The Express.
London, England, 1863-08-12 00:00:00

MIDLAND.

The following is the report of the directory to
the thirty-ninth half-yearly general meeting to be held on
Tuesday nest:
" The directors have to express their satisfaction, that
notwitlistitoding the continued depression in some branches
of the trade of the country, the traffic of the railway show
a considerable increase for the half-year. The receipts,
compared with those of the corresponding period of 1862,
are as under :—From coaching, 358,5724, showing
an increase of 24,6141. ; from minerals, 223,2691.,
showing an increase of 10,9894 ; from merchan-
dise, 443,4971., showing an increase of 22,079/. ;
from cattle, 14,6851., showing an increase of 5091.
The result of the whole being that the amount of the gross
traffic is 1,040,07.34, and the total increase 58,1914 The
balance available for dividend is 373,660/. 16a. 5d., of
which the sum of 4,1861. 3a. 7d. is brought from the account
of the previous half-year ; and the directors are enabled to
recommend the declaration of the following dividends (lass
mums tax), payable on the lit day of heptember next :-
2/. 17s. 6d. upon each KM consolidated stook, 21.35. tkl.
upon each 100/. consolidated Birmingham and Derby stock,
31. upon each 100/. consolidated preferential stock, 34 upon
each 100/. consolidated Erewash Valley stock, 2/. 5.. upon
each 1001. consolidated 41 per cent. preferential
.stock,
2/, upon each 1001. Leicester and Hitchin pre-
ferential stock, 21. la. upon each 1001. consoli-
dated irredeemable 41 per cent. preferential stock
2a. 111 d. upon each 61. 4s. share, being 1 year on 4/. 4. and
165 days on 14 per share at 51. 15e. per cent. per annum ;
2s. 8 2-sd. upon each 01. preference share at 41 per cent.
per annum, leaving a balance of 2,094/. 7s. 2d. to be carried
to the account of the current half-year. Mr. Kirtley re-
ports—' That the rolling stock is in good working order, and
that during the half-year ending 30th June, 1863, the mile-
age performed by trains has been sa follows :--With pas-
senger trains, 1,901,236 miles ; with goods and mineral
trains, 2,800,031 miles; total, 4,701,267 miles, which, com-
pared with the corresponding period of last year, shows au
increase with the passenger trains of 96426 miles, and with
goods and mineral trains of 286,351. Total increase
382,677 miles. The renewals of locomotive stock for the
half year have been 10 engines, 14 carriages, 18 break vans,
7 horse boxes, 1 carriage truck, and 204 waggons, the
entire cost of which has been charged to revenue.'
Mr. Crossley reports—' That during the half-year 21 miles
of single line have been relsid, and that the permanent
way, work., and stations are iu good repair.' With respect
to the new hoes the directors have to report, that the works
of the Otley sod Ilkley line are making fair progress ; that
the Tibabelt and Teversall Branch and the junction
curve at Beightoo have beer let, and the works commenced;
that the works on the Ashoburch sod Evesbam branch are
also making good progress , the whole of the brickwork for
the bridges arid veal being completed, and but little
earthwork remaining to be done ; the station buildings on
this line have been commenced, the work is progressing
steadily, and there is every reason to believe that it will be
so far completed as to be ready for opening by the end of the
year. The Kowsley and Buxton line having been approved
by the government inspector was opened for public traffic
on the Ist of June, which was the day fixed in the contract.
The works for the Junction with the Rowaley and Buxton
line to the Dove Holes tunnel (a distance of four miles)
have been contracted for, and are proceeding satisfactorily.
The works of the Dove Holes Tunnel (whirl is about 11
mile in length) are being carried on by the company. All
the shafts except two are down to the tunnel level, and
the tunnelling is being proceeded with at ten faces. The
remaining shafts are expected to be down by the Ist of Sep-
tember next. The line from Chapel-ear-le-Frith to New
Mills, being a distance of about six miles, has been let by
contract. and the works will he commeoced forthwith. The
construction of the Whitacre and Nuneaton Railway,
which wail let by contract in November, 1862, is
now proceeding rapidly. Some delay arose in obtain-'
iog possession of the land ; but the line may be
expected to be opened in the suminer of next year.
The following bills promoted by the Midland Railway Com-
pany, and to which the proprietors gave their unction at
the special general meet. gs held oo the let of April, 19th
of May, auil ltith of Juan, last, have received the royal
assent, viz.—• A bill for the construction by the Midland
Railway Company of a sew line of railway between London
and Bedford, with branches therefrom ; and for other pue
poem' A bill for enabling the Midland Railway Company
to construct new railways and works, and to acquire addi-
tional lands in the West Wading of the county of York, and
in the counties of Derby, Stafford, Warwick, Leicester,
Gloucester, the city of Worcester, Nottingham, the towns
of Nottingham, sod Northampton ; sod for other pumas.'
' A bill to empower the Furness Railway Company and
the Midland Railway Company, to be called "The Furness
and Midland ItailwAy ;” and fur other purposes." A bill
for the construction by the Midland Railway Company of new
railways from their Bristol and Birmingham line to the city
of Bath, and in the city of Bristol ; sod for other purposes.'
The last mentioned bill as deposited contained power to
make a branch from Mangotsfield to Bath. but this branch
has been postponed for the present, and the bill so far
modified as only to authorise a short connecting line be-
tween the Midland Railway and the Bristol and Exeter
Railway at BristoL The following bills relating to mea-
sures affective the interests of the Midland Railway Com-
pany, promoted by other companies, and to which bills the
proprietors gave their sanction lit the special general meet-
ing, held on the let April, 6th May, and 16th June last,
hove also received the royal assent,vir.—`A hill for making a
railway from the Athcburch and Evesham Railway of the
Midland Railway Company in the parish of St. Lawrence,
1 r2vasham. in the county of Worcester, to the Redditch
way at Redditcb, with a branch to the West Midland Rail-
way ; and for other purposes.' A bill for making a railway
from the Bristol and Birmingham line of the Midland Railway
at Btonehouse, to Nailawortb, in the couoty of Gloucester.'
A bill for the amalgamation of the West Midland Railway
Company with the Great Western Railway Company ; and
foe other purposes? 'A bill for making's. railway Iron, Peter-
borough to Thoreau, Wisbeach, and Sutton ; and for other
A bill towhead. the Ketteringsod Thrapitoos
r= •
Company to extend their authorised line of railway
to Huntingdon, with a branch railway at Huntingdon ; to
change their name ; to authorise them to use certain sta-
tions and portions of railway of the Great Eastern Railway
Company and the Great Northern Railway Company ; and
to make traffic arrangements and other unogemeota with i
those companies and with the Midland Railway Company ;
and for other purposes.' The object of them bills having i
been already stated in the report to the half-yearly meeting
in February last, and having beam further explained to the
shareholders at the special general meetings above alluded
to, the director have now only to coogratulate you that
notwithstanding the powerful and protracted opposition to
which the first two were subjected in Porliameot the whole
of the bills hays now received the sanction of the legislature.
The directors have sines the last half-yearly meeting made
arrangements with the Great Northern, Great Western,
and other railway companies, for the interchange of traffic
and for other purposes, which arrangement. they believe I
will be of advantage to the companies by placing the rele
Lions between them upon a more amicable footing than here-
tofore ; with this view they have also entered into nego-
tiations with the London and North-Western, and other
neighbouring companies, in the hope that similar beadietial

arrangements may be effected with them. A resolution will
be proposed for consolidating, or converting into irredeem-
able 4 per cent. stock, such of the Cf. preference shares as
shall have been fully paid op since the general meeting in
February last ; oleo a resolution to authorize the follow-
ing expenditure on capital account :—Additional roll-
ing stock, 150,000/. ; additional station end siding
accommodation, 50,000/. ; ale and corn stores, London
station, 100,000/. Taal-300,0004 It is necessary for
the proprietors to appoint five persons, each holding
2,0001. to stock or @bares of the company, to meet
in January next to select and recommend to the next
half-yearly meeting a suitable person to be appointed as
auditor. At the conclusion of the business of the ordinary
half-yearly meeting it will be made special, for the pur-
pose of considering, and if thought fit for approving, an
agreement between tbs Evesham and Redditch Railway
Company and the Midland Railway Company for the fol-
lowing purposes, or some of them, viz. :—The maintenance
and repair, management, and working, by the Midland
Railway Company, of all or any part of the Evesham sod
Redditch Railway, and of the works and conveniences be-
longing thereto ; the regulation, interchange, and
apportionment of the traffic upon the Eves-
ham and Reddish Railway, and the supply of
any rolling or working stock required for each purposes -
the fixing, taking, and levying of the tolls, rates, and
charges upon, and the division between the contracting
companies of the receipts arising from the traffic upon the
Evesham and Redditch Railway, or any part thereof ; the
payment by the contracting companies to each other in re-
spect of all or any of those several matters of a fixed interest
or contingent rent. The shareholders ore aware that the
line of railway between Barut Green, on the Bristol and
Birmingham Railway, and Redditch, has been for some
time open for traffic, and that it is now worked by this
company under agreement. The Evesham and Redditch
Railway is an extension of the former line, and will join at
Evesham the Ashoburek and Evesham Railway now under
construction by the Midland Company. It is evident, there-
fore, that the traffic of the district traversed by the Evesham
and Itedditch Railway can be conveniently worked by the
Midland Company ; and the directors believe that • work-
' iog arrangement, comprehending the objects stated in the
notice convening this meeting, will be beneficial to both
companies, and recommend it to the shareholders for
adoption."