The Sun.
London, England, 1857-05-27 00:00:00

RAILWAY INTELLIGENCE.

MONI\IOI3-iIISHIRE.

The half-yearly meeting of this company was
held on Wednesday at Newport, Mr. T. W. B.
Blakemore, M.P., in the chair.
The report, an abstract of which has appeared in
The Sun, was taken as read.
The Cu 4 IRMA.N, in moving the adoption of the
report, congratulated tne shareholders on the satis-
factory and prosperous condition of their affairs.
The revenue was increasing in every department,
and the expenditure had been reduced. Tle total
income derived from the traffic was for t' re ha'f-
year ending Dec. 31, 1855, 53,4011., and fur the
half-year ending Dec. 31, 1856, it had increased to
57,9261. The working expenses for the former
period amounted to 35,0691., or 65A' per cent., and
for the latter to only 31,231/., or 54 per cent., and
he thought they could not reasonably expect the
line to be worked at a lower rate, and if they kept
within that percentage he thought no shareholder
would have reason to find fault. The working ex-
penses being deducted, there remained a balance of
26,6941. After paying the interest on debentures,
preference shares, outstanding debts, and all other
charges, they had a disposable balance of 10,3421.,
out of which the committee recommended a divi-
dend at the rate of 5 per cent. per annum, payable
on the 30th of June next, leaving a balance of 1, 943/.
to be carried forward to the next account. The divi-
dend for the preceding half-year was at the rate of 4
per cent., while they were now enabled to give a
dividend at the rate of 5 per cent., after adding to
the reserve fund 3,5001. This showed that their
affairs were in a prosperous] and progressive state.
With regard to the traffic during the current half-
year, it had kept at the same rate of progress, and
there was every probability that they would be
able at the next meeting to declare a dividend at
least equal to that which they were now about to
declare.

Mr. W. E. SNOW, in seconding the motion for
the adoption of the report, said he thought it a
most extraordinary thing that six months should
intervene between closing the accounts and receiv-
ing the dividend. He thought it would be desirable
to have a direct communication with Merthyr Tyd-
vil, which would give them a great accession of
traffic. They might also do something in respect
to running Sunday excursion trains for the accom-
modation of the inhabitants of Newport and other
places on the line.
Mr. C. LTNE believed that if the suggestion made
by Mr. Suow were adopted it would prove a great
boon to the working classes, and would be a m,,st
desirable advantage both in regard to their physical
and moral condition.

The CHAIRMAN, in reply, stated that the period
of the payment of the dividend was entirely iu the
bands of the shareholders; they could recommend
an earlier date for the payment of the dividend if
they thought proper. With regard to the sugges-
tion for the renewal of the Sunday traffic system,
very serious consideration bad been given to the
matter some time ago, and the result was that the
fares had been reduced, so as to allow the working
classes an opportunity of making excursions on
Sundays into the country. They soon, however,
ha-1 remonstrances from the clergy and ministers of
all denominations, as well as from large numbers
of the respectable inhabitants, in cons,Nuence of
which the practice was abandoned. The directors
would be most happy to adopt any measure that
would insure the public benefit.
Resolutions were passed adopting the report,
declaring a dividend at the rate of 5 per cent. per
annum on the ordinary shares, and authorising the
directors to borrow 67,5001, when the shares
created in 1855 were fully subscribed for and one
half the amount paid up.

A vote of thanks to the chairman concluded the
proceedings.

MANCHESTER, SHEFFIELD, AND LIN-

COLNSHIRE.