The Sun.
London, England, 1866-02-14 00:00:00

ROYSTON AND HI rCEIIN.

The half-yearly meeting of this companywas held
on Monday at the office, Gracechurch-street ; Mr.
J. C. Cobbold, M.P., in the chair.

On the motion of the CHAIRMAN, seconded by Sir
R. CARDEN, a dividend at the rate of 6 per cent. per
annum, less income tax, and Id. per £6 ss. stock
for expenses of management, was declared on the
Royston, Hitchin, and Shepreth Consolidated
Stock for the half-year ending Feb. 1, payable
forthwith.

SAN PAULO (BRAZILIAN).
The half-yearly meeting of this company was held
on Monday at the London Tavern; Mr. R.A. Heath
in the chair.

Mr. Hillier, the secretary, having read the notice
convening the meeting, the report, an abstract of
which has appeared, was taken as read.
The CHAIRMAN, in moving the adoption of the
report, said the works were progressing favourably,
and they expected that by Midsummer next the line
would be opened throughout for traffic. Slips had
occurred in some of the embankments, which were
being made good, and, as the contractors would
have to keep the whole of the works in good order
for one year after the opening of the line, he trusted
that, by that time, the works would be properly con-
solidated. With regard to another matter, the di-
rectors have thought it right that the shareholders
should have a copy of the whole of the correspond-
ence that had taken place between the directors of
the company and Capt. de Medeiros, the agent of
the Brazilian Government. The directors, as they
might suppose, were not very well pleased with the
result of that correspondence, as they considered
the Brazilian Government had broken faith with
them, Capt. de Medeiros having had full authority
to treat with the company. He protested on behalf
of the company against the consequences of that ac-
tion of the Government which appeared to him not
only to be highly prejudicial to the shareholders of
the San Paulo Railway, but also very injurious to
Brazilian credit in this country. HQ therefore consi-
dered the Imperial Government as responsible to
the company for any extra charge at which they
might be obliged to raise the money beyond the 7
per cent. guaranteed by the concession. He sug-
gested that the shareholders should among them-
selves contribute the requisite sum by taking their
proportion of the bonds; the directors would also
take their share of them, and they would thus gain
considerable advantage by adopting that course, and
be independent of external aid. To subscribe for
bonds to the amount of one-fifth of their present
holding would be sufficient to raise all the money
the company would require.
A SHAREHOLDER thought there must have been
some misapprehension as to the translation from the
Portuguese.

Mr. SAMUEL begged to say that the version he had
given of the proposition was the right one, and was
in strict conformity with the private instructions of
Captain de Medeiros.
Mr. FLESCHER thought they had very little to ex-
pect from the Brazilian Government. It was the
Government and not the people of Brazil that were
to blame.

The report and statement of accounts were then
unanimously adopted.
The retiring auditors, Mr. Alderman Dakin and
Mr. Galsworthy, were re elected.
Mr. GOEZ considered the suggestion of the direc-
tors for raising the requisite money a very good one.
Mr. WILsoN proposed a resolution expressing the
views of the shareholders as to the recent proCeed-
ings of the Brazilian Government ; but after some
conversation it was withdrawn, and the proceedings
concluded with a vote of thanks to the chairman.