The Express.
London, England, 1853-08-30 00:00:00

NEWMARKET RAILWAY.

The report for the half-year contains the following
passages The directors Lave again the pleasure of an-
nouncing to the proprietors an improvement in the position
of their affairs. The ordinary traffic for the six months,
ended the 4th July, as compared with the corresponding
half-year 011852, shows an increase of 1,182/. 17s. 2d. A
similar improvement appears in the returns for the wet ks
which have since elapsed. From the rev( nue account
appended to this report, it will be seen that the gross re-
ceipts (including the Eastern Counties contribution) for
the half-year are 8,4771. 3s. After deducting therefrom
2,3481. Is. 4d. for the working charges, and 2,116/. 184. Ind.
interest on debentures, there remains a net profit of
4,0121.25. 91 which, added to 1,2)5.?. :Is. Id. the surplus of
the last half-year, (CM 6 a disposable balance of
5.217/ se. 10d., Irom which amount the directors recom-
mend that a dividend for the hair-year should be declared
of 11. Bs. on every 1001. of the company's capital stock,
equal to 7s. per share, leaving 617 L ss. 10d. to
the credit of the current half year. The share-
holders are aware that in May last negotiatims
were opened with the directors of the Eastern Counties
Railway Company, for transferring the Original and But y
Extension Lines to that company. After several interviews
the following terms were agreed to by the two Boards:-
Ist. " Bury Extension." That this lino, when made and
opened for public traffic, shall be worked by the Eastern '
Counties Railway Company, upon the terms of accounting
to the shareholders in that line for au annual sum, equal to '
.5 per cent. per annum upon an outlay not exceeding
14a,0001. This arrangement has been confirmed by the
respective proprietors at special general meeting: convened
for the purpore. The formal agreement is in course of
preparation, and, if necessary, parliamentary sanction will
be applied for. 2nd. " Newmarket Railway." That
simultaneously with the opening of the Bury Extension
Line for public traffic, the Eastern Count'es Railway Com- 1
pony shall exercise the option they possess of pur-
chasing this line at 151. per share, in pursuance
of the provisions of the act of parliament, which
has :already received the sanction of the legislature.
The ad o..nced state of the worka upon the Bury Extension
line, and the continued energy of the contractor, justify
the anticipations of the directors, that the line will be
opened in October next. They are also satisfied that,
under the arrangements they have made for the economical,
though substantial, executioa of the works, the company
will be effectually secured from soy excess in their expen-
diture beyond the 145,000/. to whic:: their capitol is limited
by the arrangement with the Eastern Counties Company.
The directors do not anticipate callinz up more than 101.,
or at the outside l2s. Gil. per share in addition to the
41. 10s. already called. The directors hope they may bo
pet misted to congratulate the shareholders on the result of
their labours, The terms acceded to seem equally bene-
ficial to all parties interested ; to the Bury shareholders, be-
cause it secures to them a liberal return for their outlay—
to the Eastern Counties Company, because, by relieving
them of the expenses incident to the working of the line by
411 independent company, it will enable them to earn for
themselves a fair surplus—and to the public, because it is
evidently for the public convenience that branch lines
should be merged in the trunk lines to which they belong.