The Express.
London, England, 1868-02-21 00:00:00

SOUTH BASTERIV.

The report of the directors to the half-yearly
meeting, on the 27th inst., has been issued. The accounts
exhibit, as regards the receipts, an increase on the gross
earnings for the half-year of 80,0541.145. 101, as compared
with the corresponding period of last year ; while, at the
same time, there is a decrease on the total working ex-
penses of 7,814/. Os. 2d. After making provision for all
fixed charges, rents, tad interest on the whole of the
capital expenditure on lines and stations productive and
opend of onrtrcrw. the
edasadm stockrex ing applicable to
divi-
This
sun is equal to the payment of a dividend at the rate of
4/. 12s. Pd. per cent. per annum, but the directors recom-
mend that the whole of the interest on capital invested
in unproductive works, including the direct Tun-
bridge line, be charged to revenue ; deducting
this suns, there will remain 153,8M1. 81.. which
is equal to a dividend on the consolidated stock
after the rate of 41. per cent. per annum, as against 31. per
cent. in the correspondint period of last year, leaving a
balance of 1,0911. 12a., and this dividend the directors
recommend to be paid on Thursday, the bth day of March.
Revenue will thus bear all interest charges on the entire
capital for the half-year. The passenger traffic shows an
increase of 65,635/. ls. Bd. The estimated portion of this
increase resulting from the traffic to and from the Paris
Exhibition since the Ist of August is 33,163 in the number
of passengers, and in amount 24,7971., and the remainder
is to be attributed to the steady growth of the local traffic
in the districts now so accessible to the metropolitan sta•
tions of the company. The receipts on the goods, cattle, and
mineral traffic have' exceeded those of last year by a sum of
:1,388/. 15s. ld., there being also a comparative decrease in
the costof tionyeryanceand working generally of these depart-
ments to the extent of 1,367/. lls. 8.1. With regard to cost
of working, the directors congratulate the proprietors on
the result of the half-year, from the fact that notwithstand-
ing the large number or passengers carried sod the serious
cost inseparable from the frequent and rapid services
during the latter three months of the French Exhibition,
the expenses, including the steamboat exwnses, are less
by 5,440/. 7s. 4d. than that of the half-year ending
January, 1807. As exaggerated reports have been eiren•
lated, the directors deem it their duty to state that
the cost of restoration and improvements (by the use
of unintlammable materials and otherwise) rendered ne-
cessary by the fire at the Custom-house building at
Charuageroas station on Tuesday last, as estimated by
the engineer, will not exceed 4,0001.
. . . .

The -auditiirs report that the 'accounts contain a full and
true statement of the financial condition of the company,
and that the dividend proposed to be declared, at the rate
of four per cent. per annum on the consolidated stock of
the company, is bon& fide due thereon, after charging the
revenue of the half-year with all expenses which in their
judirnient ought to be paid thereout,

BAST LONDON.

The report of the directors states that considerable
progress has been made in the construction of the line, though
not to the extent they expected. The covered way is com-
pleted to within 20U yarb of the Thames Tunnel, and the
works to connect the covered way with the tunnel are in
active operation. The embankment is nearly completed
to the junction with the Brighton railway, and from this
point to the north bank of the Thames the line may be
ready for traffic before the end of this summer. Beyond
the purchase of property, and the construction of the
works referred to in former reports, no progress has been
made on the north side of the river, for until the issue
of the share capital is complete, and the borrowing
powers are obtained, the important works in the
London Docks cannot be commenced. On the whole,
however, notwithstanding that disappointment may be felt
that the works have not proceeded more rapidly, and that
the confident anticipations of the directors as to the rate
of progress have not been realised, still the inherent sound-
ness of tbjs railway remains, it being the only line which
will bring the traffic from the south side of the river
directly into the heart of the City, and the only line
eastward of Blackfriartebridge by which there will be
uninterrupted communication between the northern and
southern systems of railway. The constant omnibus
traffic to and fro from north to south, with the long
through traffic, cannot fail to produce a very remunerative
income, if this company be kept intact, and neither exten-
sions nor new works be grafted upon it. The directors
have been obliged to prepare a bill for this session of par-
liament to procure an extension of time for the exercise
of compulsory powers in taking land, and, if necessary, to
modify existing arrangements with the Great Eastern
Company, as well as to improve the connexions with the
Brighton LIDO at New-cross, which will require the pur-
chase of a small piece of land beyond the present limit
of deviation. All the expenditure of the company has
been paid in cash, and no bond, or other similar security
J
on the property the company has been issued.

Erox CoLisoz. The annual steeplechase
among the students, which causes. no small degree of inte-
rest throughout the school, came off yesterday. The course
wee about three miles, starting from the Bsuitorium, Eton
Wick. somas the country towards Cippenham, abounding
with stiff fence, and wide ditches, bearing round to the
right by the village of Chalvey, crossing Chalvey fields,
and over the well known brook finialung in the Timbrala
class by the college. As usual there was a lame field, and
the winners were, Benson 1, Calvert 2, Johnstone 3. This
is Calvert's third NUM of running sesond.
UNITZD KINGDOM RAILWAY 071110ER8' AND
Aasoceenoe.—Leat evening the twelfth

yearb mooting of the United Magda; Rialto, Miens'
ad Somata' Association and Railway Provident Society
was held at the Landau Tavern, Rialwagate under the
presidency of Mr. larjeant Tindal Atkinson. The helium
sheet showed an increase of receipts and a decrease of ez-
pooditure as compared with the previous half-year. The
funds were augmented in the haM-yeer which closed the
Mat December last, to the extent of upv.rards of 1801., and
after providing for all outlays there remained in hand a
balance of 1491. The Railway Provident Society Once its
commencement in May, 1863, had paid 6,5001. to members,
their widows, and orphans. Only 39 claims were made
upon it in the past pm Many new donations end
ealworibere had been obtained for the George Stephenson
Weak while the PISA= and Accident Fund heal enabled
omunittee to algid pecuniary assistanoe in leveed
ern d assiimit in formally moving the adoption of the
own the leased eleirwan made a warm appeal to the
emorellog Yd timoveleat public to support the meaty,
'podgy
ou;gl2 the claim it ought to paean y Oe
ti=attherew are ay°°nomwlrieupeanrooditene epsadus.
lb. 4::;
et the moiety via., four of 251. per easkaa. end earl et SOL
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dials el 111 nia and 17 women. Mr. Road=
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