The Sun.
London, England, 1866-09-13 00:00:00

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• of last year, showing an increase of £1,448. The
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£12,640 against R. 11,192 for the coinrerseesapnoln:duinit: litgedhtahtiolaf

working expenses and interest charges amounted to
£4,972 against £6,233, showing an increase of
£639.

PRICE.... 4d.
STAMPED sd.

The balance available for dividend was

RAILWAY INTELLIGENCE.

£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 6 per cent. per annum in priority to the
ordinary stock of the Og;knore 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 Oginore 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 wish 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 1861,. and on
the ordinary stock at the same rate, payable on the
25th inst.

-a>

CALEDONIAN.

The report of the directors states that the balance
available for dividends was £251,625. After pay-
ment of the dividends on the preference shares and
stock (£71,506) there remained £180,120, out of
which the directors recommended a dividend on the
crdinary stock at the rate of if per cent. per an-
num, and on the Scottish Central Stock at the rate
of 741- per cent. per annum, leaving a surplus of
£4,045. The revenue for the half-year ending July
31 showed that £689,323 had been received, and
£270,925 expended, leaving a balance of £418,398.
The expenditure on capital account during the half-
rear amounted to £426,306. The amalgamation of the
Scottish North-Eastern had been authorised with the
Caledonian. Branches for the fuller development of
the products of Lanarkshire and Mid-Lothian coal and
iron fields had been granted. Authority had been
given for the removal of the Edinburgh passenger
station to a more advantageous site. The position
occupied by the Caledonian Company justified a hope
of friendly arrangements being come to with neigh-
bouring companies for the avoidance of Parliamen-

tarp contests, and the cultivation on terms recipro-
cally advantageous of the traffic of different but not
necessarily hostile undertakings. No efforts would
be wanting on the part of the Board to attain so
desirable a result.

The CHAIRMAN said be 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
chairmanout 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. WOOLCOTT, 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,lBs3, the traffic receipts amounted
to £4,125, and for the half-year ending the 30th of
June last to £12,610 ; the capital expended to the
30th June, 1853, amounted to £113,555, and to the
30th June last to £351,688, showing that the traffic
receipts had increased pari passu with the outlay of
capital, and that the undertaking had steadily pro-

greased.
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 £253,000 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 thereof
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
lai e
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it
cwould valuable
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ufiledl d i
pcoal e
England.
aglva edistrictnrdy. o
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successfulh6eOr e, OwOOeur shares.undertaking
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irng
large
was the opinion of eminent men that it was the best
beds of iron and limestone in the district. He be-
and be second to none.
The proceedings concluded with a vote of thanks
to the chairman.