The Sun.
London, England, 1859-08-04 00:00:00

MADRAS.

The report of the directors of this company states
that the contracts of the company with the Govern-
ment comprehend about 850 miles of railway, con-
sisting of the main line running south-west from
Madras to Beypoor on the Malabar coast, with its
branches to Bangalore and the Neilgherry-hills,
making together about 515 miles ; and the Bellary,
or north-west line, extending from the Arconum
station, 42 miles from Madras, on the main line,
by Cuddapa and Bellary to Moodgul, where it will
form a junction with the Great Indian Peninsula
Company's line coming from Bombay. Its length
will be about 330 miles. The main line has now
been for some months open as far as the station of
Gorriattum, 96 miles from Madras. Its further
opening has been unexpectedly retarded by the non-
completion, through unforeseen difficulties in con-
struction, of the bridges over the Goriattum and
Palar rivers. The former, however, may now be
considered finished, and the latter is so far advanced
as to give every prospect of its being ready by the
end of the year. In the meantime, a temporary way
is being laid for the passage of waggons and loco-
motives across the bed of the river. On the fur-
ther
side, as far as Salem, which is 206 miles
from Madras, a considerable extent of the perma-
nent way had been laid, and the whole of this part
of the line is reported as sufficiently advanced to
insure the opening for traffic to that important
station by the end of the year. By that time also
the chief engineer expects to complete so much of
the western portion of this line as lies between Bey-
poor and Palghaut ; and soon after the section be-
tween the latter and Coimbatoor, a distance of 90
miles from the Malabar coast. There will then re-
main to complete of the main line the intermediate
distance between Salem and Coimbatoor, the most
important work of which is a bridge over the Cau-
'very river, near Errode, 240 miles from Madras.
Its length between abutments is 510 yards, the
openings are 22 in number of 50 feet wide each, to
be spanned at the height of 50 feet above the bed of
the river by iron girders placed on stone piers.
These piers are well advanced, and will be ready to
receive the girders when they are sent up from
Madras, where they now are. The other works on
this central part of the line being also in a forward
state, and all the permanent way materials required
from England being in store, it is confidently ex-
pected that by this time next year it will also be
completed, when there will be through communi-
cation by railway across the peninsula from Coro-
mandel to the Malabar coast, 405 miles in length.
With the exception of the bridges, the works of
this line have not been generally of a heavy
character. There are no tunnels, and not many
heavy cuttings or embankments. The Madras
Government have resolved to take immediate
steps for the construction of a harbour at
Beypoor, sufficient to secure the safe landing
and shipment of the overland mails and passengers.
The engineers are now engaged in setting out the
Bangalore branch. It forms a junction with the
main line at a point about 125 miles from Madras,
ascends by a very favourable pass- to the tableland
of Mysore, and, having reached the level, pursues
an easy course through a productive and well-
peopled country to Bangalore, a distance of 81
miles. The steepest gradient will not exceed lin
81, with moderate curves. The proposed branch to
the foot of the Neilgherry hills would branch from
the main line near Coimbatoor, and be from 28 to
30 miles in length. The Bellary or North-West
Railway branches from the main line at Arconum,
42 miles from Madras, proceeds by Cuddapa, Gooty,
and Bellary, to the town of Moodgul, where it is
to form a junction with the Bombay line. The entire
distance from Madras is upwards of 370 miles. A
capital of £2,500,000 will probably be sufficient to
complete it in every respect, including rolling
stock. The share capital raised at present for
the main line consists of £1,500,000 5 per
cent. stock, £1,000,000 41 per cent. stock, and
£500,000 41 per cent. stock, together £3,000,000,
leaving £1,000,000 of the estimated capital still to
be raised. Debentures for £500,000, converti-
ble into stock, have been issued at 5 per cent.
interest, payable in five years. Estimating the
cost of the main line and branches at £4,000,000,
and the length at 515 miles, the cost would be
£7,787 per mile. But the cost of the 96 miles
actually completed and at work, including stations,
&c., does not exceed £5,600 per mile, to which, if
£1,200 per mile for rolling stock be added, the
total expenditure would be £6,800 per mile. But
from the great rise which has taken place in wages
and prices throughout the country the cost of the
uncompleted portions of the railway, it is appre-
hended, will exceed that of the first constructed sec-
tion. The amount of capital issued for the Bellary
line is £1,000,000, of which one-fourth has been
called up. On the Ist July, 1856, the main line
was opened for traffic to Arcot, a distance of 65
miles ; on the 7th of May, 1857, it was opened to
Vellore, making 81 miles open ; and on the 19th
May, 1858, to Goriattum, 96 miles from Madras.
The traffic for the half-year ending December, 1856,
amounted to £11,720 ; ending the 30th of June,
1857, to £14,345 ; ending the 31st of December,
1857, to £18,480; ending the 30th of June, 1858,
to £lB,OOl ; ending the 31st of December, 1858, to
£21,760 ; and ending the 30th of June, 1859, as
estimated, to £23,870. The net receipts were re-
spectively £5,665, £7,309, £10,046, £9,970, and
£13,143. Taking the aggregate cost at £6,800 per
mile, and the working expenses at 50 per cent. of
the gross receipts, it would give a result of above
31 per cent, on the capital expended.

GREAT LUXEMBOURG.
The report of the directors of this company states
that the total gross receipts on the line from Brus•
sels to Namur amounted for the year 1858 to
£56,431, and the working expenses to 23,217, leav-
ing a net balance of £33,213. On comparing those
results with the preceding year an augmentation
of £8,293 in the gross receipts, and of £7,563 in
the net revenue, is shown. The working expenses
having been reduced from 46.71 per cent. to 41.14
per cent. of the gross receipts, it states that there
is every reason to believe that the revenue of this
part of the railway will continue to increase, and
that its local resources are only partially developed.
The opening up of the resources of traffic in the
country traversed by the railway from Namur to
Arlon, and the international traffic which wilt par-
tially arise after the connection is formed between
this railway and those of France and Germany,
must tend to increase the traffic of the line from
Namur to Arlon was opened for traffic throughout
to Arlon on the Bth of November last, and the gross
amount of receipts to the end of 1858 were £15,238,
exceeding the working expenditure of £264 only,
and a demand has been accordingly made upon the
Belgian Government for payment of the sum due
to the company in terms of the convention of 1852,
by which the company is guaranteed a minimum
annual revenue of £32,000. The line having been
only opened during a portion of the year 1858, the
minimum net revenue for that year should be
£11,133; of this sum the proportion to be paid by
the Government amounts to £10,869. The Go-
vernment contend that the expenses of working
the line ought to be calculated so as to show a
larger net profit than has really been obtained. The
matter is still under discussion, and in the mean-
time the sum of £4,000 only has been placed to the
credit of revenue, pending the negotiations with the
Government for the settlement of this account.
The extensive line from Arlon to the frontiers of
Luxembourg will be ready for traffic in the
course of the month. Thus an uninterrupted
communication will be secured to the city of
Luxembourg and to the Strasburg Railway by
Thionville. The report states that the late war
and the state of continental politics have exercised
an unfavourable influence upon the t affiC of this
as th. s
as well as of every other railway in the country.
As the receipts from the traffic increase the pro-
portion of the working expenses will diminish to a
very satisfactory amount. The rolling stock, as
well as the permanent way, have been maintained
in good working condition. The net revenue from
the small part of the canal opened for traffic amounts
to £B5B. Since the close of the year 1858 the works
of the canal, for a distance of 16 miles, have been
completed. The directors propose to declare, at the
meeting to be held at Brussels on the 18th inst., a
dividend of is per share. The directors state that
the sum which will be received from the issue of the
remainder of the obligations will be fully sufficient
for the completion of the extension lines to the
Luxembourg and French frontiers, as well as for
all additional station works, rolling stock, &c., so
that no further capital will be required. The
general balance-sheet shows a total of £2,639,034,
of which £1,800,945 consists of share capital and
£735,305 received on account of obligations, mak-
ing together £2,536,350, The general revenue
account for the year 1858 shows, after paying pre-
ference charges, a balance of £5,171, including a
balance of £2,158 brought into the accaunt from
1857.

DARTMOUTH AND TORBAY.
A portion of this railway having been com-
pleted, it was opened to Paignton on Monday.
The day was observed as a holiday, and about
14,000 persons assembled to celebrate an event of
to much importance to the keality.