The Sun.
London, England, 1865-05-02 00:00:00

MADRAS.

The report of the directors states that during the past
half-year the length of railway open for traffic was in-
creased 123 miles, by the completion of tho Bangalore
branch of the south-west line, and of the north-west line
to Reddipully. The entire length of the former was now
492 miles, of the latter 79 miles, making a total of 571
miles of railway completed and opened. The mileage
worked over averaged 538 miles for the half-year, as compared
with 448 in the two preceding half-years. The number of
passengers had risen from 662,948 in the corresponding
half of the previous year to 776,826 in the past half-year ;
and the tonnage of goods carried from 123,527 tons to
137,088 tons. The traffic receipts for the six months
amounted to £169,565 against£l27,7os, and the net receipts
to £83,688 against £46,308 for the same half of the year
preceding. While, therefore, the average mileage open was
greater by 20 per cent., the receipts were greater by nearly
33 per cent. gross, and 81 per cent. net. The permanent
way and rolling stock had been well maintained, and the
passengers had, as heretofore, enjoyed entire immunity
from injury upom the company's lines. The shipment of
materials, plant, and stores during the year 1864 amounted
to 36,073 tons in 72 ships. The further opening of
the north-west line to Cuddapa and the survey to the
point of junction with the railway from Bombay was
proceeding. Measures would be taken to secure the simul-
taneous completion of the line with that of the Great Indian
Peninsula Railway to Raichoor. On the south-west line
the Bangalore branch, 85 miles in length, and attaining a
height on the Mysore table land of 3,000 feet, was opened
for public traffic on the let of August last, and had been
regularly worked ever since. The receipts for passengers
during the half-year ending the 31st of December amounted
to £57,647, against £44,030 for the same half of 1863. The
increase in the number of passengers was 151 per cent.
and in the receipts of 31 per cont. The goods traffic, ex-
clusive of railway materials, exhibited an increase of 9,025
tons in weight, and £26,387 in receipts, :which was
nearly 50 per cent. above those of the. corresponding
period. The receipts well() £79,522, against £53,135.
The entire receipts for the half-year were £157,343 against
£121,089 for the corresponding half of 1863, showing an
increase of £36,254. The working expenses amounted
to £80,624, or 5F24 per cent., against £78,017, or 64.43
per cent. ; and the net receipts to £76,719, 'or 48.76
per cent., against £43,017, or 35.57 per cent. The
receipts per train mile amounted to ss. 71d., against
6s. 3-141., and the expenses to 2s. 101 d., against 4s. Op. for
the corresponding half of 1863. The receipts for car-
riage of railway materials, which formed 11 per cent. of the
gross receipts in 1863, formed only 41 per cent. in the past
half-year. At the same time, the whole of the main line
had for the first time been maintained during the half-year
out of revenue. On the north-west line the extension to
Reddipully was opened on the Ist of October, making 79
miles open from the Arconum junction. In the course of
next month the further opening of the line to Cud-
dapa, 41 miles, was expected to take place, and to
be followed about the end of this year by another exten-
sion. The total traffic receipts on the north-west line
for the past half-year amounted to £12,221, against £6,616,
showing an increase of £5,605. The working expenses
amounted to. £6,969, or 42.98 per cent., against £3,237, or
51.07 per cent. The receipts per train mile amounted to
ss. 814., against 4s. 81d. in the corresponding half of 1863 ;
the expenses amounted to 2s. 51d. per train mile against 2s.
41d. in the same half of 1863. The main south-west line
and its Bangalore branch were now estimated to cost, in-
cluding adequate rolling stock for probable traffic during
the next two or three years, a sum not exceeding £ll,OOO a
mile. Upon this probable cost the net profits of the last
year were equal to a return of 3 per cent, per annum. The
voluntary payments by shareholders in anticipation of calls
having fully sufficed for the expenditure of the company,
no call was at present contemplated on the shares of the
fifth extension capital. The total amount expended on
capital account was £7,466,063.