The Sun.
London, England, 1867-02-22 00:00:00

RAILWAY INTELLIGENCE,

_~.

SOUTH-EASTERN.

The sixty-first half-yearly report of this com-
pany states that the gross receipts for the half-year
ending 31st January amounted to £704,212, being
a diminution as compared with the corresponding
period of last year of £6,858. The ordinary work-
ing expenses amounted to £297,090; the rates, taxes,
tolls, and Government duty to £46,084 ; and the
expenditure on the steam packet service to £15,347,
making a total of £358,521, or an increase of
£17,620. The balance available for dividend on
the ordinary stock, after making provision for all
fixed charges, was £116,374. This would pay a divi-
dend of £3 per cent. per annum, and leave a balance
of £1,827. The directors recommend a dividend at
this rate payable on the 15th March. The number
of passengers conveyed in the half-year was
£8,628,715, against£B,262,B6B in the corresponding
half of last year, showing an increase of £365,847.
The total receipts for passengers amounted to
£442,974, against £448,373, showing a decrease of
/5,399. The Continental war, the cholera both at
home and abroad, the severe winter, and the excep-
tional state of financial affairs in this country, toge-
ther with the deficient crop of hops and other pro-
duce, had all combined in an eminent degree to
deprive the company of an increase of traffic,
which, under ordinary circumstances, they were jus-
tified in anticipating. In adverting to the loss of
traffic by the unprecedented storms, and the block-
ing up of many parts of the line by snow in the
month of January, the directors added that not only
was the running of the trains on some portions of
the railway almost suspended, but very heavy ex-
pense was incurred in restoring the line to an effi-
cient state of working. The expenditure incurred
in working the line showed a comparative increase
of £16,384. Of this sum £lO,OOO arose in the loco-
motive department, and was attributable to larger
renewals in order to be ready for the Exhibition
traffic, to the increased train mileage and higher
rate of wages, and in part to the embarrassments
above alluded to. Substantial repairs to the steam-
ships, so as to render them in all respects equal to
the important service which would be required
of them in the coming summer, had involved the ad-
ditional outlay, as compared with the corresponding
half-year, of £2,145. The heavy charges for poor
and other parochial rates, under which head appeared
the large increase of £7,246, was ascribable to the
heavy assessments in the metropolitan districts ; but
the directors hoped by vigorous measures to lessen in
future years those undue demands upon the earnings
of the company. The directors, in the capital account
of the last half-year, had, charged to revenue the
dividend and interest on the whole of the capital
raised for the purposes of the Charing-cross and
City Terminus lines, notwithstanding the still unde-
veloped state of the traffic. Interest had likewise
been charged to revenue on the outlay for construct-
ing the portion of the line from Lewisham to Dart-
ford. On the Dartford capital the full interest had
been charged as fronithe Ist of Semptember, and on
the Cannon-street capital as from the Ist of Oc-
tober last. The report stated that the following
heads of agreement had received the sanction of
both boards :—" Heads of agreement between the
London, Brighton, and South Coast and the South-
Eastern Railway Companies, for the division of
traffic at competing points on the respective lines.
1. The two companies agree not to prosecute any
further competing scheme the one against the other.
2. The two companies agree to divide the traffic of
all places at which they now compete, and to co-
operate in developing the traffic of such places by
complete facilities at remunerative rates, and by an
economical re- arrangement of trains. 3. The propor-
tion of the traffic due to each company shall be
settled between the parties, or, in case of non-agree-
ment as to any place, by arbitration. 4. The
allowance for terminal accommodation and services,
and for working expenses due to the company which
may carry the excess for the time being, shall also be
settled as above." The capital account showed that
£17,924,672 had been expended, leaving a balance
against the company of £391,461.