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

RITYMNEY.

The report of the directors states that the expen-
diture on capital account during the half-year was
£1.3,712. The total receipts on revenue account
amounted to £31,360, against £31,363 in the same
half of 1865, showing a decrease of £2,997. The
balance at the credit of the revenue account was
£3,001, out of which the directors recommended a
dividend on the ordinary stock at the rate of 3 per
cent. per annum, leaving a balance of £145. The
total expenditure on capital account amounted to
£557,810. The revenue account showed that
£34,360 had been received, and £14,738 expended
in working, leaving a balance of 1.19,622.

lIANCHESTER, SHEFFIELD, & LINCOLNSHIRE.
The total expenses of this company's railways and
canals, including rents, tolls, duty, &c., from Jan.
1 to Feb. 10, 1867, amounted to £58,953, as against
£58,668 for the corresponding period of 1866. The
proportion of the South Junction receipts accruing
to this company from Jan. 1 to Feb. 10 amounted
to £4,042, as against £4,550 for the corresponding
period of 1866, and the expenses to £2,296, as
against £2,642.

MONT CENIS (LIMITED).
The second half-yearly general meeting of this
company was held on Tuesday at the office, Victoria-
street, Westminster—Mr. A. Brogden in the chair.
The report stated that nothing had occurred to
alter the opinion of the directors as to the very en-
couraging prospects of the undertaking. The da-
mages to the road by the late floods were limited to
the section between San Michel and Modane, and
would not interfere with the opening of the line be-
tween Mondane and Susa by May next, as previously
stated, thus leaving only ten miles to ,complete the
total distance, which they trusted would be finished
in July next. The damaged portions of the road be-
tween San Michel and Modane were about to be
repaired in a very substantial manner, at the ex-
pense of the French Government, and the railway
would thus be protected from a recurrence of such
disasters for the future. With regard to the por-
tion of the damages which would fall upon the
company, a special decree had lately been signed by
the Emperor, according to which two-thirds of the
actual losses incurred would be allowed to the com-
pany. The rails on the Italian side were all deli-
vered on the mountain, and also the greater portion
on the French side; and the permanent way,
,with
the exception of the central rail, was laid over the
whole length from Susa to Lanslebourg. The con-
struction of the locomotives had been intrusted to
Messrs. Gouin and Co., of Paris, and the railway
carriages and other stock to Messrs. Chevalier
Cheilus, and Co., of Paris, who entertained no doubt
of being able to deliver a sufficient number in time
for the opening of the line. The Board had reason
to believe that the total cost of construction would
be considerably within the amount named in the
prospectus ; while theadditional investigations made
by Mr. Fell on the Mont Cenis. showed that the
traffic would exceed the calculations previously
made. The amount expended on the works, and in
payment of interest and other charges, was £137,155,
and deposited as caution money with the French and
Italian Governments £8,186, leaving a balance of
£10,790 at the bankers and in hand.
The CHAIRMAN, in moving the adoption of the
report, congratulated the shareholders on the pro-
gress which had been made in the works, notwith-
standing the late unprecedented floods and the winter
season. He was glad to assure them that the greatest
portion of thp lino wonlil hp (Ton for traffic. in May
next. That was still further confirmed by a letter he
had received that morning from Mr. Fell. He
informed them that some experiments lately
made on the Mont Cenis, to test an im-
provement introduced in the locomotive with
the object of dispensing with the centre rail
over a considerable length of time, had proved
successful. The improvement in the traffic was so
rapid that the number of horses and mules em-
ployed on the common road for the service of the
through traffic had increased 25 per cent. since the
beginning of last year. He believed that the pro-
spects originally held out would be far exceeded.
The time had now arrived when the bonds of the
company would have to be issued to provide means
for the completion of the line, and he invited the
shareholders to cordially co-operate with the direc-
tors in accomplishing this object.
Mr. W. BELL seconded the motion, which was
carried unanimously.
Mr. Cannan was elected auditor, and a vote of
thanks to the chairman concluded the proceedings.