The Sun.
London, England, 1853-07-28 00:00:00

SAMBRE AND MEUSE.

The report oftiiedirectorsstates illat the traffic of
the company shows steady improvement from the com-
mencement to the present time, and particularly the
great stride it has taken within the last few months.
The receipts in 1849 amounted to 7,6301., in 1850 to
10,0181., in 1851 to 11,7311., and in 1852 to 14,726/.
The receipts for the half-year ending the 30th of June,
1852, amounted to 6,367/., while those for the same
period in the present year amounted to 11,0841., show-
ing an increase of 4,716/., or 74 per cent., on the gross
earnings of the line. The working expenses have in the
meantime somewhat increased. The profit on the half-
year's business is 4,6791., which, added to the balance
from last half-year, amounts to 8,3431., and after dig.
charging the interest on the debenture 10 per cent. •
loan, as well as the interest of so much of the new
capital as has been called up, leaves a sum of 7,2681.
to meet the interest on preference shares and bonds
yet to be issued to Mr. Brassey for works in the
course of execution. During the half-year a fur-
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and
falls due on the 15th of August next, for the payment
of which funds are already in hand. The works on the
line are now being prosecuted with much energy and
skill, leaving no reason to doubt that they will be com-
pleted by the time stipulated in Mr. Brassey's contract,
if not earlier. The branches are in a great state of for-
wardness, and would have been nearly ready for traffic
hal not great difficulty arisen in obtaining the neces-
sary land, and had the Minister of Public Works given
his decision as to the Florennes and Philippeville
branches as promptly as the directors had expected. The
balance of profit in hand has been stated above to be
7,2681., which might be applied to a dividend, but the
directors recommend that this amount be reserved until
they have to announce the completion of the entire un-
dertaking, believing it most for the interest of the com-
pany to show they have, until that event, ample means
for the payment of all preference charges, no lonly
from the earnings arising on the portion of the line now
open, but from a fund already provided in advance-
This course the directors deem the more advisable, as.
tending to strengthen the position of the compauXoand
enhance the #ecurity of Mr. Brassey, whose liberal con-
duct entitles him to every possible consideration.rectar states The
report of Mr. Sheward, the managing
place in th e
effect
that the improvement that has taken
and iron trades of Belgium has had a favourable
greater
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cTallcieulateexdp
causes. Wages have increased a third ; coke--a
enuspeson,
material item—from 14f. 50c. a ton (11s. 7d.) to 18f.
(14s. 5d.) The distance run has been 41,965 miles; the
goods carried, 88,778 tons ; and the consumption of
coke at the rate of 651 b. per mile, equal to 51d. per train
per mile. The working expenses are, altogether, at the
rate of 4321. per mile per annum. The report of the
engineer btates that the section from Silcnrieux to Cer-
fontaine might be opened on the Ist of N9vember next,
and the works on other portions of the main line are in
a forward state. The branch lines from Walcourt to
Florennes and from Mariembourg to Couvin may be
opened in December next. The construction account
shows that 814,5381. had been received, including
160,000/, guaranteed by the Belgian Government, and
715,795 e, expended, leaving a balance of 98,7431. The
traffic account shows that 11,0481. had been received
during the half-year ending the 30th of June last, and
6,4051. expended, leaving a profit on the working of
416781.