The Express.
London, England, 1853-08-16 00:00:00

GREAT WESTERN RAILWAY.

The directors of this company have issued their
statement of accounts, front which it appears that
18.356,835/. had been received on capital account to the
30th ot June last. The receipts include 1.571,8721. on ac-
count of redeemable 41 per cent. stock. 133,0001. or account
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loan', &c., and 856,0301. deferred coupons on Birmingham
and Oxford and Birmingham and Dudley Railways. The
payments amounted in the aggregate to 18,133,0271.,
leaving a balance of 226,11081. The payments in respect of
the Great Western, Oxford, Berks, and Hants, Windsor,
and other hoes, and for locomotive stock, amounted
to 10.407,773!., and in respect of (353,0001.) estimated
liabilities on the 31st of December, 1849, 256,0321.
was expended ; in respect to the Oxford and Rugby
line, 1,161,20,41. • on account of the Birmingham and
Oxford line, ; on account of the Wilk, Somerset,
and Weyntouth Railway, 199,275/.; on account of the
Birmingham, Wolverhampton, and Dudley Railway,
1,097,3351. ; subscriptions and disbursements to other un-
dertakings, 1,700,7701. (the interest on which is borne by
revenue), including 5000/. to the Gloucester and Forest
of Dean Railway ; 545,000/. to the Wilts, Somerset, and
Weymouth Railway; 589,104/. to the South Wales Rail-
way, 225,791/. to the South Devon Railway, 18:,1031. to
the Osf.rd, Worcester, and Wolverhampton Railway,
70.457/. to the Cheltenham and Oxford Railway, 24,76aU
to the Cornwall Railway, and 10,2i'!. to the Piymouth
Great Western Dock ; the sum expended ou new rolling
stock, under votes of the proprietors, was 192,7501. ; on
the Paddington Mahon, 165,5201., on the Paddiuglon
Hotel, 42.5421. ; and on Bull's-bridge new work.: i.nd
dock, 13,049/. ; making the total expenditure, as above,
18,130,0271.
The revenue account for the half-year ending the 30th
of June shows that 522,498/. bad been received including
7,050/. by Bristol and Birmingham Railway, for rent, &c.,
11,3211 for use of plant by other companies, 2459/. Mti rest
on cash balances, and 3,7141. for rents and rtgistratiou tees.
The expenditure amounted to 233,3351, including 12,8101.
for government duty, and 11,4262 rates and taxes, and leav-
ing a balance of 288,6511. To this sum is added bi,7781.,
the balance from the last account, and 1,000/. for dividend
on the Olocester end Dean Forest shares, making a
total sum of 353,4391. Out of this sum is deducted
9031. paid for new works and wlditions to werka
on lines opened, 16,4821. amount of annuities gua-
ranteed to 'shareholders of the Wilts, Samerset, and Wey-
mouth Railway, 1,3281. interest on the Ilerks and Hants
Extension shares, 5,715/. rent of Gloce.ter and Dean
Forest Railway on 2.51,0001. at 41 per cent. per annum,
1,2941. rent charge to the trustees of the Paddignton estate,
101,2081. balance of interest paid on lune, 41,210/. :nterest
on redeemable 45 per cent. stock, 2,2921. on redeemaele 4
per cent. stock, and 13,0411. on irredeemable 4 per cent.
stock to the 30th June; total, 183,476/., has 12,5231.
derived by pre-payment fur Birmingham and Oaforu and
Birmingham and Dudley shares, making the total 170,9531.,
and leaving 182,48.5/. available for dividend. The amount
of stock and shares upon which dividend is payable is
8,236,2761, and on which 2 per cent. for the half-year
would absorb 164,7251., and leave a balance over of 17,7601.
The report of Mr. R. Atkinson, the auditor, and Mr. IV.
%V. Detente, the accountant, states, that after the most
careful arid laborious examination of the books, accounts,
and vouchers, they are again able to testify as to their
correctness, and they feel it only due to the various officers
of the company to repeat what they have stated ou termer
occasions, that the books and accounts are admirably ar-
ranged, and afford every facility for examination. The
books are balanced monthly, and each month's accounts are
examined with the assistance of Mr. Deloitte, who has been
constant in his attendance at the company's offices for that
purpose. The accounts for parliamentary expenses have
not been settled by the directors, and therefore not intro-
duced into the accounts this half-year. Various pa)ments
have been made on account thereof ; but, as no particulars
have been obtained, the amount so paid has not been
charged to the expenditure, but to the personal accounts ot
the individuals. The sum of 31,844/., which stood rim the
14th of August, 1851, to the debit of the South Wah a share
account as interest, a hich had previously been erci.iteti to
revenue, has been discharged with the exception of a
balance of 6,7931., which still remains to be discharged in
like manner, when the dividend receivable from that com-
pany will be credited to the revenue account, as and
when receivable. The sum now remaining to the debit
of the South Devon Railway share account for interest al-
ready credited to revenue only amounts to 7001., also to be
dischaiged out of dividends to be received, when the divi-
dend from that company will be credited to the revenue
account as and when receivable. The interest on the Bir-
mingham and Oxford disbursement and share accounts is
now charged to revenue. The interest on the Birmingham,
Wolverhampton, and Dudley disbursement and share ac-
coutre is still charged to capital, that line being in course
of construction, and no part opened. The interest on all
other expenditure for capital, with some very
trifling exceptions, is charged to revenue, includ-
ing new locomotive and carriage stock, new station at Pad-
dington and Paddington Hotel. The profit realised on
the sale of a portion of the 41 per cent. stock has been de-
ducted from the interest charged to revenue on that stock.
The great additional charge to maintenance of way arises,
in a considerable degree, from the rise in price of mate-
rials, especially iron, and from the much larger quantity of
those materials which the recent very wet season has made
requisite. The increase in the expense of the locomotive
department has been caused partly by extra work, addi-
tional mileage, and advance in the price of materials and
labour. The balance of 17,760/. is still subject to any re-
sult of prefit and loss that may
.be found in the account
with the South Wales Company since the commencement of
the lease on the 19th of July, 1852. The debenture state-
ment to the 30th of Jane last shows that 6,808,431/. had
been borrowed, of which 1,341,608/. was at 5 per cent.,
248,7131. at 41 per cent., 3,191,071/. at 4 per cent., 967,2001.
at 31 per cent., 953,837/. at 31 per cent., and 100,0001. at 3
per cent.