The Sun.
London, England, 1866-09-05 00:00:00

Railway and other Companies.

NORTHERN OF BUENOS AYRES.
The report of the directors states that, as the
whole line had been completed throughout the past
financial year, the directors had deemed it right to
debit the revenue account with all that was fairly
chargeable to it, in order that every shareholder
might understand the actual result of the year's
working. The directors had secured the services
. of Mr. J. B. Thomson, late of the Edinburgh and
Glasgow Railway, who had reached Buenos Ayres
in March last. The gross receipts were equal to
those of the corresponding months of last year,
showing that there was a fairly-earned balance in
favour of the company in Buenos Ayres. The direc-
tors deemed this a satisfactory result, as the damage
done by the storm of March last was being repaired ;
six miles of sleepers were being re-laid, and the re-
ceipts were at their lowest, being the winter months.
The traffic for the year ending March amounted to
$3,247,667, or £25,981 ; and for the year ending
March last to $3,819,951, or £30,559, show-
ing an increase of £4,578. The receipts for the
three months ending June amounted to $835,190,
or £6,681, against $676,874, or £5,415 in the corre-
sponding period of 1865, showing an increase of
£1,266. Tenders were invited for debentures at 12+
per cent., and applications had been received and
deposits paid upon about £3,000, which, together
with £72 received for interest, was placed to a sepa-
rate 2.ccount. The directors hoped that, with the
improved state and prospects of the money-market,
the required subscriptions for debentures might be
shortly obtained on more favourable terms. They
relied upon the forbearance of the creditors until
after the meeting, when the whole matter would be
submitted to the shareholders. It could not, how-
ever, be expected that this forbearance would be
further continued. The directors had not yet re-
ceived the expected remittance from the Buenos
Ayres Government in regard to the guarantee. The
balance-sheet, to the 31st of March in Buenos
Ayres and to the 30th of June in England, showed
that £282,567 bad been expended on capital account.
The revenue account showed that £30,427 had been
received and £40,346 expended, including £8,164
expended in London, leaving a deficiency of £9,919.
The liabilities of the company amounted to £57,837,
and the assets to £19,087, the directors being em-
powered to issue debentures for the sum necessary
to discharge the deficiency of this account.

MELLIS AND EYE.
The third ordinary meeting of this company was
held on Monday at Eye—Mr. Chenery in the chair.
The accounts showed that the receipts on capital
account to Aug. 13, 1866, had been £7,066, while
the expenditure had been £6,703, leaving a balance
of £363.

The Engineer (Mr. W. Bruff) reported that from
the advanced state of the works there was every
probability that the line would be ready for the Go-
vernment inspector early in October.
The report was adopted, and the directors were
authorised to raise £5,000 on loan.

The proceedings closed with a vote of thanks to
the chairman and directors.

ATLANTIC AND GREAT WESTERN.
The traffic receipts on this company's lines, 507
miles in length, amounted for the week ending Aug.
16 to $131,088, against $145,000 on 490 miles, for
the corresponding week last year, showing a decrease
of $13,912. The total receipts from Ist Jan. to the
above date amounted to $3,315,471, including
$821,173 for passengers and $2,378,464 for freight,
against $2,922,543 for the corresponding period of
1865, showing an increase of $392,928.

LONDON GENERAL OMNIBUS (LIMITED).
The half-yearly meeting of this company was held
yesterday at the offices, Finsbury-square—Mr. Law
in the chair. '

The report was taken as read.

The CHAIIIM4N said it would have been most gra-
tifying to him if they were in a position to declare
the same dividend they had on the last three occa-
sions. It was so far satisfactory that the decrease
in the dividend did not arise from a diminution of
business, as their receipts had been £5,000 more
than for the corresponding half of last year, and
they had carried 659,000 more passengers. They
had been obliged to expend £20,000 more in food
for the horses than in the corresponding half of
1865. They could not control the prices during the
past half-year, but the charges had since become less.
'f he additional railway competition had not di-
minished their receipts on the whole ; he believed
there would always be a large omnibus business in
London, and that they would not suffer by railway
competition, either now or at any future time. They
had got a boon from the late Chancellor of the Ex-
chequer by the reduction of the mileage duty. If
they had not had that boon they could not have
maintained their position as having a fair average
prosperity. The balance-sheet showed debts amount-
ing to £51,800, the assets being £120,454, leaving a
balance of £68,388 after all debts were paid. They
had had to pay in compensation 1,000 guineas for an
accident to a passenger 22 stone in weight, whose
foot slipped, and who caught hold of a rail, which
gave way, and partly contributed to the accident.
When it was considered that they carried so many
millions of passengers they had very few accidents.
There was not much sympathy among juries for
joint-stock companies, and therefore they had to meet
the case as well as they could deal with it. Ile con-
cludedthat the report and statement of
a c co
un
tbsyb
ere
moving
ceived and adopted, and that a dividend
of 2s. per share be declared out of the profits of the
undertaking for the past half-year. In reply to ques-
tions he stated that the removal of the turnpikes had
reduced their charges by £15,000 a-year, and when
the reduction in the mileage duty to Government
came into operation itwould reduce the large amount
formerly paid under that head by £39,000 a-year.
The loss from the high price of provender was equi-