The Sun.
London, England, 1853-09-12 00:00:00

SCOTTISH CENTRAL.

The report of the directors of this company to be sub-
mitted to the shareholders states that the expenditure
of 10,722/. on capital account has been incurred chiefly
in liquidation of outstanding lancrclaims and for plant
which was sanctioned at previous meetings. The bill
for converting the debenture and mortgage debt into
stock obtained the Royal assent on the 14th of June
last. The loans falling due at Martinmas, on most
of which 5 per cent. is payable, have been either re-
newed or replaced at 31 per cent. An agreement
has been made with the Electric Telegraph Company
for extending their communication to Perth, so as to
put this line in connexion with their system in Great
Britain. The Telegraph Company are to furnish the
requisite apparatus, and also to provide clerks to work
the telegraph at Perth, Stirling, and Greenhill Junction,
for an annual payment of 41. per mile per annum. The
receipts during the past half-year ending the 31st of July,
as compared with the corresponding period of last year,
show an increase in respect of passengers and mails of
matters 1, 585/
. , in
of
ir respect
ectof
snakingthe
goods to
total2,l increase6ol. , and
3,7
miscellaneous64l
The
working expenses exhibit an excess over the correspond-
ing period of 1852 of 8061. The receipts for the half-
year ending the 31st of January, 1852, amounted to
47,3321., an the expenses to 21,4131. ; ending the 31st
of July, 1852, to 47,6681., and the expenses to 21,3131. ;
ending the 31st of January, 1853, to 54,5111., and the
expenses to 20,659/. ; and for the half-year ending 31st
of July, 1853, the receipts amounted to 51,432/., and
the expenses to 22,7101. ; the percentage of expenses on
receipts being respectively 45, 44, 38, and 44 per cent.
The balance from the last account amounted to 10,1681.,
and the balance of net revenue, after deducting working
expenses and preference shares amounted to 17,3631.,
making a total of 25,5311. Out of this sum the directors
recommend that a dividend at the rate of 4 per cent.
(20, 4001.) on the consolidated stockbe declared payable on
the 26th inst., leaving 7,1311. for the next account. The in-
terest on the preference stock amounts to 4s. 11d. per share.
The receipts for the year ending the 31st of July
amounted, exclusive of the Tay ferries, to 105,9441., and
the expenses and preference charges to 66,8841., leaving
39,0601. The dividend declared in January last amounted
to 20,4001., the dividend now recommended amounts to
20,400/., together 40,8001., and showing that, in order
to pay a dividend at the rate of 4 per cent. per annum,
1,7401. is required to be taken from the reserve fund.
Seeing the prospects of an increase of traffic, the direc-
tors feel they would not be doing justice to the property
were they to recommend a less rate of dividend. The
capital account shows that 1,656,8311. had been received,
and 1,678,6271. expended, leaving a balance of 21,7961.
against the company. The loan account shows that
417,3221. had been borrowed, of which 32,5001. was
borrowed at 5 per cent., 3,8301. at 41 per cent., 221,2221.
at 4 per cent., 10,0001. at 31 per cent., and 149,770/. at
34 per cent. The locomotive expenses of engines and
carriages for passenger trains amounted to 10'61d. per
mile per train, and for goods trains to 9'o7d. The con-
sumption of coke for passenger trains averaged 141 b.
140 z., and for goods trains 22,k1b., the average being
181 b. lloz. per mile per train. The number of carriages
in the passenger trains was 6.1, and of waggons in goods
)
trains 18.9. The revenue account showed that 51,9551.
had been received during the half year, and 22,7101. ex-
pended, leaving a balance of 29,245/. ; out of which
11,0591. is deducted for interest on bonds, 300/. for Par-
liamentary expenses, and 5231. out of debt on Tay
ferries, leaving a balance of 17,403/.