The Sun.
London, England, 1853-09-15 00:00:00

EAST ANGLIAN.

The half-yearly meeting of this company was held yes-
terday, at the London Tavern—Mr. H. Bruce in the
chair.

The Secretary read the report, which stated that the
receipts for the half-year, including a balance of 7601.
from the last accounts, amounted to 12,6951., which,
after payment of interest on loans, 101. preference shares,
and 7 per cent. stock, together with the other expenses,
left a balance of 4,0141. to the credit of revenue.
The company are empowered by the recent act to extend
the harbour branch of the railway across the river Nar
and along the quays of Lynn, which will not only afford
increased facilities for landing coals and other goods, but
by bringing the railway close to the extensive warehouses,
flour-mills, and timber-yards on the banks of the Ouze
and Mill Flat, will increase the traffic into Lynn. The
act also provides for the arrangement of the general
account of the company and the settlemant of all arrears
on the preference shares up to the 31st of December
next. It is the intention of the directors, provided the
solicitors' bills be finally adjusted before the end of the
current half-year, to close the capital account, and to
open a new capital account for the works authorised by
the new act, and for such other works as the increase of
traffic may render necessary. The report alludes to pro-
ceedings being taken against the former solicitors of the
company to compel the taxation of the bills. It states
that the crop of barley in Norfolk promises to yield
abundantly, and that the position of the farmers in that
diatrict is greatly improved by the increase in the price
of stock, wool, and grain. They therefore look forward
to an improvement in their traffic. The capital account
shows that 1,365,040/. had been received, and 1,356,9751.
expended, leaving a balance of 8,0651. The revenue
account for the half-year ending 4th July showed that
20,2211. had been received, and 8,2911. expended, leav-
ing a balance of 11,9351., to which is added 760, from
the former account, making 12,6951.
The CHAIRMAN, in moving the adoption of the report,
congratulated the proprietors on the increase of traffic
during the past half-year, and also during the eight
weeks since the 4th of uly, which latter showed an
increase of 10 per cent, over those of the corresponding
period of 1852. They were far from being satisfied with
that result, and they hoped they should have a further
increase, but in order to do so they must afford greater
accommodation to ships and vessels. The estuary was
opened last month, but other matters would have to be
done in order to admit larger ships to Lynn at all times
of the tide. They were anxious to develope the fish
trade at Lynn, which trade had increased at Yarmouth
tenfold since last year. They hoped to do so by afford-
ing additional accommodation to the fishing boats. His
friend Mr. Simpson was attending to that branch of
trade, and he had no doubt he would bring it to a suc-
cessful issue. They were also making arrangements for
the carriage of millions of bricks from Lynn to London ;
the brick earth at the former place was inexhaustible,
and labour was cheap, so they expected that they would
derive something from that source. With regard to
their future prospects, it was expected that a line to
Hunstanton, facing the German Ocean, and having great
advantages as a sea-bathing place, would b
ultimately
carried out, which would tend increasee pleasure
the r on
of
the
traffic over their line. After some obeservtations with
regard to the probable reduction of interest
de-
bentures, he concluded by moving the adoption
report.
resolu-
tions were passed, adopting the report ; declaring a
Mr. L. SIMPSON seconded the motion.
After some observations from Mr. HERAPATH,
per annum on the
dividend at the rate of 5 per cent.
101. shares, and of 7 per cent. per annum on the Class
A. shares ; and authorising the issue of 269,2061. of ordi-
nary stock in payment of arrears on preference shares.
The proceedings concluded with a vote of thanks to
the chairman and directors.