The Sun.
London, England, 1860-08-09 00:00:00

PORTSMOUTH.

The half-yearly meeting of this company was
held yesterday at the office, Great George-street,
Westminster ; Mr. R. D. Mangles in the chair.

The report stated that the necessary arrangements
for carrying into effect the provisions of the deed of
amalgamation had proceeded satisfactorily with the
South-Western Railway Company. Almost the
whole of the surplus property had been sold at satis-
factory prices. The directors believed that on the
final liquidation of the company's affairs that the
minimum balance for division would be £1 per
share, and that the company's affairs would be
wound up within the time formerly specified. The
capital account showed that £495,194 had been
received and £493,607 expended, leaving a balance
of £1,587.
The cIIAIRMAN said the directors had been un-
ceasing in their endeavours to wind up the affairs
of the company, the price they had received for the
land they had sold was double what they expected.
They had also settled with their solicitor td the
close of 1859. They had yet to settle with respect
to the redemption of the land-tax. They had a
little more land to sell, and when that was disposed
of and the land-tax redeemed there was nothing
to prevent their affairs being wound up, which he
expected would be before the 31st of December.
Mr. JACKSON, M.P„ seconded the motion for
the adoption of the report.
Mr. SALOMONS would insist on the £1 per share
being paid to them in cash.
Mr. MOWATT complained of the delay in the
winding up of the company.
The report was then agreed to.
Sir W. JOLIFFE, M.P., moved that a sum of £250
per annum since the formation of the company be
presented to the directors as a remunerator for their
services.

Mr. SNELL seconded, and Mr. MoIVATT opposed
the motion.

A discussion ensued, in the course of which the
motion was divided into two distinct resolutions ;
first that £1,500 should be paid the directors for
their past services ; and secondly, that £250 be
voted to them as remaneration for the current year.
The first of these resolutions was =lied on a show
of hands. The numbers were five for the motion
and three against it, bnt the chairman announced
that he held proxies for 8,800 shares. The second
resolution was carried with one dissentient.

The retiring directors were then re-elected, and
the proceedings terminated.

BOSTON, SLEAFORD, AND MIDLAND
COUNTIES.

The half-yearly meeting of the proprietors was
held on Monday at the Euston Hotel, Euston-
square, Mr. Ingham, M.P., in the chair. The
report stated that the total earnings of the line for
the last six months amounted to £9,101. After
the deduction of the moiety of the revenue belong-
ing to the Great Northern Company for the work-
ing of the line, and the payment of expenses, there
remained a balance of £2,804, out of which the
directors recommended the payment of a dividend
of 3s. per share, being at the rate of 3 per cent per
annum, which would absorb £2,759, leaving £44.
All the accounts with the contractors had been
satisfactorily settled, and the balance due to them
discharged.

The CHAIRMAN, in moving the adoption of the
report, said they had one of the best railroads in
England. There had not been a single accident
upon the line, and the Great Northern Company
worked it with efficiency and punctuality. With
regard to the coal traffic, it had not realised any-
thing near the income it ought from the lowering
of rates and alteration of charges made without
their cognisance or sanction. With regard to the
dividend, he regretted it was so small, as he thought
it ought to be a 5 per cent line.

Mi. NICHOLLS suggested the appointment of a
committee to inspect the Great Northern Com-
pany's books, to..ascertain if they made correct
returns of the traffic.

Mr NORTH said there was every prospect of the
dividend being larger next half-year. During the
last two months he had himself sent over the line
from the Babbington collieries 2,752 tons of coal.
Mr. PARRY, one of the directors, said the board
would do everything to secure a full and fair return
of the traffic. Many of the monthly returns were
received under protest.
The CHAIRMAN, in reply to Dr. M'Cann, stated
that there were outstanding claims upon the com-
pany for land of about £7,000.
The report was then adopted, and the dividend
declared.

GREAT WESTERN
The directors of this company have decided on
recommending the payment of a divideqd at the rate
of 3 per cent. per annum for the half-year ending
June 30, leaving a balance of about £5,000 to be
carried to the present half-year.