The Express.
London, England, 1862-08-04 00:00:00

MID.KENT RAILWAY.

The report of the directors to the meeting to
be held this day (ffieeday), states that the traffic for
the past six month* shows • satisfactory increase
over that of the corresponding months of 1861. The
balance at the credit of the revenue account is
1.631/. 18a. 3d., which enables the directors to recom-
mend • dividend for the half-year of 21. per cent.,
insteul of 1/. 10s., which has been the rate for the corns-
pooding half of the four preceding years • leaving a balance
of 102/. le. to be carried forward. It is recommeeeed
to the proprietors that the additional capital which will be
required for the construction of the Addiscombe line should
be raised by the creation, under the powers of the recent
Mt, of 9,000 shares of 5/. each, bearing • preferential fixed
dividend of 5 per cent. per annum, secured on the net la
ceipis of the existing railway and on those which will he
derived from the new line ; although there is little doubt
that the receipts from the important district which the ex.
teusioo will open up will more than suffice for the interest on
its oust, mid 'hue leave the large acceasionof new traffic which
lE will bring on the main line to increase the dividends on
the original shares. It is proposed to make the amount (ii.)
of each share payable in four instalments; the first, of 21,
on the Ist day of September next ; and the others, of 11.
each, at intervals of three months; namely, on the Ist day
of December, 1862, the lst day of March, 1863, and the let
day of June, 1863. SLareholders will, however, be allowed
at any time to pay up their shares is full, and the fixed divi-
dends of fd. per cent, will run from the day of payment
either of each instalment, or of the amount in full. The
hon.payment of any instalment within the time stipulated
will render the share liable to forfeiture. at the discretion
of the directors. The shares will be offered in the first
instance for distribution rateably amongst the existing
proprietors according to their present holding of shares.
The directors believe that this arrangement will be found to
be the best for providi .g the funds, and secnring the rapid
construction of thn line, the importanze of which to the
future prospects of the undertaking they believe to be very
great. The extension is only 34 miles in length, and will be
extremely cheap to construct. The engineer has already
coueloded the terms of • contract for the works, for an
amount within his estimate, and it is expected that the line
will be completed and open for public traffic in the early
part of next summer.

METROPOLITAN RAILWAY.

The report of the directors to the half-yearly
meeting of the compway on Wednesday, August 6, expresses
their regret that the proprietors should again meet before
opening of the railway. The report of the engineer, how-
ever, shows that the railway itself is sow practieally com-
pleted, and that the °maim of the line for public traffic
bas become a question only of weeks. The relations of the
company with the Great Western sad Great Northern
i
Bail-
way Companies sad also with the corporation of London
are nit satisfactory state. The Great Northern Company
ban nearly completed their hotel carve at King's-cross.
The Great Western Company have made peat
with the construction of a station at Bishop's-red,
:l-
dingtoo, for the use of this company. The corporation of
London have phased their Markets Bill, and here autho-
rised their Markets Improvement Committee to purchase
the lauds searmary for the station of this sad the Great
Western Companies, wed also for the new Meat-market and
its approaches is Brainfileki. It has now become aseemary
that this company should forth with execute the semen curve
st King's-cross, and make the extension line and station works
eat Smithfield ; it is almdesirable that the company should
be provided with means for widening the line between
King's-crow and Victoria-street. The directors propose
that the additional capital of 300,0004 authorised by the
out of 1861, which they believe will be adequate for all
the purposes of the company, be now created ; and they
recommend that it be raised by &harem carrying a preform-
s tial dividend of 5 per cent. to be offered rateably amongst
the present proprietor& Resolutions for the purpose will
be submitted to the meeting. The raising of the additional
capital will also obviate the necessity fur the immediate re-
sale of the very valuable surplus lands of the eempeny,
which the directors are advised will not realize their full
`sake until the railway is is complete operation.
Ibe directoes have sot yet made say drileite amass-
ment' with regard to the Finsbury extension capital, but
they trust that before long they will be in a position to re-
port that the amangessmts for carrying out this mart &-
Arable potion have bees perfected.

TEE Dianna or TIE COTTON DIMUeFFIL
Wilson Ps the towowor at the eviht had is.
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Fostributio• how epsokor tie Sow of Oammoo.
Gentlemen who isquirs good sad fashionable
Draw cap depend aa 4106 iew noteriel• NI bigot *y. as
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BPOBTING INVILLIGBICCE.