The Express.
London, England, 1868-07-21 00:00:00

LONDON, BRIOBTON, AND SOUTH COAST
RAILWAY.

The report of the directors to the meeting
of the 30th instant has been issued. The liabilities,
when the directors took office a year ago, amounted,
according to the estimate of Messrs. Price, Holy-
land, and Waterhouse, to 2,323,1771., in addition
to 876,8701. for lines which the company was
under parliamentary obligation to construct. Authority
has now been obtained to abandon these lines. and the
remaining liabilities are reduced, according to the latest
estimate, to 293,611/. of admitted liability, and about
175,00 W. contingent on the result of the reference to the
Duke of Richmond in the Surrey and Sussex, and Chi-
chester and Midhurst cases. To meet these liabilities the
company has unexercieed debenture power under the act
of the present session for upwards of 500,0001., so that,
as far as they can see at present, the directors do not an-
ticipite any necessity for issuing any pin of the
1,000,000/. of ordinary stock authorised by this act.
The total amount expended on capital account
during the past half-year has been 178,8001.,
consisting entirely of expenditure upon new lines in
progress, or abandoned, or in winding up the ac-
counts of lines recently opened, every shilling expended
on old lines or plant having been charged to revenue.
The expenditure on lines recently opened was 53,9771.
7s. 7d. ' • on lines in progress or proposed to be abandoned,
124,8211. 19s. 4d.; together, 178,7991.65. I Id. The com-
parison of revenue receipts and expenses shows that the
total traffic receipts for the half-year ending 30th June,
1867, was 634,569/.; forthe half-year ending 31st December,
1867, 700,793/.• for the half-year ending 30th June, 1868,
'
575,3581.; the total working expenses and renewals for
the respective periods being 442,6371., 406,9331., and
341,236/. This result is considered by the directors to be
very satisfactory. The receipts have increased by 40,799!.
over the corresponding half-year, while the expenses have
diminished by no less than 101,301/., so that the increase of
net profit amounts to 142,1001. There has been a large
and p 'ye reduction under every considerable head
of expen iture,which may fairly be attributed to the exer-
tions of the officers, the greater efficiency of the line and
stock, and the rigid economy which has been everywhere
enforced. According to the rate at which receipts and ex-
penses are now going on, the ex of the whole of the
year 1868 will have been redo in comparison with them
of the year before the present directors took office, from about
76 to 55 per cent. of the receipts, and from about 4s. 4d. to
3s. 4d. per train mile. The sum included in the revenue
charges of the present half-year for repairs and improve-
ments of old lines and stations, which would formerly have
been charged to capital, amounts to 21,369!., which repre-
sents the cost of working with a closed capital account.
The accounts for the half-year show a balance of revenue
over expenditure of 243,5781. 15s. 10d. ; to which must be
added the balance from last half-year, 1,008/. 175. 4,1. ;
making a total of 244,587/. 13s. 2d. Of this the payment
of debenture and other interest requires 94,908/. ss. 9d. ;
leaving available towards payment of the preference
interest, 149,6791. 7s. sd. This will suffice to pay the full
half-year's interest on all the preference stocks up to the
issue of 1,661,33.51. 5 per cent. stock, No. 6, 1866, on
which half the half-year's interest can be paid, as shown
below:—Half-year's interest on-7 per cent. preference
stock, 1859, 7,7001. ; 6 per omit. preference stock, Nos. 1
and 2, 1845, 1869, 12,335/. 6s. 7+l. ; 5 per cent. preference
stock, Nos. 1,2, 3,4, 5, 11415, 1847, 1631, 186.3,
43,100!. 13e. lld. ; 45 per cent. preference stock,
1858, 114.59, 1861, 1863, .54.083/. los. Id. ; 4 per
cent. preference stock, 1859, 1800, and 1865, 8,0,8/.
Full half-year's interest on the foregoing stocks,
126,297!. los. 4d. ; half-year's interest on Five per Cect.
stock, No. 6, 1566, 41,533/. 7s. 6+l. ; moiety thereof pay-
able ad iaterrns, 20,766/. 13s. 9d. ; payable on account of
preference interest, 146,064/. 9s. Id. ; leaving a balance
to carry forward to next half-year of 3,614!. 18s. 45. As
the gross revenue of the second half-year always exceeds
that of the first by about 150,00!., while the expenses
are not above 30,000!. or 40,000/. in excess, it is morally
certain that there will be enough net income at the end
of next half-year to pay the full year's interest on the
entire preference stocks of the company for the year
1868, with a small surplus. The directors feel, therefore,
that as the result of their labours for the year they have
been in office, they may fairly congratulate the
shareholders on seeing their property rescued from
insolvency, and restored to a position of perfect
soundness, with a closed capital account and all
preference charges provided for, so that any increase of
receipts, from the development of traffic, cannot fail to
accrue to the ordinary shareholders.

MEL.ASCHOLY BOAT AMIDE:CT.—On Sunday
afternoon, about five o'clock, a boat accident took place
on the river, just above Battersea-bridge, opposite Batter-
sea church, by which • young couple lost their lives • few
hours after they had been married. A young girl, sister
of the bride, who acted as bridesmaid, was also drowned.
It appears that the illfated young couple, whose names
were John Betsworth, a plasterer, said to have been living
at Hendon, and Sarah aads (the wife's maiden name),
were married at Camberwell church in the course of the
morning, the sister of the bride, Ann Chads, and a young
man named Thompson, taking part in the ceremony. The
part dined together, and went for • stroll over
to elsea, the parents of Betsworth accompany-
ing them. It was then proposed to have a
trip on the water, and they hired a pleasure
boat at Mr. Alexander's yard at Chelsea. The parents
said they would remain on shore, and the party of four
went out in the boat, the man Thompson rowing. It is
said they intimated their intention of going up the river
a short distance to see some friend.. The boat was
pulled over to the Surrey sideof the river, and on coming
near some barges moored off Battersea church, the
boat it seems came in contact with the craft, and went
under them, the party who were in the boat being
immediately thrown into the water. It is stated that the
young married couple an the sister disappeared almost
immediately, and were drowned. The only surely
Thompson, after passing under the barges, contrived to
cling to the boat, and was picked up. It is repo-ted th it
the catastrophe was in some measure caused by the wrong
stern line being pulled and the boat so steered ag iinst the
barge, when she was drawn under. The boat is licensed
to carry four or five persons, and had never met with a
mishap before. Drags were immediately used with a
View of recovering the bodies, but up to last evening none
had been picked up. The distress of the parents", who re-
mained on shore, when they heard of the sad event, was
of the most poignant description, and they could scarcely
be induced to leave the place. The deceased couple were
neither of them more than 21 years of age. The sister
WWI younger.
A FALL OVER THE CLIFF AT B.AMSOATZ.—
About midnight on Saturday last a man named Richard
Moyne, about 36 years of age, was seen by a police-con-
stable walking along the edge of the Rapt-cliff, and when
he got beyond the barricadingpost, the Augusta stairs, he
suddenly disappeared. The officer concluded that the
man had fallen over the chff, and at once made his way
to the bottom. He there discovered him lying between
the cliff and a railway passenger waggon. The poor fellow
had fallen • distance of about sixty feet, and came down
with such terrific fora as to break one of the iron steps
attached to the and the wooden footboard. As-
sistant* was obtained, and Moyne was picked ap still
alive, and conveyed to the Seamen's Infirmary, when it
was found that be had broken all his ribs on one side, and
injured his lungs. He still lies in • very precarious condi-
tion, and is not expected to recover.
" IT is with great pleasure that I send you this
testimonial of the efficacy of your invaluable medicine. I
was suffering greatly a few weeks ago from severe pains
clout the kidneys and excessive weakness in the back, ac-
companied with nauseous sickness, confined to my 1,01,
when a friend who had known and experienced great gold
tr. m WM' Fain Killer, brought me a bottle, which I used
the best irsiuit:;, and am now free from all pain.' awl
iii— A StinotErre, Woodside, Aberdeen, Oct. 21,
by as nokl.c:lic --(Advt.]