The Express.
London, England, 1863-01-29 00:00:00

LONDON, BRIGHTON, AND SOUTH COAST
Aim WA y.-/THIS DAY.)

The half-yearly meeting of the proprietors was
held at one o'clock, at the Bridge House Hotel, Leaden.
bridge ; Mr. Leo Sa i wn= n the chair.
The report, having be published several days pro
vioaalyt was taken as read.
The Cruinium moved the adoption of the report and
amounts. He commenced by referring to the capital
amminte, °Mervin; that • considerable addition was made
during the half-year to the perpetual debenture stock, and
that it now amounted to 1,025,000/. He hoped that ere
long the whole of the mortgage debt would cone= of pm- I
petual debenture stock. The revenue amount was highly
satisfactory. The increase in the put year was 77,0001.,
and if the dividend were not augmented, it must be
remembered that interest and dividend had to be paid os
the additional capital raised for extensions. During the
pan year they mined 13.600,04)) passengers without
causing the death of a single passenger.
(Chun.) Of
these there were, inclusive of volunteers, only
408,000 ordinary passengers to and from Brighton,
and the total number, including excursionists, was
693,000. Out of 1,254,0001., the total revenue of the
year, only 220,000/. was derived from Brighton paseengen.
He mentioned these facts to show that there was no danger
from the projected line to Brighton by way of Beckenham.
(Hear.) There had recently been an outlay of between
30,0001. and 40,0001. under the head of exceptional expen-
diture, and all laiMdes of that kind were now completely
The greater part of the main lines had been
reanchaewraeot improved princies ; 136,000/. had been paid
already for that pupas, and a sum had been set apart out
of the revenue of the put lyear to complete the work. As
regarded the successive reductions in the fares, he °burred
that they had now maintained a dividend of 6
.per cent.
for seven rms. The board was of opinion that
the company should keep to that dividend, and not
seek to increase it, letting the public have the benefit of
anysurplus income whenever they could do so. They
shoat, he thought, decrease the fares and inmates th
eanensiation of the public. In no instance, he observed,
had • redeetion of fares Woad in • diminution
of recap= After tracing the various reductioes
down to the meant period, he said that the board
in what they now ceatemplated were pursuing a principle
which had been acted moon for years. They proposed to
make considerable reductions on the whole of the company's
system of linea, and they believed there would be no loss of
revenue. They proposed-from thei let Feb. to reduce the Vic-
toria station uprise fares to Brighton from 13s.ed to IU.
and the hod-clue expire fares from lls. to 9s. 6d.; the Ist
class cedieary fares from lie. to 9". 6d., end the 2nd chew
ordinary fans from Bs. 6d. to 75. The third clam farm
were already as low as any reasonable man could expect
them to be, namely, U. 2d. At London Bridge there would
be corresponding reductions. He then entered into •
minute detailed statement of the intended ryas-
dons in the Brighton season tickets, from which
it appeared that the charge under the new winner
meets for conveying the first-class mummers by express '
trains will in future be only la. lid. each way, or Is. 10d.
for and returning ; the other fares being subject to
similar reductions. He afterwards expressed his conviction
that within five years the result of all these diminutions
would resemble that which had been witnessed in the case
of the penny postage. It was intended to separate the
Landon-bridge trains from the Victories Station trains
to and from Brighton ; and the effect of this
would be to save ten minute" to the former trains
He than referred to the opposition line to Brighton, now
before the public. The distance was in favour of their
own line, the proportion being about 60 miles to 57 ; the
tunnelling of the projected line was 00,000 odd yards, 1
their own tunneling 5,000 odd yards; and the'
gradients were also in their own favour. The
makind of unnecessary) lines, had ceased the greatest
mischief. Railway ppte hadreached =eh • date in eon-
semisoft of oom lion that now it would net be possible
to raise 1001. in the ordinary way for the construction of a
line. Money could only be got by means of ruinous
ma= with °outrun= preference shares, he., &Titan=
resultbrasthatoothlieg was left for the ordientynharelsoiders.
This precious opposition line was to cost 4,000,0001., to com-
pete for • traffic which, as he had shown, amounted to only
2200001. • year. With all the efforts they could make,
their rivals could not get more than a frank of =sprawled
traffic • and alter paying working expose= there would be
only BSyoool. • year as interest on • capital of 4,000,0001.
(Hear, .) He had really no apprehend= that =eh s
scheme would be tolerated in =dame=
Mr. Baia thought that with an increase of 70,0001. in
the revenue of the put year, great ingenuity had bees
exercised by the directors in keeping down the dividend to
the established one of 8 per cent. The chairman bad nos
stated whether the intended =lndio= of fares extended to
the ooast lines.

1i106117;111/11AN observed that such wu the case ; the
reduction would extend pro refs over the whole system.
(Hear, ism.)
Mr. Bur. was glad to hear the; u otherwise it might
have beet urged in psalmist that the change was in-
tended amply to meet the opposition scheme. (Hear,
boar.) He maimed that Hoe Loudon, Chatham, and
Dover tom y, whe were overflowing with wealth and
laughter)—were at the bottom al that edema.
[The meeting wu proceeding when our report left.)

WEATHER REPORT.-(THIS DAY.)

THUM" JAIVAkY 28. 8 •.Y.

=

TOODAY.
W.S.W. to N.N.W., • SCOTUS!).
with rain.
11.13. W.
Ito W InZAND.
plea n
W.S.W. to Nrainy.N. W.,
phi, relay.
As next above.

SATURDAY.
W.N.W. to N.N.E.
voltr oat, rain or wow.
W. to N., strong. un-
settled.
Aa mist above.

W.Cierram.

11.WJamousa.

Ai above.

I.W.Taaricv,

S.W. to N.W., a pis
rainy.
W.N.W. to N.N.1.,
stmng, squally.
Similar. LL ENGLAND. As neat above.
LAYS to W.R.W., and it. MMus. N.W. to N.B.ands,
to N.N.W , gale in strong, squally.
pinata.
Routh cone all rousd the coasts this Thursday.

ioi
100
10.
100
100
100

AN ELYPLE TO VOLUNTEER CAPTAIN& —A ISM
Jamisone of patriotic spirit has taken place in the pliant
Bristol Rifie Regiment. Captain Wright, who not only
commanded one of its companies from the formation of the
corps, but, by his exertions and liberality, was mainly in-
strumental in originating this fine and effinient force, has
just voluntarily fallen loto the rank and file of his own
enaMany. Mr. Wright, finding that his health and avoca-
tions would not permit him to conveniently bestow all the
attention and time on the company that its perfect effi-
ciency required, determined to resign his captaincy, hat
still to continues member of the oorpe, and has set the
example of shouldering his rifle in his former company.—
Sher6orne lemma&

About twenty veeeela laden with atone left
Guernsey for Loudon 00 Saturday last.

SHARE LIST&-(THIS DAY.)

Two o'Owm.

The railway share market is quiet to-a;y, and the
variations in prices are few and unimportant.
Great Western and South Eastern stocks
have declined per oent., while Lancashire
and Yorkshire has improved to a like extent.
London and North Western stock is notr_looted
97 to ; Great Western, 66 to ; Widlandt
127} to] ; Lancashire and Yorkshire, LOB} to 109 ;
South Eastern, 89# to g ; Great Eastern, 461 to *;
and London and South Western, 1021 to 1031.
Lombardo-Venetian Railway shares are steady,
at 2 15-16 to 3 1-16 prem. Bahia are flat, and
Dutch Rhenish and Pernambuco quiet. Bombay
and Baroda and Great Indian Peninsula stocks are
dull. Great Western of Canada shares are
inquired for.
MN, 1 AND firlw"-
air. IPd I unman. Closing FUN Wes to-4y
yesterday. to 1 pm.

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Leith .26148
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Queenstown .20.8 i '6O
Holyhead keel 48
Liverpool 19.6619
Pembroke 29.8A49
POKUMOII _1,2).00 61
Area — I—
brad 116.1150 0
L'Oriest KUM 1
Rochefort _10.8601 1
Mama% 30.00150 1
r=th -19.99,50, 1
nth. ,29.9548' 2
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