The Sun.
London, England, 1862-05-01 00:00:00

RAILWAY IN7ELLIGENCE.

GREAT WESTERN OF CANADA.

The report of the directers of this company states
that the receipts on capital account during the past
half-year amount to £5,203, making the total re-
ceipts on the 31st of January last £5,218,300. The
expenditure now amounts to £5,019,663. This in-
cludes the extra cost of renewing wfooden bridges
with stone and iron, and the expenditure incurred •
in fishjointing 81 miles of rails renewed during the
half-year. There are still 901 miles of main line tt.:`
fisbjoint, and the expense of this will be charged to
capital. It also includes a sum of £14,618 as loss
on value of rails in stock. The sum of £8,219 ad-
vanced to the Port Huron and Milwaukie Railway
in 1858 has been now charged to capital. The
balance at the credit of capital account is £198,638.
During the last two years five additional loco-
motive engines with their tenders have been built
at the company's workshops, and paid for out of the.
revenuo,as well as the cost of fishjointing 961 miles
of road, amounting in all to £11,762. The revenue
account for the half-year ending the 31st of January
last shows that the gross receipts amounted to
£265,952 and the working expenses, including
maintenance, taxes, insurance, and rent of suspen-
sion-bridge, £125,425, leaving a balance of
£140,527. From this is deducted £17,498, interest
on Government loan,X37,72s,intcrest on company's
bonds, £27,443 for renewals of rails, sleepers,
bridges, &e., £BB3 on Flamborough accident ac-
count, and £3,700 balance of bad debt account,
having the balance from the half-year's working
of £53,277, out of which the directors recommend
the payment of a dividend at the rate of 3 per cent.
per annum,leaving £3,l3s,which, added to £18,373,
the surplus from the preceding half• year, amounts
to £21,058. From this balance the directors have
written off £7,453, being one-third of the arrears of
interest hitherto standing in the balance-sheetagainst
the Detroit and Milwaukie Company, leaving
£14,054 to be carried fcrward. The working expenses
of the last half-year are at the rate of 47.16 per cent.,
and for the whole year 54.50 per cent. The receipts
of the Detroit and Milwaukie line have very satis-
factorily increased during the winter, and the traffic
brought upon the Great Western Railway by that
line is estimated to amount during the past half
year to £25,508 as against £23,676 for tho corre-
sponding period of the preceding year. The result
of the working of the Detroit and Milwaukie Rail-
way during the year 1861 was that, within £2,500,
it earned sufficient to have provided (but for debts
ordered by the Court to be paid) for the payment of
interest upon the whole of the bonded debt of that
company. An agreement was entered into with the
directors of the Grand Trunk of Canada Company
on the 31st of Jan. for securing the advantages of
economy and unity of interest to both concerns,
by placing the whole under ona management with
a fusion of all receipts. It has been proposed by
Messrs. Brvdges, Watkin, and Carter that the terms
upon which the Buffalo and Lake Huron Company
may join the Grand Trunk and Great Western be
decided by the chairmen of the London Boards of
those three companies.