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EAST LONDON-EAST NORFOLK-EAST SOMERSET.

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for debenture certificates to be issued in the meantime, will be for four years, and will bear interest at 8 per cent. per annum until redeemed or converted; but will be redeemable by the company at par at any time after December 31st, 1872, on giving one month's notice, unless the holders desire to convert them into 6 per cent. perpetual debenture stock. Interest will be payable quarterly, and a sufficient sum to provide for its payment to December 31st, 1872, will be invested in the names of trustees; after that time, the line being open to Shadwell, there appears to be no doubt that the revenue will be ample to meet the interest. No allotment will be made unless the whole amount is subscribed. The first payment not to be required before 1st October.

CAPITAL.-The receipts and expenditure on this account to 30th June, 1870, have been as follow:

Received.

Expended.

Shares and stock ........................£1,310,582 On line in course of con

Loans ......

Rents of property.

137,700
3,562

Sale of surplus property

9,691

£1,461,536

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.£1,494,099

£1,494,099

No. of Directors-12; minimum, 6; quorum, 3. Qualification, 50 shares of 201. each.

DIRECTORS:

Chairman-WILLIAM HAWES, Esq., 17, Montague Place, Russel Square, W.C.

James Childs, Esq., Summerfield, Putney
Park Lane, Roehampton, S. W.

Peter Grahain, Esq., 2, Palace Green,
Kensington, W.

Alfred Smee, Esq., F.R.S., Finsbury
Circus, E.C.

Lawford Ackland, Esq., Langdown Lawn,
Hythe, Southamptou.
Major-General J. S. Brownrigg, C.B., 91,
Victoria Street, Westminster, S.W.
John Sale Barker, Esq., 11, Palace Gar-
dens Terrace, Kensington, W.
OFFICERS.-Sec., G. E. Cooper; Eng., John Hawkshaw, CE.; Auditors, H. M.
Brownrigg and H. H. Stansfeld; Solicitors, Wilson, Bristows, and Carpmael, 1,
Copthall Buildings; Surveyor and Valuer, E. N. Clifton; Bankers, The London and
Westminster Bank.

Offices-3, Great Winchester Street Buildings, E.C.

106.-EAST NORFOLK.

Incorporated by 27 and 28 Vic., cap. 122 (23rd June, 1864), to construct a line from the Great Eastern, near Norwich, to the town of Walsham. Length, 14 miles. Capital, 88.0007. in 10. shures, and 29,300l. on loan. Arrangements with Great Eastern, which subscribes 29,3007.

By 32 and 33 Vic., cap. 29 (12th July, 1869), the period for completion of works was extended till 1872. The company was also authorised to create and issue debenture stock.

No. of Directors-9; quorum, 3. Qualification, 5007.

DIRECTORS:

Chairman-The Right Hon. LORD SUFFIELD, Gunton Hall, Norfolk. Deputy-Chairman-LIGHTLY SIMPSON, Esq., 50, Gower St., Bedford Square, W.C.

Sir Jacob H. Preston, Bart.
Robert Blake Humfrey, Esq.
Robert Chamberlin, Esq.
Lieut.-Col. Makins.

G. Wodehouse Currie, Esq.
Charles Henry Parkes, Esq.
Richard Young, Esq.

OFFICERS.-Sec., J. Hadfield; Eng., Edward Wilson: Solicitors, W. H. Shaw and J. O. Taylor and Son; Auditors, R. S. Baker and F. Waddy.

107.-EAST SOMERSET.

Incorporated by 19 and 20 Vic., cap. 16 (5th June, 1856), to make a railway from the Wilts Somerset and Weymouth, near Frome, to Shepton Mallet. Broad gauge. Capital, 75,000; loans, 25,000. Agreements with Great Western, which works the line. Length, 9 miles. Opened 9th November, 1858.

By 20 and 21 Vic., cap. 165 (27th July, 1857), an extension to Wells was authorised, the new capital consisting of 40,000. in shares; 13,000l. on loan. Length, 5 miles 2 chains.

By 23 Vic., cap. 73 (14th June, 1860), certain deviations were authorised, and the line originally contemplated to Wells was allowed to be abandoned. The deviated extension (5 miles) was opened on 1st March, 1862. By the same Act the company was authorised to cancel and re-issue forfeited shares, as well as to raise additional capital to the extent of 65,000l., making the total share capital, 135,000l. New shares may be issued at 5 per cent. preference. The borrowing powers were extended to 38,000l. Agreements with Great Western, under usual restrictions, as to maintenance, working, &c.

REVENUE. The gross earnings for the six months ended December 31st, 1869, amounted to 4,206, and after paying the fixed sum of 1,0321., applicable for interest on debenture debt and rent-charges, there remained 1,9047., or 60 per cent., for the Great Western, and 1,269., or 40 per cent., to the company. Dividend was declared on the preference shares at the rate of 4 per cent., for the half-year, free of incometax.

The receipts for the half-year ended June 30th, 1870, were only 157. in excess of the amount for the corresponding period of the previous year. The gross earnings amounted to 3,868., when, after paying the fixed sum of 1,032, applicable for interest on debenture debt and rent-charges, there remained 1,7017., or 60 per cent. of the balance for the Great Western, and 1,1347, or 40 per cent., to the East Somerset. Dividend was declared on the preference shares at the rate of 4 per cent. for the six months ended 30th June, free of income-tax.

CAPITAL. This account showed a receipt of 160,0217., of which 19% remained unexpended.

Meetings in February or March, and August or September, in London or Shepton Mallet.

No. of Directors-8; minimum, 3; quorum, 3. Qualification, 3001.

DIRECTORS:

Chairman-The MARQUIS OF BATH, Longleat, Wilts, and 48, Berkeley Square, W. Deputy-Chairman-*JAMES CURTIS SOMERVILLE, Esq., Dinder House,

near Wells.

Edward Charles Chetham Strode, Esq.,
Southill, near Shepton Mallet.
Edmund Hugh Clerk, Esq., Burford House,
near Shepton Mallet.

Mr. Thomas Somerton Foxwell, Shepton
Mallet.

Richard Horner Paget, Esq., M.P., 2,
Halkin Street West, and Cranmore
Hall, near Shepton Mallet.

*Mr. William Chester Berryman, Wells.
Mr. John Gifford Everett, Wells.

Retire by rotation, but are eligible for re-election.

OFFICERS. Sec., George Mackenzie Mackay, Shepton Mallet; Auditors, William Clarke, Shepton Mallet, and John Willmott, Wells; Solicitors, Cope, Rose, and Pearson, 26, Great George Street, Westminster, S. W., and George Mackenzie Mackay, Shepton Mallet.

Offices-Shepton Mallet.

108.-EASTON AND CHURCH HOPE.

Incorporated by 30 and 31 Vic., cap. 167 (25th July, 1867), to construct a railway from Easton, in the Isle of Portland, to Church Hope Cove, with a pier in connection therewith. Length, 13 mile. Capital, 30,0007. in 201. shares, and 10,000%. on loan, which may be converted into debenture stock. Either broad or narrow gauge. Works not commenced.

CAPITAL-Of the 30,000%. created no part has yet been issued or received.

No. of Directors-5; minimum, 3; quorum, 3 and 2. Qualification, 2001, in shares. DIRECTORS:

Robert Amadeus Heath, Esq., 31, Old |

Jewry, E.C.

Lachlan Mackintosh Rate, Esq.
Walter Amos Michael, Esq.

Secretary, Henry Green.

Office-60, Threadneedle Street, E.C.

EDINBURGH AND BATHGATE—EDINBURGH, loanhead, ETC.

109.-EDINBURGH AND BATHGATE.

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Incorporated by 10 Vic., cap. 332 (3rd August, 1846), amended by subsequent Acts, for a line from the Edinburgh and Glasgow, near Ratho Station, to Bathgate. pleted and open, 11 miles; in abeyance, 12 miles. This railway was leased to the Edinburgh and Glasgow for 999 years, at 4 per cent., and one-half surplus profits in addition; working charges to be estimated at 33 per cent. on gross receipts.

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It was reported in August that the bill for sanctioning the agreement with the North British had obtained the royal assent, and the directors had great reason to congratulate the shareholders on the favourble position of the company. dividend was declared for the half-year ending 31st July, at the rate of 5 per cent. or 9s. per share, with 5 per cent. on sums paid in anticipation of calls, all without deduction of income-tax, leaving a balance of 3701.

DIRECTORS:

Chairman-ROBERT HUTCHISON, Esq., of Carlourie. Thomas Hill, Esq., of Merrylee, Glasgow. | John Walker, Esq., W.S., 2, Queen Street, John Fulton, Esq., Brewer, Edinburgh. Edinburgh.

George F. Barbour, Esq., of Bonskeid, 11,
George Square, Edinburgh.

All eligible for re-election.

OFFICERS.-Sec., Alexander Jamieson, C.A.: Auditors, William Moncrieff, C.A., and William Wood, C.A., Edinburgh; Solicitor, William Waddell, W.S. Offices-8, South Charlotte Street, Edinburgh.

110.-EDINBURGH, LOANHEAD, AND ROSLIN.

Incorporated by 33 and 34 Vic., cap. 46 (20th June, 1870), to construct a line from the North British, near Millerhill station, to Lasswade. Length, 6 miles. Capital, 48,000l. in 10. shares, preferred and deferred, with 16,0001. on loan, or by debenture stock. Arrangements with North British.

No. of Directors-5; minimum, 3; quorum, 3 and 2. Qualification, 1007.

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Incorporated by 29 and 30 Vic., cap. 316 (6th August, 1866), to construct a railway from Canterbury to Hythe, with branches to the Chatham and Dover and South Eastern. Length, 19 miles. Capital, 300,000. in 107. shares, and 100,0007. on loan. Arrangements with South Eastern and London Chatham and Dover.

No. of Directors-5; quorum, 3. Qualification, 5001.
DIRECTORS:

William Alexander Mackinnon, Jun., Esq.,
Acres Park, Kent.
Major Alexander George Dickson, M.P.
Waldershaw Park, Kent, and Army and
Navy Club, S.W.

Joseph Cary, Esq., 49, Pall Mall, S.W.

Robert John Biron, Esq., Recorder of
Hythe, 2, Dr. Johnson's Buildings,
Temple, E.C.

Thomas Knox Holmes, Esq., 18, Abingdon
Street, S.W.

OFFICERS.-Sec., E. Bannister Callow; Eng., J. H. Tolmé, 1, Victoria Street, Westminster, 8.W.: Solicitors, Messrs. Burchells, 5, Broad Sanctuary, Westminster, S.W.; Bankers, Glyn, Mills, Currie, and Co., Lombard Street, and National Provincial Bank of England, Folkestone.

Offices

112.-ELY, HADDENHAM, AND SUTTON.

Incorporated by 27 and 28 Vic., cap. 86 (23rd June, 1864), to construct a line from Ely, through Haddenham, to Sutton. Length, 6 miles. Capital, 36,0007. in 107. shares, and 12,000%. on loan. Arrangements with Great Eastern which subscribed 12,0007., and works the line.

REVENUE-The net receipts for the half-year ending 31st December were 421%. Dividend at the rate of 25s. per cent. left a balance of 1967.

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Meetings in February or March, and in August or September.

No. of Directors-5; minimum, 3; quorum, 3 and 2. Qualification, 2501.

DIRECTORS:

Chairman-OLIVER CLAUDE PELL, Esq., Manor House, Wilburton. Frederick Camps, Esq., Haddenham, Ely. | J. S. Valentine, Esq., 11, Park Street, Westminster, S.W.

OFFICERS.-Sec., T. P. Bond, 2, Dartmouth Street, Great Queen Street, Westminster, S.W.; Eng., J. S. Valentine, 11, Park Street, Westminster, S.W.; Solicitor, James Wheeler, 4, Victoria Street, Westminster, S.W.

113.-ELY VALLEY.

Incorporated by 20 and 21 Vic., cap. 41 (13th July, 1857), to construct a line from the Llantrissant station of the South Wales to Penrhiwfer, Glamorganshire, with branches to Glanmychydd and Mynydd Gellyrhaidd. Capital, 70,000 in 107. shares,

and 23,000l. on loan. Length, 8 miles; broad gauge.

By 21 Vic., cap. 30 (14th June, 1858), the company is authorised to construct a branch to Mwyndy; length, 2 miles. New capital, 13,0007, in shares, and 4,3007. by loan. The steepest gradient is 1 to 121. Completion of works, three years.

Agreement for lease to the Great Western for 999 years, confirmed by 25 Vic.. cap. 196 (29th July, 1862), came into operation as from 1st January, 1861. The Great Western hold 85,0007. of Ely Valley stock, and pay Ely Valley a rent of 4,000l., which pays 51. per cent. on Ely Valley stock and debenture debt.

Half-yearly meetings in February and August, or such other months as the directors may appoint.

No. of Directors-9; minimum, 4; quorum, 3. Qualification, fifty 101. shares.

DIRECTORS:

Chairman-JOHN SAMUEL GIBBON, Esq., Newton House, Glamorganshire. Henry Lewis, Esq., Green Meadow, | Major Vaughan H. Lee, Lanelay, GlaGlamorganshire. morganshire. Richard Bassett, Esq., Bonvilstone, George C. Williams, Esq., Llanrumney Glamorganshire. Hall, near Cardiff.

Solicitor, Richard Wyndham Williams, Cardiff.

114.-ENNISKILLEN, BUNDORAN, AND SLIGO.

Incorporated by 24 and 25 Vic., cap. 138 (11th July, 1861), to construct a line from the Londonderry and Enniskillen, near Lowtherstown, to Bundoran. County Donegal. Length, 36 miles. Capital, 200,000l. in 10. shares; loans, 66,6001. Arrangements with Irish North Western.

By 25 and 26 Vic., cap. 114 (30th June, 1862), the company was authorised to extend the line to the Midland Great Western, at Sligo (23 miles), and to raise capital to the extent of 150,0007. in shares, and 50,000l. on loan.

By 28 Vic., cap. 113 (19th June, 1865), the company was authorised to raise new capital to the extent of 100,000Z. in preference shares, at not exceeding 5 per cent. for the first ten years, and 5 per cent. in perpetuity thereafter. Also to raise 33,3001, on loan. An extension of time for three years was conceded to the Sligo Extension.

By 32 and 33 Vic., cap. 29 (24th June, 1869), the company was authorised to effect an arrangement with respect to its mortgage and other debts. Arrears of interest to 1st January, 1869, were extinguished; 10,000l. of 5 per cent, debenture stock created as a first charge on the undertaking; interest at 4 per cent. on 66,0001. of debentures to be raised; interest at 4 per cent. on 23,000% to be third; and creditor's stock, in lieu of Lloyd's bonds, at 3 per cent., to be fourth in priority of preference stocks or shares. Meetings in April and October.

No. of Directors-9; minimum, 6; quorum, 3. Qualification, 1,000%.

ESK VALLEY-EXETER AND CREDITON.

DIRECTORS:

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Chairman-THOMAS CONOLLY, Esq., M.P., Cliff, County Donegal, and Langham Hotel, Portland Place, W.

Deputy-Chairman-DAVID Mc. BIRNEY, Esq., J.P., Aston's Quay, Dublin.

Henry M. Darcy Irvine, Esq., Castle | Thomas Bailey, Esq., J.P., Herbert Place, Irvine, County Fermanagh.

John C. Bloomfield, Esq., D.L., Castle-
caldwell, County Fermanagh.
Rev. George N. Tredennick, Kildoney,
Ballyshannon.

John Taylor, Esq., Warwick Crescent, W.

Dublin,

James Peebles, Esq, LL.D., Eccles Street,
Dublin.

Major F. D'Arcy, Prospect House, Ennis-
killen.

OFFICERS.-Sec., James H. Connell; Eng., Geo. W. Hemans; Solicitors, John Collum and Son, and James Brend Batten, Solicitor in London; Auditors, Allan Taylor and James B. Kennedy.

Offices-Talbot Street, Dublin.

115.-ESK VALLEY.

Incorporated by 26 and 27 Vic., cap. 195 (21st July, 1863), to construct a line from the Hawick branch of the North British, at Eskbank station, to Springfield. Length, 2 miles. Capital, 27,000. in 107. shares, and 9,000, on loan. Arrangements with North British, which by 29 and 30 Vic., cap. 200 (16th July, 1866), leases the line on the following conditions:-1. The North British pay 1,350. yearly rent, being 5 per cent. on the share capital, commencing the first half-year's payment of 6751. six months after the date of the line being opened for public traffic.-2. The North British pays in addition the interest on so much of the loan capital, not exceeding 9,0007., as it may be found necessary to raise for the purpose of completing the undertaking; or in the option of the North British, the money required to be raised on mortgage shall be raised by the North British, who shall pay all expenses thereof, and of renewals of such mortgages.-3. The North British shall pay all public and parish burdens, including poor-rates, prison assessments, and taxes generally, that may be charged against the Esk Valley, or in respect of the line and works, and also the Government duty on passengers.-4. From and after the commencement of the lease, the Esk Valley and works and conveniences thereof shall be maintained in an efficient working condition by the North British in all time coming. The line was opened on 15th April, 1866, when the North British entered into possession of perpetual lease. The line is not amalgamated with the North British, but simply leased at a fixed rent in the same way as the Peebles.

It is now proposed to amalgamate with the North British, by issue of a preference stock at 4 per cent., with a lien on the property.

Meetings in March or April, and August or September.

No. of Directors-5; minimum 4; quorum, 3. Qualification, 2001.

DIRECTORS:

Chairman-ARCHIBALD FULLERTON SOMERVILLE, Esq., Kevock, Lasswade. James Hunter Annandale, Esq., Polton, | William Tod, Esq., Glenesk House, Lasswade.

Lasswade.

Henry Widnell, Esq., St. Ann's, Lasswade. James Cowan, Esq., Paper Maker,

Edinburgh.

Secretary, William White Millar.

Offices-8, Bank Street, Edinburgh.

116.-EXETER AND CREDITON.

Incorporated by 8 and 9 Vic., cap. 88 (1st July, 1845), for the construction of a line from the Cowley Bridge station of the Bristol and Exeter, and terminating by a junction with the North Devon, at Crediton. Length, 54 miles. Worked under lease by the South Western.

The dividend declared in February, 1870, was at the rate of 5 per cent., and in August, 44 per cent. per annum.

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