The Sun.
London, England, 1849-10-12 00:00:00

RO YAL MAIL STEAM-PACKET

COMPANY.

The general half-yearly meeting of the proprietors
of this company took place yesterday at the London
Tavern, for the purpose of receiving the report of
the directors and the declaration of a dividend for the
last half-year. In the absence of Andrew Colville,
Esq., the chairman of the company, Thomas Baring,
Esq., M.P., took the chair, and the usual formal
proceedings having taken place,
The SECRETARY read the following report :
" The results of the working account for the first
half of the present year, which have already been fur-
nished to each proprietor, approximate in the aggregate
so nearly to those for the same period of last year,
that there is very little to comment upon in a report ;
and where the service has proceeded with so much
regularity since the last general meeting, it seems un-
necessary to detain the proprietors with explanations
upon matters of trivial detail, which necessarily vary
from year to year according to change of circum-
stances. Upon the present occasion, therefore,
it may be sufficient to state, that while the total
disbursements show an increase of 326/. 19s. 4d., and
the receipts a decrease of 1,0811. 35. 101., leaving the
surplus 1,406/. 3s. 2d. less than the first half of last year,
yet this trifling difference is smaller than could have
been expected, looking at the depressed state of the Bri-
tish West India colonies, the active competition which
the company has now to encounter upon some of its
lines, and the great obstruction occasioned by vexatious
quarantine regulations at Havannah. It is also gratify-
ing to add, that while the receipts from passengers have
been in some branches considerably diminished, the defi-
ciency has nearly been compensated by the increased
receipts on account of freight.
"During the present year the Eagle has been so
thoroughly repaired as to be nearly rebuilt, her engines
put into first-rate order, and new boilers fitted on board,
so that this ship may now be relied upon to perform in-
tercolonial service for some years.
" The Conway has also been home, had a thorough
overhaul, caulking, doubling, and coppering; and her
speed so greatly improved as to equal, if not to surpass,
that of any other ship belonging to the company. The
Conway, like the Eagle, has again taken up the inter-
' colonial service, and may be relied upon for as long a
period.

" The whole of the company's other ships are alto
maintained is the highest state of efficiency.
" To replace the schooner Lee, the directors have pur-
chased a new schooner, called the Esk, fitted with steam
engines and a screw propeller; which vessel it is hoped
(by the aid of such auxiliary power) may be so employed
hereafter as to remunerate her cost and maintenance.
" The negotiation respecting the conveyance of the
Brazil mails has been unexpectedly prolonged by the ap-
pointment of a Committee of the House of Commons to
inquire into the Contract Packet Service in general, as
no arrangement could be made until such Committee
had presented its report. This difficulty however being
now removed, it is believed that matters will soon be
brought to a satisfactory conclusion. As the directors
are therefore unable to make any fresh communication
on this subject, they must rely on the continued confi-
dence of the proprietors that the interests of the company
will have constant and careful attention.

" In conclusion, the directors recommend that a divi-
dend of 21. per share, exclusive of income-tax, be de-
clared; to be payable on and after the 16th inst."
The CHAIRMAN then moved the adoption of the
report, and that it should be printed and circulated
among the proprietors.
Mr. RIDGWAY, in seconding the adoption of the
report, congratulated the proprietors on the coming
of a good time, and stated that it only bore out his
prophecies.

The CHAIRMAN then put the adoption of the re-
port, and in declaring it to be unanimously adopted,
congratulated the company on the state of their
a irs.
'hanks were then ♦oted to the Chairman and
directors, and the meeting separated.
The following is the working account of the com-
pany from the Ist of January to the 3oth of June of
the present year :

DISBURSEMENTS.
Coals—Freight and all Charges ,
Wages ... ... ... ... ••
Provisions ... ... ...
Stores ... ••• ... ... ...
Port Charges and Pilotage ... ...
General Service and Stations ... ...
Coal-sacks, &c.... ... ... ...
Office and Law Expenses ... ...
Salaried ... ... ... ... ...
Insurance „. ...
Repairs of Ships and Machinery ...

... £30,528 15 7
22,329 15 8
... 32,130 9 6
5,564 3 0
3,260 1 3
7,933 17 11
261 3 1
1,053 8 0
5,655 6 0
12,500 0 0
18,776 3 0

Surplus ... ...

£149,083 3 0
66,046 14 0

£215,129 17 0