The Express.
London, England, 1863-02-09 00:00:00

NORTH EASTERN.

The directors of this company report that, com-
pered with the conterisding accounts of 1661, then has
been en increase in the Wale receipts of 18,9661., sad in the
working expanses, taxes. ha., of 2,2641., leaving a set in-
crease in receipts of 16,702/. The receipts from the pas-
senger traffic during the past half-year showed a slight fell-
ing otf instead of the customary regressive increase. This
Lad been caused by a iliminubon in the number of visitors
to watoriog•pic cm and the seaside, analog partly from the
dishes, io the cotton district., and in part also from the
attractions of the loternational Erhalition. The incresse
in the revenue from the goods traffic bas arisen from a
partial revival of trade in the north. which has more than
counterlalamed the effects of the depression in other chi.
icicle. The mineral traffic shows an improvsonot, which is
'stint:, due to the increased carriage of iron-stone, and to
greater briskness in the km trade, which still continues,
and appears likely to inseaaa. The b■laness available for
dividends were as follow:—On the Berwick amount,
189.9391. la. 101. ; end on the Think mid Nalton account,
1,8011. 8.. 9d. ; ou the York account, 73,5731. lie 11d. ; oe
the Leeds account, 19,3631. le. ld. ; and on the Carlisle se-
men; 44,296/. 14e. 7d. The directors recommended that
dividmida at the following rats be declared, viz. :—Os the
Berwick ordinary stock at the rate of 5 per cent. per annum,
leaving 7,7301. 10s. 2d. to be carried forward to the seat ac-
count ; and on the Think arid/rialto° stock attire rate of 4 per
mot. per annum, leaving SOU 8a 9d. to be carried forward
to the next amount ; oa the York ordinary stock at the rate
of 4i per cent. per accuse, leaving 1,1451. 12e. 11d. to be
• earned forward to the next account ; cc the Leeds ordinary
stock at the rate of 2 per cent. per annum, leaving 1941.
6s. Id. to be carried forward to the next account ; on the
Carlisle ordinary stack at the rate of 7 per cent. per annum,
and on the 4 per met preferential stock an extra dividend
(to make the dividend ea that stock equal to the dividead
paid ore the ordinary "took), at the rate of 3 pee seat. per
sines, leaving 46211. 14a. 7d. to be carried forward to
_ the next account. Nearly the whole of the 1,000.000/. of
sew stock created is August last has ham allotted, and the
greater portion paid op. The issue of this stock has been
limited to shareholders, sad had the directors deemed it
*Reediest, the whale mold easily have been disposed of.
The approaching amalgamation with the Stockton and
Darlington Quemoy, sad that recently carried into egad
with the Newcastle sad Carlisle Company, made it impera-
tive that the Wises reeding at the debit of the fund for
the renewal of way sheekl be paid off. After placing to
the credit of the had 59,0001. and 6,3001. hitherto taken for
this purpose from the North-Eastern sod Newmatle and
Carlisle revenues at the clam of the year, there remained to
rhs debt of the food 108,9081. 15e. 6d. To meet this, it
was proposed to appropriate the 50,0001. deeding to the
credit of the contingency fund, 28,1011. 14a. 5d., the ba-
ker"' reserved by the Carlisle Company for renewal of
way. Two sums of 10031. 21. 9d. and 10,0681. Is. 10d.
were also credited to this fund, which arose out of special
eircumatances and required special explanation. At tke
time of the amalgaroatioe between the Berwick, Tea.
sad Leeds Companies, the Berwick had 57,5941. 6..
reedier at the credit of their permanent way re-
newsl food. The York Company had =5lll. 2a. Id. at
the credit of a similar fund ; but the Leeds Company re
pelted their pernsamot way out of current revenue without
any /qualm—rig feed. As the Berwick Company had so
bow a balsam is had in which. if it were applied after
the suralmusatios le the purposes at the penniuseat way,
the three companies would participate. that oompsay
ref used to "meant Go each as artangement unless the other
campmates provided balance" bearing the mme ratio to
theirs. The York and Leeds Companies declined to pro.
wide these additions! ram, but agreed to pay interest
therem at the eurnot race. This retereet had been credited
half.ytorly to the permanent way fond from the data of
the amalgamation. It was now prop:reed to capitalise three
mostial payments, thus creating the two sums above- men.
timed of 10.6731. 2s. 9d. and 10,0861. 7a. 10d. The eogineer-
in-ehief reports that the permanent way works and rolling
stock have bees properly searotaithd daring the half year,
and in a satisfactory state