and au-
ditor were re-elected.

MORET ONHAMPS TEAD AND SOUTH DEVON.
The half-yearly meeting was held at Newton Abbot on
Wednesday ; Mr. J. Divett presided.
The report stated that possession had now been obtained
of the necessary land throughout the entire length of the
line, and the contractors had made arrangements to pro-
ceed with the works with all possible expedition as soon as
a more favourable state of the weather would enable them
to do so. Of the special share capital of £25,000, about
£B,OOO remained unappropriated, for which the directors
were open to applications. The receipts and expenditure
to the 31st Dec. last amounted to £60,771.
The report and statement of accounts were unanimously
adopted, and Mr. T. Woollcombe, the retiring director, and
Mr. Bowring, the retiring auditor, were re-elected.