The Sun.
London, England, 1851-09-01 00:00:00

SOUTH YORKSHIRE.

The half-yearly meeting was held at the Cutlers'
Hall, Sheffield, on Saturday. In the absence,
through indisposition, of Earl Fitzwilliam, the chair-
man of the company, the chair was taken by Lord
Wharncliffe.
Mr. HANFIELD, the secretary, read the report, of
which the following are the material portions :
The directors' report stated that the net revenue for
the six months ending 30th of June last amounted
to 20,2341.95. 5d., being sufficient with the balance
remaining on hand, after paying the fixed dividends
and annuities on the navigation and canals, to allow
of a division upon the rail way shares at the rate of
3 per cent. per annum. The main line to Barnsley
was complete, and passenger trains commenced run-
ning between that town and Doncaster on the Ist
of July last, the traffic being worked with the plant
of the Great Northern. The holders of navigation
shares, who have hitherto received a fixed dividend at
the rate of 4 per cent. per annum, will from the date
of such completion share in the general profits of the
undertaking, on the same terms as the other share-
holders. Such of them, however, as may desire still
to enjoy a permanent dividend at the same rate as
heretofore, are enabled to do so by accepting the offer
made to them early in the present year, which offer
was now repeated, and the period within which it may
be accepted extended to the Ist day of November
next. A few days ago they received a com-
munication from Mr. George Hadfield, of Man-
chester, conveying certain proposals for the lease
of the undertaking, purporting to emanate from
the Midland and Manchester, Sheffield, and Lincoln-
shire Railway Companies. Considering the agree-
ment already existing between this company and the
Great Northern Company, which agreement received
the sanction of the proprietors on the 11th of April
last, the directors felt they were not in a position to
entertain any other proposal to which that company
was not also a party. The quantity of coals carried
during the six months had exceeded 100,000 tons,
and the directors anticipated a considerable increase
on this tonnage during the current half-year.
The auditors reported that they fuund the accounts
of the railway clearly and properly kept, and consi-
dered them correct. With regard to the river Dun
accounts, the auditors believed them to be substan-
tially correct, and that the amount exhibited as a ba-
lance available for dividend was a just one.
The CHAIRMAN moved the adoption of the report,
and went at considerable length into the arrange-
ment with the Great Northern Company, and the
communication from Mr. Hadfield referred to in the
report.
Mr. HADFIELD moved, as an amendment, that the
further consideration of the report be adjourned to a
special meeting, of which notice should be given, at
which meeting also should be considered the proposal
of the Midland, Manchester, Sheffield, and Lincoln-
shire Companies.
Alderman HOOLE seconded the amendment.
After some discussion a show of hands was taken
for the amendment, the result being that there were
5 for, and 34 against.
The report was then carried with four dissentients.
Mr. HADEIELD aske€l what security was proposed

to be given to this company by the Great Norther❑ ?
Was it to be merely Great Northern preferential
stock, or would care be taken by the directors that
they had the security of their own property in
addition? . .

•41,•••••,••••• •
The CHAIRMAN said the agreement had not yet been
draw❑ up, but the directors would take care that the
proprietors had the greatest possible security.
The meeting, after affirming the declaration of the
dividend recommended in the report, terminated with
a vote of thanks to the Chairman.

LLYN VI VALLEY.
On Friday the half-yearly general meeting of the
proprietors of this railway was held at the offices,
%Vest Strand ; Sir R. Price, Bart., M.P., in the
chair.
The SECRETARY commenced the proceedings by
reading the report, which alluded in the first place
to the Royal assent given to the Bill which had been
approved of by the shareholders at a former meeting.
It directed attention to the reduction which had been
made in the tolls on this line, and to the issuing of a
debenture for 4,5001. to the South Wales Company,
in lieu of the share capital held by them—interest
is to be at 4 per cent. In the accounts of the past
half-year it would be found that the gross earnings
have experienced a small increase, and the expenses
a slight decrease, as compared with the previous
half-year. The net balance of 1,9721. ls. 6d.
carried to the general revenue account as the profits
to the 30th of June last, with the balance at the credit
of that account, made a total sum of 2,1911. 14s. 11d.
now at disposal.
The retirement of Mr. Matthews from the chair-
manship of the company was notified with regret;
the duties would be undertakan by Sir R. Price,
Bart., M.P.

The capital account showed that a sum of 113,0461.
had been expended, and that there was a balance to
credit of the company of 2,5231. From the revenue
account it appeared that the receipts for the half-
year had been 4,0301., and the expenditure 2,0581.,
leaving a balance of 1,9721., which, added to the ba-
lance from last half-year of 2191., left an amount
available for dividend of 2,1911.
Upon the motion of the Chairman the report was
received and adopted.
The Camßuari moved that the directors be autho-
rised to issue a mortgage under the common seal of
the company to the South Wales Railway Company
for 4,5001. upon such terms as they might think ex-
pedient.
The resolution was put and carried.
Upon the motion of the Chairman a dividend of 4
per cent. was declared, the same to be payable on
and after the 29th of September.
The Rev. Mr. KNIGHT asked the reason why the
same dividend as before (4i per cent.) could not be
paid on the present occasion ?
The CHAIRMAN said it was explained in
roe report.
He then moved that the best thanks of the pprietary
be given to Mr. Matthews, for the able and efficient
manner in which he had presided over the interests of
the company during his chairmanship.
The motion was unanimously agreed to.
The Rev. Mr. KNIGHT then gave notice that at the
next general meeting he would move the following
resolutions :
" That in consequence of the altered circumstances is
the relative position of the new and old proprietors
under the provisions of the late Act of Parliament, the
mcnagnment be remodelled, and the number of the dircc-
tors rednced to seven, and that their cullectivo remune-
ration shall not exceed 2001. per annum.
" That for the future the general business of the con-
cern shall be carried on in some locality convenient, to
the port and railroad, and that the London office be given
up on the shortest posinle notice."
After a vote of thanks to the Chairman the meeting
separated.

EAST ANGLIAN.
The usual half-yearly meeting of this company was
held at the London Tavern on Saturday ; H. Bruce,
Esq., in the chair.

The report, of which the following are the principal
portions, was taken as read ;