The Express.
London, England, 1857-07-18 00:00:00

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LONDON, DRIGIITON, AND SOUTH COAST

LAILWAY.

We have received a copy of the report of the
directors and the amounts :

" The accounts for the half-year ending June 10, 1812,
are subjoined, and show the follojing reeulta amount
of capital mired to the 30th of June, 18.37, is 7,797,2151, con•
slating of mortgage debt, 1,942,93. x/.; debenture stock, 1,000/.
preference capital, 1,234,7261. consolidated stock, 4,618,5141.
The total capital outlay during the past half-year has been
6,6231. The principal part of this sum has been cx-
ptaded in the completion of the telegraph, which now
extends over every part of the company's lines end in
the construction of works, &c., necessary for the era .101110-
dation of the public. The amount of unexpended capital at
this date being only 1,088!., and there being several works
which cannot longer he delayed without injury to the traffic,
it becomes the duty of the directors, in accordance with the
intimation conveyed in their but report, to call upon the
proprietors to sanction en application to parliament for
powers to raise a further sum of 200,000/. It has been so
often demonstrated that business can only be developed and
carried on with safety and advantage by a proper Clemons
of the requisite appliance., that the directors do not
feel it necessary to revert to the nutter further than to emirs
the proprietors, that, while asking them to approve of this
application to parliament, they will take care that no part of
the amount is expended without the preepect of a satisfactory
return; in the uwantime, they do not anticipate that any
large portion will bo immediately required, but in applying
for such powers, they think it better to provide for contin-
gencies which may arise. The gross revenue for the half-
year has been 349,2241., showing an increase of 6,5461. over
the correeponding half-year of 1156. On examining the de-
tails, it is satisfactory to find that, although in the corres-
ponding half-year of 1856, a very large revenue wee derived
front the naval review at Spittle's', the pence tostivities and
the return of the army end navy with their munitions of war,
during the last half-year the trattie has reached en amount
higher than that of the period in which those unusual sources
of revenue occurred, a result exceeding any expecta-
tion which could have been reasonably farmed. The pro-
prietors will be glad to learn that there is every reason to be-
lieve that the West End line will bo completed to the river
side by the end of the year, and judging from the manner in
which the local traffic has thus far developed itself, the direc-
tors look forward with confidence to the realisation of their

expectations-
as regards that line of railway. The 800
weather which prevailed during the past half-year enabled
the directors to proceed rapidly with the relaying; accord-
ingly 131 miles hove been completed, and there now remain 10
mita le finish the main line throughout. This work is pre-
(Owing. and will be executed lxibte the cad of the year. As
previously announced, the whole of this outlay is to be borne
by revenue, which hue been ngain debited with 3,0001., being
the proportion due to the past half-year. The attention of
the directors has been heavily taxed during the current am- ,
sion of parliament, by the introduction of bills affecting the'
interests of the company. The only. bill which the directors{
were not snores:4W in opposing one for a now line to.
Epsom, starting from the South Western line hawses
Wimbledon and Malden. This bill was grantech although
it woo clearly alien to beboa competing line which had pre-
viously born re.jectol by Parliament, not only when thie
Company's Epsom line wile originally granted, but also in a
subsequent moisten. At the last half-yearly meeting the on-
ningemonts entered into with the Mid-Sussex (Horsham to
l'etworth), and the Lewes end tekileld Companies were re-
ported to and sanctioned by the proprietors ; the bills of
there companies have subsequently passed the House of
Commons, havo been unanimously approved by a special'
meeting of this company, and have been read a second thus
in the House of Lords. The net amount at the credit

of the revenue Greount for the half-year to 115,927 k, out of
which the directors recommend the payment of a dividend of
2} per cent, for the half-year, amounting to 115,464/.
leaving a 'balance to the credit of the current half-year of
4631. The directors next in rotation to retire at tho first half-
-7eeel7 meeting in 1858 are—William Coninghany Esq.,
fd.r., James Scott Esq., and James Whishaw, Esq.',

TUE PARMA RAlLW,ors.—By a decree of the 4th
WA. the Denham regent of Parmaluu approved of the con-
cusions for the construction and working of the railway from
Piacenza to the Sardinian frontier, to a company composed
of the moat respectable men in Piacenza ace Milan. The
gratin meg c 1400,003 lino has bun *lady dignified.