The Sun.
London, England, 1866-11-03 00:00:00

Great Indian Peninsular Railway.

Tho half-yearly general meeting of the shareholders of
this company was held yesterday at noon, at the London
Tavern—Mr. W. J. Hamilton presiding.
The report, which has been circulated amongst the pro-
prietors, was taken as read.
The CHAIRMAN, in moving its adoption, congratulated
the proprietors in being the first of the Indian guaranteed
companies who had obtained the position of baying a
surplus profit after providing out of net receipts for
the guaranteed interest of the same half-year upon the
whole of the paid-up capital. That event had arisen fronl
the working of only 700 miles of opened line, which, with
the necessary equipment,- was estimated to have cos{
£9,066,558, the balance of capital raised, namely £5,376,8°
being required for the 572} miles still under construction.
The gross receipts of the half-year on revenue account
amounted to £812,758, or £1,160 against £557,121, or £943
per mile on the half-year ended June 30, 1865. The
half-year's guaranteed interest amounted to £346,301,
which, deducted from the net receipts, left a surplus profit
of £69,555, being equal to 245. per cent. per annumuP°l/
the paid-up share capital. Since the close of the
half year the following additional sections of the railway
had been opened for traffic. On the 16th of July from Bad;
naire to Poolgaum, 401. miles on the Nagpoor branch ; and
on the 3d of September from' Boorhampoor to Khundron,
421 miles in the main line to Jubbulpoor. As additional
capital was requisite to meet the liabilities of the comPanL
in respect of the unfinished portion of the railway, t"-
sanction of the Secretary of State for India had been given
to raising one million by 5 per cent. debentwes. 111`6
amount would increase the debenture capital to fourmil-
lions, the subscribed share capital being 13 millions, °f
which £11,656,933 had been paid up to the 30th Juno last'
Lila) other companies they had suffered from the late corn"
mercial crisis, on account of the depreciation in the Price
of cotton.

Mr. J. G. FRITH seconded the motion.
After a brief discussion, the report was adopted, and re"
solutions were agreed to declaring the following dividend°
out of the surplus profit, at the rate of ss. upon ever/
£lOO capital stock ; 9d. per share £l6 paid ; 3d per sharen
£6 paid ; ld. per share £2 paid, all free of income tax•
was stated that this would absorb £30,000, the balance
being carried forward to next half-year's account. ' d
It was stated that Captain Sherard Osborn, RS., ;.A
retired from the position of the company's agent in in"'
and the directors had appointed Major-General gall/
Rivers, of the Royal Engineers, to be the agent of the cel:
pany there. He had been twenty years consulting e'

gineer to the Government of Bombay.
closed
the vote of thanks to the chairman and directors do°
the proceedings.

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