The Sun.
London, England, 1866-09-12 00:00:00

RAILWAY IN TELLIGENCE.

LLYNVI AN]) OGMORE,

The half-yearly general meeting of this company
was held yesterday at the Great Western Hotel,
Paddington ; Mr. Macgregor in the chair.
The CHAIRMAN read the report, which stated that
the Amalgamation Act uniting the Llynvi Valley
and Ogmore Valley Railway Companies into one
company received the Royal assent on the 28th of
June last, and the affairs of the two companies or
sections were now being managed by one board.
The gross receipts on the Llynvi section for the
half-year ending the 30th of June amounted to
£12,640 against £11,192 for the corresponding half
of last year, showing an increase of £1,448. The
working expenses and interest charges amounted to
£6,972 against £6,233, showing an increase of
£639. The balance available for dividend was
£5,668, and this sum, after paying interest of 5 per
cent. on the preference shares, would afford a divi-
dend at the same rate on the ordinary stock. This
stock would henceforth be entitled to a preference
dividend of 5 per cent, per annum in priority to the
ordinary stock of the Ogmore capital until the ag-
gregate revenue should be sufficient for two conse-
cutive years to pay 5 per cent. upon all the paid-up
ordinary capital of the amalgamated company for
the time being issued in respect of lines open for
traffic. The available balance of the Ogmore line
was £1,406, which would afford a dividend at the
rate of 2 per cent. to the shareholders of that com-
pany. The engineer's report stated that the third
rail was now available for traffic from Porthcawl to
Tywith, as well as along the Ogmore line. The
important works had so far advanced that the old
tidal harbour, which formerly could only admit
small vessels, had now been converted into a basin
capable of receiving large steamers. When the
inner basin was completed they would have special
means for the shipping of coal. Acts were passed
last session authorising extension lines from the
South-Wales Mineral and other railways in the dis-
trict, which would form junctions with the com-
pany's lines, afford great accommodation to the
public, and be remunerative to the company. He
concluded by moving the adoption of the report,
which was seconded and carried. Dividends at the
rate of 5 per cent. per annum were declared on the
preference shares of 1855, 1862, and 186 k, and on
the ordinary stock at the same rate, payable on the
25th inst.

The CHAIRMAN said he had to propose that the
reserve fund be divided, and for that purpose that
a bonus of 2 per cent. be paid on the ordinary stock
and third preference stock on the 25th inst.
This was carried unanimously.
The sum of £5OO was unanimously voted to the
chairman out of the reserve fund, in acknowledgment
of the valuable services he had rendered to the com-
pany on various occasions during several years past.
Mr. G. WooLeorr, in moving that the remunera-
tion of the directors for the current and future years
be £9OO per annum, said that for the half-year end-
ing the 30th June, 1853, the traffic receipts amounted
to £4,125, and for'the half-year ending the 30th of
June last to £12,640; the capital expended to the
30th Juue, 1853, amounted to £113,555, and to the
30th June last to £351,688, showing that the traffic
receipts had increased pari passe with the outlay of
capital, and that the undertaking had steadily pro-
gressed.
The motion was seconded and carried unani-
mously.
The meeting was then made special, and the di-
rectors were authorised to create and issue new share
capital to the amount of £2530000 under the powers
of the Llynvi Valley Railway Act, 1866, and the
Ogmore Valley Railway Act, 1866 ; and when the
whole amount was subscribed and one-half thyreof
paid up to borrow £51,000 on mortgage.
Mr. BROGDEN, a director, explained that the ob-
ject of raising the proposed capital was to develope
a most valuable coal district of 60,000 shares. It
was the opinion of eminent men that it was the best
maiden coalfield in England. There were also large
beds of iron and limestone i❑ the district. lle be-
lieved it would prove a very successful undertaking
and be second to none.

The proceedings concluded with a vote of thanks
to the chairman.

The Roman Question.

The following letter has been addressed to the
Daily Telegraph by Archbishop Manning:—
Sir,—ln your number of Friday last I read an
article on certain words of mine, spoken in the
cathedral near Hereford, and I beg to acknowledge
the courteous and fair way in which you comment
on them; but I am afraid I must forfeit the ap-
proval you are so good as to express. The report
from which I assume that you take my words
breaks off before the following passage, which is
given in full by the Hereford Times. After speak-
ing of the personal independence and supreme
guidance of the Sovereign Pontiff, I went on as
follows:

While men ware seeking now to secure those two
divine prerogativeq of his office —statesmen, legislators, and
diplomatists, who wore seeking at this hour to find some
compromise whereby this might be secured—the foolish-
ness of God, these eighteen hundred years, had found for
Himself His own mode of administering His Church on
earth. Ile had committed to the vicar of His Son the
possession of that seat which was the head of the whole
world ; and that seat ho has held as his own, and as the
sphere of his sovereignty, from that hour to this. The
world says he will hold it no longer. Let them confide in
the past, and look with assured confidence to the future.
Let them not bo alarmed at the bold words of men, nor
at the threatening aspect of events. Forty-five pontiffs
had either been driven out of Rome, or had never set their
foot in it ; nine times that city had been held by usurpers ;
seven times it had been sacked and all but destroyed; in
every century since there was a patrimony of St. Peter,
those provinces had been occupied by usurpation and by
violence; so that what they saw at this moment was nothing
to that which had been, and which would bo to the end.

I quote the report word by word, without cor-
rection, because it is honest and true in substance,
though it does not adequately preserve the argu-
ment, which was as follows :

1. That the supreme spiritual office of the head
of the Church requires for its free and full exercise
the perfect independence of his person.
2. That the independence of his person cannot
be secured without exemption from all temporal
superiors.
3. That this exception requires a sphere of its
own.

4. That the Providence of God has actually so
exempted the head of His Church from all temporal
powers, and has actually given to him, as the sphere
of his independence, the city of Rome and its pro-
vinces, which belong to him brthe sa;redness of
every right and title.

From this, Sir, you will perceive that all transfer
of Rome or of the Roman State to any other tem-
poral Power is in express terms excluded. But, as
I then went' on to say, when the conflict is between an
unarmed and defenceless pastor and a great military
force, I have no confidence but in God and justice.
As I am sure you do not desire that my
words
should be misunderstood, I would request you to
insert this correction in your next number.--I am,
Sir, your obedient servant,
NENRy E. MANNING.
8, York-place, W., Sept. 8, 1866.

ATLANTIC ::-Thesuccossful lay-
THE ATLANTIC J.ELEGift:
recovery and completion of
pig of the new cabl©
subjectsand
es thosegt
st
sides of the Atlantic,
efforts form a just reward of
whilet theof happy congratulationsresults of tohne i both
tnh-
that of last year are
defatigable and persevering
a time devoted their best ener-
his great and ar u g.
\und irtlkin At every
proceedings, pessimists have not been wanting
th,, or sd r
ho
stage of
• ode or destroy the
difficultiest hav
which would imp
advantages of the telegraph. Thus, when the
cablesic'iml•ere at last safely deposited in the calm, cool depths
cables
s
of the Atlantic suggestions of speedy decay from corrosion
and the intensity of the currents used were freely put
forward, and gave rise to • doubts, which, happily,
appear to be entirely unfounded. So far from the 186.5
cable having suffered deterioration in respect of " conduc-
tivity" by its year's submersion, Mr. Latimer Clark on
Sunday telegraphed from Valentia that the tests had been
completed, and the cable of 1865 had been found to be even
better than that of the present year. Tho land lines of
telegraph beyond Heart's Content have been found to bo in
a very imperfect condition, and it has been proposed, not
only to renew the existing land linos, but to establish an
alternate route of communication with the United States,
and to lay a new cable from Placentia Bay to Cape Breton,
or some other point on the coast. The Great Eastern
having triumphantly performed the task for which she
was employed, left Heatt's Content at 5 o'clock on Sundry
morning, and may bo oxpectato arrive at Liverpool about
the 19th inst.—Tiines.