The Express.
London, England, 1867-08-10 00:00:00

NORTH EASTERN RAILWAY,

The directors report that the receipts from MA:
for the last half-year &Mounted to 1,800.437 f. a,
.
10,1584 in seems of those for the eserespeeding patied
1866. After providing for the Mimed ese the debantu,
debt, for the rent of leased linos, and for the dividtud,
a/Masses of preference stocks and shares, there Make th.
following balances to the credit of the revenue accomd. of the different sections via.:—On the Berwick strode
2133,269/. 10s. 2d. ; on the York account, 71,096/. t, 74.4.
on the Leeds account, 18,083/. Os. 6d. ; on the Ceded,
account, 42,5311. lfia. Id. ; on the Darlington &maw
71,8681. Os. Bd. Out of the above balances the diredte;.;
recommend that dividends be declared on the
stocks at the following rates, leaving the balances staki
to be carried forward to the next ball/ear, viz. :
Irate per Cent. Ware et„ Rat
em
On the Berwick ordinary stock per annum. VA% unt
17 t.
York do.
„ Leeds
14 Is
„ Carlisle do.
„ Darlington do. 7
Thirst and Melton stock .. 4 41. 13 2
Whilst the general trade of the country has not bees ia a'
satisfactory condition this company bas been specwil
affected during the past half year by a strike of their
ee.
gine-drivers, and also by an increase in the price paid fw
coal and coke, consequent on the termination of ensues
a year ago. Having regard to these cimundances, and
bearing an mind that revenue has, as usual, been charged
with interest on the whole expenditure on capital actoust,
the directors consider that the results of the half.yeda
working may be regarded with satisfaction. of the
500,0001. new 5 per cent. preference stock erectedand offered to the shareholders in Huth
461,019/. 10s. has been issued to this date.
A contract for the construction of the cattiest he,
through Leeds, which will connect the company.. ho e
with the joint station now being erected there, ban rietecy
been let on favourable terms. In their last report tic
directors stated that they had not found it necessity to
promote any bill in the present session of parliament
they have now to inform the shareholders that withe.i
appearing before any parliiumentary committee they See
been able to arrange for the protection of the company's
interests so far as they were likely to be effected by con.
sures introduced by other parties. The auditors of the
company have presented a report, which is appended to the
statement of accounts. Having given the subject der
special attention, the directors have no hesitance 3
assuring the shr:reholders that the accounts in is
various departments are kept in a satisfactory manner,
and that an efficient system of audit is adopt L
The directors cannot conclude this recrvrithout refer.
ri
ng to the la etrike on the part of a majority oi
company's engine-drivers and firemen. That meet. .41
its termination, must be so fresh in the recollection of the
proprietors that it is unnecessary to enter into any de ede
relating thereto. It is to be regretted that a step so al,.
justifiable should have been taken by • body of Ma, of
whom • large number bad been for • long time in the see.
vice of the company, and in receipt of high wages. The
directors have pleasure in informing the shareholder that
very valuable and important assistance was render...Her-
ing the strike by many persons largely connected with the
manufacturing and mining interests of the district, sal
the deem it right to record their muse of the zeal rad
ability diaplayed by the company's officers and semen ce
the occasion, by which the directors were enabled to cm.
duct the traffic with comparatively little inconvenient to
the public, and speedily to overcome all the difficulty. in
which they were placed.