The Sun.
London, England, 1864-02-23 00:00:00

RAILWAY INTELLIGENCE,

LONDON, CHATHAM, AND DOVE R.
The report of the directors states that the traffic during
the past half-year shows an increase of 33 per cent, over
that of the corresponding period of last year, and of 144 per
sent. over that of 1861, while the working expenses have
been reduced by 14 per cent, as compared with those of the
half-year ending Dec. 31, 1862, resulting in a favourable
balance of £55,825, which is applicable to the payment of
the following charges, namely : Denture interest £27,767
Western Extension rent-charge t;vo months), £6,195 ;
rent to Victoria Station Company, 57,500 ; rent of Mid-Kent
Crays Railway,
£1,191 ; proportion of interest on common
fund capital, £8,507; interest on Dover preference shares
(on account) £4,665 ; total, £55,825. This improvement in
the position of the company has been obtained notwith•
standing the disadvantages arising from the non-completion
of the passenger and goods station at Blackfriara. The im-
portant extension of the company's works from the London
end of the bridge now constructing across the 'I hames at
Blackfriara to the Metropolitan Railway is progressing with
great rapidity; and in order to supply for the cost of
these works the directors are applying to Parliament for
further capital, which it is proposed to raise upon the
security of the tolls to be taken over this portion of the line.
The Great Northern Company have agreed to assist the
company in providing the necessary fund by a loan of
£300,000 at 3i per cent. in perpetuity. The company are
under agreement to lay down two additional lines be-
tween Battersea and Brixton, and also between Brixton
and Herne-hill, for the use of the Brighton Company.
It is also necessary to construct another junction with
the Metropolitan Railway and one with their Finsbury
Extension, in order to enable the company to avail them-
selves of the proposed terminus at Finsbury-pavement. For
these purposes additional powers are necessary, for which
the directors are applying to Parliament. These lines will
require further capital, which, by arrangement with the
holders, will he raised pari passu with the A shares of the
Metropolitan Extensions. The directors are also applying
to Parliament for such powers as are necessary for carrying
out the arrangement with the South-Eastern Company in
relation to the Greenwich and Woolwich and Crystal Palace
lines. In order to provide additional rolling stock necessary
for working the Metropolitan Extension, the Ramsgate and
Margate, and other lines; for the purchase of additional
steamboats ; for the construction and purchase of the Farn-
borough Extension lines; for enlarging and improving the
stations ; for completion of the Dover station, and the
works at Dover harbour, and for other purposes, additicnal
capital will be required, which it is proposed to raise pari
passu with the ordinary stocks of the company. Arrange-
mento are in progress for commencing at once the addi-
tional lines at Victoria, and also the Greenwich line, for
which powers were obtained in the last session of Parlia-
ment. When the Western Extension was amalgamated with
the general undertaking, Messrs. Peto, Betts, and Crampton
agreed to pay any loss that may occur by the substitution
of a rent charge for the original working agreement during
the first two years, the directors being of opinion that after
that time the Western Extension would be self-supporting.
That guarantee expired in October last, and the amount due
under it has been paid, and the directors have good reason
to believe that the Western Extension will in future earn a
sufficient net receipt to cover the rent charge.
The capital accounts shows that £3,984,947 had been ex-
pended on the main line, and £1,556,883 t,n the Metropolitan
Extension, together £i,541,830. The revenue account shows
that £171,067 had been received during the half year ending
Dec. 31, including £34,616 earned by the steamboats, and
£115,242 expended, including £25,713 expenses of steam-
boats, leaving a balance of £56,825. The receipts of the
Metropolitan Extensions during the past half year amounted
to £30,928, and the expenses at 50 ter cent, to £15,464,
leaving a balance of £15,464 available for debenture interest.