The Sun.
London, England, 1866-08-02 00:00:00

LLANELLY.

The half-yearly general meeting of this company
was held on Tuesday, at Radley's Hotel, Black-
friars ; Mr. C. Fowler in the chair.
The ieport stated that the earnings of the under-
taking for the half-year ending June 30 last were
£17,978, and the working expense; including hire
and purchase of waggons, £10,058, leaving a profit
of £7,920. To this was added £347 the last
account, making £8,267. After paying interest on
debentures and rent of the Vale of Towy Railway,
together £3,208, there remained a surplus for divi-
dends of £5,059. The interest on the A preference
stock and B preference shares amounted to £2,522,
leaving £2,537; out of which the directors recom-
mended a dividend at the rate of 2i per cent. per
annum, carrying forward £74. The expenditure on
capital account during the half-year was principally
in the purchase of locomotive engines and rolling
stock. The earnings of the Carmarthen undertaking
during the half-year amounted to £2,718, and the
working expenses and tolls payable to the Carmar-
then and Cadogan Railway Company to £2,468,
including a considerable amount charged for loco-
motive expenses not incurred in the half-year.
The CHAIRMAN, in moving the adoption of the
report, said it was not so favourable as they could
wish, but under the difficulties they had to contend
with the disadvantages were less than might have
been expected. When those difficulties passed away
they looked forward to a much better state of things.
Mr. SMALE seconded the motion, which was car-
ried unanimously.
A dividend at the rate of 21 per cent. per annum
for the past half-year on the ordinary stock of the
company was declared, payable on Sept. Ist next.
The meeting was then made special, and the
directors were authorised to raise additional capital
by the issue of B preference shares to the amount of
£50,000 to be entitled to a rate of interest not ex-
ceeding 6 per cent. per annum. It was also agreed
that any of the moneys not required for the purposes
of the original undertaking might be applied to those
of the Swansea and Carmarthen undertakings at a
rate of interest not exceeding 10 percent. per annum.
A meeting of shareholders in the Swansea lines
undertaking was then held, and the directors were
authorised to borrow £40,000 on mortgage on such
terms as the directors from time to time might think
fit. The proceedings concluded with a vote of thanks
to the chairman.

LONDON, CHATHAM, AND DOVER, AND GREAT
NORTHERN.
By an arrangement between these two campanies

through trains commenced to run yesterday between
Herne-hill on the London, Chatham, and Dover
Railway, and King's-cross, Holloway, Seven Sisters-
road, Hornsey, Wood-green, Colney Hatch, Bar-
net, Potters'-bar, and Hatfield, on the Great
Northern Railway. This service is intended to pre-
vent the delays and inconvenience heretofore expe-
rienced in changing carriages at Ludgate-hill, Far-
ringdon-street, or King's-cross. The Great Northern
and the London, Chatham, and Dover trains run
the whole distance between Hatfield and Herne-hill.
There will be 15 trains daily from Hatfield to Herne-
hill, and 14 from Herne-hill to Hatfield, stopping at
all the intermediate stations.