The Express.
London, England, 1867-02-21 00:00:00

SOUTH EASTERN RAILWAY.

The report of the directors to the meeting on the
2stb inst. shows that the entire income for the half-yeor
Las amounted to 704,212!. 50. 811., being a diminution, as
compared with the corresponding period of bat year, of
6,8671. Ids. 5,1. The ordinary working expenses—es will
appear by the statements—amount, for the past half-year,
to 297,090/. 34. 4d. the rates, taxes, tolls, and govern-
ment duty to 46,084/. Bs. 7d. ; and the expenditure on the
steam packet service to 15,3461. 12a. 11d.; making a total
of 338,521/. 4s. 10c1., or an increase of 17,619/. 16e. Id. over
the outlay for the half-year ending on 31st January, 1866.
The balance available for this purpose on the ordinary
stock, after making provision for rents, interest, and other
fixed charges of the company, is 116,3734 14e. 3d. This
sum will pay a dividend of N. per cent. per annum, and
leave a balance of 1,8271.25. 3d. to the credit of the next
half-year. The directors, therefore, recommend a dividend
at this rate to be paid on Friday, the 15th
day of March. A comparison of the traffic receipts
of the present halt-year with the corresponding
period of last year exhibits a decrease of 9,462/.
7s. 6d., of which 4,3501. 4s. 4d. is attributable to the
falling off in steamboat traffic, and the balance to the
ordinary passenger traffic. The directors feel it is scarcely
necessary to point out to the proprietors the difficulties
which railways generally, and especially the South
Eastern as essentially a pasenger line, have had to con-
tend with in the peat haltyear. The continental war, the
cholera, both at home and abroad, the severe winter, and
the exceptional state of financial affairs in this country,
together with the deficient crop of hops. and other pro.
duce, have all combined in an eminent degree to
deprive the company of an increase of traffic, which under
ordinary circumstances they were justified in anticqatinr.
In adverting to the lees of tniffie by reason of the nem.
onleeted storms and the blocking up of many parts of the
line by snow in the month of January, the directors mon
add that not only was the running of the trains on some
portions of the railway almost suspended, but very Leary
expense was incurred in restoring the line to an effichtt
state of working. The directors feel sure that when then
passenger traffic shall sane to be infiueneed by the
dicial effects which have been produced by the yams.
causes above referred to, the improved facilities which toe
company's metropolitan termini afford cannot fail to Inn
the beneficial effect upon the traffic which was °Agilely
contemplated. Although the falling off in the grovei
of hops during the past season has affected the go*
traffic to the extent of 2,7471., this department, by is
improvement in other sources of revenue and a stun
economy in the expenditure, has still maintained its us
form amount of profit. The accounts of expenditure is.
curred in working the line (including all ordinary charger
on the traffic) show a comparative increase of 16,384'.
10e M. Of this sum 9,999/. 11s. arises in the looocicti,,
department, and is attributable to larger renewals in order
to be ready for the Exhibition traffic, to the increas4
train mileage sad higher rate of weals, and in part to the
embarrassments above alluded to. lalubetantial repairs to
the steamships, so as to render them in all respects equal
to the important service which will be required of thpm
in the coming summer, have involved the additional
outlay, as compared with the corresponding half.
year, of 2,144/. 19s. 10d. Attention may also be
called to the heavy charges (comprised in the
above sum of 16,384/. 10s. 6c1.) for poor and other pare-
chial rates, under which bead appears the large increase
7,246/.175. M. This additional charge is ascribable to the
heavy assessments in the metropolitan districts ; but the
directors hope by vigorous measures to lessen in future
years these undue demands upon the earnings of the com-
pany. The arrangements, both as regards the train and
boat service, in connexion with the Northern of France
Railway Company, for providing for the increase in the
continental traffic which may be expected at the approach.
ing Exhibition in Paris, have occupied the caref
atten-
tion of the directors and officers of the company, and it is
believed that the plans organized will fully meet the re-
quirements of the occasion, and ensure the greatest amount
of convenience and comfort to all classes of visitors.