The Express.
London, England, 1855-08-18 00:00:00

MIDLAND RAILWAY.

The report of the directors of this company states
that the traffie of the railway during the past half-year
shows an increase of 17,4261. over that of the correspond-
ing half-year of 1864; and, although the increase is less
than the directors have heretofore had the gratification of
reporting, yet, when consideration is given to the feet that
great prostration has prevailed in trade throughout the en-
tire half-year, and that the last winter was very severe and
protracted, both circumstances operating against railway
waffle, they hope the receipts will be deemed satisfactory.
The total receipts for the half-year amount to 760,1601, in-
cluding the balance from the previous half year's accounts,
and the total expenses, interest, end guaranteed dividends,
to 642,1361., leaving available fur dividend the sum of
2(.8,0231.; and the directors recommend that a dividend
(.less income tax) be declared, payable on the let day tf
September next, of 11. 16s. upon each 1001. consolidated
stook, being at the rate of 31 per cent- per annum. The
working sap , calculated as camel, have been
441. Os. 3d. per cent. as against 43/. 13s. 81. per cent. for
the corresponding half year of 1851. It is a source of
name to the directors that the expenses of the balf-year
have so largely increased, and that they are unable t•
recommend • higher dividend than at the eerie-
eponding period of last year. A comparison of the cor-
responding half-years of 1854 and 1855 will show that
the principal excess is due to the increased amount of
the debenture debt, and to the higher rats of interest on
the same, to the increased cost of minerals, for the repair
and renewal of engines and rolling stock, and to the larger
expenditure in labour in the locomotive department, ones-
slowed by the conversion of the broad into narrow gauge
stock for the working of the Bristol and Gloucester line. Mr.
Barlow, the engineer, reports that 61 miles 62 chains of
single line have been re-laid and fi-h.joined, and 34 miles
76 chains fislzjointed, during the half-year, and that these
operations have effected a manifest improvement in the
condition of the railway; also, that extensive sidings for sort.
ing of coal on the Eyewash Valley, and similar sidings tor ar-
ranging empty waggons at Rugby, are in course of construe
lion, and that these works, when finished, will economise
engine power, and will greatly facilitate the working of the
SIPS& The Ripley branch is now ready to receive the
traffic of nearly all the collieries upon it, and the trial,- will
be commenced as soon as the coal-owners have completed
their arrangements. The cortrectors are in possession of
almost all the land necessary for the completion of the works
on the Leicester and Ritchie Railway, and there is every
reason to believe that the line will be ready for opening by
the time stipulated with them, via., the Ist of October,
1856. Mr Kirticy, the locomotive superintendent, reports
that during the six months ending Jane last the repairs and
renewals of the rolling stock Dave been sufficient not only to
maintain Its good working condition, but to increase its effi-
Money.