The Sun.
London, England, 1866-04-23 00:00:00

DEMERARA.

The half-yearly meeting of this company was
held on Friday at the London Tavern ; Mr. J. A.
Tinne in the chair.

_
The report, an abstract of which has appeared in
The Sun, was taken as read.

The CHAIRMAN said it was very satisfactory to
the directors to meet the shareholders with an in-
crease in the dividend. It showed the favourable
working of the concern, and the receipts from the
Ist of January to the 23d of March showed an in-
crease of $3,004 as compared with same period' of
1865. Considering that they had made a reduction
of 30 per cent. in their fares about two years ago,
that increase showed that their affairs were in a good
state. The line and rolling stock were in excellent
condition, and the demands of increased business
had rendered it necessary to provide additional sta-
tion accommodation,
g nes They
n had d
ad
tru s and also additional rolling
k. T
ordered two additional locomotive
gc
made an increase in the number
of tnoanr
He thought they might
seeiahah
look forward to the future for a suitable return on
that outlay. lle concluded by moving the adop-
tion of the report.
Mr. CHAMBERS, deputy-chairman, seconded the
motion, and stated that he thought the improvement
in the receipts on the railway fully justified the di-
rectors in the completion of the railway to Mahaica.
lle bad recently received a letter from his partner
in Demerara stating that the colony had vastly im-
proved, that the Chinamen and Coolies were work-
ing satisfactorily, while the blacks, from their idle-
ness and depravity, were dying out.. The railway
was going on well, and there could not be a better
man than Mr. Martin for its manager. The local
directors were doing everything they could to benefit
the concern. The estates in the district through
which the line passed had improved more than those
f anywhere else, owing to the advantages afforded by
the railway.
The report was then unanimously adopted, and a
dividend of 4 per cent. for the past half-year, 'being
at the rate of 3 per cent. per annum on the ordinary
stock, was declared, payable on the 24th inst.
M. BRAND said he was very well satisfied with
what had been done by the directors.
The retiring directors and auditor were re-elected.
The proceedings concluded with the thanks of the

Mr. GREIG seconded the motion.
Mr. S. HER/OATH remarked that the surplus lands
when sold would probably form a sufficient item to
meet the requirements of the company, and thus
leave the rent free for the payment of dividend. He
considered that the charges against revenue were
very heavy, and thought they might be reduced.
The expenses for London and Belgium amounted to
£3,111 a year.
Mr. GoEz said it would be a great advantage to
know whether any of those expenses were tempo-
rary, so as to guide them in calculating future re-
sults. It was right to keep a reserve in hand to pay
the interest on the bonds when due.
The CHAIRMAN explained that the Board had
offered to sell the whole of the surplus lands at a fair
price to the leasing company, but they had declined
to purchase them. The plans of a vast number of
small pieces of land belonging to the company had
been prepared with a view to sell them. The
managing director believed they would realize a
much larger amount than they had asked from the
lessees for them, but the company would not get so
much as they had paid for those lands. The ex-
penses could not be reduced for many years to come,
and would average £3,000 a year.
The report was unanimously adopted ; a dividend
of 4s. 9d. per share was approved, payable on the
15th of May ; Mr. T. D. Edwardes was elected a
director of the company ; and-the proceedings con-
cluded with a vote of thanks to the chairman and
directors.

LEIMERG-CZERNOWITZ.
It appears that this railway, which is intended to
form part of a main linefrom the Baltic to the Black
Sea, either via Galatz or Odessa, will in the course
of September or October next be open for traffic.
It is about 186 English miles in length, and was
agreed to be completed by Mr. Brassey in January,
1867.