The Sun.
London, England, 1866-04-03 00:00:00

BAHIA AND SAN FRANCISCO.

The report of the directors states that the traffic of
the line had shown a steady increase during the half
year ending 31st Dec. last. This was partly due to
the abundance of the crops produced in the district in
immediate connection with the line, and partly to
the improved arrangements of the managers, which
were gradually attracting to the railway the mer-
chandise traffic of more distant parts. The expendi-
ture had been kept as low as was consistent with
the well-being of theundertaking, andthe increased
traffic had resultedin a balance in favour of the com-
pany of £59,905. The traffic from July to December
amounted to £16,034; fees, interest, and exchange to
£1,144; balance from preceding account to £2,719 ;
and the guaranteed interest for the half-year to
£63,ooo—together £82,897. The expenditure in
Bahia amounted to £21,422, and in London to
£1,560, leaving a balance of £59,905. The directors
recommended that from this balance a dividend for
the half-year be declared of 12s. per share, making,
with the dividend in the preceding half-year, a total
dividend for the year of 6 per cent., and carryinr
g
e
over £5,905, part of which was required
completion of the bridges and culverts dral,n:rgote,danhyd
the inundation mentioned in thehl.acisit
part for unsettled claims, against
comp the
state-
felt bound to make a reserve. theq'-directors
ending the 31st
ture !holm' that
gantorheengtroofsstrraeificeciprtsecfeoiprttshtilen
acixfp:ectiaderi
ed to £17,178, o•
of December last amount • against
e ul 8d
i 6
t4u, r se h
amounted n
in-
crease of £5,071.
£12,104 for the sanilelhealfexopf
£22,921 for the
fl
the past
half-year, and to £24,926 for
atlfof half-yearlBG4 amounted to £5,388,,0wing a decrease
of £1,935. The difference between receipts and ex-
pthene correspondingditurn fer
and for the same half of 1864 to £11,560, showing
an improvement of £6,173 in the past half-yeai. His
Excellency Don Manuel Pinto de Sauza Dantas, the
President of the province of Bahia, being fully im-
pressed with the importance of making converging
roads, had personally visited all parts of the line,
and had given orders to commence the road from
Sitio Fovo through the Subahuma district, to com-
plete the bridges on . the Bomjardin-road, and to
transfer the market from the town of Alagoinhas to
a site adjoining the station. Those measures, if car-

tribute to the permanent
taking. It was therefore with increased confidence
that the directors now recommended the proprie-
tors to adopt certain measures which at no great
outlay would facilitate a more sure, speedy, and direct
communication with the centre of the city of Bahia,
and tend in other respects to encouragethe traffic and
improve the working of the line. Those measures
consisted in the provision of two small but powerful
steamers and three lighters for the purpose of con-
veying the passenger and merchandise traffic be-
:v.
hwe
el e.
eemdn themarket,
buildingk
e tt: e
ar in:
dai nti unAs
bi aaugni
lroldi
inti ht,
sac if
rtoyqr,wti
hnoef
to
ornoelnebrNtr
o:ie
nn
let
tdnaac
cc
te 00
of-
the
a-
tages for the English workmen at the wf-
theorpkasshsoepnsgaert
Periperi. It had been also suggested to the direz-
It.
co
nr st
atlh, aNlt.oaulsam
ma I lainni
aal tl
y.A.
el angcoolunrhaags
traffic. To carry out those works the directors pro,
posed to borrow a sum not exceeding £20,000, to
expend it gradually, as they might become satilzed
that the returns would justify the outlay and con-
duce to the permanent prosperity of the hrie. The
capital account showed that £1,796,549 had been
expended.

PORTPATRICK.

The half-yearly meeting of this company w
held at Stranraer on Wednesday ; Col. 31'llonall
in the chair.
The CHAIRMAN, in moving the adoption of the
report (an abstract of which has appeared in Tim
Sun), expressed the gratification of the directors in
being enabled to give a dividend to the shareholders
for the past half-year. It was satisfactory ttiat the
arrangement with the Caledonianßailway Company
worked so well. The agreement was for 21 years,
and in accordance therewith the line was now boinq
worked at 38 to be gradur.lly reduced to. 33 r.er
of the tnaffic ricOpts, which he considered was
a very satisfactory ad:.ngenzent and one whirl was
already producing good results. The traffic by the
steamers now running between Stranraer and Bel-
fast was rather small, owing to advi.trse circum-
stances. The entire suppression of the cattle trade
between Ireland and Scotland on account of the
rinderpest formed one of these adverse circum-
stauces—but he hoped the traffic of the steamers
would soon increase, and that their next half-yearly
report would show a more favourable statement%
The directors had not yet been able to make a satis-
factory arrangement with Government for the car-
riage of the mails to Ireland. The negotiation
still pending would, he hoped, yet induce the Go-
vernment to fulfil their engagements to the com-
pany. _

11r. G. GUTHRIE seconded the motion, Which
was unanimously carried.
A dividend at the rate of per cent. per annum,
free of income tax, was declared payable on the 6th.
of April, and the proceedings terminated.