The Express.
London, England, 1853-08-27 00:00:00

THE EXPRESS, SATURDAY EVENING, AUGUST 27, 1853.

The following is an abstract of the statement of ac-
counts submitted to the shareholders : The total
amount received on calls is 2.415,3181., of which
11,83351. has been received in the half-year ending
30th June last. There remains due on forfeited .hares,
:1:30.715/. Received on loans on debentures, loan., &c.,
1,088,4881. ; from registration fees, Lti7/. ; making a
total receipt of 3,424,1132 The payments eni-ont to
3.498,6201., of which 146,6411. refers to the last halt-year,
including the following items amourst others : —Land and
compensation, 23;5731.; works, 70,2671.; permanent way,
16.3871.; stations, 13,9731. ; waggon stock, 3,5'291; Forest
of Dean Railway, including expenses, 1,699/. ; interest,
1,4451. This leaves a balance on the capital account
of 27,524'. The revenue account for the Forest of
Dean branch shows a receipt fur the half year of
2,7001.; expenses, 8191. The balance of 1,9411. is carried
to the general revenue account. The general revenue ac-
couni :howl a receipt from traffic, in the six months ending
30th June lasi, pf ii,T,!,481. The expenditure has amounted
to 42,3881., leaving a Want: of 30,4001. Teus the expen-
diture has amounted to about e`-:3; per cent. of the gross
receipts, against 6li per cent. in the corresPll4Aß six
months of last year. An item of 18,218/. bar been received
from the Great Western Railway Company for their pro-
portion of fixed rents; and this, added to the next traffic
receipts, and the balance brought down from last half-year,
gives au amount of 57,7911. Deducting from this 20,2871.
forthe bal ince of interest paid on debentures, loans, Ctc.,
and 5,5121. assumed amount due to the Great Western
Railway under the agreement of the 29th March, 18.51,
there remains a disposable balance of 32,011/. Out of this
the directors propose to make a dividend of 2 per cent. per
annum on the share capital entitled to dividend, amounting
to 24,04ki/ , which will leave a balance in hand of 7.0451.
The engineer's report on the state of the several works
was also read.

The CHAIRMAN, in moving the adoption of the report,
expressed his satisfaction that the traffic for the half year
included in the accounts—that was, up to the 30th June
last—showed so large an increase. In conclusion, he
iiud that the line was in a far more flourishing condition
than he had ever anticipated it would be, and expressed his
readincsa to give any explanation that might be demanded.
Major Coewr complained of the delay which had taken
place in presenting the proprietors with the report. They
ought not to be called upon to assent to a document which
they had only received that morning, and he would move
that its consideration be deferred to the next half-yearly
meeting.
he CHAIRMAN asked if the hon. proprietor was aware
that that would prevent the payment of the dividend ? (A
laugh.)
Major COURT would except that part of the report.
The CIIAIIMAN, in reply to a question from Mr. Ridg-
way, stated that vessels would save 24 hours in the passage
between this country and New York, by availing them-
selves of Milford Maven instead of Liverpool. There would
be a similar raving of time as against Southampton. The
dividend would be payable on the 12th of September.
Toe report was then passed, and the dividend ax recom-
mended by the directors was confirmed. Other proceed-
' lags terminated ; with the usual ♦ate of thanks to the
directota.