The Sun.
London, England, 1867-02-09 00:00:00

CAUTION.

PILLS. --- -----
Be sure and ask for "NORTON'S PILLS," and do not be
persnsded to purchase any of the various imitations which
chaaospliruirzup in consequence of the success of NORTON'S

RAILWAY AND OTHER COMPANIES.

LONDON AND SOUTH WESTERN.

The report of the directors states that the balance
available for dividend, including £BlB surplus from
June last, amounted to £176,986, out of which the
directors recommended a dividend at the rate of 4i
per cent. per annum, payable on the Ist of March,
leaving a balance of £2,224. The severe monetary
crisis and the prevalence of cholera in several locali-
ties had affected the receipts. The traffic during
the past summer and autumn months had not been
satisfactory, and the increase of revenue, which,
judging from past experience, would have been ob-
tainedunder ordinary circumstances, had not been
realized. The restrictions in the home and foreign
cattle traffic, which had not as yet been wholly re-
moved, had partially, and in some instances entirely,
stopped a considerable source of revenue to the rail-
way. Notwithstanding the peculiar adverse cir-
cumstances of the past year, the gross receipts of
the company had been the largest yet obtained.
The total receipts for the half-year ending December
31 amounted to £807,499, against £787,143 in the
half of 1865, showing an increase of £20,356.
The increase in the working expenses was £23,030,
and in the taxation £7,324 —together, £30,354.
The not revenue amounted for the half-year to
£390,778, against £400,776 in the corresponding
half of 1865, showing a decrease of £9,998. With
regard to the increase in the working expenses, the
advance in the rate of wages and the increased
cost of materials had tended to swell the
amount, notwithstanding that reductions had
been made wherever practicable in the
number of mechanics, porters, and other
servants. The increased expenses for the mainten-
ance of the railway and stations arose partly from
the relaying account being charged with £6,000
additional. The increase in the expenditure of the
locomotive and carriage departments was principally,
caused by more extrnsiva renewals of engines, car-
riages, and waggons. Revenue had also been charged
with the whole amount standing at the debit of corn-
pensatiOn account, inclusive of the sum of £11,154
remaining unpaid last half-year, so that all the
charges arising from aceidentP, damages to goods,
or from other causes, up to the present were disposed
of. The double line between Salisbury and Exeter
would be complete on March 1. The mortgage debt
and
_debenture stock of the company were, by the
company's recent return miller the Railways Securi
ties Act of last session, proved to be within the ag-
gregate amount. The directors strongly recommended
the proprietors to invest the board with full discre-
tionary powers for completing very important ne-
gotiations with the broad gauge companies for the
establishment of peaceful relations between the co►n-
panies on principles which the directors trusted
would be beneficial alike to the public and to the
companies concerned. The proposed arrangements
would provide for interchange of traffic between the
several systems, and the opening of the broad gauge
lines south and west of Exeter to this company, and
the lines of this company west of Exeter, as well as
those of the Devon and Cornwall and Central Corn-
wall Companies open to the broad gauge companies,
with through booking and equal rates. The capital
account showed that£ls, 629,570 had been expended.