The Express.
London, England, 1859-02-08 00:00:00

GREAT I,IBTIVI RAIL W 4 F.

The statement of the receipts and expenditure of
th 4 company has ju,t ben baud. It show. that 23,601,4361.
bad been rewired to the 31,4 of December last on capital ac-
count. and 23,23716641. expended, issrias a balanos of
363,9311. The receipts pa account of Aare capital amounted
to 13,029,2411. tincluding 4,790,8791. co preference thane),
and 10,672,2441, oa debew unto, loans, &0., making tywher
23,601,436 L The expenditure on the main lines sad working
stock amounted to 10,903,7861.; on the 1.7-` - sad Hew-
-^,233/.

,
ley branches. to ; the Weed. W verhamptos,
sad Dudley lino, 8,716,2771. ;on Ms Wilts, Somerte, and
Weymouth, 1,676,6771.; en the Diderot deviation nar-
row gauge rails to Basingstoke, fork at Reeling,
narrow gauge junction at Reeding, end other jaw-
bone, 244,51,81, in subeniptions end diabtueensate for the
South Wales, South Dena, Gloucester and Dam Fors•
Wile, Somerset, and W Oxford, Worcester, end
Wolverhampton, Corn filmwehery, Wycombe, Ply-
mouth and Greet Welters Doak, end North Metropolitan
Railway, 1,943,5341.; sod nader votes of proprietors for
new rolling stock, new ata.ion at Paddington, and other
etivion• accommodation, 1,596,4861. ; making the total ex-
penditure, as above, 23,237,6641. The revenue account for
the Greet Western Fee for the half-year ending Decerobe
31 last, shows that 862,948/. had been received, including
26,834/. far rests, dividemds, latesest es cash haleness, end
am of plant ; and 3287021. weeds& including 18,3421. fur
duty, 16,9121. rates sal taxes, 3.5001. towards
Cratird iparliementary avows, end 2,000/. reserved
kr evabetal debts, leaving • Warm for the half-year of
13401.111. To this sum Is added 37,1741., the balance from
Me precediag ammo ; 3,f101., balance of remits
enema a the Kara Ned Ana Canal ; 1,8831., dlvideed
• Ilaset Davos ohms; led 8,2364 dividend on South
Wales ems, mahhe Masao 674,6701. Out of UM 111112 is
dednelid 10,1881. for guarasteed sminaka to the Wilts,
Somerset, and Weymouth, and Kama sad Avon Canal ;
16,8641.„ mat charges for the Glooeiseee sod Doan Forest,
Ree, Rem, sod Ohoceeter lad Wycombe Railways, end
puniest to trustees of are ; 16,8031., We on
he.. of Sonde Weise Railway, 1,6431. toward. loss
Incurred prior Ie lean 1864; Mak the
of Kennet and Awe Coal. lam to the WM leZtls.2
1866 ; 249,0411. Ice am lamest alinomin on lems,4llo
Wood cm Berk' and Haste Women am% 1101. Meshy
realm admerlptione, 1074111. band ftrat Weans
as stock and 11/.2821. ha maks sp dellaimey
MUM cm the Shrewstr/Ird ; total, 41111,U111.
dd
• Moveable blame of I 4321. Out of this sso (t
In regard to Molars a M al the eats el 9 pr else.
Wseem ea 1i,517,2714. befog far the half-yeer 82,3721.,
ang a Mimes of 114,0691. for the next account.
The expeditors os maul aloon.nt of the Shrowebary lass
amounted on the 31st of December last to 3,477,391/. The
re‘reue of the Shrewebury lines for the halt-yi at ending se
above, amounted to 127,796 L, after declacting 6,2361.
expenditure in respect of teak over Birkenhead lime and at
Birkenhead ; and 73,6641. upended, including 2,7401. foe the
reconstruotios of part of Chub 'laded in mammary in lien of
wood, sad 4,031. for a moiety of the apace in relaying
So miles of the Chester lute, including emeria's having •
belanre of 54,1441, to me. t 20,4481. fur interest on debentures
ad fors sad 48,9871. for dividends on preference end
shares, making together 69,4351. and L 7 leav-
7711elkitney of 16, n 21., which has been paid
one ef the revenue of the Grad Wisteria company.
On c aparing the receipts of the (brat Western lime for the
pest half-year with those of the corresponding half of 1867,
an iscresee of 5,4951. is shown, while at the same time a de-
moue cf 10,6621. had been effected is the ampenditurs, thus
Increasing the net receipts by 16,0681. The receipte on the
Shrewsbury lima for the half-year aiding December, 1858,
amonated to 127,7981., and for the correepeeding half of 1857
to 128,6421., 'bowies a decrease of 8141., while the working
expenses were reduced by 2,3721., noterithatuding an extra
aped tan for renewals of permanent way end bridges, bl-
ooming the net receipt" by 1,528L,as compared with the cone-
Ltairhell of 1867. The commercial depecesion had • serious
redocing the trafik on railwsyspecrally, and Gerais° ,
the Ghent Wanes Railway attends red actin not traffic acorn.
mon with where, particularly dialog the first belief 1868. The
total receipts for the year 1858 amounted to 1,697,3961., and
for the year 1867 to 1,618,4081., showing • decrees of 16,0131.
The expenditure for the year 1858 amounted to 649,6321.,
and for 1867 to 688,6221. showing a decrease of 38,9901.,
which had the effect of increasing the net receipts free
revenue by 19,9801. as compered with those of 1867. After
de %eta( the toll and expenses in re.pect of the Birken-
head Ins and station, the revenue es the Shrewsbury line"
moonetel for the past year it 233,3521., end the expenses to
146,2241., and for the year 1867 the receipts mooted to
262,9811., and expiates to 160,8181., enemas a datum is
the receipt' for the year of 19,639., end is the calmness of
4,3061., notwithstanding an extra outlay of about 7,0001. in
the renewal of way and bridges, leaving the net demere of
15,0261. The bac os thus and other Northern lines was
considerably reduced in consequence of the commercial de-
preariiite. The furl her mine. ion of working expect-ere during
the year 1868 to the extent of 43,6841, on the Great Winona
sad Shrewsbury line", showed the socce,sfol effete made
by the executive to Will the promises mole to the clurr
holden resioctiog the redaction of euendittare in conducting
the talk.

The aysilable balance for dividend on the oedinary stock
sad chores for One past half-year amounted to 146,4311., in-
cluding 37,1741. from the preceding account, and to
102,6261. for the corresponding period of 1857, including
10,0111. from the preceding amount. Deducting the stuns
brought from the preceding aocounte, the am amount avail-
able for oreltuary divided from the revenues resources of the
past half year would amount to 109,2671., and far the cot-
responding half of 1867 to 92,6161.. showing an Marrs e 3
16,6421. in the sum available for dividend in favour of 'bawl
half-year. On compute/ the stun paid UN interest ea limas
and pretenses shares with the same item for the corre-
sponding ball of 1867, • reduction of 10,6621. appears la
&avow of the put half-year, although the interest is on a
larger amorist of capital. :Aa loaar fall doe, they are, of
course, being mewed at • loner rate of interest, end that
crzwill probably continuo for time time to come, ro-
the cheap for interest half-yearly.
Owing to the depression of tide and the eV tikes of
canoes, the eft Opt' have been dinonishird on the South
Wales tins, in wtrch the Great Western have • large in-
terest, and this circumstance ban boded to reduce, by several
thousand pneeds, the sum available fur ordinary dividend.
The animal revisal of trade, and the development of teat&
on the Great Waken system, and lines in connexion there-
with, moat from time to time tend to increase the sum and-
able for ursine, dividend.
Ameaded to the statement of accounts is a report from
a special committee of dire.tors on the subject of axing the
mount of capital likely to be required far the exigencies of
the company. The special committee consisted of the Hen.
F. Poneontiy, Viscount Barriaron, the Earl of SW-
bostgl3dr. T. Badger, Mr. 8. Biker, Mr. R. Loaning, Mr.
M. W. 1011 a. sad Mr. J. Weems. The rep.rt states that
after an elaborate sad minute investipation, the conualitte
were of opinion that 77,0001. for the completion of certain
works should be aided to the amount of spited expended by
the company on the 3lst of December I et, maktag together
23,314,656!, From this sum they deducted 102,0001. for
surplus 'nude matte r 1 end ti be realised, and added to the
remake'. r 75,8031. fir the outs ending sad estimated liabili-
ties on the Met of December, 1849, making a tetra of
23,288,3681. From the beet in'ormation tat committsecould
obtain they cake lead that, with strict economy, the further
expenditure of capitol, in providing increased sta-
tion acodum denote sad 'dill lone! roller; stock during
the next three year., also, fur alterations of We,t
London Rade'', would not exceed 130,0001. in the
aggrobate, of which 20,000 f. might be required
during the current half-year. This estimate did not
peovide far doubling any further portion of the tipple line
of the Wilts, Somerset, and Weymouth Railway, nor for
any outlay in building new manses either at Birmingham
or Reding, for the improvement of whkh, however, • com-
paratively small amount had be n 'Bowel. They coesitinted
it • duly to t eetpoos any outlay whirl would not produce an
immediate rotutra, so long so Um revenues of the compeer
were lasaMeient to pay lb' proprietor. a more nentinerasive
dividend. Subject to those obervioions, the committee
thought they were jo.ofled in fixing the capital expenditure
for the Great Wesiera liars proper, Including all lkbilitias
sad beespectice requirements op to the end of the year 1861,
a covered by • roses= of 23,420,0001. The Uregolog did
not tsarinas any rovidoa for payment of the remaining sub-
smirks, about 140,01001., authorired fir constructing the
Metropoiitaa Medway, watch wee far the premed in sus-
pees., bat which, If atereatery, would be rated and- r the
powers granted for thet siecifie purpose. The committee
ware of opinioa that no permanent t barge fur capital re.:eipts
would batmen. be require I exceeding the sums which bad
:Mtla the aeceunts during the past year. They were led
that when all socouots were wound up an average
diatoms of about 330,0001. to 350,000/. over the actual comsat
espenditereworikl to sufficient foe such purposes. With re-
spect t r the Shrewsbury espial account., thaw, DOW closed to
she sod of 1858 would repreoeut, as farm the committee could
judge, the total amount which would be required for their se-
parate purposes. That sum in the aggregate was 3,267,3031.,
exeloaive of the Saar Valley enbemiption. With teepe.t to
the sewage ream fur the amount of capital invented, as
derivable from the revenues of the company, the committ.e
state that during the 3 ear 1868 the lac ioe of the company,
after cl- bap ing every charge and expose and ell Axed rents,
bad paid on the a/repos capital of the Great Werern and
the Marawebury railways a net annum of 969,1601., divi-
sible among all chwee whine cartel had hose employed,
equal to 362 per cent. p• r annum. The loan creditors and
the pater, nee share h lifers bad received, of tour..., the full
amount of their respective claims, cud, consequently, the
ordinary shsrahoMete have no:rived kos than their pro-
perticsate pert is the dietributi, n. Oa the other band they
would exclusively drive all tho benefite from increasing
iasseusch se the pti.r engegetuerds of the com-
pany hal be-a more than submintially °witted for out of
Sae present income.

Tim Nton Exemvox.—Yeeterday (Monday)
the mow stews assalitan, cf tbs Niger Eiptiqui, MUCK(
at Liserlool wolf a ono of pen oil. TM Afrioml Mail
Comigeey'a Kier stamer Amnia& b doe at Liverpssl

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