The Sun.
London, England, 1860-08-27 00:00:00

CORNWALL.

The directors' report states nat although the
proceeds of the half-year have not fully come up to
what might have been expected, the resources of
the county are being steadily developed; large
quantities of potatoes and other vegetables, and fish,
have passed over the line, and the advantages which
have been supplied by this improved mode of tran-
sit have been so appreciated in the London markets,
and have afforded such facilities to producers in the
west of Cornwall, that a continued and considerable
increase of traffic from these sources may be reason-
ably expected when better appliances have been
secured for the purpose. The receipts on account of
revenue have been £29,144, and the working ex-
penses £17,328, leaving a surplus of £11,815, but as
the amount of interest falling due in the half-year
on debentures, guaranteed shares, and on money re-
ceived on loan from the associated companies, and
payable exactly at the end of the half-year, amounted
to £22,287, the financial result of the working of the
line, from its opening to the 30th June last, is a debt
on the revenue account of £6,433. Several circum-
stances, partly arising from the imperfect completion
of the line as a whole, and others of a temporary and
accidental character, have contributed to this result.
Until the beginning of this half-year little was done
in the way of goods' traffic ; and the appliances for
this branch of the business, -lotwithstanding every
exertion was used to provide them, were not in a
state of tolerable efficiency until the end of February,
and even these additions and improvements were
required; but none of them have been in use long
enough to have had any effect on the accounts of the
current half-year. One of the most serious obstacles
to the proper development of the traffic from the
west of Cornwall, atad particularly in the carriage
of fish and vegetables, has resulted from the con-
tinuance of the narrow gauge on the West Corn-
wall line. The directors therefore, have been under
the necessity of preising on the West Cornwall Com-
pany the expediency of taking measures to terminate
at the earliest possible moment an exceptional sys-
tem, which the directors believe to be equally pre-
judicial to the public in general. The directors
continue to look, as they have ever done, to the ex-
tension of the line to Falmouth as the natural and
legitimate means of completely developing the re-
sources of the undertaking. They have now brought
the whole question before the associated companies
in a manner which they hope will lead to a decision,
and they have observed with much pleasure the
progress which is being made in the construction
of the docks at Falmouth. The revenue account
showed that £1,512,087 had been received, and
£1,517,836 expended, leaving a balance against the
company of £5,749.

DUBLIN, WICKLOW, AND WEXFORD.
The report of the directors states that, notwith-
standing the long winter and the continuance of in-
clement weather during the spring and summer
months of the past half year, there had been
an increase of the traffic receipts. The increase
of traffic receipts on the Wicklow line
amounted to £991, and on the Kingstown line
to £174, making together £1,165, as com-
pared with the corresponding half of 1859.
On the whole year, ended the 30th of June,
1860, as compared with the corresponding previous
12 months, there had been an increase of traffic re-
ceipts of £5,127, viz., £3,519 on the Wicklow line
(on which the traffic amounted to £38,905 as against
£35,.386), and of £1,608 on the Kingstown line, on
which the traffic receipts were £61,832, against
£60,224. The total receipts on both lines for the
half-year ending 30th June last amounted to 146,174
including £28,222 on the Kingstown line, and
£18,620 expended, including £9,698 on the Kings-
town line, leaving a balance of L 27,554. Out of
this sum was paid to the Kingstown Company and
its officers £18,593, leaving as the net profit for the
half-year £8,961. The interest, rent, rates, and
taxes absorbed £8,666, leaving £293. To this sum
was added the balance brought from the preceding
account of £6,382, making a net sum of £6,5",5 to
the credit of revenue. The gross revenue of the
Kingstown line for the year just closed .having ex-
ceeded £55,000, the Kingstown Company had be-
come entitled, under the lease, ,to the contingent
rent of 30 per cent of such excess, in addition to the
fixed rent and the compensation rent for diversion
of traffic under the agreement of Oct. 1, 1859. The 1
payments of these three rents amounted to £17,914.
The bill promoted in Parliament by the two com-
panies, for giving validity to the agreement of Oct.
1859, received the royal assent on the 25th May
last. Out of the balance of £6,575 the dividend for
the half-year on the 6 per cent. preference shares
was payable. The final call on those shares having
been made, they had now been fully made up; and
the dividend for the half-year ended 30th rune list
amounted to about £5,989, leaving the surplus
(£586) to be carried forward to next account. The
arrangements of this company for its part of the
improved postal and passenger communication with
England has been completed. The works on the
first section of the Gorey Extension line were
in active progress, and the remainder of the exten-
sion down to Enniscorthy had been laid out, an,l
the working plans were near completion. The act
for -the extension from Gorey to Enniscorthy
was passed on the 15th of May, and the shares by
means of which the capital for Gorey and Ennis-
corthy extension was to be raised were in course of
issue. It had been found expedient to continue the
doubling of the line from Dundrum to Bray, with
a view to the more convenient working of the in-
creased traffic on the Bray line; and a new station
had been established at Miltown, on that line. The
capital account of the Dublin, Wicklow, and Water-
ford Company showed that £1,019,168 had been
received, and £985,169 expended, leaving a balance
of £33,999.