The Express.
London, England, 1862-09-30 00:00:00

The report stated, "that in addition to the 21 miles opened
on the 13th of February, 10 miles—u far as Stellenboach—
were opened for public use on the 4th of May. Since
the opening, to the 30th of June, 35,874 passengers and
2,907 tons of goods had been conveyed over the
line. During the mouth of June the traffic was
temporarily affected by the unusually heavy rains which
prevented pruners and goods from reaching the country
stations, and also impeded the progress of the works os I
the unfinished portion of the line. The section to Stoll*.
bosch was complete, and nine-tenths of the remaining earth
works had been constructed. A further portion of the line to
Rlapraute,9 miles in length, was shortly expected to le opened.
The construction of railways to filalmeabury and Worcester,
forming junctions with the present line, were proposed by
the executive government. The railway committee of the•
Housed Assembly, to which they Wife referred, rouse-
mend that these lines should be carried out by constructing
a loop line about fifteen miles in Werth, from
Belleville to Mullets Vley, on the company's pre-
sent railway, from the centre of which, at
Kraaifontein, the line to kfalmesbary would branch
off. By this proposal, the distance to Worcester
through Wellington would be reduced by 20 miles. The
branch to Malmesbory from Kruifontein would be about
32 miles long, and the extension to Worcester, mid
Tulbegh, about 65 miles in length. Surveys
these proposed lines were now being made un-
der the superintendence of Mr. Brounger, the
company's resident engineer—the latter being carried out at
the expense of the shareholders in the Worcester @Umiak°.
The short branch at Cape Town into the Morning Market
was sanctioned by the government under the anal
guarantee, and is in course of construction. The goods
traffic would be materially augmented by this extension.
The *Outten line, originally proposed by the board, from
the Salt River station to Wynberg, by way of Mowbray,
ltondebosch, and Claremont. was being constructed by
the Wynberg company, to whose directors the board
made proposals for working the traffic subject to
the approval of the terms by the colonial government.
The capital hitherto raised on construction account amounted
to 526,6631., consisting of 25,000 shares of 201. each, which
were nearly all converted into stack, and debentures to
the extent of 26.600/., authorised to be issued h 7
the meeting of 19th March last. There was also raised
20,000/. on account of working expenses, as sanctioned by the
last general meeting. Of this capital it would be seen that
508,768/. 30. 11d. was expended on construction account.
This amount included adverse., for interest and manage-
mentexpenses,to be recovered hereafter. The sum of 16,6891.
12s. 3d. was also expended on working account. From
the revised estimate of Mr. Brounger, it appeared
that the sum of about 50,0304 would be required to corn-
Iplete the line from the Ist of Jana. In order, therefore, to
meet this outlay, sod to provide the necessary advances I
oo account of interest W be eventually repaid, partly by the
government and partly by the contractor, it was proposed
to take authority to tame the sum of 53,000 i. As a
great portion of this sum was only to be temporarily
advanced, it was proposed to raise the whole by
debentures at short dates, so as to admit of
its being paid off at as early period. The gua-
rantee enjoyed by this company being in the form of
• rate io aid of profits, to an amount not exceeding 30,030/.
a year, a return of only 6,0001. a year over expenses was re-
quired to pay 64 per cent. interest on 600,0001., to which
amount the capital would be temporarily extended, until
the accounts with the government and the °actuator were
arranged."
The CRAIRM•N moved the adoption of the report, which
was adopted, as were also resolutions carrying out the pro-
posals it contained.