The Sun.
London, England, 1866-08-10 00:00:00

LONDON, BRIGHTON, AND SOUTH COAST.

The report of the directors of this company states
that the amount received on capital account to June
stock, £2,500,590 in mortgage debt, and
30. as
stockli.s and
4910615 h consisting of £5,369,201 in
ordinary shares, £6,326,561 in preferen-
tial£l,29B,6o9 in debenture stock. The amount of
capital expended during the half-year had been
£822,884. The gross revenue had been £529,302,
showing an increase of £32,844 over the correspond-
ing half of 1865. The total traffic receipts amounted to
andto £287,465, o
r working
55 per
n.
ee expenses,t including renewals,
against £244,179, or
50 1-3 per cent. for the corresponding half of last
year, showing an increase in the latter of £43,286.
arising
fromau thee augmentation
additional
i ti io n
n the e
m work-il
ea mileage
e
The cost of working per train mile was 2s. Bd.,
against 2s. 7id. for the corresponding half of 1865.
Tinhere e r
expenses,
had
a large gm
worked from an increase in the rate of wages, and
from the outlay in the improved signalling of the
main line, necessary for securing the safety of the
traffic. The Bill promoted jointly by the South-
Eastern and the London, Chatham, and Dover
Companies for the London, Lewes, and Brighton
line, had received the sanction of Parliament. 'Con-
sidering the decisions of Parliament in three former
Sessions, and the obligations which the company had
taken upon itself when before previous Committees
to accommodate the district of East Sussex and
Surrey on the faith of those repeated decisions, the
directors could not but express their surprise and
regret at a result so entirely atvariance with that of
previous years. With the above exception, the
efforts of the directors against the aggressive schemes
of the South-Eastern and the London, Chatham,
and Dover Companies were attended with success.
The company obtained a bill for an extension to
Hastings, but the intended expenditure of capital
would be avoided, an agreement having been en-
tered into with the South-Eastern Company secur-
ing to the Brighton Company a joint control, and
an improved position in the present station at Has-
tings, which the South-Eastern Company were to en-
large, granting at the same time to the Brighton
Company rights of user of the present St. Leonard's
station, heretofore used by the South-Eastern Com-
pany. The worksin progress were proceeding satisfac-
torily. The portion of the South London constructed
by this company between London-bridge and the
Barrington-road, Brixton, was completed, and would
be opened during the present month. The rest of
the line from Barrington-road to Wandsworth-road,
where it joined this company's lines leading to Vic-
toria, was in course of construction by the Chatham
and Dover Company for this company's use, and
would be completed in a few weeks, and this com-
pany's line from Wandsworth-road to the Victoria
Station was in an equally forward state. Whenthose
lines were completed the delays which had hitherto
arisen in conducting the traffic to and from the Vic-
toria station would be effectually put an end to.
Concurrently with those imyrovements a third line
of rails would be completed as far as the Balham
Junction, where the main line trains left the local
lines. In connexion with those works the company
had obtained, for the first time, an independent ac-
cess to Loudon-bridge by three additional lines of
rails, controlled by their own signals, and an en-
largement of the London-bridge terminus, equivalent
to a doubling of its former area and means of ac-
commodation. The completion of the South London
line would give a new and shorter route between
London-bridge and Viccoria, and West-end and
City accommodation to Rotherhithe, the Old Kent-
road, Peckham, Rye-lane, Denmark-hill and Brix-
ton. The line from East Grinstead to Tunbridge-
wells was completed. This would bring upon the
company's line a share of the Tunbridge-wells
traffic, which must be largely increased when the
Surrey and Sussex Railway was opened. The lines
from Leatherhead, through Dorking, to Horsham,
would be opened in the autumn, and thus a second
route to Brighton completed. The only remaining
line was that from Uckfield to Tunbridge-wells,
completing a direct line between the latter town

and Brighton, which would create a large traffic
between those two favourite places. The net
amount at the credit of the revenue account was
£110,835, out of which the directors recom-
mended the payment of a dividend fon the half-
year, at the rate of four per cent. per annum,
amounting to £107,190, and leaving a balance
of £3,645 to the credit of the current
half-year. The capital account to the 30th of June
showed that the company was authorised to raise
£12,679,500 on shares and £4,193,400 on loans;
total, £16,872,900, of which £15,49.4,961 had been
raised, and £15,384,127 expended, leaving a balance
of £110,834. The amount of the unexpended capital
at the end of the past half-year was £1,488,773.
The revenue account for the six months ending 30th
of June last showed that £529,302 had been re-
ceived, and £287,465 expended in working £137,307
for preference charges, and £1,961 for rent of lines,
leaving together with £8,266 brought from the pro-
ceding half-year an available balance for dividend
of £110,836.