The Sun.
London, England, 1867-08-14 00:00:00

RAILWAY INTELLIGENCE.

MIDLAND.
The report of the directors of this company states
that there had been an increase in all descriptions
of traffic upon the railway for the past half-year ;
the receipts, compared with those of the correspond-
ing period of 1866, showing the following result,
viz. :—An increase from coaching of £25,816; from
cattle of £7,349 ; from merchandise of £2,840 ;
from minerals of £24,677 ; total increase, £60,682.
The gross amount of the traffic for the half-year was
£1,365,853, to which had been added £74,787, taken
from the balance due to revenue from the amounts
received from the Great Western Railway Company
under Mr. Phipson's award, and from English and
Scotch trallic obtained under the decision of the
Court of Chancery, which had not been in,Auded in

the weekly traffic returns.
The working expenses of the half-year had ex
ceeded those of the corresponding period of 1866
The excess had arisen partly from the payment out
of revenue for the reconstruction of the Apperley
Viaduct; for the repairs to other works damaged
by the floods which occurred during the autumn of
last year, from the increased expense incurred in
working the traffic over the lines of other compa-
nies, during the interruption occasioned by the fall
of the viaduct referred to, and by the great
landslip at Bugswortb, which occasioned the
closing of the new line to Manchester after
it had been opened for goods traffic, and to the
continued advance in the cost of labour and mate-
rials. The balance available for dividend was
£500,034, including £6,551 from the previous half-
year. The directors were enabled to recommend I
the declaration of the following dividends, less in-
come-tax, payable on the 2d day of September next :
£2 15s. on each £lOO consolidated stock; £2 is. 3d.
on each £lOO consolidated Birmingham and Derby
stock ; £3 upon each £lOO consolidated preferential
stock ; £3 upon each £lOO consolidated Erewash
Valley stock ; £2 ss. upon each £lOO consolidated
41- per cent. preferential stock ; £2 upon each £lOO
Leicester and Hitchin preferential stock ; £2 ss.
upon each £lOO consolidated irredeemable 4f per
cent. preferential stock, together with dividends of
5 per cent. per annum on the A and B stocks and
other stocks. The dividend recommended was less
than that declared for the corresponding half-year
of 1866. This diminution had been occasioned
chiefly by the continued large outlay upon new lines
and works not yet productive, the amount under
this head during the half-year having reached about
£5,000,000. The B,owsley and Buxton Extension
to New Mills was reopened in February last, the
traffic was progressing satisfactorily, and on the
completion of the company's merchandise and mine-
ral station in Manchester a large increase of traffic
would no doubt accrue. The Furness and Midland
Railway was opened in June last, and already a
considerable traffic has been exchanged. Although
the bill for the amalgamation of the Midland and
Glasgow and South-Western Railway Companies
received the sanction of the House of Commons after
a prolonged investigation, yet the Committee of the
House of Lords, to whom it was referred, came to a
resolution "that it was not expedient to proceed
further with the bill." Much as the directors
regretted the loss of the bill on that occasion,
they believed that it was only a question of
time as to when the companies would be thus closely
united. The directors had negotiated an agreement
with the Metropolitan Railway Company for the
use of the railway between the St. Pancras branch
of the Bedford and London Railway and Moorgate-
street, including the stations at King's-cross, Far-
ringdon-street, Aldersgate-street, and Moorgate-
street. The object of the agreement was to enable
the Midland Company to run its own trains to the
heart of the city of London, and to connect the
Midland system with other railway companies south
of the Thames, and with the meat and poultry
market at Smithfield. The terms for the use of the
railway were a mileage proportion of the passenger
fares, 9d. per ton for goods, and 4d. per ton for
minerals up to 50,000 ; 3d. per ton for every ton
beyond 50,000 tons in any one year ; the receipts
from the traffic to be not less in amount than £l,OOO
for the first year, £5,000 for the second, £6,000 for
the third, and £7,000 for the fourth and subsequent
years. The rent of the Moorgate-street station was
to be £l,OOO for the first year, £4,500 for the second
year, £5,000 for the third year, and £6,000 for the
fourth and subsequent years. The rent for the use
of all the other stations was to be £5OO per annum,
subject to revision at the expiration of three years,
and to cease if the Midland Company ceased to use
those stations.