The Sun.
London, England, 1866-02-01 00:00:00

RAILWAY INTELLIGENCE.

METROPOLITAN.

The directors of this company have resolved to
recommend to the proprietors a dividend for the
past half-year at the rate of 7 per cent. per annum
on the ordinary stock and new ordinary shares of
the company respectively.

NORTH STAFFORDSHIRE.

The directors of this company, at a Board meet-
ing held yesterday, determined on recommending
that a dividend at the rate of 41 per cent. per
annum be declared for the half-year ending the
31st of December.

LLANELLY.
The half-yearly meeting of this company was held
yesterday at Radley's Hotel, Bridge-street, Black-
friars ; Mr. J. Biddulph in the chair.
The report stated that the earnings of the under-
taking during the half-year ending the 31st of Dec.
were £19,622, the working expenses, inclusive of
hire and purchase of waggons, were £10,157. The
receipts showed an advance of £1,456 over those of
the same half of 1864, and the expenses an increase
of £1,429. The receipts for the half-year showed a
profit on the working of £9,465, to which was added
a balance of £192 from the preceding account,
making £9,657. After payment of interest on de-
bentures and rent of Vale of Towy Railway,
together £3,427, there remained a surplus for divi-
dend of "16,230, out of which £1,943 was deducted
for interest at 5 per cent. per annum on the A ;pre-
ference stock and B preference shares, leaving £4,287,
out of which the directors recommended a dividend
for the half-year on the ordinarystock at the rate of
4 per cent. per annum, leaving a balance of £346 to
be carried forward. The income of the under-
taking for the year was £37,787, being an in-
crease of £2,656 over that of 1864. The steady
advance in the goods traffic was very satisfac-
tory, but had been attended with increased ex-
pense, owing in a great degree to the new arrange-
ments for the establishment of ,through traffic with
other companies. The cost of maintaining " the
permanent way and works had been enhanced.
During the storm in Norember a portion of the line
was Carried' away by an irruption of the sea. The
Vale of Towy Company were seeking Parliamentary
sanction for a lease of the, line to the Central Wales
Railway Company, with respect to which due efforts
would be made by the directors for the protection
of the interests of the Llanelly Company. The ex-
tension of the narrow gauge line:of the Carmarthen
undertaking to the Great Western Railway near
Carmarthen had not been proceeded with during
the half-year, and remain still incomplete. The
earnings of this undertaking from the opening of
the line from Llandilo to Carmarthen on the Ist of
June last to the 31st of December were £2,469, and
the expenses, inclusive of tolls payable to the Car-
marthen and Cardigan Railway Company, were
during the same time £1,409, leaving a balance of
£1,060 applicable to payment of interest on deben-
tures. The opening of the Swansea lines under-
taking was seriously delayed by the non-completion
of the works and the want of the requisite rolling
stock. Goods trains had been running on it for
some weeks on the contractor's account, but, owing
to the incompleteness of the terminal works at Swan -
sea, it could not be opened for traffic. The capital
account showed that .£.368,803 had been expended
on the original undertaking.
The CHAIRMAN, in moving the adoption of the
report, said he thought the proposed dividend, at the
rate of 4 per cent. per annum was satisfactory. The
expenses had been increased during the past half
year owing to arrangements for through traffic with
other companies, which forced them to keep up a
larger staff than would have been necessary for the
xsual traffic. The rates and taxes had been higher,
and wages had increased. He thought on the whole
they had reason to be satisfied, and he trusted that
on the completion of the new lines a large traffic
would be developed.
Mr. FOWLER, a dirdttor, seconded the motion.
In reply to questions by Mr. Walker, it was stated
that they could not tell when the Central Wales
linei,would be opened for traffic. 'The works were
progressing, but had been found.more difficult than
was anticipated. The company had offered the
Vale of Towy Company 4 per cent., but the Cen-
tral Walei Company had offered them 5 per cent.
after April,-1868.

The report was thw unanimously adopted, and a
dividend at the rate of 4 per,,cent. per annum on the
original stock, for
.the pastehalf year, •was declared
;payable on Ist March. - "
Messrs. Bldunt;Klrkwooll, and Barbary, the re-
tiring directors, wtra re-elected, and in the room of
Mr. Jones and Col. Miller, who retired, Mr. Mur-
dock and Major Watkins were elected directors.
The meeting was then made special, and the di-
rectori were authorised to raise, for the Swansea
lines, £120,000 by the issue
_of 5 per cent. prefer-
ence shares of £lO each to that amount ; and the
proceedings then terminated.