The Express.
London, England, 1862-08-13 00:00:00

LANCASHIRE AND YORKSHIRE.

The report of the directors to the half-yearly
meeting on the 20th instant has been issued as follows :
" The capital account states the amount of share and
mortgage capital chargeable on revenue to 30th June, 1862,
exclusive ot the leased line, to have been as follows : Con-
solidated stock, 12.093,504/. ; guaranteed and preference
stock. 2,671,6751. ; loans, 4,618,6DV. ; moneys in advance
of calls, 136,078/.—total, 19,519,96,W, The expenditure on
capital account for the half-year amounts to 12'J,5151., of
which the following are the principal items :—Oldham,
Rochdale, and Royton line, 44,6141. ; Salford and Victoria
Junction, 12,3171. ; enlargement of stations, 49,006/. ;
working stock, 21,3231. The revenue account shows the
receipts of the company for the last half-year to have been
as follows :—Passengers, parcels, and mails, 324,1011. ,•
goods and live stock, 469,6491. ; rents, 1,2851. ; Preston and
Wpm Railway, 18,5151. ; Maacheater, Bolton, and Bury Canal, 3,5421.—t0ta1, 817,0921. The disbursements as
follows :—Working expenses, 326,342/. ; Preston and Wyre
Railway, 11,2454 ; rates, taxes, and duty, 21,3371. ; Man-
chester, Bolton, and Bury Canal, 1,5941.—t0ta1, 380,5181.
The balance of net revenue applicable to the payment of
dividend on the ordinary stock of the company is 242,212!.
9s. Id. ; and out of this amount your directors recommend
the proprietors to declare a dividend at the rate of 31 per
oent. per annum, less income tax, and to carry forward the
balance, 15,457/. 11s. 4d., to next half-year's accounts.
The statement of the receipt@ for the last half-year shows
a falling off in the revenue of 133,6301., as compared with
the corresponding half of the previous year, occasioned by
the stagnation ot business in Lancashire, owing in a great
measure to the short supply of cotton. In the Yorkshire
district the traffic has been steadily maintained. The work-
ing espeimes of the railway have engrossed much of the
attention of your directors, and they have succeeded in re-
ducing them to a considerable extent. The permanent
wa is reported by the engineer to be in good condition,
and the heads of departments also report that the
rolling stock under their charge is in good order
and repair. A vote was taken et the last half-
yearly meeting for a sum of 40,0001., as being the
probable amount required to be expended on capital accouut
for general purposes during the half-year. The outlay has
been 70,331!.,vie.:—F0r station improvements, 49,t . ;
and for additional working stock, 21,223/. The estimate of
the requirements on capital account for the current half-
year (exclusive of new lines) is—for improvement of sta-
tions, &c., 60,0001. The suffering condition of the ope-
ratives in the cotton manufacturing districts calla for, and
will doubtless receive, the warm sympathy of the share-
holders of this company. Your directors, bearing in mind
that iu the time of prosperity this class of the community
has contributNi largely to your receipts, now recom-
mend to the shareholders to subscribe the sum
of 5,0001. to the fund which is being raised for
their relief. The act of parliament authorising
the construction of the Shawforth branch, and the
acquisition of land at Burnley, Clitherne, and other placm4
for additional station accommodation, has received the royal
assent. The proposed extension of the Barnsley Coal Rail-
way, which, if pasted, would have injuriously affected your
interests, has been rejected by peril/meet. The bill au-
thorising the projected line from Wakefield to Barony-on-
Don and Doncaster, being, in fact, the Wakefield and Doe.
caster line of former years, was passed by the committee of
the House of Commons, notwithstanding the strenuous op-
position of your company. Your directors motioned the
opposition on behalf of your company in the House of
Lords, and succeeded in getting the clauses struck
out which would have given the promoters rimming
powers over your line and the Leeds, Bradford, and Halifax,
and Bradford, Wakefield, and Leeds Railways, now worked
under agreement by your company and the Great Northern,
or the use by other companiesof the st•tions at Leeds,
Bradford, and Halifax. A clause important to your interests
was at the same time introduced iota the bill, preventing
the construction of the branch forming a junction with your
line at Oakecslorw, near Wakefield, without the consent of
your company, under its common seal, being first obtained.
The shareholders will remember that three *themes were
submitted to parliament last session, for makings more direct
railway between Doncaster and Hull, viz., the North Eastern
Company's Hull and Doncaster branch ; the South Yorkshire
Hull Extension ; and the Doncaster, Goole, and Hull lines,
proposed in your behalf. The two latter projects were
rejected by the committee of the House of Commons, and
afterwards the committee of the House of Lords threw out
the bill of the North Eastern Company. The works on the
line from Oldham to Rochdale and Rojton are programing,
ad the directors expect that it will be open for traffic by
the month of June in next year ; and a considerable portion
of the land sod buildings required for the Salford Junction
line have been purchased."