The Sun.
London, England, 1851-08-19 00:00:00

bonds of Hull and Selby Railway, 5,141,5771. The
expenditure ono, capital account during the half-year
has been 96,3031., namely-39,5621. in discharge of
arrears,, 32,708/. on works in progress when the pre-
sent directors- took office, and 13,1001. on works un-
dertaken by the present board. In addition
to the above payments, 4,2471. is charged for new
waggong, 3,4801. for new carriages, and 3,204/. for
increased weight of materials used in relaying por-
tions of the Leeds and Selby and York and Norman-
ton lines. Tne most expensive works undertaken by
the present board have been at Marsh-lane, Leeds;
the amount expended in previous half-years having
been 4,331/. and the estimate for their completion
about 8,0001., the whole expenditure will probably
reach 11,1001. The proprietors may rest assured that
the directors will recommend no fresh expenditure
without a thorough conviction on their part that a
large interest will be obtained on the outlay. Tne
receipts from ordinary traffic in the half-year ending
the,3och of June lastehave been 178,8161., thus showing
an increase of 4,0881. over the corresponding six
months in 1850. There are good reasons for believing
that this increase would have been greater had not the
attraction of the Crystal Palace produced such an
universal desire to visit the metropolis, that Scarbo-
rough, Harrogate, and the other watering places of
the district, have been comparatively neglected ; and
the low rate of the excursion fares to London has
rendered it nearly impracticable to get up excursion
trips in any other direction, while as the London traf-
fic passes over so short a proportion of the lines of this
company it by no means compensates for that which
it has taken away. This view is corroborated by the
fact that the net receipts from excursion trips from
Jane the 21 to August the lltb, 1850, were 4 2141.,
while those between June the Ist and August the
10tH, 1851, amounted only to 2,3171; and that the
receipts from passenger traffic during the first four
months of 1851 showed an increase of 2,456/. shove
the same months of 1850, while those during June
and July last were 2,488/, less than in the June and
July, 1850. The disposable balance, after payment
of 46,385/ for rent of the Hull and Selby Railway
And interest on the preference shares, amounts to
15,511/., out of which the directors recommend that
a dividend be declared after the rate of 1/. per cent.
per annum (deducting income-tax) on the consoli-
dated stock of the company; after payment of which
a balance of 397/. will remain to be carried to the
credit of the current half-rar. The directors,
Ater erivieg their best attention to the Rolling
Stock Renewal Fund, have unanimously agreed to
recommend to the proprietors that the plan tempo-
rarily nclop'ed, of setting aside annually a sum for
the renew:a of rolling stock shall no longer be con-
tinued, but that every description of this stock shall
in future be maintained out of the current revenue in
a state of complete efficiency. After paying for four
new engines and tenders, and sonic other articles re-
fitted, there will still remain a small balance to the
credit of this fund, and this balance it is proposed to
retain to the credit of rolling stock, and to increase
it by the proceeds of 17 old engines, whenever they
can be disposed of on reasonable terms. Those en-
gines form part of the 27 which the Committee of
investigation recommended should be parted with,
and the proceeds appropriated to the purchase of new
engines. Some of these have been sold, and the re-
mainder have appeared in the regular return of the
company's working stock. It is now proposed that
!hey shall be held to the credit of the renewal fund,
which will reduce the number of engines appearing
in the return to 110, and of the tenders to 100; it
being thought desirable that no stock should be in-
cluded in the half-yearly statements which is not in a
serviceable state. The East and West Yorkshire line
has been worked by this company since the Ist of
July last. The advantages of possessing this line, in
a defensive point of view, are very evident, and the
traffic on it is increasing ; but no estimate can be
formed of its capabilities until a communication has
been opened with the Leeds and Thirak Railway at
Starbeck, respecting which terms have been arranged
and will be immediately brought into operation.
The capital account shows that 5,141,5771. bad been
received to the 30th of June, and 5,106,162/. ex-
pended, leaving a balance of 35,4151. The York and
North Midland mortgage debt account shows a total
of 1,523,523/., of which 468,928/. was borrowed at 5
per cent.; 615,605/. at 4f per cent., 278,1001. at 41
Per cent., and 161,430/. at 4 per cent. The Hull and
Selby mortgage debt shows a total of 167,881/., of
which 65,6411. was borrowed at 5 per cent., 46,1001.
at 4f per cent., 30,000/. at 44 per cent., 18,0501. at 4
per cent., and 8,000/. at 3f per cent.
The stock and share account shows that the com-
pany is authorised to raise 6,295,000/., via., 4,721,250/.
on shares, and 1,573,750/. on loan.
The revenue account for the half-year ending June
30 states that 191,093/. was received, including 5,1941.
from the last account ; and 86,548/. expended, in-
cluding 5,6721. for rates and taxes and 2,710/. for Go-
vernment duty, leaving a balance, out of which is
deducted 39,142/. for interest on mortgage bonds and
49,890/. interest and dividend on preference shares,
leaving a disposable balance of 15,511/. The re-
newal of permanent way fund shows a total of 38,612/.,
of which 12 842/. was expended during the half-year,
leaving a balance of 25,770/. The renewal of rolling
etock fund shows a total of 11,033/., of which 10,381/.
was expended during the half-year, leaving a balance
of 6521.

LIVERPOOL, CROSBY, AND SOUTHPORT.
The half-yearly report states that nine months
have elaped since the completion of the railway from
Southport to Kirkdale. The traffic has, to a certein
-'xtent, in common with other lines similarly situated,
neen atlected by the extraordinary influx of visitors
,ittracted this year to the metropolis. The terminus
of the line has been since the last meeting extended
to Chapel•street, Southport, by which the advantages
of a central and convenient station are secured. The
works are sufficiently advanced to allow of the station
being usEd for traffic, but are not entirely completed.
The Lancashire and Yorkshire Railway Company
work the traffic by agreement over the Southport
Railway, retaining as their proportion, in respect of
their mileage between Liverpool and Kirkdale, one-
half of all fares for a less distance than six miles on
the Southport line, and a sum equal to a six miles'
toll on their own line on all traffic carried beyond
that distance. The balance to the credit of revenue
amounts to 3,9181., out of.which the directors recom-
mend the payment of a dividend, clear of income-tax,
at the rate of 2 per cent. for the half-year on the
paid-up capital. The directors consider the working
agreement with the Lancashire and Yorkshire Cmn-
pany renders a reserve fund unnecessary.