The Sun.
London, England, 1867-01-12 00:00:00

RAILWAY IN rELLIGENCE.

_ -
MANCHESTER, SHEFFIELD, AND LINCOLNSHIRE

The report of the directors of this company states
that the accounts for the past half-year show a total
revenue from all sources of £593,346, a total expen-
diture of £251,236, and a balance of net profits of
£342,110, whichovith the balance of £1,486, brought
forward from the previous half-year, made a total
sum of £343,596 available for iuterestand dividend.
With regard to a special item of available revenue
not included in the above, the report states that in
the year 1854 a contract was made in the interest
and on behalf of the company by four of thedirectors
with the Birley "Vale Coal Company for a supply of
coal for sale on the line, at fixed prices, the Birley
Vale Company undertaking to lay out a large capital
in sinking new pits upon the railway. For the se-
curity of the directors committed to this contract,
which could not legally be entered into by the com-
pany, an addition was made to the contract price
of the coal of Is. per ton, and carried to a separate
account. The amount was invested in securities,
which had now been realised, and there stood at this
date to the credit of that account £17,861, which
the directors now recommended the proprietors to
carry to the credit of net revenue. The debenture
and other interest chargeable against the revenue of
the half-year amounted to £81,411, the canal an-
nuities to £14,142, the dividends on the various
classes of preference stock and shares to £104,698,
and the South Yorkshire interest and dividends to
£64,477, making a total charge against the above
net balance of £264,728, leaving a balance of
£78,868, out of which the directors recommended a
dividend at the rate of £3 per cent. per annum on
the ordinary stock of the company, carrying forward
the large balance of £12,982 to the next account.
The dues,wharf age, &c. , at Grimsby Docks amounted
, during the half-year, on a tonnage of 424,913 tons,
, to £6,138, against 401,378 tons and £6,598, show-
ing an increase of 23,535 tons and a decrease of

£460 as compared with the corresponding half of
1865. The company's share of the net profits of
the South Junction Railway amounted to £9,496,
as against £11,032 in the corresponding period of
last year. The working expenses in the past half-
year amounted to £229,119, against £215,603 in the
same half of 1865, showing an increase of £13,516,
chiefly in the locomotive and traffic expenses. The
expenditure on capital account during the half-year
amounted to £248,280, of which £75,670 was for
contributions to joint lines, £145,753 for works and
stations, and £8,988 for rolling stock. This was
exclusive of the ‘Vest Riding and Grimsby issue of
ordinary stock. The Trent, Ancholme, and Grimsby
Railway was opened on Oct. 1 last for local traffic.
The amount of £472,500 of the consolidated stock
of the company was issued to the proprietors of the
West Riding and Grimsby undertaking, 281 miles, in
purchase of one-half of their interest therein (the
Great Northern Company taking the other half), in
accordance with the Transfer Act, 1866. This com-
pany's proportion of the net revenue earned by the
West Riding line was 14,623, for the half-year, or £2
per cent. per annum on the £472,500 of stock which
might be considered satisfactory as a commencement.
The persistent efforts made by an organised party
of speculators to depreciate all railway property by
the circulation of unfounded reports, in the opinion
of the directors, required that the fullest explana-
tions between directors and proprietors should be
exchanged at the earliest possible dates, and that
railway boards should set an example of moderation
and prudence by discouraging for the time all new
outlay of capital, thereby giving to the railway sys-
tem that period of rest which alone was required in
order to raise dividends to their maximum amount.
All uncertainties as to priorities or the rights of dif-
ferent
byashareholders generally should be
rendered simple declaration in an
act of Parliament of the actual capital of each classes
impossible
of
com-
pany, in its proper order as at the moment raised,
and as authorised to be augmented. If railway
boards would follow these simple rules, and if Par-
liament,after the lessons of last year, would dis-
courage the waste of national resources in under-
takings not likely to be remunerative, that portion
of the railway system which was intrinsically sound
and solid property would again take its proper
rank in the public estimation. The capital account
showed that £11,983,269 had been expended, in-
cluding £720,780 during the past half-year, leaving
a balance of £205,326.

VICTORIA STATION AND PIMLICO.
The half-yearly general meeting of this company
was held yesterday at the offices, Westminster-
chambers, Victoria-street; Mr. IV. Lee., M.P., in
the chair.

Mr. E. Bellamy, the secretary, read the report,
which stated that the revenue account for the six
months ending Dec. 31 admitted of the payment of
the same dividend as that of preceding half-year—
namely, 31 per cent., or at the rate of 7 per cent.
per annum. The very large outlay recently in-
curred by the Brighton, the Great Western, and
the London, Chatham, and Dover Companies in
making the new approaches to the Victoria station,
both north and south of the Thames, and in widen-
ing the bridge and the approaching connection of
the Victoria Station with a station to the Metropo-
litan District Railway were calculated to place the
maximum aggregate rental of £33,125, commencing
on the Ist of April next, in the highest class of free-
hold ground rents. The directors were taking steps
debenture stock, and they had c
to place the remainder of the
perpetual 4f per cent.
a security would be readily taken up. The directors
congratulated the proprietors that during a period
of unexampled commercial distress and of especial
distrust in all descriptions of railway property, the
position of their undertaking and the price of the
stock had remained unchanged. The capital account
showed that £481,426 had been expended, leaving a
balance of £13,337. The revenue account for the
half-year ending the 31st of December showed that
the rentals amounted to £15,270, and the balance
from the preceding half-year to
I,Bss—total,
£17,125. The interest on loans and preference
shares and expenses amounted to £6,455, leaving
a balance of £10,669.

A company has been formed at Montreal, in-
cluding large capitalists, who intend to apply to
Parliament during its next session to dam the river
St. Lawrence at La Chine Rapids for the purpose
of obtaining hydraulic power. The capital proposed
by the company is to be $2,000,000.
LADVERTISEMENT.] - Holloway's Pills. Winterly
Drawbacks.—Whence fogs spring or whither they retire it
is not our present purpose to explain ; Ivo desire to point
out how their ill effects on the human frame can be neu-
tralised. The blood must be freed from superfluous carbon
and mephitic taints by some purifying medicine like Hol-
loway's Pills, which not only thoroughly cleanse the circu-
lation, but adjust in every organ the defects imposed upon
it by that fluid when it has become foul or sluggish. These
pills prevent stagnation, congestion, and are the bust regu-
lators stud preservatives against internal inflammations,
irritations, and'ulcerations; while expelling morbid matters
from the system, they cool it by their gently aperient ac-
tion, and strengthen it by
their tonic virtues!