The Sun.
London, England, 1857-02-23 00:00:00

MAD R.A.S.

The half-yearly meeting of this company was held on
Thursday at the London Tavern ; Major-General D.
Sun in the chair.

An abstract of the report of the directors appeared in
The Sun of Monday.

The Chairman, in moving the adoption of the report,
sainhe total receipts for the half-year amounted to
127,862 rupees, and the working expenses to 66,583
a profit of 61,279 rupees towards the
re
payment of interest advanced by the East India
rupees,Company.
leaving
The profit on the working was equivalent to
2} per cent. per annum on the capital expended in the
construction of the line opened and in providing the
rolling stock.
Mr. Arbuthnot seconded the motion, which was una-
nimously adopted.
A long discus6ion ensued, in which Dr. Beattie, Mr.
J. Bates, and other shareholders took part, in the course
of which the interference, by the Government of Ma-
dras in the management of the traffic and other arrange-
ments of the company was strongly objected to, and its
legality questioned.

On
the motion of Mr. G. Norton, seconded by Mr.
Lewin, the following resolution was almost unanimously
passed, there being only one dissentient : •
" That any controlling interference of the local Govern-
ment of India, through its officials for regulating the
traffic affairs, with a view to the cheap accommodation of
the
.public, by mincing the profits of Indian railway com-
panies below 10 per cent. on the capital, is opposed to the
spirit of the contract between the East India Company
and the railway companies, and that the directors be re-
quested to continue their exertions in carrying out the ob
pets of this resolution."
Resolutions were passed re-electing Lient.-Col. D.
Montgomerie, Major-General D. Sim, and Mr. A. Mac-.
kenzie, the retiring directors, and Mr, G. Norton, the
retiring auditor.
- -

The proceedings concluded with a vote of thanks to
the chairman and directors,

The railway meetings of last week were again
numerous. The London and North-Western dividend
will be at the rate of 6 per cent. per annum, leaving a
balance of about 4 500/ ~ the proposal of the directors to
distribute :at the rate of 54 per cent. having been de-
feated. The points brought under consideration were
the results of management, the necessity for economy,
and the contemplated expenditure of 350,0001. for the
.
construction of the third line of rails from Willesden to
Bletobley and other works, and 25,3601. on various
station..
and sidings for increased accommodation.
Aceordiug to the report of the South-Eastern Com-
pany, the net balance available .for dividend on
the ordinary Consolidated stock is 187,4031.,
which, after the payment of 15a. per 301. stock,
or at the rate of 5 per cent. per annum
for the past half-year, will absorb a sum of 185,8421,
leaving a balance of 1,561/. The report of the Eastern
Counties Company
states that, including 3,4661. brought
forward from last account, the available amount is
80,4381. As the directors
propose to declare a dividend
of ss, per share, which will take 72,9201., the sum re-
maining is 7,5181. Great attention has been paid to eco-
nomy in the carious departments, and several unprofit-
able arrangements have been modified and others termi-
nated. At the Blackwell Railway meeting the dividend at
the rate of 3s. 6d. per share was confirmed, and the report
was agreed to. , It is stated that the Eastern Counties
Company show a disposition to une the line forshort traffic.
The agreements with the North London Railway and the
lessees of the Tilbury
Company and the Victoria Docks,
respecting warehouse accommodation, had been
of view. The sanc-
tioned by a majority. The report of the Scinde Railway
has been adopted, and the whole of the speakers directed
attention to the advantages of the undertaking in a com-
mercial, political, and military
point
divid-
end declared atthe meeting of the Blyth and Tyne Com-
pany was at the rate of 8 per cent., and the prospects of
traffic are considered satisfactory. The Morpeth branch
wilt shortly be opened for the use of the public. At the
adjourned meeting of the Great Western Company the
result of the poll on the question of the amendment was
declared to be a large majority in favour of the direc-
tors. Explanations were entered into with respect to
greater number of shareholders. The report of the Mid-
the coal traffic, which appeared to be satisfactory to the