The Sun.
London, England, 1858-09-01 00:00:00

The following is an abstract of the report which was
adopted :—" The depression of trade, especially in iron,
consequent upon the stoppage of railway enterprises in
America and India, seriously affected the commercial pros-
perity of the Furness district, so that the traffic returns
(V 7,846 7s. ld.) of the last half-year are not so favourable
as they have been during some previous half-years; but
the revival of that particular trade may be anticipated
before the lapse of any lengthened period, but still the
directors are able to recommend a dividend at the rate of
7 per cent. per annum for the half-year ending 30th of
June last. There has been a reduction in the work-
ing expenses, and the directors will continue to give
their careful attention to the subject. The expendi-
ture on capital account for the half-year amounts to
the sum of £19,492 18s. 10d., which includes the sum of
£6,000 for calls on the shares in the Coniston Railway held
by this company. A further sum of £4,000 remains to he
paid on these shares. To meet the expenditure on capital
account, £30,000, part of the capital authorised to be raised
by the Furness Railway Act, 1855, was allotted to the
shareholders,sthe whole of which has been accepted
a
The £lO,OOO authorised to be raised by
the Coniston Railway Act has been allotted and accepted as
5 per cent. preferential shares. The works at the Millwood
Junction, and at the junction with the Whitebaven and
ordinary shares. nearly
Furness Railway at Foxfield, have been lately completed.
The curves have effected a great convenience for the through
traffic, and a saving in workin, it. A considerable portion
of the proposed renewal of Barrow Piers is completed, and
the sum of £1,487, being about half the amount of the work
contracted fur, has been appropriated this half-year from the
reserved fund of £6,000 towards the expenses of this renewal.
The arrangement with the Ulverstone and Lancaster Com-
pany, under which that line is worked by the Furness Com-
pany, continues in force, and is satisfactory tohoth companies.
The Ulverstone and Lancaster Company having had occa-
sion to apply to Parliament for power to raise additional
capital, introduced clauses in their new act to enable them
to sell or lease their line to the Furness Company, but the
directors will take no measures tending to connect the com-
panies without the knowledge and sanction of the proprie-
tors. The permanent way, works, and rolling stock are in
good order. An increase of £2OO in the expenditure on the
carriage acenunt' is caused, partly by the thorough repairs
which some of the passenger carriages required,anti partly from
duplicate wheels and axles having been provided for the new
waggon stock, an expenditure which is not likely to occur
again for a long time. The diversion of trall',a to the (Aver-
stone and Lancaster Railway has naturally diminished the
receipts from the steamboat between Fleetwood and Piel.
It has consequently been thought advisable to lay. up the
off Helvellyntbis
traffic duringn ex tthete
yearwt lilnedri.rectlon continuing
mwiutecsideofiry leavingauided
by the result of the exoorienue of this year. The improved
depth of water in the approach to Barrow Piers has given
great facility to trade. There has been no diminution of
depth by deposit, nor is any likely to take Blare,"
The dividend, as recommended in i,hereport, was declared,
and the proceedings terminated in the usual manner.

RITYMNEY.
The half-yearly meeting of the proprietors of this com-
pany WB5 yesterday held at 28, Great George-street, West-
tninster—Mr. John Boyle in the chair. The following is an
abridgement of the report for the half-year ending 30th
June:—

'The line from Cardiff to Rhymney was opened for the
carriage of minerals on the 25th February, and for passen-
gers on the 31st March last, but in consequence of the great
depression of trade, and the circumstance that none of the
coal proprietors have matured their arrangements for send-
ing their coal to the Port of Cardiff, the coal traffic on the
line cannot at present be said to exist. The revenue has
been derived almost exclusively from passengers, general
goods, and iron, and indicates to a limited extent only the
resources :of the undertaking. No final arrangement has
been made with the Taff Vale Railway Company in regard
to the tolls to be charged by them for the traffic passing over
their line. The sum to be deducted on that account to the
30th June last may be estimated at £BOO. The board re-
commend that the balance on revenue account of £2,386
2s. 9d. shall be carried to the credit of the current half-year.
No difficulty has been experienced in conducting the traffic
with regularity and efficiency. The passenger and general
goods traffic will prove a more important source of revenue
and there is a steady Increase in the
than was anticipated,
number of through passengers and in the amount of
goods traffic with the Midland Counties and the north.
The Rhymney Iron Compan
y have to a great extent com-
pleted arrangements for forwarding nearly the whole of
their traffic to Cardiff. When the trade improves and the
shipping arrangements at Cardiff are perfected, a large
revenue from the traffic in iron and iron ore may be reason-
ably anticipated. From strikes among the colliers, and
other causes, the coal trade has for a considerable time been
in a state of great depression. This has been felt at all the
coal ports, and particularly so at Newport and Cardiff. The
prospects of the trade, however, are now somewhat im-
proving. There are several collieries already connected
with the line, and others in a forward state, from which,
with en improved trade, a good traffic may be expected.
Additional siding accommodation is being provided at the
Crockherbtown Junction. The charge of ld, per ton made
by the Taff ValO Railway Company in respect of traffic
delivered by them at the Crockherbtown Junction, and
which the directors have hitherto paid under protest, has
materially impeded the development of the coal traffic over
the dock branch. The directors have been aivised that the
Taff Vale Company have no authority to make this. charge,
and they are taking active steps for having the question
decided, An agreement on favourable terms has been en-
tered into with the trustees of the Marquis of Bute, by
which very extended shipping accommodation on the west
side of the east dock will be afforded to this compeny."
The CHAIRMAI:q3 in Waving the adoption of the report,
said it was so full and explanatory that very few words
would be required from him. They could not fail to express
their gladness at the completion of their linei belt that joy
was somewhat diminished t,y the fact that the general de-
pression of trade which had interfered with railway re-
'urns generally bad affected thew more than any other