The Sun.
London, England, 1857-02-19 00:00:00

EASTERN COUNTIES.

The report of the directors of this company has just been
issued. It is of considerable length, and enters into a
• Lriety of details with a view to give the shareholders full
information on the state of their affairs. Since the last
meeting the attention of the directors has been occupied
solely with a view to carry out a profitable result. The
loss under the agreement for working the traffic at 46 per
cent, of the receipts amounted to 24,9121. in the first half
and to 36,908/. in the second half of 1856, making together
61,820/. 'The gross earnings for the half-year ending the
31st of December have been 717,85'1., and the expenses
374,3337., leaving 343,533/. for division asfollows :—Eastern
Counties, 245,3747.; Norfolk, 49,0741.; sod Eastern lJnidn,
49,074/, The 46 per cent, for working does not pay the
expense incurred in obtaining this traffic, and the oss falls
exclusively on the Eastern Counties shareholders. The net
sum available for dividend from the half-year's working is
76,9717., aft sr paying all guarantees and preference charges.
To that sum is added 3,4667. from last account, making a
total of 80,4387. available for dividend. The directors have
declared a dividend of ss. per share on the consolidated
stock of the company, which will amount to 72,9201., and
leave 7,5181. for the next account. The mortgage debt on
the 31st of December last amounts to 2,832,7737., showing
an inereasa dor:u_; the half-year of 108,820/. Of this sum
7,0121. was expended on new works for the associated com-
panies, 8,3291. for now engines, and 38,670/. for new lines.
The directors have opened a deposit account with their
bankers, an :t are now receiving 5 per cent. for all moneys
for which they have not immediate use, instead of 2 per
cent. as heretofore.

SCINDE.
The half-yearly meeting of this company was held yes-
terday Gresnarmixiase, Old Broad-street ; Mr. W. I'.
Andrew in the chair.

The CleernmAN, in moving the adoption of the report,
sail they expected to have had official information before
that time as to the line they-were to take for the railway,
but the authorities in Bombay and Scinde ha I called upon
them to ni eke surveys in several directions not contem-
plat,d. This change in the airangewents by the local
authorities had caused so' ie delay, but he believed that
remonstrauces from the home authorities had been sent out
to India, and he trusted the course of the line would soon
be fixed as originally intended. They had sent out in-
structions to their engineer not to make any alteration in
the line, because it was the best suited for the wants of the
district and the purpose of extension. As to the harbour of
Kurrachee, the Government had employed Mr. J. Walker,
the engineer, to report on its capabilities, and he had re-
oontneede t the deepening of the water over the bar across
the harbour, which would be effected at a moderate ex-
pense, so as to a Imit seagoing vessels of largo tonnage to
pass over it • and Mr. Walker stated that he had no doubt,
from the information he obtained, that it would make an
excellent harbour. A scientific gentleman, under Mr.
Walker, ha l been sent out to superintend operations there,
=I he (the chairman) had been recently informed that the
dredging machines were at work deepening the bar. As
an instance of the capabilities of the harbour, one gentle-
man, who had expressed some distrust of landing stores at
Kurracheo for the railway, bad not only found on going
there that he could land them safely, but had signified his
desire to convey any other stores they might require to
that port. They would have no difficulty in securing freights
on moderate terms when the capabilities of the harbour
were kinwn. They had now a staff of engineers in the
l'unjaub making surveys, and he had received a very in-
teresting account of the navigation of the Indies up
to Mooltan. The time at present occupied in transit
from Kurracheo to Lahore was from 20 to 27 days,
bat when'the railways were completed, and steamers suit-
able for the navigation were running between their ter-
mini, it could be performed in six days. He read para-
graphs from the Indian newspapers to show that they ap-
proved his plan for improving the communication from
Kurrachee to Lahore and Umritsir. He was informed
that there were no engineering difficulties whatever on the
proposed Punjab Railway; it was nearly a dead level the
whole way, aced it would not have to cross a stream for
3-4ths of the distance; but at the Mooltan end they would
have to cross a few canals. The Punjab Railway would
open up a larger country than Austria. He then adverted
to the cotton districts to which access would be obtained,
end stated that some very fine specimens of cotton had been
produced in those districts from American seed, and that
immense quantities of ib could be grown in the district,
and would come down the Indus to Kurrachee. Cotton
had been grown on the banks of the five great rivers
in India from time inimemorial. It had been proved
that iron mines existed in India to a great extent, and
they were capable of producing all the iron that was re-
quired for the railways. Some of the ore was exceedingly
rich. There was no possibility of getting cotton unless
they made long railways, and they could not make them
without a good deal of iron. The Euphrates, Scinde, and
Punjab Railways would form three great links in the com-
wunica.tion between Europe and Central India. Prepa-
ration; wore being made for laying down the electric tele-
graph from the Persian Gulf to Kurrachee, and then to
join that system in India.
Resolutions were passed adopting the report, and re•
electing the retiring directors and auditor.
The meeting then separated.