The Sun.
London, England, 1866-08-29 00:00:00

LONDON, TILBURY, AND SOUT [TEND.

The half-yearly meeting of this company was held
yesterday at the offices, Fenchurch-street, Mr. C. J.
hey in the chair.

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

The CHAIRMAN, iu moving the adoption of the
report, said if it were not for the restrictions with
regard to the cattle trade there would have been an
increase in the receipts instead of a small decrease as
compared with the corresponding period of last year.
During the spring and winter months they had only
the ordinary traffic. During the summer months
they had 'excursion traffic in addition to the ordinary
traffic ; but the excursion traffic was not sought for
so as to get their full share of it. The increase in the
ordinary traffic was greater in proportion than the
increase in the pleasure traffic. If it were not for the
Government interference with the cattle traffic the
company's receipts at Thames Haven would have
been much larger. The works at the latter place for
providing increased accommodation for cattle traffic
would soon be completed, when hehoped by that time
the restrictions would be abated or removed! The
Dagenham Dock works had been stopped owing to
some differences with the engineer and contractor ;
but he was assured there was no want of funds.
Mr. MoxoN seconded the motion for the adoption
of the report.

In reply tc a question by Mr. T. Adams it was
state) that the lessees were jointly and severally
bound to pay the rent for the line, and that there
was not the slightest doubt that the 6 per cent. gua-
ranteed by those gentlemen would be regularly paid
until the expiration of the lease.

The report was adopted, and the proceedings ter,
minated.

STAINES, WOKING, AND WOKINGTIAM.

The half-yearly meeting of this company was held
yesterday at the offices, Broad Sanctuary, West-
minster ; Mr. J. Garrard in the chair.
The report, an abstract of which has appeared in
The Sun, was taken as read.

The CHAIRMAN, in moving the adoption of the
report, said it had been his duty from time to time
to congratulate them on some increase in the pro-
gress of the undertaking, but the increase had re-
cently become greater than formerly. It had been
said by some that the South-Western had trot done
their duty to the company in developing the traffic.
He did not say that they could not have done Inge
for them, as it was probable that every railway com-
pany was obliged to do the best they could for them-
selves. They could not, as business men, expect
the South-Western Company to make too much of
a sacrifice for another company's benefit. Other
shareholders supposed the directors made a bad bar-
gain in leasing the line to the South-Western Com-
pany for 50 per cent. of the gross receipts. When
it was considered that they had to work the line,
to provide rolling stock, and to maintain the road
and works in good order out of the remainder, he
thought they had got a fair return under the cir-
cumstances. It had also been asserted that the
leasing company was bringing the company into
debt for improvements on the line, which was not
the case. Their agreement with the South-West-
ernparnodveamcceonmin
was that after the termination of the 40 years'
lease o
dat
the company would take any necessary im-
ts madeioon of nthteholitnreafffioor
bthye
tdheevelleoapsmeseantt
a valuation. At Egham the lessees had built a goods
station, to and from which
nine-tenths of the
traffic passed over the South-Wes •
South-Western line. When
asked to pay for it the directors of the Wokinaham
Company said no, the matter would be taken into
account at the end of the lease. The outlay for those
improvements would be of advantage to the lessees
during the 40 years, and the proprietors of the
leased line would also have some advantage during
the lease, of which 36 years were unexpired. As
the traffic on their line became more fully developed,
the better it would be for both companies. In reply
to a question, he said that the company had now
no more debts to pay, but had a surplus of £l,OOO,
which he hoped would be increased.
Mr. WILKIN seconded the motion for the adoption
of the report.
Mr. JONES asked whether the directors had taken
any steps to ascertain whether the South Western
Company were disposed to purchase the line.
The CHAIRMAN said he had, but it was not their
business to go to the South Western unless they had
a proposition to make, but for the latter to come
to them if they wanted to purchase the line. There