The Sun.
London, England, 1848-08-29 00:00:00

ORLEANS AND BORDEAUX RAILWAY:

The annual meeting of this company was held on
Thursday at Paris; the Duke de Mouchv in the chair.
The report stated that the traffic on the portion of
their line open from Orleans to Tours produced a gross
return of 4,004,3981. (160,175/.) during the year from
the Ist of July, 1847, to Juno 30th, 1848. The receipts
were for 425,341 passengers 1,878,6381. 75c.; 125,141
tons of goods, 1,728,1431. 29c.; 147,915 bead of cattle,
397,6161. Of the passengers 18.25 per cent. were first
class, 38.81 per cent. second class, and 42.94 per cent.
were third class. During the first eight months the
number and receipts of passengers increased over that
of the preceding year, 1846-7. But from March Ist to
June 30th, 1848, a diminution is perceptible in the three
classes, which not only brings the returns below those of
the corresponding period to the preceding year, but
causes the whole amount of the passenger traffic to lose
the notable increase of produce which the first eight
months had begun to realise. These causes are directly
connected with political events. In April last,
the direc-
tors, with a view of increasing the traffic, lowered
the
fares throughout the line, the largest reduction being in
the third-class passengers, but experience proved the
scheme to be a failure, and they had in consequence re-
solved to charge the fares originally fixed.
The working expenses amounted to 2,567,617 f. 95c.
(102,7041.), leaving a balance of 1,563,146 f. Bc.
(62,5251.), from which must be deducted interest at 4
per cent. 780,0001. (31,200/0, which leaves to be divided
783,1461. Bc.; from which is to be taken 5 per cent., and
also three-fourths of the excess for the reserve fund,
leaving 185,9971. 20c. (7,450) to be distributed by way
of dividend, in addition to 2,001 f. from last account,
which gives as dividend If. 44c. per share; which added
to the interest paid at the rate of 6f. per share, gives a
total of 71. 44c. per share for the year. In 1846.47, they
had to suffer from the inundation of the Loire, from a
famine which alarmed the country, and from a financial
crisis which affected the whole of Europe. In 1848 they
had to undergo the effects of a revolution, which had
deeply shaken national work and industrial credit. The
banking-house with which the company bad been con-
nected for two or three years put a construction on the
treaty different from that which had been
i admitted in
their relations with it, and considered itself justified
in refusing the execution of the engagement entered
into, namely, the advance of 1,000,000 f. (40,0001.) By
employing the reserve in the payment of a part of the
securities, which have increased the assets, the direc-
tors preserved the credit of the company, and main-
tained in successful progress a line which during two
years and a half had been worked without accident.
with The t
hCell iaatari
shareholderssaid theon directorsth e
depressed deeply sympathised
position of
their affairs, and had come to the determination to give
up for the present, until matters should improve, 90,0001.
(3,6001.) out of the annual sum allowed them for their
management. They had expected to open part of the
line towards Poictiers early in 1849, but they had lately
received intimation from the Government that the
Minister e one
Minister of Public Works had determined to
railway works with the utmost energy. The
directors
now conceived that the portion of the line mentioned
would bo opened to the public about the end of the
present year, and it would be necessary to make a call
of 251. in October.
Resolutions were passed adopting the report, appoint-
ing three auditors for the current year, and approving
of the dividend of If. 44c. per share.

AMBERGATE, NOTTINGHAM AND BOSTON,
AND EASTERN JUNCTION RAILWAY.
Yesterday the half-yearly meeting of the proprie-
tors was held at Nottingham ; Mr. W. F. Norton in the

chair.
The Secretary, Mr. Govan, read the report of the
committee, which stated that the policy recommended
by the committee on the 19th of May last had been
adopted, and the board had confined their operations to
the prosecution of the works betweenßulwell and Grant-
ham. If the moderate calls recommended by the com-
mittee had been responded to, as the directors confi-
dently anticipated, the works would have been in a much
more forward state ; but the exertions of the board hdv-
ing been concentrated at the heaviest points, a few
months will suffice to complete this portion of the lino
whenever sufficient funds are provided. Tho affairs of
this company with the Grand Union Company are ap-
proaching completion; 1,3081. has been received, and the
board anticipate receiving shortly a further sum in settle-
ment of all demands. Reductions in the staff and office
expenses have been made during the past twelve months
amounting in the aggregate to 3,5501 per annum. The
accounts to the Bth of August showed that 292,1421. had
been received, and 282,798/. expended, leaving a balance
of 9,3441. in band.
The engineer's report stated, that on that portion of
the line from Nottingham to Bulwell (which is making
jointly with the Midlands Nottingham and Mansfield