The Sun.
London, England, 1868-03-04 00:00:00

KINGSBRID GE.

The half-yearly meeting was held on Saturday at
Kingsbridge ; Mr. W. B. Fortescue in the chair.
The report expressed regret at the slow progress
of the works, owing to the difficulty of obtaining
possession of the land, and also at the reluctance of
shareholders to pay calls. The works were com-
menced on the 24th of June last. The receipts
amounted to £8,918, of which £7,886 had been ex-
pended, leaving a balance of £1,032.
The CHAIRMAN, in moving the adoption of the
report, said that so far as the works had been con-
structed they were satisfactory. It was to the di-
rectors a matter of deep regret that they had been
compelled to sue certain shareholders for the amount
of their calls in arrear. _ _

Mr. SHORTLAND seconded the motion, and it was
carried. _

The Earl of Devon and Mr. W. B. Forteseue
were re-elected directors, and Mr. A. Browne,
auditor.

BUCKFASTLEIGII, TOTNES, AND SOUTII DEVON.

The half-yearly meeting of this company was
held at Totnes on Saturday ; Mr. J. Bowden in the
chair.

The report stated that during the last six months
ineffectual negotiations had taken place between
the directors and the contractor, with the view of
getting him to complete his contract, and they were
convinced that the works would remain at a stand-
still until another contractor was obtained. The
receipts from calls amounted to £17,595, of which
£13,375 bad been expended in constructing the line,
£2,376 had been paid for land, and £1,62l in Par-
liamentary expenses.
The report was adopted, and the proceedings
terminated.

SWANSEA VALE.

The half-yearly meeting was held at the offices,
Swansea; Mr. S. Benson in the chair.

The report stated that the total receipts for the
six months ending December 31 amounted to
£12,795, being an increase over the corresponding
half-year of £1,166. The working expenses were
£5,868, against £4,774, showing an increase of
£1,094. The available balance after payment of
interest on mortgages was £3,675, out of which the
usual dividends were recommended on the preference
shares, and a dividend of 1 per cent. per annum on
the ordinary shares, leaving a balance of £319.
The CHAIRMAN, in moving the adoption of the
report, said the large proportion of preference capi-
tal kept the ordinary dividends down, for had the
line been constructed out of original capital the dis-
tribution would be 3 per cent.
The report was adopted, and the dividends re-
commended were declared.

ABERDARE.
At the half-yearly meeting of this company, held
at Bristol, a dividend at the rate of 10 per cent.
per annum, less income tax, and ls. per cent. for
management, was declared, payable on the 7th inst.
Messrs. P. 11. Vaughan, 11. J. Evans, and C. Mal-
lard, the retiring directors, were re-elected.

WATERFORD AND LIMERICK.
The report of the directors states that the traffic
receipts for the half-year ending the 31st of Decem-
ber last amounted to £12,372, and for the same
half of 1866 to £42,316, showing an increase of
£26 ; but the receipts of the last half of 1866 were
the largest the company ever had, and were swelled
by a traffic in Indian corn and other breadstuffs,
which they had not had to the same extent in the
past half year. Having regard to the large unex-
pected plant depreciation which had become need-
ful to write off, the Board had felt it right to trans-
fer to reserve the surplus balance of £2,316, in
reduction of that debt. They much regretted that
this absorbed for the present the dividend on the
ordinary stock otherwise available, but as such
a charge was not likely to again occur,
they trusted that the shareholders would
approve the course taken. they stated that
the very serious inconvenience to which the
public had been subjected by the removal of the
Kilkenny passenger station to a timber building on
the common of Newrath, nearly a mile from the
city, had in no way been caused by them, having
in their letter of the 2d of October last freely in-
vited the Kilkenny Company to use their new sta
tion at Waterford, giving an assurance that till a
settlement was come to their position should in no
wise be prejudiced thereby, and offering to refer all
differences between the companies to the arbitration
of the Board of Trade. The capital account to
Dec. 31 last showed that £1,337,003 had been ex-
pended, leaving a balance against the company of
£31,486. The revenue account showed that
£43,371 had been received, and £21,926, or 50.43
per cent. expended, leaving a balance of £21,511.