The Dorset County Express and Agricultural Gazette.
Dorchester, Dorset, England, 1858-02-09 00:00:00

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LONDON AND SOUTH•WESTERN.

The directors of this company have just issued their
report. It states that the net revenue for the half-year,
after deducting interest on loans and all other preference
charges, amounts to £194,755. To this is added £875,
the surplus at June last, making £195,630. From this
sum the directors propose that • dividend shall be
declared for the half-year, payable on the 20th inst., at
the rate of 51 per cent, per annum, which on
£7,176,970 of paid-up capital amounts to £188,396,
leaving a balance of £7,234. There has been • decrease
in the gross revenue of the half-year of £42,296, as com-
pared with the corresponding period in 1856, and in the
net revenue of £38,870. There has been a decrease of
£2,317 in the working expenses, and of £1,109 in taxa-
tion. The decrease in the receipts for passengers
amounted to £32,148, for good', to £10,687, as compared
with the corresponding period. The above decrease has
arisen chiefly from the exceptionable character of the
traffic in the year 1866, in consequence of events con-
nected with the Russian war. In preparation for the
working of the Salisbury and Yeovil line, a portion of
which it is expected may be opened for traffic during
the present year, and also for the working of the Lym-
ington branch, a number of new engines and carriages
are in course of construction, on account of which
£16,084 have been expended and carried to capital
account. Three new engines have been completed out
of revenue and added to the stock during the half-
year. The doubling of the first portion of the
Southampton and Dorchester line has been completed,
and was opened for traffic in October last. The
Board of Trade have sines called upon the com-
pany to double the remaining portions of the
line between Beaulieu-road and Brockenhurst, and
Christchurch-road and Ringwood, a distance of about
11 miles, and the work is now in progress. When
finished there will be • complete double line, 36 miles
in length, from Southampton to Wimborne. These
works have hitherto been carried out, and are still in
progress, under the management of the company's resi-
dent engineer, by which there is • considerable saving in
expense, and a more efficient execution of the work is
secured. The charges carried to capital amount in the
way and works department amount to £9,065, for the
past half-year. The sum is made up by the omit of
erecting a number of cottages, which were abeolutely
requisite for the accommodation of the servants and
workmen of the company at the various stations on the
line, and by the erection of several new station houses
and buildings, • new engine-shed at Weymouth, and
additions to sidings and platforms for the better accom-
modation of the traffic. The cottages are all let at rents
which afford a remunerative return on the capital ex-
pended on them. Among the projects for new railways
In the South-Western district they notice the intended
construction of a railway along the line of toe Andover
canal, from Andover, by the Valley of the Test, through
Rotnsey, to the head of the Southampton Water at Red-
bridge. As now projected it can add little or nothing to
the public convenience, and must prove utterly unremu-
nerative to its proprietors and injurious to the company.
The directors cannot doubt that, if sanctioned by Par-
liament, this scheme would at no distant day form the
nucleus of a larger and more direct aggression of the
company's district; and, looking as well to the intrinsio
justice of the case as to the successful result of the com-
pany's opposition to the Salisbury and Southampton line
of last year, and the unequivocal declaration of Parlia-
ment on that occasion against any reduplication of the
railway accommodation of that district, the directors re-
commend that the company should not fail to appeal to
Parliament for protection against this moat unnecessary
project.
Mr. Brrington, the company's consulting engineer,
states that more than 60 miles of the line remain still in
use, after from 18 to 20 years' service; and so good has
been the quality of the iron and the system of the road
that 25 miles out of the 60 have been in use upwards of
20 years, and a considerable portion will be efficient for
several years to conic. From the careful supervision
exercised, he is satisfied that the line is uniformly kept
up in a proper state for the requirements of the Mafia.
The report, of Mr. J. Beattie, the locomotive superin-
tendent, states that the cost of maintaining and working
the stock of locomotive engines and tenders during the
past half-year has been £55,568, and the train mileage
£1,549,232, giving 8-61 d. as the rate per train mile for
the working expenses of the locomotive department;
this figure includes the amount expended in the con-
struction of three powerful goods engines and tenders,
which will take the places of a similar number when
they are unfit for further service. The expenditure in
the carriage department for maintaining and upholding
the carriage and wagon stock has been £10,624, or 1-64&
per train mile. The expenses of both departments
amount to £66,192, or 10-255. per train mile, as tom-
pared with £66,652, or 10-69 d. per train mile of the cor-
responding period of last year. The locomotive engines
and tenders are in efficient condition, and the stock of
carriages and wagons has been maintained in good work-
ing order, several alterations and improvements having
been made therein. The capital account showed that
£9,506,225 had been received, including £2,502,036 on
loan, and £9,603,406 expended, leaving • balance
against the company of £87,181. The revenue account
for the half-year ending the 31st of December last
showed that £445,860 had been received and £193,575,
or 44-61 per cent., expended, including £21,840 for
Government duty, rates, and taxes, leaving the balance
of net revenue £252,285.