The Sun.
London, England, 1860-09-01 00:00:00

RAILWAY INTELLIGENCE.

GREAT WESTERN AND BRENTF ORD.
The half-yearly meeting of this company was
held yesterday at the offices, Great George-street,
Westminster—Mr. H. G. Day in the chair.
Mr. C. Eley, jun. (the secretary), read the report,
which stated that the traffic conveyed over the rail-
way during the half-year ended June 30th amounted
to a total of 58,555 tons. This result the directors
considered very satisfactory, for notwithstanding
the disadvantages incident to a newly-opened rail-
way, there had been a large increase over the ton-
nage conveyed between Bull's-bridge and Brentford
compared with the corresponding period of last year,
and the fact of 29 additional stations upon the
Great Western lines and other railways in connec-
tion with them having opened traffic with London
via Brentford and the river since the commence-
ment of the year, clearly showed the importance of
the means of communication which this railway
bad afforded, and confirmed the directors in their
previously expressed opinion as to its ultimate
value as an investment. The railway was opened
for passenger traffic on the Ist of May last. The
directors recommended that the balance to the cre-
dit of revenue, amounting to £2,382, be applied
to the payment of a dividend at the rate of 5 per
cent. per annum for the half-year upon the prefer-
ence shares, and that the balance (X 1,420) be car-
ried forward to the next half-year's account. With
this balance and the increasing traffic the directors
looked forward with confidence to be enabled to
give a satisfactory dividend on the original shares
at tke close of the current half-year.
The CHAIRMAN, in moving the adoption of the
report, congratulated the shareholders upon the
prospect which was opened before them. The di-
rectors would have been glad if they could have
offered a dividend on the original shares; but the
delay and expense incidental to all new railways
had been so considerable that it was deemed pre-
ferable to carry forward the balance to a future ac-
count. He could not help saying that the directors
felt greatly indebted to the shareholders for the good
feeling and patience which they had shown in wait-
ing so long for a return xpon their investments.
The company had had great difficulties to contend
with, all of which had been surmounted, and he was
happy to say that their prospects were far brighter
than they had been. The Great Western Company
were expending a large sum of money in the im-
provement and extension of the dock at Brentford,
which showed that they fully appreciated the value
of this line, and that they anticipated a still greater
augmentation of traffic than that which had already
taken place. It was proposed to lay down the nar-
row gauge between Reading and Brentford, which
would be of incalculable advantage to this railway,
because it would place it in communication with
the whole of the broad and narrow gauge system
throughout the country, and must lead to a greatly
increased revenue. Another important fact was that
the Metropolitan Railway was now in actual course
of construction. It was expected that that line,
commencing, as it did, in the very heart of the city
and passing through the northern part of the me-
tropolis, would cause an immense influx of passen-
gers to Kew-gardens, and would thus swell the in-
come of this company.
Mr. BAILEY seconded the motion, and it was
carried unanimously.
On the motion that a dividend of ss. per share,
being at the rate of £5 per cent. per annum, be de-
clared upon the preference shares of the company
for the half-year, payable on the 15th September,
Mr. MOATES inquired what was the total amount
of the liabilities of the company. He apprehended
that it was still rather heavy.
The SECRETARY said that their liabilities at the
present moment amounted to £27,519, in addition
to which there would be some £6,000 or £B,OOO to
pay for land, which was still standing over. He
believed they would complete thu whole and close
the capital account at £210,000.
It was unanimously resolved, on the motion of
Mr. MOATEs, seconded by Mr. J. BLAKE—
" That, with a view to clear off the liabilities of the com-
pany, the directors be requested to consider the propriety of
issuing shares to the extent of £25,000, bearing a preferen-
tial interest not exceeding 5 per cent. per annum.":
I IA vote of thanks to the chairman and directors
closed the proceedings.

LONDON, CHATHAM, AND DOVER,
The half-yearly meeting of this company was
held yesterday at the London Tavern—Lord Sondes
in the chair.
Mr. Holroyd, the Secretary, read the report, an
abstract of which has appeared in The Sun.
The CHAIRMAN, in moving the adoption of the
report, said he considered it one of the most impor-
tant half-yearly meetings they had held. The first
portion of their line, from Strood to Canterbury,
had been completed, and for which the company
had been originally formed. The increase of traffic
since the opening had fully answered the expecta-
tions of the directors, and no doubt the receipts
would continue to increase. The line to Sheerness
had also been opened, and the works on the Western
Extension from Strood to Beckenham would be en-
tirely completed in October. The company had
secured an independent station at Pimlico, so that
on the opening of the Western Extension they
would be enabled to convey passengers from Canter-
bury to the Victoria station, The late session of
Parliament had been an important one to them, and
in which they had carried every measure. Their
Metropolitan Extension would give them access to
Farringdon-street and the railways north of the
Thames, and he had no doubt that that undertaking
would prove of the greatest importance to the cum•
try at large. The bill for that extension had en-
countered the greatest opposition for several weeks,
but owing to the exertion and ability of counsel, and
the zeal and ability of every one on their side, the
deep attention which the committees of both houses
had paid to the measure, and the support they had
received from the public, they were enabled to carry
the bill through. They had no wish to injure any
railway; they were ready to make amicable ar-
rangements, and he trusted they would be met by
others in a similar spirit.
Lord HARRIS, in seconding the motion for the
adoption of the report, said he was one of the first
promoters of the undertaking. They were under
great obligations to their noble chairman, who had
made great exertions to promote the undertaking,
and, from his high character, had been enabled to
sustain them throughout a long contest. The works
had now progressed so far that they would be com-
pleted from Beckenham to Dover in the course of a
few months. They had now 42 miles open, consisting
of 29 miles from Strood to Canterbury, seven miles
to Sheerness, and six miles to Faversham. Their
receipts were about £9OO a-week, or £2l per mile
per week on the whole. On the 29 miles the aver-
age was £24 per mile per week, whereas in the cor-
responding period of last year on 19 miles the re-
ceipts were at the rate of only £l6 per mile per
week, showing that by the extension of the line
they increased the mileage receipt by 50 per cent.
That was a very satisfactory result, and showed
what might be expected from the further opening
of their line, which he believed would give them a
fair return. The western extension had been car-
ried out by Sir M. Peto and Mr. Betts in a most
able and complete manner. The extension from
Canterbury to Dover had very heavy works upon
it, but they were in a forward state, and no doubt
Mr. Crampton, the contractor, would complete them
as soon as possible. The Victoria station would be
a great convenience to the public, and give them
access to the Great Western and London and
North-Western Railways. With respect to the
Metropolitan Extension, it would be one of the
most useful undertakings for the public ever con-
structed. Looking at the populous district through
which it would pass, and the important railways
north and south that it would connect, the traffic
must be immense and the result satisfactory to the
shareholders. Taking the line as a whole, it would
not cost an extravagant amount, and he thought
there was every prospect of its being fairly remu-
nerative,
Mr. Alderman SALMONS, M.P., congratulated
the directorz and shareholders on the success of
their exertions. Ite thought the line had as good
a prospeet of being remunerative as any other line
lie knew of, and a better one than vile South-Eastern
had when in a similar state of progress. (Hear.)
He agreed that their metropolitan extension would
be a most important line for the city, and he trusted
the undertaking would result in great advantage to
the shareholders and the public.
The Secretary, in reply to a question, stated that
the line from Strood to Beckenham would be opened
in October, the passengers would be conveyed to
the Crystal Palace line, and thence to London-
bridge over the Brighton Railway. The passen-
gers for the West-end would continue their journey
to the Victoria station.
The report was then unanimously adopted.
Colonel BRINES proposed that some substantial
acknowledgmant of the able and successful exertions
of Mr Burke, the counsel, and Mr. Newman, their
solicitor, in obtaining the Metropolitan Extension
Bill, should be presented to those gentlemen.
Sir J. TYLDEN seconded the motion, and trusted
that the proposition would be unanimously adopted.
One station would be in the centre of the city of
London, and the other close to the Queen's Palace
at Westminster, the courts of law, and the Parlia-
ment houses. He seconded the motion with great
pleasure for placing £3OO at the disposal of the di-
rectors to purchase 2. dr. Newman and Mr. Burke a
suitable piece of plate.
_ Some discussion entsued, in the course of which

it WaTsuiiested that; £1,600 should be appropria-
ted to that purpose, .or at least £5OO. An amend-
ment was proposed and rejected, and the motion
Was carried.
On the mi Ption of at. CHAIRMAN, seconded by