The Express.
London, England, 1867-02-08 00:00:00

GREAT EASTERN.

The directors of this company have just issued their re-
port. It states that the total recepts for the half-year end-
ing the 31st December last were 9116,2911., and the work-
ing expenses, Lc., 512,616!., leaving ne. trdlic 483,678/., to
which was added 3,718/., the balance from the preceding
half-year, making the total 487,396/. From this was de-
ducted 97,774/. for rents to other companies, 142,223/. in-
terest on mortgages and debenture stocks, and 32,1501. in-
terest on temporary loans, together 273,1471., leaving a net
balance of 214,2491. applicable to the payments of dividends.
The amount would pay in fell the dividends on all the
preference stocks of the company for the half-year, amount-
ing to 183,3251., and leave a balance of 30,9241., which,
under other circumstances, would be applicable to the pay-
ment de dividend on the ordinary stook, but inconsequence
of the arrears of preference dividends brought over from the
first half of the laud year, and the company's special acts
requiring the whole year's income to be applied to the pay-
ment of dividends on the preference stocks according to
their priority, the net revenue would fur this half-year re-
quire to be distributed as follows: 1. To pay the half-
year'. dividend upon preference stock (4,844,7,2/4 entitled
the full dividend for the first half-year—namely, 118,818!.;
2, to be applied in laying the full year's dividend upon pre-
ference stock next in priority (1,122,6001. created under the
act of 1862)—namely, 56,1301. ; 3, to pay a dividend for
the year equal to 3/. ha. lid. per cent on the stock next in
priority (1,181,8251. of five per cent stock, created under
the act of 11463)—namely, 39,298/. Having in view
arrangements now in progress, the directors confidently
anticipated being able to pay those dividends, as also the
deferred warrants issued in September last, on the 4th April
next. The board had anxiously deliberated upon the course
which should be pursued to restore in the public mind
that confidence in the value of the company's pro-
perty which the sound character of their undertaking
ought to insure. They were happy to be able to state
that having communicated with Mr. Samuel Laing,
M.P., late Finance Minister of India, that gentleman
had consented, should the nomination meet with the
approval of the proprietors, to join the direction on
the condition and understanding that lie might restrict
his labours principally to the financial affairs of
the company. The board, however, considered that
if Mr. 'Laing was to undertake so onerous and responsible
a duty, the company should show the aprecia t ion of the
exigencies of the position by voting to bin, the sum of
5,01.10/. With a view to obtain a portion of the traffic with
the northern and western distnets negotiations hail for
some time past been in progress and and the directors trusted
at no distant day to be able announce a satidactory
conclusion to their labours. With regard to the general
position of the company tls directors desired to
express to the shareholders their contlf4oll that
with a united and earnest action upon the part of
the executive and the shareholders the fortunes of this great
and important undertaking would be at length restored to
the position which they ought to occupy. The directors
could conscientiously say that they did not believe that the
undertaking. apart from its exceptional financial state, wan
ever in a inure sound or healthy condition than at the pre-
sent moment. The capital acouuut showed that 23,018,0721.
hail hem received to the slat of December last, and
24,1Z3,200/. expended, including 322,007/. .luring the
past half-year, leaving a balance against the company of
1,105,1281.