The Sun.
London, England, 1859-09-05 00:00:00

RAILWAY INTELLIGENCE

--
The railway meetings during the week have again
been numerous, but mostly of the less important
companies. At the United Lancashire and York-
shire and East Lancashire the dividend was at the
rate of 41 per cent. The amalgamation of the
two undertakings was welcomed, as they have been
incessantly at Parliamentary warfare. Of the
£45,000 authorised to be expended on capital
account during the past six months, oniv £25,000
has been spent. In addition to the balance of
£20,000 it is intended to lay out in the current half-
year £22,000 to double the Burnley branch, £40,000
for old land claims, £15,000 for new rolling stock,
and £lO,OOO for extension of stations, making
about £107,000. The report of the North British
proposes a dividend at the rate of 3 per cent. per
annum out of the available balance of £63,506.
After a 13 years' struggle the company, have ob-
tained authority for a direct line from Hawick to
Carlisle. At a meeting of the South-Eastern a dis-
tribution was ordered at the increased rate of 4 per
cent. per annum. The permanent way and rolling
stock are stated to have been kept in efficient con-
dition at the cost of revenue. The through conti-
nental traffic has been considerably less, but the
local traffic has steadily increased. The directors
were authorised to subscribe 300,000 to the Charing-
cross Railway. After long negotiations the trains
of the Great Northern have been allowed to use
the Lime-street station at Liverpool. At the
Sittingbourne and Sheerness meeting it was stated
that the Act empowering the lease to the London,
Chatham, and Dover, at a rental of not less than
£5,000, or more than £ll,OOO a-year, has received
the Royal assent. The total cost of the line is ex-
pected to be £15,000 a-mile. The Leeds, Bradford,
and Halifax junction have declared a dividend at the
reduced rate of 31 per annum. There has been an
increase in the past half-year of £BBl in the pas-
senger receipts, and a decease in the goods of
£1,493. The coal traffic has not hitherto realised
the expectations of the directors. It is proposed
to amalgamate the Lancaster and Carlisle,
Lancaster and Preston, and Kendal and Winder-
mere railways, and to lease the whole undertaking
for 1,000 years to the London and North Western,
on terms varying with the dividend of the latter
company. At a meeting of the Bideford Extension
it was stated that the number of passengers in the
six months ending in June was 58,272, showing an
increase of nearly 13,000 on 1858. The balance in
hand of £530 is to be carried forward. The report
of the Waveney Valley announces that the Bungay
Extension will shortly be completed; it is then
proposed to revise the temporary arrangement with
the Eastern Counties. At the South Yorkshire the
proposed distribution at the rate of 21 per annum
was ordered. A similar dividend has also been
agreed to by the Birkenhead, Lancashire, and Che-
shire Junction, leaving £5,587 to be carried for-
ward. The agreement for the transfer of the line
to the Great Western and London awl North-Wes-
tern companies was confirmed. At the Dublin and
Belfast Junction it was stated that the works
and plant are in good order, and that the work-
ing expenses have not exceeded 36 per cent.
The company are to subscribe £20,000 towards the
branch from Clones to Cavan, projected by the Dun-
dalk and Enniskillen. The proposed distribution
at the rate of 4 per cent. per annum was agreed to.
The shareholders of the Dublin and Drogheda have
also sanctioned a subscription of £20,000 to the
Clones line. A dividend has been declared at the
increased rate of 4t per annum. It is proposed to
pay off the debentures as they fall due with a deben-
ture stock, At the Norfolk a distribution at the
diminished rate of £1 4s. per cent. for the half-
year was agreed to. The falling off was attributed
to the increased claims for compensation, the
amount charged by the Eastern Counties against
the associated companies being £12,947, while in
the corresponding period of 1858 it was £BB7
only. The dispute with the Eastern Counties re-
specting the accounts, which has now gone on for
four years, is still unsettled. The Epsom and
Leatherhead have declared a dividend of 4s. per
share. This railway, was opened for traffic on the
Ist of February, and is worked under a rental by
the South-Western. The Junction of the Colne
Valley and Halstead with the Stour Valley line has
been effected, and the Act obtained for the exten-
sion to Haverhill. The original portion to Halstead
is expected to be shortly open for traffic. At the
Dublin and Wicklow a dividend was declared on
the preference stock only. The traffic is stated to
show a progressive increase. An agreement with
the Dublin and Kingstown for developing the
traffic on the Bray line was confirmed. The South
Wales meeting was adjourned to receive an award
from Captain Galton. It was stated, with refer-
ence to the proposition of steam communication
at Milford Haven, that it is not intended, as far as
the company is concerned, to purchase any steamers
whatever. The shareholders of the South Devon
have agreed to a distribut on at the rate of 11 per
annum. The receipts, which in 1858, had fallen
off, have this year shown an increase. Considerable
benefit has been derived from the traffic through
the Cornwall line. At the meeting of the Newport,
Abergavenny, and Hereford preference dividends
only were declared. The net revenue has augmented
by £2,621, chiefly from minerals. It is hoped the
completion of the Aberdare branch will furnish a
profit available for division on the ordinary stock.
The Boston and Sleaford have declared a dividend
equal to 3 per cent. per annum. The remaining
portion of the line was opened in April, and the
traffic is rapidly increasing. The Mid-Kent (Brom-
ley to St. Mary Cray) have ordered a distribution
for the past half-year at the rate of 24 per annum,
carrying forward £B9. The scheme for a West-end
terminus at Charing-cross is expected to be of great
value in developing the traffic of the line. At a
meeting of the Newry, Warrenpoint, and Rostrevor
a dividend was declared upon the preference stock
only. The differences with the Newry and Armagh
have been arranged, and a junction will be effected
between the two lines at joint expense. At a meet-
ing of the Maryport and Carlisle a distribution was
ordered of 5 per cent. per annum. The traffic in the
past six months has been larger than in any pre-
vious half-year, especially in coal and iron ore. The
shareholders of the Lewes and Uckfield have agreed
to a dividend at the rate of 2 per dent. for the half-
yew:. The bill to permit the sale of the line to the
Brighton has received the Royal assent. Since the
completion of the railway property in the neigh-
bourhood is stated to be continually increasing in
value. The first section of the Oldham, Ashton,
and Guide-bridge is nearly finished, and the re-
maining portion of the works have been let. The
contract for the construction of the Exeter and Ex-
mouth, from the latter place to Topsham has been
formally executed, and the most important work,
the viaduct over the Clyst, has been commenced.
At the Hereford, Ross, and Glocester meeting a 4s.
dividend was declared. The business of the past
half-year shows an increase compared with 1858 of
more than 5 per cent. The report of the Rhynmey
states that the balance of revenue in the past half-
year was £1,560, and that the disposable sum in
hand was £1,823. The Bute Dock branch, with
the coal tipping staiths, and the necessary siding
accommodation, are nearly completed. The goods
and coal traffic show a considerable advance over
last year. At the Dundalk and Enniskillen a di-
vidend of 5,. per share was declared. There has
been an augmentation in the traffic, with a decrease
of £l,OOO in the working expenses. The Waterford
and Limerick distribution is at the rate of 1 per
cent, per annum. The profits in the last six
months were 30 per cent. more than in 1858, while
the expenditure, has been reduced. The report
of the Cornwall states that • the line was
opened early in May, and that the traffic
has been fully equal to expectations. The bal-
ance of revenue for the few weeks to the close of
1! vca' £3,,105. The construction of the Forest
orDean Central is said tobeproceeding with vigour.
The first section of the Dartmouth and 'Torbay to
Paigriton has been finished. At a meeting of the
Great Northern and Western (Ireland) it was stated
that the agreement with the
ii Midland Great West-
tern has been executed. 'The
beeiwnojks betwdeeedn
Ath-
lone and Roscommon
satisfactorily. It has been announcepdr(e e)
that
e the
ICork t
and Youghal Railway will be completed in the
course of eight or 12 months. The report of the
Belfast and County Down recommends a dividend
of 9s, per share out of the balance of £3.,036. The
extension to Donaghadee and Bangor is to be com-
menced immediately. The East Anglian report
shows a continued falling off in the traffic, For
the half year the receipts have been £24,459,
against £24,493 in the corresponding half of 1858,
and £27,131 in 1857. The A and B dividends will
be paid in full, and £3 ss. will be distributed
are on C
stock leaving a balance of only £l6. Steps in
prozre,,s for a better development of the resources
of the aistrict, but complaints arc made of the
charges of the Eastern Counties for working the
line, anet also of illiberal conduct on the part, of that
company. At a meeting of the Northern of Canada
the arrangement with the Colonial Government,
under which the holders of £250,000 preferential
bones about to he issued will take the first rank,
the £285,000 existing bonds the second rank, and
the Government claim of £475,000 the third rank,
was agreee to. The Ulverstorie and Lancaster
show an increase of £4,727 in traffic, and a divi-
dend has. been declared at the rate of 21 per annum.
At the I)Ln-idea and F ;i-th there was no dividend
for the ordi'vary shareholders, only £584 reniaining
after payment of preference claims. Duriiw the
week a distin et charge has been made against the
chairman ani i directors of the Eastern Counties line
of uncand id proceedings in connexion with the
election of a uditors, but it does not appear to have
drawn fort h. any explanation.'