The Sun.
London, England, 1865-07-21 00:00:00

RAILWAY INTELLIGENOE.

MANCHESTER, SHEFFIELD, AND LINCOLNSHIRE.
The report of the directors of this company states that the
total receipts on revenue account for the half-year ending
the 30th of June amounted to £474,888, the total expendi-
ture to £220,097, and the balance of net profit on the
working to £254,791, which, with the balance of £1,660
brought from the preceding half-year, made a total of
£256,452 available for interest and dividends. The deben-
ture and other interest amounted for the half-year to
£70,553, the canal annuities to £14,142, the dividends on
the various classes of preference stocks and shares to
£90,913, and tho South Yorkshire Railway interest and
dividends to £59,182, making a total charge of £234,791
against the available sum, leaving a balance of £21,661,
out of which the directors recommend that a dividend
be paid at the rate of 1 per cont. per annum on the or-
dinary stock of the company, leaving £2,061 to be carried
forward to the credit of the current half-year. The direc-
tors regretted that this dividend was much less than that
paid at the corresponding period of last year ; but the ba-
lance brought forward from the then preceding half-year
was greater by £3,823 than that brought into the past half
year's account. The passenger traffic for the correspond-
ing half-year of 1864 had been exceptionally increased to
the amount of about £7,000, in consequence of the travel-
ling arising from the unfortunate calamity at Sheffield.
Tho fluctuations in the price of cotton in the earlier part of
the half-year had also a prejudicial effect upon the through
traffic, especially that for the Continent. The revenue of
the past half-year had also an additional charge on it for
interest and dividends of £15,783, in which was included
the interest on the cost of the construction of the Garston
and Liverpool Railway, opened in June last year. The
whole of the company's property had been efficiently main-
tained and renewed during the half-year. The expenses
of the past half-year on the joint undertaking exceeded
those of the corresponding half-year by £12,987. There
was an increase in the locomotive department of £6,207,
but a large part of the extra cost had been incurred in the
conveyance of South Staffordshire traffic, the expense of
which had been separately debited to the South Yorkshire
accounts in the corresponding half-year. There was also a
small increase in the permanent way department. The in-
crease under the head of compensation for accidents was
£1,293, and in the canal department of £2,488, arising
from the reconstruction of canal bridges and locks upon
the South Yorlizshire canals. There had been an increase
in the traffic of the South Yorkshire Railway in the half-
year, but in consequence of the consolidation of the ac-
counts the present half-year included some loss which in
the previous year was dealt with otherwise. Arrangements
had been made with the Great Northern and Midland Com-
panies for the interchange of coal traffic over the South
Yorkshire Railway at through rates. The arrangements
with the Midland Company, under which they became
jointly interested with this company and the Great North-
ern in the four Cheshire lines, and in the Garston and Liver-
pool Railway, had received Parliamentary sanction in the
past session. Powers had also been obtained to enable the
three companies to subscribe the capital for the Liverpool
Central Station. Convinced that needless damage was being
inflicted upon all railway property by the unsettled state of
the relations with the Great Eastern Railway Company. the
directors, on the rejection of the Lancashire and Yorkshire
and Great Eastern Junction Railway fill on second reading,
suggested the propriety of offering to the Great Eastern
Company a free outlet as far as possible over existing lines
for the traffic of the towns of Lancashire and Yorkshire.
Proposals had been recently agreed to between deputations
from the Boards of the Great Eastern, Great Northern,
and Sheffield Companies, subject to the settlement of
details and to formal sanction, by which it was hoped that
further contests in Parliament might be avoided. The
directors recommended the rapid construction of the new
and independent line, just sanctioned by Parliament, be-
tween Manchester and Liverpool, and towards which the
Great Northern and Midland Railway Companies had ex-
pressed their readiness to contribute each one-third of the
capital. The capital account showed that £10,798,411 had
bden expended to 30th of June, including £221,921 ex-
pended during the past half-year, leaving a balance of
£157,615 in favour of the company.