The Sun.
London, England, 1860-10-20 00:00:00

METH AND CLYDE NAVIGATION.

The following is the report from the governor and coun-
cil of the company of proprietors of the Forth and Clyde
Navigation, to be made to the half-yearly ordinary general
meeting on 24th inst. :—ln presenting the annexed accounts
for the half-year to 30th ult., the governor and council are
glad to report an increase in the revenue of the canal and its
dependencies over the corresponding period of 1859, enabling
them to recommend that a dividend at the rate of 61 per
cent., subject to deduction, of income tax, be declared out of
the profits of the half year, as follows :—Surplus revenue,
half-year to 30th ult. (fractions omitted), £37,777 ; rest
from last half-year, £20,225; total, £58,005; less dividend
at 61 per cent, £37,093; rest to be carried forward, £20,912.
These results, the governor and council are of opinion, will

be deemed satisfactory, when it is considered that the
for repairsut fo of r la ock s,
week &c
f.o,
eastern portion of the main. canal was shut for four days,
itth e I'l' onkland Canal wasa
also
for cleansing. thaus.. 01
u both occasions eaes
large amount of work wa s performed, the cost of which is
included in the expenditv xe. The new works at Grange-
mouth are expected to he completed this season. The
dredging of the enlarge= mt of the Junction Canal Basin is
already finished. With the enlargement of the Junction
Canal Lock, which was coritracted for in May, considerable
progress has been made; and also with the erection of the
passenger and goods stati on for the Grangemouth Railway
The governor and council regret to state that their hopes of
an amicable adjustment of the points so long in dispute with
the Airdrie and Coatbridge Water Company OA to Rough-
rigg Reservoir have been disappointed. On the faith of the
agreement entered into in. 1847, and ratified I')y the two
companies, the Canal Company have advanced a awn of
between £13,000 and £141,000. The agreement: itself was
held by the Court of Sess ion to be in some respects ultra
vircs of the Water Comps ny under their act, by vt-hom
to thi.s
o d
plea was urged, but the rights of the Canal CorapemY
ry b
tain repayment of their advances were specially reseete
and as the Water Company have hitherto declined to
n er
into a reasonable agreement, the governor s.nd council,
acting under legal advice, have resolved to raise an action
for repayment of the Money. Whatever be' the result of
this step, the necessity for which is deeply to. be regretted,
the governor and council have the satisfaction of feel-
ing that the whole transaction has been conducted in per-
fect good faith on the part of the Canal C'orttpany.
In
terms of the company's act, Mr. Robson and Mr. Wallace,
members of council, and Mr. James Burns aold J. j.
Gibb, auditors, retire at this meeting. The
Ewern.or and
council recommend the re-election of Mr. Robs on, but they
regret exceedingly that Mr. Wallace, whose sei •vices since
1852 have been most valuable, has intimated
hit Z intention
not to allow himself to be again nominated, on a tcount of
the state of his health. From the same cause 11 ir.
J.
J.
Gibb has been compelled to resign his office as auc liter, and
the governor and council therefore beg to propose that the
vacancy in the council be filled up by the election a of Sir
Archibald Islay Campbell, that Mr. James
ames Burnt ;be re-
elected auditor for this current year,
and that Mr. ,redrew
Johnston, who, at the request of
for Mr, Gibb, be elected as Mr, the board, has offi 3foled
r. Burns 's
colleagn

Zzi4AND,(-iover aor.