The Sun.
London, England, 1862-02-13 00:00:00

LONDON AND BLACKWALL.

The directors of this company propose that the dividend
for the half-year ending on the 31st of December last should
be at the rate of 3 per cent. per annum

MIDLAND,

The report of the directors of this company states that
hot-Withstanding the continued depression in trade, the
traffic of the railway has eiperieneed it small increase of
£1,794 during the past half-year. The receipts for coach-
ing amount to £405,221, showing an increase of £7,045;
for minerals to £250,711, showing a decrease of £271; for
merchandise to £426,834, showing a decrease of £5,678 ;
for cattle to £17,382, showing an increase of £698. The
available balance for dividend is £433,473, including
£1,085 from the previous half-year. The directors
recommend the declaration of the following divi-
dends (less income-tax), payable on the Ist of March, being
at the same rates as those declared at the corresponding
period of last year—viz., £3 10s. per cent. on the conso-
lidated stock, £2 16s. 3d. per cent. on the consolidated Bir-
mingham and Derby stock, £3 10s. per cent. on the conso-
lidated preferential stock, £3 10s. per cent. on the Erewash
Valley stock, and the usual dividends on the preference
stocks, leaving a balance of £7,288. The completion of the
portion of the Rowsley and Buxton line from Rowsley to
Bakewell may be expected about the Ist of July next. It
is expected that the Erewash Valley Extension to Clya-
cross will be ready for passenger traffic in a few weeks.
The directors have taken the necessary steps for obtaining
in the present Session of Parliament an Act to enable the
company to construct a railway to connect the Rowsley
and Buxton with the Marple, New Mills, and Hayfield
Junction Railway at or near New Mills. An arrangement
has been concluded with the Manchester, Sheffield, and
Lincolnshire Railway Company by which the Midland
Railway Company is to have the power of running its own
trains between New Mills and Manchester (a distance of
about 15 miles) with accommodation there, and such access
for its traffic to other places in Lancashire and Cheshire
as the Sheffield Company can give ; the conside-
ration for these privileges being that the Sheffield
Company shall have poser to run its own trains to and
from Buxton to Rowsley, and an obligation upon the Mid-
land Company to send all the traffic south of Chesterfield
under its control via New Mills and the Sheffield Company's
lines when the Rowsley and Button Extension Railway
shall be completed, and by way of Brighton until that time
shall have arrived. The directors believe that this agree-
ment is a fair one, and that it will be mutually beneficial.
The cost of the Rowsley and Buxton Extension Railway to
New Mills is £360,000. It is proposed to ask the proprie-
tors to authorise the expenditure on capital •account of
' £lOO,OOO for additional works. The capital account shows
that £21,794,079 had been received to the 31st of December
last, and £21,789,288 expended, leaving a balance of
£4,791. The revenue account for the half-year ending the
31st Dec. last shows that £1,120,666 had been received and
£477,421 expended, leaving a balance of £643,245, out of
which is deducted £191,429 for interest on loans and gua-
ranteed stocks, £939 for Buxton and Matlock deficiency,
£18,674 for rent of North-Western Railway, £215 for rent
of Dursley branch, and £5OO for redemption of mortgages,
' leaving a disposable sum of £433,473.