The Sun.
London, England, 1845-08-07 00:00:00

..... 134,250 17 7

£15,498 0 0
42,166 19 3
1,000 0 0

X 58,164 19 3
There remains a net profit 0f... £259,965 11 3
To which. adding the surplus of the December

half-year ...
And profit realised on the allotment of the
New 251. Shares

47,093 1 3

5,000 0 0

The disposable balance is Z312,058 12 6
from which amount the Directors recommend that a dividend
be declared, clear of income tax, of Si. on every 1001. of the
Company's capital stock, leaving 69,310/. (from which the
income tax is to be paid) to the credit of the present half-
year.
The Directors in reporting that the Northampton and
Peterborough line was opened on the 2d of June, are enabled
to state, from their brief experience of the traffic, that the
expectations they had formed as to the value of this railway
to the public and the Proprietors will be fully realised.
The works of the Chester and Holyhead, and Lancaster
and Carlisle lines, are in a satisfactory state of progress, and
funds have been voted by Parliament in the present session,
for the commencement of the Holyhead harbour.
The royal assent has been given to the Trent Valley, Bed-
ford, Dunstable, and West London Bills ; in all which lines
this Company has a direct interest. The works of the Bed-
ford and Dunstable lines will be commenced without delay.
The Directors regret that the issue of the proceedings in
the Worcester and South Staffbrdshire, and Rugby and
Oxford Bills, disappointed the reasonable expectations which
had been founded on the able and comprehensive Report of
the Board of Trade. The result has in no respect shaken
their opinion of the superior advantages which these lines
would have afforded to the district for whose accommoda-
tion they were p.lanned on the narrow gauge; and the evi-
dence before the Committees only the more confirmed the
Directors in their belief of the prejudicial effects which
must follow the introduction of a gauge, differing from that
which is uniformly laid down throughout the country, with
which it is proposed that the wide gauge shall be connected.
That a Company whose line is formed on the narrow
gauge, and whose interests appear to be directly connected
with the support of the system, should have aided the op-
posing party, may be matter of surprise, but the Dircetors do
not feel called upon to enter into a discussion of the grounds
on which the Company referred to has sought to vindicate
the proceeding. The Directors have a duty to perform to-
wards their own Proprietors, and to this they will steadily
adhere. They will oppose what they consider unjust to-
wards Chit Company, and encourage on the other hand mea-
sures which, in affording additional accommodation to the
public, are calculated to maintain the interests of their Pro-
prietors. They are persuaded that no measures are better
adapted to this end than moderate charges, combined with
economy of management ; and that a steady adherence to
these principles will afford the most effectual guarantee to
the Company against unfair competition.
Following up their views on this subject, the Directors
made in the last month a further and important reduction in
the rates for merchandise, the effect of which has already
been to add greatly to the tonnage, without lessening their
receipts.
The Proprietors will be called upon to give their sanction
at the present meeting to a creation of new shares, for the
capital which is required to meet their engagements for the
Company's interest in the Chester and Holyhead. Trent
Valley, Lancaster and Carlisle, West London, and Aylesbury
lines. They recommend, for this purpose, that a new share
of 20/. be offered to each Proprietor of 1001. stock of this
Company, leaving a proportional reserve of shares for the
capital of the Manchester and Birmingham Company—the
new shares to participate in the future dividends from and
after the Ist of October next, subject to the deduction of 5 per
cent. interest on the amount not called for and paid.

A resolution was then proposed by the Chairman and
carried unanimously, to the effect, that the report then
read should be adopted and printed, and circulated
amongst the Proprietors, and that a dividend of 5 per
cent. should be declared on the consolidated stock of the
company of 4,124,5261. ; and that a dividend of 17s. on
each of the 321. new shares, amounting to 241,7511 125.,
should be declared free of income-tax. ,
Another resolution was also unanimously agreed to for
creating new 201. shares ; as was also a resolution to in-
crease the present number of Directors from 17 to 24.
Mr. WILLIAMS wished to know whether the Directors
had in contemplation any alteration with respect to the
charges for carrying goods ?
The CHAIRMAN said that at present the Directors had
not in contemplation the making of any alteration.
They were aware, however, that abuses had crept in,
but they were devising plans by which the public would
know what was charged by the Company. If, however,
they found that the plan they were now adopting was in-
jurious to the public, they would then consider the pro-
priety of becoming carriers on their own account.
If combination went on with the carriers, the Company,
he was sure, would think it right to interfere ; but the
Directors were of opinion that if they could consult the
interests of the public and act with the carriers, the in-
terest of the Proprietors would be the result.
Iu answer to a question from a Proprietor,
The CHAIRMAN assured the meeting that everything
would in future be dune that lay in human power to pre-
vent accidents occurring on the railway.
Mr. HOMFREY wished to know if the Directors had
come to any determination to facilitate the attendance
of Proprietors who lived in the country at the meetings
which were held in London ?
The CHAIRMAN said that that was a subject which
rested with the Proprietors themselves, rather than the
Directors.
Mr. HoNFREY then gave notice, that at the next meet
ing he should move that all the trains on the railway
should be free to the Proprietors on such occasions.
A PROPRIETOR considered that, while they were re-
ceiving such ample dividends, and the Company was
going on so prosperously, they could afford to pay the
fares them,elves.--(A laugh.)
Thanks-ware then voted to the Chairman and the Di-
rectors, and the meeting separated.

LONDON AND BRIGHTON RAIL-
WAY.—(THIS DAN.)
The usual half-yearly meeting of the London and
Brighton Railway Company was held this afternoon
at the London•bridge terminus. The meeting was
made special, for the purpose of sanctioning
the purchase of the Brighton, Lewes, and Hastings, and
the Brighton and Chichester Railways. Mr. Rowland
Hill, Chairman of the Board of Directors, occupied
the chair. The report, which was of an
exceedingly satisfactory nature, stated that the
late reduction .1% hich had taken place in the fares
had produced the most satisfactory results, and re-
commended the meeting to declare a dividend of
20s. per share. The report having been adopted,
a dividand was declared accordingly, and resolutions rati-
fying the terms of the purchases of the Brighton, Lewes,
and Hastings, and the Brighton and Chichester Rail-
ways which have already been made known to the public,
having been agreed to, a vote of thanks was passed to
the Chairman, and the meeting terminated.

RAILWAY COMMITTEES.
(THIS DAY.)

LONDON AND TORE.
This Committee has been engaged all day in examination of
witnesses regarding the contract-deed. But as tar as we could
learn, nothing was elicited in any way to ♦itiate the subscrip-
tion contract-deed.

SPORTING INTELLIGENCE.
(RECEIVED THIS AFTERNOON.)
HARWICH RACES.—WEDNESDAY.
These races commenced under favourable auspices to• day.
There was a good attendance of sportsmen.
The Willoughby Stakes of 5 sous. each, with 20 sous. added.
Heats twice round and a distance.
Sir C. Monck's br gMy Old Hack (Cartwright) 1 1
Mr. Osborne's Bedale .

s.
Betting-2 to lon My Old Hack at starting. First heat
won by a head, after a beautiful race. Second heat won in
a canter.
The Tradesmens' Gold Cup of 60 sovs. in specie, added to a
Handicap Sweepstakes of 15 sovs. each : 10 ft.
Sir C. Monck's b m Glossy
Mr. Owen's b h Xanthus 2
Mr. Wormold's ch li Millipede
The following also started, but were not placed: Mr.
Park's Wasp, Captain Boyd's Dog Billy, Mr. Standish's
Little Hampton, Mr. Hornby's Cock Robin, Mr. Barge's
Staley.
Xanthus took the lead, kept it until the second time round
at the blue post, when he was headed by Glossy. At the
turn into the straight run, Millepede challenged, and raced
to the distance, when he took the lead. He soon resigned
it to Glossv, and there was a beautiful race between Glossy
and Xanthua, which ended in the mare winning on the post
by a head. Millepede was the tavourite.
Match for 25 sovs. each. Three-quarters of a mile.
Mr. Jorny's b g Catton walked over.
The Hunters' Stakes of 10 soya each, with 20 sovs added.
Heats, once round.
Mr. Hobson's Mayflower ... 1 0 0 0
Mr. Robinson's Wasp
Mr. Du Vernet Muirhead's Lara 3 0 1 0
For the fourth heat Lara walked over.
For the first heat Lara was backed against the field. May-
flower for the second heat, and Wasp all the go for the third
heat and plate. May flower bolted at the distance in the se-
cond heat.

GRAVESEND AND ROCHESTER RAILWAY.--Thq fol
lowing are the traffic returns for the week ending 2d Aug.
P monger', 14,114 ; an►ount received, 3441. 15i. 2d.