The Sun.
London, England, 1865-02-13 00:00:00

NORTH-EASTERN.

The report of the directors of this company states that
the total traffic receipts on 1,095 miles of railway for the
half-year ending Dec. 31 last amounted to £1,682,756, and
for the corresponding half of 1863 on the same mileage to
£1,510,085, showing an increase of £172,671. The working
expenses amounted to £801,617, against £711,110, showing
an increase of £90,507. The net receipts for the past half-
year amounted to £881,139, and for the corresponding half
of 1863 to £798,975, showing an increase of £82,164. The
directors attributed the steady increase in the prosperity of
the company to the various amalgtunationswhich had from
time to time been authorised, and which had enabled them
more effectually to develope the resources of the district
served by the railways of the company. As the passenger
traffic had increased, the directors had greatly augmented
the number of trains and improved the train service, and
also effected a considerable diminution in the charges made
to the public by abolishing express fares, extending the
system of return and cheap tickets, and reducing the first-
class fares ; and the directors intended, in the course of the
next three years, to make such further reductions as would
bring the charges for passengers to a maximum of 2d. per
mile for first-class, per mile for second class, and ld.
per mile for third class, clear of Government duty. The
balance available for ordinary dividend on Berwick account
was £245,428, out of which it was proposed to declare a
dividend at the rate of 61 per cent. per annum, leaving
£4,944 ; on York account, £100,366 ; and a dividend at
the rate of 5f per cent. per annum, leaving £3,983 on the
Leeds account, £28,282, and a dividend at the rate of
£3 17s. 6d. per cent. per annum, leaving £1,265 ; on Thirsk
and Malton account £1,581, and a dividend at the rate of 4i
per cent. per annum, leaving £456 ; on Carlisle account
£51,558, and a dividend at the rate of 8 per cent. per an-
num, leaving £2,358; and on Darlington account £75,442,
and a dividend at the rate of 9 per cent. per annum, leaving
a balance of £3,561. All those dividends were on the ordi-
nary stocks. Negotiations between the directors and those

of the West Hartlepool Harbour and Railway Company
had resulted in a provisional arrangement for an amalga-
mation of the two companies. The terms of amalgamation
were that this company should, in addition to the preference
charges, pay on the unguaranteed stock (consolidated) di-
vidends at the rate of 31 per cent. for the year commencing
on the Ist of July, 1865, increasing. a quarter per cent. in
each succeeding year until the Ist of July, 1868, when the
holders of that stock would become entitled to a preferen-
tial dividend of 4 per cent. per annum, and the directors re-
commended that this arrangement be confirmed. The di-
rectors were about to let the construction of the Team
Valley line. With regard to the bill introduced into Par-,
liament for the formation of a new line from Leeds to Stock-
ton, with a branch to Scarborough, the directors considered
that this scheme was wholly uncalled for by any public ne-
cessity, and would give it their utmost determined opposi-
tion. The new line to Otley was opened for public traffic
on the Ist inst. The Market Weighton and Beverley
branch was nearly completed. The contractors had com-
menced operations on the Blaydon and Conside line, and
the branch to the Quayside at Newcastle. The capital ac-
count showed that £31,816,081 had been expended.