The Express.
London, England, 1864-08-15 00:00:00

GREAT NORTERRN RAILWAY.

The directors of this company state in their report
that the capital account steads as follows :—Reosived to the
30th of June, 13,144,2361., sod expended 12,897,913/..leaving
a balance of 246,3231. The total expenditure on capital se-
count daring the half-year was 168,500/.. of which 31,1204
had been paid for lead and 46,1451. for works, comprising
enlargements of the King's cross goods and coal stations. the
widening of the line and additional sidings at and Dear Loa-
ders, and sundry works necessary to accommodate the traffic
at various other points. The subscriptions to other under-
takings connected with the company amounted to 76,2901.
Twenty new engines and 500 waggons suitable for the
carriage of goods and coal had been contracted for to meet
the requirements of the traffic. The new ordinary stock
was allotted to the proprietors, and 782,9904 stock out of
a total of 637.0664 was duly taken no. including the pre-
miums and calls paid io advance 438,7121. had been received
thereon. The gross receipts for the past half-year amounted
to 633,8144, the gross expenditure to 441,4534, lenviag a
balance of 392,3611. To this was added 2134 from the pre-
ceding ball-year, and 8,4001. due from the Eastern Caus-
tic. Railway Company, making 400,974/., against 328,6794
for the Corr sponding half of 1863, showing an increase of
72,295/. The fixed charges, including interest on loses
and preference shares amounted to 266,2531. leaving a
net balsam available for ordinary divideods of 134,7214
against 102.539/. for the corresponding half of 1863, alsowieg
an increase of 32.1224 The balance of 134,7211. would
enable the proprietors to declare • dividend on the original
stock at the rate of per cent. per annum. In the oorre-
spending half of 1863 the dividend was et the rate of 4e per
cent. per annum. For the half-year the proprietors would
receive 2!. 15.. par cent. on the original stock, 31. percent.
on the B stock, and 2/. 105 per mat. on the A stook, sad
17e 9d. per meta would be paid oa the tint instalment of
1 the new ordinary stock, being the proportion of dividend
' dm thereon from the 2nd of May last, leaving • balance of
1,4214 for the seat account. Is the coaching traffic re-
ceipts there was a gross increase of 33,606/.; in the merchan-
dise and cattle traffic of 40,8771., and in the mineral traffic;
of 52,5454, those, with other smaller items, made • total in-
creased receipts of 126,8211. A portion of We iocrease was,
however, attributable to the whole of the receipts from the
trade of the Leeds, Bradford, and Halifax and Bourn
and Esseadine railways being included in the amounts for
the half-year, so that to make • fair comparison with the
corresponding period of 1863, the rents payable to the above
company should be deducted, and this would reduce the
thersw to about 105,0001. In addition to those reels the
fixed charges included for the first time dividend for the
half-year at the rate of 5 per cent. per Ileallife on 359,7411.
of the irredeemable preference stock of 1861 • and dividend
and interest was also payable in respect of 39i,625/, received
on account of the new ordinary stock created is April Lae.
The charge for interest was also greater. The expenditure for
the half-year was 54,6131. above that of the corsepeedies
period, and itieleded the cost of working and maintaining 23
miles of railway and 12 stations on the Leeds, Bradford, and
Halifax line. The report adverted to the Greet Eastern
Company's bill for • bee from Loos Stanton, • few miles
aorth of Cambridge, yid Peterborough, Bourn. Sleaford,
Lincoln, and Galesborougb, to DOOQUIIee and /Lamm
passing through the district situate between the Great
Northers mails and loop line'. This proposed line, leder!.
leg breaches, was about 134 miles is length ; a great por-
tion of it would have passed within • few miles of existing
railways, lied it was also for many miles almost idestkal
in its course with lines projected by the Great Northers
Company to meet the local wants of the district. To
remove any protases for the emestroalan of this railway,
the Great Northern Company, early in the year, proposed
to the directors of the Great Eastern Company to enter
into arrangements for the exchange of traffic facilities.
with a view to secure to each company the right to send
and receive traffic to and from all Mate oe and beyond the
lines of the other company ; the rates to be fixed by agree-
ment or settled by arbitration, and the receipts to be divis-
ible in mileage proportion ; authority to be also delegated
to an arbitrthor to great running power to either oompasy
in the erect of his (the arbitrator's) deciding that the Milo
of such company was not conducted efficiently or is good
faith by the other. Those proposals, although hued on the
previous experience of this and other companies, were not
accepted, and the direeton had therefore so altersative but
to appear is support of the company's interests before a par-
liamentary committee,. After • leagthened investigation of
25days the committee of the House of Commons decided
unanimously against the Greet Eastern Bill, and granted
this company's application for a line, in completion of
their loop line, from Osissbnrough to master, and for a
line from Lincoln to Honiogtee. These bills also sag>
rised the amalpreatios of the Boston and Sleaford and
the 11411 TO and Pesendiee Companies with the Great
Northern Company. The Houle of Commons committee
further ordered clauses to be inserted in the Great Northern
hills to secure to the Great Eudora Company trade facili-
ties on terms similar to those previonely offered by the Great
Yorthers, but refused by the Great Eastern Company. Not-
withstanding this decision, the Great Eastern Complier
appeared we opponents to thus company's hills before the
Lords' committee ; but after • full hearing the Lords ran-
firmed the decision of the Commons by declaring the pream-
ble of both the Great Northern bills proved, retail:deg also
the facility clauses Needed is the Commons. The powers
granted by those clauses could be exercised immediately
by she Great Eastern Company if they elected to do so, and
the directors repeated that they were ready to enter iota
mutual arraagementa with the Great Eastern Company for
the receipt and tranoniision of the traffic of the two °m-
eanie', upon terms which experiesos had proved to be
maths'!, advantageous, sad which, while they afforded
ass tprotection to the companies concerned, avoided the
outlay of money in the coestmction of Dew and un-
sameary lines and the wasteful expenditure inevitably
eataflact by prolonged parlismeatary mutest& Pursuant
to the provisions of the C.'hathani Company's Act the meet.
fag would be made inertia to raise the 300,0004, to bead.
minced to that company at SS per cent. interest. The
directors remomeoded that the 300,0004 should be raised by
the issue of • further amass of new ordinary stook, to
be offered to the proprietan es the same term as that
recently ereated. The estimated liabilities of the company
on capital mount in respect of works in course of cos-
structioo, new rolling stock ordered, end land purchase.,
ke., was 946,5611, tad the mete is °Millar, and preference
stocks, 1,120,4901., shown.' &surplus of 173,0001.

This Tar 9T. Luxa's.—From a late hour on
Friday sight tall an advasoed hour on Saturday inaraiog a
destructive fire raged in the extensive premises Worming
to Meson. Cooper mad flnit, Bunhill-row, St. Luke's, far-
niture dealer, aad upholsterers. The Sr. has lad Ropily
ia ruins to the value of some thousands of pounds. The
disoovery wax made by workmen. The engines from
Whitecrose-street, under the direction of Mr. Fban, of the
A section, got to work in Ent-rate style, with the assistance
of Messrs. Shand, Mama, mad Co. A good supply of water
heist °Melee& the fire was subdued, hut not until the pre-
mises wee nearly destroyed. Mr. B. Longboat, of the
bleveantile Fire losurance Office. in which astablishmeot
the premises an imam& hes made an lareetigatiou, but the
ammo camas% be asserlaised.