The Sun.
London, England, 1847-09-28 00:00:00

ULSTER.

The half-yearly meeting of this company was held
on Thursday, at Belfast; Mr. J. Goddard in the chair.
The SECRETARY read the report, which stated that
the traffic returns for the half-year ending 31st of
August were 22,1151 Os. 11d., and the expenses of
working the line 8,3251. 12s. 9d., leaving a balance of
net profits of 13,7891. Bs. 2d. Out of this sum the
directors recommend a dividend of 245. per share be
declared, which will leave 1,3291. 16i. 2d. to be added
to the reserved fund. The directors congratulated
the company on the progressive increase of their traffic.
During a period of severe depression this railway has
not only maintained, but considerably added to, the
amount of its receipts in both departments of its 'trade.
Past experience, therefore, falrly warrants the expec-
tation, that when the railway was open to Armagh,
that a very large addition would be made to the
business of the Ulster Railway—an increase more than
commensurate with the outlay r: quired to complete
it. By this extension districts of the country hitherto
comparatively unaffected by it will be brought within
its influences, and so long as Belfast maintains its pre-
eminence as a mercantile town this railway must
participate in its prosperity, Along with the increase
of receipts, particularly in the goods department,
there has keen an increase in the working expenses.
On comparison with the expenses of the previous
half-year this increase of expenses is not proportionate
to the increase of trade ; for while the expenses of
the previous half-year amount to 391 per cent. of the
gross receipts, those of the late half-year amount to
371 per cent. That there was a most unequal pres•
sure in the goods traffic, it having been necessary in
the spring to send out very frequently extra trains,
which increased the cost of working. The inconve-
nience, too, attending the alteration of the old line of
rails to the new gauge has also led to increased ex •
penditure. When the alteration has been com-
pleted, and a double line of rails thus available
through the whole distance, the luggage trains will
be able to run with the same regularity as the pas-
senger trains. The directors are informed by Mr.
Dargan that the extension to Armagh will be ready
for opening in the course of a very few weeks ; they
are most anxious that net a single day should be lost
in opening this important addition to the line at the
present season of the year.
The engineer's report stated that the railway had
been worked with great regularity, and that the line,
the engines, and working stock of the company were
in excellent order ; that the traffic had been trans-
ferred from the broad to the narrow gauge without
interrupting its regularity; that the alteration of
the old line of rails to the new gauge had been nearly
completed. The alteration of the old engines, to
adapt them to the narrow gauge, was in actual pro-
gress. Three of them have been completed, and are
ready for work. The line from Portadown to
Armagh was to be ready for opening in the first week
of November.

The capital account to the 31st of July showed that
622,496/. had been expended on the railway.
The CHAIRMAN moved the adoption of the report,
which was seconded and agreed to. After which,
resolutions were passed, approving of the dividend of
245. per share; placing 3771. at the disposal of the
directors, as a remuneration for their services ; and
re-electing six out of seven retiring directors, and
electing one new director in the room of the one who
retired.
The Rev. Mr. FITZGERALD made some observations
on Sunday travelling, and concluded! by moving
" that it be discontinued in future.,
No one appearing to second the motion, it fell to
ground.
The CHAIRMAN said, in answer to a question, that
besides one train, morning and evening, on Sundays,
there was also a mid-day train ; that there was now
no more Sunday travelling by rail way than there was
when the coaches ran along the, road ; and besides
that the engines did not require so much brushing up
and cleaning as the horses. He considered that it
would prove a great inconvenience to the public if
Sunday trains were discontinued.
Thanks were voted to the Chairman, and the meet-
ing separated.