The Express.
London, England, 1862-02-21 00:00:00

THE LONDON DISTRICT TELEGRAPH
COMPANY.

The directors' report and statement of ac-
counts for the half-year ended December last show by
comparison a net increase of 1,5:W. 16s. fi,f. over the re-
ceipts for the correspond* period of last year, sad 4561.
14s. 3d. over the past half-year. "In making this latter com-
wiener," says the report, it should be borne in lilted that
the usual vacation months have intervened, and commercial
enterprise his been unusually languid for the greater portion
of the period. The gross receipts, which include the provincial
and continental messages, show a still more favourable
comparison. The general working expenses have remained
about the same. although fifteen new offices have been
opened. The principal Marmite occurs in the engineering
maintenance, but this subject is now receiving the anxious
consideration of the directors, and they hope to he able to
effectsome reductions in this iternofexpenditure. Thedireo-
tors regret there is still a considerable deficiency ,which, they
have every reason to hope, may be overcome by the Ko-
mar of the nudertikieg ; and they are glad to state. that
a proposal is now before the directors of the Magnete Tele-
graph Company, which, if adopted, will ensure a coesideme
We reduction in the general working expenses, and
an increased profit for collecting provincial mes-
sages. Ou previous occasions the directors have
mired the attention of the shareholders to the
desirability of entering into contracts for providing and
maintaiuing private telegraphs. The present income from
this source amounts to about 1.0004 per annum, the mum-
meats being for definite periods. These contract, hare
hitherto been chiefly provided for by existing wires, to that,
although uo provision was made in the first instan e, the
outlay for works, up to the present time, has not materially
exceeded the original estimates. As, however, several very de-
sirable contracts have been proposed, andfthe greater portico
of the present wires are fully occupied, the directors recom-
mend to the shareholders that they should be authorised
to exercise the borrowing power' pro% ided by the articles d
association, in order to undertake any new contracts that
may appear desirable, as well as to provide for the require-
ments end efficiency of our own mom immediate
business. The year 1882 offers every encourage-
ment to ,this company, and if the same proportion of
Increase be continued as during the year 1861, there is no
reason to fear the ultimate success of the undertaking.
Pursuant to the articles of association, three of the directors,
Mr. Alderman Rose. Mr. George Sheward, and Mr. Robert
Taylor, retire from the board, but being eligible. offer
themselves for reelection. The auditors, Mr. Moms r shubb
and Mr. Edward Sandell, likewise retire, and offer them-
selves for re-election."

WRECK AND LOEB or LIFL—A shipwreck, with
the loss of nine lives, has occurred off the Arkin., cost.
The Portia, a barque, 290 tons register, Captain rarne,
which left Liverpool on Saturday for Pernambuco, struck
on the Blaokwater Bank, and, becoming • total wreck, went
down. The crew, 14 in number, fortunately had sufficient
time to take to the boats, of which there were two, but in
making the land at Mises Head they were both csugbt in •
heavy surf and upset, moulting in the lose of nine men.
Five out of the 14 were borne on the waves and Imbed on
.4he shore, and eventually succeeded in reaching the house of a
farmer awned Doyle, where they received the succour and
restoratives they needed. The captain, who was ammonia
numble of the saved, remain■ at Arkiow to watch the
week. which was washed ashore near the place. It is stated
that the vessel was insured.
Two fires of a very destructive character, one at
Dewsbury sod the other at Biddulph, are recorded to-day.
The Dewsbury are resulted in the destruetion of a large
cotton rainufaetocy, the damage done being estimated at
6,0001. ; and that at Etieldnlph swept away the Hint lam,
where the silk throwing business we. carried on.