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

RAIL WAY INTELLIGENCE.

MONMOUTHSHIRE,

The half-yearly meeting of this company wcs
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 CHAIRMAN, in moving the adoption of the
report, congratulated tne share'iolder3 on the satis-
factory and prosperous condition of their affairs.
The revenue was increasing in every department,
and the expenditure had been reduced. The total
income derived from the traffic was for the half-
year ending Dec. 31, 1855, 53,4011., and for the
half-year enc Prig Dec. 31, 1856, it had increased to
57,9261. The working expenses for the former
period amounted to 35,0691., or 651-, per cent., and
for the latter to only 31, 2311., 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 ha thought. no shareholder
would have reason to find fault. The working ex-
penses being deducted, there remained a balance of
26,694/. 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 Juue next, leaving a balance of 1,943/.
to be carried for ward 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. LYME believed that if the suggestion made
by Mr. Snow were adopted it would prove a great
boon to the working classes, and would ba a must
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 in the
hands 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 had 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,
had remonstrances from the clergy and ministers of
all denominations, as well as from large numbers
of the respectable inhabitants, in consequence 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-

OOLNSHIRE.

The working expenses and other outgoings of this
company's railways (exclusive of the Manchester,
South Junction, and Altrincham, stated below)
have amounted in the fortnight ending May 17 to
9,3381. 13s. 6d., while the corresponding period of
1856 amounted to 8,5511. 4s. 11d. The sum of
84,1981. Hs. 7d., already stated for the first nine
fortnights of the half-year, added to the 8,3381. 13s.
6d., as above, makes a total expended of 93,5371.
ss. ld., as against 89,4981. 2s. 4d. for the cones-
ponding ten fortnights of the previous year, show-
ing an increase of 3,039/. 2s. 9d.in the expenditure.
Tue proportion of South Junction, &c., receipts ac-
cruing to this company for the fortnight ending May
17 amounts to 1,2021. 6s. Bd., as against 1,1641. 2s.
sd. for the same period of 1856. The sum of 7,226/.
7s. 2d., as previously stated for the first nine fort-
nights of the half-year, added to the 1,2021. 6s. Bd.
as above, makes a total receipt to May 17
of 8,4281. 13s. 10d., as against 7,6211. ls. 10d. for
the same period of 1856, showing an increase of
8071. 12s. in the receipts. The proportion of South
Junction, &c., working expenses and other out-
goings for the fortnight ending May 17 is
503/. 13s. 2d., while the corresponding period of
1856 amounted to 3951 ss. sd. The sum of
3,627/. 155., already stated for the first nine fort-
wghts of the ha!f-year, added to the 5031. 13s. 2d.,
as above, makes a total expended to May 17 of
4,131/. Bs. 2d., as against 3,827/. 7s. 9d, for the
corresponding ten fortnights of the previous year,
showing an increase of 304/. sd:in the expenditure.

BRADFORD, WAKEFIELD, AND LEEDS.
Yesterday the general meeting of this company
was held at Bradford : Mr. Firth, chairman, pre-

sided.

Mr. T. H. Carr, the secretary, read the report,
which stated that the principal works remaining to
be completed at the commencement of the mouth
were 11.4,000 cubic yards of earthwork and 31r miles
of permanent way. The time for opening the line
depended upon the completion of the earthwork.
There were still 50,000 cubic yards to b 3 removed
from one eud of the Wrenthorpe cutting, and
about the same quantity of excavation to be re-
moved at the southern end of the tunnal. Mr.
Hawkshaw, the engineer, went over the whole of
the works ou the 16th inst., and impressed on the
contractor, who accompanied him, as strongly as
he could the necessity of using every exertion to
complete the works without delay. The capital
account showed 168,1521. received and 164,6021.
expended, leaving 1,4501. due to tho bankers._

The CHAIRMA, in moving the adoption of the
report, stated that the line would probably be
opened by the Ist of August next.
Mr. J. ANDERTON seconded the adoption of the
report, which was unanimously agreed to.
A vote of thanks to the chairman concludei tha
proceedings.

TILBURY, MALDON, AND COLCHESTER.
Yesterday a meeting of shareholders in this pro-
ject was held at tile To wn- all, Colchester, to consider
the present position of the undertaking. Mr. Brown
was called to the chair.
The CHAIR3IAN stated that the project had un-
fortunately fallen to the ground, in consequence of
an arrangement entered inro with the Eastern
Counties Company. On Friday a deputation of the
directors had an interview with the Eastern Coun-
ties directors, and Mr. Love, the chairman, who
received them very politely, promised in general
terms that every facility should be given for the ex-
tension of the trade of the town and neighbourhood.
Arrangements were subsequently made for having
an interview with Sir Morton Peto on Monday after-
noon, and when the interview took place Sir Morton
promised that the deposits should be immediately
returned in full, with interest from the date of pay-
ment at the rate of 5 per cent. per annum. Tee
deputation impressed upon Sir Morton Peto the
necessity of putting into their hands the plans, sur-
veys ttt.c. (which had cost a heavy sum), provided
the line should go on at some future time,
as the Maldon gentlemen and those between
Mallon and Pittsea were anxious it should, if only
a single line of rails were laid down. Sir M. Peto
Promised that if the scheme came upon the carpet
within three or four years, or any future time, the
plans should be available, and if an Act were ob-
tained a fair compensation for the expense to which
he had been put would be all that he would re-
quire. With regtardto his interference or assistance
in the scheme, iwould be influenced by the posi-
tion he might then hold—friendly or antagonistic
—with regard to the Eastern Counties Company.
the
Mr. BARNES said, provisional direr} ors, as far
as they were concerned, had known nothing of the
arrangements which hadtaken place between Sir
M. Peto and the Eastern ounties Company with
regard to the East Suffolk line. At the interview
on Monday Sir M. Peto had expressed his great
regret that the provisional directors had not been
communicated with before any arrangement was
made for the disposal of the line ; and he assured
the deputation that it was his full intention that
e
they should have been made acquainted with what
was going on. The reason assigned for the aban-
donment of the line was the adverse state of the
money-market.
A lengthy conversation followed, in the course of
which considerable dissatisfaction was expressed at
the manner in which the project had been sacrificed
in the negotiations with the Eastern Counties Com-
pany with respect to the East Suffolk.
Mr. Tabor, Mr. Catchpole, Mr. Bawtree, Mr. S.
Turner (town-clerk), Mr. Taylor, Mr. Hawkins.
and other gentlemen took part in the discussion.
Resolutions were declared to be carried unani-
mously expressing great disappointment at the aban-
donment of the Tilbury, Maldon, and Colchester
Railway ; and stating that the provisional directors
were free from all censure in the matter.

......_ __ _
The proceedings concluded with a vote of thanks
to the Chairman.