The Sun.
London, England, 1851-01-18 00:00:00

Leavirg a baltrlce of
Deduct reserve fund

Balance for dividend

The practice of this company having been to divide in
each half-year the amount actually earned, and not to
carry forward a large rest, with a view to equalizing
the dividends, the directors do not feel warranted in pro-
posing any deporture from this practice, and accordingly
they recommend a dividend of 21. 12s. per cent. for the
halt-year, amounting to 120.0061., leaving a balance to
the credit of the current half-year of 4,248/.
The directors refrain from offering any anticipations
on the prospects of the present year, as, in consequence
of the Great Exhibition, it will, in all probability, be one
of unusual character. They will only state their belief
that, in preparing for an unusual influx of traffic, by en-
larging and improving the working stock, and in exert-
ing themselves to extend the accommodation afforded to
the public by the railway, and to earn a high character
for the punctuality, efficiency, and liberality of its ar-
rangements, they have been adopting prudent precau-
tions, which will not be disappointed uy the result.
The commencement of the year with improved pros-
pects appears a fit time for bringing under the considera-
tion of the proprietors the adoption of measures calcu-
lated to promote the welfare of the men in their employ-
ment, and to identify their interests more closely with
these of the company.
As regards the principal officers, first-class station
clerks, &c., it is proposed to adopt the principle of
making the advance of salaries depend on theladvance of
dividend in each year, above that of the year 1849 taken
as the standard: so that for an advance of 1 per cent. of
dividend, they should receive an advance of 25 per cent.
on their salaries, or in that proportion.
As regards the other servants of the company, such as
porters, policemen, switchmen, guards, engine-drivers,
office end station clerks, &c., the most important object
appears to be to secure some retiring pension in the
event of their being disabled or superannuated in the
company's service. The best method of meeting this
difficulty appears to be, to commence without further
delay the accumulation of a "Benevolent Fund," out of
which retiring pensions may be assigned to deserving
men disabled by age or accident, after a certain number
of years of faithful service.
The directors propose, as a general rule, to secure to
each man placed on the superannuated list a pension
not exceeding one-third of the amount of his wages or
salary, and to give gratuities, its certain cases, to the
widows or orphans of men dying in the service. For
this purpose they recommend the proprietors to sanction
the appropriation of 1,000/. annually towards a " Be-
nevolent Fund," which, with the accumulation of in-
terest, would, they believe, be sufficient to meet the ob-
ject in View.
Tee directors also propose that henceforth the com-
pany should become their own insurers against fire,
charging the revenue account each year with the amount
of premiums which would have been paid to effect in-
surances with the established offices, by which the heavy
amount of duty will be saved, and the various risks
better protected than they ever can be in the ordinary
course of insurance, where the disposition and value of
the property aro necessarily subject to so many changes.
Three of the directors, Edward Crowley, Req., Beau-
mont Elankey, Esq., and Captain the Hon. George Fre-
derick, ilothatn, R.N., retire by rotation, and being
eligible for re-election, offer themselves accordingly,

0,1,e of the auditors, William Mantleld, Esq , retires
by rotation, iv:6 being eligible for re-election, will offer
himself accordingly.

MINING INTELLIGENCE.
(From the Mining Jew nal of this day.)
An average amount of business has been transacted
this week, and at higher prices generally fur divi4end
mines. The tendency of prices :is still to advance fog all
the leading and favourite mines of both classe-, high can
only be checked by monetary derangements, since every
day is rendering this business more safe, and cortri-
bating to its steady advance in public estimation. Tier°
have again been some important discoveries, and im-
provements in several mines in the Devon and last
Cornwall district, and new concerns, in consequence;are
announced for public patronage. Capitalists will do vell
to be advised; we recommend, as usual, the utmost cau-
tion in investing in purely new concerns.
In the metal market copper is steady, with a moderate
amount of business. Tin is very firm ; an advance ez-
peered. Lead fully maintains its with a linyted
supply. A fair krusine!:.s has been done in spelter. Fo-
reign tin and tin-plates somewhat easier.
The Bryntail Mine sold 18 tons of lead ore, at 11/.
4s, per ton, The Herodsfoot, 75 tons, at 12/. 3s. (d.;
and the Tamar Mines, 73 tons, at 18/. Eis. 6d. per ton.—
The Pentire Glaze Mines sold 30 tons of lead ores to the
Tamar Company, at 101. 9a. 6d. per ton.
The Foxdale (Isle of Man) lead ore, 100 tons, realised
12/. 11s. 6d. per ton, and the same quantity from the
Newtonard's Mines sold for 111. 3s.

An immense piece of rich lead ore, weighing upwards
of 35 cwts., was last week brought to surface at the
Grassington Minkis, Yorkshire. It is from Devonshire's
vein, and an excellent specimen of the constituents, sot
only of that, but of lead v,:ins in general, and as such
will form an interesting feature a,t the Industrial Exhi-
bition.

Two shipments of rich quality copper ore, about 800
tons, have arrived at Swansea, consigned to the Cobre
Company.
The sale of black tin from the Mineral Court Mine
realised 3041 12s. 4d.

Important discoveries of rich tin ore are making in
Wheal Vincent, in a level of 10 fins. carried under the
stream works, now in successful operation; and the fur-
ther development of the mine will, it is expected, be still
more important, when the new shaft is sunk to 20
fathoms, and the lode driven upon.
The recent discovery in Rixhill is in the 40 fm. level,
and about 40 fins. went of the western boundary of the
United Mines, Tavistock, and is worth about 1301 per fin.
It can be cut deeper than discovered, from the 20 fm.
level i❑ the United Mines, and all the lower levels can
be brought forward in a very short time as deep as
the 90.

A valuable discovery is reported at East Crewedale,
in the 40 fin. level east, the produce of the lode in which
is stated at 60 per cent. of tin, and worth from 1201. to
1301. per fm. It is most productivein the bottom.
From the recent inspection of Tregorden, it appears
that-the lode in the 30 fin, level is large and very pro-
mising, being rich also in sumo places for silver load ore
and has in general much improved lately.
In Old Pollak rro, according to the report, the lode in
the ground above the 27 fin. level has considerably im-
proved within the last few days. The month's produce
of tin is estimated at 25 tons. Four pitches have been
set on the copper lode.
At South Josiah a fine branch of copper ore has been
discovered in driving the Edit level west.
At Wheal Penhale an important discovery has been
made in opening on a new counter lode, intersected in the
30, which is worth 401. per fm.
The Merllyn agent's report is highly favourable; and
the returns of ore will, it is stated, exceed the previous
calculations. From one pitch alone more than 15 tons of
ore have been broken by the men during the week.
A company has been formed fur working the Weston
Lead Mines, situate in Salop and Montgomeryshire.
But little expenditure, it is anticipated, will be needed
to develope the resources of the mines. The first meet-
ing, to determine on future operations, will take place on
Monday.
At the Alfred Consols meeting, on Monday, the ac-
counts for the two months showed—Balance from last
account, 419/. 17s. 3d; ores sold (less dues), 3,371/. Os. Bd.;
sundries, 61. 18s. 1d.=3,797/. 16s.—To costs and mer-
chants' bills for Oct. and Nov., 1,392/. 18s. 81—By
dividend of 81. per share (2,0481.), leaves balance carried
to next account, 3561. 17s. 4d. It was resolved that the
future supplies to the mine should be subject to,the list
of prices cuarged in the Great Consols and the United
Mines, as far as may be practicable. From the agent's
report the several ends continued equally valuable with
the previous week, and the several trioute pitches equally
productive and promising.
At the Great Consols Mines meeting, on Wednesday,
the accounts for Nov. and Dec. showed—Balance from
lust account 2,1271. 175.; ores sold (less dues), 5,677/.
16s. 9d.=----7,8051. 13s. 91—Mine cost and merchants'
bills 6,5331. 10s. Id. ; leaving balance in favour of ad-
venturers, 1,2721. 3s. Bd.
At the W heal Comfort meeting, on Tuesday, the ac-
counts showed—Balance from last account, 4871. 19s. Id.•
ore money (less dues) to 0ct.24, 1,3981. 15s. 9d.--=1,886/.
14s. 10d.—Costs and merchants' bills for August, Sep-
tember, October, and November, 1,6171. 2s. 9d.—leaving
balance in favour of the mine, 269/. 12s. ld.

The Herodsfoot accounts, 'as made up for the three
months ending November, show—Lead ores raised in
Sqtember and sold in October, 9291. lls. 6d.; raised in
October and sold in November, 9301.; ditto November
and sold in December, 9131. 2s. 61; copper ores, 401.

2,8321. 14s. The costs for September, October, and
November were (including dues. &c.) 2,691/. 7s. 6d.;
leaving profit of 1411. 6s. 6d. The istat,,:inent of assets
and liabilities show—Cash in hand, 3001. 12s. 9d. ; ar-
rears of calls, 171 10s.; value of copper ores raii.ed in
November, 401 = 33C/. 2s. 941. Dues, 14S1. 25.; doctor
and club, 401.; balance of assets over liabilities to and of
November, 1701. 9s. In these accounts, the manager
explains that the dues charged are for four months,
rushing a difference on the debit side of 451.; also the
expenses incurred in the erection of a now boiler house,
301; and also 90/. charged in November cost towards
the new boiler. Divesting the expenditure of these
items, as not forming a part of the actual cost, but for
permanent works, and as an addition to the plant, the
real amount of profit on the three months' woikings
would be over 3001.

At the West Wheal Friendship meeting a committee
was appointed to adopt measures to carry out the recorn-
mendatione of the mine agent, among which was one
that a new shaft he sunk to cut the lode in the 43 fm.
level at greater depth. The water has been drawn out
to the back of the 43 fm. level. A call of it per share
was made,in order more effectually to develope the mine,
in accordance with the views of the agent.
At the Great Wheal Baddern meeting, held at Man-
chester on Wednesday, the accounts showed-Balance
last meeting, 1,0681. 134. 3d.; mine cost for two months
(including merchants' bills, &c.), 1,4071. 2s. 2d.=2,4751.
153. 5d.-3y lead sold (less dues), 1,240 L 9s. 2d.; mundic,
91/. Is. 7d.; tin, 94/. 4s. 4d.-leaving balance against
company, 1,0501. Os. 4d. The prospects of the mine (the
old Bissoe 'bridge) are said to be very encouraging, and
it is expected the balance will be paid off in two months.
ethe Kingsett and Bedford meeting, on Monday,
the accounts showed-Receipts on calls, 276/. 4s. 9.1.
By balance last account, 431, 2s. 4d.; labour cost Octo-
ber, 771. 16s. 10d.; November, 971. Bs. 4d.; ironwork,
36/. 18:3. 9d.; sundries, 204 18s. 61-the payments ba-
lancing the receipts. There was still a balance due to the
purser of 301. 43. 93.; and arrears of calls due 117/. It
was resolved that Captain Michael Martyn should in-
spect and report on the mine for the satisfaction of the
shareholders. The report stated that the lode in the
south was most excellent, and if it continued large
quantities of ore ground would be laid open. The floors
well.
were full of lead ore for dressing, and everything pro-
misedAt the Crane and Nawsa meeting the accounts
showed_Balance against adventurers, October 30, 9631.
2s. 63.; costs and materiels for September and October,
8431. 17s. 6d.; paid last moiety of cost of engine,
4751.-=2,382/. By call made in October, 1,5361.; leaves
balance against adventurers, 846/.
At a meeting of the North Trefusis adventurers at
Redrew, it was resolved to work the piece aground
which comprises Wheal Spernon and East Wheal Spar-
non, under a committee of management, consisting of
W. Richards, W. Richards, jun., R. H. Pike, F. Pryor,
and J. Little. A call of 1/. per share was made, the
mine being divided into 256 shares. W. Richards was
appointed manager, and T. R. Hearlo purser.
At the Kircudbright monthly meeting, on Tuesday
last, the account; showed-Lead ore sold, 4301. 64.
company
shaft.
Mine cost for December, 380/. 4s. 7d.: l3aving profit on
the month's working of 50/. 23. 43. The statement of
assets and liabilities showed-Liabilities, 2031. ss. Id.
Assets, 40 tons of lead ore shipped on the 11th inst.
(the cost of which had been paid), valued at 430/., and
of 100/.----.530/. The report
a sum
in the 74 end west,
to be 3 ft. wide, worth 5 cots. of lead per fm.; and in
the 62 fen. level, west of Gilpin's, 4 ft. wide, yielding
5 cwts. per fin.
At the Wheal Union meeting, the accounts showed-
Balancestated duetle tloo dtehein
from last account, 462/.125.; costs and mer-
chants' bills from June to December, 9911. 7s. 'idea--
1,45 a oswee, By ores sold (less dues), 551. 14s. 9,!.;
call made in May last, 6301.: leaving balance against
mine, 768/. Ss. 23.
At the Wheal Phonix meeting the accounts showed-
Cash received, 1,100/. Paid for deeds, 29/. Os. 6d.; cost
sheets, for August, 401. 19s. 3d.; Sept., 43/. 133. 6d.;
Oct., 70/. 4s. I ld.; and Nov., 1171. 63. 6d.; lessees on
account, 301.; sundries, &c., 284/. 63.2 d., leaving balance
in favour of adventurers, 484/. 9s. ld. A call of 1/. per
share was made, to meet the expenses of building engine-
house, and other necessary works.
At the Devon and Courtenay Consols meeting, the
report of the committee appointed to inspect the western
ground of the sett, was received, expressing a strong
opinion as to the desirability of working the lodes, to
which attention had been previously called by Captain
Rickard, and also recommending that a large water-
wheel should be put up. The accounts showed-Balance
at last account, 55/. 135. 30.; mine cost for November,
120/. Os. 7d.; December, 116/. 93. 3,1.-.=-2921. 3s. ld.-By
last call of 5/, 258/.-1
_eaves balance against adventurers,
34/. 3:3. Id. It was resolved chat the number of shares
should be 4,160, instead of 1,040, and a call of 2s. per
share was made, to meet the estimated expenditure of the
next two months. The report of Captain Rickard, mid
to the meeting, expressed the fulleit confidence in the
result of a vigorous prosecution of operations in the
western part of the sett.
The accounts submitted at the Tretbovy meeting,
showed a balance against the company of 33/ Bs. 83.
Mine cost for October, 122/. 14s. 91; for November,
2581. 58. 4d.; advance on account of engine, 250/.; sun-
dries, 341. 7s. Ideee66sl. 7s. 23. By balance in hand,
282/. 18s. 6d.; arrears of calls, 124/ ; received on call
due in December, 2201. 10s.; cash in advance of call,
41. 10s.-leaving the balance against the mine as stated.
A call of 1/. per share was made. Captain Seymour, in
his report, states that the engine shaft was now 8 fm'.
below the 30 fin. level, but the influx of water was very

great in proportion ('e says) to the. sizr of the lode. He
is slngutire in his impression that a large: deposit or'
copper ore will shortly be met, with, and thfr, tho
mine will ultimately be one of the best in the neigh-
bourhood.

At the West Shepherd adjourned meeting, held on
Tuesday last, the accounts showed—Capital account,
1,9941,; tails, 5521. 10;.; ca'h expenses of deputation,
27/. 3.,.; to sale of ores, 3751. ss. 2i., interest, 7s. 6d =_
2,931/. 6s. sd. By labour cost and merchants' bills,
2,862/. 7s. Id ; interest and commission, 57/. 12s. 10d.:
leaving a balance in hand, 111. 6•. 6d.
The accounts of Laraherooe Wheal Maria have been
audited by Messrs. Ruston and Price, by whom the ba-
lance-sheets, from May 30th to Jan. 2d, were examined
and found correct, showing a balance of assets in favour
of the mine (not including the December cost-sheet) of
184/. 6s. Id. The total sum expended since the com-
mencement of operations in 1845, is 20,409/. 13s. 2d. ;
anti the receipts on calls, &c., '20,6741. 19s. 3d.
At the West Alfred Consols meeting the accounts
presented a balance against the mine of 956/. 14s. sd.
The particulars of receipts and expenditure have not
reached as. To meet the above balance, and for the
farther prosecution t.f the workings, a call of 11. per
share was made. Captain Mitchell was appointed agent
of the mine.

The intended general meeting of Bryn Arian ad-
venturers has been adjourned till next week.
At the adjourned sreaial meeting of the Company of
Copper Miners in England, on Tuesday, Mr. Young,
the solicitor, stated that the debenture holders had met,
and the result arrived at was, that a committee should be
farmed to co-operate with the shareholders, in order that
the Bill to amend the constitution of the company should
be forwarded in its several stages through both Houses
of Parliament ; that committee had been appointed,
which consisted of,Messrs. Joseph Hoare, Francis Ed-
wards, Jansen, and Beattie, who at the same time un-
dertook to raise a subscription to defray the expenses of
the Bill. A desultory conversation ensued, with regard
to the Shareholders Committee, nominated in April,
1849 ; ultimately, it was resolved that a committee of
shareholders should be appointed to co-operate with the
debenture-holders, when the following gentlemen were
nominated :—Messrs. W. Gilbertson, A. Fowler, W. H.
Lord, and J. Paul ; and it was arranged that a meeting
of the joint committee should take place on Saturday (this
day) to see what steps should be pursued in the pre-
sent crisis of affairs.
In Foreign Mines, there have been transactions in
Alters, Santiago, United Mexican, General Mining, St.
John del Rey, Annotto Bay, Copiapo, National Brazi-
lian, Imperial Brazilian, and; Worthing United Mexican
being firm at 54, and Copiapo having been at si.