The Express.
London, England, 1866-08-09 00:00:00

THE EXPRESS, THURSDAY o t • f), 1860...;

LONDON, BRIGHTON, AND SOUTH COAST

11.41617.4 Y.

The report of the directors of this company, to
be submitted to the shareholders, at their meeting on the
21st inst., says:—The amounts for the half-year end-
ing 36th June, 186 ti, show the following results :
Capital account : The amount received on capital account
on the 30th June, 1866, Is 15,494,9611., consisting of
ordinary stock and shares, 5,369,2011. ; preferential stock,
6,32.6,5611.: mortgage debt, 2,500,590 f. ; debenture stock.
1,298,6091. ; total, 15,494,9611. The amount of capital
expended has been 822,8841. The gross revenue has been
529,3021., showing an increase of 32,8441. over the corre-
sponding half-yeas of 1865. Had it not been for the cold
and unfavourable weather dining tho spring, the increase
would, no doubt, have been greater. There has been •
large augmentation in the working expenses, arising from
the additional mileage worked, from an increase in the j
rate of wages, and from the outlay in the improved sig-
nalling of the main line, necessary for the purpose of I
ensuring the safety of the traffic. The directors
are making every effort to reduce this expenditure,
so far salt can be done without prejudice to the service.
The proprietors will be aware that the bill promoted
jointly by the South Eastern and the London, Chatham,
and Dover Railway Companies, for the London, Lewes I
and Brighton line, has received the sanction of parlis; j
meat. Considering the decisions of parliament in three
former sessions, and the obligations which this company !
had taken upon itself when before previous committees
to accommodate the district of East Sussex and Surrey on
the faith of them repeated decisions, the directors cannot ,
but express their surprise and regret at a result so entirely
at varianoe with that of previous years. With the above
exception, the effm is of the directors against the earw-
ig,/e
n schemes of the South Eastern and the London, Chat-
haz, and Dover Companies, were attended with success. I
The lines promoted by those companies from Black-friars to
Remington, Clapham, and Brixton, with the extension
towards Richmond, and the several lines projected upon
Croydon, were all thrown out. This company ob-
tained their bill for an extension to Hastings, but the
intended expenditure of capital will be avoided, an agree-
ment having been entered into with the South Eastern
Company, securing to the Brighton Company a joint con-
trol, and an improved position in the meant station at
Hastings, which the South Eastern Company are to en-
large, granting at the mine time to this company rights of
user of their present Ett. Leonard's station, heretofore used
only by that company. The company's Various rowers
Bill has also received the royal assent. B 7 it the com-
pany's capital under their numerous acts is clearly stated,
consolidated, and defined ; powers are obtained to con-
struct a short spur near Shasharn, and to contribute
towards the capital of the Surrey and Sussex, and the Chi-
chester and Midhurst lines, and a special meeting will be
held immediately after the general meeting for the pur-
pose of enabling the company to exercise these powers. The
works in pxogrw are proceeding satisfactorily. The por-
tion of the South London line constructed by this com-
pany between London-bridge and the Barrington-road,
Brixton, is completed, and will be opened during the
present month. The rest of the line from Barrington-
road to Wandsworth-road, where it joins this company's
lines leading to Victoria, is in course of construction by the
Chatham and Dover Company for this company's use, and
will be completed in • few weeks, and this compeny's line
from Wandsworth-road to the Victoria station is in an
equally forw rd state. It is impossible to exaggerate the
advantages which will scene when these lines are opened
for traffic. Instead of the joint use with the Chatham and
Dover, and the Great Western Companies, of two lines of
rails over the Thames and into Victoria, this company will
poetess for its exclusive use three lines of rails from Vic-
toria to the point south of the Thames, where its lines
will diverge to the south London system on the one hand,
and towards Clapham junction for its main line stem on
the other, and the new main lines will be •sby a via-
duct over the South-Western Railway, entirely obviating
the present junction with the lines used by the Chatham
and Dover and Great Western Companies at
Stewart's-lane, and avoiding the passage of all main
line and suburtien trains round the severe grommet that spot ;
thus the unavoidable difficulties and delays which have
hitherto arisen in conducting the trails to and from the
Victoria station will be effectually put an end to. Con-
currently with these improvements a third line of rails
will be completed as far as the Balham junction, where
the main line trains leave the local lines. In connexion
with these works the company have obtained for the first
time an independent access to London-bridge by three
additional lines of rails, controlled is 7 their own signals,
and an enlargement of the London-bridge terminus, equi-
valent to • doubling of ita former area and means of 'mom-

moilation. On the other hand, the completion of the
South London line, giving a new and shorter route be-
tween London-bridge and Victoria, and West-end and
City accommodation to Rotherhithe, the Old-Kent-road,
Peckham-rye-lane, Denmark-hill, and Brixton, to be ax-
tended when the line, which is in forward progress, is
completed through Dulwich, Streatham, and Mitcham
to Sutton, must produce an amount of traffic
which !experience has shown to be always de-
rived from lines in the vicinity of the metropolis.
The directors having now virtually completed these
works, are able to state, the outlay being no longer a
matter of estimate, that their total coat compares favour.
ably with that of neighbouring companies who have under-
taken the construction of metropolitan lines. As regards
the other works in progress, the Kemp Town Branch and
the Ouse Valley Lane are being proceeded with. As to
the former, nearly all the land is purchased, and the con-
tract was let in November last. The contract for the
latter was let in February. The line from East Grinstead
to Tunbridge Wells 11 completed, and only awaits the
approval of the Board of Trade. This will bring upon this
company's line a share of the Tunbridge Wells traffic,
which must be largely increased when the Surrey
and Sussex Railway is opened. The lines from
Leatherhead through Dorking to Horsham will be
opened in the autumn, and thus a second
route to Brighton completed, and the working of that por-
tion of the company's system much facilitated, and a con-
siderable traffic may be expected from the town of
Dorking. The only remaining line is that from lickfield
to Tunbridge Wells, completing a direct line between the
latter town and Brighton, which will create a large traffic
between those two favourite places of resort and resi-
dence. Thedelayinopening theluie has been caused entirely
by the contractors, who have been urged without avail to
make the agreed progress with the works, but which, front
this reason, cannot be completed till the end of the year.
Powers have been obtained by as independent company
supported by the district for the construction of a line
front Steyning to Pulborough, forming an important con-
necting link at a moderate outlay in this company's sys-
tem of lines in West Sussex, and giving a direct route
between Brighton and those localities. Arrange-
ments have been made with the promoters
under which the line will be constructed, and even-
tually form a part of this company's system.
The proprietors will learn with regret that Leo Schuster,
Esq., who for so many years discharged the duties of
chairman with so much labour and anxiety for the in-
terest of the company, has retired from the chair, but he
still retains his seat at the board, and affords the company
thebenefit of his great experience. Peter Northall Laurie,
Esq., has been appointed his successor. The net amount
at the credit of the revenue account is 110,835/., out of
which the directors recommend the payment of a dividend
for the half-year at the rate of 4 per cent. per annum,
amounting to 107,190/., and leaving a balance of 3,6451. to
the credit of the current bait-year. The directors next in
rotation to retire at the first half-yearly meeting in 1867
are, Sir Frederick Leopold Arthur, Bart., James Scott,
and James Whisbaw, Esqrs. The directors regret to
report the death of Jeremiah Heber, Frq., one of the
auditors of the company. It remains with the proprietors
to elect a successor.

LONDON BRIGHTON, AND SOUTH COAST RAIL-
WATThe
.—board of directors have decided upon recom-
mending the payment of a dividend for the past half-year
at the rate of 4/. per cent. per annum on the consolidated
dock of the company.
TOTTENHAM AND HAMPSTEAD JUNCTION RAIL-
WAT,—The usual half-yearly meeting of the proprietors of
this railway was held yesterday, at the ofaoee, No. 2,
Westminster-chambers, Victoria-street, Westminster, Cap-
tain Arrow, chairman of the board of directors, in the
chair. The report submitted by. the directors stated that
the progress of the works during the half-year had, on
the whole, been satidactory. The company's bill of this
session, for authorising an increase of 100,0001. in the share
capital, and also to empower the Great Eastern and Mid-
land companies to purchase the entire undertaking, had
received the royal assent The directors' report was sup-
plemented by a report from Mears. McCleanand Stileman,
who announced that the earthwork had not been
proceeded with so expeditiously as they had expected,
and this bad delayed the construction of the stations.
The permanent way would be laid throughout daring the
month of September, and the railway might then be used
for the exchange of goods and mineral traffic between the
Great Eastern and City and Hampstead Junction Rail-
ways during the construction of the stations. The balance
sheet showed that the receipts to the 30th June lied
amounted to 346,521/. his. 4d., of which 66,0001. consisted
of temporary loans, and the payments to the same stun.
On the motion of the chairman, seconded by Mr. T. Pain,
the report and statement of accounts were unanimously
adopted, with which the business of the ordinary meeting
terminated. A special meeting was to have been then
held to authorise the directors to raise 100,0001. by the
three of new shares, under the provisions of the act just
passed, but for reasons which he did not specify the
chairman said it was not intended to proceed in the matter
at present, and a vote of thanks to himself and his ca-
laboose concluded the proceedings.
(Advvrtisement. )--HoLLowAy's Pius. —Grateful
Carminatives.—When bowel complaint rages and cholera threat-
sae' ite: gof EtW short madness
whicht disregard
and shine ns
I convey to us. The ebovZiled' Mils are
or this very purpose. and admirably have they hielierte taWled
their Mice. Their purifying Thiess bobs comblaed with the
I mast spaded tisanes, use ear Mee Ike drededin from every
taint, bat Meese the dreamlike hem aillemdmlldsi vaagke,
end renege every mesa, and tleareMelges=, hest
cams. tor children, and for when from hest
passes.
been delicate, Holloway's PSI. am y6'616107 he-
mime they set 011144. are rani kilo% sal *Mtn
the bowel.

MIDLAND RAILWAY.

At the half-yearly meeting of shareholders, on the 14th
inet.,the reportwiil be presented. It states :-The directors
have ;gain the satisfaction of reporting to you as increase
Is all-descriptions of traffic upon the railway for the past
half-Year, with the exception of cattle, the receipts com-
pared. with those of the corresponding period of 1865
beint as under:-From coaching-442,7621., showing an
increase of 44,556/. From minerals-304,438!., showing an
increase of 21,172/. From merchandise-574,0671., show-
ing an increase of 64,4251. From cattle-9,3681., showing
a degrease of 5,6661. The result of the whole being that
the gross amount of the traffic is 1,330,625/., and the total
increase 124,487/. These amounts include 25,453!. of un-
disputed traffic divisible under the English and Scotch
agreement, and not included in the weekly traffic returns.
balance available for dividend is 482,9591. 13a. 5d., of
which the sum of 11,7041.35. BcL is brought from the account
of the previous half-year ; and the directors are enabled to
recommend the declaration of the following dividends (leas
income tax), payable on the let day of September next :-
3/. upon each 1001. Consolidated Stock ; 21. 6e. 3d. upon
each 100/. Consolidated Birmingham and Derby Steck ; 31.
upon each 1001. Consolidated Preferential Stock ; 3/. upon
each 1001. Consolidated Eyewash Valley Stock ; 21. sa.
upon each 1001. Coneolidated 4i per cent. Preferential
Stock ; 2/. upon each 100/. Leiceeter and Hitehin Preferen-
tial Stock ; 21.6 a. upon each 100!. Consolidated Inedeem-
able 44 per cent. Preferential Stock ; 21. 10s. upon each
1001. A 5 per cent. Preference Stook, and 2s. 61. per share
upon each 5/. perpetual 5 per cent. Preference Share ;
21. 10s. upon each 1001. B 5 per cent. Preference Stock,
and 2s. per share upon each 4L perpetual 5 per cent. Pre-
ference Share ; 3a. upon each 9!. share, being half-year on
5/. per share, at 6 per cent per annum ; 4a. per
share upon each 18t. 5 per cent. Preference Share,
being half-year on 81. per share, at 5 per cent per annum ;
2s. 11d. per share upon each 18/. Inconvertible 5 per cent.
Preference Share, being half-year on 41. per share, and 166
days on 2/. per share at 5 per cent. per annum, leaving a
balance of 4,617/. 12s. 11d, to be carried to the account of
the current half-year. The working expenses of the half-
year have conzidarably exceeded those of the corresponding
period of 1865 ; the increase has arisen partly from the
general advance which has taken place in the payment for
nearly all kinds of labour, partly from the increased coat of
materials, end partly from the maintenance of an eddi-
Venal length of railway. The proprietors will also observe
from the accounts, that 1,350,4831. has been expended upon
the lines and works in course of construction, and as these
are for the moat part unproductive, the interest upon the
cost has to be borne by revenue. These causes
combined will sufficiently account for the diminu-
tion of the dividend now proposed as compared
with that of the corresponding half-year of 1865.
The rolling stock is in good working order, and during
the ha"-year ending June 30th, 18116, the mileage per-
formcd by trains has been as follows :-With passenger
trains, 2,423,819 miles ; with goods and mineral trains,
3,443,604 ; total, 5,867,473 miles. Compared with the
corresponding period of last year, this shows an increase
of 310,473 miles. The renewals of locomotive stock for
the half-year have been 10 engines, 35 carriages, 18
break-vans 11 horse-boxes, and 2:10 waggons, the entire
cost of which has been charged to revenue. Permanent
way has been reconstructed to the extent of N3i miles
of railway ; some of the stations have been enlarged and
improved, the entire coat of which has been charged to
revenue, and the works generally on the main line and
branches are in a good state of re • After referring
to the railway legislation of the on,.the report says:-
The directors have pleasure in reporting that the suit
which has been so long pending in the Court of Chancery,
between this company and the companies parties to
the Englishand Scotch traffic agreement, has been decided by
Vise-Chancellor Kindereley, in favour of the Midland
Railway Company upon all the points raised. Resolu-
tions will be proposed at the meeting for consolidating
or converting into capital stock of the company such of
the " Midland five per cent. perpetual U. preference shares,
1863," and also such of the " Midland five per cent. per-
petual 41. preference shares, 1863," as shall have been
i
fully paid up since the last half-yearly meeting ; also to
enable the company to exercise borrowing powers n roped
of "The Midland Railway (Extension to London) Act,
1863," " The Furness and Midland Railway Act, 1863,"
" The Midland Railway (Bristol Line) Act, 1863," and
" The Midland Railway (New Lines and Additional Powers)
Act, 1863 ;" also for the following expenditure on capital
account: land, additional works at stations, &c.
200,000/. It is necessary for the proprietors at this
mating to appoint five persons, each -holding 2,0001. in
stock or shares of the company, to meet in January next
to select and recommend to the next half-yearly meeting a
suitable person to be appointed in the place of the audi-
tor then retiring by rotation. • After the ordinary business
is concluded, the meeting will be made special, for the
purpose of considering, and if thought fit, approving and
confirming certain heads of agreement made between the
Midland Railway Company and the Brenham and Redditeh
Railway Company.

Vann intelligence.

COURT OF BANHICEYPTCY.—Arauerr 8.
Mr. Commissioser Hoiroyd disposed of several applica-
tions for leave to issue execution in trust deed sues.

of ILL SZWIJA, WARNZIL
The bankrupt was described as formerly trading in co-
partnership with Mr. Thomas Fatten Howard, under the
style of Warner and Howard, at Tehran., Redoubt Hall, in
the Canaan', in the empire of Raasia,as contractors for the
'apply of railway sleepers, and also trading with Mr.
Emmons, jun., at 106, Minories, as ship-chandlers and pro-
vision merchants. This was • mitring for examination and
discharge. The bankrupt states his failure to have arisen
in consequence of losses in the Caucasus, by the illegal
seizure of the whole of his property by the Russian govern-
ment. A statement of amounts shows the follow-
ing items :—Creditors unsecured, 21,1721. ; liability on
joint promissory notes guaranteed by Mrs. Batson,
2,518/. ; and creditors to he paid in full, 1,6721. The
bankrupt alleges that in September, 1864, the Russian
government seized the whole of his property and effects,
consisting of railway sleepers and plant, of which he was
• contractor. The same authority also pro-
hibited as
dirim from loading the several ships which he had
chartered in the port of Tcheurs. In respect of this
alleged illegal seizure the bankrupt claims • sun of
38,189/. from the Russian government.
Mr. Smith appeared for the assignees, and Mr. Reed for
the bankrupt.
His Honour, in the absence of opposition, granted the
order of discharge.

some deeds, deposit receipts, and other documents, and I
asked him (witness) to lend him 31., which be wanted m
order to get possession of a box containing a good deal of
gold and silver, front an office near the Royal Exchange.
He further stated he was to be married the next week
to a young lady resident in Chnonbury. On throe
representations and believing the statements of the pri.
sonar as to his relationship to Dr. Brunton and his connex-
ion with Dr. Slater, he lent him the 31. and went with him
into the City. On arriving at the Royal Exchange the prisoner
went up a doorway, stating he would be lback directly
,
but though he (witness) waited upwards of ea hour he did
not return, and witness never saw him again until be was
in custody.__The evidence of Dr. Slater, of Arthur-
terrace, Caledonian-road, established the fact that the
prisoner was not a brother of Dr. Bruntoo, who was ill
in the country. With respect to the prisoner's statement
as to driving about with him (Dr. Slater), it was
entirely false, as he bad never seen the prisoner until he
was in custody on the present charge.
The jury found the prisoner Ouitty, and he was sen-
tenced to be kept to bard labour in the bowie of **erection
for six calendar months.