The Sun.
London, England, 1867-08-17 00:00:00

~.~~.~~
z~

who had suggested several modifications of the con-
tract, which involved concessions on both sides, and
he believed the result was that that part of the line
between Brompton and Westminster-bridge would
be opened for traffic by the commencement of the
summer of 1868. It was proposed that the new
debenture stock should be offered pro rata to the
shareholders, and no doubt it would be mainly taken
up by the present proprietors. Ile thought that the
abandonment of the Euston and Charing -cross line
would trove a great benefit to the Metropolitan
District Company, with which, to some extent, it
would have competed. Every facility would be
offered to the London and North Western or any
other company for the purpose of bringing traffic
from the north to the south of London.

Mr. SHERRIFF, M.P., seconded the motion.

A SHAREHOLDER called attention to the remune-
ration of the directors. Ile thought that the remu-
neration would have been fixed at £2,000 a year.
At present the management charges were higher
than those of the Metropolitan. They had not
yet completed two miles of the line, and bad
spent £1,800,000. The shares upon which the calls
had not been paid should be forfeited ; and he wished
to know what amount of debenture stock it was pro-
posed to issue, and when it was expected the line
would be opened to Cannon-street, and if the line
from Brompton to Cannon-street would be con-
structed for £3,600,000.
Another Shareholder moved an amendment re-
quiring a detailed statement of the capital of the
company, and of the manner in which it had been
expended.
The CHAIRMAN explained that with regard to the
remuneration of the directors, £4OO of the £1,930
which appeared in the accounts belonged to the pre-
vious year. The original estimate might possibly be
exceeded, but it would be by a very small amount.
Theyhad no objection to give more details if required
but the accounts were open to the examination of
shareholders at the office, and the form in which
they were made out was the usual one. There had
been paid up on capital account during the half-year
£93,000, and the arrears amounted up to the pre-
sent time to £200,000.
Mr. PARSON said he thought the position of the
company had been much improved during the last
month. As to traffic he was confident that it would
be quite sufficient to pay a very considerable divi-
dend.
The amendment was withdrawn, and the report
of the directors was adopted.
The meeting was adjourned to the 22d inst.
A vote of thanks to the chairman and directors
closed the proceedings.

NORTH LONDON.
The report of the directors of this company states
that the receipts from traffic for the past half year
showed a gross increase of £10,246, being 11-19,026
against £138,780 for the corresponding half of 1866.
The passenger traffic showed an increase of £13,971,
but there was a decrease in goods and live stock of
£3,425. The working expenses showed an increase
in maintenance of way,works, and stations of £1,768.
The general charges included £3,010 for compensa-
tion, arising chiefly out of the settlement of claims,
in respect of accidents in the latter part of last year.
There was also an item of £2,000 " claims in sus-
pense," pending the settlement of questions in re-
spect to passenger duty and other charges. The
general result after payment of interest on deben-
tures was an available balance of £60,938, out of
which the directors recommende the payent of a
dividend at the rate 5i per cent.d per annumm on the
ordinary stock and share capital, and at t
referenhe rate ofe
stock
41 per cent. per annum on the p
debentures of
c,
leaving a balance of 11,188. The
the company which fell due on the 10th
on favour-
July had
been renewed or replaced by new loans
able terms. A new station bad been constructed
The
and opened for passenger traffic at Old Ford.
new station at Haggerston on the City Extension
line was approaching completion, and would be
opened for traffic on Sept. 1.
The capital account showed that £2,976,458 had
been expended. The revenue account for the half
year ending June 30 last showed that £157,753 had
been received, . and £83,732 expended, leaving
, £2,000 in suspense and a balance of £71,930.

MEWS AND EYE.
The fifth ordinary meeting of this company was
held on Monday at Eye—Sir E. C. Kerrison in the
chair.
The CHAIRM said paid-up capital was
£13,442. The Parliamentary expenses had been
£1,386 ; land compensation, way, and works,
£13,946 ; sundry payments, £325 ; leaving a
On Nov. bal2
-
lance of 12,215 against the company.
they would receive £l,OOO forould not shares sbeold,paid for
on the
understanding that the calls sh
a year. The earnings
nd of the line
£66. for April were
£lO7, for May £7l, a for June
The report was adopted.

-