The Sun.
London, England, 1856-08-22 00:00:00

EASTERN COUNTIES.

The following is the report of the directors of this I
company, to ho submitted to the half-yearly meeting
of the shareholders on Friday next :
Your directors, in submitting their half-yearly state-
ment of accounts, have to report that the total receipts of
the company aro 628,939/. 9s. 4d., and the expenses, in-
cluding interest upon mortgage debt, &c., 463,4161. 19s. ;
for the corresponding half-year the receipts were 596,609.
2s. 6d., and the expenses 422,5411. 9s. ld. After deducting
payments to the Norfolk, Eastern -Union, East Anglian,
Groat Northern, and Blackwell Railway Companies, infe-
rest on the Newmarket and Bury capital, the Newmarket
Line purchase, Harwich lease, and new works under agree-
ment, &c., there remains a balance of 32,631/. 9s. 9d., as
divisible amongst the ordinary shareholders of the com-
pany. This snm will enable the proprietors to recommend
a dividend of 2s. per share, carrying forward 3,4631. Bs.
2c1., which, if so decided, will be declared by the board,
who have considered it desirable not to declare any divie
dend except authorised by the proprietors, as upon the
two former half-yearly meetings the shareholders decided
upon taking the dividend declared by the directors. whilst
declining to paws the accounts. The balance of 5,8681. 12s.
4d. remaining after the payment of the dividend for the
half-year ending 31st December, 1855, has not been. added
to the surplus balance at the suggestion of the auditors,
who considered it desirable that this sum should be re-
tained to meet any claims arising out of that half-year's

account.
The augmented charge for interest of 3,161/. Os. 103. is
much larger than it would otherwise have been, ottring, in
part, to the difficulties in which the company was placed
by the then agitation, and adverse reports, which, affect-
ing their credit, necessitated the coLipany paying bigh
rates of interest fur temporary loans. The wingborro
powers of the company having now Leen clearly define d by
Parliament, and the security of the company being am ple,
this item of charge will in future bo reduce.!. The it ter ease
in the working expenses of the company your dir ors
deeply regret ; this results almost entirely from the state
of your permanent way and works, for not only LIT o the
charges under this head in excess of the correspo riding
half-year by 18,4511. ns, 91., or about GO per cent., blt the
expenditure for extra guards, pointamen, and poll e,
consequence of the extensive reparation to the roe. I, hat.
added largely to the general expenees welling the line.
As the repairs, however, upon the -main line are now
rapidly approaching completion, this extra expenditt 'xe is
in course of reduction.
It will be observed from the accounts that there heal t
an expenditure in renovation and improvements of • the
permanent way during the half-year of 79,999/. 9s. .sd.
The report of your engineer, Mr. Bruff, briefly sots i •th
the main features of these improvements. Your dire. :tors
regret that they are net able to give a more detailed I ;tate-
meut of this expenditure, in consequence of the dang erous
illness of their chief engineer, but considering that so large
an expenditure has taken place this half-year undo kr the
head of maintenance of permanent way, your dire e tors
have placed the whole of this amount for the prase rut to
the Depreciation Fund, purposing to credit that at count
with 15,0001. in the current half-year's accounts. 'Li will
be in the recollection of the proprietors that the I turn of
15,0001. per annum was the amount originally stated ar an
annual payment out of revenue to 'meet Mr. Bruff 's
mate of the requirements to place the permanent w: by in an
efficient state, Up to the dole of this half-year 1 51,0271