The Sun.
London, England, 1858-02-06 00:00:00

RAILWAY INTELLIGENCE.

LONDON AND - SOUTH-WESTERN.
The directors of this company have just issued
their report. It states that the net revenue for the
half-year, after &ducting interest on loans and all
other preference charges, amounts to 194,7551. To
this is added 8751., the surplus at June last, making
195,6301. From this sum the directors propose that
a dividend shall be declared for the half year, pay-
able on the 20th inst., at the rate of 51- per cent.
per annum, which ou 7,176,970/. of paid-up capi-
tal amounts to 188,3951., leaving a balance of
7,2341. There has been a decrease in the gross
revenue of the half-year of 42,2961., as compared
with the corresponding period in 1856, and in the
net revenue of 38,8701. There has been a decrease
of 2,3171. in the working expenses, and of 1,1091. in
taxation. The dtcrease in the receipts for passen-
gers amounted to 32,1481. for goods, to 10,6871., as
compared with the corresponding period. The above
decrease has arisen chiefly from the exceptional
character of the traffic in the year 1856, in conse-
quence of events connected with the Russian war.
In preparation for the working of the Salisbury
and Yeovil line, a portion of which it is expected
may be opened for traffic during the present year,
and also for the working of the Lymington branch,
a nanaleer of new engines and carriages are in oourso
of construction,
expended
on
andrd to accountear ieo f
capitalwhich
16,0841. have
been account.
Three new engines have been completed out of
revenue and added to the stock during the half-
year. Tho doubling of the first portion of the
Southampton and Dorchester line has been com-
pleted, and was opened for traffic in October last.
The Board of Trade have since called upon the com-
pany to double the remaining portions of the line
between Beaulieu-roal and Brockenhurst and
Christchurch-road and Ringwood, nearly 11 miles,
and the work is now in progress. When

finished there will be a complete double live, 36
miles in length, from Southampton to Wimborne.
These works have hitherto been carried out, and
are still in progress, under the management of the
company's resident engineer, by which there is a
considerable raving in expense, and a more efficient
execution of the work is secured. The charges
carried to capital account in the way and works
department amount to 9,0651. for the past half-
year. This sum is made up by the cost of erecting
a number of cottages, which were absolutely re-
quisite for the accommodation of the servants and
workmen of the company at the various stations on
the line, and by the erection of several new station-
houses
and buildings, a new engine-shed at Wey-
mouth, and additions to siding and platforms for
the better accommodation of the traffic. The
cottages are all let at rents which afford a remune-
rative return on the capital expended on them.
Among the projects for new railways in the South-
Western district they notice the intended construc-
tion of a railway along the lice of the Andover
Canal, from Andover, by the Valley of the Test,
through nonasey, to the head of the Southampton
Water at Redbridge. As new projected it can add
little or nothing to the public convenience, and
must prove utterly unremunerative to its proprie-
tors and injurious to the company. The directors
cannot doutA that, if sanctioned by Parliament,
this scheme would at no distant day form the
nucleus of a larger and more direct aggression
of the company's district ; and, locking as well
to the intrinsic justice of the case as to the suc-
cessful result of the company's oppposition to
the Salisbury and Southampton line of last year,
and the unequivocal declaration of Parliament on
that occasion against any reduplication of the rail-
way accommodation of that district, the directors
recommend that the company should not fail to
apply to Parliament for protection against the most
unnecessary project.
Mr. Errington, the company's consulting engi-
neer, states that more than 60 miles of the line re-
main still in use, after from 18 to 20 years' service;
and so good has been the quality of the iron and
the system of the road that 25 miles out of the 60
have been in use upwards of 20 years, and a con-
siderable portion will be efficient for several years to
come. From the careful supervision exercised, he
is satisfied that the line is uniformly kept up in a
proper state for the requirements of the traffic.
The report of Mr. J. Beattie, the locomotive
superintendent, states that the cost of maintaining
and working the stock of locomotive engines and
tenders during the past half-year has been 55,5681.,
and the train mileage 1,549,2321., giving 8.61 d. as
the rate per train mile for the working expenses of
the locomotive department ; this figure includes the
amount expended in the construction of three
powerful goods engines and tenders. which will take
the places of a similar number when they are unfit
for further service. The expenditure in the car-
riage department for maintaining and up-
holding the carriage and waggon stock has
been 10,6241., or 1.64 d. per train mile.
The expenses of both departments amount to
66,1921., or 10.25 d. per train mile, as com-
pared with 66,6521., or 10.69 d. per train mile
of the corresponding prricd of last year. The
locomotive engines and tenders are in efficient con-
dition, and the stack of carriages and waggons has
been maintained in good working order, several
alterations and improvements having been main-
tained therein. The capital account showed that
9,506,225/. had been received, including 2,502,0361.
on loan, and 9,603,406/. expended, leaving a balance
against the company of 97,1811. The revenue ac-
count for the half-year ending Dee. 31 last showed
that 445,860/. had been received and 193,5751., or
44.61 per ced;., expended, including 21,911/. for
Government duty, rates, and taxes, leaving the
balance of net revenue 252,2851.