The Sun.
London, England, 1867-04-15 00:00:00

CARLISLE AND SILLOTH.

The directors in their report for the past half-
year regret their inability to recommend any divi-
dend even upon the preference stock. Although the
accounts show an apparent surplus, there may turn
out to be, iu reality, a considerable deficiency ; for,
of the fixed rent of £l,OOO, less income tax, due on
the 31st of January, 1867, only £l5B 12s. 2d. has
yet been received; the North British Company hav-
ing not only deducted ftoin the rent the £Bll ss.
paid in October last as contingent rent (alleging
that this rum was paid in error), but they have also
charged the Silloth Company £l3 9s. 6d. as inte-
rest upon it from the 2d of October, 1866, to the
Ist of February, 1867. The £Bll ss. was distri-
buted among the holders of the preference stock of
the company in October last.

GREAT NORTII OF SCOTLAND.
The report of the directors states that the revenue
a
of the company as now am al gamated with the For-
martine and Buchan, the Alford Talley, the Inve-
ruaryt:ni‘ ff, d
dlaoelddumeladnrumr,nrff theri AberdeenExtension, the
td h Te
lit
u Keith
and
Bnff,
including also
aalnsod
fivethe Sintroanttlhlsp, e
rye
ven Railwayn revenue
offor
tChoemthDpe
lines leased to the company,s amounted
edrwlionirk:e're II
ch,
half-
year ending 31st of Janua last to £79,113. eaFesurioiedisne.
railwaysthwas deendducotieddnatehi
From this was
andisother expenses,
amounting to £41,328 ; thing
rents of the Deeside
on the
(averging
interest on debentures and debenture ,268
deducted; andthe the
stock, £15,088,
leaving £17,428.
in-
teresti, ,0350 n; floatingthe
interest debt,o
works of the Denburn Junctinonstßailw6ayp,eric2e,6n7t2.);
(11
iodfrutheei
preferenceunfinished
the guaranteed dividend on Oldn
able baldainv
stock, £3ll ; and the guaranteen
with
hne and Buchan
cideeonfdi4a,t67th2e.
rate of 1i per cent. on the Fortnart'
xesandihbiasited by the re taccounts.
leadP:scino:bined to produce the
£57 from the
ordinary stock, £796,
ev precedingeafraiovne su roai
circumstances
nel
inf -r
eiai
ntree,
The snow-storms of December andPJaopsnfeenurnaprwy,arwdahicohf
bills
pay-
, occasioned a net loss to the company
' £5,000, the excess of interest over son
able on the floating debt, discount
amounted to nearly £:,000; and thedcoebuiltrins:iiBctnt.o
recommended by the directors, and adopted sofeorntohwe
first time, of debiting revenue with interest
un-
finished works, instead of, as formerly,
capital, occasioned a further charge against revenue
of
nell as
of £2,672. Those items together amountedastow'
ed in tis/10,000. The board believed that the debiting of
revenue with all interests on unproductive
productive expenditure would ultimately prove most
°acng
com-
pany.condu civTenteowthhoelpee
armtn:unnetn,tii2n,t6e7r2e,stseioxarfpgptrho
way on the present accounts wad applicoaBb,loeooto,
thetiohn
company's subscription to the Dehburn line and
joint station at Aberdeen, now rapidly
completion. The company's liabilities in connexion
with those works was limited to
balance being payable by the Caledonian Company,
The board recommended that no part of the dis-.
posable balance be at present divided, but that the
whole be carried to the credit of the current half-
year, ending 31st of July next. The directors hoped
and believed that the fortunes of the line had now
reached their lowest point, and that a gradual im-
provement might at length be looked for, De-
ferred dividend warrants would be issued to the
holders of the Five per Cent. Consolidated Prefe-
rence Stock, for dividend at that rate. The work-
ing expenses exceeded those of the corresponding
half-year by £1,600, of which £451 was due to the
recent advance on the price of coal for locomotive
purposes, £5OO for clearing the line of snow, and
£5OO for the use of three miles of the Highland
Company's line and joint station at Boat of Garten
Junction, Strathspey. All opposition had been
withdrawn from the company's bill for the creation
of preference stock, the creditors of the company
Wing agreed to restrict the inter* (NI their deb„