The Express.
London, England, 1863-08-11 00:00:00

NORTH EASTERN.

The directors of this company, in their report to
be submitted to the proprietors at the nineteenth half-yearly
general meeting, to be held at York, on Friday, 14th August
current, state that the accounts for the past half year
exhibit an increase in the receipts of 63,1121. over those of
the corresponding period of 1862. An increase has taken
place in the traffic embraced in each of the three depart-
meets, but it would have been more satisfactory if the re-
ceipt of this additional revenue could have bean regarded
as an indication of a general revival of trade, after the
severe depression expenenced last year. A oormiderable
portion of the increase may, however, be attributed
to the opening of new lines, and to the construction of new
works for the accommodation and development of the
trade of the district. The accompanying tabular statements
show the receipts and expenditure in the first aix months of
the years 1861, 1862, and 1863, from which it will be seen
that the revenue of the past half-year has not reached the
amount received in the corresponding halt-year of 1861 by
24,3121., although since that date 27 miles of new line have
been opened ; and on those lines, and other new works,
there has been expended, between January, 1861, sod Joon.
ary, 1863, the sum of 1,040,704/. A portion of this atnouct
has been laid out on works which an still unfinished, and
therefore unproductive ; but the greater part has been spent
on lines, rolling stock, warehouses, dm., which have been in
use, and have contributed to the revenue during the past half-
year ; so that the general result of the half-year's working
.howl that with the addition of new lines, and with increased
facilities for traffic in all departments, the depression still
existing in some branches of trade has been such as not only
to stop the usual progressive increase, but to keep the re-
ceipts at a lower point than they were in 1861. These cir-
cumstances have necessarily exercised a prejudicial effect on
the balance available for dividend to the ordinary share-
holders. The proprietors, however, have the satisfaction of
knowing that their property is more complete and secure
than it has ever been before, and that on a general re-
turn of commercial activity in the manufacturing dis-
tricte, they may fairly expect the receipts not only to
attain to, but to exceed any point hitherto reached. The
balances available for dividends on the revenue accounts
of the different sections are as follows :—On the Berwick
account, 160,722/. 7s. 10d. ; and on the Thirsk and Melton
account, 1,5754 lls. ; on the York account, 52,1071. Bs. 3d. ;
on the Leeds account, 13,7031. is. 7d.; and on the
Carbide account, 36,7854 15a. The directors recommend
that out of the above sums, dividends at the following rates
be declared, viz.:—On the Berwick Ordinary Stock, at the
rate of 44 per cent. per annum, leaving 5,0834 le. to be
carried forward to next account ; and on the Thirsk
and Melton Stock at the ate of 4 per cent, per annum,
leaving 575/. Ils. to be carried forward to next account.
Os the York Ordinary Stock, at the rate of 3 per cent. per
annum, leaving 3,81.17. 2s 3d. to be carried forward to next
account. On the Leeds Ordinary Stock, at the rate of 14
per cent. per annum, leaving 63.5/. 13s. sd. to be carried for-
ward to the next account. On the Carlisle Ordinary Stock,
at the rate of 6 per cent. per annum ; nod on the 4 per cent.
preferential stock an extra dividend (to make the dividend
on that stock equal to the dividend paid on the ordinary
Lock), at the rate of 2 per cent. per annum, leaving 6351.
15s. to be carried forward to the next account. The di-
enters have much satisfaction in reporting that the appli-
cations made by the company to parliament in the last ses-
sion have all been successful.