The Sun.
London, England, 1866-04-30 00:00:00

MADRAS.

The report of the directors states that on the
south-west line and its Bangalore branch a very '
considerable increase in traffic and profits had taken
place, while the extension of the north-west line to
Cuddapa had been followed by a still more impor-
tant advance in its traffic and returns. This exten-
sion of 40 miles in length was opened on the Ist of
September last. Compared with the corresponding
half of the previous year, the average mileage
worked over on the company's two lines together
had been 598 miles against 538 miles ; the number
of passengers carried was 908,435, against 766,826;
of goods, 164,910 tons, against 137,086 tons, the
railway materials being excluded. 'The aggregate
traffic receipts had been £225,112, against £169,564
in the same half of 1864, being an increase of
£55,548, or 32 per cent. ; and the net receipts had
been £131,500, against £83,688, being an increase
of £47,812, or 57 per cent., over those in the same
half of the previous year. Those favourable results
were partly due to changes in the traffic and classi-
fication, which came into operation on the let of
November last. The permanent way works and
rolling-stock had been well maintained, and the re-
quirements of the increased traffic fully met. The
works and surveys of the further portion of the
North-west line and its Bellary branch had been
steadily prosecuted, and the board were assured that
it would be completed to the junction with the Great
Indian Peninsula Railway at Raichore by the time
that line was ready to join it. A further section of
32' miles of the line beyond Cuddapa was expected to
be opened by Midsummer. The shipment of material,
plant, and stores during the year 1865 amounted
to 44,352 tons in 75 ships. The cost of maintenance
of way and works for the whole line had averaged
£169 per mile per annum; for the western section,
£164 ; while for the Bangalore branch, which was
entirely laid with iron sleepers, the cost had been
only at the rate of £74 per mile per annum. The
total receipts for the past half-year on the south-
west line amounted to £192,055 against £157,343
for the corresponding half of 1864, showing an
increase of £34,712, or 22 per cent. The expenses
amounted to £84,681, or 44.09 per cent., against
£80,624, or 51.24 per cent., showing an increase of
only £4,057 ; and the net receipts amounted to
£107,374, against £76,719 for the corresponding half
of 1864, showing an increase of £30,655, or 40 per
cent. The receipts per train mile were 6s. 6id.,
against ss. 74d. for the same half of 1864, and the
expenses 2s. 101 d. per train mile, against 2s. 100.
The cost of wood fuel was about half that of coal or
coke upon the railway, and the improvements that
had been effected in the spark-catching apparatus
applied to the locomotives had now rendered the use
of wood fuel comparatively safe.
The opening of the,North-west line to Cuddapa
on the Ist September 'increased its mileage to 119
miles, but the average length worked over for the
half-year was only 106 miles. The number of pas-
sengers carried in the half-year was 149,536, against
102,767, and the tonnage of goods, exclusive of rail-
way materials, 29,588 tons, against 21,051 tons- in
the corresponding half of 1864. The total receipts
on the North-west line for the past half-year
amounted to £33,058, against £12,221 ; the expenses
to £8,932, or 27.01 per cent., against £5,253, or
42.98 per cent., and the net receipts to £24,126
against £6,969 in the same half of 1864. The receipts
per train mile were 78.91-d. against ss. 84c1., andthe
expenses per train mile were 2s. 14c1., against 2s. sd.
The cost of the South-west line and Bangalore
branch, inclusive of rolling stock, was still under
£ll,OOO a mile. Considering the heavy works on
many parts of the line, and that it ascended at Ban-
galore to a height of 3,000 feet above the sea, the
result was satisfactory, and creditable to the en-
gineers and the system under which the line had
been constructed. The net profits for the year 1865
had been equal to 3 per cent. on the capital cost,
and in the past half year to 4 per cent. per annum.
The cost of the section of the North-West line upon
which the revenue of the half-year had been earned
was under 19,200 per mile, inclusive of rolling stock,
and the net earnings were equal to a dividendat the
rate of nearly 4i per cent. per annum. The total
expenditure allocated to the 30th of June amounted
to £6,142,423, the balance unallocated being
£1,642,962 in December last.

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