The Sun.
London, England, 1842-02-14 00:00:00

Age Reduced
when Annual
Policy Date ot Sum Original Reduction Premium
was , Policy. Assured. Premium. payable in
issued. I 1841.
--
20 May 1835. £l,OOO £l9 6 8 Xll 12 0 £7 14 8
30 ••• ••• 1,000 24 8 4 14 13 0 915 4
40 ••• ••• 1,000 31 10 0 18 18 0 12 12 0
50 ••• •... 1,000 42 15 0 25 13 0 17 2 0
60 i ... ... 1,000 66 11 8 :39 19 0 26 12 8

The common seal of the Company having been, in confisrmity
with the Act of Parliament, affixed to the register, by the cons; nt
of the Court of Proprietors,
The CstasamaN- opened the business of the meeting with a few
preliminary observations, in wtich hecongratulated the Proprietors
on the successful working of the line during the past half year;
which was the more satisfactory when considered in conjunction
with the present disastrous state-cf commerce in this country, by
which the interests of all and .takings of this sort were, more
or less, injuriou sly affected. Although the interests of this railway had
suffered somewhat in that respect, a steady increase in the traffic of
the line had been kept up ; in addition to which the Directors had
been able to carry out their great object—a decrease of the charge of
working the line--not, however, affected in any way by a decrease
of the stock capital of the Company. In compliance with the ex-
pressed intention of the Directors, at the last half.yearly meeting,
in which the Proprietors present coincided, a valuation of the stock
of the Company had beets made, in the engine stock, by Mr. Bury,
checked by Mr. Hill, of Bolton; arid in the carriage stock, by Mr.
Wright, checked by Mr. N. Worsdale, the mention of whose names
would carry conviction, that the` cluties assigned to those gentle-
men could not have been entrusted to men of more skill and com-
pete:ley to discharge, satisfactorit, the duties that devolved upon
then. The result of their laboufhad been that the system of per
centage, already agreed upon, was riot effectually met by their cal.
culations as compared with the first cost. The Directors, however,were
not prepared to offer to the Proprietors any variation of the present
principle of depreciation, which was found to be fair, equitable, and
in every way satisfactory, and which,4 worked for a sufficient length
of time, would certainly bring abtA,;. the natural,results that must
flow /rem it. At any time, however, when a change should be-
come necessary, the Directors would feel it their duty to bring the
subject before the Proprietors. He alluded with very great plea.
sure to tha liberality of the Proprietors, who have allowed the Di.
rectors to erect schools at Wolverton. He did so with peculiar
gratification, because nothing could exceed the satisfaction which

was felt by the inhabitants in their establishment, not only by one
class of inhabitants, hist by all denominations in the neighbour-
hood, who all expressed their cordial approbation of the conduct
of the clergyman appointed to conduct the schools. As an instance
of the kindly feeling expressed, he mentioned that many Dissen-
ters had put their Sunday schools under the direction of the minis-
ter appointed by the Company. Allusion having been made a
few nights ago to the unfortunate accident at Harrow, which
arose entirely from the negligence of two of the Company's
servants, who paidlthe forfeit of their lives, he referred
with satisfaction to the fact, that not only did that accident arise
from a positive disregard of the orders laid down by the Directors,
but that during the last twelve mouths not a single passenger, tra-
velling by the railway, had met With any accident whatever, In
congratulating the Proprietors upon the state of their affairs, which
permitted them to receive, at this periodical declaraion, an increase
in the amount of their dividend, namely, 4/. 154., per share on the
100/. shares, he begged to say that this was a dividend arising from
the best working half of the year, and it would not be'fair to raise
undue expectations by inferring the same result upon the next half-
year's working.

The SECRETARY then read the half-yearly Report, from which it
appeared that the ordinary traffic of the railway has exceeded that
of the corresponding half-ygar of 1840, by a sum of 23,982/. 7s. Bd.,
and that this increase extends over every head of receipt, but
principally the conveyance of merchandise and cattle. The net rent
of the Company's estate, in lands and houses, exceeds by 1,3921.
10s. ld., the rental of the corresponding half-year; the charge on the
traffic, including parish rates, taxes, and an allowance of 14,6431.,
for depreciation of the Company's carrying stock (exciudinginterest
on loans, is 8,873/. 16s. less than in the half-year ending December
,31st, 1840, notwithstanding an extension of the general business of
the railway, and the running of additional trains. The balance of
interest paid by the Company is also less by 6,886/. 6s. Id. The
aggregate increase of revenue, and decrease of expense, exhibited
a total of 41,134/. 19s. 10d. in favour of the half-year 1841. The
net profit of 227,8'244 Ils. 6d., added to the undivided residue of
the balance of 30th June, 4,117/. 4s. Od., gives an amount of
231,941/. 15s. 6sl. applicable to the dividend; and out Of this the
Directors recommended a dividend of 4/. 15s. upon each 100/.
share; I/ 3s. 9d. on each 25/. share; I/. 10s. 4 4-sd. on each 32/.
share ; and 15s. 4 4-sd. on the new 321. shares, amounting to
227,967/. 19s. 2d., and leaving a residue to the credit of the cur-
rent halff-year of 3 973/ 15s. 6d. „ . . _

The Report was then unanimously received aneadopted by the
Company, and ordered to be printed and circulated.
It was then agreed that power be given to the Directors to con-
clude an agreement for renting the Branch Line from Leamington
and Warwick to Coventry, when made at the rate of 51. per cent.
per annum on the estimated cost, not to exceed 130,000/., and
subject to an equal division of the excess of profit over and above
such rent, between the two Companies. It was stated by the
Chairman that two years would be the maximum term of the lease.
The following Directsors were then re-elected, :—J. B.
Boothby, Esq. ; Thomas Cooke, Esq.; Christopher H. Jones, Esq. ;
.1 F. Ledsam, Esq.; and Christopher Saltharshe, Esq.

The CIIAIRNIAN then stated that the dividend would be payable
on the 17th inst., and also informed the Proprietors that it was the
intention of the Directors to provide for the present want of ac.
comodation at the Euston.station, LondOn, by making very extcn.
sive alterations in those premises; in fact, to complete the station
in the way in which it was originally intended. He also stated in
answer to a Proprietor, that the local stations, particularly that at
Leighton Buzzard, were before the Board of Directors, with a view
of effecang their completeness.
A vote of thanks was then given to the Chairman and Directors.
after which the meeting separated.