The Sun.
London, England, 1854-02-23 00:00:00

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EAST LANCASHIRE.

The ordinary general halflearly meeting of the East
Lancashire Railway Company took place
,yesterday after-
noon at the head offices of the company in Bury. Mr.
Thomas Dugdale presided. An abstract of the report has
already appeared in The Sun..
The CHAIRMAN congratulated the company that they
had assembled to declare a larger dividend than they had
ever yet received since the company was established. The
rolling and other stock had been kept in efficient repair
during the half year out of revenue, although thus ex-
penses had exceeded by 4,5001. the cost of the previous half-
year. The revenue had been well collected, only 3,0001.
out of 73,0001. for merchandise remaining outstanding.
On the subject of the amalgamation with the Lancashire
and Yorkshire Company, the report gave all the informa-
tion the directors could at present give. They thought
that they should amalgamate on equal terms, and be-
lieved that it would be for the interest of the proprietors
in both companies that the two lines should be worked
under one management ; but when the terms of amalga-
mation had been fully arranged, a meeting of the company
would be called, at which the terms would be laid before
them and their consent to the proposition would be for-
mally asked. He moved that the report and accounts be
received and entered on the minutes.
Mr. FENTON, director, seconded the motion.
The report was adopted, and a dividend of 31 per cent.
' per annum on the capital stock of the company was carried.
The retiring directors—Messrs. T. Ashton, J. R. gay,
Mr. J. Feilden, M.P., and J. Holt, were re-elected. Mr.
Wm. Bates was re-elected auditor, and 2001. was ordered
out of the capital stock to be paid to the benevolent fund
of the company's servants.
This concluded the business.

OXFORD, WORCESTER, AND WOLVER-
HAMPTON.
Yesterday the half-yearly meeting of this company was
held at the London Tavern, Bishopsgate-street, Lieutenant-
Colonel Rushout, M.P., took the chair.
The report, which has already been published, was taken
as read.

The CHAIRMAN passed in review the various items of the
report, and said he had never given the proprietors reason
to expect more than theynow saw. Their position certainly
was not very flattering. The report showed the necessity
of raising nearly a million sterling. The meeting must
consider the great expense the company had been put to
for a double gauge, which outlay was at present compara-
tively useless. But the duty of the proprietors was now to
look their difficulties fairly in the face and be prepared to
meet them. The money now required must be raised.
They had at present the legal means of raising for addi-
tional works to complete the line, 960,0001. This could be
raised by the new shares of 101. each, three of which to be
offered to each holder of 1001. stock as now proposed. It
would be seen by the report of the engineer and traffic su-
perintendent, that this was essentially a goods line. Allow-
ing this to be the fact, it was clear that their railway was
not half developed for the purpose. If that were done the
passenger traffic would no doubt be developed in propor-
tion, but the goods traffic would be immensely increased,
going as it did through the great iron and coal districts.
It must be a source of congratulation to them that a
second dividend had been declared ; and he thought he
should not be considered over sanguine if he said that he
saw before him the prospect of an early dividend to the
original proprietois, as well as to the holders of preferen-
tial stock. (Hear.)
A PROPRIETOR asked if that would be forthcoming at
the next half-yearly meeting.
The CHAIRMAN would not like to limit himself exactly
to that time. (Hear, hear, and laughter.)
After some discussion the CHAIRMAN moved the adop-
tion of the report and accounts.
Mr. JOHN PARSON seconded the motion.
After some conversation the report was adopted.
A dividend of V. 15s. per cent. for the half-year on the
preference stock was agreed to unanimously.
The meeting was then made special for increasing the
capital by 500,0001. by the creation of new shares of 101.
each. Some discussion took place, during which Mr. PAR-
SON said that they were pledged only to raise one half or
250,0001. of the new capital during the present year.
The resolution for the increase of capital was then car-
ried unanimously.
Mr MOWATT, M.P. then moved, and Mr. OLD seconded
a vote of thanks to the chairman and directors, when the
meeting adjourned.

BUCKINGHAMSHIRE.
The half-yearly meeting of this company was held yes.
terday at the railway station, Euston-square, the Hon. P.
S. Pierrepont in the chair.

Mr. LONG read the report. of which the following is an
abstract :

The bill promoted by the London and North-Western Com-
pany, for the junction between the Buckinghamshire Railway
and the narrow gauge of the Oxford, Worcester, and Wolver-
hampton Railway, near Oxford, received the Royal assent in
August last. The works have been pushed on vigorously,
and will be ready for traffic in March next, thus affording
an unbroken communication between the metropolis and.
the mineral districts of south Wales. The London and
North-Western Company are now laying down addi-
tion rails between Bieester and Claydon, thereby com-
pleting the double line throughout to Oxford. They are
also making a short Spur line to connect the London and.
North-Western Railway with the Buckinghamshire Railway,
at a point a short distance south of the Bletchley station
These measures will, the directors believe, tend greatly to fa-
cilitate and develope the traffic, and promote 'the interest and.
prosperity of the Buckinghamshire Company. The revenue
account to the 31st of December last shows that the half-year's
rent received from the London and North-Western 'Railway
Company to the 30th of June, 1853, being at the rate of 4
per cent. per annum on 1,245,0001., was 24,9001., which,
added to 9671., the balance from the former account, amounted.
to 25,8671. The dividend paid to the proprietors amounted
to 24,5801., and left a balance of 1,2871.

The CHAIRMAN, in moving the adoption of the report,
said the traffic on the railway was progressively increas-
ing. The junction line between their line and the Oxford,
Worcester, and Wolverhampton Railway would come into
operation early next month, which would have the effect
of increasing the traffic on the line, by bringing an en-
tirely new traffic upon it. The spur line at Bletchley,
when completed would enable them to convey through
traffic from Worcester and South Wales to London with-
out the usual delay at the station, which would save ten
minutes in time to every train. (Hear, hear.)
Resolutions were passed adopting the report; re-elect-
ing Viscount Duncan, Mr. G. C. Glyn, M.P., Mr. H.
Humphreys, Mr. J. F. Ledsam, and Rear-Admiral Moor-
sow, the retiring directors ; and also Mr. R. Carter and
Lieutenant-General M'lnnes, the retiring auditors.
A vote of thanks to the directors concluded the proceed-
ings.