The Sun.
London, England, 1867-02-21 00:00:00

RAILWAY INTELLIGENCE.

SOITTILEASTERN.
The directors of this company have resolved to re-
commend the proprietors, at the general meeting on
the 28th inst., to declare a dividend at the rate of 3
per cent. per annum for the past half-year.

BRISTOL AND EXETER.
The report of the directors states that the revenue
account for the half-year ending Dec. 31 shows au
available balance of £47,979, out of which a divi-
dend at the rate of 41 per cent. per annum was re-
commended, payable on sth M arch, leaving £2,474
to be carried to next account. The total traffic re-
ceipts for the half year amounted to £195,252, as
against £191,451, showing an increase of £3,801,
including the recipts of the increased mileage of the
Chard Branch (124 miles) from Sept. 11. The
working expenses amounted to £101.436, or 51.95
per cent., as against £96,057, or 50.19 per cent., for
the half-year ending Dec., 1865, showing an in-
crease of £5,379. The total receipts from all sources
on revenue account for the half-year amounted to
£206,316, as against £201,951, showing an increase
of £4,365, and the balance, of £l,lOO, brought from
the previous half-year, made a total of £207,417, as
against £204,029, showing on the total revenue
receipts an increase of £3,388. The total expendi-
ture of all kinds (except debenture and preference
interest) amounted to £108,380 (as against
£101,640), leaving a profit of £99,037, out of which
had been charged for debenture and preference
interest £51,058, leaving the balance of £47,979
available for dividend. The capital account showed
an increase of £206,255. The expenditure of capital
charged in the half-year amounted to £106,829, and
the total capital expenditure (including investments),
to Dec. 31, was £4,345,881, leaving a balance of
£171,843. The average rate of interest on the de-
bentures outstanding at the close of the half-year
was £4 ss. 9d. per cent., as against £4 3s. ld.
per cent. in June last.

NORTH AND SOUTH-WESTERN JUNCTION.
The directors state in their report that the traffic
receipts in the past half-year amounted to
£6,384, against £5,633 for the same half of
1865, showing an increase of £731. The expenses
showed an increase of £669, including £5OO placed
to the credit of renewal account. After pay-
ment of interest on debentures there was a net ba-
lance of £2,735, out of which the directors recom-
mended a dividend at the rate of 6 per cent. per
annum, leaving a balance of £35. The inconveni-
ence to which railway companies were liable in ob-
taining the renewal of debentures under any pres-
sure in the money market had induced the directors
to recommend that additional ordinary share capital
be created to the extent of £28,600, for the purpose
of extinguishing the existing debenture debt of the
company. The capital accountshowed that £113,300
had been expended.

LYNN AND HUNSTANTON.

METROPOLITAN AND ST. JOHN'S WOOD.
Übe half-yearly general meeting of this company
was held yesterday at the office, Old Palace-yard,
Westininster ; Mr. W. Austin in the chair.
Mr. HENCHMAN, the secretary, read the report,
which stated that considerable progress had been
made in the execution of the works since the last
meeting, but in consequence of the limited extent
to which the preference shares were taken up by
the proprietors, it was deemed prudent to slacken
the progress of the works during the winter months.
It having been found after a careful investigation
that £150,000 in addition to the balance of borrow-
ing powers, would be sufficient to complete and open
the line and stations as far as the Swiss Cottage, the
Metropolitan Railway Company resolved to recom-
mend their shareholders to subscribe for £lOO,OOO of
preference shares of the St. John's-wood Company,
provided that arrangements could be made for rais-
ing the remaining £50,000 required. Those arrange-
ments having been made the directors hoped
to be in a position very speedily to enable the con-
tractors to urge on the works with renewed vigour,
and to complete and open the line early in the en-
suing autumn. The capital account showed that
£358,533 had been expended. The report of the
engineer stated that four-fifths of the railway in
length were not completed, and that arrangements
for completing the remainder of the railway works
and stations, and for working the traffic on satis-
factory terms, had been concluded. He trusted that
in the early autumn of this year the line would be
open, and through trains to and from the city
running over it.
The CHAIRNIAN, in moving the adoption of the
report, congratulated the shareholders on having
succeeded in making considerable progress with the
works, but the progress would have been much
greater were it not for the unreasonable discredit
that had been thrown on railway debentures, which
had always been considered excellent security. They
had purchased the land for a double line of railway
throughout, and they would have a large quantity
of surplus land to dispose of, which would improve
their position considerably. The traffic on the line
would no doubt be very considerable. Trains would
run east and west from their junction with the
Metropolitan Railway, and also over the Metropoli-
tan District Railway when open for traffic. They
had no doubt whatever that it would be a profitable
undertaking.
Mr. LEE, M.P., seconded the motion for the adop-
tion of the report, and it was carried unanimously.
The retiring directors, Mr. D. Nicoll and Mr. A
C. Sherriff, M.P., were re-elected, and also Mr.
Bellamy, the retiring auditor. The proceedings
concluded with a vote of thanks to the chairman
and directors.

WEST NORFOLK JUNCTION.
The half-yearly meeting of this company was held
at Lynn on Saturday, Mr. L. Simpson in the chair.
Th=3 report stated that the total outlay on capital
account had been £103,500, for which 181 miles of
railway had been constructed. The estimates had
thus been exceeded to the extent of £3,500, which
bad been raised by a temporary loan, to be dis-
charged out of revenue. The traffic receipts from
Aug. 17 to Dec. 31, 1866, had been £1,355, of
which 30 per cent. was paid to the Great Eastern
Company for working expenses. Of the £677
balance, £602 was absorbed in interest on deben-
tures and £35 in general expenses, leaving £4O,
which was carried forward to the next account.
On the motion of the CHAIRMAN, the report was
adopted. Mr. Shaw and Mr. Durraut were re-
elected directors, and Mr. Ilolditch was re-appointed
auditor.
The proceedings terminated with a vote of thanks
to the chairman and directors.

The half-yearly meeting of this company was held
at Lynn on Saturday—Mr. L. Simpson in the chair.
The report showed a balance of £2,175 applicable
to dividend, which was recommended at the rate of
4 per cent. per annum, leaving a balance of £75 to
be carried to the next half-year. The traffic receipts
of the past half-year were £5,648, as compared with
£5,422 in the corresponding six months of 1865,
£5,408 in the corresponding period of 18G4, and
£4,212 in the same half of 1863. The steady pro-
gress iu the revenue was attributed to the gradual
development of Hunstanston as a sea bathing place,
and to the traffic brought on the line by the West
Norfolk Junction Railway, which was opened in
August. The capital account showed that £80,419
bad been received, and £80,690 expended, leaving a
balance of 1271.
The CHAIRMAN, in moving the adoption of the re-
port, said that the best opinions formed as to the
value of this line would be realised.
The report was adopted and the dividend declared.
Major Hare And Mr. Durrant were re-elected direc-
tors, and Mr. Plews was re-elected auditor. The
proceedings terminated with a vote of thanks to the
chairman and directors.

CORN WALL.
The report of the directors states that during the
half-pear ending Dec. 31 last £8,245 of the 44 per
cent. guaranteed perpetual preference stock had been
issued, and a similar amount of the 6 per cent. pre-
ference shares had been redeemed, and debentures to
the amount of £71,774 had been issued. The inte-
rest on the debenture debt during the year 1866
amounted to £19,952. The net revenue of the COM-