The Sun.
London, England, 1851-09-15 00:00:00

sou rn EASfERN.

The directors of this company have just issued their
report. It states that the receipts of the company for
the half-year ending the 31st of July, 1851, have
been 344,0241., and the working expenses, less the
amount charged on the fund for the reproduction of
rolling stock, 138,8991., in which amount is included
a sum of 5,8601., to be added to the fund for the re-
newal of permanent way. The rates and Govern-
ment duty amount to 26,9801., and the rents of the
Greenwich, Canterbury, and Whitstable, and Read-
ing, Guildford, and Reigate railways, to 43,3021.;
which sums, in addition to the interest on the mort-
gage debt and guaranteed stock of the company, and
a provision for bad debts of 1,1001., make a
total deduction from the gross earnings of
253,1391., leaving together, with the amount
of the credit of profit and loss, after pro-
viding for the last dividend, an available balance of
97,1051. A comparative statement of passenger
traffic on different portions of the railway, for the
half-year ending the 31st of July, 1851, as compared
with the corresponding period of 1850, shows that on
the main line and branches the increase in the number
of passengers was 103,481, and in the receipts
34,1921.; on the North Kent line, 347,899 passen-
gers, and in the receipts, 7,6101. ; on the Reading,
Guildford, and Reigate, 23,914 passengers, and, in
the receipts, 1,1481.; but there was a decrease in the
number of passengers on the Greenwich branch of
75,918, and, in the receipts, of 1,3481. In the goods
traffic during the same period there was an increase
on the main line and branches of 4,3341.; on the
North Kent of 1,3751. ; on the Reading and Reigate
of 2,211/. ' • together, 7,9211. The total increase in
the traffic for the last half-year, as compared with the
corresponding half-year ending the 31st of July,
1850, is 52,7951. The increase in the through traffic
to and from London and Folkestone and Dover
amounted to 23,4941.; the total receipts for the half-
year ending the 31st of July, 1850, having been
51,477/. ; while those for the same period
in 1851 amounted to 74,971/. ; but there was
a decrease in the through traffic to and from
London, Ramsgate, and Margate of 5921., the total
receipts for.the last half-year being 10,822/.,as against
11,4141. iu 1850. The total increase in the through
traffic during the half-year amounted to 22,9011.
Since the Ist of May last a special service has been
performed daily between London and Paris by tidal
trains, in correspondence with the steam-ships of the
South-Eastern and Continental Steam-packet Com-
pany, alternately by Folkstone and Boulogne, and by
Dover and Calais; the former journey being per-
formed in eleven hours and the latter in twelve hours,
when no unusual delays take place at the Custom-
house. This service gave so much satisfaction that
a second tidal service—viz., one by night—has been
established since the Ist of August. Every disposi-
tion has been shown by the Board of Customs to
facilitate the speedy examination of baggage both at
Folkestone and Dover. In completing the company's
terminus at Dover, the directors have provided a large
and commodious examination-room, which has been
placed at the disposal of the Board of Customs, and
will tend to remove all ground of delay and complaint.
What is required, however, to facilitate the traffic
between Paris and London, now conveyed in eleven
hours, is, that the baggage of the passengers making
the express journey from one capital to the
other, without stoppage, should be registered and
placed in the control of the railway company at
Paris for through transmission to London ; thus
allowing It to ne moved in bulk, and with celerity,

the steamships, and in like manner to bninded
placed in, the railway carriages at Folkestone and
Dover, to be claimed in London only by the owners
when examined by the officers of the revenue. A
similar arrangement has for some time existed in re-
gard to the traffic from London to Paris. The direc-
tors applied, in conjunctio❑ with the directors of the
Northern of France Railway, to the Board of Cus-
toms and the Lords of the Treasury to sanction ar-
rangements for the examination of baggage at the
London-bridge terminus. The permission of the
Lords of the Treasury has at length been given to
the measure, but in a restricted meaner. The rail-
way from Tonnerre to Dijon opened in July, com-
pleting the railway communication from Paris to
Chalons, and reducing the time occupied in the
transit from London to Marseilles from sixty-one
hours to forty-nine hours, and enabling the whole
journey to be made by railway and steam-boat.
First-class through tickets between London and Mar-
!seines are now issued for 6/. The amalgamation
between the Northern of France Railway and the
Boulogne and Amiens Railway Companies, cannot
fail to be beneficial to the South-Eastern Company.
The portion of the Tunbridge Wells and Hastings
line from Tunbridge Wells to Robertsbridge, 15i
miles, was opened for traffic on the Ist of September.
This comprises the most expensive section of the line.
From Robertsbridge to Whatlington, four miles, the
tunnels, earthwork, and brickwork are complete, and
a single line laid. It is expected that the whole line
may be finished and opened for traffic by the
middle of November. The directors have made
terms with the directors of the Brighton Company,
to prevent competition for the London and Hastings
and St. Leonard's traffic. The permanent way and
works of the company are in good order. The Lord
Warden Hotel at Dover is already completed, and
ready for occupation. In the course of the half-year
twenty new engines and 40 new carriages and wag-
gons have been added to the company's working stock
at a cost of 65,4811. ; of this sum, 38,0871. has been
charged to capital account, the balance, 27,3941., has
been provided from the renewal fund. The South-
Eastern Company are under agreement with the
Reading, Guildford, and Reigate Company, to apply
to Parliament in the ensuing session for leave to
amalgamate the two companies. The effect of the
amalgamation would be, to relieve the South-Eastern
Company of an annual payment of 3001. for the office
expenses of the Reading, Guildford, and Reigate Com-
pany. During the half year 22,1111. has been re-
ceived of arrears of calls, 143,4371. remaining due.
The directors recommend a dividend to be declared
for the last half-year of Bs. per share, which, with the
dividend of lOs. per share for the preceding half-year,
will make a dividend for the whole year at the rate of
3 per cent. per annum on the consolidated stock of the
company. The directors do not, regard the increase
which has taken place in the continental traffic dur-
ing the six months ending on the 31st of July as in any
way extraordinary, or to be attributed solely to the
Great Exhibition. On the contrary, they are of
opinion that the facilities which have been established
will insure a still further development of continental
traffic by the South-Eastern Railway, and will prove
of permanent benefit to the company.

The report of Messrs. C. Child, J. Morgan, and T.
Browne, the auditors, states that they have audited
the accounts,:and find them correct. The balance at
the credit of the reserve fund for rolling stock on the
31st of January, amounting to 34,6401., has been ap-
propriated by the directors in the following manner,
viz., 7,2451., to meet the expenditure that has taken
place in the renewal of the rolling stock (which by
so much increases the amount available for dividend),
and 27,3951. in reduction of the sum chargeable to
the account of capital for new engines and carriages
purchased during the half-year. They propose to
attend at the company's offices on Wednesday next,
between one and three o'clock, to afford any ex-
planation with regard to the accounts that may be
required by individual proprietors.
The capital account to the 31st of July, shows that
9,967,8591. had been received, and 9,911,301/. ex-
pended, viz., 3,556,608/. on the main line and Brick-
layers Arms extension; 2,731,4221. on the North
Kent, Greenwich branch, and London station en-
largement ; 198,958/. on the Folkstone harbour and
branch ; 610,1531. on the locomotive department ;
189,948/. on the Maidatone branch ; 868,387/. on the
Ashford to Canterbury, Itamsgate, Margate, Whit-
stable, and Deal branches; 241,958/. Ashford station
enlargement ; 292,510/. Tunbridge Wells branch ;
679,480/, Ashton, Rye, and Hastings branch, and
541,874/. on the Tunbridge Wells and Hastings
line, leaving a balance in hand of 56,5581. The
debenture account shows that 2,007,1251. had
been borrowed up to the 31st of July
last, of which 336,1151. was at 5 per cent.;
907,1501. at 4 per cent. ; 226,5301. at:4l per cent. ;
253,330/. at 4 per cent., and 284,000/. fit 3} per