The Sun.
London, England, 1851-08-20 00:00:00

WEDNESDAY

It AIL WAY IN'TELLI GEN CE.
EASTERN COUNTIES.
Thr directors of this company have just issued
their hp.lf-ye3rly report to be submitted to the pro-
prietor= at the general meeting on Monday next. It
states that the directors have to regret that the traffic
receipts exhibit a decrease as compared with the six
months ending the 4th of July, 1850, of 33,5241. on
the Eastern Counties line, and on the Norfolk line
2591., the total receipts being 366,922/, as contrasted
with 400.7051. for the corresponding half-year of
1850. This decrease on the Eastern Counties line is
in a great measure to be attributed to abstraction of
traffic and reduction of fares consequent upon the
opening of the Great Northern line from Peter-
borough to London ; also to the construction of the
branch trom Hitchin to Royston, which brought the
Great Northern line within about twelve miles from
Cambridge. The directors, however, rely with con-
fidence that the increased accommodation they are
now affording to the public will enable them gra-
dually to increase the revenue upon other portions
of the line. The working expenses are being gra-
dually reduced, and the directors feel justified in
stating, that further reductions will ultimately be
made. The inducements the directors have offered
to the proprietors of land and other parties have
resulted in the erection of several blocks of
houses ; and they have no doubt as it becomes more
generally known that this company is prepared to
grant a reduction in their charges for annual tickets,
in consideration of a party erecting a given number
of dwellings of a certain class, the facilities which
this line now affords for residential traffic will in-
sure an increase in the revenue. In reference to the
permanent way, the directors, after a trial of the
patent fish joint, became so impressed with its import-
ance, not only as giving a smoother road, thus re-
ducing the cost of the tractive power and the wear
and tear of the rolling stock, but as economising the
expense of maintenance, as to induce them to order
its application from Stratford to Bishop's Stortford, a
distance of 28 miles, a favourable opportunity present-
ing itself for so doing, as this portion of the line had
to be taken up for extensive repairs. Further expe-
rience may induce the directors to recommend a re-
consideration of the propriety of putting aside an
annual sum as a depreciation fund for the permanent
way, or an alteration in the amount so reserved. The
directors have disposed of a portion of the surplus
property. After numerous interviews with the di-
rectors of the Eastern Uuion Railway Company, seve-
ral matters of detail connected with the Harwich
agreement have been settled, and the seal of this com-
pany fixed to the agreement, and the directors trust that
no further obstacles may intervene to prevent the con-
struction of a branch to Harwich, which, when com-
plete, will add materially to the revenue of the com-
pany. The common seal has been affixed to the agree-
ment with the Newmarket Company, and the direc-
tors are informed that the line from Newmarket to
Cambridge will be opened for traffic in October of
this year. The directors refer with satisfaction to
the exertions making by the Northern Steam Packet
Company to promote a trade with Denmark through
the port of Lowestoft. The directors regret that the
Great Northern Company have considered it to be
their policy to endeavour to abstract traffic from the
East Anglian district, for whilst. it may damage the
the receipts of this company, they feel convinced the
interest of the Great Northern will not be promoted
by the competion which must ultimately ensue from
this aggressive line of policy. The line from Shelford
to Shepreth is now completed, but cannot be opened
for passenger traffic until arrangements have been
made for station accommodation at Shepreth. Since
the last general meeting two of the directors have
sent in their resignation, viz., Mr. Joseph Glynn and
Mr. Samuel Ellis; the board have filled up these
vacancies by the election of Lord Alfred Paget, M.P.,
and Mr. Cecil Fane. The directors beg to assure
the proprietors that their exertions will be anxiously
and assiduously directed to the increase of traffic, and
also to the reduction of expenditure so far as can
consistently be carried into effect.
The report of Mr. J. V. Gooch, the locomotive
superintendent, states that the number of miles run
by trains during this half year exceeds that of the
corresponding period of last year by 63,598 miles.
The total cost is 55,0331. equal to 10.573 d. per mile
per train, being a reduction in the expenses of
13,581/., equal to 3.316 d. per mile per train. The
total amount which has been expended in repairs and
renewals is more than will be required to maintain
this stock with efficiency. In the amount of 55,033/.
is included 3,0131. for the use of steam power, for
forming the passenger and goods trains, in consequence
principally of the great inconvenience of the London
stations, which would otherwise be done at a very re-
duced expense by manual labour. The total cost of
the carriage and waggon department for the half-year
is 16,7481, equal to 3.217 d. per mile per train, being
an increase of 2921., equal to 0.056 d. per mile per
train. In taking the cost at 10.573 d. per mile for
locomotive department, and 3.217 d. per mile for
carriage and waggon department, in comparison with
other metropolitan railways, they will appear high ;
but by it a very decided improvement has been made
in the condition of the whole of the rolling stock.
The report of Mr. Ashcroft, the superintendent of
way and works, states that the labour and materials
in renewals and maintenance has cost for the last
half-year at the average rate of 451. 10s. 91 per mile,
viz., in the renewals 2,172/., and in the repairs of
stations, warehouses, workshops, and other buildings,
7,1301. making a total of 23,9661. The permanent
way and works generally are in a very satisfactory
working condition. The one mile at Stratford that
is fish jointed and has been tested and worked over
more than two years, has been maintained at less than
301. per mile per annum, whilst the old road in the
same district between Stratford and Bishop's Stort-
ford has cost in labour for the same period 951.55. 6d.
per mile. Looking at the cost of labour in the Strat-
ford and Stortford district, he states with confidence
that by the adoption of the system now in progress
the company may realize, in saving of labour alone,
an annual sum of not less than 501. on every mile so
completed.
The capital account of the Eastern Counties Rail-
way to the 4th of July shows that 9,508,7371. had
been received, including 42,676/. for sale of surplus
property, and 9,605,6831 expended, leaving a balance
against the company of 96,946/. The bond debt ac-
count shows a total of 1,156,478/, of which
456 2781. was borrowed at 5 per cent., 457,100/.
at 4i per cent., 124,5001. at 4-1 per cent., and
118,600/. at 4 per cent. The permanent way re-
newal fund shows a total of 36,9501., of which
2,1721. was expended during the half-year, leaving
a balance of 34,777/. The amount set aside out of
revenue during the half-year for that purpose was
8,000/. The share capital account shows a total of
8,366,7601., of which 5,827,5021. consists of consoli-
dated stock, including bonus of 1,087,0031. The
guaranteed stocks amount to 2,539,257/. The calls
in arrear amount to 42,1921. The revenue account
for the half•year ending the 4th of July states that
366,921/. had been received, and 908,358/. expended,
including 11,2751. rates and taxes, and 7,1661. Go-
vernment duty, leaving a balance of 158,5631. From
this sum is deducted 152,9391., being the interest on
loans and guaranteed shares, leaving a balance of
5,6241. The earnings on the Norfolk Railway during
the half-year amounted to 53,2771., and the expendi-
ture to 38,7551, leaving a balance of 14,5221. The
Norfolk guarantees and loans amount to 28,7991., and
the interest on the rolling stock to 4,7331. The
balance to the credit of revenue for the half-year end-
ing the 4th of January, 1851, amounted to 24,6361.
Out of this is deducted 10,0371. in respect to acci-
dents, 2,769/. expended in appeals against parish
assessments, 1,6471. to Messrs. Quitter, Ball, and Co.,
and 10,0011. over-statement of earnings in revenue
account anterior to January, 1849.

EAST AND WEST INDIA DOCK JUNCTION.
The Blackwell branch of this railway, extending
from the junction at Bow to the eastern basin of the
West India Docks, is all but completed, and will be
opened in a few days for passenger traffic. A station
has been erected at Poplar in order to meet the re-
quirements of those re,ident in that district. A t pre-
sent they have to go round from Bow to Stepney.
The line. after crossing the Blackwell Railway, ex-
tends to the quays of the spacious dock the company
have been forming to the eastward of the warehouses.
They are of considerable extent, and will admit and
float vessels of large dimensions.