The Dorset County Express and Agricultural Gazette.
Dorchester, Dorset, England, 1860-02-21 00:00:00

BRISTOL AND EXETER.

The director of this coineany intend to propose a
dividend for the half-year ending the 114 of Deftiuber
last at the rate of b per Lent. per annum, which. with
the dividend for tin hr.& half, ending the 30th of June
hod, at the rate of 54 per cent. per annum, makes the
dividend rki i,o• cent. for the year 1859 on the consoli-
dated 'dock of the company.

I Tile report of the directors of this company states
Ithat the conaolllated stook of the company amounted to
£2022,460, the 4 per cent. preference stock to
V. 167,410, and the debenture, to £929,250 ; total,
£1,919,120. The amount received on account of the 4
per cent. iwrpetual preference stack during the half-
I year was £121.742. A large pniportion of this amount
, was applied to the diacharee of debentures due in the
th of December last. The increase of £30.1.100 in the
debenture debt was owing to very advaiotageoua
tenders of money at the clove of the half-year, but for
which it would have shown a very considerable deer. a-v.
The preference stock alhotted during the half-year hail
been baued at a Maimunt of £2,356. the wtoole of which
sum had been charged /ignited revenue. The directors
, retain the opinion that, although the eatended issue of
that stock may fur a time increase the charge ag tinst
revenue, the ultimate saving will be I onsiolerable. The
whole of the deliesitures bearing inkiest at 5 and 4:4; per
t cent. had lwen pail oft during the half-year, and a
, reduction of £00,1.160 had been made in those bearing
interest at 4i per cent. Of the total amount raised
£ltis,Ml4 remained unexpended. The average rate of
I intereat on the debenture debt was 422 per cent., whir
the average rate in the total preferential charge on the
undertaking was further reduced to 4*lo per cent. The
t sum of £22,688 had been expended on capital account
during the half-year. The growl revenue derived from
all sources. including the Exeter and Credition and
[Somerset Central Railways, from the let of July to the
31st of December laid, ainountasl to £196.104, and for
the corresponding period of 1858 to £.179,244, showing
an increase of £1C,860. The working expenses amounted
tom £89,344, against £79,103, showing an increase of
i £10,240, and in the net balance an increase of £6,619.
The working expenses were 4556 per cent, of the gross
revenue, or £6t2 per mile on 13.1 miles of railway
worked. The receipts averaged 99'63d. per train mile,
and the expenses 45.854. per train mile. The balance
of revenue account, including 0,443 brought from the
previous half-year, was £74.251, out of which the
directors recommended a dividend at the rate of C per
Gent. per annum for the half-year ending the 31st of
December bud, carrying forward a balance of £13.577.
The dividend paid on the ordinary stock in the year 1835
was 4i pwr cent. ; in 1856, 4i per cent. ; in 1857 and
1858, fo per cent.; and in 1859, at the rate of 51 per
I cent. Tim directors state that in their negotiation for
I the conduct and interchange .tf traffic they had been
I met by the South-Western board in the most liberal
I and friendly spirit. The capital account to the 314 of
December teat showed that £3,919,120 had been received,
and £3,E2. 349 expended on the railway works, &c.,
and £350,066 in the shares of other companies, leaving
a balance of £165,804. The revenue account for the
half-year showed that £196,103 had been received and
£811,344 expended, leaving • balance of £106,760.