The Express.
London, England, 1853-06-11 00:00:00

SOUTH-EASTERN' RAILWAY.

The following arc extracts from the report of the
directors to be presented to the proprietors at the special
general meeting to be held on the 21st inst.:
" The special general meeting of proprietors is convened
in pursuance of the standing orders of the House of Lords,
for the purpose of considering the following bills promoted
by the company which have passed the House of Commons :
the bill to effect the junction or approximation of the sta-
tions, at Reading, of the Reigate, Guildford and Reading
branch, and of the Great Western Railway ; the bill for
enabling the completion of the purchase of the Canterbury
and Whitstable Railway, and the steam ships of the South-
Eastern and Coninental Steam-Packet Company, and the
raising of additional capita! for those objects, and for the
general purposes of the company ; the bill to authorise the
company to extend the North Kent line from Strood to the
existing line and station of the company at Maidstone, and
to raise capital for the purpose ; and the bill for reviving
the powers for the purchase of land, and for extending the
London Bridge terminus; and to authorise the diversion
of a footpath at Redhill ; and the substitution of a level
crossing for an existing bridge over the Bricklayers' Arms
branch.

" The accompanying report from the committee of pro-
prietors appointed at the last half-yearly general meeting
of the company to be associated with the directors, to con-
sider the question of the closing of the capital account of
the cowpony, and the policy of the company with reference
to the measures promoted and opposed by it in parliament,
leaves little necessary for the directors to add regarding the
business to be transacted at the special meeting to be held
on the 21st instant. The directors feel it, however, to be
their duty to invite the cordial co-operation of the proprie-
tors in passing the measures to be submitted to them, all
of which are, in the opinion of the directors, of important
consequence to the interests of the company.
" With reference to the parliamentary policy of the com-
pany, your committee found the following measures, pro-
moted by other parties, being opposed by this company, vim :
the East Kent line; being that from Strood to Chilham and
Canterbury; the Chatham and Canterbury (local) line ;
the Staines, Woking and Wokingham line; the Brighton
Company's London Station Enlargement, and Crystal
Palace line; the Great Western Reading extension line;
the West End of London and Crystal Palace line. Tho
grounds on which the directors have proceeded in opposing
the whole of these schemes have been fully stated and ex-
plained to your committee, and they have to express their
concurrence generally with the views which have influenced
the board in offering opposition to these projects."
The committee next gives the present state of the pro-
ceedings in relation to each of the above projects, and then
states that " The measures promoted by the company,
which have engaged the earnest attention of you corn-
mime, are as follow: The Lewisham' Bromley, and Croy-
don line, the Strood and Maidstone line, Reading Exten-
sion and Station, Canterbury and Whitstable Railway
Purchase, Steamboats Purchase, branch from Charlton to
Blackwell Point.
" Your committee now proceed to state the result of the
consideration they have given to the question of the further
capital of 300,0001 stated by the directors in their last half-
yearly report to the proprietors to be required for the
general purposes of the compan permissive power to raise
which sum is included in the bill for the like power to pur-
chase the Canterbury and Whitstable Railway and the
steam-boats. Of the 300,0001. so stated t 8 be required„ the
sum of 70,0001., as the estimated cost of works in progress
on the 31st January, 1853, was submitted to and received
the approval and adoption of the last half-yearly meeting.
Your committee have, therefore, no observation to wake in
reference thereto, except that the particular items of
which such sum of 70,000!. is composed have been
laid before them, and fully bear out the requisition of
the board and the consequent resolution of the proprietors.
Your committee have had laid before them detailed esti-
ampaptleys
tohfe thfuert ohbeteestsumto wof2hwichooothi.e; diarnedctoarftsepr raopcoaserefulto
consideration of particulars, and having examined the
engineer and other officers of the company in reference
thereto, your committee have arrived at the conclusion that
it is expedient for you to sanction the pending application
to parliament for power to raise that sum, which will re-
quire to be expended, according to the evidence alluded to,
in completing the works, buildings, and stock necessary to
the full development and efficient and economical working
of the company's traffic.
" The financial position of the company, with reference
to its ways and mewls for meeting the existing liabilities on
capital account and the further contemplated expenditure
for general purposes, including the purchase of the Canter-
bury and Whitstable Railway, and the steamboats, as de-
duced from the accounts of the company and the estimates
laid before your committee, may be stated as follows :
Liabilities.
Ist. As to expenditnre to January 31, 1833
Amount of payment in excess of receipt
on capital account, as per published
accounts £331,381 0 1
.

To provide for unsettled land purchases
costs relative thereto, and sundries.... 12,162 7 1

1:313,746 7 2
2nd. Further Expenditure.
Work iu Progress 31st January, 18.3 70,000 0 0
Further Works, buildings, and rolling
Stock, as set out in this report 229,720 0 0
Canterbury and Whitstable Railway and
steam boats purchase 200,000 0 0

Total

Ways and Means.
Further parliamentary powers in the bill
for the purchase of the Canterbury and
Whitstable Railway and Steam-boats,
mid to raise mouey for general pur-
poses
2xisting assets, 31st January, 1853, con-
sisting of calls in arrear (since realised)

92,821 0..0

and other items
Surplus land and other property, a de-
tailed statement and valuation of which
have been submitted to the committee,
amounting to

Total £930,036 0 0
So that in event of the whole of the surplus land and
other property included ia the above statement being rea-
lised, at the valuation set forth, there would remain an
excess cf ways and means over liabilities and expenditure to
be provided for, of 86,5691. 12s. 10d. ; but inasmuch as the
Company's surveyor reports that it would be expedient to
retain certain specified portions of that property for com-
pany's purposes, the item is not to be regarded ,s present-
ing an available asset to its full amount ; but, nevertWer,
as available to an extent sufficient, together with theroMr
assest, to meet the liabilities and expenditure 'Maui.