The Sun.
London, England, 1858-08-27 00:00:00

BLYTH AND TYNE.

The half-yearly meeting of this company was held at New-
castle on Monday—Mr. J. Layceck in the chair.
Mr. ARMSTRONG, the secretary, read the report, an ab-
stract of which has appeared already.
The CHAIRMAN, in moving the adoption of the report,
said they felt gratified to be enabled to inform the share-
holders that while other lines were suffering from reduced
trade their trade was increasing; and it was a further source
of gratification that this improvement in their revenue
arose from the healthy progress of the coal trade of the dis-
trict. Since the last meeting of the shareholders there had
been important changes in the ownership of collieries, the
produce of which came on to their line. Arrangements had
been successfully entered into to send the coals dowry the
line ; and not only had they secured this traffic, but the
North Seaton Railway, formerly held by the Messrs. Carrs,
having come into the hands of influential parties, the rail-
way bad entered into an agreement with that company to
convey the coals from their collieries. The latter arrange-
ment would cause an extension of the line. But their ex-
tensions, unlike those of other companies, would bring them
a large increase of traffic.
Mr. F. LAMBERT seconded the adoption of the report.
Some conversation took place with regard to setting apart
so large a sum for the reserve fund, Mr. Alderman HODG-
SON, Mr. JOBBLING, and others urging that the necessity
for it was not apparent, and suggesting that they should add
2 per cent. more to the dividend.
The CHAIRMAN replied that their railway, depending so
largely upon the teal trade for its revenue, it was essential
to have a considerable reserve to meet such a contingency as
a pitmen's strike, when they might be deprived of nearly all
their trade for a considerable period of time,
The report was adopted.
'Die CHAIRMAN then moved a dividend at the rate of 10
per cent. on the preference shares, and 8 per cent. on the
ordinary and extension shares, which, after a short discus-
sion, was agreed to.
A special meeting was then held, when the CHAIRMAN
moved a resolution empowering the directors to issue
12,000 preference shares, bearing interest at the rate of 5
per cent. per annum, with a view to raise -£lOB,OOO for the
extension to North Seaton and to camp!ete other works in
hand. . _ -

The resolution waq agreed to, and, after a vote of thanks
to the chairman, the meeting separated.

LEWES AND UCKFIELD.

The half-yearly meeting of this company was held on
Monday at Lewes—Mr. R. W. Blencowe in the chair.

The-Secretary read the report, which stated that the
works had been carried on with the utmost vigour, and the
line was almost completed and ready for traffic. The sta-
tions, which were being constructed by the London,
Brip,ittan, and South Coast Company, were progressing
rapidly, and it was hoped that they would be sufficiently
advanced to permit of the opening of the line for traffic
before the close of the month of September. The directors
keying called up £3O per share, availed themselves of the
borrowing powers of the company, as directed by the pro-
prietors, and had succeeded in obtaining upon loan a consi-
derable portion of the sum required, at the rate of 41- per
cent. per annum, and had made arrangements for other
sums at the same rate. _ _

The CHAIRMAN, in moving the adoption of the report,
said that the progress which they had expected in the erec-
tion of the stations had not been made, otherwise the line
wt,-.1,1 now hays been opened; but he was inf,rtned that it
would certainly be ready for traffic by the irrb of nort
month, which was within the time originally proposed, and
-for the sum originally estimated. Moreover, he believed,
that no complaint htd been made by either landowner or
occupier of land at the way in which the directors had
treated him ; and it was very gratifying to be able to add
that the into employed in the construction of the railway
had acted in a very creditable manner.
Capt. DALBIAC seconded the motion.
The Hon. H. BRAND, M.P., said that it was a very im-
portant undertaking for the district, and the business bad
been conducted with great ability.
The report was unanimously adopted.
Votes of thanks to the chairman and directors for their
services were carried unanimously, and the proceedings
then terminated.