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 net 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 thewphrooleviosfionthaeliragrarieelwmaeyndt 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
been entered into for the disposal of the Chilton Colliery,
and Nnow only awaits confirmation by the Court of Chan-
cery on behalt 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-mina, 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 4i per cent. The Clarence 6 per
cent. shares, amounting to £101,480, have been all paid off.
The capital account shows that £4,094,225 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,