The Sun.
London, England, 1866-03-27 00:00:00

TENBURY AND BEWDLEY.

The directors state in their report that a dividend
for the past half-year, at the rate of £3 per cent.
per annum, was now due from the Great Western
Company. A bill has been brought before Parlia-
ment to make a railway from Worcester to Ten-
bury, which projected line, for a distance of three
miles—viz., between Newnham and Tenbury, runs
parallel with the Tenbury and Bewdley line between
those points. The capital account showed that
£156,301 had been expended, leaving a balance due
to bankers of £1,960.

ROYAL SARDINIAN.
A general meeting cf this company was held on
Saturday at the London Tavern—Mr. Grenfell,
MX., in the chair.
The CHAIRMAN stated that steps had been taken
to obtain an amendment of the original concession
from the Italian Government. On application to
the Finance Minister, a commission was issued to
see how the concession could be amended. The
issue of that inquiry was that the company got rid
of making the difficult line until the land paid them
a large sum. In proportion as the work was done
they would receive the caution money deposited
with the Government, amounting to £70,000. They
were authorised to issue 50,000 preference bonds of
£lO each, bearing interest at the rate of 6 per
cent. The committee of the Italian Parliament was
favourable to the scheme, and he hoped in a short
time to hear that Parliament had sanctioned the
measure. He concluded by moving resolutions
approving the modification of the convention, and
authorising the directors to make arrangements to
raise the capital.
Mr. BELL, in seconding the motion, said the com-
pany, instead of having to complete 124 miles of
line, would only have to make 90 miles, while they
had the land for 124 miles. The Italian Govern-
ment had acted very liberally in the matter.

In answer to questions, the CHAIRMAN said the
cost of the line would be £6,600 per mile. For the
sum of £126,000, to be paid to Smith, Knight, and
Co., the former contractors for the line, the com-
pany would receive all the plant now in the island,
consisting of engines, stock, and some extensive
earthwork. The interest on the bonds would be
paid out of sums to be received from the Govern-
ment. The resolutions approving the modified con-
vention were agreed to, and a vote of thanks to the
chairman closed the proceedings.

GREAT LUXEMBOURG.

The report of the directors states that the gross
receipts for the half-year ending the 31st of Decem-
ber last amounted to £155,282, and the net earn-
ings to £80,202 ; for the corresponding half of 1864
the gross receipts amounted to £125,991, and the
net earnings to £69,060 ; and for the corresponding
half of 1863 the gross receipts amounted to
£116,564, and the net earnings to £63,341. The
net earnings. for the ,present half-year amounted to
£80,202, exceeding those of the corresponding half
of 1864 by £11,142, and of 1863 by £16,860. The
gross receipts for the first 11 weeks of the current
half-year amounted to £58,570, and for the cor-
responding period of 1865 to £45,947, showing an
increase of 12,623. From the circumstances con-
nected with the commerce and industry of Belgium
and the neighbouring countries, the directors were
quite assured that the traffic would continue to
make extensive progress. During the last few
years the industry, especially that connected with
the iron manufactory of Belgium and the countries
adjoining, had shown a much greater development
than formerly. In the Grand Duchy of Luxem-
bourg, and in France, in the department of the
Moselle, new manufacturing establishments were
being constantly created. Those in course of
erection 'last year were scarcely finished when
various new ones were projected. All these esta-
blishments would be supplied with coke and other
cbjects of consumption from Charleroi, Liege, &c.,
and would thus contribute materially to the pros-
perity of the Great Luxembourg Railway. On the
other hand, the iron ore of the Grand Duchy
and of the province of Luxembourg and the neigh-
bourhood of Longwy entered more largely every
year into the consumption of the Belgian iron fur-
naces. The quantity of iron ore conveyed in 1865
was 359,483 tons, being 80,614 tons in excess of the
quantity transported in 1864. Besides the increase
in these great elements of traffic there had been an
addition to the transit trade. The proportion of the
working expenses to the gross receipts of the past
half-year was 481 per cent. The train mileage had
exceeded that of the corresponding half of 1864 by
153,905 miles. The average cost per mile per train
has been h d. The permanent way
and rolling
stock had been maintained in good working order.
Several of the stations, especially those of Arlon and
Jemelle, were in course of being enlarged. Between
the former of those stations and the point of junction
with the Longwy branch (three miles) and between
Jarcelle and the point of junction of the Ourthe Rail-
wayi. (tour miles), the second line of railway wasbeing
a
d"a. The works on the Ourthe line were now
roaehi
rapidly ng completion, and in a few weeks
the entire
otounldarbme
trheea read for e
Nfvosr
formerly
neirnlgy.
expErveesrysed-
thing tended to t:
by the directors as to the value of this line. By the
original Act of Concession
date
vebro_fatrhe Great Luxembourg.
Y, 1846, the company
Railway, bearing
one to the
was bound to construct two
branches,o f Bastogne.
the
had ~urthe Railway
river Ourthe, the other to
nilbeen executed.
By means of this construction eitt°l:
be proceeded with. completed
the former of those branches
soil The other must
present. time. The length
-within one year from the
of it was 17 miles, and the estimated cost £120,000.
It would contribute traffic to the main line, and the
Belgian Government accorded tiler annumguarantee of
interest amounting . The
to 0,800
time had arrived for laying down on certain parts of
the railway the second line of rails. The traffic was
already so large that it was scarcely possible to add
to the number oPtrains, and yet it was certain that
within a very brief period there must be a very con-
siderable addition to that number. The opening of
the Ourthe line would render essential an immediate
increase of trains between Marloie and the frontier

of the Grand Duchy. It would be necessary to order
---

11 more engines and 1,200 waggons. The com-
pany would then possess in all 90 engines, 153 car-
rages, and 3,440 waggons. In order to provide for
all those requirements the directors propose to raise
i 750,000. The net earnings of the canal amounted

to £323. After payment of £35,608 for interest
and reimbursement of obligations there remained a
balance of £44,749, out of which the directors pro-
posed a dividend of Bs. 6d. per share, to repay £1,049
to the Government, to place £BOO to the reserve
fund, and to carry forward £4OO.

GRAND TRUNK OP CANADA.
The traffic receipts on this company's line for
the week ending the 3d inst. amounted for local
passengers to £5,123 ; for foreign passengers to
£1,762 ; for mails, &c., to £976 ; for local freight
and live stock, to £15,143 ; for foreign freight and
live stock to £2,B92—total, £25,896, against
£25,107 for the corresponding week of last year,
showing an increase of £789. The total receipts
from the Ist of January to the above date amounted
to £205,173, and for the same period last year to
I £193,480, showing an increase of £11,693.