The Sun.
London, England, 1861-08-01 00:00:00

LLANELLY.

The half-yearly Meeting of this company was
held yesterday at the London Coffee-house ; Mr. J.
Biddulph in the chair.
The report stated that the earnings of the com-
pany on revenue account during the half-year
ending the 30th of June amounted to £14,403,
being an increase of £1,750 over the corresponding
half of 1860 ; and the working expenses amounted
to £8,527, being an increase of £779 over those of
the corresponding period, leaving a balance of
£5,876, to which was added £304, the balance from
the previous account, making together £6,189.
From this we deducted £4,585 for interest on de-
bentures and loans, dividends on preference shares,
&c., leaving a balance of £1,595, out of which the
directors laid aside £5OO for renewal of locomo-
tives, and they recommended a dividend at the
rate of 10s. per ordinary share to be paid, leaving
a balance of £llO. The working expenses, it ap-
peared, were increased by an outlay for new rails.
The arrangements for the purchase of shares in the
Llangelly Waggon Company had been proceeded
with, and a further sum of £6,051 had been ex-
pended on capital account during the half-year, in
taking up those shares and in the purchase of 30
additional waggons. The company's bills for new
lines to Carmarthen and Swansea only awaited the
Royal assent. The capital account showed that
£351,264 had been expended, leaving a balance
against the company of £8,678,
The CHAIRMAN, in moving the adoption of the
report, adverted to the importance of the proposed
new line to Swansea and Carmarthen. They would
convert their old local line into part of a narrow
gauge trunk railway from South Wales to the
north. It was only by means of judicious exten-
sions they could hope to get a dividend on the ori•
ginal shares. They had already improved their pc
sition by extension towards the north, and it was
of vital importance that the shareholders should as-
sist the directors in raising capital for the new lines.
In reply to questions, it was stated that the cost
of the mew lines would be about £250,000, and
that a further sum of £3,450 would put ,the rail-
way company in possession of the whole of the
Llanelly Company's waggons.
The report was adopted, a dividend of 10s. per
share was decle red and the proceedings terminated.

OLDHAM, ASHTON, AND GUIDE-BRIDGE
JUNCTION.

The formal opening of this line inok place yester-
day, and the conveyance of traffic over it will com-
mence in the course of a few days. The line forms
a second route between Manchester and Oldham,
besides connecting the latter place with Ashton-
under-Lyne and other populous localities. The
length of the line is 9,137 yards. It starts from the
Manchester, Sheffield, and Lincolnshire Railway at
Guidebridge Station, where it also joins the London
and North Western Railway. It passes thence
through Charlestown, where there is a station ;
across the river Medlock at Park-bridge, where
there, is another station; and terminates by a junc-
tion with the London and North Western Railway
at the Mumps Station in Oldham, The chief sta-
tion, however, is in a much more central part of the
town of Oldham. The most important work on the
line is a stone viaduct at Park-bridge, about 200
yards long and 95 feet high, consisting of 11 arches,
nine of them being 50 feet span and the others 30
feet span. The steepest gradient on the line is 1
in 90. The cost of the line would be about £140,000,
of which the Manchester and Sheffield and the
North Western subscribe £50,000 each.

BELFAST AND NORTHERN COUNTIES.
The report of the directors states that the nego-
tiations for the purchase of the Ballymena and
Portrush Junction Railway, including the bridge
and
,junction with the Londonderry line at Cole-
raine, had been brought to a satisfactory conclusion.
The company obtained possession of the line on the
Ist of January last, since which it had been worked
as part of the railway. The purchase money con-
sisted of £160,000 in preference shares, bearing in-
terest at 4 per cent, the Belfast company assuming
the Portrush company's bonded debt of £60,000,
making together a total payment of £220,000.
But afurther liability might arise for a sum of
£20,000 (in shares) contingent on the receipts
reaching a eertain amount within the next four
years. The directors had concluded an agreement
with Mr. M'Cormick for a transfer of his lease of
the Londonderry and Coleraine Railway for four
years, from the 10th of April, 1861, at a yearly
rental of £lO,OOO, and had purchased all the roll-
ing stock that was in use on the line. This com-
pany had now the sole control of the railway
between Belfast and Londonderry, and the direc-
tors hoped that the facilities they now possessed
for goods and passengers would tend to promote a
further development of the trade between the im-
portant towns on the line. The traffic receipts end-
ing June 30 were for eight months on the original
line, for six months on the Ballymena and Portrush
line, and from April 10 to June 30 on the London-
derry and Coleraine line, amounting together to
£56,160. The balance of revenue, after providing
for working expenses, interest on loans, dividend
on the 4 per cent. preference shares, and rent of
Londonderry and Coleraine Railway, was £22,361,
out of which the directors recommended a dividend
of 30s. per share, being at the rate of 41,- per cent.
per annum for eight months, leaving £4,061 to be
carried to the credit of the reserved fund, which
would then amount to £0,049. The capital account
showed that £1,037,934 had been expended, leav-
ing a balance against the company of £68,160.

RAILWAY BILLS.
The committee of the Lords have passed the bills
of the West Hartlepool Railway for regulating their
capital and traffic.
Joint resolutions of both Houses of Parliament
have been passed discontinuing the present system
of engrossing bills, and providing that in future
every bill shall be printed immediately after it shall
have been passed in the house in which it originated.
When a bill has passed both houses a print on vellum
is to be furnished to the House of Lords before re-
ceiving the Royal assenL. The Master of the Rolls
is also to receive a copy, and as it is considered ex-
pedient, with a view to economy, convenience, and
it is deemed advisable that the
despatch, and diminution of the chances of error,
that one printer should print the public general
bills for both houses, and as the Queen's Printer
is, by virtue of his t,ffice, bound to print the Acts
of Parliament,Queen s Printer should be employed for that pur-
- pose by both houses in future.