The Sun.
London, England, 1853-09-17 00:00:00

SCOTTISH CENTRAL.

The half-yearly meeting of this company was held at
Perth, on Thursday, the Hon. J. C. Dundas, chairman
of the company, in the chairman.
The CHAIRMAN moved the adoption of the report,
which was published in The Sun on the 12th instant.
The revenue was favourable, though hardly so much so
as he had anticipated. This might be accounted for by
the attraction of tourists to Ireland by the Dublin Ex-
hibition, so that there were fewer travellers in Scotland
this year. But, on the other hand, their goods traffic
had exceeded their expectation, and since the half-year's
accounts had been made up it had gone on increasing
at the same ratio. He thought, therefore, that the
directors were fairly warranted to take from the re-
serve fund the small sum required to make up the
proposed dividend, as they had the best reason to
expect that they would make it up on the next half-
year's receipts. During last session the company had
obtained a bill to convert their debenture debt into
stock ; but, owing to the state of the money-market, the
directors had not availed themselves of its powers. Such
was the excellent state of their credit that they had no
difficulty in obtaining money at 3Y per cent. There
would be submitted to the meeting the draft of a work-
ing agreement with the Scottish Midland. The two
lines were naturally only the continuation of one line,
and it would be for the benefit of both that a closer con-
nexion should subsist between them. In conclusion,
he congratulated the shareholders on the prosperous
condition of the line, and he had no doubt that
its prospeperity would be progressive, or that in 10
years hence it would pay a dividend which at present
none of them could anticipate. he moved the adoption
of the report, and of the draught of the working agree-
ment with the Scottish Midland ; also, a dividend at
the rate of 4 per cent. per annum, to be paid on the 26th
inst.
Mr. BRUCE, of Kennet, seconded the motion, and after
a brief conversation it was unanimously agreed to.
The working agreement with the Midland contains a
clause to the effect that both companies shall apply for
an act of amalgamation. After some discussion it was
carried, by 12 to 10, that a special meeting be called to
decide on this matter. This was all the business of im-
portance, and after a vote of thanks to the chairman the
Imeeting separated.

NOTTINGHAM STATE OF TRADE.—The lace trade in
most superior branches is as flat as it well can be ; and
little improvement is anticipated prior to the commence-
ment of next business season in October. It is not ex-
pected that, except as respects a few German buyers,
the state of matters just developed on the Continent
ought materially to affect the Nottingham lace trade.
As for the American and Australian orders our mer-
chants are totally at a loss to see how it can interfere
with these. Not so, however, the buyers—amongst
whom business has sunk into great inactivity, as they
are unwilling to make purchases until something definite
is ascertained regarding the Turkish question. The ad•
vance in material seems progressive. The hosiery trade
is now within a fortnight of the American season.
At the close of the present, or in the first week of
next month, the American buyers will begin to flock
in, and their orders to come to hand ; and the pros-
pects of the trade being very favourable, the hosiers
are in active preparation for the ensuing market. About
four weeks ago, as our readers are aware, the wrought
goods hands came round with a list of prices for an ad-
vance of wages, to which their employers generally
assented. Last week the hosiers voluntarily made a
second advance, exactly doubling the first, which has
been confirmed by the trade and accepted by the hands.
Upon these rates the various houses in the trade are now
engaged framing their lists ; and within the next fort-
night they will probably submit them to the London
houses for the shipping purchases. Stocks being low,
and material as well as labour high, the hosiers will ap-
proach the London houses, therefore, in a very indepen-
dent position—for they can say, " Here are our lists of
prices as dictated by circumstances." If orders are given
they can manufacture for the spring, and if not they
seem to be tolerably indifferent. We have no doubt,
however, that the price lists will prove no obstacle to a
good course of business. Yarns still continue firm.—
Notts. Guardian.
DISCOVERY OF VALUABLE PAINTINGS.—The Tuscan
Monitore announces the discovery of several precious
paintings by Giotto in the Cappella dei Bardi in the
Church of Santa Croce. They were partly covered with
white wash, and partly concealed by two cenotaphs.
These paintings represent figures of saints, symbolica 3
devices, a St. Francis in a vaulted ceiling, and six great
compositions illustrative of the life of that saint.
A FAIR WARNING.— Galignani states that a manu-
factory of imitation Champagne wine, made from the
rhubarb plant, has just been established near Epernay.
It is to manufacture four or five thousand bottles a
week, at 45 centimes a bottle.