The Sun.
London, England, 1847-09-17 00:00:00

EDINBURGH AND GLASGOW.

The general half-yearly meeting of the share-
holders of this railway was held on Tuesday, in Glas-
gow ; Peter Blackburn, Esq.,S;chairman of the com-
pany, presiding.
The SECRETARY read the report of the directors,
of which the following is an abstract:—
" The directors lay before the proprietors the ba-
lance-sheet for the half-year ending 31st July, 1847;
and although the dividend they can recommend is not
so large as they expected, yet they can congratulate
the company on an increase of receipts as compared
with a similar period last year. The traffic receipts
for the half-year ending 31st of July, 1847, were
89,2871. 9s. 6d., showing an increase over the half-
year ending 31st of July, 1846, of 4,6171. 17s. It
must be kept in mind that this increase arises with-
out any additional mileage being charged on the
Edinburgh and Glaagow line, or any increase in the
rates per mile, and notwithstanding a complete cessa-
tion of Union Canal traffic during the month of July,
1846, which added about 1,2001. to the revenue of
that half-year. The general depression of trade has
also had a large share in preventing a greater increase
in the revenue. Some idea of the extent of this may
be formed from comparing the number of passengers
in each class with those corresponding last year :
First. Second. Third. Total.
July 31, 1847 48,139 94,182 415,981 558,302
July 31, 1846 50,732 105,812 365,134 521,678
Though the total has increased, it is entirely on the
lowest class—the first and second having diminished
considerably ; nothing but the general desire to eco-
nomize can account for this. There is also a charge
made against revenue, to which attention is called,
viz., 2,979/. 16s. 7d. interest, accumulated on land un-
settled for since the opening of the line. This should
have been a charge against preceding dividends, and
might, perhaps with justice, have been spread over
some half-years to come. But your directors prefer
meeting such charges against revenue at once ; and
would only point out this as a deduction equal to one-
third per cent. dividend for this half-year—a charge
which cannot occur again.
The balance from revenue to 31st July is £47,034 12 7
To which add balance in hand on 31st
January

12,983 2 11

The disposable balance is ...
The directors recommend a dividend at
the rate of 6 per cent. free of income-
tax, or

60,017 15 6

... £52,734 7 6

Leaving a balance to be carried to the
credit of next half-year. of ... X 7,283 8 0
On the line and plant Mr. Adie reported that the
works on the main line of the railway were all in
excellent order, that the Shieldhill branch had lately
been opened for the coal trade from the fields into
which that line has been carried, and that the Stirling-
shire Midland Junction branch Lad been let to Mr.
Alexander M'Donald, and that the work was to be
completed in eighteen months. By the diligent re-
pair of the engines now in possession of the coroparY,
notwithstanding that many of them are too light foren
the traffic, the trains had for the last six mopths_bf__
very regularly worked. During- that period, 333_2_
passenger trains had run ; and out of that number
_. Ven3
trains were late to the extent not exc.eedingt
minutes-33 to the extent not exceeding fifteen
minutes—and only 41 trains were
. more than fifteen
minutes late-3,165 trains having. been punctual, or
within five minutes of the proper time. A good stock
of second and fourth class carriages had lately been
added to the plant, as well as a number of new goods
waggons. The directors then remark that it was
most satisfactory to be able to state that the trains
had run with such regularity during the last six months,
and that 558,302 passengers had been carried without
a single casualty. Mr. Latham, late secretary of the
Manchester and Birmingham line, has been appointed
manager. Referring now to the external relations of
the company, the directors have to regret the loss of
the Bill introduced by them authorising an increase
of capital, and the holding of that stock in other lines
which was found by them in the company's posses.
sion. As the Bill was lost, it will be necessary to
apply in the next session for powers to raise a certain
amount of additional capital. In the meantime, the
directors are disposing of all shares held by the coin-