The Sun.
London, England, 1855-01-25 00:00:00

RAILWAY INTELLIGENCE.

LONDON, BRIGHTON, AND SOUTH COAST.
The directors of this company have just issued their
half-yearly report. :R states that the capital raised to
the 31st of December last was 7,690,3651., consisting of
1,837,0351. mortgage debt, 1,237,6431. preference capi-
tal, and 4,615,6341. consolidated stock. The total
amount expended during the haltyear has been 90,503/.,
of which 33,834/. has been expended on the fourth line,
the Crystal Palace branch, and the London-bridge ter-
minas ; 33,1241. on additional plant, and the remainder
on works necessary for the safety and convenience of the
general traffic. The large increase of traffic has shown
the absolute xeceseity of the additional works and plant
which have been provided ; and a simple statement of
the fact, that the gross income of the company has in-
creased from 453,4081. in 1843, to 715,1361. in 1854,
affords the best explanation of the increase of capital.
Of the 252,000/. new 5 per cent. stock, 200,05 W. has
been raised, leaving 51,9501. still to be appropriated ;
and 49,3351. by mortgage, out of 107,070/. The balance
of unexpended capital, applicable to further works, is
therefore 109,635/. The gross revenue for the half-
year has been 396,4421., showing an increase of 31,7201.
over the corresponding half-year of 185:. Of this
increase 3,0051. arises from goods traffic, and
27,7911. from passenger traffic, of which 24,9161.
arises from the Crystal Palace traffic. The re-
ceipts for the half-year ending the 31st Decem-
ber last amounted to 334,3191., and for the correspond-
ing period of 1553 to f 53,927/., showing an increase of
30,3921. The total expenses amounted to 177,3361.
against 148,3411. in 1853, showing an increase of
23,995/. With respect to the large increase of expendi-
ture, it is stated that the working of the Crystal Palace
traffic has of course bean attended with new and distinct
expenses, which, since its opening on the 10th of June,
have amounted to 15,0001. The remaining excess of ex-
penditure is accounted for mainly by two causes—
namely, firstly, that the repairs and renewals of rolling
stack have been very extensire, in order to keep pace
with the demands of the increasing traffic—no less than
five new engines have been built, at the cost of revenue,
during the past year ; secondly, in a still greater degree
that the effect of the high prices of coal, coke, iron, tim-
ber, and all other articles required for railway purposes,
and of the general rise iu the wages of labour, have now
been fully experienced for the first time. In the article
of (-eke alone the increased expenditure, as compared
with the corresponding period of 1853, has been not less
than 5,5371.
A comparative statement of the traffic on the line
shows that in the year 1848 the traffic amounted to
453,408/., including 349,977/. for the conveyance of
2,485,773 passengers, 10,427/. for season tickets, and
61,4931. for goods traffic, andin 1854 thereceipts amount-
ed to 715,1361. including 492,4341. for the conveyance of
6,339,533 passengers, 32,664/. for season tickets, and
131,800/. for goods, showing an increase of 261,728/. in
the course of six years. During this period the mileage
of the passenger trains increased from 904,625 in 184 S,
to 1,323,074 miles in 1854, and the mileage of the goods
trains from 214,683 to 611,890 miles. The total ex-
penditure increased from 187,0871. in 1848 to 324,670/.
in 1854, rhowing an increase of 137,5831. in the expen-
diture during the six years, including an increase in the
taxation from 39,9551. to 44,247/. The total charge for
mortgage debt and guaranteed capital amounted to
104,0411. in 1848, and to 136,2131. in 1854, and the
dividend from 3/. 12s. per cent, in 1343 to 51. 123. per
cent. ix 1854. The total direct receipts from the Crys-
tal Palace traffic since its opening on the 10th of June
to the end of the year have been 37,2381. and the total
expense of conducting the traffic 15,0101., leaving the
net profit 22,9381. The total expenditure of capital on
Crystal Palace branch, and for purposes applicable to
the Crystal Palace traffic, including the rolling stock,
may be estimated as not exceeding 200,0001. The ami-
cable relations with neighbouring railway companies
t
continue undh.tiirbe
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making the total cfilidend for the year 51 per cent.

NORTH STAFFORDSHIRE.
The report of the directors of this company reminds
the shareholders that the traffic has been worked under
the arrangement with the London and North-Western
Company, and in accordance with the terms laid down
ley Messrs. Stephenson arid Hope Scott. The accounts
present a dividend of 31 per cent. on the paid-up capital
of the company. The directors have reason to hope that
the delay interposed by the committee of the House of
Commons in the passing of the Amalgamation Bill, for
the purpeso of enabling he adverse interests to consider
such proposals as the united railway companies had
made, and might hereafter make, will not be extended
beyond the present session. As being particularly con-
nected with the North Staffordshire district, the directors
are most anxious for the adoption of the Amalgamation
Bill, inasmuch as, irrespective of the increased economy
which would result in the working arrangements, and
the advantages which would accrue to the public gene-
rally, it would insure the completion of projects which
they have for some time had in view for the accommoda-
tion of the district, and plaee permanently the populous
towns of the Potteries and Newcastle on the high road
between London and Manchester. The capital account
shows that the company are authorised to raise 5,820,0001.,
of which the sum of 5,102,2481. has been raised, includ-
ing 1,170,0001. in respect of the canal, and leaving a
balance of 717,7521. ❑ncalled. Ths capital account of
the railway shows that 3,937,7331. has been received,
including 1,105,8761. on loan, and 3,934,481/. expended,
leaving a balance of 2,855/. The traffic receipts for the
half year ending the 31st of December amounted to
122,427/., and the expenses to 56,627/., leaviug a balance
of 65,8001, The receipts on the canal amounted to
65,639/., and the expenses to 28,3371., leaving a balance
of 27,252/. The net receipts of the canal and railway
amounted to 103,052/. for the half year, out of which
24,341/. is deducted for interest on locus, 29,2501. for
dividend on the canal capital, leaving- 49,461/., which is
equal to a dividend (less income tax) at the rate of 35
per cent. per annum, on the share capital of 2,126,372/,