The Express.
London, England, 1863-02-09 00:00:00

MgrIOPOLITAII.

The report of the director. to the halt-yearly
meeting of this compsey on ',Vedneeday seri meg:rata-
btes the proprietors en the opening of tbe railway. The
delay osaiaimed by tie requirements of tle Beard of
Trade in reference ho the system of mires* bee perhaps,
upon the whole, been productive of good, Mammoth u the
rumour; of the trains for peeroger traffic was thereby
deferred until the entire railway sad steams were
to o .tuts et mere thee ordinary efficiesey. The
traffic for the Ant three weeks after the opening to the
public oe the 10th of January gives the follow's. result :
yerringdoo-strest, number of poisoner. 187,107. meant
2,3831. Os. 9.1. ; King's-cross, 98,827.1,010!. 0. M.; Gower-
street, 71.454, 6XI. 175.; Poetised-raid, 53,443, BOW.
8., 44. ; Baker-street, 45,841. 5921. 15a 2d. ; Edgwararoad,
6841. 19e. 74. ; Bishop's-road, 100.007, 1,3 m&
16s. fld.. Total number of paserapere, 813,116; easeeet.
TAIL 17.. Bd. Average per,week, 394,374 2,4241, ;
average per day, 29,196, 346/. 7s. 6d. Wheal con-
sideration is gives to the fact that the local traffic
of the line, from whence the above receipt.
are entirely derived, is only cu. of several source, of re-
venue for which the Metropolitan Railway wee constructed,
and that all the other sources are still untouched, it must
be manifest that the prospects of the shareholders are of
the most promising descriptico. The plant has hitherto
proved insufficient for the proper conalact of the unprece-
dented amount of the traffic, but no exertions. are being
spared to supply the requisite plant for the earrmge of the
vast number aurorae who amen:ices to travel over the Hee.
The extent to while the milerey is Dow daily used is limited
only by the amount of seoommodat!on which is afforded.
The communicatiocis with the Great Northern Railway will
be ready far MO is • few weeks, sad it is matter d 00.•

TH

gratulation to the directors, seeing the magnitude of the
traffic by which the existing hoes are already occupied,
that the compeer. have acquired the bulk of the property'
necessary for widening the railway between King's.
emus and the City for the better accommoda-
tin of the large additional traffic which may be
expected to pass over that portion of the line.
The corporation of London are actively engaged in obtaining
possession of the neoesaray lands for the site of the new
markets at Smithfield sod the approaches thereto, and the
company have served the notices for such further lands as
will be required to continue the railway to the goods station
which is to be formed under the markets. As the large
receipts consequent on the carriage of goods are dependent
upon the completion of the station for their accommodation,
the works will be commenced with all convenient despatch.
Great as is the present traffic, experience already gathered
justifies the expectation that, when the railway is com-
pleted to Moorgatestreet, the receipts will be enormously
increased. The directors coosider it therefore advisable at
once to raise the requisite capital, and proceed with the
construction of the Finsbury extension ; and being informed
that, if the works be commenced early in the spring, the
line to Moorgatestreet may be completed and opened for
tragic by August, 1864, they will submit resolu-
tions for the creation and Lune of the stock for the pur-
pose. The amount of the share capital authorised for the
extension is 500,00 W., which it is proposed to raise by
the creation of 50,000 ordinary shares, of 104 each, the
whole amount thereof to be called up within fifteen months,
by intalmente of 20 per cent., with the privilege of paying
up all or any of the instalments in advance, snd receiving in
respect of such advances interest at the rate of 5/. per cent.
j per annum. As the Finsbury Extension will not be com-
pleted and earplug revenue until after June, 1864, the new
shares will only participate in dividends earned out of reve-
nue accruing after that date. It is intended that the new
shares shall be offered at par rakishly to the pineal holders
of ordinary stock, and that any not taken up under such
j option shall be allotted amoopt such of the holders of pre-
ference stock who shall make application for the same in
the manner and within the time prescribed. The proprietors,
both ordinary and preference, are referred to the proposed re-
solutions accompanying the report for thedetaih of the contem-
plated issue of these shares Arrangements are in p
which are likely to ensure the curly completion of the short
line between this railway and the London, Chetham, and
Dover Railway, at its station on the northern aide of Black-
friars-bridge '• by means of this short link the traffic of the
Great Western and Great Northern Railways, as well as the
local traffic of the line, will beplaced indirect communication
with the southern suburbs of London, with ports on the
southern coast, and with the continent. At the last half -
yearly meeting authority was given to raise 300,00 W. as pre-
femme stock at 5 per cent. This capital was created with
the view of furnishing the company with funds to finish the
I railway, without compelling the sale at disadvantage of the
surplus lands. If the money had been raised by_mortgap of
the surplus lands, the interest thereon would have been
payable out of capital, but, as this would not be expedient
in the can of stock, the directors will reoommend the pro-
prietors to pay the preference dividends up to the 31st De-
cember out of the rents of the surplus lands, which are
more than adequate for the purpose. Tho expenditure of
the company to the 31st December last Maude, upwards of
82,000/. paid for lends and works not yet earning revenue.
The only parliamentary measure of the company has
reference to making the accommodation at Smithfield
and at Finsbury more convenient, and improving the
Baker-street and Gower-street stations. In reference to
the arrangement upon which Mr. Parson accepted the
office of deputy chairman, and which devolved upon him the
constant supervision of all matters connected with the pur-
chase of the lands and the construction of the works then
contemplated. the directors propose, from the benefits which
they consider the company to have derived from Mr.
Parson's vigilance and attention, to secure his active aasist-
nee in carrying out the Finsbury Extension.

VICTORIA STATION AND Pncuco.—The report of
the directors states that the expenditure upon the station
construction account since the last report amounts to 22,5001.
There remains to be expended but 7,1984 to complete the
106.0004, to which this company's outlay on the station is
limited by the agreement with the Too, Chatham, and
Dover, and Great Western Companies. Seven thousand
pounds of the surplus debentures have been paid off ; the
remaining 60,7604 in metes fall due on the 30th of June
next, and the director find that the amount of preference
stock which they have been authorised to create will be
sufficient to my these off, and to discharge all the known
liabilities of the company. The capital account will thus
be kept within the 500,000 i. named by the directors. The
traffic upon the line has increased beyond all expectation ;
and the difficulty experienced by the Brighton and Chatham
and Dover Companies in meetiog the requirements of the
public hes led to the deposit of plans and to the introduc-
tion of bills by both those companies in the present session,
for the purpose of widening the line. and increasing the
exiting station accommodation. The revenue account
shows a disposable balance of 10,0351. Bs. 6d., and the di-
rectors recommend the distribution of 24 per cent. for the
past half-year, making 44 per cent. for the year 186'2.

NAVAL AND MILITARY.

ADMIZALTY, FIR. 7.-.

T. Harvey, to tie Coleman; vies Carnegie ; and E. dedd, to
the Hawke, vies Harvey.
Masters ft. Thomas, to be additional to the Finpard, for
Derek. at Somerset-bowie ; D. J. Loattid, to the Hogue;
and T. Potter, to be additional to the Alia, for service in
the Hannibal.
Mr. A. K Dillon has been nominated to a naval cadet-
ship.

FORTSMODISt P. 8.

Pros-Admiral Sir Henry Feld •
Tim to her Majesty as Cabers. yesterday.
A private correepondeot, writing from Hoag-Kong on the
14th of December, says :—"ln the expedition which set out
into the country from Shanghai, to repel the rebels, the
Euryalua, screlpate, lost by cholera and dysentery,
Captain Jones, Marines; lieutenant Barnard, R.N.;
Mr. Kelly, mar a assistant, and 27 men ; there being also
• large number on the sick list, not expected to recover.
Commander Parker and Mr. Jafries, midshipman, ham
been invalided, and scarcely a man escaped sickness to a
greater or lees extent. The Euryalus bad only one man
wounded, nernely, J. Bilberry, gunner's mate, who was shot
in the thigh. The city which we took I. called Kabding, or
Kidadeen, and is surrounded by a wall 00 feet high and 40
feet thick. We stormed it after 2i hours' bombardment,
the first mace on the wall being Thomas E. Byrne, wester.
atarms of the Enryalue, who was appointed provost-
seerehal with the expedition. There was great slaughter
ist the town, and when we entered we found the streets
strewn with the dead and dying. A court-martial has
been held on board the Sanapared. to try James Colman, a
manne, belonging to the Primer Charlotte. for disobedience
of orders, and for using Insulting language to hie
superior °Meer, the gunner of the Princess Charlotte.
Prisoner pleaded guilty, and was sentenced to
receive 48 Isalies, and to be imprisoned for six months. A
court-martial was also ordered to be held on board the
Princess Charlotte, to try Mr. Alfred Itobt. Browne, acting-
arced master of the gunboat Coc.kebafer, on three c
seemly, neglect of duty, embeadement, and desestiols..lt
court was ordered to assemble es the morning of the Bth
of December, but on the night of the 7th the prisoner again
deserted from the Princess Charlotte, while under arrest,
and bag not been heard of since,

We regret to bear (says the Army and Nary
Garafe) that another court d inquiry (wader the presidenof
of Brigadier. General the Hon. A. Gordon) has bora occupied
is ismetigating a ems of practical joking. As in the het
histanosoi cavalry regiment—the 4th Hussars—is she corps
whom reputation is thus called in (location. We do not
deem it necessary at prompt to go into the precise accusations
made, but we cannot avoid expressing regret that any gen-
tlemen of the army should be addicted to pursuits only to
be amounted fia by an orer•iodulgence in wine, or by a
nature in which the growth of the mind has greatly failed
to keep up with that of the body.