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

SOW H YORKSHIRE.

The half-yearly meeting was held at thei 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
\Vharncliffe.

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 upo❑ the railway 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. Tne 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 fLund the accounts
of the railway clearly end 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 arrangc-
ment with the Great Northern Company, and tee
communication from Mr. Hadfield referred to in ti e
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 IlooLE seconded the amendment.
After some discussion a show of hands was taken
for the amt-ndment, the result being that there were
5 for, and 34 against.
The report was then carried with four dissentients.

Mr. HADFIEI.D asked what security was propoaed
to be given to this company by the Great Northern ?
Was it to be merely Great Northern preferential
stuck, or would care be taken by the directors that
they had the security of their own property in
addition?

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