The Sun.
London, England, 1858-09-25 00:00:00

STOCKTON AND DARLINGTON.

A special meeting of this company was held yes-
terday at Darlington, Mr. T. Meynell in the chair.

The CIIAIRMAN stated that the time had now
arrived for putting in force the Act passed last
session for amalgamating the several lines hitherto
worked by this company, and to make them
part and parcel of the Stockton and Darlington
With a view to carry out this and other provi-
sions of the act, certain resolutions would be pro-
posed. Some of these referred to a rearrangement
and increase of the company's capital, with refe-
rence to which he would only say that every share-
holder in the companies now to be declared extinct
would have shares occupying exactly the same
position as before.

Mr. M'Nay, the secretary, then read formal re-
solutions, to the effect that the Wear Valley, Mid-
dlesborough and Redcar, Middlesborough and
Guisborough, and Darlington and Barnard Castle
Companies had ceased to exist as separate and dis-
tinct companies, and that the following would be
directors of the amalgamated company :—Messrs.
T. Meynell, H. P. Smith, H. J. Stobart, H. Pease,
M.P., A. Kitching, I. Wilson, J. W. Pease, J. C.
Hopkins, W. B. I. Hopkins, and W. Thompson.
That 42,000 shares of £25 each, bearing preference
dividends of 6 per cent., 33,998 of which to go in
lieu of Wear Valley and Redcar ; 8,000 ditto at 6
per cent., 7,120 in lieu of Guisborough and Barnard
Castle, with a proviso that the last-named shall
only receive 5 per cent till after Dec. 31, 1858; and
15,200 ordinary shares of £25 each be created, and
issued rateably among the holders of ordinary shares,
at the rate of one for three, a deposit of £2 to be
paid on allotment, £2 10s. on the Ist of Jan., and
£2 10s. on the Ist of April, so as to make them rank
with the shares of 1855, on which £7 had been paid.
After some brief explanations, these resolutions
were formally proposed and agreed to.
It was further resolved that the directors be em-
powered to give credit, in respect of dues, to the
Consett Iron Company, to an extent not exceeding
£50,000 per annum, for three years, on security of
a mortgage of their works.
A cordial vote of thanks to the chairman and
directors concluded the proceedings.

BIRMINGHAM AND SUTTON COLDFIELD.
A meeting of gentlemen interested in promoting
railway intercourse between Birmingham and
Sutton Cold&ld was held on Thursday at Bir-
mingham.
It appeared that two projects for the connexion
of Sutton with Birmingham by railway were now
before the public, and the partisans of each had been
endeavouring during the past two or three weeks to
secure supporters. One proposal is for a railway in
connexion with the Midland line, to run on the
eastern side of the Sutton turnpike ; the other is
proposed, in connexion with the London and North
Western Railway, to run on the west side of the
road. The meeting was an adjourned one of those
favourable to the western line. The Rev. W. K.
Bedford, rector of Sutton Coldfield, was in the
chair.

The CHAIRMAN said he had made up hie mind on
public grounds to support the western line, or that
connected with the London and North-Western
Railway. He believed that would afford most ac-
commodation to the public, and be the most profit-
able to the shareholders. He read letters from
Lord Somerville, Sir Francis Scott, Mr. Spooner,
M.P., and other landowners, all expressing concur-
rence in the western line, and hoping it would be
carried out.

Alderman HODGSON, as one of a deputation,
stated that the directors of the North-Western
Company had met them in a very candid and fair
spirit, and it had been agreed that three of their
directors—viz., Admiral Moorsom, Mr. Ledsam,
and Mr. Lyons—should be directors of the new
company. The North-Western board had further
agreed to co-operate with them in obtaining an act
of Parliament, and would work the new line for the
mere working expenses, which they undertook
should not exceed 50 per cent, of the receipts. The
scheme was a bona fide one.
Mr. ATTWOOD in a few remarks proposed a reso-
lution to the effort that the western hne was the
most desirable.

The motion was seconded by Mr. ROBBINS.
Mr. LUDLOW said the western line was decidedly
the best, and deduced from his calculations that a
dividend of 91 per cent. might be expected on the
capital employed.
After some discussion the motion was agreed to,
there being only two dissentients.
A vote of thanks to the chairman concluded the
proceedings.

CALEDONIAN AND 'DUMBARTONSHIRE

JUNCTION.

The half-yearly meeting of this company was
held at Glasgow on Wednesday ; Mr. A. Smollett,
M.P., in the chair.

The report stated that at the date of opening the
Glasgow, Dumbarton, and Helensburgh line, on
the 31st May last, the revenue was £46 below the
revenue of the corresponding period of last year. It
now exhibited a decrease of £23, thus showing an
apparent increase in the two months' traffic of £23,
as compared with the corresponding period of last
year. The revenue of the company had not been
materially affected by the division of traffic receipts
at equal mileage rates with the Glasgow and Helens-
burgh Company. There was a saving in the work-
ing expenses of £BB, as compared with the corres-
ponding period of last year, chiefly from the work-
ing by this company of a portion of the through
traffic to Glasgow. The gross revenue for the half-
year ending July, 31 last amounted to £7,020 and
the expenses to £3,336, leaving a balance of £3,684.
The directors recommended the usual dividend at
the rate of 4 per cent. per annum, leaving £l4 to
be added to the contingent fluid, which would then
amount to £630. The total expenditure on capital
account amounted to £257,358. The capital en-
titled to dividend amounted to £183,510.
On the motion of the CHAIRMAN, the report was
unanimously adopted, and a dividend at the rate of
4 per cent. per annum for the half-year was declared,
payable on the 29th inst.
The meeting then separated.