The Sun.
London, England, 1865-01-21 00:00:00

RAILWAY INTELLIGENCE,

MANCHESTER, SHEFFIELD, AND LINCOLN.

The report of the directors of this company has just been
issued. It states that the accounts of the past half-year
show a total revenue from all sources of £490,836, a total
expenditure of £217,053, and a balance of net profit of
£273,783, which, with the balance of £1,249 brought from
the previous half year, gives a totol sum of £275,032 avail-
able for interest and dividend. The debenture and other
interest chargeable against the revenue of the half year
amounts to £65,348, the canal annuities to £14,142, the
dividends on the various classes of preference stock and
shares to £88,213, and the South Yorkshire interest and
dividends to £56,666, making a total charge against the
net balance of £224,371, leaving a balance of £50,661, out
of which the directors recommend a dividend at the rate of
2f per cent. per annum on the ordinary stock of the com-
pany, leaving £1,660 for next account. The dues, wharfage,
&c., of the Grimsby docks amounts to £5,740, against
£5,454 for the corresponding half of 1863, showing an in-
crease of £286. The company's share of the net profit of the
South Junction Railway amount to £8,969, as against
£8,957 in the corresponding period last year. The directors
regret that the traffic of the South Yorkshire Railway and
Navigation shows a very small increase as compared with
the corresponding period of last year. The lock-out, which
continued nearly half a year, is now completely at an end,
and the collieries are all in full work, and considering the
loss of revenue caused by the long interruption of business
the directors consider that the amount of traffic earned
under such difficulty may justify confidence in the deve-
lopment of the coal trade in that district. The accounts for
the present half-year includes the loss which has arisen
under the South Yorkshire lease for the whole year 1864,
in consequence of the consolidation of the accounts, and
working from the Ist of July. The directors, have in
conjunction with the Great Northern Company, made
an arrangement with the Midland Company, by which
that company are to take one-third interest in the lines
west of Manchester, including Garston and Liverpool
and Liverpool Central Station. The repayment of capital
involved will enable this company to accept one-third of
the capital of the Liverpool Central Station, Without adding
to the general capital account. It is right to mention that
a part of the arrangement with the Great Northern Com-
pany is that the contingent and reciprocal running powers,
I which, under the agreement of 1860, exist for the term of
that agreement, viz., 50 years, shall be exchanged in per-
. . .

petuity. In the year 1855 an agreement was entered into be-
tween this company, the London and North Western, Lan-
cashire and Yorkshire, and North Eastern Companies, in
reference to the interchange of traffic between the respec-

Ave system and in connection with the large traffic exist

ing between the Mersey and the manufacturing districts of
Lancashire with the Humber. This agreement terminated
at the end of last year, and negotiations were entered into
between the parties, which have resulted in the renewal of
what is termed the " Humber Agreement" for the term of
three years. The expenditure on capital account during
the half year amounts to £203,908, of which £87,066 is for
subscriptions to other companies, £67,399 for works and
stations, and £28,212 for rolling stock. The total capital
expended to the 31st Dec. last amounts to £10,631,180,
leaving]a balance of £48,156.

COLCHESTER AND STOUR VALLEY.
The report of the directors states that the balance avail-
able for dividend is £4,688. After providing for preferen-
tial charges to the amount of £857, a balance remains of
£3,831, out of which the directors recommend a dividend at
the rate of £3 6s. per cent. per annum, absorbing £3,773,
and leaving £5B to be carried to the next account. Since
the last half-yearly meeting a vacancy has arisen at the
Board. The directors do not consider it expedient that the
vacancy should be filled up, and they recommend that their
allowance should be reduced from £lOO to £5O per annum,
and the auditors' salary from £2l to £lO per annum. The
expenditure on capital account to the close of 1864 was
£286,222, and the receipts were £286,198, leaving a balance
of £24 due to the account.