CAPITAL. The receipts and expenditure on this account to 30th June, 1870, were detailed as follow: The accounts are made up to 30th June and 31st December. Meetings in February and August. Dividends paid 15th March and 15th September in each year. No. of Directors-6; quorum, 3. Qualification, 25 shares. DIRECTORS: Chairman-EDWARD HENRY BURNELL, Esq., 32, Bedford Row, W.C. Deputy-Chairman-Captain BULKELEY, Clewer Lodge, Windsor. Arthur S. Davey, Esq., Old Barge House, Henry Browse, Esq., Upper Tooting, Blackfriars, S. Surrey. OFFICERS.-Sec., Charles Eley, 5, Westminster Chambers, Victoria Street, Westminster, S. W.; Solicitors, Messrs. Wyatt and Hoskins, 28, Parliament Street, Westminster, S.W.; Auditors, William Moates, Public Accountant, 28, Moorgate Street, E.C., and Jason Gurney, Percy House, Hounslow, W. Offices-5, Westminster Chambers, Victoria Street, Westminster, S.W. 138.-GREENOCK AND AYRSHIRE. Incorporated by 28 and 29 Vic., cap. 301 (July 5th, 1865), for making a railway from Greenock, by Bridge of Weir, to Howood, with a junction with Glasgow and South Western company's line at both those places. The capital is 350,000l., in 107. shares, and 116,6001. in loans. Length, 15 miles. The G'asgow and South Western contribute 300,000, and have entered into an agreement to work the line in perpetuity, which is confirmed by the Act. 11 miles opened for mineral traffic on 1st September, 1869, and for goods traffic in October. Passenger traffic commenced on 23rd December, 1869. By 31 and 32 Vic., cap. 136 (13th July, 1868), the company obtained power to construct three short and local lines, about 1 mile in length in all, and also a new street in Greenock. New capital, 150,000l. in shares, and 50,0007. on mortgage, as well as to create and issue debenture stock. By 32 and 33 Vic., cap. 48 (24th June, 1869), the Glasgow and South Western was authorised to guarantee 5 per cent. on the share capital of the Greenock and Ayrshire, to the extent of 150,000l., as authorised by Act of 1868. REVENUE. The receipts for the half-year ending 31st January were 3,6251., and the working expenses 1,3197. The 4 preference absorbed 5387., and left 474, to next halfyear. The receipts during the half-year ending 31st July amounted to 13,583, and the expenses to 5,5231., leaving a balance of 8,0601. To this was added 4757, the balance from the preceding half-year, making 8,535. From this was deducted 2,9811. for interest on debentures and loans, and 1,8417. for dividend on the 4 per cent. preference stock, leaving 3,712. available for dividend on the ordinary shares at the rate of 2 per cent. per annum, carrying forward 2121. to next half-year. CAPITAL.-The receipts and expenditure on which have been as follow: The estimate of further expenditure extends to 63,8951., to meet which the available assets are stated at 106,3901. The remaining portion of the 4 per cent. preference stock, amounting to 43,3321., has since been issued, and the share capital is now fully paid up. and the amount of the debenture debt will be regulated by the sums required from time to time to meet payments on capital account. No. of Directors-10; quorum, 3. Qualification, 5001. GREENOCK AND WEMYSS BAY. DIRECTORS: Chairman-PETER CLOUSTON, Esq., 1, Park Terrace, Glasgow. Deputy-Chairman-Sir ANDREW ORR, of Harviestoun and Castle Campbell. Robert Barclay, Esq., 21, Park Terrace, | John Kerr, Esq., Greenock. Glasgow. Archibald Finnie, Esq., of Springhill, Kil- David Johnstone, Esq., Belleaire, Greenock. 125 James Rodger, Esq., 1, Claremont Gardens, Esq., 7, Park John Fleming, Esq., Merchant, Greenock. OFFICERS.-Sec., W. J. Wainwright; Engs., Forman and Mc.Call, Glasgow; Auditors, David Stevenson, Glasgow, and James Welsh, Greenock; Solicitors, Mathew Anderson, Glasgow, and Thomas King, Greenock; Bankers, Union Bank of Scotland. Offices-14, Bridge Street, Glasgow. 139.-GREENOCK AND WEMYSS BAY. Incorporated by 25 and 26 Vic., cap. 160 (17th July, 1862), to construct a line from the Greenock branch of the Caledonian at Port Glasgow to Wemyss Bay. Length, 9 miles. Capital, 120 0007, in 107. shares; loans. 40,000. Arrangements with Caledonian, which subscribes 30,000. Opened 15th May, 1865. By 26 Vic.. cap. 47 (8th June, 1863), the company was authorised to construct an extension (16 chains), and a pier in connection therewith. New capital, 30,000l. in shares, at 5 per cent. preference, and 10,000l. on loan. REVENUE.-The accounts for the half-year ending 31st January showed that the goods and mineral traffic had increased from 1,842. to 2,7271, while the passenger traffic, including pier dues, telegraph receipts, rents, and mails, &c., had decreased from 3,4567, to 3,3491., making the increase of revenue 7781. No appropriation of revenue had been made in the half year's accounts to the Caledonian, in consequence of the whole receipts being exhausted in the payment of interest on debts and necessary expenses, and the allocations made, as the directors believe, erroneously in former half-years, amounting in ali to 2,498., and debited to revenue, were written back as shown in the accounts. By the July statement it appeared that the goods and mineral traffic had increased from 2,0471. to 2,605.. while the passenger traffic had increased from 3,8191. to 5,022., making the total revenue for the half-year 7,628., and the increase 1,7601. The directors thought it right to set apart 500l. to meet the expense of renewing the line. They regretted that although they had been able to reduce the amount at debit of revenue account by 3011., they were unable as yet to appropriate any sum as dividend, but they hoped that by obtaining reasonable modifications of the agreement with the Caledonian, and by the continued increase of traffic, the company might ere long be placed in a considerably improved position. CAPITAL.-The expenditure to 31st July, 1870, amounted to 193,4267., the receipts having been as under: Shares and stock £120,310 35,086 Balance £155,396 38,029 £193,426 Meetings in February or March and in August or September. Accounts to 31st July and 31st January. No. of Directors-5; minimum, 3; quorum, 2. Qualification, 500Z. DIRECTORS: Chairman-JAMES LAMONT, Esq., of Knockdow. Deputy-Chairman-JAMES STEWART, Esq., of Garvocks. Colonel David Carrick Robert Carrick Michael James Jamieson, Esq., of ArngoBuchanan, of Drumpellier, Coatbridge. Alexander Ronaldson, Esq., 7, Park Ter race, Glasgow. mery. OFFICERS.-Sec., James Keyden; Eng.. Mortimer Evans, C.E., Glasgow; Solicitors, Keydens, Strang, and Girvan, Glasgow; Auditors, Walter Mackenzie and George Miller, C.A., Glasgow. Offices-186, West George Street, Glasgow. 140.-HADDENHAM. WILLINGHAM, AND LONG STANTON. Incorporated by 32 and 33 Vic,, cap. 146 (26th July, 1869), to construct a railway from the Ely, Haddenham, and Sutton, at Haddenham, to the Great Eastern at Long Stanton. Length, 6 miles. Capital, 40,000l. in 107, shares, and 13,333. on loan. Shares may be divided into preferred and deferred, and loans converted into stock. No. of Directors-8; minimum, 3; quorum, 3 and 2. Qualification, 2001. DIRECTORS: Albert Pell, Esq., M.P., Clarges Street, W. | Frederick Camps, Esq., Haddenham, Ely⚫ 141.-HALESOWEN AND BROMSGROVE. Incorporated by 28 and 29 Vic, cap. 333 (5th July. 1865), to construct several short lines in the county of Worcester, connecting the Midland and the West Midland section of the Great Western. Length, 7 miles. Capita', 120.000l. in 12,000 107, shares, and 40,000l. on mortgage. Arrangements with Midland and Great Western. By 29 and 30 Vic., cap. 317 (6th August, 1866), the company was authorised to construct two small branches in the county of Worcester. Length, 31 miles. New capital, 48,0001. in shares, and 16,000, on loan. By 33 and 34 Vic., cap. 150 (1st August, 1870), the company was authorised to abandon one of the lines sanctioned in 1866, and an extension of time for completion of the remainder till 1873. Capital reduced to 27,0007. in shares instead of 48,000., and on loans from 16,000l. to 9,0002. No. of Directors-6; minimum, 3; quorum, 3. Qualification, 5001, DIRECTORS: The Right Hon. Lord Lyttelton, Hagley | Edward Gem, Esq., Messrs. Edward Gem Thomas Eyre Foakes, Esq., 4, New Square, John Corbett, Esq., Stoke Salt Works, and Co., Birmingham. Robert Wood Marsland, Esq., Blackheath. OFFICERS.-Sec., George W. Harris; Auditors, J. Waddell and Co., Accountants, New Poultry Chambers, 7, Poultry, E C.; Solic tors, Wilkins, Blyth, and Marsland, 10, St. Swithin's Lane, E.C., and Scott and Horton, Bromsgrove: Surveyors, Jeremiah Matthews and Sons, Birmingham, and W. Rogers Penn, Bromsgrove. Offices-6, Westminster Chambers, S. W. 142.-HALIFAX AND OVENDEN. Incorporated by 27 and 28 Vic., cap. 143 (30th June, 1864), to construct a line from Lancashire aud Yorkshire, Halifax, to Ovenden. Length, 2 miles. Capital, 90 0004. in 101, shares, and 30,0001, on loan. Arrangements with Great Northern and Lancashire and Yorkshire, which each subscribe 30,000l. Works in progress. By 30 and 31 Vic., cap. 178 (12th August, 1867), the company was authorised to make several variations in the line, and to increase the capital by 90,000 in shares and 30,000l. on loan. The Great Northern and the Lancashire and Yorkshire may each subscribe 30,000l. to this new capital. By 33 and 34 Vic., cap. 141 (1st August, 1870), an extension of time for completion of works was obtained till 1st July, 1873. By the same Act the undertaking is vested in the Lancashire and Yorkshire and the Great Northern, the two companies having the option to pay off the shareholders at car at any time previous to 1st January, 1873, either in cash or debenture stock at 4 per cent. No. of Directors-8; 4 each by the Great Northern and Lancashire and Yorkshire; quorum, 3. Qualification, 1,000. JOINT COMMITTEE: Samuel Fielden, Esq." Todmorden. Representing Great Northern. Samuel Waterhouse, Esq., M.P., Hope George Walker, Esq., Osgathorpe Sheffield. OFFICERS.-Sec., C. N. Wilkinson, Halifax; Eng., John Fraser, Leeds; Solicitors, Wavell, Philbrick, Foster, and Wavell, Offices-Halifax. HARBORNE HARROW, EDGWARE, ETC.—HATFIELD CHASE, ETC. 127 143.-HARBORNE. Incorporated by 29 and 30 Vic., cap. 101 (28th June, 1866), for constructing a line from the Birmingham Wolverhampton and Stour Valley section of the London and North Western, in Birmingham, to the town of Harborne, in Staffordshire. Length, 3 miles. Capital, 100,000 in 10l. shares, and 33,000l. on loan, with power to create and issue debenture stock. Arrangements with London and North Western. By 33 and 34 Vic.. cap. 148 (1st August, 1870), an extension of time till 1873 was obtained for completion of works. No. of Directors-5; minimum, 3; quorum, 2. Qualification, 30 shares. DIRECTORS: Thomas Eyre Foakes, Esq., 4, New Square, William Bailey Hawkins, Esq., 2, Suffolk James Hendrey, Esq., 78, Warwick Square, OFFICERS.-Sec., George W. Harris, 6, Westminster Chambers, S. W.; Eng., J. H. Tolmé, 1. Victoria Street, Westminster, S.W.; Solicitors, Wilkins, Blyth, and Marsland, 10, St. Swithin's Lane, E.C.; Surveyors, J. Matthews and Sons, Birmingham. Offices-6, Westminster Chambers, S. W. 144.-HARROW, EDGWARE, AND LONDON. Incorporated by 32 and 33 Vic., cap. 69 (July, 1889), to construct a line from the Edgware branch of the Great Northern, at Edgware, to Harrow-on-the-Hill. Length, 3 miles. Capital, 45,000l. in shares, 15,0007. on loan. No. of Directors-4; quorum, 3. Qualification, 2001. DIRECTORS: Chairman-JOHN CHAPMAN, Esq., Harrow-on-the-Hill. Thomas Charles Hudson, Esq., Harrow-| James Roast, Esq., Sudbury. on-the-Hill. Patrick John Connelly. Esq., Sudbury. OFFICERS.-Sec., James H. Chapman; Engs., John Fowler, Queen Square Place, Westminster, S.W., and A. G. Linn, 9, Westminster Chamber, S.W.; Solicitors, Hargrove, Fowler, and Blunt, 3, Victoria Street, Westminster, S.W. Offices-3, Victoria Street, Westminster, S. W. 145.-HATFIELD CHASE. Incorporated by 17 and 18 Vic., cap. 9 (1854), for the purpose of draining, working, and otherwise improving part of the level of Hatfield Chase. Authorised by 29 and 30 Vic., cap. 163 (16th July, 1866), to construct a railway from Haxey, on the Doncaster and Gainsborough branch of the Great Northern, to Owston, on the river Trent. Length, 33 miles. New capital, 44,000l. in shares, and 14,6007. on loan. Arrangen.ents with Great Northern and Manchester and Sheffield. 146.-HATFIELD AND ST. ALBANS. Incorporated by 25 and 26 Vic., cap. 86 (30th June, 1862), to construct a line from the Great Northern, at Hatfield, to the London and North Western, at St. Albans. Length, 6 miles. Capital, 70,000l. in 107. shares; loans, 23.0001. Arrangements with the Great Northern, which subscribed 20.0007., and works the line. Opened 1st November, 1865. Powers for raising additional capital, to the amount of 15,0.01. in shares, and 5,000l. in mortgages, have been granted by a Board of Trade certificate, in accordance with the Companies' Pov ers Act of 1864. Meetings in February and August. No. of Directors-7; minimum, 3; quorum, 3. Qualification, 3001. DIRECTORS: Chairman-LORD EBURY, Moor Park, Rickmansworth, and 35, Park Street, Grosvenor Square, W. Deputy-Chairman-JOSEPH CARY, Esq., 49, Pall Mall, S.W. The Hon. Reginald Algernon Capel, Little *Colonel the Hon. Octavius Duncombe, John Henry Dillon, Esq., K 5, the Albany, John Harvey Astell, Esq., Woodbury * Represent the Great Northern. OFFICERS.-Sec., Alexander Forbes; Eng., J. Pierce, 23. New Street, Spring Gardens, S.W.; Bankers, Smith, Payne, aud Smith, 1, Lombard Street, E.C. Offices-King's Cross Station, N. 147.-HEREFORD, HAY, AND BRECON. Incorporated by 22 and 23 Vic., cap. 84 (8th August, 1859), to construct a line from Brecon, through Hay, to the Shrewsbury and Hereford, at the latter town. Capital, 280,000l. in 20. shares; loans, 23,000l.; calls, 21. 108. Length, 34 miles. By 23 and 24 Vic., cap. 127 (3rd July. 1860), the company was authorised to relinquish the junction of the line with the Shrewsbury and Hereford, and in lieu thereof to form a communication with the Newport Abergavenny and Hereford Section of the West Midland, at Barton Station. By 23 and 24 Vic., cap. 179 (6th August, 1860), the Hay railway is vested in the Hereford Hay and Brecon, but parts of the line transferred to the MidWales Brecon and Merthyr Tydfil Junction, and a portion disused. The Hereford and Brecon allots to every Hay share of 1001, two Herefords of 201. each, and 21 88. as interest due, or 201. in cash, according to option of Hay shareholders. By 25 and 26 Vic., cap. 95 (30th June, 1862), various alterations of levels and deviations of the line were authorised; all to be completed by 6th August, 1864. In operation, 27 miles. By 26 Vic., cap. 9 (4th May, 1863), the company was authorised to raise new capital to the extent of 75,000l. in shares at 5 per cent., and 25.0007. on loan. By 28 and 29 Vic., cap. 324 (5th July, 1865), the Hereford Hay and Brecon was amalgamated with the Brecon and Merthyr, on a share capital not exceeding 355,000. By 32 and 33 Vic., cap. 111, the company was authorised to raise the sum of 22,000, by the issue of debenture stock, and also to convert their debentures into 51. per cent. irredeemable debenture stock, and for the appointment of two debenture directors. By the same Act running powers were granted to the company over a portion of the Mid-Wales and Brecon and Merthyr railways to Brecon. REVENUE.-The receipts for the half-year ending 31st December, 1869, amounted to 10,3841., and, after payment of working expenses and other charges, the bet balance was 3,640. It was also reported in February that the temporary agreement for the working of the line by the Mid-Wales terminated on September 30th, 1869, and since that date the railway had been worked by the Midland. The receiver in Chancery Had been discharged, and the funds of the company were being applied to the liquidation of debts. Nearly all the debentures had been converted into debenture stock. DIRECTORS: Chairman-S. E. BOLDEN, Esq., Lancaster. F. A. Fynney, Esq., Queen's Chambers, | G. A. Addison, Esq., 29, Lombard Street, Manchester. E.C. William Laurence Banks, Esq., F. S. A., Samuel Turnbull, Esq., Upton House, DEBENTURE DIRECTORS: Geo. Heginbottom, Esq., Birkdale Park, H. G. Aldridge, Esq., Bank of England, OFFICERS.-Sec., James Fraser, 7, Bank Buildings, Lothbury, E.C.; Solicitors, Tilleard, Son, Godden, and Holme, 34, Old Jewry, E.C. Offices-7, Bank Buildings, Lothbury, E.C. 148.-HEXHAM AND ALLENDALE. Incorporated by 28 Vic., cap. 87 (19th June, 1865), to construct lines:-No. 1 from the Newcastle and Carlisle, near Hexham, to Allendale Town, length, 13 miles; and No. 2, from Allendale Town to Allenheads; length, 7 miles. Capital in 107. shares for No. 1, 75,000l. and 25,000l. on loan. No. 2, 45,000 and 15,000. on loan. Total, 120,6001, and 40,000. on loan. The North Eastern subscribe 10,000, and by 29 Vic., cap 78 (11th June, 1866). they subscribe a further sum of 10.000l., and the Comptroller of the Greenwich Hospital Estate is registered as a shareholder for 10,000l. Opened to Langley, about 8 miles, for goods and cattle traffic, on 19th August, 1867. From Langley to Cattan Road, 44 miles, opened for goods and cattle traffic 13th January, 1863. Opened for passenger traffic on 1st March, 1869. In operation, 12 miles. The Board of Trade, by warrant dated 24th February, 1869, granted an unconditional extension of two years beyond the period stipulated by the Act, in which the compulsory powers of purchase of lands and the execution of works were to be exercised. REVENUE. The net receipts for the half-year ending 31st December, 1869. left a balance, including a surplus of 8541. from previous accounts, of 1,1997, which was carried to next account. The traffic details for the June half-year, as compared with that of 1869, were as follows:- |