The Sun.
London, England, 1866-02-14 00:00:00

LONDON AND NORTH-WESTERN.

The directors in their report state that they have
again to congratulate the proprietors upon the con-
tinued improvement in the traffic receipts. As com-
pared with the corresponding period of 1864, the
amount received for passengers, goods, minerals,
and cattle have been as follows :—Passengers, &c.,
receipts, £1,496,696 ; goods, mineral, and cattle
receipts, £1,678,981—t0ta1, £3,175,677. This addi-
tion to the receipts admits of a dividend at the rate
of 71 as against 7 per cent. per annum in February
last year. The Central Wales line from Knighton
to Llandrindod, a distance of 19f miles, was opened
for public traffic on the Ist of December last, and is
being worked under an agreement for which Parlia-
mentary powers and the sanction of the shareholders
have already been obtained. The directors regret
to report that the bills introduced this session of
Parliament affecting the company are as numerous
as in any previous year. They have been considered
by the board, and their progress in committee will
be carefully watched. Against some of them it will
be needful to petition ; but where practicable the
directors will endeavour to protect the company's
interests by friendly arrangement rather than by
Parliamentary contest. The bills promoted by the
company are not of an extensive character, and
do not involve the construction of lines in new
districts, but only of such short branches and
enlargement of existing stations and works as the
rapidly-increasing traffic and the requirements of
the public imperatively demand. The bills contain
the necessary Parliamentary powers for authoris-
ing additional capital to be raised for these new
works. The bill for a line between Halifax
and Huddersfield, to be constructed jointly with
the Midland Company and parties locally interested,
which failed on standing orders last year, has been
re-introduced this Session. The directors have pro-
moted a bill for the transfer of the Whitehaven
Junction and Cockermouth and Workington lines.
The total liability is small, while the traffic thus se-
cured is important, and passes for a considerable
distance on the main line. The advantage of a con-
nexion with the extensive coalfields of Leicestershire
and Derbyshire has been frequently urged upon the
notice of the board, and, finding that independent
parties have in this session of Parliament deposited
bills for this object, the directors will consider what
steps it would be most advisable to adopt in support
of such lines as offer the company access to the dis-
trict. The directors, in
conjunction with several
influential gentlemen in Sheffield and the locality,
considering it essential that a railway between Bux-
ton and Sheffield should be constructed, had the
country surveyed and plans prepared, but the esti-
mated cost of the line as laiddown ultimately proved
greater than they expected, and it was therefore
deemed unadvisable to proceed with the measure in
the present session. Assured, however, that a com-
munication is needed, alike for local requirements
and for the furtherance of the general interests of
the company, and that it can be obtained at a mode-
rate cost, the directors have pledged themselves to
promote in the next session a revised scheme of ef-
fectingln announcing to the pro-
prietorsththeesereosbigjtsnecatio.
resignation of Mr. Charles E. Stewart
the directors desire to express their sense of his able
and honourable services for the 19 years during
which he held the office of secretary. Mr. Stephen
Reayhas been appointed to sacceed Mr. Stewart. The
directors request the votes of the proprietors for
£350,000 to provide additional engines, waggons,
and carriages, and £159,965 for additional sidings,
additional accommodation, and other work, at above
e
60 places and stations;
£23,544 at places on the
and £16,149 at several
places
line. From the statement of the half-year's ac-
counts the net proceeds amount
aneaste
in connexion
to £1,061,322,
Lancaster and Caornlis withle line,th Chester and Holyhead
the balance from last accounts to £10,611, making
a disposable balance of £1,071,933, of which the
dividend recommended, at the rate of 71 per cent.
per annum, will absorb £1,060,871, leaving a
balance of £11,062 for next account. The dispos-
able balance for the corresponding half of 1864
amounted to £999,861, and the dividend, at 7 per
cent, per annum, absorbed £974,019, leaving a
balance of £25,842. The capital account showed
that £42,024,720 had beenreceived, and £40,482,731
expended, including £802,751 during the past half-
year, leaving a balance of £1,541,989.