The Express.
London, England, 1863-01-03 00:00:00

LONDON DOCX COMPANY'.

The ordinary half-yearly meeting of proprietors
was held yesterday at one o'clock at the Dock -house ; Mr.
C. J. liArgrso in the chair. The following report wee
read :

The directors have now to lay before the proprietors,
• report of the company's proceedings for the half
year ending 30th of November last. The number of
loaded ships from foreign parte which entered the
London Dock, during the six months ending the
30th November last was 573, measunng 246,690 tons ;
the number for the corresponding period in 1861 was 575,
measuring 259,030 tons. The revenue account shows that
the amount of earnings during the last six mouths ending
the 30th November baa been 235,4201. 6s. 10d. ; the
amount for the corresponding period in 1861 was 248,019.
17a. led. The amount of expenditure, exclusive of &bee-
tare interest for the six months ending the 30th November
last, has been 158,8141. Oa. 2.1. against 165,860& Is. 11d. for
the conespoading period of last year. The interest on de-
bentures for the last half-year has been 22,8921. 19a. 11d.,
assist 23,9561. ee. 9d.foc the corneipoodieg period of last
year. The balance of profit for the half-year amounts to
53,7131. 6s. 9d.,against 58,2031. Bs. sd. for the corresponding
period of last year. By the statement of the profit and loss
account for the half-year it will be seen that the balance
standing at the soffit of profit and loss is 201,494/.
15s. 10d. ; out of which the directors recommend the pay-
ment of a dividend of 11.35. per cent. on the company's stock
for the half-year, amounting to 47,7111. 2s. 10d., having'
a
.
Shone in favour of the company of 153,7891. 1 '3•
The income tax will be deducted from the dividend. The di-
rectors recommend that out of the profit of the present
half-year the sum of 5,0001. should be carried to the credit
of new works and premises, by which &batiks, after pro-
viding for some necessary sheds, and certain charges apper-
taining thereto, would be reduced to 71,3071. 17s. 10d. The
directors also recommend that 1,0001. should be carried to
the credit of the fire insurance exposes account. The alto-
rations in the company's premiss required by the fire ill-
, sans offices were so promptly commenced and satisfac-
torily executed, that the directors have received the sur-
veyor's formal certificate, accompanied by the following
remarks :—" I has the pleasure to enclose herewith the
formal certificate on completion of the structural improve-
ment of the premises belonging to the London Dock Com-
pany, as also • copy of the circular letter and plan sent by
me %peach of the fire offices I take this opportunity to state
how very much gratified the committee were at my
report of the truly important and valuable nature of those
improvements, and how well they appro.:SW the scrupu-
lously honourable, energetic, and liberal manner in which
the several works have been performed ;" and the directors
have the pleasure to state that, while the requirements have
been satisfactorily effected, the alteratioos in the Crescent
warehouse offered an opportunit for providing some further
accommodation foe wool, which was much required ; and
the whole of the works have been douse at a cost below the
original estimate. Of the balance standing at the credit of
profit sod loss, the sum of 170,7251. consist, of the amount
of outstanding charges on goods in the warehouses. The
stock of goods I. the warehouses on the 30th November
last was 124,688 tons. At the eta time in 1861, it was
131,159 toes. The proprietors will has noticed an increase
of 4.2001. in the expenditure for rates sod taxes during the
past half-year, compared with the corresponding period of
1861, which arises from a payment on account of arrears
of rates in the parish of St. Paul, fthaderell, under • recent
award. Before the construction of their new entrance and
dock the company was rated at 3,2501. for property in that
pariah, and subseqiumatly the premises purchased for those
works were rated at the respective assesamerits to which
they had been previously subject, resulting in • total
aseemment of 8,0581., at the latter part of 1860.
' The trustees thee reemessed the company at 90,0001.,
which the directors were advised by oompeter
surveyors very far exceeded the rateable value of
the company's property in the parish, and after
fruitless attempts to obtain any material reduction therein.
the necessary proceedings for appealing against the said
assessment were adopted ; but prior to the hearing of the
appeal a reference of the matter to two arbitrators sod an
umpire was agreed upon, and Mr. George Pownall, a sur-
veyor of eminence, was appointed umpire, who, in cones-
games of the disagreement between the arbitrators, made
his award, fixing the company's rateable value at 26,200/.
This award approximated so nearly to the assessment, and
differed so widely from what the directors bad been led to ex-
pect, that they obtained in writing from the umpire an
explanation of the principle adopted by him, which
they were advised was contrary to the rules laid down by
the Court of Queen's Bench is similar cases ; and on this
ground the directors felt warranted in applying to that
court to set the sward aside; but the court declined to enter
into the question whether the principle adopted was correct
or otherwise, considering that as the whole mattes had been
referred to arbitration the award was binding and should be
carried into effect. The proprietors will understand that I
this decision governs only the rates which had accrued
during the negotiations, and it will be for the directors,
under the advice of their counsel, to consider and determine
on the course which the company ought to tale in respect
to future rates, if this *semisweet is persisted in by the
parish. The warehouse in Lime-street constructing for the
company by the Purchasers of the India-house is fast ap-
proaching completion, and it is expected that it may be
opened for business by or before March next. The directors
are warranted in believing that this warehouse will be the
means of bringing the company a god sham of the silk
trade, and that coupled with the advantage of removing
their City offices from Benk-buildioge to this locality, will
materially promote the company's interest. The directors'
agreement with the Blackwell Railway Company imposed
on that company the obligation of making the branch line to
the London Docks, at an outlay not exceeding a sum
named. Difficulties' in acquiring some necessary property
on reasonable terms have occasioned delay in the execution
of the works, but the junction of the branch with the main
line is being made, and other portions of the work are in
hand, so that the directors are assured that railway com-
munication to the docks will be completed by midsummer
next.

The resolution for the adoption of the report was carried
unanimously, the dividend of If. 5.. per cent. for the half-
year declared, and a vote of thanks to the chairman and
directors concluded the proosedions.

SOUTH EAVTREN RAILWWL—The South Eastern
Railway Company propose, at as estimated expense of
130,0001., to improve their railway and harbour oommusica-
tics between the main line and the continent at Folkeetooe
by • short lice from Chariton to the western platform of
the harbour station, aleo by a junction between the limns-
gate and Margate It.Wlways, combined with a widening and
improving of the Margate branch line. The company will
also borrow a further sum of 45,000/.

EAdeertineMentj HOLLOW/e'en OINTMENT AND
tau.—Female Comp Ma—Many complaints &rim in women
Der neglect or inattention during youth. Then is the Suing
Wee to reduee all functional Maturbances to order once set
Mint On further Irregalsritim will occur. Holloway's Ointment,
well rubbed down the whole length of the spine twice a day, cor-
rects ail derangements both of nerves and circulation. It may
be usial with the most perfect coundenoe. In MI the ailments
dependent upon excessive nervous sensibility, It is a specilic such
mno ,llscovery has heretofore presented. Holloway's Ointment.
aided by the internal me of his hits, is a healing helm in cases of
Whmith arising from over susceptible nerves so frequently
affecting our wives and daughters.