The Sun.
London, England, 1849-08-03 00:00:00

ST. HELEN'S CANAL AND RAILWAY.

The annual meeting of this company was held on
Tuesday, at Liverpool, Mr. Gilbert Greenall, M.P., in
the chair.

The report of the directors congratulated the share-
holders on the result of the traffic on the canal and rail-
way during the past half-year, the increase in the re-
ceipts over the same period in the previous year being
2,1691., while the working expenses have decreased 1851.
The accumulated surplus fund was now 9,5131. The
directors had let the contract for the Blackbrook
branch much below the original estimate, and the
contractors had led them to expect its comple-
tion early in October. The management had undertaken
the reduction of the Widnes inclined plane, as well as
the formation of a branch to the Royal Colliery and the
Ravenhead plate-glass works, together with a short ex-
tension of the line into the town of St. Helen's. Exten-
sive progress had been made in the execution of all these
works. The report concluded:—
" The directors find it necessary to announce their in-
tention of making a further call on the 6 per cent. shares.
The paid up capital, being now about the amount at
which the borrowing powers can be exercised, the di-
rectors propose to avail themselves of the same. It will
then be competent for the directors to carry the present
surplus fund rateably to the credit of each shareholder
as a loan, bearing interest at 5 per cent."
The CHAIRMAN moved the adoption of the report.
The statement of the capital account showed that the
total amount paid up was 412,9571., whilst the balance
applicable to loans and dividends was 8,5364 He
thought they had every reason to be satisfied, as this re-
presented an earning upon the total capital of rather
more than 4 per cent. per annum.
Mr. C. HOLLAND seconded the motion, and reviewed
at length the financial prospects of the company. The
Blackbrook extension he stated, from which they might
naturally expect so great an increase of traffic, would
not cost in construction more than 13,0001.
The motion was unanimously carried.

Mr. W. C. FO BERRY moved a resolution empowering
the dirt ctors, so soon as one-half of the capital of the
company bhould be raised, to borrow such a sum as they
might deem expedient.
This resolution was seconded, and carried nem. con.
Mr. C. HOLLAND moved—
" That a dividend of 31. per share upon the old shares
:iiioatndn to of 31.
per share upon
the guaranteed
tohfel LprleOfze.rtunpeoen tshheahrea h a rslf(sinaeds
dividend of 5 per cent. secured to the latter), should be
paid. The divc4ends if unpaid after September next, to
bear interest at the rate of 5 per cent."

This was unanimously carried.
The five retiring directors were re-elected, Thanks

were voted to the auditors, and also to the directors and
secretary; after which the meeting broke up.

CORK AND BANDON.—The st section of this line
was opened for public traffic yesterda), from Bandon to
Btllinhassig, a distance or 94 miles. The remaining
di•tancii (9 miles) from Ballinhassig to Cork is per-
formed by omnibuses. The fares for the whole distance
between Cork and Bandon-181 miles—are, first class,
35.; second class, 25.; and third class, Is. 41.; and for re-
turn tickers, 55., 3.., and 2s. respectively.
NORTHERN AND SOITTHERN CONNECTING.—The Mai-
ter has appointed Mr. Goodchap, accountant, officiil
manager to wind up the affairs of this defunct scheme.
A sum of 33,6501. was received by the projectors and
provisional committee in the shape of deposits of
21. 12s 6d. on 12,725 shares. Of this 15,5381. was lodged
with the Accountant. General, but subsequently with-
drawn and distributed in the form of a 10s. return among
the contributors. The remainder was expended on plans,
surveys, engineers, and solicitors, the bills of the latter
amounting to 7,0001. There are una,certained assets
said to be at different bankers, but insufficient in amount
to liquidate still outstanding liabilities, the exact anaiiun,
of which it is the object of the present inquiry to dis-
cover and defray. There are Chancery suits also
amongst the directors to be settled.
THE ROYAL RAILWAY CARRIAGE IN IRELAND —This
vehicle, intended for the Royal travel over the Irish rail-
ways. has just been finished. It is a grand saloon, with
sofas, flower-stands, mirrors, and gilt mouldings within,
the panels being of
.a rich blue, striped in white through-
out. It is all of Irish manufacture, and lined with light
blue Irish tabinet. There are ante-rooms at both ends,
with the Royal and Irish arms in juxta-position.