The Express.
London, England, 1865-02-10 00:00:00

LONDON AND BLACRWALL RAILWAY.

The report of the directors shows that the gross
revenue, with the balance of 362/. Os. 3d. from the previous
account, amounts to 70,131/. 9s. l ld., and the expenditure
to 23,1251. 14a, leaving a net profit of 47,0061. 15s. 11d.,
from which the interest on debentures, amounting to
10,0541. Os. 7d., bas to be deducted, and there will then re-
main a balance of 36,9511. 15e. 4d. available for dividend.
With the balance of 36,9514 15e. 4d., the directors are
enabled to provide for the dividend on the preference stock,
whisk will amount to 5,6261. 4s. 9d., and to recommend
the payment of a dividend on the ordinary 'took, at the
rate of 41. 2s. 6d. per cent. per annum, which will amount
to 30,0921. 18e. 2d., leaving 1,2321. 12e. sd.
to be carried to the credit of the eurreet half-year.
The dividend for the year 1864 amounts to 31. 17s. 6& per
cent, as compered with 31. 15e. per met paid in 1853. The
amount of capital expended during the half-year has been
11,W271. 16s. 10d., making the total expenditure 2,168,21311.
51. sd. The total receipts amount to '2,165,6554 10s.,
leaving a debit balance of 2,6054 15e. sd. The question of
moat importance that has to be brought under the con-
sideration of the proprietors (but which will be the subject
of the special goosed meeting, after the conclusion of the
general business of the day), is the proposal for granting a
lease of this Roe to the Great Eastern Railway Company.
The revival originally received from the Great Eastern
Railway Company was as follows, viz. :—"That this cool-
cyactelrepared to take over the whole undertaking of
Railway Company at an annual payment to
be provided by the ems of a conipeteet amount of prefer-
's°, stock, which shall give to the holders of ordinary 'to&
• dividend of 4 per cent. for the first year, with an increase
of a quarter per cent. for the two succeeding years, and
thenceforward • dividend of 4i per ant." Bearing in mind
the opinions that from time to time have been expressed by
the shareholders with reference to the dears -blooms of
leasing this line to one or other of the larger rail-
way companies, the board felt it their duty to give this offer
their careful consideration. and ultimately arrangements
IMO wads with the Great Eastern Railway directors that,
subject to the approval of the proprietors, the Great Eastern
Railway Company should take • lease of this undertaking
for the term of 999 years, at the est annual rent of 41. 10e.
per cent on the omitted stock of the company, without any
dada:dim whatever, excepting for property or income tax.
In pursuance of these arrangements, a bill has been intro-
duced into parliament to enable this company to grant, and
the Greet Eastern Railway Company to accept, • lease of
the London and Blackwell Railways on the terms above
stated. From the communications the sharenoldere have
received, they are aware that the decision of the board, in
regard tothe propriety of agreeing to the terms for the lease to
the Great Eastern Railway Company,wea not unanimous. The
majority of the board are strongly of opinion that under all
the cirmeastanoes affecting or likely to affect the position
this company, the terms are such as it world be advisa-
ble to incept, at the same time submitting that it is •
question on which the proprietors should judge for them-
selves. Acting in concert with the Great Pastern Railway
Company, the directors have in the present minion renewed
their application to parliament for powers to west:rod a
railway in the Isle of Dogs. Bills have been deposited la
parliament for several prefects which may affect this one-
pany, and which will require the attention of the directors.

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The cue of Albert Samuel Saalfeld, whose tim-
pani= eloady followed that of the Leeds BaeldegOew-
pony, was finally dieposed of yesterday in the Leeds Bank-
ruptcy Quirt by Mr. Onconiseigaer Wed. His Smear
pointed out that the bsskrept bad reedered himself Babb
to the german punishment by Wain( es filikio4lll=
by contractigg debts without having Oa
prospect of bring able iodinate's* thew, by his hazard-
ous sesegistions, and by his extravagant style of living.
On these growls, and acting on a precedent which he con-
ddered fan lass serione, he refused altogether to grant the
certificate. The effect of this judgment. If not twrtnedhe
appeal, is that the bankrupt is promoted from mph own-
- wooing badness in this constry, and that be is liable to be
, isepriseaed at the suit of any auditor for more than 201.,
sit who bas not preyed upon the adate, ea bin eldnhOt2
' went saint the bankrupt. —Lads Mercury.

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