The Express.
London, England, 1866-11-01 00:00:00

CHOLEiLI AND DIARRIKEA

LICATHS :•EGIFTEBED OS 11:t .11.11 T, °Cron' 30.
l'evulatiou estimated
to middle
of 1866. Matra.
, Ettribis.
West districts
North districts 696,021
... .
Central district. ... 360,219
. .
... • 1
East districts 607,915 -
South districts

Total In Lon,ion ... 3,037,991 14
General Itogiaterefliee, Soniereet-hoten, Ofi,il.

THE GREAT EASTERN RAILWAY.

The annexed communication has been a&ineld
to the shareholders of the Great Eastern Itia,,y
by the Chairman
- • • -

Bishopsgateadation, London, per s
To the Proprietors of the Great Eastern &dew'
have thought it my duty, before issuing the new peti...,_••••
capital, to obtain, for the informatinu of the propek,--"'
report of the views of our chief otficerwith referteditTd!
position of the undertaking and its prospects, sad /
subjoin a copy of the letter addressed by him to tOt•
4.
rectors on the subject. C. H. TURNER, Claw,.
Iliehopegate, Oct. rid*
To the Board of Directors of the Great Fastens
Company.—Gentlemen,—ln accordance with y,,,,,""7
tions, I have carefully considered the matters yo,
referred to me, and have to report on than as follow..
Taking my report of August last and the amounts
company as a bean, I am of opinion that thesizad
of
three and a quarter millions now about to be r • si
the loan powers of one million attached thereto, gal be
minor amounts still to be obtained from pistil.,
should suffice to pay off the company's ontetandiugheta—st,^
and complete the proposed portion of eleven sills
Metropolitan Extensions. There may possibly he asst.
ceas on the engineer's present estimates on these wet,
but if the capital required be now raised, so as to eels
the company to complete its obligations and proceed
the works without interruption, the excess, if any, salt
not to be so serious as materially to disturb tie resit
Assuming the company's liabilities and engsgewsissi.
eluding the proposed Metropolitan Extension) sthss
four and a quarter to four and a half millions, tad Zia
the capital be raised in the manner now /imposed, /ad
opinion that in 1671, when the Man lints e ti,
t
be banded over by the contractors ready for me, the ifs. •
puny shoal, by the increase of traffic on in pews
lion, the reduction of working expenses, and the wasp
of the metropolitan lines, he in a position fully to dim
the charge for interest and also the dividends cn its wes
preference stocks' as well as to provide a surples for dui.
soon amongst the holders of ordinary stock. Withespeal
to the prospects of the compauy betweer. the presets toss •
and 1871, I ern of opinion that the income will stye
meet all the interest and preference charges Is at •
current half-year ; and although the differesoe in reee*
between the June and the December half-years nay**
wards possibly occasion a temporary difficulty, yet, mil
into aooouut the growth of traffic and saying of opus
which may be secured, and lemming that the clog is
raised as proposed, the net yearly inane should Mani
meet the existing annual charge for interest sad din*
and the further chargesthat may accrue between ler in
1871, and should also before the latter year predates ass.
plus available for ordinary divideraL Ou the Tartu
traffic, notwithstanding your position hitherto, I maw.
tied that, taking one year with another, your offresell
be olden secure an increase which (though lea thin*
be obtained in busier centres of manufacturing Woo
will yet go a long way towards helping the comma
of its preaeut difficulties. On the question of mewl
am confirmed in the opinion expressed in my repce, ;
Large reductions are attainable. To some ertentesie .
tions have already been made, and it only opine tit
the board and officers steadily proserere in the ens
commenced. to secure very maternal and valuable,
'With regard to the metropolitan lines, not lovingness
perience of the gentlemen who at your ro:iiest remain
them, I am diffident of expressing any opinion theme
but it appears to me that the conclusions they mins
are to a large extent justified by the experience of dr
metropolitan railways ; and in considenng year pin
with reference to these lines it must be borne in tisitls
to a very serious extent the company is absolutely
witted to them ; that if they could be now gives vain
company would have to pay a heavy penalty faller
abandonment. and would otherwise have to provide leis
extended goods accommodation, which is much rid,
and forms a portion of the project. For these prim 1
and the other liabilities of the company a collided/pp ,
tion of the proposed capital must under any ciresonau
be raised, and therefore, without estimating that nibs
will pay of themselves in the find instance, I conduit
the beet course for the company new to prime its
co on with them. Ravin.; thee expressed my sews
the several matters referred to sae, I may lerft
recapitulate the result, by stating that if all parting
unite to secure the interests of the company. sad tie*
(mired capital be raised as proposed at l per eent,tles
is nothing, in my opinion, in your posibou or hails
which cannot be surmounted, but that your offees,sp
ported by the board, may so far increase the reseneel
reduce the expenses as, with the earnings tress the SW
pelican Extensions, to enable the company to pay step
Terence dividends on the new capital, and slashes'
surplus for the ordinary proprietors.-1 WE, rads,
your most obedient servant, d.tiot II SWAISILICL