The Sun.
London, England, 1852-08-20 00:00:00

RAILWAY INTELLIGENCE,
GREAT NORTHERN.
The directors of this company have just issued the-re-
port to be submitted to the shareholders on Thursday
next. It states that the gross amount of revenue earned
during the half-year ended 30th Jane amounted to
290,6741., and the working expenses to 144,2401., leaving
disposable revenue to the amount of 146,4,34/. After
provision for fixed rents, other charges, and for dividend
on the preference portion of the capital, there remains a
balance of 72,905/. applicable to the payment of the in-
terest for the half-year on the mortgage debt, and to a
dividend on the original and the B stock. The amount
of the mortgage debt on the 30th of June was 2,580,9801.,
and of unproductive works about 1,700,000/. The half-
yeer's interest on the mortgage debt (payable the 15:h
of July) was 59,297/. Of this sum it is proposed to
charge or add to capital 35,578/. 145., and to charge
upon and deduct from the revenue of the remainder
of the mortgage interest, being 23,719/. Thus the
disposable balance of revenue, 79,905/., being charged
with 23,7191., becomes reduced to 49,186 L, and out of
this amount the directors recommend the payment of
dividend for the half-year ended 30th of June, at the
rate of 2 per cent. per annum on the original stock, and
at the rate of 4 per cent, per annum on the B stcck,
which will absorb 48,0821., and leave, to be carried to
the next account, the sum of 1,103/. The last portion
of the Great Northern main line from Warrington,
four miles north of Peterborough, by Grantham
and Newark to Retford, being 60 miles, was opened
for traffic on the 15th of July, making the distance
between London and York twenty-nine miles shorter
than any other route. By the opening of this portion
of the line the important town of Nottingham is
brought into the most direct communication with London
by means of the Ambergate Railway, which joins
the Great Northern at Grantham ; and the distance to
Sheffield, Barnsley, Wakefield, and Leeds, Sea, to which
places the Great Northern trains now run, is also
shortened by 20 miles. From the date of opening of this
portion of the main line the Great Northern Company
becomes entitled by agreement with other companies for
five years, from the Ist of January, 1851, to 63 instead
of 331-3
per cent. of the receipts from traffic between
London
and all places north of York. The Roystoa
and Hitchen Railway was in April last transferred to
and is now worked by the Eastern Counties Company,
the Great Northern being relieved from the guaranteed
rent. Under the pressure of a mandamus obtained by
persons locally interested, and for other reasons, the
° p
directors determined to proceed to purchase the land,
and to take the steps requiredbefore the expira-
tion, on the 2d of August instant, of the come
pangs powers to construct the Isle oZe f sxholme Rail-
way from the present termination of the
Great Northern line at Gainsborough, across the
Crow
le, and by Haxey, Epwortb,
and Thorne, to
the Askerne Junction, the northreurnieextremity of the
Great Northern, about four miles of Doncaster.lt is intended to construct only a north of
line, and the
length being about 26 miles, the capital authorised to be
raised is considered ample, being 00
and 100,0001. by loan. The directors, with by
muehre-
gret, shares
find it necessary to state that the land, the
lo
general works, and the buildings and plant, requireci
accommodate and carry on the traffic have, and will,
cost so much larger an amount than was estimated
in 1850, that they have no alternative but to ask the
proprietors to sanction application in the next session
of Parliament for power to raise further share
capital to the amount of 1,000,0001, and to autho-
rise them iu the meantime to take such measures
as may appear to them best adapted for provid-
ing the required additional capital on the most
favourable terms for the company, and in the
form best suited to meet the convenience of the proprie-
tors generally. The following is a schedule of the as-
certained liabilities of the company, viz,:—Land account,
167,3011.; works, stations, and permanent way mate-
rials, &c., 522,494/.; engines, carriage and waggon
stook, tools and implements for workshops, &c., 226,883/.;
interest account, part of half-year's mortgage interest
(payable on the 15th of July) of 59,2971, say 35,0001.;
total liability, 951,678/.; available assets, 245,4281.;
leaving, to be provided for, a deficiency of 706,250/.
The directors advise also that the intended application
to Parliament should embrace powers for consolidating
the mortgage debt into a debenture stock, in the expec-
tation that it may be disposed of at a comparatively low
fixed rate of interest, probably not exceeding 3} per
cent., and by which a considerable annual saving to the
company will be effected.
The station at King's-cross is approaching completion,
and arrangements have been made to open it for busi-
ness on the Ist of October next; and being convinced
that an hotel at the London terminus is indispensably
necessary for the accommodation of passengers, the di-
rectors have contracted for building one, under the cer-
tainty of its paying good interest on the outlay.
The capital account shows that 9,373,907/. had been
received to the 30th of June last, and 9,249,401/.
expended, leaving a balance of 124,5061. in
cash and South Yorkshire Railway Shares.
The length of railway maintained by the company
out of revenue is 241:k miles. The number of miles
run by the trains during the half-year is 1,789,168.
The consumption of coke per mile for passenger engines
is 20.91 b., and for goods. engines, 37•11 b.; the average
consumption, 29.31 b. of coke per mile. The working
charges are 49.62 per cent. of the gross earnings, and
show an average cost of 1.615. per mile per train. le
additioa to the 2411 miles of the Great Northern sys-
tem, the company's trains have worked over 150 miles
of the lines of other companies. The gross length of
railway worked ever in the early part of the year was
391 k miles, but on the 14th of February the Great
Northern ceased working over the 24 miles to Wisbeach,
and in April over the 18} miles of the Royston and
Hitchin, making a deduction of 42k miles, and leaving
the length over which the company worked on the 30th
of June 3491 miles.

EASTERN COUNTIES.
The report of the directors to be submitted to the
shareholders on Wednesday next states, that the receipts
upon the Eastern Counties Railway for the half-year
ending the 4th of July, 1852, are 334,1804 and the
Noi folk 56,9941.; total receipts, .comps Fro the
Eastern Counties receipts, for the sake of ison,
are to bo deducted 2,4781., being the amount received
from the working of the Shepreth and Hitchin line, re•
clueing the receipts to 388,696/, as compared with
366,921/. for the half-year ending the 4th of July, 1851,
and 421,973/. for the same term up to the 4th of Janu-
ary, 1852. The working expenses have been
208,358/. for the six months ending the 4th of
July, 1851; 186,535/. for the like period to the 4th
of January, 1852; end 177,645/. fore six months
up to the 4th of July, 1852, which tatter incl
the working expenses of the Shepreth and Hitchin
branch. These results are most gratifying, as the direc-
tors have continued to give increased accommodation to
the public, and by this means have laid the foundation
!or an increasing and remunerative return to the pro-
prietors. The increased receipts, as compared with the
half-year ending July 4, 1851, are 24,253/i
be., and th
712/
e re-
duced expenditure for the same periodbeing 30,,
gives a positive increase for the past six months over the
correspondicg half•year of 1851 of 54,9651., and, after
meeting all contingencies, leaves a net balance of
53,2321. on the last half-year's working, which, with
the sum carried forward to the
credit of re-
venue on the 4th of January, 1852, of 19,774/.,
leaves a nett disposable balance of 73,0061. Oat
of this sum the directors have declared a dividend
of 4s. per share, which amends to 68,2701., carrying
forward to the credit of revenue a balance of 4,736/.
It will be observed that thi, balance is left after
paying a sum cf 4,2001., being the amount due to the
Great Northern Company, according to the terms of the
lease entered into with that company for the use of the
lines from Shepreth to Hitchin for the three months
not
theb eieni
ending 30th of June, 1852, and also 2,5001.
to
thei New-
market Company. The directors regret that, owing to
the accounts of the East Anglian Company .
made up, they are unable to give the result of
months' working under the agreement with that com-
pany, and they therefore present the accounts debiting
n be rectified
that company with the expenditure madewibthtihse com-
pany for locomotive power, See. This
next half-year. The directors have adopted
sug-
gestions made by Mr. Ashcroft, the superintendent of
way and works, in charging
of
901 e expenses of perma-
nent way at the rate
by which this half-year 3,1781.,
th
Per mile per annum,
in excess of expenditure for being the amount
road during the past six m the maintenance of the
depreciation fund, which ' months, has been added to the
"fish -jointing" is now mainly applied to the
jointing" has hitherto fullyrails. This system of "fish'
fpeoarrt st,o as
fhgiving
r e i
iinag smoother
of the
diture in maintenanactoe.ck,Tahned
brobrande,onwtitMbrietsh owearrofe s
and
tear
aormt
loc •
omotive superintendent, provingp that a. deprecstior:
fund is not necessary for maintaining in andefreb'
uocfh
mrerdueed aspen
rate the working plant of the companY, Latbs
further reduction in this branch of expenditre
directorsm ii,T___e_
relied on, is also moat satisfactory. The tated as re-
paid the
ac-
quired to enable this company
paid during the half-year out of the sun! s capital
providing
count 8,589/. for additional z_
;1
,)8
traffic - 21.
increased accommodation
for 'Company for Par-
to the Midland Railway by. that com-
liamentary expensesf wu
this railway an the session
pang on account to works,at%
0 the ow awarded to Mr. John
of 1847; and 7,1024.1 balance of his engineering
il
Braithwaite, being rwetion of the line from London to
wants, with the sum of 32,600/
charges in the coo"'
Colchester. These PO_
, of. the East Anglian plant, as also the
"n the branch from Shelford to the junc
° Great Northern line at Shepreth, have in--
creased the bonded debt of the company 101,280/ The
yh aamf a
ea neds
time
tte
da nedo
sWf e s
of
directors obtained . . of the Legislature to form
el:
i xa:Pndeon
ofcinit
Cueer
c:aai ne d the
India Dock Junction Ream).
a junction with the ming
about 50,000 L, and also for the construction of o
short extension from Wisbeach to the river Nene, ata
an estimated cist of about 18,000/. Parliament like-
wise sanctionee, the arrangements with the Newmarket
Company; and the latter applied for and obtained
the authority of Parliament to construct
tension of th-Ar lino from Newmarket
and, as this line is now in course of con-
struction, the directors feel confident that when the
traffic from Bury is opened out to the Cambridge
the maximum amount of 5,000/. per annum
company is bound to pay to the route
under certain circumstances, will be materially ' et Company
if not entirely cancelled. The Bill for
arrangements made between this company
Anglian also received the sanction
The seal of the company has been affixed
agree-
ment entered into with the Great
The result is a cordial eo-operatio
in promoting an interchange of
re-
ceipts of this company are increased,
rest promoted. The directors reduced,
Newt:tal, which, this
carrying out the
of and the East
the Legislature.
to the
b Northern Company.
traffic,
etween the companies
whereby the .
and the public inte-
rest are informed that a large
portion of the land on the line of the Harwich itailwitY