The Express.
London, England, 1851-10-23 00:00:00

LONDON, THURSDAY EVENING, OCTOBER 23, 1851.

SCOTTISH CENTRAL RAILWAY.

The half-yearly meeting of the shareholders of the
Scottish Central Railway Company was held on Tuesday,
I in one of the rooms of the Gi meal Railway Terminus, at
Perth; the lion. Mr. Dundas presiding.
The report, which was resolved to be held agreed, showed
that the revenue account for the half-year was
4:!,023/. 7s. M., and the expenditure 36,750'. sa. 10d.,
leaving a balance of 5,8731. 25., which, cibled to
8,080/. its. 11d., carried over from last account, left
14,4591. 7s. lid. applicable for a dividend.
'Die CIIA IRNIAN congratulated the meeting on the in-
crease of the traffic during the previous year—that increase
being, as compared with 1851, 61,752 in the number of
passenger., the increase in the receipts had not however
kept pace with the increase in the number of
passengere, which was to be ascribed to the merely nominal
fans a hich they had charged during tl:c late couteat with the
Edinburgh, Perth, Dud Dundee Company, for tho traffic
between Perth and Edinburgh. Still, however, the increase of
rciaipts over the corresponding half-year was 3,2001. The
working cape IliC4 as would be seen from the report, ap-
peared to have undergone a considerable increase. In 1850,
the locomotive charge was 5/593., whereas in 1851 it was
01,215!., slowing an apparent increase of 3,5521. lie said an
apparent, because it was not a real increase ; and for two
reason,. In no previous half-year had they laid by any sum
for depreciation. Last year, however, they had laid pant
for tin, object 1,070!., under the working agreement with
the Scottish Midland and the Aberdeen Companies. This,
then, although charged upon the expenditure of the half- ,
year, was an neso, in point of fact, available to the corn.
pony. In addition to this a sum of 1,2302. had been ex-
inalniaimendaimpabo.pitat aomplete repair, a thing
usual in other companies, and only done on the present oc-
casion that the three companies embraced in the work-
ing agreement might start iu the same state, the working
expenses having to be all charged upon one common fund.
This, then, was an item of expense that would not occur
again, while it mould be a great source of future benefit
to tire eumpany. Therefore, although it may have caused
them anbli.ianal outlay in the meantime, this working
agreement will, iu the end, be very mach for their pecuni-
ary benefit. Taking the whole of the traffic in goods, mine-
rol,, and lire stock, as well as passengers, there was an
increase on the last half-year of something nearly approach-
ing to 6,000/. ; but of course against this was to be set the
increase of expenditure, but of which, as he had endeavoured
to explain, 2,3001. might fairly be set down as extraordinary
expenses, ahil not applicable to any other hall-year than the
present, and consequently should in reality he deducted
(ruin :the expenditure of the half-year. The directors
were of opinion that tire dividend declared should be fairly
out of the earnings of the half-year to which it had rete-
rence; and it was on this view of the cue that they had
recommended a dividend at the rate of 12.. per cent. on
the consolidated stock. lie was glad to say that the new
stock which had been issued had been taken up to a
larte extent ; and he had not the least doubt that it would
In all taken up. L'y the sums of money they had already
received on account of it, the directors were enabled to
proceed with the adjustment of all the uusettled claims of
the company ; and it was their intention to proceed with
the branch line to the harbour of Perth as soon as some
little misunderstanding that had arisen as to a certain claim
of servitude was got over. Ile was glad to say that the
contractor.' claims were settled, and in a manner most
satiafactury—causing a saving to the company of several
thonsands, and putting an end to all fear of litigation on that
scum. The working agreement with the Northern Compa-
s, so tar us they could yet judge, appeared to be doing
very well, and ho had nu doubt theta would tend greatly to
the future advantage of the Central Companv. The agree-
ment with tire Eiliuburgh. Per;ll, and Dutidee Company,
and which had reference solely to the passenger traffic be-
tween Perth and Edinburgh, was to lie only for three
mouths, by way of trial ; and that it would require to be
still further adjusted might be fairly assumed from the eir-
cumntance that since it had been entered into the Central
hail heeu carrying two to one of the passengers between
Edinburgh nod Perth. (Hear.) The chairman concluded
by mining the adoption of the report, and that a dividend
be declared at the rate of 12*. fur each 100!. of consolidated
stock, to tie payable on the 6th proximo.
rlr. SPIERS seconded the motion, which wan unani-
mously a•;reed to, atter some slight discussion with regard
to the c aecution of the branch line to the harbour of Perth,
with respect to which it was said that it was the bola fide
intention af the directors to curry it immediately into ex-
ecution.
The meeting then adjourned.

RAILWAYS.
THIS DAY.
Two o'CLocx.
There is no general change in shares, but with the
absence of operations calculated to support the mar-
ket, a few of the heavier descriptions show a little
weakness, and have been transacted at rather cheaper
rates. Great Westerns are sensibly lower, marking
only 804, and North Westerns and South Westerns
exhibit a slightly downward tendency. Midlands, on
the other hand, have been better supported ; and
York and North Midlands at the opening advanced
to HQ, but are now rather worse again, at l9i.
SHARES AND riroCKB usiousitsvrxru.

RAiLways.

C:oclos prices.