The Express.
London, England, 1864-12-27 00:00:00

ORIENTAL INLAND STEAM COMPANY.

The report of the directors of this company to
the annual meeting on Thursday states that at the
last meeting the shareholders wars informed that
the company had three steamers at work on the
Indus; that the liability to the bankers had
been reduced to 15,5001.; that all debts bad been
paid at Calcutta; and that the working account gave
clear evidence of a far different result from that of last year.
Since that period the directors hays received further MUM
upon bonds, enabling them to reduce the debt to the
bankers to 10,5001., and sufficient remittances have been
sent from Ku:lichee to mete the payments for interest on
bond and loan accounts to the 30th September, besides
providing for the current expenses of the company in Lon• don. Thais remittances would have beau larger but for
loam of tiros occasioned by the continued priming of the
Jhshim's boilers, and the detention of the Saone fur a
thorough overhaul after her voyage from Calcutta. At the
date of the last &deices it was expected the Sane would
be at work in a fortnight ; sad, as full instructions had
been sent oat for remedying this one only defect in the
Jhelum, both those vessels would shortly be again in an effi-
cient condition. The Indus had continued to work with re-
gularity throughout the year. The revenue account gives
nine voyages to the Indus, five to the Jhelum. since Jaseary,
and two to the Scans Moe May. The groin receipts on thew
sixteen voyages were 50,1784 4s. 11d., and the gross dis-
bursements, including current repairs, 24,2821. 6e. 6d. ;
leaving as net receipts, 25,595/. VW. 5d., or at the rate of
MAC/. 9s. 10d. per voyage. In the circular addressed to
the shareholders by the board in March last the net earnings
of each steamer, making eight voyages, were estimated at
11,6001. in the year, or at 1,430/. per voyage. The
experience of the past year is, therefore, more than
1501. per voyage in excess of this estimate, and the opinion
of the most competent authorities is th►t the traffic is only
begins's' to be developed. The attention of the directors
has been given throughout the year to the reduction of the
general charges, and of the working expenditure of the com-
pany. and they trust that the amounts; presented next year
will show a very considerable diminution under these heads.
In fortheraticeof this purpose they have despatched to India
a gentleman of great Indian experience with instructions to
investigate every detail of the company's management, and
with full powers to make such changes as might appear desi-
rable both on the Indus and at Calcutta, closing the
latter agency as soon as practicable. The cyclone,
which occurred at Calcutta on the sth October, seriously
Winged, but maned no total loss to the company's fleet.
The Ganges, Bracey, and Rifle, with some of the date,
weirs driven from their moorings on to the opposite bank of
the river. Tue &assay and Rifle have since been got off,
and the Ganges, which is reported to have received no
damage, was expected to be floated at the next 'pang tide.
The directors have received from an engineer of ability and
repute in Calcutta, a most satisfactory report on the
Ganges and Janos. As he certifies that both can Abe
made thoroughly efficient vessels for a small outlay,
&marinade have been made far his carrying out
the alterations without delay ; as whether for sale
or charter, the money would doubtless be well expended.
In order to stiengtben the company on the Indus the direc-
tors had given instructions to send the Gore and Brassey
to Kurrachee this season ; but it is not probable that the
Brassy, owing to the great demand for labour in Calcutta
consequent upon the cyclone, will be repaired in time.
The Oogra was undergoing the necessary overhaul when
the last mail left. Three of the fl►ts have been shipped
in pieces in a sailing vessel, and have, it is believed,
reached Kans.:hoe before now. Some time since the
directors sent orders to the scents at Kurrachse sal Cal.
mitts, to forward to the London office a complete inven-
tory of the property of the company—vessels, land,
buildings, stores, ke., with a statement of their present esti.
mated value annexed to the original cost, as they were aware
that much of the property, especially stores, had becondi
espreciated, while on the other hand they had reason to
believe that the freehold premises in Kaneohe', and the
lase of yard at Calcutta, had risen in value. It was their
desire to have placed this matter before the shareholders
in this year's accounts, but the DOW arrival of these state-
meets prevents their doing so. They have, however,
resolved that the Sutlej shall no longer stand on the books
of the company at its original cast, and have written off
17,100/., it having been found that abe cannot be advanta-
geously repaired. They have also written off the entire
cost of the fiat Calcutta, lost on the voyage round to Kur-
rachee. The cost of maintaining the company's property at
Calcutta, amounting to 13.01564. Itts.Gd., have been placed to
capital expenditure. Owing to the recent extreme dearness
of money, the directors have not pressed the issue of the
remaiuipg bonds, bat intend to offer them again shortl►,
giving. as before, a preference to shareholders. In 000clu-
siou, this directors cannot hut regard it as a satisfactory
feature that, during a year of much straggle and difficulty,
the net receipts on lass than the average working of two
steamers on the Indus, have defrayed all charges at Kurra-
chee. Mooltan, and the sub•ao;encies, as well as those of the
London office, sod, after charging depreciation and in-
surance at ten per cent. on the value of the stock employed
in arcing revenue, leave a balance of Val:. Ga. 9d.. to be
carried to next year's account. They refer with consider.
able satisfaction to this. as it proves that the energetic and
economic working of the Indus with suffi4ent plant will
matarially alter the position of this company, leavioglittle
doubt that at this time next year they will be jastined in
recommending the payment of a dividend.

A SOrTIIERS Aiiitlt'CLTl-EAL AS,OiIATION.—We
, (S,.,(fA Zs., ra Gaunt I understand that a society has been
formed, called " The Sonthern Agricultural Association,"
which is to include the counties of Surrey, Susses, Hants,
Berke, and Oxon. It is proposed also to include the
county of Kent. if sufficient support is afforded ty the land-
. lords end formers of the county. The association 6 formed
upon the model of the West of England sod Rath Societe,
and is under the presidency of Viscount Eversley.
"RESERVED SEATS" AT EXETER HALL.—A
. correspondent of the TV** writes:—" I wish to call your
attention to an incident which took Place at the commune-
meet of the perform...e of the 2lfes.i.M at Exeter Hall
Wit evening f llrc. 2"1.1 Mr. Sims !Leered hail scarcely com-
menced the introductory solo when he was interrupted IT
a complaint from one of shout a dozen gentlemen who
were unable to obtain state for which they had paid ta.
under the title of ' reserved seats.' Mr. Reeves sat down,
and the managers placel the complainant and his friend in
the haltiruinea seats. Two other gt I, demeu also demanded
evils, and after being trot threatened a ith forcible expul-
sion, and then offered the return of their money, were at
length similarly accommodated on announcing their Mtn-
tien of writing to the Time's. Now sir, I submit first, that
it is dishonest to sell numbered tickets, marked 'reserved
seats; when the sesta themselves are not oily not num.
bered, but insufficient to accommodate all the holders of
such tickets ; slid. secondly. that the state of mind inducted
by a hot dispute with officials, by turns insolent and
eringiag. 14 eminently undesirable for the proper enjoyment
of sacred music."
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EALING STEE.?LECHAsEI.—A placard was posted
early yesterday morning at Peddington end all the stations
cm the Metropolitan Railway. announcing that in conse-
quence of the frost Filing steeplechases were postpused
until further notice. and that the special trains advertised
to run to and from Filing were also countermanded.
A WOMAN KILLED ON THE LONDON AND
litamirros RAILWAT.—W bile an early paseenger train from
Landon to Brighton on Sunday morning wu pining a cross-
ing neer Renate, the attention of the engine driver wu
directed to the mangled body of a female, who is euppoind
to have been killed on the line in the course of Saturday
evening by being run over by a train.—Suasc.c Adrertiaer.