The Express.
London, England, 1849-09-25 00:00:00

rim, sad the moat of the requisite maehisery for trans-
poetise the geeds traffic is balk, the meson Gould
net be expected to approach the meant which it most Isla-
steely attain whoa them impediments are removed. To the
Ferry works especially, and their influenee os the traffic and
iln te, allusion h more than ones been made ; but
it
as
pee to remark, for the sake of distant proprietors,
whom isformatios with respect to the Use Is necessarily ha-
Fidget, that although considerable progrrs has bees made,
these works are yet nclinished, and, eessequently, the va-
rious et:strode:me to the developmeat of the trails which
have bese experieseed daring the last eighteen months stall
centime to be felt. The report of the engineer will, how-
ever, show that tbe works are sow so far advanced u to ad-
mit of the compasy's arrangements being brought late
operatics at a very early period.
The Tureens for the half-year amounts to 52,2291.185. lid.,
to which there is to be added 5,3081. Is. Id., the balance on
the former half-year. Deducting working and other charges,
sad the en= of 10,4461. 6a. 9d. of interest os loan capital,
cbargeabla against the half-yeaz's revenue, there remains
8,5151. 13s. Id.
Out of this sum there will be payable 2,4231., being the
hell year's dividend at the rate of S per cent. per annum on
96,9201 the paid up amount of Greaten preference capital;
and the balance of 6,0921. 13s. Id. has been applied towards
the payment of themes' on those temporary advances fast
hankers and others, which will necessarily be extinguished
by the hinds to be realised from the preference share capital
of tbe ecmpany.
The pamengen and goods carried during the half year
have been :-Ist elan—Passeagen 44,4134; 2nd class,
145,673; 3rd class, 364,887; 4.a ;lase, 101,910. Total,
668,534 p•asengers ; goods sad minerals, 120,b86 tone;
gross receipts, 56,8141, le. lid.
No information of any prettiest value can be obtained by
a comparison of this traffic with that of the corresponding
period of the previous year, the line amiss then been but
partially in operation ; hot does the traffic, of
the ball year ending with January last, being—tat
clast—Paesengers, 4`,•'.99; 2nd clue, 140,236; Sod
class, 362,892; 4th class, 100,964. Total, 648,691 emergent
goods and minerals, 99.661 tons, gross receipts, 64,7071 li. 9d.,
afford any just comparison, there being, in ail eases, a
marked difference in the traffic of the two periods. But, in
the present instance, it is so far satisfactory to perceive that
there is an increase on the groestreffic of the last over that of
the former bEt-year, which Is usually the mat productive.
Although the revenue falls greatly short of its estimated
amount, the directors connive that there is no ground what-
ever for disappointment, seeing, that as regards all practical
results, matters remain as at the close of the former half-
year. Relying, however on the assurances of their engineer,
ea to the period when tie unfinished works will be in a state
'deficiency, the directors anticipate being non enabled to
pessent a much more favourable revenue account than the
present, and one of which the resources of the undertaking,
peat as these undoubtedly are in point of population, manu-
factures, and mineral wealth, warrant the expectation.
EIPINDITMII.—It is sanely necessary to my, that the
obstacles which limit the traffic and revenue have the effect
also of increasing the working expense'. The expenses for
the half-year amount to 38,8301. 2s. 2d. In contrasting the
principal headset expense with those of the haleyear ending
January 31, one or two explanations may be net out of place :
31st January.
LoeeenoUve. Pommes.. Goods and Minerals. Malatenanee.
E a. d. C s. d. E s. d. E a. d.
10,303 16 6 6,356 s 3 4,30311 3 2,9J8 IS 11
31st July.
9,99917 7 7,494 9 7 5,018 0 1 4,01518
31st January.
Barotaland
Tay perry. Tunnel. Oss Works. Glawai
Perry. Charges.
E s. d. E a. d. E s. d. E s. d. E •4.
5,064 911 2,170 e 3 841 0 4 221 19 0 1,418 910
31st July.
5,077 13 11 2,321 6 0 eel lo 3 309 6 3 2,557 2 7
LOCOMOTITI DIIPARTMLIIT. There is • Saying of
5031. 18s. lid. In this department last half year, principally
oa coke and wages. On the northern section, the cost of
this department has been 111 d. per truth, per mile.
Goons D 444444 nerr.—The increase here amounts to
7451. Ba. 84., and it is to be attributed to the large increase
on the tonnage.
PASSIM/Unit DEVARTUMIIT.—There has been a saving is
this department of 8711 12s. Bd. About 2001. of this saving
has been effected by dispensing with omnibuses at Dundee
and Leith ; the remainder hasbeen effected generally on the
other items.
11A1NTENANCE or WAY.—The increase of 1,1071. 3s. 3d.
under this head is to be accounted for by the maintenance of
25 miles of additional line having beets taken from the con-
tractors in April and May last, and fallen upon the company.
The directors have intended a contract with respectable
parties for the future maintenance of the whole line for a
period of years, on terms advantageous to the company. The
rate per mile, inclusive of the wages of pointamen and signal-
men, is 984 17s. 6d,
expense' in this department are much the
same as those of the former half year. The goa's traffic con-
voted in the latter half year has, however, been greater.
RATES AND TAXES.—These have been considerably on the
increase. The poors' rates demanded have, in many cases,
been very extravagant. Should tee principles which have
ruled in several recent decisions of the Engliih courts be
adopted here, a con•iderable relief will be ok:ained, but if
nor, a general legislative enactment will be very much called
for.
Whilst it is apparent that the heavy expenditure is, to a
certain extent, attributable to the incomplete state of the
arrangements and works, still, the thorough investigations
which the directors have personally made into every depart-
ment, satisfy them of the practicability of that expenditure
being considerably reduced. Some of the measures for that
purpose are now in operatioa, and w.LL be followed by others
as opportunity occurs. To be estimated correctly, however,
the present expenditure should be viewed not so mach in
relation to the amount of revenue as to the length of line
worked. With both railway and ferrite in a state of effi
ciency, the consequent in.rease of traffic will not, u in ordi-
nary circumstances, be followed by a proportionate increase
of expenditure ; on the contrary, the directors, with some de-
gree of confidence, look to the expenditure as now at its
maximum.
The expediency of working the railway and ferries by
contract has been well considered, but so far as their pees nt
information extends, the directors incline to the opinion that
working the railway at I• ast by contract would not effect
a saving of expense. With regard to the terries, the cam
may be different. The directors have been able to ascertain
accurately the terms on which the Burntioland Ferry could
be so worked, and arrangements are in progress by which a
considerable geeing will be effected.
The large steam vessel, fitted to accommodate 25 loaded
waggons, has been delivered, and will be employed on the
Burntieland Ferry, so seen as the pier works and requisite
machinery can be completed. This vessel was originally
designed for the Tay Ferry, but the directors being advised
that one of somewhat smeller dimensions would be better
adapted to the landing places and velocity of the tides, it
was thought expedient to place her on the Barntial;nd
Ferry, and to order the second vessel, required of lees sire
and draught of water, but adapted also to carry loaded wag-
gons. By this arrangement • saving of expense will be
effected.
The new pannier vessel, the Express, built by Messrs. '
Miller, Revenkill, and Co., was delivered in Spring, and is
now plying the Burntisland Ferry.
la a former report, the directors pointed out that an ob-
stacle to the traffic, u well as a source of expense, connected
with the Tay Ferry, would be removed by the formation of
the branch at Breughty, to join the Dundee and Arbroath
Railway. Belying on the repeated assurances of the directors
of that line that the construe:the of the branch would be
immediately undertaken, your director held out the prospect
of its being completed by this time, but have been disap-
pointed. They are now informed that it lses been actually
contracted for, and will be immediately coast/acted. Farther
delay sad toss it is therefore hoped will be avoided.
The weeks on the remaining fear miles of the Dnnferm.
line branch are now making wok program as will ensure
the entire branch being mimed previous to November next.
By an agreement entered into,* 1847 to facilitate and save
expense connected with the escasisig of the Townhill trans
way by the Dunfermline branch, that tramway has become
the property of the company at the price of 5,0001. sterling.
By admit junction (the ground foe which is to be provided
by the former owners) the extensive coal traffic passing slug I
the tramway will be brought on to this line. By a mile and
a halt's extension of the tramway a connexion may be ob-
tained with the Well wood coal, which is known to be of
great extent and of superior quality; and it is hoped that
the owners of that coal will shortly and themselves of the
facilities afforded them for forming the connexion.
Since the previous haleyearly meeting, the directors have'
made the following additions to the plant, viz. 500 coal
waggons 20 cattle waggons, 110 goods and grain trucks,
and 20 Passenger carriages.
The important subject of depreciation has necessarily ems-
pied the attention of the directors. They are inclined to re.
commend that the rolling stock, which is now in a very
efficient state, be maintained in that state of efficiency oat of
the current revenue ; and that an annual sum, the amount
of which an be fixed at the next half-yearly meeting, be laid
aside for replacement of rails, theirs, sleepers, &c. They
would also recommend that au annual sum, to be determined
at the same meeting. be laid aside to meet the depreciation
sae replacement of the steam vessels. Meantime the subject
of depreciation will command special attention and ceneder
Woo.
By a temporary arrangement entered into in May last
with the director,of the Scottish Central Railway the tensors
I
Estes tar the two miles of their line made nee of by this com-
paw were fixed at the following : Passenger, Ist dam, BJ. ;
lad clam, 61. ; 3rd class, 4i. • merchandise, le. ; and
'minerals, 6d. per ton. By subsequent arrangetnent these
rates an subject to modification on traffic fa short distances,
sad under special circusitanoes.
Impressed with the desirableness of avoiding a eampetiUms
for traffic, the result of which might, as it has peeved la
many other cases, be productive of great loss to both com-
panies, the directors have catered into an agreement with
the Seattieli Central Company for an equitable division of
tram°, which, it is believed, will be mutually beneficial, in-
asmuch as I; secures to each company its legitimate trade,
and obviates all the evils arising from oompetition at mire-
munerative rates.
At the former half-yearly meeting the approval of the
shareholden was given to three bills then before parliament.
Two of these were passed, viz : Ist, bill for an augmentation
of capital ; and, 2nd, bill for the Greaten Pier &elan and
Landing Slip. The latter contained clauses for authority to
dispense with gatekeepers at certain road-crossings now in
very limited use, but were withdrawn in consequence of the
opposition of parties whose rights were said to be affected.
A clause was inserted in this bill and passed, changing the
fanner name of the company to that of the " Edinburgh,
Perth, and Dundee Railway Company."
The third bill, to enable the company to carry the Dun-
formalise Branch Railway over the Townhill and Halbeath
tramways, the directors withdrew in order to avoid the ex-
pense of a parliamentary opposition, which they perceived

631,5871

to be inevitable; and with the view to an application to the
Railway Commissioners, who (efts, arrangements had been
made with certain parties interested) were btlieved to be
possess( at the requisite powers to enable the ooMpany to
enure the *biome meght for without as stet of parliament.
It has not been neesseary to prosecute this applicatioste
arrangements having been made with she owners of the
tramways to permit the works to
Following out Me views of the r=odis, as expressed by
the chairman at the meeting in July last, with regard to she
audit of the amputee books, written instractkma were given
' by letter addressed to the auditors, of which a copy is ap-
pended to the accounts. Time instructions, while faithfully
attended to, m they have unquestionably been with regard
to the present aceottals, appear to the directors to empire-
bend such an audit as meet give the proprietors the Sunset
confidence in the accuracy of the amounts.
The directors folly relied on being able to submit to the
present meeting the auditor's report on the late Edinburgh,
Leith, and (}canton books; but Mr. Watson states that,
from the multiplicity of the act nets, he has been enable to
complete the audit, and desires to be allowed until next
meeting to do so. I; certainly would have been desirable
had this delay been avoided.
By order of the hoard (signed), Jolts Ruroun. chair-
man ; WILLIAM DUNBAR, deputy-chairman ; HiNRY Luis,
seeretery.—Edinburgh, 18th September, 1849.

485,6(*1

4:34.743 13 3!