The Sun.
London, England, 1858-08-16 00:00:00

VALE OF MEATH.

The report of the directors of this company states that
the disturbance in the commerce of the country, occasioned
by the late monetary crisis, has been and is still severely
felt in the district traversed by the company's lines. This
has been aggravated by the strike of the colliers. The
receipts for the half year ending the 30th of June amounted
to £42,852, and for the corresponding period of last year to
£42,323, showing an increase of £5-29, or 1.2 per cent. The
large increase of 28.2 per cent. in the iron ore traffic Is a
gratifying feature, although all additions to that or any other
traffic which has been worked up the line (over the most un-
favourable gradients), without a corresponding improvement
in down traffic, is obtained only by considerably increased
working expenses and unproductive train mileage. The coal
traffic was the result of about five months' working, as prac-
tically the strike did not terminate until the end of January,
and in no one week since that event has the coal traffic regained
the pain t previously obtained. Fully 90 per cent. of the passen-
ger traffic of the line is derived from the workingclasses. The
large expenditure involved in the maintenance of the perma-
nent
way and its renewal bas caused the directors consider-
able anxiety. They propose, In the first place, that the outlay
now required for the maintenance of the permanent way
should, as far as practicable, be applied to the gradual re-
construction of the line ; and, in the second place, to appor-
tion any additional and extraordinary expenditure upon such
renewals as might he found absolutely necessary over seve-
ral succetsive half-years, so as not to materially elect the
dividend of any one half-year. The working expenses show
an addition of about £784, of which about £645 are due to
the maintenance of permanent way. The directors recom-
mend the payment of a dividend at the rate of £3 15s. per
cent. per annum (less income-tax) payable on the 30th inst.
The directors have made arrangements for providing such
a number of waggons as will meet the more urgent demands
of the local trade. The capital account shawed that
£957,611 had been received and £946,272 expended, leaving
a balance of £11,339. The revenue account for the half-
year ending June 30 showed, that £42,8.52 bad been received
and £23,096 expended, leaving a balance of £l9, 755.

KNIGHTON.
The first sod of the intended railway from Knighton to
Craven Artn4, it appears, will be cut on Thursday next at
Knighton, by Lady Jane Walsh. The ceremony will he
followed by a dinner, at which the Hon. R. W.Clive, M.P.,
is to preside.

ULSTER.
The half-yearly meeting of this company was held on
Wednesday, at Belfast, Mr. Coates in the chair.
On the motion of the CHAIRMAN the report was adopted,
and a dividend for the past half-year of El 7s. 6d.
per share, less income-tax, was declared. The retiring
directors, Messrs. Allen, Dulling, Murland, and Mullhol-
land, were re-elected.
The meeting was then made special, to consider an agree-
ment entered into by the directors of the Portadowia and
Dungannon Railway Company for working the line.
Mr. SitITII, the solicitor,read the heads of the agreement.
Mr. WORXMAN wished to know whether the Ulster com-
pany would be liable for any accidents that might occur oil
the Portadown and Durgannon Railway.
The CHAIRMAN said that if ao accidtnt occurred in roa-
sequence of the neglect of their servants they would be
accountable ; but if it were caused through any defect in
the works the Portadown and Dungannon Company would
be liable.
Mr. ALLEN, in reply to a question from Mr. Stewart,
stated that the agreement had been under the consideration
of the board in various ways fur four or five months, arid
they were fully satisfied with its provisions. The agreement
had been approsed by the directors and sharelipjders of the
Dungannon Company and by the Board of Trade.
On the motion of Mr. Smith, seconded by Mr. Stewart,
the agreement was sanctioned, and
After a vote of thanks to the Chairman, the meeting
sepnrated.

CORK AND BANI)ON.
The half-yearly meeting of this company was held on
Wednesday at Dublin, Mr. V. O'B. O'Connor in the chair.
The CHAIRMAN, in moving the adoption of the report,
stated that a considerable sum had been expended on re-
pairs of the line and on the rolling stock during the half-
year, and the line was now in excellent order. The bonds
of the company had recently been issued on mare reasonable
terms than formerly, and there remained about £4,000
worth of the bonds to be disposed of. He recommended the
shareholders to take them up, as they were welt secured.
The report and accounts were unanimously adopted, and
a dividend at the rate of 5 per cent. per annum on the No.
1 preference shares was declared.

After some observations in respect to improving the local
management of the line the proceedings concluded with
votes of thanks to the chairman, directors, and secretary.

DUBLIN AND BELFAST.
The report of the directors of this company states that
there was an increase in the traffic receipts of £957 as com-
pared with the corresponding period of 1857. The total
receipts for passengers and goods in the past half-year,
ended June 30, amounted to £27,667, against £26,710 in
the first half-year of 1837, and £25,958 in the same period
of 1856 ; the working expenses being £10,378, £11,395, and
£11,347 respectively. The directors consider the result very
satisfactory, and that the working expenses were mo-
derate, being only 34 3-stbs per cent. of the receipts,
The total income for the half-year amounted to £34,144, the
working expenses to £10,377, and, including rates and
taxes, interest, and all other charges, to 1;17.969, leaving
a balance of £16,176. To this SURI was added the balance
of £8,681, brought from the preceding half-year, making
the available sum £24,836. Out of this sum the directors
recommended a dividend at the rate of 4 per cent. per
annum, less income-tax, on the paid-up capital of the
company. The directors state that the construction of
the Banbridge line, which had been for some time sus-
pended for want of funds, has been resumed, and its com-
pletion within the next lute months might be expected.
For the advances made to the Banbridge Company, not ex-
ceeding £lB,OOO, the Belfast Company received preference
shares, bearing interest at the rate of 5 per cent. per annum.
An extension of the Dundalk and Enniskillen line from
New bliss to Lianasitea was opened during the half-year, and
a further extension to Lisbeliaw (only four miles from Ennis-
killen) waS ready for the inspection by the officer of the
Board of Trade. A new line of railway from Portadown
to Dungannon bad also been recently opened. The second
line of rails on 10 additional miles of the line had been re-
cently During the half-year the com-
pany received from opened for traffic.
the
Dublin and Drogheda Company
avan Branch
£15,000 on account of the
N
and the amount was being applied in reductionmortgage debt,
of the com-
pany's debenture debt.
The capital account to June 30 lastshow-dleathvaintg a balance
£1,102,111
bad been received and £901,147 expended,
of £110,964. The revenue account for t
expended fee
the half-year showed
that X 34,144 had been received, and£lo,9oo
working, leaving a balance of ,f 23,244.
Mr. Barton, the engineer, states in his report that
, h
permanent way has been safely and efficiently mai natta.i
d_
during the half-year at a reduced cost as compared with the
two !receding half-years.

DUTC.
The receipts on this line ford the or night tniHght ending the 31st
of July last amounted to £9,328, and for the corresponding
period of last year to £8,244, showing an increase of £1,084.
The receipts from the Commencement of the present book-
year, on the Ist of May to the 31st of July, amounted to
1:43,05;2, showing an increase over the corresponding period
of last year of £3,616. The workinz expenses for the fort-
night amount to .E 3,133,
or 33 37 per cent of the receipts,
and from the Ist of May to the 31st of July to D 6,547, or
3844 per cent. The accottnta for the last year having been