The Sun.
London, England, 1854-02-08 00:00:00

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RAILWAY INT-EL,4IOE2TTCE.':

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COR] AWBANIia.

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of the dirAtchs announces a
pri ;improvement vffe ner tge
charges
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expenses
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y _ safetya lkoeft, tthheepy uhb,aelivnttcheot...
ethiliecii:PnfenYvi4Oujranbaille l'sgtae:e'eonft
not pt. been able to make a contract for the construe-
, tion•of the extension railway to Bantry, with a branch
"td Clonakilty. Had the baronies consented to adopt
:the original suggestion of the board for a guarantee of
four per cent., there could be no • doubt that by this
dine considerable progress` would have been mace;
under present circumstances, the directors have no
other alternative than to wait until existing difficul-
• ,
tieS shall have passed away, when no effort will be
f •
• spared on their part to complete a line so important
to the districts over which it is to be carried, and to the
interests of the company. The directors have made
application for a bill to authorise the construction of a
branch railway to the Own of Skibbereen. Arrange-
ments are contemplated for establishing Crookhaven as
a Transatlantic station for telegraphic messages between
the Old and New Worlds, the Cork and Bandon Rail-
way
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this position is fully known and appreciated as a shorter
and more advantageous route between Great Britain and
America than any other, passengers, mails, and light
merchandise will eventually be conveyed to and from
this favoured point. The engineer states, in his report,
that the recent reduction in the number of daily trains
has tended to reduce the working expenses, and that the
whole of the working stock is in good order. The capital
account to December 31 last shows that 311,1851. had
been received, and 310,410/. expended, leaving a balance
of 7751. The revenue account for the half-year ending
the 31st of December showed that 5,486/. had been re-
ceived, and 4,064/. expended, leaving a profit of 1,4221.
To this sum is added 451/ ' the- balance from the last
account; and from the total 1,6041. is deducted for in-
terest on loans and preference shares, leaving a balance
of 2691. The directors propose to raise 100,0001. of addi-
tional capital to lay down a second line of rails, and to
provide additional stock for carrying the increased traffic
expected from the proposed extension line to Bantry
and Clonakilty, 40 miles in length. They propose to
guarantee 6 per cent. per annum on the 100,0001. for 10
years, and 4 per cent. per annum in perpetuity after-
wards. An estimate is given with a view to show that
the traffic on the railway in 1855 will amount to 15,6921.,
and the expenses to 13,2261., leaving 2,4651. available
for dividend at the rate of 6 per cent. per annum upon
' 40,000/, of the proposed guaranteed share-capital, only
20,0001. of which, it is expected, will be called up within
this and the next year.