The Sun.
London, England, 1858-11-17 00:00:00

BAILWAY _INTELLIGENCE.--

. ULSTER.
The report of the directors of this company, re-
specting an extension line to Clones and Cavan,
states that, in order to maintain friendly relations
with neighbouring companies, an arrangement was
entered into between the Ulster and Dundalk and
Enniskillen boards, under which the Ulster Com-
pany were to make a line of railway from Armagh
to Monaghan, the Dundalk and Enniskillen Com-
pany undertaking to construct a line from Mona-
ghan to a point on their own main line, near
Ballybay, and to complete a line from the same
point through Cootehill to Cavan. Pursuant to
this arrangement the line to Monaghan has been
made ; and the Dundalk and Enniskillen Company
in the session of 1855 applied to Parliament for an
Act to authorise them to carry out their portion of
the undertaking. In consequence, however, of un-
expected difficulties of a very serious character,
they were at that time obliged to give up the line
from near Ballybay to Monaghan ; but to insure
the completion of the arrangement a clause was
inserted in the Act then obtained. Under the
sanction of the Board of Trade, and. with the assent
of the Ulster Company, the Dundalk Company
postponed the construction of their portion of the
extension line. The question of the best line for the
district, and for the interest of the companies con-
cerned, having been opened in discussions at a
meeting of the boards of the Dublin and Drogheda,
the Dublin and Belfast Junction, the Ulster,
and Dundalk and Enniskillen Railway Companies,
the basis of an arrangement was suggested,
which, after many anxious meetings held to
consider and discuss modifications and details, had
been concluded, subject to the sanction of the
shareholders of the various lines. The heads of the
arrangements between the Ulster Company, the
Dublin and Drogheda, the Dublin and Belfast
Junction, and Dundalk and Enniskillen Companies
respecting the making of the line from Monaghan
to Cavan were as follows :-1. The Dundalk and
Enniskillen Company was to obtain power to
abandon the line from Shantonagh, near Ballpbay,
to Cavan, saving the portion between Shantonagh
and Cootehill. 2. The Ulster Railway Company
to be at liberty to obtain an act for constructing a
line of railway from Monaghan to the Dundalk
and Enniskillen Railway, at a point to be deter-
mined by the engineers of the two companies, at
or nepr Clones. 3. The Dundalk and Enniskillen
Company were to obtain power to construct a line
from their main line, at a point about one mile and
a quarter west of Clones, via Belturbet, to Cavan,
there to join the Midland Great Western on the
level. 4. Clauses were to be inserted in both bills,
giving the two companies all reasonable facilities
for their traffic and protection from competition in
as full and ample a manner as Parliament might
sanction, in respect to trade to or from any of the
stations between Monaghan and Cavan, both in-
clusive. 5. The Ulster Company were to subscribe
one-fourth of the capital, not exceeding £30,000,
required for making the line between Clones and
Cavan ; the Dublin and Drogheda, and the Dublin
and Belfast Junction Companies each to subscribe
£20,000 ; and the Dundalk and Enniskillen Com-
pany to subscribe the remainder of the capital re-
quired. Separate books for capital and revenue
accounts were to be kept of the expenditure and
the earnings of the line between Clones and Cavan
under this agreement. The net profits were to be
divided among' the subscribers in proportion to the
sums subscribed by each. Two directors, appointed
by the Ulster board, were to be added to the Dun-
dalk and Enniskillen board, for the purpose of
superintending the expenditure of the capital, the
managing of the line, and the keeping of the sepa-
rate accounts. The directors of the Ulster Com-
pany recommend the shareholders to adopt this
arrangement. The proposed line to Clones would
intersect the Dundalk and Enniskillen Railway at
a point which would give to Enniskillen and the
districts westward of it easy access to Belfast. The
extension from Clones, via Belturbet, to Cavan
would provide railway accommodation to a rich
agricultural country, and be very nearly the
shortest line between Clones and Cavan that could
be made. The line from Monaghan to Clones would
be completed for £150,000. In going to Parlia-
ment next session the directors proposed that
powers should be obtained to enable the company
to raise money to contribute £40,000 towards the
extension from Dungannon to Omagh, subject to
the sanction of the proprietors ; £25,000 to provide
additional working stock for working the Ban-
bridge and other lines, £35,000 for doubling the
Monaghan line, and other sums for the enlarge-
ment of stations, so as to make their undertaking
complete ; with this view they propose to issue
18,000 shares of £l2 10s. each, allowing interest at
the rate of 3 per cent. per annum until the opening
of the new lines, then to take dividend with the
ordinary shares ; also powers to convert the deben-
ture debt into a 4 per cent. debenture stock.