The Sun.
London, England, 1858-01-22 00:00:00

RAILWAY INTELLIGENCE.

LONDON, BRIGHTON, AND SOUTH COAST.
The directors of this company have just issued
their report for the past half-year. It states that
the amount of capital raised to the 31st Dec., 1857,
is 7,790,6151., consisting of 1,936,335/. mortgage
debt, 1,000/. debenture stock, 1,234,726/. prefer-
ence capital, and 4,618,5541. consolidated stock.
The total amount placed to the debit of capital
during the half-year has been 326/., making the
total capital expended 7,799,2581., and leaving a
balance of 742/. The directors have, however, found
themselves obliged to proceed with the altera-
tion of the Lewes Station and certain other works,
which could no longer be delayed without serious
injury to the traffic, and the amount of this outlet
has been placed to the debit of a suspense account.
The average rate of interest on the mortgage debt
does not exceed 4/. 3s. per cent. The gross revenue
for the half-year has been 431,361/. showing a di-,
minution of 2,211/, as compared with the corres-
ponding half of 1856, the tetal revenue for tie ye sr
1857 being, however, 780,5871. as compared with
776,251/. for the previous year. The filling off
during the past half-year is entirely in the goods
traffic, while the receipts from passengers show a
small increase. One item of increase during the
past half-year has been the traffic arising from the
West-end line, which was opened from the Crystal
Palace station to Wands worth-corninon on the Ist
of December, 1856. The improvement. in the local
traffic carried thereon has been rapid and contin-
ously progressive, the average number of passeneeis
to and from London-bridge alone now exceeding
7,000 per week, and the directors anticipate the
receipt of a considerable income as soon as that line
is completed and properly worked as a subarban
line. The number of miles run by the trains during
the half-year was 1,048,946 against 963,103 in the
corresponding period of 1856. The traffic receipts
(including cartage) for the half-year amounted to
419,1831. against 421,0791., and the total working
expenses and renewals (excluding cartage) amounted
to 180,8821. against 183,450/. at the corresponding
period of 1856. The ordinary expenses amounted
to 151,245/., end the renewals and additions to
29,637/. against 151,5101. ordinary expenses and
31,940/. for renewals and additions at the corres-
ponding period of 1856. The expenses per train
mile amounted to 3s. Wid. against 3s. 91d., the
per cent. on traffic receipts to 431 per cent. against
42i per cent., the cartage to 7,611/. against 8,3581.
end the total expense 188,4931. against 191,8081.
at the corresponding penis dof 1856, From a tabu-
lar statement in the report it appears the number
of passengers on the line for the year inct eased from
2,485,778 in 1848 to 7,241,077 In 1857, and the
passenger receipts from 349,9771. io 545,8351.; the
annual and season tickets from 10,4271. to 35,4761.
the parcels from 13,130/. to 18,479/. ; the r-ails
from 1,1971. to 1,2431.; the goods from 61,493/. to
133,733/. ; the cattle from 3,059/. to 4,046/. ; the
rents, wharf-earning, &c., from 5,5811. to
14,402/. ; and the gross revenue from 453,408/. in
1848 to 780,5871. in 1857. The working expenses
increased from 147,132/. in 1848 to 282,589/. in
1857; the taxation from 39,955/. to 51,693/. ; and
the total expenditure from 187,0871. in 1848 to
353,9551. in 1857. The preferential charges have
increased from 104,0411. to 148,176/., and the divi-
dend from 3/. 12s. per cent. in 1848 to 6/. per cent.
in 1847. Although only one locomotive and one
tender belonging to the working stock have been
broken up during the past year, yet the revenue
has again been debited with the cost of providing
five new powerful engines and t:•nders, and of re-
I building five of the old engines. In this manner the
number of working engines has since 1851 been in
creased, at the cost of revenue, from 112 to 124,
and no corresponding credit has yet been tlken for
the value of the 12 old engine-; which are still at
work. The whole of the main line between London
and Brighton has been relaid and fiA-jointed, and
the timber replaced where necessary by ore .swed
sleepers of the best quality. The principal portion
of the cost of this work has already been placed to
the debit of revenue. With regard to the extension
of the company's traffic, the director's state that the
accountinelotien at the London-bridge tertniuua has
been taxed to it, utmost capability, the number of
passengers, including season-ticket holders, who
passed through the station in 1854, when it was
enlarged, having been 5,178,341, while in 1857
they reached the extraordinary number of
6,062,716. This constantly-increasing demana upon
the capabilities of the station has been the subject
anxious consideration by the board, who are con-
se.oua that, although additional space is only oh-
come when a further enlargement must take place,
if the pressure should not be rt.lieved by the estab-
lishment of a proper West-end station. At the same
time it should not be f,rgotten that a gt eat portion
of the population residing west of Temple-bar can-
not, without some inconvenience, uncertainty, and
loss of time, reach London-bridge. Accordingly, the
directors, after mature consideration, accepted an
offer which was made to them by a company formed
for the purpose of constructing a railway commenc-
ing at the south side of the river at Battersea, cross-
ing the Thames, and terminating at the Grosvenor
Basin, situate at the end of Victoria-street, West-
minster. An examination of the plan will clearly
demonstrate the advantages which are certain to
result from occupying such a position, and that it
cannot fail to give a fresh impetus t o the traffic. The
outlay cannot be deemed large when compared with
the cost of the London-bridge terminus and ap-
proach, on which station alone no less than 470,000/.
have already been expended, while the approach
thereto over the Greenwich Viaduct (11 miles in
length) involved the payment of a toll which in
1847 amounted to 10,819/., and which, had it not
been commuted, would now have reached 27,000/.
per annum (or about 1-12 d. per passenger). The
arrangement made, subject to the sanction of the
proprietors, is that a bridge over the Thames, the
line of railway, and the necessary site for the tee -
minus shall be vested in this company, the pro-
moters reserving a right of way over the bridge and
the railway, for the purpose of constructing a sta-
tion on such portion of the site as will not be re-
quired by this company. It is further agreed filet
this company shall not be called upon to bear any
share of the preliminary, engineering, or Parlia-
mentary expenses ; and that, whatever may be the
eventual cost of the land and works, the property
stipulated for by this company is to be vested in
them in consideration of a contribution of 450,0001.,
with an annual payment of 1,5001 , and under no
circumstances is any further claim to be made upon
them. The net amount at the credit of the revenue
account, after providing for all preferential charges,
is 165,3911., out of which the directors recommend
the payment of a dividend of 34 per cent. for the
half-year, amounting to 161,G49/., leaving a balance
to the credit of the current half-year of 3,7421.,
and making the dividend for the year 1857 ainouut
to 8 per cent.