The Sun.
London, England, 1865-01-28 00:00:00

LONDON, BRIGHTON, AND SOUTH COAST.

The report of the directors states that the amount of
capital raised to Dec. 311ast was £12,314,528, consisting of
£4,967,260 ordinary stock and shares, £4,311,202 preferen-
tial stock, £1,750,510 mortgage debt, and £1,285,556 de-
benture stock. The amount of capital expended during the
hall-year had been £793,472. The gross revenue for the
half-year ending Dec. 31 last had been £582,629, showing
an increase of £45,469 over the corresponding half of 1863,
and making the gross revenue for 1864, £1,048,930, or
£48,955 in excess of that of the year 1863, and £23,507 over
that of the Exhibition year of 1862. The traffic of the first
three weeks of 1865, notwithstanding the unfavourable state
of the weather, showed an increase of £7,445 over that for
the same period of 1864. The total working expenses and
renewals amounted to £292,498, or 51 per cent., against
£273,209, or 52 per cent., for the corresponding half of 1863,
showing an increase of £19,289. The cost per train mile
was 2s. 11d., against 2s. 1114. in 1863. The increase in the
working expenses arose from the increased mileage, and
from the necessity of providing the proper staff for new
stations,and maintaining the line and plant in a state of cQm-
plete efficiency. The revenue of the half-year was debited
with the usual £7,000 in respect of the permanent way im-
provement account, and it had had also to bear an additional
charge for interest on capital expended on the Bognor and
tho Seaford linen. The Works Qll the South London line,

the London-bridge enlargement, and the widening of the
Greenwich viaduct were progressing satisfactorily, and the
whole would be completed before the end of the present year.
The directors remained of opinion that a considerable addi-
tion to the revenue would be derived on the completion of
this important metropolitan communication. The contracts
had been let for the line from Peckham through Streatham'
and Mitcham and Sutton, and for the improved approach to
the Victoria station. The works on the Leatherhead and
Dorking line, as well as on that from Dorking to Horsham,
forming the second through line to Brighton, were also pro-
ceedingrapidly. The South Croydon line and the Newtown
Station at Croydon would be ready for traffic during the
present half-year. The arrangements for the land for the
Kemp-town line and station were very forward ; the work-
ing plans were completed, and the contract would be shortly
let. At the special meeting of the 19th December last the
amalgamation of the following undertakings with this com-
pany was concluded—namely, the Brighton, Uckfield, and
Tunbridge-wells, the East Grinstead, Groombridge, and
Tunbridge-wells, the Banstead and Epsom Downs, and the
Horsham and Guildford. The works on all these lines were
progressing rapidly ; the two first will be ready for traffic
before the end of the year, the other two within a few
months. The only line promoted by the company in the
present Session was that from Hailsham to St. Leonard's,
in substitution for the branch rejected last year. Powers
are also sought for some deviations and improvements of
lines which had been previously authorised. The net
amount at the credit of the revenue account was £154,993,
out of which the directors recommended the payment of a
dividend of 3 per cent. for the half -year, payable on the 13th
of February, amounting to £849,017, leaving a balance to
the credit of the current hall-year of £5,976, and making
the dividend for the year 1864 amount to 51 per cent.