The Sun.
London, England, 1859-04-22 00:00:00

BAHTA AND SAN FRANCISCO.

The half-yearly meeting of this company was
held on Wednesday, at the London Tavern—Mr. J.
Samuel in the chair.

The Secretary read the report, an abstract of
which has appeared in The Sun.
The CHAIRMAN, in moving the adoption of the
report, congratulated the shareholders on the satis-
factory progress of the works. The anticipations
which the directors had expressed last year had
been fully borne out by the result of the arrange-
ments their agents had made for the efficient com-
pletion of the railway. They had overcome all the
difficulties that had interposed with respect to ob-
taining the possession of land required for a portion
of the railway, and to enable the contractors to
proceed with the works. With respect to the ques-
tion of labour, they had now about 1,200 men on
the line, 700 of whom were from the Italian States
and Sardinia. Their position was that they had to
make 78 miles of railway for £1,800,000, which
was about £23,000 per mile. This would be fully
sufficient to complete the railway and stations and
provide the necessary rolling stock. The line was
a single one, but land and works would be pro-
vided for a double line. __ _ . _

Mr. WEGUELIN, M.P., seconded the motion for
the adoption of the report.
After some observations from Mr. Hartridge,
Mr. Borrodaile, Mr. C. Nicholson, and Mr. Michell,
the report was adopted.
Mr. Franklin, the retiring auditor, was re-elected,
and the meeting separated.
BUFFALO AND LAKE HURON.

The half-yearly meeting of this company was
held on Wednesday at the London Tavern—Mr.
Andrews 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, adverted to the various matters contained
in it, and explained the difficulties with which the
company had had to contend, both in respect to
capital and revenue.
A long discussion ensued, in the course of which
it was stated that serious impediments had been
placed in the way of their traffic. The through
traffic which ought to have passed over their line
had been diverted from them by other railways.

The CHAIRMAN stated that the traffic returns
of the corresponding period of last year had
been over-stated to the extent of £4O or £5O per
week in consequence of the recent award f'r the
postal service being less than the estimated
amount. In future the excess would be deducted
from the returns of the corresponding period, so as
to make a fair comparison.
The report was then adopted, and the directors
were authorized to forfeit and sell shares upon
which two calls were due.

The meeting was then made special, to consider
the propriety of raising fresh capital.
The CHAIRMAN explained that the intended loan
of £50,000 in January last had not been fully taken
up, there being £ll,OOO of it on hand, only £39,000
of it had been taken up. Those debentures would
have to be paid off in January next. He concluded
by moving a resolution to the effect that £153.750
be raised by the issue of 30,000 ordinary shares of
£2O lOs each, at £5 21. 6d. per share. There would
then be share for share. The holder of each £2O

10s. share would have the option of taking up
another share for £5 2s. 6d., making the price of
the two shares £25 12s. 6d. The cost of the line
with this additional capital would be under £lO,OOO
per mile.
A formal resolution was passed authorizing the
issue of the 30,000 shares at £5 2s. 6d. each to the
shareholders in the first instance, and, if not taken
up by them, to the public afterwards ; and also
authorizing the directors to borrow £50,000, or to
renew the bonds to that amount when they fall due.
A vote of thanks to the chairman concluded the
proceedings.

GRAND TRUNK OF CANADA.
The London directors of this company, in com-
pliance with the resolution of the special meeting
held in Canada on the 23d ult., authorizing the
issue of second preference debentures to the amount
of £1,111,500, have, with the view of promptly
completing the unfinished portions of the works at
the earliest practicable period, determined on offer-
ing those second preference debentures to the pre-
sent share and bondholders on the following terms :
—That they shall be for a period of 20 years from
the Ist inst., and shall bear interest at the rate of
6 per cent. per annum ; that they shall be issued
to the registered proprietors of consolidated stock
and to the holders of the First Preference and Ordi-
nary 6 per cent. Debentures of the company in the
proportion of £lOO for each £4OO of capital held;
that each debenture of £lOO shall he issued at 190 ;
that 20 per cent. shall be payable on the 6th of
May, and 10 per cent. on the first of each succeed-
ing month, making the whole 90 per cent. to be
paid by the Ist Dec. next. Persons desirous of paying
the whole 90 per cent. shall be entitled to receive in-
terest at the rate of 6 per cent. per annum on £lOO
from the date of payment. ^The directors inti-
mate that by the last report from the engineer in
Canada the works at the Victoria-bridge are pro-
gressing in a manner to leave no doubt of its being
in a state to be opened for traffic by the Ist Nov.
next, by which date the extension of the Grand
Trunk Rail way from St. Mary's to Sarnia, and the
line from Port Huron, opposite Sarnia, to Detroit,
will also be completed.

OXFORD, WORCESTER, AND WOLVER-

HAMPTON.

The receipts of this company, including the Stour-
bridge Extension and Stratford-upon• Avon canals,
for the fortnight ending the 10th of April, have
been £8,813, while those for the corresponding
fortnight of 1858 amounted to £7,762, and the ex-
penditure to £3,833, being at the rate of 43.49 per
cent., while that for the corresponding fortnight of
1858 amounted to £3,720, or at the rate of 47.92
per cent. The aggregate receipts for tb.e first seven
fortnights and two days of as half year amounted