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

Leaving a balance of ...
Deduct reserve fund ...

Balance for dividend ...

The practice of this company having been to divide in
each half-year the amount actuslly 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 departure from this practice, and accordingly
they recommend a dividend of 2/. 12s. per cent. for the
halt-year, amounting to 120,0061., leaving a balance to
the credit of the current half-year of 4,2481.
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 by 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
those of the company.
As regards the principal officers, first-class station
clerks, Ste., 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 and 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 ot 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, in certain cases, to the
widows or orphans of men dying in the service. For
this purpose they recommend the propri.2ters to sanction
the appropriation of 1,0001. mummify 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 inittrera 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 ot duty mill be saved, and the various risks
better protected than they ever can be in the ordinary
course of insurance, where the diTesition and value of
the property are necessarily subject to so many changes.
m ThreeontHanokey, n
o k , E
f the directors,
d Captainß lw a rd
theC Crowley,
GEesoqr.g,
eßbeeianu-g
Fre-
derick, Hotham, R.N., retire by rotation, and
eligible for re-election, offer themselves accordingly.

One of the auditors, William Manfield, Eeq., retires
by rotation, and being eligible for re-election, will offer
himself accordingly.

MINING INTELLIGENCE.
(From the Mining Journal of this day.)
An averag,e amount of business has been transacted
this week, and at higher prices generally fir dividend
mines. The tendency of prices :is still to tub anc,, for all
the leading and favourite mines of both classee, which can
only be checked by monetary derangements, since every
day is rendering this business more safe, and contii-
bating to its steady advance in public estimation. There
have again been some important discoveries, and im-
provements in several mines in the Devon and East
Cornwall district, and new concerns, in consequence, are
announced/or public patronage. Capitalists will do well
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 ex-
pected. Lead fully maintains its rise, with a limited
supply. A fair business 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 ten. The Herodsfoot, 75 tons, at 121. 3s. 6d.;
and the Tamar Mines, 73 tuns, at 181. Bs. 6d. per ton.—
The Pentire Glaze Mines sold 30 tons of lead ores to the
Tamar Company, at 10/. 9s. 6d. per ton.
The Foxdale (Isle of Man) lead ore, 100 tons, realised
121. 1 ls. 6d. per ton, and the same quantity from the
Nevrtonard's Mines sold for 11/. 3s.

An itnmense piece of rich lead ore, weighing upwards
of 35 cwt:., was last week brought to surface at the
Grassington Mines, Yorkshire. It is from Devonshire's
vein, and an excellent specimen of the constituents, not
only of that, but of lead veins in general, and as such
will form an interesting feature at the Industrial Exhi-
bition.

Two shipments of rich quality copper ore, about 800
tone, 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 fms. 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.
Tie recent discovery in Rixhill is in the 40 fm. level,
and about 40 fms, west of the western boundary of the
United Mines, Tavibtock, and is worth about 1301 per fm.
It can be cut deeper than discovered, from the 20 fm.
level in 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 Crowndale,
in the 40 fm. level east, the produce of the lode in which
is stated at 60 per cent. of tin, and worth from 1201. to
1301. per fen. It is most productive in the bottom.
From the recent inspection of Tregorden, it appears
that the lode in the 30 foe, level is large and very pro-
mising, being rich also in some places for silver lead ore
and has in general much improved lately.
In Old Polbsrro, according to the report, the lode in
the ground above the 27 in. 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 alit 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 for 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. 18 e 1d.=3,7971. 165.-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 resolvel that the
future supplies to the mine should be subject to the list
of prices cearged in the Great Consols and the United
Mines, as far as may be practicable. Frum the agent's
report the several ends continued equally valuable with
the previous week, and the several tribute pitches equally
productive and promising.
At the Great Consols Mines meeting, on Wednesday,
the accounts for Nov. and Dec. showed-Balance from
last account 2,1271. 175.; ores sold (less dues), 5,6771.
16s. 9d.=7,8051. 13s. 9.-Mine cost and merchants'
bills 6,5331. 10s. Id. ; leaving balance in favour of ad-
venturers, 1,2721. 3s. Bd.
At the Wheal Comfort meeting, on Tuesday, the ac-
counts showed-Balance from2lasti,3ac9cBl 5
account, 4871.
d.=lB
48971..195,18d6.
.1;
ore money (less dues) to Oct. 4,
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/. 12:e Id.
The Herodafoot accounts, as made up for the three
mouths ending November, show -Lead ores raised in
September and sold in October, 929/. Ils. 6d.; raised in
October and sold in November, 9501.; ditto November
and sold in December, 9131. 2s. 6d.; copper ores, 401.

2,832/. 14s. The costs for September, October, and
November were (including dues, &c.) 2,691/, 7s. 6d.;
leaving profit of 1411. Gs. Gd. The statement of assets
and liabilities show—Cash in hand, 3001. 12s. 9d. ; ar-
rears of calls, 171 10s.; value of copper ores raised in
November, 40/. = 35E1. 2s. 9d. Dues, 1481. 25.; doctor
and club, 401.; balance of assets over liabilities to end of
November, 170/. 9s. In these accounts, the manager
explains that the dues charged are for four months,
making a difference on the debit side of 451.; also the
expenses incurred in the erection of a new boiler house,
301.; and also 901. 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' workings
would be over 300/.

At the West Wheal Friendship meeting a committee
was appointed to adopt measures to carry out the recom-
mendation* of the mine agent, among which was one
that a new shaft be sunk to cut the lode in the 43 fin.
level at greater depth. The water has been drawn out
to the back of the 43 fm. level. A call of 11. 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. 13s. 3d.; mine cost for two mouths
(including merchants' bills, &c.), 1,407/. 2s. 2d.=2,4751.
15s. 5d.-By lead sold (less dues), 1,2401. 9s. 2d.; mundic,
91/. Is. 7d.; tiu, 94/. 4s. 4d.-leaving balance against
company, 1,0501. Os. 4d. The prospects of the mine (the
old Bis:we °bridge) are said to be very encouraging, and
it is expected the balance will be paid off in two months.
At the Kingsett and Bedford meting, on Monday,
the accounts showed-Receipts on calls, 2761. 4s. 9d.
By balance last account, 431 2i. 4d.; labour cost Octo-
ber, 771. 16s. 10J.; November, 97/. Bs. 4d.; ironwork,
361. 18s. 9d.; sundr►es, 201. 18s. 6d.-the payments ba-
lancing the receipts. There was still a balance due to the
purser of 30/. 4s. 91.; and arrears of calls due 117/. It
was resolved that Captain Michael Martyn should in-
spect and report on the mine fur 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
were full of lead ore for dressing, and everything pro-
mised well.

At the Craue and Bejawsa meeting the accounts
showed-Balance against adventurers, October 30, 9631.
2s. 6d.; costs and materials for September and October,
8431. 17s. 6d.; paid last moiety of cost of engine,
4751=2,3821. By call made in October, 1,5361; leaves
balance against adventurers, 846/
At a meeting of the North Trefusis adventurers at
Redruth, it was resolved to work the piece of ground
which comprises Wheal Sparuon and East Wheal Spar-
non, under a committee of management, consisting of
W. Richards, W. Richards, jun., R. 11. Pike, F. Pryor,
and J. Little. A call of 11. per share was made, the
mine being divided into 256 shares. W. Richards was
appointed manager, and T. R, Hearle purser.
At the Kircudbright monthly meeting, on Tuesday
last, the accounts showed-Lead ore sold, 430/. 6s. Id.
Mine cost for December, 3801. 4s. 7d.: leaving profit on
the month's working of 50/ 2s. 4d. The statement of
assets and liabilities showed-Liabilities, 203/. ss. ld.
Assets, 40 tons of lead ore shipped on the 11th inst.
(the cost of which had been paid), valued at 430/, and
a sumlool.=s3o/ The report
companyewarea shaft. in the 74 end west,
to be 3 ft. wide, worth 5 cwts. of lead per fm.; and in
the 62 fm. teheinst
level, west of Gilpin's, 4 ft. wide, yielding
fm
5 cwts. per • .
At the Wheal Union meeting, the accounts showed__
stated duethe tlood
Balance from last account, 4621.128.; costs and mer-
chants' bills from June to December, 9911. 7s. 11d.=--
1,453/. 19s. 1 Id. By ores sold (less dues), 55/. 14s. 91.;
call made in blay last, 630/.: leaving balance against
mine, 768/. ss. 2d.
At the Wheat Phesaix meeting the accounts showed-
Cash received, 1,100/ Paid for deed,, 29/ Os. 6d.; cost
sheets, for August, 401. 198. 3d.; Sept., 431. 13s. 6d.;
Oct., 70/. 4s. 11d.; and Nov., 1171. 6s. 6d.; lessees on
account, 301.; sundries, &c., 284/. 6s. 2d., leaving balance
in favour of adventurers, 4841. 98. Id. A call of 1/. per
share was made, to meet the expenses of building engine-
house, and other necessary works.
At the Devon and Court9rsay 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/ 13s. 3d.; mine cost fur November,
1201. Os. 7d.; December, 116/. 94. 3d.=2921. 3s. ld.-By
last call of 5/, 2551.-leavoi balance against adventurers,
34/. 33. ld. It was resolved that the number of shares
should be 4,160, instead 4:)t 1,040, aad a call of 2s. per
share was made, to meet the estimated expenditure of the
next two months. The report of Captain Rickard, read
to the meting, expressed the fullest confidence in the
result of a vigorous prosecution of operations in the
western part of the sett.
The accounts submitted at the Tretbevy meeting,
showed a balance against the company of 33/ Bs. 8,1.
Mine cost for October, 1221. I4s. 9d.; for November,
2531. sa. 4d.; advance on account of engine, 250/.; sun-
dries, 34/. 7s. ldes---665/. 7s. 2d. By balance in hand,
282/. 18s. 6d.; arrears of calls, 124/ ; received un call
due in December, 2201. lOs ; cash in advance of call,
4/. 10s.-leaving the balance against the mine as stated.
A call of IL per share was wade. Captain Seymour, in
his report, states that the engiip shaft was now 8 fins.
below the 30 fin. level, but the Latta of water was very

great in proportion (he says) to the size of the lode. lie
is sanguine in his impression that a large deposit of
copper ore will shortly be met with, and that the
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.; calls, 552/. 103.; ca-h expenses of deputation,
271. 34.; to sale of ores, 375/. ss. 2d., interest, 7s. 6d.=
2,9311. 6s. sd. By labour cost and merchants' bills,
2,862/. 7s. 1.1 ; interest and commission, 571. 12s. 10d.:
leaving a balance in hand, 111. Gs. 61
The accounts of Lamherooe 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 Decamber cost-sheet) of
1841. 6s. hi. The total sum expended since the com-
mencement of operations in 1845, is 20,409/. 13s. 2d. ;
and the receipts on calls, &c., 20,674!. 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 us. To meet the above balance, and for the
further prosecution of 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 special 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
formed 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
Alten, Santiago, United Mexican, General Mining, St.
John del Rcy, Annotto Bay, Copiapo, National Brazi-
lian, Imperial Brazilian, and; Worthing United Mexican
being firm at 51, and Copiapo having been at 511.