The Sun.
London, England, 1866-03-28 00:00:00

Railway and Other Companies.

ATLANTIC AND GREAT WESTERN.

The Board of Control in London of this company
state in their report that they are enabled to con-
gratulate the bond and share holders upon the re-
sults of the working of the lines of the company
during the year 1865. The board having considered
it desirable that a thorough investigation of the books
and accounts of the company should be made up to
the end of the year, a member of the eminent firm
of accountants, Messrs. Coleman, Turquan d, Youngs,
and Co., proceeded to New York in January, and
made a searching examination into the capital, re-
ceipts, and expenditure of the railway from the date
of the examination by Mr. Young last year. The
communication with Cincinnati was only completed
during the summer, and for some time after, in con-
sequence of the want of rolling stock, the line could
only be very partially used as a through route. In
the course of the year 47 new engines, and 559
additional carriages and waggons of various descrip-
tions, had been brought into me. The building of
additional engines, carriages, and trucks was being
energetically proceeded with, in order to meet the
demand for accommodation which was daily increas-
ing throughout the whole length of the railway.
The total receipts on the line for the quarter ending
March 31 amounted, on 322 miles, to $1,068,997,
and the expenses to $788,865, or 73.79 per cent.,
and the balance to $280,131 ; for the quarter end-
ing June 30, on 322 miles, the total receipts amounted
to $1,238,337, and the total expenses to
$897,571, or 72.48 per cent., leaving $340,766 ; for
the quarter ending September 30, on 490 miles, the
total receipts amounted to $1,631,947, the total
expenses to $924,692, or 56.66 per cent., leaving
$707,255; and for the quarter ending Dec. 31, on
490 miles, the total receipts amounted to $1,871,952,
and the expenses to $1,074,905, or 5742 per cent.,
leaving a balance of $797,047. Up to the end of
June the number of miles in work was 322, and the
receipts upon them were equal to £2,213 per mile
per annum in the March quarter, and to £2,564 in
the June quarter. In July 168 miles of new line
came into work, the total mileage being then 490.
The receipts upon the whole 490 miles were equal
to £2,220 per mile per annum in the Sept. quarter,
and t 3 £2,547 in the Dec. quarter. These calcula-
tions were based on an exchange of $6 to the pound,
but at the ordinary exchange of 4s. 2d. to the dol-
lar the receipts would be equal to £3,138 per mile
per annum. But even more satisfactory had been the
result of the opening of the new lines upon the
working expenses. In the March quarter they were
equal to £1,633 per mile per annum, or 73.79 per
cent. of the gross receipts. In the June quarter, on
the same mileage, they were equal to £1,858 per
mile per annum, or 72.48 per cent. In the Sept.
quarter, however, the expenses fell to the average
rate of £1,258 per mile per annum, or 56.66 per
cent. of the receipts ; and in the Dec. quarter they
were equal to £1,463 per mile per annum, or 5742
per cent. of the receipts. In the Dec. quarter the
excess of receipts over expenditure was equal to a
yearly profit of $3,188,188, or £531,364, at an ex-
change of $6 to the pound sterling. The apportion-
ment at this rate of net profit to the capital invested
in 1865 would be as follows :—The rent of the Ma-
honing line, payable in currency ; the interest on
the bonded debt, payable 4s. to the dollar ; the
interest on the bonded debt, payable in currency;