The Sun.
London, England, 1855-07-27 00:00:00

RAILWAY INTELLIGENCE.

LONDON AND SOUTH-WESTERN.
The directors of this company have resolved to recom-
mend to the proprietors, at the general meeting on the 10th
August next, that the dividend for the half-year ending
30th June, 1855, be at the rate of V. 7s. 6d. per cent. per
annum on the capital.

BRIGHTON.
The half-yearly meeting of this company was held yes-
terday, at the Bridge-house-hotel, London-bridge—Mr.
L. Schuster in the chair.
The report, the material portions of which have appeared
in our columns, having been taken as read,
The CHAIRMAN proceeded to address the shareholders.
Ho said—ln addressing to you a few observations on the
state of the company's affairs, I hope for your indulgence,
and that a due allowance wi'l be made for the peculiar
position in which I present myself to you. (Cheers.) You
have been accustomed to be addressed by a gentleman so
highly qualified to report upon your affairs, and, at the
same time, so able to convey to you his remarks in a lucid
manner, that you must permit me to say that I cannot for
a moment presume to acquit myself of the duty I have to
perform in a manner at ali approaching to the admirable
half-yearly address that he made to you. (Hear, hear.)
But I can only say that I will, in the short statement I
have to make to you. do my best to acquaint you, as it is
my earnest desire to do, with the real position of this un-
dertaking. The lot which has fallen on my shoulders has
not devolved upon me, I must be allowed to say, in auspi-
cious times, because I have to commence my statement by
explaining to you that the revenue account exhibits for the
first time dining a considerable period, and I am sorry to
say it, a falling-off. We are, I believe, something like
8,278/. below in our receipts the take for the corresponding
period of last year. But while I mention this, I have the
satisfaction of telling you that this decrease of revenue is
not only capable of explanation, but that in fact it proves
the vitality of the concern in which we all are so deeply in-
terested. The falling-off of the revenue in reference to the re-
ceipts for the corresponding period of last year arises prin-
cipally from the diminution of the number of passengers to
the Crystal Palace, that is, before the works were completed,
because it is a known fact, before the Palace was opened,
not only a groat numlser of work-people employed upon
the construction of the works travelled over the line, but
that also a great many people connected with the buildings
in the course of erection in the neighbourhood—and they
were considerable—inalle use of our railway. I may here
mention that the traffic at several stations between Lon-
don and Croydon has, during the last half-year, shown a
considerable decrease, and I may instance those of Syden-
ham and Anerley stations, where the falling off has been
somewhat extraordinary. I find from returns in my
hands that the traffic between Forest-hill, Sydenham, and
Anerley stations was, for the half-year ending the 30th of
Juno, 1852, 7,4331. Now for the half-year ending the
30th of June, 1853, the receipts were 12,27431., while for the
half-year of 1854 they were 17,8621. For the last half-year
the receipts were 9,332/. ; but you must permit me to ob-
serve that for the half-year of 1852 the receipts were previ-
ous to the works at Sydenham—the receipts were 7,433/.,
so that the traffic at those stations had increased 2,0001.
(Hear.) I think you will consider this satisfactory, and
especially when you bear in mind that the source of traffio
has been decreased simply from the stoppage of works in the
neighbourhood, and the decrease of the number of persons
employed on the works of the Crystal Palace. The total
decrease in our revenue amounts to 8,5001. The decrease in
the goods traffic is 3,00)'. The greatest part of that de-
crease has reference to the material carried for the con-
struction of the Crystal Palace. (Hear.) The next, and
' not the least, subject for your consideration is our expen-
diture. You will find, notwithstanding that we have
run an increased number of miles for the accommodation
of the Crystal Palace traffic, that we have reduced our
expenditure by 6,0001. or 7,0801. This arises in a great
measure from the improved state of the road, of which
we have nearly 60 miles of fish-jointing. We have placed
to the debit of locomotive expenses 6,0001. for the half-
year for renewals, and this includes two engines not sub-
stituted for old ones. With respect to the capital ac-
count, we believe we see the time approaching when we
can take advantage of the 50,009!. ur 'ssued stock, so as
not to bring upon us a charge of more than 4 per cent.
We have no new schemes. I may say that I am net a
friend to the finality of capital, and I am qrita certain that
the measures we shall recommend to you will not involve
any expenditure on capital account that shall not be
absolutely necessary for increased accommodation, and,
consequently, produce increased receipts. With re-
spect to the Crystal Palace receipts, I may observe that
they were for the last half-year 19,0001. (Hear, hear, and
cheers.) And now I have to offer a few observations with
reference to the opening of the East Grinstead line. I be-
lieve that the traffic will be exceedingly remunerative to
this company; and if I required any fact to prove this to
you, it is shown in the amount of traffic we have had upon
it. (Hear.) You will scarcely believe the fact, that while
the price of coals was 40s. per ton at East Grinstead, they
could be purchased at the station six miles and a half from
it at 245. 6d., and I have no hesitation in saying that, pay-
ing as we do 2,0001. per annum for the traffic of the line,
we shall secure a very remunerative return. (Hear.) I
must confess that the traffic on the line has quite sur-
prised me. From the 9th of July to the 21st (the goods
traffic being from the 9th to the 19;1 only) produced 3021.,
and when it is borne in mind that the traffic of a line is
seldom developed under a period of four or five years, and.
that we have the power of purchasing the line, six miles
and a half in length, for 50,6001., I am sure you will
think with me that the Brighton Company will not be at,
all injured by its connection with the East Grinstead
Railway. (Hear, hear, hear.) We have mentioned to
you in our report that we have entered inte arrange-
ments for a communication with the Commercial Dock
Company, which will not entail upon us a single shilling
of expense ; and when I mention to you that they have
very large warehouses, and that they will no doubt have
sufferance wharves, you will, I think, agree with me that
we shall derive a considerable amount of traffic from that
source. We also expect, and very reasonably, an increase
of traffic from our connection with the Deptford dockyard,
through which we shall be enabled to transport from that
arsenal to Portsmouth, without any transference, all the
materials of war. I must now touch upon a point peculi-
arly interesting to all of you—that is the award given by
Mr. Seymour Clarke in reference to the unfortunate acci-
dent at Croydon. (Loud cries of " Hear, hear.") I listened
I to the evidence on both sides, and to the " summing up,"
and all I venture to say here is, that I was astonished be-
yond measure at the award that was given. The directors
have been advised that the amount awarded against them
should be paid out of the current receipts. He then
moved the adoption of the report.
The motion was seconded by Mr. CROWLEY.
Considerable discussion 'took place in reference to the
award of Mr. Seymour Clarke, but nothing at all requiring
any detailed notice transpired, and the report having been
unanimously adopted, a vote of thanks to the chairman
concluded the proceedings of the day.

THE NEW BEER ACT.