The Express.
London, England, 1852-08-12 00:00:00

TONBRIDGE RACES.-WEDNESDAY.

Town PLATE of .54) SOTO. ; 4.yr olds, Bst7ll;five, flat
121 h; six and aged, gat; winners extra; the winner to be
sold for 80 sore.; the second to save his stake. Heats.;
about one mile and a quarter.
Mr. keevses Abdallsh, 3 yrs, est 121 b (Owner) 1 1
Mr. llornsbyi Ice o' nut, seed. 9st (Hornsby, pan.) 0
Captain Rowley's Brent Honnoo, 6 yrs, let I 110
(Y. Halshin) 0 3
Me. Messer's Utopian, 3 yrs, 7st 710 (Mack/.4) 0 4
Mr. H. Land's The Gift, 3 yrs, 7st Ili (Land, }sou) 0 5
LADIES' CUP of 20 sera., with 10 sous added ; 3-vr olds,
Tat 60) ; four, Nst 7111 ; five, gat 121 b ; six and aged, 9st 21b
marts and geldings allowed Sib; winners extra ; the second
horse to save his stake, and the winner to be sold for 80
sou. if demanded, &c. Heats ; one mile and a quarter.
Mr. Reeves's Alitallsh, 3 yes, Wt bib (locluding 1010
salts)
Mr. Jennies Maim:stony. C yes, art 1:1Ib (Blornsby) I 1 2
Mr. isircomb's bacchanalian, aged, bat 13Ib (9.13..15hi0) 2 3 1
Mr. Land's The Get, 3 yrs, Tat mb (Masted) 3 dr
Mr. Radcliff 'a Negress, 3 yrs, ha 91b lhluble) 4 dr
Hymns Race of 2e sous.; 3-yr-olds, 84 71b; four,
9st 7:b; five, 10. t 7th; six and aged, llst. The winner to
be sold for 50 sot's. if demanded, &c. Heats, one mile and
• quarter.
Mr. Smith's Vales Jack, 3 yrs, Ist 7lb ..... (l3effert) t I I
Mr. Frederick's Wee Mickey, aged, list
Mr Martin's Gals, 4 yrs, ist 71b ..... (Owner, 3 912

4"

LONDON AND SOUTH WESTEILN.

The directors of this company have just issued their
report to he ..obmittril to tl e proprittors at the half yearly
meeting eb is ...day nest. It states that the 5.00111116 for
the half-year emlieg the 30th of June, 1852, ekew the net
mesas of this period, after deducting interest as leans,
and all preferential chews, to be 102,71131. The surplus
from Drettaber, 31, Init. H,2801., making together 110,9tkil.
applicable to dividend, from which the directors mom-
steed that a dividend for the battles, at the rate of 31 per
sent. pee mullet be declared, amousUng to 109,4.5%1., leav-
lag to bo tarried over to the neat aiscomit, 1,6121. The
average dividends per annum of the last three years. endieg
Jura 30 in each year, late been-1860, ; 1551. 32; sad
1862. tj. The venom:, receipts fee the half-year ending
the 30th of June, 1812, amounted to 251,7731., and for the
correspondieg period of 1851, to 281,5611., Cu:lading the
fret two mouth. of the increased teal& resulting from the
Exhibition; the working charees on revenue during the
lest-mentioned period being 111,8111., and during the sin
month. in 1811, 99,4181., showing that while the receipts
have kept up to the level of 1831, the charges are higher
by 12,1961. The receipts from passengers ore lose than
Lease of the corresponding period of last year by 9,PCN., of
which 3,7151. is attribatol to the increase of traffic up to
the 31st of say, 1831, and 7,2731. during the Youth of
June, 1161, is ressequencs of the Eshibiticia. Excluding
the month of June, when, is 1811, the charge of admissive
1111.1 the Millibition had reached that low price which wee
bead to attract the great crowds of visitors, the
meow of the present yes' waecsgood a. that of I=l
the eispert JUN es that the Almelw given to travelling less
wan by the Exhibition has had sot any bad ellen. es
wee martins ,01, on the .rates of this year. The engem in
the peeeesger rellealle is covered
re by the itiefelliw lb* get&
least venue. The increase o 12,1961. in the wetting
sharers arises principally is the following items, via.
emotive and cirri ore, ti,hoBl.; and Corshant and Poets-
neigh eters expenditure on works for strenretbearag trat
line, and other poet line expenre.. 2,0001. Toe locomotive
sad carnage increased eseenses arise irum the illerelle, 6.f
rattbsy in repairs requisite in order to recover the curative
wear end tear to wnieh the carryine stuck was +objected in
the summer ea 154, the demands of the carrying stock for
the four ovulate moult* of that year having been doable
that of all ordinary summers. This is condensed by the
fact that the new material put in to replace worn-
out parts ha. coot, during the six mouth., more this
year than last year by 7,600/. The etiolate of the
compeny are now in a better condition than they have
ever yet been. The old engines have now nearly ell been
replaced by engines of improved construtioa. The present
engines. notertlotandinst they draw greater weights at
greater speed than the oid:r engine,, consume considerably
lea. coke per nail., Tick: Col3sllllllh.tiOn of coke this half-year
(19.9 lb. IMF 111111 r) i. ley by 11 per cent. than the coatemp-
con per mile of list year. The directors regret to state
that the trallit meaner of the eseayeay left this country
in March lot. Up to the preseat time there appears to be
• deficiency of cash unaccounted fot of 2,900:. on the part of
the ntaaa,:,r. Alowatees arc ales claimid, by carriers and
others, amounting to 3,041. 'the dir‘ctors hey, debited
the present half-year with 1,7271., and they intend
to deal with the remainder, iu respect of these de-
ficiencies, iu the same way during the next two half-
years. The amount standing to the credit of the work.
tag aredubt tit the steamboat department, to the 30th of
June last, after deducting all expense., dividend, and in-
terest on the luau *deuced by this company, is 4,1501.;
from *tech the dividend of a per cent. moat be paid to the
sterashoit company to the 30th of June. The position of
the claims of railway companies to exemption: from duty on
panenger-taa on farts at and under U. per mile continue*
under litigation between this company and the Inland Ile-
conimissioners. The rates fur the half-year unmet

Oir • pie amt. on the net menthe.. The rating
thus inegisues • grievous burden on this and other railway
The proenien against accident to the mesa
rnit ele Mains o now in satisfactory operation, the um
baying generally voluntarily entered into it. The bads el
this casualty rand is, that on the servants allowing a swaths
small deduction, not exceeding Id. per week, from their
wages towards • proviaiou fund against the consequential, of
accident iu the performance of duty, the company add an
equal contribution, which will afford compensation le rela-
tives in all fatal cases of 501.; in all caws of loss of lamb,
861. • and in ease of permanent disqualification he Mare
esaptryment a suitable compensation to the individsel la•
pared. The amount charged fur these and other bensothint
'Meets is, for the present lialf-year, at the rate of SOM. per
mama A modified agreement between this employ
sod the Brighton Company is now being nets& open in
irMto the Pornmouth traffic, and it is hoped that
lelilead to the contleuaoce and strengthening of them
friendly relations which have now for some time peg
sainted between the two companies. A responsible party
he (Alined to make a branch from the station of the com-
pany st Wi.nbledon to Mitcham, a distance of two miles, oil
• perfect level, on • guaranteed rent from this company of
1,60111. per annum, being at the rate of 5 per cent. on coin-
petal cost. This branch will be capable of being joined
with a blanch which the Brighton Company hare agreed to
make from Croydon to Mitcham, on certain conditions, with
the ewe party who has made the offer in question to this
employ. The directors, seeing the very attractive nature
of the building property between Croydon and Wimbledon,
recommend the proprietors to authorise them to take up
the project at any time during the next year when it any
appear expedient to do so, and mutucly satefactory terms
among all parties can ht arranged. It will, on the terms pro-
pelled, involve no additional expenditure of capital to the ocen-
peay, and be ondoub•rdly of local convenience in &populous
mighbonrhuod, and • productive feeder to the main line.
Alter adverting to the three vacancies at the board, the re-
d Mites that the north aid south junction line from
to Willesden, by means of which Southampton
will be connected with London docks and warehouses, os
well as with Manchester and the whole railway system of
the mirth, is advancing to completion, and wiil probably_ be
for tragic early in September. The works from New
DasbMmke to Andover are in active operation. The
ONlOvent realised by property sold daring the ilia meths
ending the 30th of June, 1852 was 34,979!., Melodies ma.
Thissainuit of 16,6661., as realised by rails sets WNW
the nth lOW to th, Nortkikutg,itattwo, Canfeey. in
discharge of the calls on shares debited on the ether aide of
W account. The Alton line, extending the asffidthed and
Lanham breath to Alton, nine miles, has lima opened
fee teethe, sod will be completed within the Mi-
ms* of 1850. The average number of
daily over the line was 10.090 euring the past
and the average number of miles travelled by east-
pas
walk; 94f. The con for locomotive power per mile mit
Math was 6.61 d. ; and fur the corresponding peeled aftlil,
11.19 d. The number of miles Unveiled for the lelf-yeer
ending die 30th of June 1852, was 1,042,152, and lee the
'of 1861, 943,203 mile,. The capital OODOIIit
sheets that 8, 4161. had been received, and 8,614,81181.
expended, leaving a balance of 107,6311. The debate's
amount to the 30th of Jose shows that 524,8771. IMP Ma-
nned at 6 per cent. (193,5201. of which has bees paid off
or renewed at 31 per cent.), 117,0101. at 41 per cent., 3,000/.
at 41,1,116,4001. at 4 per tent. 86,700!. at 31, and 294,60 W.
at 31 per cent., to which 193,5201. has since been added at
the haw rite. The amount of capital entitled to dividend
is 0,730,6331, including ioo,onot discount on shares
Tb MMI share capital, irrespective of pretereaminsek
smooths to 7,431,0501, including 437,0631. althea in
the •hattle of the company, 251,9331. not called
ep, • and 11,4004. non-converted Gosport shares.
The menthe for the half year ending
.the 30th of Jmie
anaounts to 285,8271., and the expenditure to 131,011.
bubbling 17,5681. government duty, and rates and lame:
leaving the balance of net revenue 164,210/. From this is
deducted debenture interest and preference charges,
amous•ing to 46,14441., leaving the net income 105,4461.,
which, added to the balance frost the last account, leans
110,918/. applicable to div,dend.
The anditors, Mr. T. Close and Mr. A. Noyes, attest the
esereetness of the ac:ounts. They report that up to the
30th of Jane, 1852, there has been expended on account of
the !estimated liabilities of February, 1850, the sum of
800,3401., whieh leaves for future expenditure 131,502/.,
wad that there has been received up to the sane period, for
rails and simple's property sold, 74,01 W. This expenditure
is irrespective of the outlay during the half-year, amount-
ing to 611,1106/.,'on the Farnham and Alton, Basingstoke and
Andover, and North Devon lines. It is likewise irrespec-
tive of the 7,5001. paid for the Exeter and Credit= pre-
hrenee share,.
',EAST LANCASHIRE RAILWAY.

Yesterday, the half-yearly meeting of this com-
pany was held at Bury, and was succeeded by a special
meeting to c under the propriety of mnverting the paid-up
shaminto stock. Mr. TROIA. UTYO UAL; ChalllClall of the
board of directory, presided.
The CIIAIRM A2l *aid the capital account showed that,
daring jbe put half-year, 151,0661. had been borrowed, at
rates vatling from II to 41 per cent.; and during the same
period they bad paid off loans amounting to 20,0001.. hear-
ing an average rate of interest of nearly 5 per cent. Me had
pleasure in informing them that thee were now obtaining
money on loan, easily, for perinda of nee and seven years,
at 31 we cent It was oleo satisfactory that the arrears of
tells had, during the half-year, been reduced by 3461.,
leaving OD amount of unpaid of oral f 1461. 10s. At the cola-
mentemont of the past half-year /1141. wee received on
anticipation of calla of the Fifths shares, hot, In conse-
duence •f the auleierinent coy state of the market, the
irectors refused to receive any further amount on that
account. The expenditure on capital account showed a
sem of 536 f 15s. for parliamentary expenses. In
explination of this, he might state that the directors
of this company and of the St. Melees Railway
were solicited to join in the formation of • railway from St.
Helens through Ornsskirk to Southport, and also forming
junction with the Liverpool and Bury Railway at Rain-
forth, which would have bmught the Skelmerelale branch
of this railway into productive use The expenditure on
that breath would form part of the contribution of this
eompany to the undertaking. The directors were desirous
that the Lancashire and Yorkahira Company shout.' also
pin in the undertaking. to avoid the neeemity of ennatreet-
mg the Manchester and Pouthport Railway • and it might
perhaps bare relieved that company from the mandamus
then pendia". It was intimated to the directors that •
great portion tit the land could he obtained at an agricul-
tural value, and they therefore felt justified in contrihntleg
towards the ropense of the aurveyr, plane, and pre-
limlnery proceedings. part of whisk had been de-
frayed by the St. Ilelens Company Subsequently tenders
for the coastreetion of the line had hem 'Omitted by re.
Tensible' eastractors, by which they were to dehver the !
line in a working condition for inch aims as would have
testified this company in saheeribieg, of the capital
for the undertaking. But the as of the Lae&
shire sad &Nish ire Company to b be
mad Os lbw dew af lb, imam imairme bawd Ibis=

tors to withdraw from the scheme until • more favourable
opportunity. The director+ were making the greatest pa-
sible mentions to close the crpital account at the earliest
possible period. All the matt. n relating to the construe-
ti of the joint line and station in Liverpool had been er-
rant d with the Lama-hire and Yorkshire Company, ex
apt the h gal and engineers' charges of the latter company,
and • few minor questions which were referred to the
MIN es of tb' two companies for settlement. AlUsough
they had not been able to pay a higher dividend fur the last
half-year than what was paid for the corresponding half of
ISM, yet there was a continued and gradual increaser of
their traffic both in goods and passengers; the fixed churn"
had almost reached whiff would, probably, be their ultimate
maximum; and thr commerce of the East Lancashire di-
strict was rapidly increasing ; and he, therefore, had no
hesitation in pronouncing their property to be in • sound
and improving condition. The directors were endeavour-
ing to cultivate friendly relations with other companies, and
they were in hopes of completing further traftic arrange-
ments with the Lancashire and Yorkshire Company and
the London and North K'estem Company, for which the
had been some time negotiating, and which, with such
modifications as past experience had suggested for
rendering them strictly equitable, might be expected
to increase their revenue, and to reduce the working ex-
penses at all the competing points. Ile might inform them
that the amount payable to the Leeds and Liverpool Canal
was sow deducted from their weekly receipts before publi-
cation, an that the amount published was now clear from
being alerted by the canal lease, in the ism* way that they
deducted the toll payable to other railways. The recent
wet weather had retarded the progress of the Ifseup
branch, but the portion between Banap end Newchurch
would be open in the early past of seat month. There
were 'some observations in the report respecting the toll
payable to the Lancashire and Yorkshire Company by this
company between Msnehester and Clifton, and a new rail-
way to Salford. The directors a ere advised by counsel that
they should succeed in reversing the judgment of the Court
of Exchequer with reference to that toll. If the decision was
against them, this company would be involved in an addi-
tional payment of 5,0001. a year, which, added to the pre-
sent payment of 6,0001., would pay upwards of five per
cent. on the estimated cost of • new line from Clifton to
Salford, which would give them greater facilities, and •
good local traffic. He trusted that it would not be neces-
sary to have recourse to inch • step, but he entertained a
strong opinion that it was desirable to have separate en-
trances into all the large towns. If the decision were
against them they would have no other alternative, unless
the Lancashire and Yorkshire Company were disposed to
grant them an equitable agreement for continuing to
✓un over their railway. The directors were advised
by counsel that the full parliamentary toll which
they claimed from the Liverpool, Crosby, and South-
port Railway could be enforced, and their solicitor
was now taking the necessary steps to have the question de-
cided during the present half-year. By the award which
Mr. Brunel had given in reference to the Preston station,
this company was allowed to establish • free and indepen-
dent station at Preston both for emote and passengers. He
concluded by moving the adoption of the report of the di-
rectors, and that the accounts of the company now sub-
mitted be approved of.
Mr. RILEY, a director, seconded the resolution.
After • brief conversation,
The report and accounts were adopted unanimously.
The CHAIRMAN then moved • formal resolution, de-
claring • dividend of Si. per share on the unguaranteed
stock, and Is. 3i. upon the quarter shares.
Mr. JOHN HOLT, of Stubbilee, seconded the motion,
and it was tweed to.
Mr. William Yates, iron-founder, of Blackburn, was ap
painted a member of the committee to select auditors, in
the place of Captain Harrison.
The meeting was afterwards made special, and a resolu-
tion for convening the present shares into stock was agreed to.