The Sun.
London, England, 1851-01-18 00:00:00

RAILWAY

INTELLIGENCE.

LONDON, LqiIGHTON, AND SOUTH-COAST.
The report of the directors to be 6W-mitted to the
meeting of the proprietors on Friday next is in substance
as follows :

The accounts for the half-year ending the 31st Decem-
ber, 1850, are subs Ailed, and show the following results :
CAPITAL AccousT.—The amount of capital raised
up to the 31st D. c, mber, 1850, is 7,113 467/, consisting
of mortgage debt, 1,460,2371.; preference share capital,
1,037.5961 ; consolidated stock, 4,615,6341. Total,
7,113,467/.
The additional capital expend,d during the past half-
year amounts to 36,7104, of which 19,8981. is for the
London-bridge station enlargement; and 16,812/. for
additional working stock, the settlement of old accounts,
and the completion of lines recently opened.
The New London-bridge Terminus is now on the eve
of completion, and will not require a further expenditure
of above 10,000/, which will make the Otal cost about
150,0001., or 7,0001. less than the original estimate.
The whole of the works in progress or in contempla-
ti6n, and included in the estimates formerly given to the
proprietors, being thus completed, the directors feel war-
ranted in saying that a margin of about 25,0001., together
with the remaining surplus lands, will still remain avail-
able, of the estimated final capital of 7,200,0001. The
proprietors will, therefore, have the satisfaction of seeing
that, although the great increase of traffic, especially of
goods traffic, since the date of those estimates, has of
course required an increase of working stock and station
amimmodation, there is no danger of that limit of capital
being exceeded, unless a considerable increase should
take place above an income of 500,000/. a year, on which
all the estimates have been based.

REVENUE ACCOUNT.—The total receipts for the half-
year have been 306 2191, showing an increase of 19.8621.
over the corresponding half•year of 1849. Deducting the
cartage and rents in both cases, the increase in the rail-
way traffic has been 17,938/, of which 10,9411. has been
in the passenger traffic, 6,4831. in the goods traffic, and
514/. in the wharf earnings.
Considering that the traffic of 1849, with which the
comparison is instituted, was itself largely in excess of
1848, for the same mileage, the progress appears satis-
factory, especially when it is considered that during
these two years the disturbed state of the continent
brought many additional visitors to the watering places
of the south coast, while during the year 1850 the num-
ber of persons visiting the continent has been unusually
great. The increase of passenger traffic, however, has
not been so much in the regular traffic as in that of holi-
days, excursions, and other special occasions, when
traffic has been attracted to the line by extraordinary
exertions, and has consequently been attended with in-
creased expense. Under the circumstances stated, it
would have been scarcely reasonable to expect a con-
tinuance of the rapid increase of the regular passenger
traffic, which took place in 1848 and 1849; and a steady
advance with the growth of the population along the
line is as much as ought to be anticipated.
The general result of the comparison of the expendi-
ture of the past half-year with the corresponding half-
year of 1849 may be thus stated:—

Ordinary working expenses
Per train per mile... ...
Per cent. of receipts ...
Renewals
Cartage ... ... .6.

Total