The Express.
London, England, 1862-03-22 00:00:00

LONDON GENIRAL OMNIBUS COMPANY.

The half-yearly report of the directors of this
company states that the debts and liabilities, inclusive of
loans, on 31st December last, amounted to 96,070/. sa. 9d.,
being keg by 6,9961. Se. 3d. than at the corresponding period
of 1860.) 'The value of the buildings and stock was
336,8061. 12s. &L, or 2,8311. 19s. 6d. more than at the close
of the previous year. The balance of the loan from the
bankers of the company amounted at the claw of 1860 to
29,430/. It was considered undesirable that that' loan
should amuse a permanent character ; arrangements were
therefore made with the bankers for its gradual liquidation,
and the sum of 6,2001. was paid off during the year. The
amount of the loans from other parties show an increase of
2,500!., arising from an amount temporarily obtained to
enable the company to make the requisite provision for the
Exhibition traffic. This sum is in come of repayment. The
-item of leases and buildings has been increased 1461. 7s. 7d.
by the purchase for 22:51. of the lease of premises at Black-
well-the erection of new stables in Earl-road, Kent-road, at
a nest of 4281.-the enlargement of stables at Rotberhithe,
Shepherd's Bush, Notting Hill, and elsewhere, rendered re-
quisite for the better and more economical accommodation of
the horses ; other stables of a greater aggregate rental have
been given up in consequence. The lease of the premises,
136, Chespside, has been disposed of, and the amount re-
presented by it has been deducted from the amount of
this account. The usual provision for renewal of the leases
as they fall out has been made from the revenue account,
and the amount will be found carried to the credit of the
' Leases Renewal Reserve Fund, which has now reached the
sum of 7,637/. 4s. 10d. The omnibus facto u• established at
Highbury has been productive of very considerable economy
to the company, but it has necessarily absorbed a large
amount of capital; of the 601 working omnilmess, 466 are
new repaired and maintained at the factory at a cost of 15e.
per omnibus per week, or 2s. 6d. per omnibus par week lees
than the price paid to the contractors who maintain the
remaining 135 omnibuses. During the year, in consequence
of the death of one of the contractile, end the dia.
continual= of badness by another, the directors had to
take under their charge at the factory the omnibuses for-
' mirly maintained by those persons ; the differences of
valuation paid to them on delivery of the stock amounted
to 1,465!. 55., and wee necessarily a charge es the capital
The directors have, however, no reason to regret the cir-
cumstance, seeing that an economy in maintemam equal
to 14 per cent., iromedmtely ensued es an minimised for
the extra capital invested. Considerable outlay in the pew
parities el omnibuses for the coming Exhibition trees tar
also been made; the mite of the stock is therefor% maw
riellfellneemetd. perinea., year 69 sew omnibuses wise
pelt weelt. seeking a WOs less the establishment the
Aka ,of AL The "umber of hem on INA
Dammber wee rtiSpi. big II Ism then at the ebes d Ihe
its.beer wombs d melba= et week me
Thesis* isislinbeeknedittse.
Thettruesedege the esemay 1861 wen
597 IL ; is ISA 5138,9511. being an Memo
cd an, 11. The gm mpeneee-In 1861, inebehe
alto mem I es lISDNI mewal m 1111,7881. Vb.-Ith;
le 1180. 581,8611. 10a. Id.: being a deems of
8,0724 10e. 3d. The increased rerielpte and demos& on.
peWittwe therefore give a comparative real et
16,1311.125. Bd. in favour of 1861. Battersea& as en*
the flat six mouths of the year UK de pleat was
2201. lls. Id. only, it results that the elhors• pied was
attributable almost exclusively to the lad lie useehe of the
year. The health of the honer during the pi year was
• sgly good, and the saving in the amid mam-
mon' (eir allowing for the &mew of 61 harms referred
to) =mulled to 9,0161.45. 9d. The profill be saes :
t on the
of the company during the year, as wie Zeta
me to the revenue account, amounted to 13,2241. 7d. ;
to whisk has to be added the balance flculth•PrBTlBBll....Bl4
account, 9321. Os. 6d. ; making a total of 14,1561. Id.
Before arriving at the ennui at the disposal of the general
meeting, it becomes requisite to make the following deduc-
tions, vie. :-For interest on leans, 2,9961. 2s. 6d. ; on ac-
count of the first establishment charges, as determined at
the general meeting on 15th December, 1859, 2,0001. ; on
account of bed debts, as per same, 1,500/. ;
6,4964 2s. 6d., laming a balsams of 7,6601.10 a Id., out of
which thedirecken propene to declare a dividend of la per
share, free of Weenie tax.