The Sun.
London, England, 1858-02-24 00:00:00

TAFF VALE.

The half-yearly mestiug was held at Bribtol yesterday,
Lord Jamee Stuart in the chair.

The report stated that the balance of revenue account,
ailed by the i,eeerve of the last half-year, enabled the
directors to declare a dividend at the rate of 8 per
cent. per annum (lees income-tax), payable on the 6tll
March, with a dividend in the same proportion on
the preference stack No. 1. They had also applied
the usual sum of 7501. to the depreciation fund. In
accordance with the authority obtained at the epee al
meeting held in October last the sum of 50.6001. of new
capital had been issued to the proprietors in shares of
101. each. The directors referred with pleasure to the
termination of the dispute between certain freighters
through the mediation of Mr. Hawkshaw, and it was
hoped that no future difficulties would arise. An agree-
ment with the directors of the Newport, Abergavenny,
a,vid Hereford Railway Company for a mutual ini er-
change of traffic bad been entered into, as well as for
other arrangements, which it is believed will operate
beneficially for both companies. An arrangement has
also recently been made with the Rhytnuey Railway
Company, under which access to the eastern side of the
new Bute Dock and the Bute Tidal Harbour will be
afforded to the Taff Vale Railway trade.
The CH-AIRMAN, in moving the adoption of the report,
congratulated the shareholders on the termination of the
dispute with the freighters, and the arrangements which
bad been entered into with the Newport, Abergavenny,
and Hereford and the Rhymney Railway Companies.
Mr. J. POOLE seconded the motion, which, after some
remarks from Messrs. Cartwright, Mercer, H►tchins,
arid other proprietors, was carried unanimously.
Resolutions adopting the rules and regulations in
respect to all carriages, vehicles, u-ed on the
Taff Vale Railway, and thanking the chairman and
directors for their services, were adopted and the pro-
ceedings terminated.

TAFF VALE WAGGON.
The half-yearly meeting was held immediately after
that of the Taff Vale Railway ; Mr. E. J. Hutchins
in the chair.
The accounts showed that 11,9091. had been received
on account of the redemptif,n fund, and that on the 315 t
of December 2,1901. remained f-r permanent investment.
This sum and 6he interest accruing upon the securities
held by the company have since been applied in
the purchase of A and B shares at a rate to yield
18e. 9.1 d. per cent. per annum. As the rate of
interest for this fund was calculated by the actuaries at
3i per cent. per annum, the position of the company is
considered very sati,factory.
The CHAIRMAN moved the adoption of the report,
which .vas carried unanimously.
The retiring director and auditor were re-elected, and
the proceedings terminated with a vote of thanks to the
chairman.

BRADFORD, WAKEFIELD, AND LEEDS.

Yesterday the quarterly meeting of this company was'
held in Bradford—Mr. W. Firth presided.
The CHAIRMAN, in moving the adoption of the re.
port, alluded to the expenditure of 10,0001. in
excess of the amount authorised to be raised by Parlia-
ment, and stated that upon almost every head the ex-
penditure had exceeded the original estimate. The works
were exceedingly heavy. The dir.ctors thought they
had made a good railway, and be bad no doubt the
traffic would ultimately justify the expenditure of the
250,0001. which it would ultimately cost. About 49,2001.
comprised all the know., or supposed habili ice of he
company from the let of January last. They had
to receive, however, for work done for other com-
panies about 5,5u0/., and that would reduce their
liabilities to 43,7001. The amount already expended
was 206,551/ , which, added to the 43,7001.,
made 250,251/., the estiniat.el total cost of the rail-
way. The line was partially opened for traffic on the
15th October. On the 14 November the long passenger
traffic of the Great Northern and Lanca.-hire and York-
shire companies was opened upon it, and the goods traffic
commenced on the 12th November. From the best cal-
culation the directors had been able to make, the earn-
ings of the line were about 2,2001., afesr deducting the
peyments to the Grrat Northern and Lancashire and
Yorkshire companies for working the traffic. Si that
the earnings would appear to be at the r ,te of 13,2a0/.
per annum; but this could not be taken as any iudica
tees of what the futere traffic would be.
Mr. G. ANDEneroNseconded the adopthen of the report,
acd it was carried unanimously.
Messrs. W. Firth, J. Bartf, A. Harris, jun. , and W.
Bower were re-elected directors of the company.
Mr. H. W. Blackburn was elected an aniitor, and the
allowance to the auditors was fixed at 20/. a-year.
Thanks were voted to the chairman, an i the meeting
separated.

PRICE OF GOLD. —The quotation of gold at Paris i
about 1 per mille discount, aed the sh,.rt exchange
Loudon is 25.10 per 11. sterling. 00 compat ing
.lie e
rates with the English Mint price of 31 17-. 10i 1. p,r
ounce for standard gold it appears that g ld is about
1-10th per cent. dearer in Paris than in odd, By
advices from Hamburg the price of g is 419 per
mark, and the short exchange on London is 13.31 per
11. sterling. Standard gold at the English Mint price
per cent. dearer in L.:,ndon
is therefore about 8-10ths
than in Hamburg. The course of exchange at New
1 York on London Itr bill. at 60 days sight is about 110
r cet.t., which, when compared with the Mint par
between the two countriis, ,ho.ve that the exchange
is
tl ghtly in favour of Eng a•ot ; and, after tasking
altow-
ance lor chargte of tratisport and difference of in,erest,
the present rate leaves a email profit on the importa-
i tion of gold from the United Staten,