The Sun.
London, England, 1864-02-18 00:00:00

WEST HARTLEPOOL.

The directors of this company state in their report that
the revenue of the concern continues to advance satisfac-
torily. The total receipts for the past half year ending the
31st of December, show an increase of £9,879 over those
of the corresponding half of 1862. The total receipts for
the year 1863 amounted to £235,293, the gross expenditure
to £119,005, and the not revenue to £116,288. The gross
receipts for the year 1861 amounted to £216,662, the gross
expenditure to £151,142, and the net revenue to £65,520,
showing an increase in the gross receipts in two years of
£18,631, a decrease in the expenses of £32,137, and an in-
crease of £50,768 In the net revenue. The clear balance on
the half year available for dividend, after providing for in-
terest on all the primary charges, special debts, and deben-
ture loans, is £37,596, out of which the proprietors of class
A stock are entitled in the first place to receive a dividend
at the rate of 3 per cent. per annum. This will absorb
£37,480, and the remaining £ll6 is too small to be distri-
buted between the holders of class B stock and the ordinary
shareholders, but it will be carried forward to the eredit of
these stocks in the company's accounts. The directors pro-
pose to pay the dividend on the class A stock on March 15.
A considerable improvement took place in the coal trade
about the middle of the half-year, and the company's col-
lieries have not only paid the whole of their railway dues,
but have left a balance of £1,471 to their credit, in the
hands of the trustees, which must be applied in part liqui-
dation of colliery old debts. A provisional agreement has
been entered into for the disposal of the Chilton Colliery,
and itinow only awaits confirmation by the Court of Chan-
cery on behalf of the purchasers. Two other collieries--
namely, Page Bank and Spennymoor, are to be sold at New
castle on March 15. One of the results of the development
of trade at West Hartlepool has been a demand for sites for
new works, and the board have sold 10 acres of the com-
pany's land for the erection of rolling-mills, and one acre
for a foundry, and have leased a portion of ground in the
harbour for a new iron shipbuilding yard, and they have
found it necessary to construct a patent slipway for the ac-
commodation of ships frequenting the port. A demand has
likewise sprung up for house property and building sites,
and the board have, in consequence, been able to effect ad-
vantageous sales of other portions of the company's pro-
perty. To meet the large increase in the timber trade the
directors have commenced the enlargement and improve-
ment of the timber dock and ponds at an estimated cost of
£15,000. It has also been found necessary to add to the
stock of merchandise waggons to meet the largely increased
traffic in that department. The whole of the new deben-
tures have been issued at 41 per cent. The Clarence 6 per
cent, shares, amounting to £101,4i30, have been all paid off,
The capital account shows that £1,094,225 had been ex-
pended, leaving a balance of £46,755. The revenue account
for the half year ending the 31st December last showed that
£126,036 had been received and £63,507 expended, leaving
a balance of £62,529.