The Express.
London, England, 1851-02-19 00:00:00

WEST CORNWALL RAILWAY.

The report of the director.* of this company, to be
mil iiii ittcd to the proprietors at the half-yearly meeting on
Friday next, states that a contract has liven entered into
with Mr. Ribou for the construction of the works from
' Hoyle to Penzance-pier fur the sum of 39,1001., the line to
be handed over to the company in a complete state ready for
traffic, with the exception of stations only. The directors,
in October last, caused a careful survey to be made by Mr.
Brunel of that portion of the line situated between Redruth
and 'lntro, and he was of opinion that no deviation could
be effected in the line ax originally laid down which would
justify the expense of an application to parliament. The
directors, therefore, had no alternative, us the compulsory
powers expire in August next, but to order the purchase of
the requisite land forthwith, and having taken into con-
sideration the great desirableness of completing as early as
possible the main line, have entered upon a negotiation with
persons for its completion, at an amount very considerably
within the original estimate, and upon terms which they
expect will relieve the proprietors from additional calls,
during the present year and that of 1532, beyond the age
gregate sum of 41. per share. it is proposed, at an early
opportunity, to bring before the proprietors the forfeiture
of all shares held by persons not in a position to respond to
the culls. The revenue account fur the half-year ending
31st of December last exhibits, u compared with the cor-
responding period of 1849, an increase of 1163!. The ex-
pensiss have been 6,953/. against 6,2031. for the correspond-
ing half-year, being an increase of 749/. This sum, how-
ever, includes 702!. for new rails, and an increased
expenditure on the carrying and locomotive accounts, con-
sequent on the general renewal of stock in those depart-
ments. The local committee draw attention to the continued
and steady increase in the traffic, the comparative statement
of which shows that the total receipts in 1860 amounted to
• 11,200/., and for the. year 1849 to 13,9631., being an increase
' of 1,2431. The small net or disposable habitue on the last
year, notwithsbiuding this considerable increase in the
1
' traffic, is owing to the unusually large expenditure which
' has been made during the year in the general renewal of
stock in the locomotive department and maiutensuwe of way.
I During that period a new engine has been built on the pre-
' 1 mists of the company and mud for, and upwards of 225 two
' of new rails bought and paid fur. In these items alone up-
• , wards of 1,8001. has been expended. By, this expenditure
fie permanent way has been put into fair working order,
' I and the committee do nut anticipate that any further outlay
' for rails will be required for some time to tome. The re-
' tiring directors are Messrs. J. Alston, J. E. Prockter, and
I F. I'. Barlow, and the retiring auditor Mr. J. O. Turnbull,
but they are eligible for re-election. The capital account to
the 31st of December last shows that 3'28,613/. had been re-
. crived, and 218,2801. expended, leaving a balance of 10,303/.
• The revenue account for the half-year ending the 31st of '
'i December last stated that 7,71t81. had been received, and
'16,963/. expended, leaving a balance of 8351. To this sum
• I the balance brought from the 30th of June, 1810, of 5941.
i: added, making 1,4301.; from this is deducted 8311. for
r • interest on debentures and loan, leaving a disposable balance
f I of 6991.