The Sun.
London, England, 1865-12-06 00:00:00

PRICE 4d.,
STAMPED 5d

Railway and Other Companies.

BOMBAY, BARODA, AND CENTRAL INDIA.

The report of the directors states that the total
receipts up to the 30th of June on stock, shares, and
debentures were £5,397,406, of which the sum of
£253,449 was received in the past half-year. The
total amount of audited expenditure in England and
India to the same date, including stores, materials,
&c., was £5,077,010. The expenditure brought to
account during the past half year amounted to
£533,251. In addition to this there had been a
further outlay in India to the same period of
£414,080, which was awaiting the audit of the
Bombay Government. Beyond the expenditure re-
quired to complete the more recently-opened por-
tion of the line from Bulsar to Bombay, including
the Grant-road temporary terminus and the work-
shops at Parell, further and considerable additions
had to be made for the accommodation of the traffic
at most
,of the stations on the northern division of
the railway between Bulsar Ahmedabad. The mea-
sures proposed by the company, and sanctioned by
the Government, for the strengthening of the larger
bridges had been, and were being, carried out
with all possible despatch, including the doUb-
ling of the superstructure for the second
line of rails. To meet the rapidly-increas-
ing demands of the traffic ten new and powerful
engines and 1,000 waggons were ordered some
months since, and further provision would, no doubt,
shortly have to be made. There were two most
material drawbacks especially affecting the goods
traffic—namely, the break in the Nerbudda-bridge,
and the delayed opening for goods south of Bulsar.
Making allowance for those and the necessarily in-
complete arrangements on the opening of a new
length of railway for passenger traffic the directors
thought that the results were encouraging. The
receipts from passengers, parcels, &c., had increased
from £45,683 in the June half year of 1864 to
£107,472 in the corresponding half year of 1865,
being an addition of £61,789. The receipts from
the same sources per railway mile had increased in
the same period from £246 to £351, being an addi-
tion of £lO5 over the whole line, although the mile-
age had been so recently and largely extended. The
gross receipts for the half year amounted, on 306
miles, to £133,044, against £79,248, on 1854 miles,
in the same period of 1864, showing an increase
of 1201 miles, and of £53,796 in the receipts, the
receipts per train mile being 14s. 6id., against 11s.
Id. in the corresponding period, showing an increase
of 3s. sfd. per train mile. The number of passen-
gers carried was 769,030, against 505,732 for the
corresponding half of last year. The several offices
of the company were now concentrated at Bombay,
near the Grant-road station. From July 10 last
considerably improved accommodation to the public
had been afforded by the running of an additional
through train each way daily over the whole line at
an increased speed, and stopping only at the princi-
pal stations. Other alterations were also made at
the same time to adapt the working of the railway
more fully to the requirements of the traffic. The
opening for goods traffic to Bombay (Grant-
road) would take place on the Ist of November,
when the revised scale of rates throughout the line
would come into operation. The Board looked
forward with interest to the result of this open-
ing upon the receipts of the railway, believing
that, as in the case of the other trunk lines in India,
the receipts from goods traffic would largely exceed
those derived from passengers and parcels. An ap-
plication had been made to the local Government in
connection with short extensions (with unguaranteed
capital) into the fruitful district of Kattiawar—viz.,
from Ahmedabad to Veerumgaum and Wudwaun,
73 miles in length. The estimated cost was mode-
rate, and so favourably had the project been re-
ceived upon the spot that a large subscription to-
wards it had been promised by the neighbouring
native chiefs, and a further large amount it was an-
ticipated would be subscribedin Bombay should the
proposal receive the favourable consideration of the
Government.

PENINSULAR AND ORIENTAL STEAM
NAVIGATION.

The 25th annual general meeting of this company
was held yesterday at the offices, Leadenhall-street
—Mr. A. Anderson, the chairman, presided.
Mr. Howell, the secretary, read the report, which
stated that the total assets of the company in ships,
in freehold and leasehold property in England and
abroad, in stores, cash at bankers, investments, and
debts due to the company, amounted to £3,706,987.
The total capital received from the proprietors
amounted to £2,200,000, and on debentures to
£642,500, and the liabilities of the company in bills
payable and otherwise to £405,836, making the
total capital and liabilities £3,248,336, showing a
surplus of £458,651. This surplus was represented
by the balance at the credit of the general reserve
fund. The gross revenue of the company from
all sources amounted for the 12 months ending the
30th of September last to £2,136,076 ; and the ex-
penditure, including reserves for insurance, wear
and tear, and depreciation for the same period, to
£1,976,999—leaving a net profit of £159,077.
From this wasdeducted the dividend of 3i per cent.
for the half-year ending the 31st of March last
(V 5,250), and the half-year's dividend of 31 per
cent. now recommended (£77,000), leaving a balance
of £6,827. The proprietors' underwriting ac-
count showed that the annual premium of 5 per
cent. on the estimated value of the floating property
of the company amounted to £llO,OOO ; from which
was deducted the value of the steamship Corea, lost
in the China Seas in June last (less depreciation),
£26,000 ; and damage to company's property at
Calcutta by the cyclone in October, as far as ascer-
tained, £17,075, leaving a balance of £66,925, out
of which it was proposed to pay to the proprietors
£66,000, being at the rate of 3 per cent., leaving
£925 to be carriedto the general reserve fund, which
would then amount to £458,651. In the last half-
yearly report the Mongolia and Tanjore stood under
the head of ships building ; both these vessels had
been since completed, and had made very satisfactory
voyages on the Southampton and Mediterranean
lines. The China and Nubia were still under repair,
the former in London and the latter in Bombay, but
those two vessels would very shortly be ready for
active service. The Ceylon was also undergoing a
complete refit and receiving new engines in London.
The Vectis and Valetta no longer appeared on the
list, having been purchased by the Egyptian Govern-
ment. Two new ships had been recently purchased
—the Niphon, of 694 tons and 140-horse power, and
the Geelong, of 1,500 tons and 250-horse power.
The former was destined for the Japan service, and
the latter for employment on the Australian or In-
dian and China lines, as might be required. The
total number of persons on board the Corea, sup-
posed to have foundered in a typhoon which visited
the neighbourhood of Hongkong during the night
of the 29th of June, was 103. There were only
three European passengers, and the European crew
consisted of 17 persons, the remainder being natives
and Chinese deck passengers. This unfortunate
casualty had involved far greater sacrifice of life
than had taken place during the 25 years the com-
pany had been at work. The directors findiAg that
the Mauritius line was being worked at a loss, not-
withstanding the increase of £6,000 per annum in
the subsidy, had exercised the right of giving 12
months' notice of their intention to terminate it.
The receipts for the conveyance of specie alone
for the 12 months ending the 30th September,
1865, as compared with those for each of the two
preceding years, exhibited a deficiency of about
£lOO,OOO. It was satisfactory, on the other
hand, to state that an increase had taken place in
the passenger traffic, although, in consequence of
the present high price of provisions and the opera-
tion of the reduced fares adopted by the company,
the balance of the profit and loss account had not
yet been advantageously affected by that increase.
The available balance, however, enabled the direc-