The Sun.
London, England, 1859-02-21 00:00:00

NEWCASTLE AND CARLISLE.

A special meeting of this company was held in
the central station, Newcastle, on Friday, for the
purpose of considering the expediency of amalga-
mating with the North-Eastern Railway. Mr. W.
Woods presided.
The CHAIRMAN, in moving the adoption of the
proposed amalgamation, said that the charge of
mismanagement that had been made was without
foundation ; for while in 1852 the net receipts from
traffic were only £125,524, the receipts in 1857 had
increased to £179,465. Again, comparing the net
profits, they found that in 1852 they amousied to
£47,452, and in 1857 to £77,391. (Hear.) Com-
plaints had also been made that the rates had not
been reduced; but he could assure them that reduc-
tions had been made repeatedly, and they had only
resulted in serious losses to the company. On one
occasion they had reduced the rate on corn from
15s. to 10s. per ton, and they sustained great loss
by the alteration. A thorough investigation of ac-
counts on both sides had resulted in the firm con-
viction that an amalgamati▪
on with the North-
Eastern would be attended wi▪ th mutual advantages,
and the bases of that amalgamation had been now
settled on the proportions of profits of the New-
castle and Carlisle Company of 1855,1856, and 1857.
The result was that the proportion of one-tenth of
the profits would be given to the Newcastle and
Carlisle Company, less £1,450, which the directors
had agreed to concede.

Mr. HALL was persuaded that if they had better
management, and remained independent, their
shares would pay 8 per cent.
Mr. S. BEAUMONT moved the adjourhment of the
debate with a view to obtain further information.
Mr. P. ELLISON seconded the amendment.
Mr. COOKSON seconded the proposal for amalga-
mation.

A long discussion ensued. Eventually the
chairman agreed to postpone the debate till the
annual meeting on the 16th of March, and it was
arranged to form a committee of dissenting share-
holders to investigate the accounts.
The meeting then separated.

WEST-END OF LONDON AND CRYSTAL

PALACE.

The directors of this company state in their re-
port that the gross receipts from the traffic for the
past half-year amounted to £14,334. In conse-
quence of the commutation of one moiety of the
Brighton toll from £B,OOO a year to £4,000, in July
last, the increase of the general traffic was not im-
mediately apparent. This, however, had amounted
to £4,035, the gross bookings being £12,056, as
against £8,021 for last half-year—the best for the
Crystal Palace traffic. Considering that the almost
total cessation of the steamboat traffic during the
summer months, owing to the bad state of the
Thames, and the want of proper omnibus service at
the Pimlico station had operated most prejudicially
against the development of the traffic, the directors
regard the increase as satisfactory. Several items
have been charged against the revenue account for
the half-Tear, belonging to previous periods, which
might fairly have been carried to the debit of the
capital account, and the directors regret that the
working of the line from Norwood to Bromley has
hitherto been a slight source of loss. Arrange-
ments have, however, been made with respect to
that portion of the line. These circumstances have
contributed to reduce the disposable balance to
£3,224, which the directors recommend should be
carried to the next half-year. The directors
state that £70,000 of the debentures which were
issued three years ago at six per cent.
fall due next June, and they have already arranged
for the renewal of the greater portion of them at
41 per cent.
The capital account shows that £672,165 had
been received and £719,664 expended, leaving a
balance of £47,499 against the company. The
revenue account for the half-year showed that
£14,502 had been received, and £7,636 expended,
leaving a balance of £8,497, out of which £5,038
is deducted for interest on loans, and £234 for rent,
leaving, with £1,631 from June, a balance £3,224.