The Express.
London, England, 1860-08-07 00:00:00

LANCASHIRE AND YORKSHIRE RAILWAY.

The report of the directors, to be submitted to
the half-yearly general meeting of the 15th instant, has
just been issued.
The amount of share and mortgage capital chargeablo
on tevenue to 30th June, 1860, exclusive of the leased lines,
is, it appears, 18,598,2571. The expenditure on capital ac.
count during the last half-year amounts to 126,442/. 17e. 2.1.,
of which the following are the principal items :—Enlarge.
meat of stations, main line, 12, .D 2/. ; ditto, Manchester and
Bolton line, 7,4531. ; Manchester and Southport, land,
9,8271. ; West Riding line, stations, 7,773/. ; Blackburn
line, 7,420; rolling stock, 62,3971. The receipts of the
company, 918,2541., against 620,695/. in the corresponding
half of last year. The disbursements were as follows
373,5241., against 333,4411. iu 1859. The increase in the
traffic receipts referred to in the last report has continued
through the whole of the half-year ; 631 new waggons, sup-
plied iu the half-year, have been barely sufficient to keep
pace with the growing business which the trade of the
country is constantly throwing on your lines of railway.
The balance of the net revenue of the company,
applicable to the payment of dividend on the
consolidated stock, amounts to 342,7371., and out of this
your directors recommend to the proprietors to declare a
dividend at the rate of 5 per cent. per annum, less income
tax, and to carry forward the balance, 10,1631. to next half.
year's account. The working expenses, which, with taxes
and passenger duty, amount to 374,5331., or 401 per
cent. on the gross receipts, include a large out.
lay in repairing and improving the company's
working stock, and your directors are assured,
by the reports of the beads of the rolling stock departments,
that the stock is in good order and condition. The renewal
account, which now embraces the amalgamated lines, has
been debited with a sum of 23,1441. 14a. 6d. for rails,
chairs, sleepers, &c., and credited with 15,0001. trans-
ferred from revenue account. The balance at the
debit of the renewal account is now reduced to
24,8211. ll*. 6.1., against 44,9141. sa. 10d. steadies to its
debit at the corresponding period of 1859, and against
51,529/. 5.. 6cl. in June, 1858 ; showing a diminution of this
account in favour of the company, in two years, of .12,7071.
14s, although since the latter date the East Lancashire
section of the railway has been brought into the account.
The estimate of capital expenditure teethe past half-year,
submitted to the last general meeting of proprietors, was
136,500/. Of this amount 126,442/. 17s. 241. has been ex.
pended. The estimate of the requirements for the current
half-year is, for waggons, 16,00 W. ; carriages, 12,000/.:
en-
largement of stations, 70,0001. ; additional land, 10,0001.0 f ;
engines, 20,000/. The parliamentary opposition
the company to the proposed Wakefield and
Doncaster line of the Great Northern Company was success-
ful ; a committee of the House of COl=lollls has again de-
cided against this project, thus showing, as the directors
anticipated, that in the judgment of parliament this
line is wholly unnecessary. The directors also "successfully
opposed, in conjunction with other companies, the traffic
arrangement bills introduced into parliament by the London
and North-Western, the Great Northern, the Manchester,
Sheffield, and Lincolnshire, and the Midland com-
panies, manyy of the provisions of which, froin their
exclusive character, were regarded as being exceed-
ingly detrimental to your and neighbouring railway
companies, and calculated to interfere with those
friendly arrangements which ought to subsist among
them ; and the directors trust that the strong expression of
feeling which these measures have tailed forth will he suffi-
cient to prevent any attempt to revive them in any future
session of parliament. Several other measures affecting the
interests of your company were prosecuted in the last sees
sion of parliament, and opposed by the directors, most of
which were either withdrawn or rejected."