The Express.
London, England, 1853-02-21 00:00:00

THE GREAT NORCHEILN RAILWAY.

The report of the directors which is to be pre-
sented to the meeting of the shareholders, on Saturday
next, contains the following passages :-
1 .. The gross amount of revenue earned during the half-
year is 381,0511. 195.; deducting from which charges of
management, and all expenses incidental to the traffic, being
44.09 per cent. of the receipts, there remains, as net revenue,
the sum of 201,8421. 2s. 9d. Adding thereto the small be-
lance of 1,1031. 18a. 6d. from the previous half-year, and
rent receivable from the Extern Counties Railway C on-
pany for the use of the Royston and Ritehen Railway, the
above balance becomes 211,3581. Is. Bd. This latter sum
being charged with the fixed rents of the Etat Lincolnshire
and the Royston and Hitchin Railways, the navigation., the
dividends upon the 6 per cent. perpetual preference, and
the redeemable prclerence stock, aad the interest on the
bonded debt of the Halt Lincolnshire Railway Company, is
reduced to 122,8911. 161. 11d. This amount is further re-
duced by Payment of the half-year's interest on the mort-
gage debt of the company, due and In course of payment,
amounting to 69,0841. ss. 2d., leaving for dividend on the
original stock the sum if 63,8071. lls. 9d. In previous
half-years about one-half of the interest payable upon sums
expended upon unfinished portion. of the main line was
charged to capital, but the whole line being now open all
the mortgage interest for the last half-year is charged upon
the balance ari.iing from traffic, and the sum then left,
63,8074. 11.. 9d., enable• the directors to propose, and re-

commend for the eandsmation of the proprietor., • dividend
at the rate of 21 per sent. per annum on the original 264
steak, and of 6 per amt. per annum on the B stock ; and
that the remainder, 3,7021. 24. &1., be carried to the next
half-year's account. The general tradle is steadily in-
, creasing.
Under the authority of the resolution of the half-yearly
meeting in August last, to raise additional share capital to
the amount of 750.0001., scrip representing shares of 101.
each, bearing a 41 per cont. preference dividend, and re-
deemable on six months' notice at 10 per cent. premium,
have been issued to the proprietors. At the same time
were issued scrip for similar shares to the further amount of
60,0001., authorised to be raised by the Great Northern
Railway (communication with Manchester, Sheffield, and
Lincolnshire Railway), Act, 1851. These shares, together
representing 810.0001. were allotted in rateable proportion
Ito the amount of stock each proprietor held at the date of
I creating them (;4th December, 1852), every holder of stock,
however, being allowed at least one share ; and they were
I readily taken up. Application has been made for the ne-
eemary parliamentary sanction for the above-mentioned
I 760,0001. additional capital, and is, with the usual borrow-
ing powers, included in the bill to be formally submitted,
as required, to an extraordinary general meeting, to be held
later in the day; and by the same bill power is also sought
to make improvement. at different points of the Gres'
Northern Hoe, involving the small estimated cost of 2.000/. ;
and also to convert the Bast Lincolnshire rent of 6 percent.,
as guaranteed by the Great Northern, into a guarantied
Great Northern stock of 6 per cent., the object being to
abolish the board of the East Lincolnshire company, and to
save the expense of separat, management, but not in any
way to affect the rights of either company.
" Under the conviction that it is important to Great
Northern interests to obtain the power to make the short
inexpensive line of shoot 71 miles from Sandy, a station
44 miles Irons London on the Great Northern to the county
town of Bedford, which will then be distant from London
by roil 511 miles, instead of as now 63 miles, the directors
have c rused to be presented to parliament a bill for the
puryoie, which will also be submitted to the extraordinary
general meeting of to-day.
" The third subject to be brought under the notice of the
extraordinary general meeting of to-day, is a proposition to
authorise the directors to conclude any agreements which
they may consider politic on behalf of the c =puny for •
united working of the traffic common to this company and
the Ambergate Company. and fur eventually merging the
undertaking of the lattet Company In the ores:
Company, when the authority of parliament shall enable
the parties to do so; thus connecting the town and district
of Nottingham with Grantham, and making the Great
Northern live the shorterat route between London and
Nottingham."