The Express.
London, England, 1867-08-15 00:00:00

MIDLAND.

The report of the directors of this company
states that there had been an increase in aU descriptions
of traffic upon the railway for the past half-year ; the
receipts, compared with those of the corresponding period
of 1868, showing the following result, viz. :—An increase
from coaching of 25,816/. ; from cattle of 7,3491. ; from
merchandise of 2,840/. ; from mineral. of 24,6771. ; total
increase, 130,682/. The gross amount of the traffic for the
half-year was 1,365,8531., to which had been added74,7B7/.,
taken from the balance due to revenue from the amounts
received from the Great Western Railway Company under
Mr. Phipson's award, and from English and Scotch traffic
obtained under the decision of the Court of Chancery,
which had not been included in the weekly traffic returns.
The working expenses of the half-year had exceeded
those of the corresponding period of 1866. The excess had
arisen partly from the payment out of revenue for the re-
construction of the Apperley Viaduct; for the repairs to
other works damaged -by the floods which occurred during
the autumn of last yesr, from theinciressedexpense incurred
in working the traffic over the lines of, other companies
during the interruption occasioned by the fall of the via-
duct referred to, and by the great landslip at Bugsworth,
which occasioned the closing of the new line to Manches-
ter after it bad been opened for goods traffic, and to the
continued advance in the cost of labour and materials. The
balance available for dividend was 500,0341., including
6,5.51/. from the previous half-year. The directors were
enabled to recommend the declaration of the following
dividends, less income-tax, payable on the god day of Sep-
tember next :-21. 15s. upon each 1001. consolidated stock :
2/. Is. 3d. upon each 100/. consolidated Birmingham and
Derby stock ; 31. upon each 100/. consolidated preferential
stock ; 3/. upon each 100/. consolidated Erewub Valley
stock ; 2/. sa. upon each 1001. consolidated 44 per cent.
preferential stock ; 21. upon each 100/. Leicester and
Hitehin preferential stock ; 21.55. upon each 100/. conso-
lidated irredeemable 4i per cent. preferential stock, toge-
ther with dividends of 5 per cent. per annum on the A
and B stocks and other stocks. The dividend recom-
mended was less than that declared for the corresponding
half year et 1866. This diminution had been occasioned
chiefly by the continued large outlay upon new lines and
works not yet productive, the amount under this head
during the half year having reached shout 5,000,000/. The
directors had negotiated as agreement with the Metropo-
litan Railway Company for the nee of the railway be-
tween the St. Pancras branch of the Bedford and London

Railway and lefoorgate•street, including the stations
King's-cross Farringdomstnet, Ahleragate-street, LadMoorgate•street. Moorgate-stivet. The object of the arrangement wu to
enable the Midland Company to run its own trains into
the heart of the City of London, and to connect the
land system with other railway companies south of the
Thames, and with the meat and poultry market at Sinitb.
field. The terms for the use of the railway were a mileage
proportion of the passenger fares, lid. per ton fur goods,
and 4d. per ton for minerals, up to 50,000; 3d. per to for
every ton beyond 50,000 tons in any one year ; the remits,
from the traffic to be not less in amount thee 4,0001. for
the first year, 5,0001. for the second, 6,0001. for the third,
and 7,000 i. for tie fourth and subsequent years. The
rent of the Moorgate-street station was to be 4,000/, to,
the fist year, 4,5001. for the second year, 5,000 L for Me
third year and 6,0001. for the fourth 'and subsequentyears. The rent for the nee of all the other stations ins
to be 5001. per annum, subject to revision at the expire.
lion of three years, and to cease if the Midland Conquer
ceased to nee those stations.