The Sun.
London, England, 1862-02-08 00:00:00

NORTH-EASTERN.

The half-yearly meeting of this company was held yes-
terday at York—Mr. H. S. Thompson, M.P., in the chair.
The report having been read,
The CHAIRMAN said that the diminution in the gross re-
ceipts, the increase in the working expenses and in interest,
had together produced a diminution in the dividends of
three-quarters per cent. on the Berwick stock, a half per
cent. on the York stock, and a quarter per cent. reduction
on the Leeds section. The decrease in receipts had taken
place chiefly in the goods and the mineral department, the
largest being in the goods, and that diminution had occurred
in three distinct parts of their system—the first being the
Hull imports, the second the West Hartlepool imports, and
the third the grain and potato trade from Scotland. The de-
crease in the traffic from Hull applied to almost every article,
but far the most largely to grain and timber, the grain being
the largest of all. The quantity of grain imports into Hull
during the last six months of 1861 exhibited n falling off as
compared with the corresponding half of 1860 of 3,417,776
bushels. The West Hartlepool traffic was very much of
the same character. During the last four months of 1860
an extra train was run daily from Berwick to York, with
grain and potatoes, but that traffic had altogether ceased,
and upon that the receipts were diminished by £3,747. The
principal cause for the diminution in this traffic was that
there was a better harvest in England last year than in the
year before, there not being such large quantities of foreign
corn required. With the exceptions to which he had
alluded, the general traffic showed a steady increase. He
referred to the influence on the traffic by the depression of
trade, and submitted that the increase in the working ex-
penses had been unavoidable. He stated that along with
the additional facilities which had been afforded to the
public there had been a considerable increase in the pas-
senger traffic. The amount that had been laid out on the
Tyne Docks was approaching £600,000, and the company
had realized 4 per cent. on that outlay. They had besides
100 acres of land reclaimed and reclaimable, warehouses,
&c. He alluded to the increase in the quantity of coal
shipped at Newcastle and Sunderland, and concluded by
moving that the report of the directors be received and
adopted.

After a rather lengthy discussion, the motion was carried

mnimously.

A dividend (less income-tax) at the rate of 5 per cent, per
annum for the half. year ending the 31st of December was
declared on the Berwick stock, of 4 per cent, per annum on
the Thhsk and Mallon stock, of 41 per cent, per annum on
the York stock, and at the rate of 2/ per cent. per annum on
the Leeds stock.

The directors were authorised to construct a line through
the Tean Valley to Gateshead, and also a branch railway to
connect the Company's Pensher branch with shipping places
in the river Wear.

The directors were authorised to proceed with a bill for
the continuation of the Market Weighton Branch to Bever-
ley, provided that £40,000 of the company's 4 per cent. stock
was subscribed for by responsible parties, and that the prin-
cipal landowners would agree to sell their land on terms
satisfactory to the directors. They were also authorised to
subscribe £2,000 towards the construction of a bridge and
tramway across the harbour at Hull.
After the directors retiring by rotation, and also the audi-
tor (Mr. A H. Aylie), had been re• elected, a vote of thanks
was given to the chairman and directors, and the meeting
separated.

STOCKPORT, DISLEY, AND WHALEY BRIDGE.
A special meeting of this company was held yesterday
at the office, Leadenhall-street; Mr. R, R. Notman in the
chair.

The CHAIRMAN moved a resolution to the effect that the
directors be authorised to borrow on mortgage, under the
provisions of the Stockport, Disley, and Whaley Bridge
Railway Extension Act, 1857, any sum or sums of money
not exceeding in the whole £66,600.
Mr. HOWARD seconded the motion, and it was carried.
The meeting then separated.