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

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 clay•, and of 39,255 in the third class; while
there had been a' falling off (4..5,810 in the second
class ; the net increase Airing this half year, as
compared with 1849, being 33,715, and the ad-
dition to the revenue 1,2441. A few additional
miles litre been opened between Auchinleck and
New Cumnock during the last two months of the
half-year ending the 31st c.f 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 October.
They expected to obtain their coke at the south
end of the line for 1.53. 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 railway property, and the severe lesson which has
been taught to all rail way 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-
p any, 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 promot3 a harmonious feeling and action be-
tween the two companies. He concluded by moving
the adoption of the report.
Mr. BURNS 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 21 per cent. per annum.
The meeting then separated.

GLASGOW, DUMFRIES, AND CARLISLE.
The half-yearly meeting of this company was held
on Feiday, 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-
thin on the sth of October, and unless some unfore-
seen circumstance- should occur to prevent 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, but 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 suni than 65,177/. had been incurred
in Parliamentary expenses. The whole 67 miles of