The Express.
London, England, 1851-04-14 00:00:00

RAILWAY NEWS OF TILE PAST WEEK.

Among the railway occurrences of the week is the
publication of the number of" Railway Intelligence'
fur the half-year ending 31st March, 1451, which is
drawn up by Mr. Milan Slaughter, the secretary of
the railuiry department, under the authority of the
committee of the Stock Exchange. The number of
railways, and the different classes of stock, shares
and strip have been so extended, that no one can
bear them in mind; and this periodical statement is
Inked forward to as indhpensalle to the intending
purchaser and to the sharehrokt r, as well as to those
now holding railway stock. In the general returns
we do not find anything calling for comment, but the
general statistics tared some noticeable features in
the present crisis of the railway market, long suffer-
ing under depression, and now about to resume a
condition of great proaperity. Mr. Slaughter says:
From the latest returns published, the folbwing table ap-
pear. to represent the position of railway eapie,l and mile-
age at the period* respectively annexed : Raised
in share% at 31st Der., 1815, 156,508,578 f. • raised in loans
at same date, 43,664,11401.; not raised. at same date,
113,717,77•:1.; total authorised to 31et of Ib cendwr,
101518,
313,M,8:01. Authorised in 1849, 3,155,332/. Authorisel
in 155 n, allowing fur deductions in capital preciously autho-
rised, 3,254,032 C Total capital authorised, 350,300,1951.
—The mileage open at 31st December, 1810 (via., England
and Wales 4,132; Scotland, 951 ; Ireland, 535) was 6,621 ;
making, 631; not commenced, 4,831; being • total of
12,043 miles authorised, allowing for 179 legally abandoned.
The Commissioners of Railways, in their report for 1550,
remark " That, at the end of MO, there were 6,382 miles
of railway which enincrenies have becn authorised by par.
liament to construct, out which still nenaintal to be com-
pleted; that the principal part of the lines opened during
the year (625 miles), were among those mithorised in 1515
and 1816; and that, of the unopened li• e, 4,999 mile, were
sanctioned in or precious to 1847." "It is not possible,"
they continue, " from returns in the ottice of the commis-
'semen, to state to what extent the pavers for the compal-
sory prerelease of the land, and far the constriction .n these
Was, have been allow, dby the companies to expire ; hut
at. the custom of parliament has la en in general to limit the
former to three year% and the latter to five, and as eaten-
sione of time by parliamentary authority, or under the Ex-
tension of Time Act, by the Commissioners of Railways,
have generally been given only to the extent of two year%
it he to be presumed that, iu a great many instances, the
powers have ceased, and the lines will not be made."
The establishment of railways in India has justly
been looked upon as the great means of developing
the resources of our empire in that country. Although
not a mile of line is yet open, the undertaking is also
producing effect in giving u stimulus to Indian enter-
prise, and there is every pnepeet that the govern-
ment will derive the greatest advantages front the
pecuniary encounntement they have ntlbrded. The
coal mines of Ilunlwan are being worked with in-
creased energy ; the telegraph system has graphed a
beginning; and we find that the ironworks of India
have received an impulse, and are now to be greatly
extended. *rinse having any acquaintance with the
iron trade are well aware of the tine charcoal, pig,
and other iron obtained from India, chiefly from
magnetic ore, though hitherto the trade has
had little extension, so many years mid so
much money having been spent by the In-
dian government and capitalists in parceling the
works, and processes of manufacture. The Porto
Novo works have longbeeu hailed upon NS ith interest
as certain to become the scat of a great manufacture,
and it was expected when the railway system was
proposed five years ago, that they would early have
conic into play. The delays which impeded the rail-
ways impeded the ironworks, but now it has become
so evident that the period of activity has arrived, that
an appeal is made to the- English public for an exten-
sion of the capital, or rather the revonstruction of the
undertaking on a larger scale, and under a new
name. 'flews, the works nt Porto Novoon the Madras
coast, and at Beypore on the Bombay coast, will be-
come the property of the East indian Iron Cmnpany,
with all the initial& privileges granted by the East
Indian government of iron mines, and forests,
which place the establishments on the footing of the
privileged Swedish ironworks. The amount of capital
to be taken from this market will be only 200,0001.,
and we think it very fairly arranged that the new
shares shall become preference shares over the old
ones and bear a dividend of 7 per cent. We arc
very OA to see that the direction has been so judi-
ciously reeonstrurted us to include the interest of the
East Indian Railway Company, of the Great Indian
Peninsular Railway Comismy, and of the Peninsular
and Oriental Steam Company, so bunt additional
eustunt for the produce is at once obtained, and wo
presume the new shares will go chiefly among the
present proprietors in the three companies just
named. It may be considered as stated under the
sanction of the railway authorities, that they must
and will obtain a great part of their large castings
front the East Indian Iron Company, and this alone
will furnish a very safe and prMitable branch of enter-
prise. Although the iron company has already very
great privileges, we have every regoon to believe that
the East Indian government will continue their patron-
age, allow the extension of the leases, the establish-
ment of new works on the same terms as those now
existing, and give every justifiable employment for
castings and other iron-work, while there is every
hope of the home govenuncut grunting a charter
for the encouragement of an enterprise so important.
The Railway Rte"rd mentions n report that Mr.
Waddington has completed an adv.lntugeous arrange-
ment fur the Eastern Counties Company with re-
gurd to all goods traffic going from Eastern Counties
stations to those places in the midland districts to
which the Great Northern has ulso access. This
will deprive the Great Northern of a considerable
and increasing hulk of Eastern Counties and Nor-
folk trutlk, which they have hitherto exchanged at

Peterborough.
A valuable comparative statement of the quarter's
traffic appears in the Railway Times. Altogether
the returns may be considered highly satisfactory, as
the increase in the aggregate receipts is era solid and
permanent description. With the excursion season
close upon us. and the vast traffic arising front the
Exhibition, we may look for a rapid advance, by
which the average for the half-year will be largely
increased, while the new miles cannot fail to be ren-
dered more profitable than they hitherto have been.
Among the lines which show un increase per utile
during the quarter are the following, viz. :-The
Aberdeen has increased 61!. per mile ; Bristol and
Exeter, 30/. ; East Lancashire, 11S/.; Eastern Union,
10/. • Caledonian, 271. ; Chester and Holyhead,
128/.•, Great Southern and Western, 32/. ; *Great
Northern, 561.; Lancashire and Yorkshire, 44/. ;
Lancaster and Carlisle, It 6;/.; London and Brighton,
481.; Midland, 2/. ; Midland Great Western, 16!.;
Newcastle and Carlisle, 40'.; North Staffordshire,
381.: London and South Western, 71.; Manchester,
Sheffield, and Lincoln, 76/.; South Devon, 14/.;
South Eastern, 43/. • York and North Midland, 17/.;
York, Newcastle, and Berwick, 31'.
The chief lines showing a decrease per mile, as
compared with the corresponding period of last year,
are the following :-Eastern Counties, less by 63/.
per mile; East Anglian, 26/. ; Edinburgh, Perth,
and Dundee, 33!.; Great Western, 771.; London and
North Western, 661.; North British, 281.
According to an analysis of the railway traffic
returns of the last week, published in livrapath's
Journal, the total receipts on 6,247 miles were
244,383/., or at the rate of 30!. per mile per week.
The returns for the corresponding week of last year
were 227,960/. on 5,611 miles, being at the rate of
40/. 10e. per mile per week. There is thus an in-
' crease in the aggregate receipts of 16,4161. or 7.20
per cent., an increase in the mileage of 636 miles or
11.23 per cent., and a decrease of U. 10s. in the
amount received per mile per week. The Railway
Times estimates the total traffic returned since the
Ist of January at 3,115,6731. on 6,200 miles, which
gives an average of 5021. 10s. Old. per mile. Last
year's returns for the same period amounted to
, 2,829,822/. on 5,580 miles, being at the rate of
. 5071. 2s. fild. per mile. The balance is, therefore,
still against the present year to the extent of
C. 12s. 2id. per mile.

TErwrman Pam% ALBERT'S LIGHT INFANTRY,
now at Winchester, is to proceed to Gibraltar in the Here-
fordshire troop ship, and will embark about the 20th inst.
at Portemouth.

BAILWAYS.

THIS DAY.

Two o'CLocw:

Not a great deal of business has been done in the
share market to-day, as the dealers arc engaged with
the anotv.einents requisite for the settlement of the
account fulling due on Wednesday. The account
proves " bullish," and the rates of " continu-
ation " to the next period are again heavy, though
not so considerable as on the last occasion. In the
face of these heavy rates, however, the market shows
a decided inelease of firmness, and prices are
Moted. better for most descriptions, especially for
idlands, London and North Westerns, Lancashire
and Yorkshires, and Caledonians, and the general
tendency seems upward. The amount of the " dif-
ferences " arising out of the account will not be so
heavy as last tiale, business having been more quiet
and prices steadier.

SHAREA AND STOCKS UNOT'ARANTEED.

,tics
Saturd.q.

u:es to-day up
to I ceduck.