The Express.
London, England, 1865-04-24 00:00:00

ROYAL MAIL STEAM PACKET COMPANY.

The report to the general meeting on the 28th
inst. states that the directors think they may safely ecie-
gratelate the shareholders upon the satisfactory stab of the
surplus upon the " working account," which, newitludand.
lag the redaction in the amount of the company's subsidy,
and an increase on the disbursement side tithe acconat,
only 23,7901. Oa. 411. lees than the surplus on the working
amount for the year 1863. Ws result is dee to the steady
program of the company's earningsfrom freightand purge-
money, all the items of which show an inane@ manor lam
over titans in the preceding year's account. In the case el
interoolonlal freight and pumpmony the neer
is very considerable. The increase above
to is the disbursements in the " working_ soconat,"
ea compered with the expenditure for the year 1863, amounts
to 18,1491. 55.„ of which sum 7,3971. 10e. Bd. occurred to the
first six mouths of the year 1864, ea explained in the last
report, and 10,751/. 14s. 4d. in the lord half of the year. The
greatest portion
.of the latter inmates is found to be under
the heed of 'Goals, freight, &a," aid arises from higher
rates of freight having been paid for the conveyance of coals
from this wintry to the company's depots abroad, • dream-
sines which, to scene mien, affected aloe the ac-
°counts for the first half of the year. A further
portion of the Wanes enure coda the beads of
" Provisions " and " Stores," but, mouldering the larger
number of pussoners conveyed, the oast of these items
will compare favourably with the expenditure in 1863.
Ae the charge for " law expanses" for the whole yen
1864 is considerably less than it wan for Daly the first half
of the year, it is enessary to explain that this arises from
this item having been credited with a earn which has for •
great number of years been held in reserve to mast the
eats connoted with the settlement of some litigated se-
counts, the amount of which expenses were debited under
this head, from time to time, as they were incurred,
and as the matters in question have been cUspcsed
of the directors have now applied the sum in
the manner referred to. As regards the " Repair and
Renewal Account," although the cost of repairs of shins and
machinery has consideslely exceeded the expenditure for
the preceding twelve months, there is still a balsam in
favour of the company, at the end of the year 1864, *mant-
le, to 6,849/.16a. sd. Besides the cost of the *eatery
repairs of the company's fiset for the year, and of fitting
new boilers and superheating steam apparatus to the
Abate, as mentioned in the last report, the disbursements
under this head comprise • considerable expenditure oa the
Tasmanian, in giving her a general overhaul, fitting her with
bilge pieces, and exceeding her poop. By the latter libera-
tion the extent as well as the character of her
accommodation has been very much improved. Oor=raeDtt
outlay has been incurred in fitting La PIsM with new
boilers sad superheating steam apparatus, and in im-
proving her cabin acoommodation, the cost of which, how-
ever, will be a charge against the current year's account.
At the end of last year the company disseetinued per.
forming the Honduras service, which was being myriad on
by them subject to three months' notice from her Majesty's
government. The company's new paddle-wheel steam ship
Eider, contracted by Messrs. Oiled and Co., at Greenock,
was despatchedfrom Southampton in December last to the
West Indies, where the was forthwith employed upon the
ieteroolooial mail service. The stitmre of the passenger as
commodation of this ship has already elicited from many
quarters marked expreestons of approval, tied there is every
MOOD to belinethatehe will proveamost andel Yana nth@
company. The Douro, Rhein, and Danube ban not yet been
completed, but the oontracton are prolong forward with
these ships, as well as with the "Arno" (the name given to
the fifth new ship), and, as the directors continue to urge
upon the contractors the necessity of the utmost possible
despatch. it is hoped that the company will soon obtain pos-
session of all these vessels. A. contract between the genre-
meet of New Z•alaed and the Panama, New Zealand, and
Australian Royal Mail Company (Limited), has lately been
ratified, for the establishment of a monthly line of steam
communication between Noma. New Zealand, and
Sydney. The directors consider that the state of the pre-
sent accounts justifies their recommending that a dinnbu-
lion be made of 9/. 10e. per share, free of income tax, viz.,
8/. 10s. per share out of the balance of profit and loco as
sad • bonus of D. per share from the insurance
fund ; the warrants for the same to be bend on the evening
of the 29th instant.