The Sun.
London, England, 1862-07-24 00:00:00

IZAILTVAY.INTELLIGENCE.

LONDON, BRIGHTON, AND SOUTH COAST.
The report and accounts of the directors have just
been issued. The accounts for the half-year
ending the 30th of June show the following
results :—The amount of capital raised to June
30, 1862, is £10,341,418, consisting of ordinary
stock, £4,620,000; preferential, stock and shares,
£3,329,418 ; mortgage debt, £1,598,275 ; deben-
ture stock, £793,725. Total, £10,341,418. The
amount of capital expended during the half-year is
£208,620. The reduction in the rate of interest on
the mortgage debt still goes on, and the amount of
debenture stock issued has reached £793,725. The
loans falling due at 42.21. and 5 per cent< have been
renewed at 4 per cent., and the a-.-erage, including
debenture stock has been further reduced to £4ls 9d
per cent. The gross revenue for the half-year has
been £444,861, showing an increase of £23,482 over
that of the corresponding half-year of 1861. Of
this £12,006 arises in the passenger traffic, and
the remainder from goods, tolls, rents, &C. When
the continuous bad weather and the general
stagnation of trade are borne in mind, the state
of the revenue (says the report) will be con-
sidered satisfactory, particularly as the traffic
of the Victoria Station and of the lines recently
opened is far from being fully developed. The in-
crease in the ordinary expenditure arises chiefly
from heavy repairs to the carriage and waggon
stock. The traffic during the early part of the
year admits the placing of the entire plant in the
most perfect order, so as to meet the increased
demands during the summer for the ordinary
traffic, as well as for that in connection with the
International Exhibition. A further sum 0f£6,000
has been charged in respect of compensations aris-
ing from the accident of last August ; and a some-
what similar sum may be expected to the debit of
the current half-year, which will, it may be hoped,
close that account. A further increase appears in
the charge for dividends on preference capital,
arising from the fact that interest in respect of the
whole of the completed lines and works has now
become a debit charge against revenue. The per-
manent way improvement account has been credited
with the usual £3,000, and the relaying and fish-
jointing of portions of the coast lines and branches
has been further proceeded with. The contractor
for the Croydon and Balham line has not shown
the energy which had been anticipated. At last,
however, the works reached the state which
enabled the usual notice to be given to the Board
of Trade, and the opening may be expected with-
out further delay, when great facilities for both the
through and the local traffic will be obtained. The
completion of the West London Extension line has
also been delayed; it is, however, nearly finished,
and will be opened as soon as certain arrangements I
now pending between the companies interested
shall have been concluded. The enlargement of
the Brighton terminus is completed. The works
on the Pulborough and Ford line and the Little-
hampton branch are proceeding rapidly. The
latter will, it is hoped, be ready for the traffic
of the approaching autumn. The bill for the en-
largement of the London-bridge Terminus has
received the Royal assent. By another bill
promoted by the company, and which has also
received the Royal assent, powers are obtained
for the construction of a line from New Cross
to
the Barrington-road, Brixton, whore
ao
it forms
junction with the line of the London, Chatham, and
w
Dover Railway Company, which runs from thence
to this company's line at Stewart's-lane, a short
distance from the Victoria station. The bill con-
tains clauses granting to this company. running
powers over the above-named portion of the
Chatham Company's line,
in exchange for similar
powers granted to that company from the Barring-
ton-road to Deptford-wharf and providing for the
laying down of four lines Of rails throughout the
whole distance over which such running powers
have been granted to the respective companies.
Thus means have been provided for carrying on the
traffic of the two companies without interference or
delay, while at the same times he more important
South London line
objects are attained of forming
from London-bridge to Victoria, and (in connection
with the West London Extension and the North
London lines) completing the railway circle round
the metropolis. The bill also contains powers for
the construction of the short branch line from New-
haven to Seaford, sanctioned by the proprietors in
January last. A special meeting has been convened,
to be held immediately after the termination of the
dinar on the 29th inst., to authorise the
°ry meeting
creation of the capital necessary for these lines and
works, and for the completion of the other works in
progress, including the contribution to the West