The Sun.
London, England, 1853-04-28 00:00:00

LONDON AND NORTH-WESTERN.

An important circular, from the directors of the
London and North Western Railway Company to their
constituents; was delivered yesterday. From this docu-
ment it appears that the North Western board has at
present bills before parliament for the construction of
1641 additional miles of railway ;and that their esti-
mated cost is 2,149,000/. The new lines, the' separate
lengths and estimates, are as follow : „* -
New Lines. Length. Esm o .
1. St. Albans to Amersham
and Chesham lB miles ... £152,000
2. Oxford, Thame, and Tring 31 „ 400,000
3. Northampton and Market
Harborough lB „ ... 250,000
4. Oldbury and Stourbridge 8 „ 300,000
5. Wellington and Coal-
brookclalo
_ _ _ _ _ _

6. Shrewsbury to Newton 44 „ ... 500,000
7. Crewe to Shrewsbury 33 „ 350,0C3
8. Oxfordshire Branch... 2 „ ... 37,003

164 k miles. £2,149,003
To meet this expenditure, the company has fresh stock
in other lines which at par cost it 3,292,6561., but the
actual market value of which is now 2,905,970/. ; and
this stock the directors recommend the proprietary to
retain, on the grounds of general policy as strengthening
their influence over those lines, and of the heavy loss its
sale would inflict. Secondly, the company has 91. a
share to call up on the Manchester and Birmingham 101.
shares, and 8/. a share on the London and Birmingham
201. shares. On these two description% of shares the
directors propose to mako calls at an early date.
Of the capital required for these 1641 miles of new
lineg here then is 1,000,000/. In addition the directors
seek for powers to create further ordinary share capital
to the extent of 3,054,6001. Thus then the paid up
capital of the North Western Railway has to be gradually
increased by, in round numbers, 4,000,0001. And as
borrowing powers to the extent of one-third the capital
will, as usual, follow its creation, the total sum the
North Western will, under this circular, be entitled to
raise, will be 5,000,0001.
The estimated cost of the new line is 2,149,0001.
This, however, is, it may fairly be presumed, irrespec-
tive of what will be needed to furnish their rolling stock.
That is usually an addition of one-third to the cost of
construction, say 700,0001. This brings the sum up to
2,849,000/. ; and as the bills promoted also contain
pr wers to make a deviation, to widen the old line in
some parts, and to enlarge some of the stations, it is the
additional cost of these works which, it may be sup-
posed, brings the sum total up to 3,054,600/., the amount
of ordinary share capital proposed to be created. But
the expenditure of this amount of Capital will still, we
see, leave the company power to raise other 2,000,000/. ;
for which, at present, they have no avowed objects of
expenditure.

THE SOUTH WALES RAILWAY E%TENSION. - Mr.
Brunel, the engineer of the line, has been inspecting
the proposed site of , the terminus at Neyland, on the
north side of the Haven at Milford. The works in that
direction from Haverfordwest are being prosecuted with
rapidity, and the owners of the required land have
referred their disputes to arbitration. It is, however,
expected that the excavators on the ground between
Haverfordwest and Neyland will be put on the main line
so as to ensure an early opening to the county town. This
large body, in addition to the heavy gang employed by
the Messrs. Conder, will enable the contractor to
make great progress ; and it is confidently anticipated
that an early opening this summer will be effected.
The works have been advanced with great rapidity
during the late dry weather. The Shoalshook and Frolic
cuttings are a scene of the utmost activity. In
Carmarthenshire, the permanent way is being laid
down, and the embankment to the river Towey, in the
Rhydygors vicinity, has been completed ; the rails in the
neighbourhood of St. Clear's will shortly be laid, and
along the Towey operations are going on. The labour-
ers are in full work at old prices, no advance having been
acceded to.