The Sun.
London, England, 1850-09-11 00:00:00

The half-yearly meeting of this company was held
at Paris on Thursday, M. C. Laffitte in the chair.
The report stated that the receipts for the half-
year ending the 30th of June last, amounted to
820,651 f. (32,8261.), and the expenses to 648,6811.
(25,9470, leaving a net profit of 171,9701. (6,8790,
and.allo wing of a dividend of 21. 50c.'per share. Nothing
has yet been definitively decided with regard to the
law-suit still pending between this company and the
Northern Company. In reference to the question of
carrying the mails between France and England, the
report maintains that the several trials made on the
subject have proved the superiority of the route by
the Boulogne Railway. Alluding to the great conve-
nience afforded to travellers from England by the per-
mission granted to have their luggage examined, not
on landing, but at Paris, a hope is expressed that
some analogous accommodation will ba ere long
granted with respect to passports, so as to remove
as much as possible all trammels on the facility now
afforded to persons passing from England to
France. Reference is made to the excursion trips
this year between Paris and London, stating that
they have been a source of profit to the company.
With regard to the proposition made by the Northern
Company to purchase the Boulogne line, it would appear
that the object was to enable the Northern Company
to get its period of concession extended from 38 to
75 years. The board had not considered it desirable
to consent to the proposition, and had accordingly re-
jected it. The board trusted that the meeting would
approve of the decision which it had come to respect-
ing the proposition made by the Northern Company.
A conversation ensued, in the course of which it
was stated that the offer was to the effect that one
Norther❑ share should be given for two shares of the
Boulogne Company, provided always that the
Northern Company should succeed in obtaining the
extension of the concession. After the rejection of
propositions for amalgamation with the Northern
Company, and for the appointment of a committee to
aid the directors in effecting that object, resolutions
were passed approving of the manner in which the
board had acted, and for their attention to the in-
terests of the company, adopting the account, de-
claring a dividend of 2f. 30c. per share for the half
year, and authorising the instalment of 38,7001.
(1,5481.) in the Sous Comptoir des Chemins de Fer.
It was stated that nine-tenths of the shares were
held in England, and however anxious the English
shareholders might be for an amalgamation with the
Northern Company, they could not consent to it on
such unfavourable terms as bad been offered. The
meeting then separated.

GLASGOW, KILMARNOCK, AND AYR.
The half-yearly meeting of this company was held
on Friday, at Glasgow, Mr. A. Orr in the chair.
The report was taken as read.
The CHAIRMAN said that the falling-off in the
traffic had been principally occasioned by the recent
strike in the mineral district, which reduced the re-
ceipt to the extent of nearly 6,0001., while the ex-
penses of working the railway during its continu-
ance could not be sensibly diminished. He was glad,
however, to state that the traffic was gradually re
covering from its depression, and during the last
eight weeks had exhibited signs of general improve-
ment. In comparing the number of passengers he
found that an increase of 270 had taken place in the
first class, and of 39,255 in the third class; while
there had been a falling off of 5810 in the second
class; the net increase during this half year, as
compared with 1849, being 33,715, and the ad-
dition to the revenue 1,2411. A few additional
miles have been opened between Auchinleck and
New Cumnock during the last two months of the
half-year ending the 31st of July, but little could be
expected from this portion of the line until the Dum-
fries and Carlisle Railway is opened. The directors
continue to obtain by contract all their supplies for
working the line, and take care that the strictest
economy is observed in every department. The divi-
dend, at the rate of 2i per cent. per annum, which
the directors recommend, will absorb the balance, and
only allow of 2,3641. being placed to the credit of the
depreciation fund, in place of 5,0001., as formerly.
From the large extent of country which the railway
accommodates, and the steady, but slow increase,
which invariably takes place where there is an absence
of competition, he thought it reasonable to expect that
a long period would not elapse before they were
placed in a more favourable position, provided they
resolutely opposed any further extensions of their
railway, and also provided they would assist the
directors in closing the capital account. The Dumfries
line would be opened about the middle of OJtober.
They expected to obtain their coke at the south
end of the line for 15s. per tun, which would be a
saving of about 30 per cent. on the present price-
21s. per ton. The ruinous depreciation which has at-
tended rail way property, and the severe lesson which has
been taught to all railway companies, would he
thought ultimately lead to a sound and business -like
mode of management, and to the establishment of a
system of mutual co-operation among the companies,
instead of ruinous competition and expensive opposi-
tion. The directors expect that an arrangement on
fair terms will be concluded with the Caledonian Com-
pany, in reference to the through traffic, which it is
hoped will be beneficial to both companies. He could
assure them that the directors would do all in their
power to promot a harmonious feeling and action be-
tween the two companies. lie concluded by moving
the adoption of the report.
Mr. Bugles seconded the motion.
After some conversation relative to the separate
management at Paisley, the abandonment of the Ren-
frew branch, and the propriety of having two classes
of carriages instead of three, resolutions were passed,
adopting the report, and declaring a dividend at the
rate of 2i per cent. per annum.
The meeting then separated.

GLASGOW, DUMFRIES, AND CARLISLE.
The half-yearly meeting of this company was held
on Friday, at Glasgow, Mr. A. Orr in the chair.
The report was taken as read.
The CHAIRMAN, in moving the adoption of the re-
port, observed that the affairs of this company were
conducted under the same direction and management
as the Glasgow and Ayr Company, and both under-
takings were so assimilated in point of interest, and
so soon to be amalgamated, that there was no ne-
cessity for separate statements of their position. This
company having resolved to finish the line, the direc-
tors have been most anxious that it should be com-
pleted as speedily as possible. There could be no doubt
that it would be a great relief to the board to have no
further expenditure on new works, and in place of
devoting their time and attention almost exclusively,
to engineering questions, legal difficulties, the settle-
ment of land claims, damages, and so forth, as at pre-
sent, they would be at liberty to attend carefully to
the development of the traffic and the economical
management, of the company's affairs in every de-
partment. Notice had been given to the Railway
Commissioners that the line will be ready for inspec-
tion on the sth of October, and unless some unfore-
seen circumstance should occur to prevent it, the
line will be opened for public traffic on the 15th of
that month.
Resolutions were then passed adopting the report,
approving of the payment of interest at the rate of 5
per cent. on the paid-up capital, and appointing Mr.
W. Mackenzie an auditor in the room of Mr. D.
Smith, who retired.
The CHAIRMAN stated that it was not the intention
of the directors to have any demonstration at the
opening of the line, hut they had it in contemptation
to give each registered shareholder a free ticket to
pass over the line, which would be available within
one month after the opening.
The proceedings then concluded.

EDINBURGH, DUNDEE, AND PERTH.
The half-yearly meeting of this company was held
at Edinburgh on Monday ; Mr. John Balfour, of Bal-
birnie, the chairman of the company, presided.
The report, which was held as read, entered at
great length into the affairs of the company from
their commencement up to the present time. Owing
to the great opposition which the company had re-
ceived, no less a sum than 65,1771. had been incurred
in Parliamentary expenses. The whole 67 miles of.