The Sun.
London, England, 1858-08-27 00:00:00

dually teing established by means of these trains and the
Mid-Kent trains, between the North Kent line and the
Castel Palace, so that residents at Lewisham, Blackheath,
Woolwich, Gravesend, and other places on that line, will be
able to visit the palace without g dog to London. A very
large population, who have much felt the want tf proper
•actiities in this respect, will thus be accimmociated, and a
considerable traffic may be expected from this source.
Since the close of the last half-year it became necessary, in
order to meet several pressing claims, for the directors to
dispose of the remainder of the forfeited shares. They re-
gret to say that a loss was unavoidably incurred in
the transaction, but the company's credit was at stake, and
it was, thought oe-t to adopt this mode cf meeting the ha-
t ilities. The registers are now practically clear, and the
directors will take au early opportunity of requesting the
sanction of the proprie ors to the conversion of the shares
into stock. The arrangement with the Brighton Company
for the commutation of one half of the £B,OOO a-year pay-
able by them for the use of the line for their long traffic, for
a capital sum of £BO,OOO has been carried into effect since
the close of the hatt-year—for which reason it does not ap-
pear In the accounts. By the completion of this arrange-
ment the six per cent. stock, which was issued to the con-
tractors from time to time, has been released, and will be
offered to the proprietors as soon as the directors see
a favourable opportunity. The directors have to congratu-
late the proprietors on the results of the past session. The
East Kent Company have obtained the act for their Western
extension from Strood to St. Mary Cray, and the directors
understand that the works are already under contract,
and that it is the intention of the East Kent Company to
complete their undertaking as rapidly as possible. The di-
rectors have before pointed out the importance of this line
—securing, as it will, to this company the West End con'i-
nental traffic of Dover, and that of the principal watering
places on the Kentish coast; and they are happy to state
that an agreement has been entered into between the com-
panies for the passage of the traffic over this line, on terms
that will practically secure to this company an annual
revenue at least equal to the Brighton toll. The Act
for the Victoria Station and Pimlico Railway was
also carried successfully through both Houses of Par-
liament, and the works will, the directors believe,
be commenced immediately. The company's bill for
the extension of time for the completion of the Farnborough
extension was also passed. The negotiations with the
South-Eastern Company have been continued, and the
directors hope that arrangements which are now pending.
will shortly result in the use of the line by that company
fir their long traffic. at conclusion, the director.: trust that
they may ennerat< —• . oprie4ors on the prospects of
the company. It has, during the five years of its existence,
passed through a period of great commercial pressure, and
has had to contend with difficulties of no ordinary nature.
Now, however, with the line at length open throughout, a
largo and gradually increasing traffic, fixed working ex-
penses, and important traffic agreements, the directors see
every reason for the fullest confidence in the future, and in
the remunerative value of the undertaking."
The capital account shows the receipts to have been
£677,239, and the expenditure (including a loss of £7,200
on the sale of shares)£673,3Bo 17s. 11d.' leaving a balance
of £3,858 2s. ld. On revenue account the total receipts for
the half-year have been £10,301 13s. ld., and the expendi-
ture £8,670 2s.—showing a balance in favour of the com-
pany of £1,631 lls. ld.