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

nailinap intelligentt.

GREAT WESTERN.

The report of the directors of this company state,
that the revenue, steadily improving from almost every
source during the last half-year, enables the directors to
i recommend an increased dividend to the ordinary share-
-1 holders of the company. This improvement of income
I WAS the more mitisfactury. as not only derived from
' every branch of traffic, but as extending alike over all
Im,rtions of the Great Western eyelet°. While the lillell
south of Wolverhampton had contrihnted £55,588 wore
than in the corresponding period of 1858. the two Shrews.
bury itsilwaytt had added £10,720 of excess to the gene-
ral receipts. making together MI average weekly increase
of £2.57/0 for the bllllO length of railway. The loss
entailtd upon the company by the Shrewsbury Rad
ways, which amounted in the last six months of 1850 to
£15,202, had been now reshiced to .C 7,325 notwithstand-
ing that • charge of about £l,BOO had been incurred and
paid in the latter period for renewing • portion of the
joint line between Wellington and Shrewsbury.
The accounts which had been circulated showed fully
every item of expenditure, representing the working
charges. The directors proposed to the mutpany, as
the result of the accounts made up to the 314 of
December, 1859, to declare a dividend at the rate of 3i
per cent. per annum, on the consolidated stock of the
company, and on the Great Western Windsor shares,
payable on the lot proximo, carrying forward a balance
of £25,748 to the next account. The report goes on to
statte that, " It will be 'deserved, from the statements
printed with the accounts, that a saving if interest on
c.Pital has been commenced, by re.borrowing at lower
rates, WI well as by • reduction of interest from 8 to 6
I per cent. per annum on • portion of the Shrewsbury and
IBirmingham preference stock, which will hereafter save
shout k3.ituo per annum. The Metropolitan Railway,
after a protracted struggle for the means of obtaining
1 capital to carry it into effect, is now happily in a
i financial condition which will inhere its construction.
The whole capital of that companv has been subscribed
with the ai.l of a contribution from the City Curtsies-
Lion of 1:200,000 ; the contracts for the works have been
I satisfactorily taken, and the works commenced in seve-
ral places. The city authorities are also promoting •
large Meat Market in Smithfield, which is intended to
he connected with the Metropolitan Railway by • short
branch, adding munch to the ueefuluesa of the whole
undertaking, and affording to railway companies the
means of possessing a very convenient terminal station
for goods, ke., within the city. The directors have
deemed it necessary to apply in the present session of
Parliament for power to make a short extension branch
at Yeovil to the South-Western Yeovil and Exeter line
for interchanging traffic, near to the point where the
two railways intersect each other. There would not
otherwise be any convenient method of providing for
the traffic which must necessarily require to pass from
the trains of the one to the other company. The
estimated oast of that branch is £15,000. Since the
last half-yearly meeting your directors have give much
consideration to the miscalls of procuring the very best
quality of materiels, both of iron and timber, required
for the renewal awl maintenance of the permanent way
and works. Those materials form iinportaut items in
the ordinary expenditure of the company, and the
supply of them n requires therefore to be watched with
peculiar care, in order to insure their being of the Lest
and most enduring character. To aocumpiish this will,
respect to iron rails, the Board have decided, after the
most utreful intpuiry and investigation, to construct upon
their premises at Swindon a rolling tsill for the workint;
up of the worn or damaged iron, in stetter to be eon
veiled, with this., aid of a fresh material of the very best
quality, into new rails, which would poinese • longer
nail therefore more economical existence than any which
Mrs yet been inanufactureil for them. The first cost of
the rolling mill And MaCIIIIICrY will amount to 1:20,1100,
which sum, with all current interest upon it, will be
absorbed within a period of 14 years by an annual
charge on the new rails of £.2,00111, in addition to the
expenses of the manufacture. Your directors are satis-
fied that this process will utilise yonr worn rails at the
highest price olasinahle for old iron, and will piovide
new rails of the
moderate cost. The directors are unwilling to conclude
this report without adverting to the melancholy lose
which the company have sustained in the recent death
of Mr. Brunel. As the original engineer of this under.
taking, as • faithful and zealous promoter of its
interests, as one of those reutarkable men whose geniea
and abilities were not more conspicuous than the warmth
of his heart and the kindness of h s disposision, the
ilireekirs thiiik that the proprietors will wish to join
with them in paying this passing tribute to his memory.
in heartfelt proof of their gratitude for Ids services and
their admiration of his character."