The Express.
London, England, 1862-02-18 00:00:00

LONDON AND sour H WESTERN RAILWAY.

The report of the directors allows, the revenue for
the half-year ending December 31st, 1881, after deducting
interest on loans, and all other preferential charges, to be
198,2611. Os. Bd. ; to which add the surplus at June, 1881,
7571. 10• 10d. ; leaving balance available for dividend,
199,0181. lie. 6d. From the above sun: the directors recom-
mend that • dividend be declared at the rite of 51. 10s. per
amt per annum, payable en the 28th day of ,
amounting on 7,200,0504 of capital paid up to 19i87.
Oa. 9d. •, leaving to be carried over to the current half-year.
1,0111. 10s, 9d. The gross earnings of the company for the
half-Exesed those of the oonesponding period in 1860
P• 2.1. ; the additional mileage open being only
ole viz., the Exeter end Topsham Branch.
T relaying of the permanent way as the main line and
on some of the branches has been steadily proceeded with
during the past half-year. 10,0001. have been charged to
revenue on that account. The renewals on the main line
are now nearly completed, and the permanent way is
throughout in good working order. The doubling of the
remainder of the Southampton and Dorchester line be-
tween Wimborne and Dmahpter is also in progresa under
the order of the Board of Trade, and will be • charge
yain4' capitaL On the Exeter extension line 34 miles out
d the 50 (the entire length from Yeovil to Exeter) have
now been doubled, and the double permanent way finished
and opened for traffic. The works on the Exeter Junction
line ere completed, and the narrow gauge rails having boon
laid down on the Exeter and Credition line, there in
now an unbroken communication from London
and all pasta of the South Western Com ny'ir
system, by their trains through Exeter, to Cre&tion.
The works on the Kingston-bridge line are in progress, and
there in every prospect of their being completed within the
time specified in the contract. The report and amounts of
the locomotive superintendent continue to show a favourable
rate of working. 122.138 j additional train miles have been
rue during the six months, and although the gross expendi-
ture hes increased by 3,7751., the rate of working has been
only 7.81 per train mile as °impend with 7.84 for the cor-
responding period in IMO. In the carriage department there
has been an increase of 4,1064, tensed by • mole then ordi-
nary quantity of repairs having been executed, with • view
to the active use of as moth of the rolling ate* se pcedblei
during the season of the eansuing National Exhibition.
The whole of the per amt. preference stock authorised
by the proprietors has now been taken up. Sanction
will be asked at the ensuing meeting for the creation
and disposal of 17,5001., the capital authorised by
the " Wee London Extension Act, 1861," and also of
185,0001., part of that authorised by the " South Western
Railway (works and capital) Act, 1W" foe acquiring sharer
in the Salisbury and Yeovil Railway. The ingrate rate of
interest on the company's debenture debt is 4.23 per cent.
The arrangements with the Portsmouth and Epsom and
Loetherhead Oompanise have now been finally concluded,
sad the several undertakings of those companies have been
legally transferred to and are now the property of the corn-
pony. The dinettes have introduced three bills into par-
as the oompany's behalf for the following object.—
viz.: To obtain tome farther powers of a general character
incident to the present undertaking of the company ; to
authorise the making of junctions with the Andover and
Redbridge Railway, and the completion and lease or pur-
chase of that line ; and to obtain powers for extend-
ing the South Western system through North Somer.
@sultan and by the Badatock opal fields to BristoL
In the last two reports allusion has been made, and at the
meetings some explanations have been given, relative to
some further meistenc• to the company's staff, towarde
providing for the superannuation end provision for families
on death of the company's officers. The board have now
no
far matured their plane, that they ere enabled to report
spout those. One man feature of the scheme is, that the
eangeny's contribution will ones with the members of the
preempt staff, it having been resolved that in all appoint-
wets from this date the new aeons shall be required to
join some bomb society having both these objects in view,
so that any contribution now voted by the proprieton will
sad with the present AA and only so much will bs called
for es will be front time to time required to meet the de-
mands on the fund. The directors propose that the pro-
prietors shall grant an annual further sum to effect this
objeet sot mending MI per annum, the whole of which
amount, it is calculated, will trot be immediately required,
but that son is the extreme amount woman to cover 2i
wger, eme the galena of the odious intended to be
t within the schema.

Csystsz. Psutcs. Oxs San.uwa DAY.
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MOseam tisk** 27,—ietal, 627. NDAY, FiS. 17. Admissions on payment, 348 ; ditto
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LB This establishiaeut to ihsa cl at 6 an the arming, dial osi
Ilatordsm M I o'clock.

ARMONIUMB.-NEW MODEL.
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Ede erpreOis.

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Tis Krts:ro, OUR Air..filii7(irllßll7.4. Moriro Sot/Nero,
E. %Inters. mot R Mrs. r. Yong' LW Olivet.
At ALIe I LE %H++ urriek.r ANU LITTLX BOY BLUE; or,
isisquat .thJ 01.1 /Raly Lou.;lcio Low lacksitcy,