The Sun.
London, England, 1849-01-23 00:00:00

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GENERA-L STATtMENT of the POSITION
and PROSPECTS of the SOUTH-EASTERN RAILWAY
CONIPAN Y.
The Directors proceed, after mature consideration, to present to
the proprietors of the South-Eastern Railway a General Statement
of ,the position and prospects of the Company. The directors need
hardly point out that, in the course of the statement, it will be re-
qnisite for them to base upon estimates the conclusions at which they
arrive as to the amount that is yet required to be expended on ca-
pital account, whilst the return of revenue, which that outlay, com-
bined with the capital already expended, will produce, may, after
the views of the directors have been stated, be calculated by each
proprietor himself.
And although the directors have delayed the publication of the
statement, to ensure the gr eatest pozsible accuracy, and have availed
themselves of theilexperience of estimates of the cost of works, they
still feel that, not any criticism, but the future alone, can test the
correctness of their views.
It will be the study of the directors, interested as they are, and re-
sponsible as they have been for the policy adopted in the management
of the cempay's affairs in times of extraordinary difficulty and emer-
gency, to treat the whole subject with impartiality.
. Under their management it has been the good fortune of the com-
pany to escape the evil effects of competition, imprudent amalgama-
tions, and a reduction of tolls which would have made the attain-
ment of prosperity barely practicable.
For this the company is indebted, not alone to that justice which
Parliament has, at each sncce3sive costly contest, awarded It, or to
a series of happy accidents in the rejection and suspension of the
Bills it had promoted, but also to the perseverance with which ag-
gression on the company's just rights has been resisted by the pro-
prietors.
These rights were recognised in the preamble of the first Act of the
Legislature incorporating the eompany, passed on the 21st of June,
1836, wherein it was stated that "this railway would be productive
of great public advantage, by opening a certain and exped.tious com-
munication to Dover and other towns and districts on the south-
east coast, and also of facilitating the communication between Lon-
don and the Continent of Europe ;" and it is matter for deep regret
that, to preserve the rights thus recognised as attaching to the
owners of the capital embarked in an adventure admitted to be of
great public advantage, so enormous an expenditure in Parlia-
mentary contests should have been necessary ; although at the same
time it must be acknowledged, taking every surrounding circum-
stance into consideration, that in the end these contests, of which
the directors believe there is no likelihood of a repetition, have been
attended with a not unfavourable result.
The directors are satisfied that, with reasonable skill and eco-
nomy in the management of the Company's affairs, there is every
ground for belief, that on the completion of the South-Eastern lines
of Railway in progress of construction, and hfair development of
their traffic, of the Continental traffic, and of that of the linos al-
ready in use, the company will possess sources of revenue adequate
to secure to the proprietors, permanently, a satisfactory dividend.
The length of the lines of railway and branches now used for
traffic by the South-Eastern Railway Company is as follows:

Mlles eh.
87 25
.. 61

The Irialryers' Arius Branch 1 56
The Greenwich Line • • • • • • • ' • • • 3 60
The Maidstone Branch • • • • • • • • • • • • 9 77
The Tunbridge and Tunbridge Wells Branch .. 5 22
The Ashford, Canterbury, and Ramsgate Branch .. .. 30 10
The Ramsgate and Margate Branch .. .. 3 56
The Minster and Deal Branch • • 8 67
The Canterbury and Whitstable Line .. • • .. • • 5 78
The Gravesend and Rochester Line .. • • • • • • 6 15
making 163 miles and 47 chains of railway. This includes the
Greenwich Railway, and the Canterbury and Whitstable Railway,
held on lease, and also 13 miles and 22 chains of the Brighton Rail-
way, being a portion of the distance between. London and Reigate,
over which the South-Eastern Railway CompsitiV; by agreement with
the London, Brighton, and South Coast
_Railway Company, has a
right to run toll free. 3

anditshould be stated that the London,' Brighton, and South
Coast Railway Company has the sight to run'tell free over so much
of the Greenwich Railway as forms part of the main line to Reigate,
over the six miles of the South-Eastern Railway between Croydon
and Reigate, and over the Bricklayers' Arms Branch.
Before proceeding M treat of the prospects of the Company, it
Will be well to call to mind the relation of the different capitals to
each other, and their rights to the earnings now in course of receipt.
And, to do this, it must be stated that in accordance with the
terms of the resolutions passed by the proprietors on the 11th of
September, 1845, no dividend is payable in respect of any of the new
shares then created, viz., the No. 3 Shares, until six months after the
day to which a dividend has been declared on the then existing
shares of the company, next following the opening for traffic of the
latest in point of execution of the following lines of railway and
Works authorised by the several Acts passed during the preceding
session of Parliament, `iz.:—
The Branch Railway from Tunbridge to Tunbridge Wells.
The Branch Railway from Minster to Deal, and Extension of the
Canterbury, Ramsgate, and Margate Railway.
The Branch Railway from Ashford to Hastings, and
The widening of the London and Greenwich Railway.
And all profits accruing from any of the new lines wholly or par-
tial-1Y opened before such day, are divisible among the proprietors of
the then existing shares.
And also that no dividend is payable in respect of any of the new
Shares then also created, viz., the No. 4 Shares, until six months
'after the day to which a dividend has been declared on the then ex-
,"Hag shares of the company, next following the opening for traffic
of the latest in point of execution of the following new lines of rail-
Way and works, viz.:—
The railway from the London and Greenwich Railway to Graves-
end

The railway from Tunbridge Wells to Hastings,
The railway from the town of Rye to Rye Harbour, and
The additional station at Ashford,
to be constructed by means of the additional capital to be raised by
the saline No. 4 Shares ; and that all profits accruing from any of
the new lines, wholly or partially opened before such day, are divi-
sible among the proprietors entitled to share the profits of the other
Riles and works of the company.
So that, according to the resolutions referred to, until all the
Works now in progress are completed, the holders of the Shares
then existing, via., the original and the No. 1 and No. 2 Shares, reap
advantages beyond those earned by the specific capitals upon which
the dividend is payable.
The branches which have been opened for traffic and contributed
their earnings to the advantage of the original and the No. 1 and
No. 2 Shares are : —The Tunbridge and Tunbridge Wells Branch, 5
miles in length, which was opened on the 20th of September, 1845 ;
the Minster and Deal Branch, 1% miles in length, which was opened
on the Ist of July, 1847 ; and the Gravesend and Rochester Line,
6 mites in length, woich was opened as a double line on the 23d
of August, 1847.

regard to these facts, which have always heel before the pro-
prietors, will sufficiently evince how far they have affected past di-
vidends.

It was not contemplated that any benefit would be given to the
holders of the No. 3 and No. 4 Shares until the lines of railway and
works for which those capitals were created had been opened for
traffic; those shares were issued at 30/. per paid-up share, to be
eventually on a par with the original and the No. 1 and No. 2 Shares,
on which the average payment will be 32/. 19s. per share ; but the
exigencies of the money market, which defied all calculation, made
it incumbent on the directors, in order to insure the prompt payment
of the calls on the No. 3 and No. 4 Shares, which was of vital im-
portance to the Company, to call upon the proprietors to empower
them to pay interest at the rate of five per cent. per annum out of
capital, until the holders of the No. 3 and No. 4 Shares should be-
come entitled to dividend. This power was granted by the proprie-
on the 18th of February, 1847.
Whilst the directors confidently submit that this measure, so au-
thorised and sanctioned by the propriet rs, was dictated by sound
Policy to meet the unequalled difficulties of the times, it is obviously
desirable for the company to terminate the payment of interest out of
capital, which necessity alone justified, by proceeding vigorously to
Complete the works, and thereby to render the whole of the capital
expended productive.
It will be well, before proceeding further, to remind the proprie-
tors of the terms on which the Greenwich Railway, the Reading,
tildford, and Reigate Railway, and the Canterbury and Whitstable
."41„lwaY are held by the South-Eastern Railway Company.
,The Greenwich Railway is held on lease for 999 years, from the
of January 1845. The rent payable this year is 40,0007., and it
Will increase at the rate of 1,0301. per annum until the year 1854,
When the maximum yearly rent of 45,0001. will be payable.
The Reading, Guildford, and Reigate Railway is agreed to be
leased in perpetuity from the time of the completion of the works,
Which is to take place in August next. The rent is to be payable
at the rate of five and a half per cant. per annum on the cost, which
Limited to 600,0001. , • the rental will, therefore, be' '33,0001, per
annum.
Canterbury and Whitstable Railway is held on lease for the
"`,_""' of 14 years, commencing from the 29th of September, 1844.
Inc rent payable for the remainder of the term is 3,0007. per annum.
addition to interest on the mortgage debt, amounting to 44,2211 ,
is 2,2111. Is. per annum. The South-Eastern Railway
Ztl.,Parly has the option, before the 29th September, 1862, of pur-
"lßg this line on payment of 60,000/. as the purchase money, and
on assuming the mortgage liability of 44,2211.
The South-Easteron Railway Company have relaid this line with
:',..eavy rails since it was leased to them, and they have removed the
r4l°llitrY engines with which it was worked, in order to substitute
have also
power for the purposes of the traffic; and as coke works
'Lave also been built by the company at Whitstable, and money has
;Ira expended by them in the improvement of the harbour, the
exercise
think it win probably be for the interest of the company to
their option of purchase.
The length of the lines of railway and branches In course of con-
struction by, and to be leased to, the South-Eastern Railway Cora-
PailY, is 133 miles; yig.

The North Kent line from London to Woolwich, DartfordMiles. ch.
and Gravesend .. ..
•• •• •• .. 25 4
The North Kent, Greenwich, and Bricklayers' Arms Junc-
tion Railway • . 60
.. •• •• •• The Ashford 11
' --Ye, Hastings, and St. Leonard's Branch .. 28 24
The Branch from Rye to Rye Harbour ......1 70
The Tunbridge Wells and Hastings Line, and Branch to-
wards Rye
.. 31 14
• •• •• •• •• •• The Reading, Guilford, •and Reigate Line • • • • • • 45 68
Of the Reading, Guilford, and Reigate Railway 6 miles 40 chains
are to be made by the South-Western Railway Company ; and for
the use of this part the South• Eastern Railway Company will have
to Pay a proportionate toll.
The length, therefore, of the line of railway and branches which
will ultimately be used for traffic by the South-Eastern Railway
Company will be 296 miles and 47 chains.
tiilt will be seen in the Statement A. that the capital already au-
ned by the Company's Act of Parliament is 9,115,3751.
•Ine amount of capital expended by the company to the Ist of
aanuary, 1849, is 7,890,5321., as shown in Statement B. ; and it will
be seen that of this amount 6,689,3051. has been paid up by the pro-
Drietors, and 1,201,2271. has been advanced to them on mortgage,
and remained due at that date.
The works in progress of construction are :
The enlargement and division of the London-bridge station, and
the widening or the Greenwich line.
The North Kent line, from London to Woolwich, Dartford, and
Gravesend.
The North Kent, Greenwich, and Bricklayers' Arms Junction line.
The Ashford locomotive station and works.
The Ashford, Rye, Rye Harbour, Hastings and St. Leonard's
branch, and
The Tunbridge Wells and Hastings line.
The amount of capital that will have to be expended to complete
these works, to pay for the land not yet in the company's possession.
for stations, permanent materials. and for the erectioneof the electric
telegraph on the new lines is 1,132,724/.
The estimates for these works are less by 465,000 L than the prices
in tne origin= USLIUJaLuo, ~,,,,,1 thLa ',mount of saving of expenditure
'will be effected by the revision and ate:tette. tnat nee ~ o, ...-
the works, and the reduction that has taken place in the price or
labour and materials.
It is estimated that a further sum of 108,9001. will eventually have
to be expended to increase the locomotive engine and carrying stock.
t o meet the requirements of the traffic of the new lines when opened
for traffic; so that the total amount of expenditure under these heads
llom the Ist instant, will be 1,241,624/.
The North Kent line will, it is expected, be open for traffic by the
let 01 dole, although the works have not all been pushed forward as
the directors considered they had a right to expect.
IThe enlargement of the London-bridge station must be completed
~,ntbine for the opening of the North Kent line ; and it is clearly of
Importance to provide proper station accommodation for the traffic
Of this and of the other South-Eastern lines and branches.
I,„The North-Kent, Greenwich, and Bricklayers' Arms Junction
,`me, which will connect the Bricklayers' Arms station and its popu-
male neighbourhood with Greenwich and the North-Kent Railway,
tßay be opened in three mouths ; and will probably be the means of Product
ft. ng a larger return of traffic to the company, compared with
cot, than any other of the works, as it will connect important
extstin collnes with each other.
a lam The d rnpletioe of the Ashford locomotive station and works is
ed to be of great consequence to the welfare of the company,
be
tocfie Donlon of the future expenditure on revenue account will urred there
The co •
Lino fr netruetion of the South-Eastern Railway Company's Coast
i ottat' line • -orn Ashford to Rye, Hastings and St. Leonard's, where it
''ns the London, Brighton, and South-Coast Railway Company'
tiew
am m e, making the coast line of commtmiction rom Ragoatteh,
cover,e Folkestone and the other ports ofa Kent f
to Portz u .
all ti 'westrd complete, is finished between Ashford and Rye __ e land i ash company's Possession, and the works will be
veereielee co eed with as speedily as possible.
do, Tiulc to core-
Vitt, tePany were ledd to an the P
line b p
y the autumgen of 1848 ;Parliament d bat this they were unable Ti
citherVilenreasonable Minters made for executing the works,
savedan
geiZerale, etiltles, caused the delay ; for ofthe sum of 465,0001.,
he
m 0 ovrer the works in progress, 150,000/. will be saved on the
art bete•ethe
The "n Ashford and St. Leohard's.
important work, of -which the heaviest portions are in
reramT,adneed state, is the Tunbridge Wells and Hastings line. The 1
etamia`,erpwill average a comparativefy small coati
the eo,„'" roceecied with as fast as the financial circumstances o
Merl e
Tit "'Daily will permit.
Hastings traffic, Per mile, andf
which, it must be remembered, came for-
it !1 et the opening
since on the South-Eastern Railway at Staelehurst, has been lost to
of the Brighten CompanY's Hastings line of the
. azZerJune, 1846, but the larger proportion os this traffic win be
Hasitli arty on the completion of the South-En\
era COMPalw,
ngs line,
thehe ~.„,,„
,-''''urees which are at the disposal of the comenmy to meet
tiooaY required for the completion of the works, for the addl.
„met locoMetive engines and carrying stock' the interest that
am bl, Payable to the proprietors of the No. 3 and No. 4 Shares,
alsets-"e n'°rtgage debt, are set forth in the statement of
, Marked C.
They
consisted, on the Ist instant, of—Cash Is hand, 104,747/, les;
eat, Y eveilite, 14,8121. ss. Id. • calls in course
to be made, 732,6571. ; nissued shares, 1401f,7671' unex.e,reised
Ipt, 125,160 e ;
rnort
itny :age powers, 231,325/. ;h which latter sudreen be capitalized at
of 353eroV cosen by the roprietors, as can hi like Manner the sun:
_ elializ
~ ?le h
the portion p
of the preseet7Mertg
Ba-
by thee' , and beond these sums, the Company has power to raise,
ge debt not yet
creation of new shares, 340,0001.
253zoslurplus land and other property of th, company et cis rankle,: the aggregate of assets 2,296,8821 3s. Id.
is valued at
empowered
, y _ thus been shown that the company are already emp •
115472 I several Acts or Parliament to raise in the aggregate
51. for the executioner their works, and to snake and open all
"r .t4.s of railway, exclusive of tluir lino between Gravesend and

Rochester, and the result will show that the capital was adequate to
the purpose.
The line from Gravesend to Rochester is on a different footing ;
the company were authorise 1 by their Act to purchase the railway
and canal, and to fill up the canal, and double the line of railway,
so as to form a part of the South-Eastern North Kent line, but ne
prevision was made by Parliament far the payment of the purchase
money, nor any authority given to raise money for that purpose.
Parliament had, however, previously recognised the principle and
necessity of a grant of power to raise money for the purpose of exe-
cuting the works, by auth uisingthe Gravesend and Rochester Rail-
way and Canal Company to raise 85.000/. by the creation of shares,
and 50,6661. by mortgage, and all the powers of the Gravesend and
Rochester Railway and Canal Company were vested in the South-
Eastern Railway Company by the Act of Parliament authorising
them to purchase the railway and canal.
The South-Eastern Railway Company purchased the Gravesend
and Rochester Railway and Canal for the sum of 310,002/. ; paying
31,0001. In cash, and giving bonds for 279,0001., payable, with inte-
rest at three and a half per cent. per annum, in the year 1851, and
application will consequently be made to Parliament to raise the
sum of 358,9351., for payment of the purchase-money and interest.
The filling up of the canal, and doubling of the line of railway,
has 132 en executed by the South-Eastern Railway Company; and
the line was opened by them for traffic as a double line on the 23d of
August, 1847.
In addition, the proprietors authorised the payment of interest on
the No. 3 and No. 4 Shares ; bat they did not provide any specific
fund for such payment. The amount paid up to the Ist instant is
159,166/. 17s. and the further amount that will he payable under this
head is dependent in some measure on the time of opening the new
lines—it may be taken at 205,0161. Gs. Gd.
Had this payment of interest on the No. 3 and No. 4 Shares net

been made, it Would have been out of the power of the company to
maintain, as they are doing, full faith with Parliament in construct-
ing those lines, to the completion of which Parliament itself looks,
and justly, with considerable interest.
The additional sum of 350,9851. will make the whole paid-up
capital of the company 9,466,3601., which will represent 296 miles of
railway open for traffic, and a locomotive and carrying stock of the
value of upwards of 600,0001., free from mortgage and other debt,
earning revenue, and subject only to the deduction of the working
expenses, rates and taxes, and of the rents of the Greenwich, the
Reading, Guildford, and Reigate, and the Canterbury and NVhitstable
Railways, and the proportionate toll over the 6 mires and 40 chains
of the South-Western Railway.
The revenue produced by the lines open during the last year,
162 miles and 6G chains in length, was 449,7251. I Is. Id., or 2,7631.
per mile.
The policy of the company for the last four years, that they should
themselves be the carriers of goods on their own lines, has been
adopted with entire succese s the reepipta from goods. which ever.
aged weekly 6041. In 1844, amounted to 1,8101. per week in 1848 ; or
in the former year to 61. 12s. per mile per week, and to 12/. per mile
per week in the latter.
This policy the directors believe will be still more successful
when applied to the traffic of the whole South-Eastern system of
Railways, and will then produce more than a corresponding, increase
of receipts.
The proprietors will take into consideration, in estimating the ad-
ditional revenue to be obtained when the whole 296 riles of railway '
are open, the anticipated improvement it the continental traffic in
passengers and merchandise, the return to be derived from the
North Kent line, the Bricklayers' Arms Junction, and the other
railways in progress, as well as the general prospects of the country,
and the hope of a greater development of the existing traffic of the
South-Eastern district, and they will probably arrive at the conclu-
sion that the permanent dividend to be derived from their property is
not likely to be less than 6 per cent. ; and if the proprietors have not
erred in the anticipations on which their original investment was
made, still greater advantages are to be expected.
The South-Eastern Railway Company holds, from its natural posi-
.

ion, the key to the land traffic passing from Europe into Great 3rl.

fain, and cannot be dispossessed of it ; and while it would be of no
advantage to speculate on the results which must attend this situa-
tion, yet it would be improper not to express the opinion of the di-
reeler's, that this position must be of great importance and advan-
tage to the company.
At the moment, however, when the railway from Boulogne to
Paris was completed, the French revolution took place, and from
that time to the present there has not been as much Continental
traffic as there was before the opening of the French lines of
railway.
The disruption of the political relations of Europe, by which com-
merce generally has suffered, has naturally been visited on the South-
Eastern Railway, as the great highway to the continent.
In the last twelve months only 44,110 passengers crossed to and
from Folkestone and Boulogne by the steam-ships, and in the pre-
ceding twelvesnonths, when the French lines were not opened, the
number of passengers was 49,514.
The establishment of a settled Government in France, and the
continuance of peace throughout Europe, may fairly be expected to
be attended by a resumption of the ordinary extent of communica-
tion with this country; and it will be a solitary exception in nil-
way experience, if the means now existing of reaching Paris daily
in twelve hours from London, by the South •Eastern route, have
not the effect of Increasing greatly the number of travellers.
The directors have always lookrd to the extension of the railway
system on the Continent and to the completion of the lines pointing
to the Mediterranean with peculiar interest.
To do justice to the Continental traffic, it is essential that the
short sea passage from Folkestone and Dover to Boulogne and Calais
should be performed at hours to suit passengers, and by the best
class of steam-ships, and this, it is well known, has been admirably
effected by the steam-ships of the South-Eastern and Continental
Company, which have made 3,438 passages without a single accident
—the time occupied in the voyage of 26 miles from Folkestone to
Boulogne varying from one hour and three-quarters to two hours
and a quarter.
The revenue of the London. Folkestone, and Dover line, depend-

. .
ing, to an important extent, on the facilities and certainty of quick
passages to and from Boulogne and Calais, the directors are of opi-
nion that it is desirable that the South-Eastern and Continental
Steam-ship Company should be merged in the South-Eastern Rail-
way Company, as the sea service requires to le performed more with
reference to its advantage to the railway than to that of the proprie-
tors of the steam-boats.
It is requisite that greater facilities should be given for the con-
veyance of merchandise between Folkestone and Boulogne, by which
the South-Eastern Railway Company has hitherto benefited but
little, than the steam-boat proprietors as an isolated company can
afford to provide; and, although the case might be met by a general
guarantee from the railway company on all the paseenzers and mer-
chandise carried by it and the steam-ships, there would be greater
simplicity, and more effective combination, were the two undertak-
ings united. _ _ •" '

It has been shown that the ultimate capital of the railway will be
9,466,360/., whilst 130,0001. has been sufticieNt to provide eight splen-
did steam-ships for the daily service to France.
With regard to the disputed claims on the company, alluded to in
a previous half-yearly report, and which are all referred to arbdra-

comprising the claims of the contractors, engineers, surveyors,
and solicitors, amounting to 196,8001., the directors believe that they
will be settled for the turn set apart to meet them, viz., 138,0401.,
which has been invested for that purpose in the stock of the South-
Eastern Railway Company, as offers have been made to the
directors to compromise the principal claims on a reduction of up-
wards of 60,0001.
The directors consider that the science of working railways with
economy is still in its infancy, and can be only attained by care
and great experience ; and they have the most confident expecta•
Lion that great improvements will continue to be made under
this head.
The extortionate parochial assessments to which this com•)any
has been subjected, and to which it was compelled, for many rea-
sons, reluctantly to submit, during the pressure of Parliamentary
contests, are now systematically resisted, and will soon, so far as
the existing law, which bears very baldly on railway companies
permits, be, the directors trust, equitably adjusted.
The proprietors will not fail to observe that the difficulties at-
tendant on the commencement and completion of an undertaking
like the South-Eastern Railway are apparent to every one ; the
prospective advantages which follow the full establishment and de-
velopment of a great commercial institution, are not so striking,
but are properly to be considered, and taken into account in attempt-
ing to arrive at any fair estimate of its value.
The directors trust that the unabated confidence which they en-
tertain in the South-Eastern Railway will be shared by the proprie-
tors ; and it will be the study of the directors to promote the inte-
rests of the company to the best of their ability.
JAMES MACGREGOR, Chairman.

A 34.—Capital authorized by the Acts of Parliament.

Date
Title of Act. of Royal Purpose. Shares. Loan.
Assent.
£ £
Main Line- 1,400,000 450,000
6 Will. IV. c, 75 21 June, 1836 London to
Folkestone
5 Vic. c. 3 22,Apri1,1842 and Dover 800,000 266,600
f London-
3& 4 Vic. c. 122 10 Aug. 1840 L bridgestation j 90,000 . 30,000
SSExtension
into Dover
6& 7 Vic. c. 51 27 June, 1843 and Dover 200,000 66,600
Terminus
r Maidstone 1
6& 7 Vic. c. 52 27 June, 1843 / Branch j 112,000 37,300
Bricklayers' z
6& 7 Vic. 62 4 July, 1843 1 Aand'Sntartioenh S 133,333 44,444
Canterbury,
Ramsgate,
7 Vic. c. 25 23 May, 1844 and Margate 400,000 133,000
Branch ..
1 Folkestone
Branch, liar. 200,000 66,000
7 Vic. c. 69 4 July, 1844 bour, &c. „
r Tunbridge 1 180,000 60,000
8&9 Vic. c. 167 31 July, 1845 L Wells Branch
r Widening 1
and Eaten-
sion of the 85,000 56,666
J 8 & 9 Vic. C. 168 31 July, 1845 1 Gravesend
1 and Roches-
. l ter Line ..
1 *the Green- Widening of ,
142,700 47,566
8& 9 Vic. c. 186 4 Aug. 1845 wlehßailway
8 & 8 vie.
0.197 8 Aug. 1845 f
::.leinalstßerraancnidi/ 187,000 62,300
Ashfor.l,Rye,
limtings,and
8& 9 Vie. 0.200 8 Aug. 1845 St. Leonard's 410,000 136,000
Branch .- •
Rye and Rye .
•
/ Harbour
t
o vi.... cc isa .Tnn0.1846 20,000 6.600
Ashford, Lo--1
comotive
9 Vie. c. 56 18 June, 1846 Stationencra tu 500,000 266,000
Pur-
poses •• • • •• J
Tunbridge
Wells and
9 Vic. c. 64 18 June, 1846 Hastings 640,000 213,300
Branch
North Kent Line 1,000,000 833,000
9 &10Vic. c. 305 3 Aug. 1846 Greenwich,
1i
North Kent, 1
10 &It V. c. 104 2 July, 1847 ' and Brick- 55,000 18,300
layers, Arms I
Juno. Line • • J
London-
bridge Sta-
tion En-
-10 &11 V.e. 230 22 July, 1847 largement 200,000 66,666
and further
Widening of
the Green-
wichßailway
---
6,755,033 2,360,342
6,755,033
X 9,115,375

B,—Statement showing the Amount Expended and to be Expended
on the Main Line and Branches, and ultimate Capital, 31st De-
cember,-1848.

E slpBe4nBd. e d
cTom° bpei
eeta:
Name. to; Dec. 31, pended to Total.
Main line and Bricklayers' Arms £
Branch •• •
North Kent, Greenwich Branch
widening, and London Station
division and enlargement .. • . 1,930,327 457,094 2,387,421
Folkestone Branch, harbour,
coke works, &e. •• • • •• ••• • • 174,656 11,500 186,156
Locomotive department •and
carrying stock
Maidstone Branch .. .•••• • • • • • 187,715 1,500 189,215
Canterbury, Ramsgate, and Mar-
gate, Whitstable, and Minster
and Deal Branches .........• 809,958 7,800 817,758
Ashford Station, and Ashford
and Hastings, St. Leonard's,
and Rye Branch •• • . ...... 425,151 330,130 755,281
Tunbridge and Tunbridge Wells
and Hastings Branch, and
Branch towards Rye .. • • .... 424,325 216,500 710,825
£7,890,532 £1,241,624X9,132,156

.£ 1,241,6241X9,132,156
Interest to be paid topropricton.• •••• • • . • 205,106
Lost on issue of original shares • • •• • • • • .. .. 244,504
Amount Invested to meet disputed accounts 138,054

£9,719,730
253,370