The Sun.
London, England, 1848-11-22 00:00:00

No. 4.—LINES GUARANTEED AND LEASED.

Rate of Amount of
Name. re Capital. Guarantee Dividend
per Ammm.
•.4
Sheffield and Bo- 8 s. s. d.
therham . . 9M 150,000 0.6 pr. et. perp. 9,000 0 0
Erewash Valley . 21% 14.5,000 0 0 pr. et. rule. 8,700 0 0
Brlamtnnglhamand 95}4 *1,799,982 I6G pr. et. perp. 107,994 3 3
Leicester and swan-
nington .16 140,000 0 8 pr. et. perp. 11,200 0 0
Leeds and Bradford 43 900,000 010 pr. et. perp. 190,000 0 0
185} 3,134,902 15 226,894 3 3

No. S.—LINES IN WHICH THE COMPANY IS ENTEktagg.lilfr
SUBSCRIPTION. /4N-s-t-
,4"
Vki.15.05:
=E:3I 44,14 4ii
---7• AV
--- • I
-7Asm:AN

v7(et
5'5
_.2 T t 1 Ai. ::i°.,'4., ,
Name. tx: subscripoa 0\10.':. :
.=
.., ....
tion. # '1.‘,... :
.-4
--__ .....- _.._
Manchester, Buxton, and Mat- £ x} • .*i. '
lock Junction, 14,250 shares
of 16/. each •
South Staffordshire, 6,000
shares of 121. each 234 72,000 39,000 12,000
Manchester and Lincoln Union
Railway and Canal Com-
pany from Stavely to Work-
sop, 7,500 shares of 8/.25. Od.
eachl .........
South Devon, 1,000 shares of
50/. each,and 1,000 preferen-
tial
shares of 251. each§ 57 75,000 75,000 Nil.
. i 924 435,750 201,750 33,000
•

* It is proposed at present to continue this line only to
Rowsley, 12 miles from Ambergate, for which 21,0001. addi-
tional from this company will be sufficient—viz., 14,0001. in
1849, and 7,0001. in 1850.

t A further call of 21. per share will, it is believed, com-
plete this line.
This has become part of the Manchester, Sheffield, and
Lincolnshire Railway and Canal Company; it is understood
that no further calls will be made.

§ These shares came into the possession of the company
through the purchase of the Bristol and Birmingham Railway.

No. 6.—LINES FOR WHICH ACTS OP PARLIAMENT HAVE BEEN
OBTAINED, BUT WHICH ARE NOT UNDER CONTRACT.
Amount authorised by to,
Act. Sri
•
Name. In Stock
and By Total. n.
Shares. Loans.
Extension from Leicester, £
via Bedford to Hitchin,
, and to Northampton and
Huntingdon ......... 2,250,000 2,250,000 Nil.
Erewash Valley, Extension
to Clay Cross
Enlargement of Masbo-
rough and Normanton
Stations 34,000 34,000 Nil.
Birmingham Extension
Nottingham and Lincoln
Extension at Lincoln
Ripley Line and Branches,
Junction at Long Eaton,
Masborough and Rother-
ham Junction, Cinder-
hill Branch, Coal Station
at Derby, and Enlarge-
ment of Derby and Bur-
ton Stations ....... 93,000 31,000 t 124,0 i i Nil.
Gloucester and Stenehouse 110,000 110,000 NiL
King's Norton and Hales-
Owen 130,000 43,300 173,300 Nil.
Clay Cross and Newarkl 580,000 580,000 Nil.
Leicester and Nuneaton
Burton to Nuneaton 656,000/ 656000 Nil.
4,556,025174,300 4,630,325
- -

• 2i miles under construction, to connect the Erewash
Valley with the Mansfield and Pinxton, the coat of which is
included in Table No. 3.

Of this sum 18,3101. 16s. ld. is to be found by other par-
ties, if the lines are made, powers having been taken only for
their accommodation.

: The branch to Southwell, 21 miles, has been made, and
the cost is included in that of the Nottingham and Lincoln
Railway. . .

§ The engineering and Parliamentary expenses incurred
in obtaining these different Acts of Parliament, and in op-
posing hostile schemes, are charged to the general account.

No part of these works will be undertaken without the pre-
vious sanction of the proprietors ; a pledge to this effect was
given at the last half-yearly meeting.
The Leicester and Nuneaton Railway Act contains powers
for the London and North-Western and Midland Companies
to purchase the railway, either together or separately ; the
directors are of opinion that it ought to be wholly in the
hands of this company, and they have so agreed with the
London and North-Western Company, subject to the sanc-
tion of the shareholders. Although the Act contains powers
to raise 360,0001., the line from Leicester to Nuneaton is esti-
mated to coat only 250,0001.

No. 7.—SUMMARY Or CAPITAL TO BE PROVIDED BY THE
COMPANY.
Estimated
Expended Amount
Name. to Oct. 24, required Total.
1848. to com-
plete.
---•
Lines producing Revenue, in-
cluding plant for Main
Line, and Branches, see
Table No. 2. 11,364,414 414,245 11,778,659
Lines in course of Con-
struction, see Table No. 3 391,796 321,000 712,796
Subscriptions to other Corn-
ponies, see Table No. 5 ... 301,7501 33,000 234,750
11,957,960: 768,945112,726,205

It will be seen, on reference to table No. 7, that the amount
of capital required to complete the main line and branches,
with the subscriptions to other companies, is 768,245/.
To meet this outlay the company have tke power
of making calls, which, with the arrears, will
amount to . £2,602,615
9,007 shares of 401. each, net yet issued ... ... 360,280

£2,962,895
Deduct for completion of main line, branches, &c. 768,245

Balance available for repayment of loans ....£2,194,650
When the lines now in course ofconstrnction are completed
the company will possess 498 miles of railway, 30 miles of
canal, and 13 miles of tramway, under its own control; and
a pecuniary interest in 92i miles of railway, the traffic of
which is likely to increase that of the main line.
In looking at the futfwe prospects of the company as to di-
vidends, the directors gillathe following facts for the guidance
of the shareholders:— '
The average receipt per mile per
annum for the year ending ...June 30, 1844 was £2,426
ft ~ tt „ 1845 „ 2,948
tf ~ ft „ 1846 „ 3,391
~ ~ ~ f f f 1847 „ 2,704

f „ 1848
The estimated average receipt per mile per annum re-
quired to pay 6 per cent., when the works under contract are
completed and paid for, is about 2,8501.
In considering the probability of an increase of 230/. per
mile per annum, as compared with the average mileage re.
ceipt of the year ending June 30, 1848, it is necessary to bear
in mind that more than 153 miles of railway have been
opened by this company since Midsummer, 1846, and a con-
siderable portion within a few months only ; that the traffic
of a district is not thrown all at once upon a railway, but
that it requires some years for its development; that the
traffic of this railway has suffered severely from the depres-
sion which has been felt in all departments of commerce;
that it has also suffered from the abstraction of trafic,, caused
by the opening of the Trent Valley, Caledonian, Great
Northern, and other lines; but it is hoped that a general re-
vival in trade and the opening of the East Lancashire Rail-
way to Colne ; the Manchester, Sheffield, and Lincolnshire,
from New Holland and Great Grimsby to Lincoln; the Mat-
lock and Midland to Ambergate, and the south Stafford-
shire Junction with the Birmingham and Derby—all of
which are within a few months of completion—will enable
the company to realise the above increase.
By order of the board of directors,
Derby, Nov. 17, 1848. J. F. BELL, Secretary.