The Sun.
London, England, 1861-07-22 00:00:00

further lines, whose construction will depend on
the success of the parent line, and will gra-
dually lessen the distance between the Mediter-
ranean and the Persian Gulf. Thus he would ex-
tend his works by degrees along the valley of the
river by Phumsah, the ancient Thapsacus, cross
thence into Mesopotamia, working down the valley
by Annah and Hit to the environs of Bagdad, and
thence, by Babylon and Hillab, to the point where
the Tigris and the Euphrates join at Kurnah, and
the united stream becomes deep enough for steamers
of the largest size. Other branches, too, might top
the Persian Gulf at Schenster, or at Bussorah,
where the trade is extensive, and the accommoda.
tion for ships of large tonnage already ample.

LONDON, BRIGHTON, AND SOUTH
COAST RAILWAY.

The report of the directors, to be submitted to the
meeting of the proprietors on Friday next, states that
the amount of capital raised to 30th June, 1861, is
L 10,060,926, consisting of ordinary stock £4,620,000 ;
preferential stock and shares, £3,083,577 ; mort-
gage debt, £1,614,715 ; debenture stock, £751,634 ;
total, £10,069,926. The amount of capital ex-
pended during the half-year has been £252,110, of
which full particulars appear in the capital account
annexed. The gross revenue for the half-year has
been £421,379, showing an increase of £30,768 over
that of the corresponding half-year of 1860, in which
last-named period a special credit of £7,901 appeared,
consisting of old balances as explained in the report
of that half-year. Of this increase of £14,674 arises
in the goods and the remainder in the coaching
traffic. The weather during the early portion
of 1861 was most unfavourable ; still the de-
velopment of traffic caused by the opening of
the Victoria station has produced results which
afford satisfactory proof that the large expendi-
ture involved in this new undertaking has already
become remunerative. Distinguishing the ordinary
expenses from the amount expended in renewals,
the general result of the comparison with the cor-
responding half-year of 1860 stands thus :—Ordi-
, nary expenses, 1860, £167,699 ; 1861, £183,108 ;
renewals,lB6o, £16,358; 1861, £16,401 ;'total work-
ing expenses and renewals, 1860, £185,057; 1861,
£194,509; per train per mile, 1860, 3s. 01-d. ; 1861,
3s. °id.; per cent. on trafficreceipts, 1860, 471; 1861,
47. The increase in the ordinary expenditure arises
from the extension of the company's system and the
additional service thereby entailed, which has
produced its attendant expenses both in working
and in taxation. The repairs and renewals in the
locomotive department have caused a heavy ex-
penditure during the past half-year. The
period is also approaching when several of
the engines built between 1844 and 1848 will
become unfit for profitable use, in anticipation of
which, thirteen engines, forming at present an ad-
dition to the stock, have, as stated in several pre-
vious reports, been built and paid for out of re-
venue, and will come in aid of the replacements
which will shortly be called for. There has been a
considerable increase in the charge for interest on
preferential capital, arising chiefly from the fact
that interest on the entire outlay in respect of the
Victoria station and its works has become a
debit against revenue for :the whole of the half-
year. Although the traffic resulting from
so important a metropolitan terminus has
only been partially developed, the increase arising
from this source has already produced an adequate
return on the expenditure, while a further augmen-
tation of income may be reasonably expected. The
works of West London Extension Railway are in
a forward state, and the contractor promises to com-
plete them by the end of the year. In any case the
line will be opened in the early part of next year.
affording a ready access, by means of the Kensing-
ton station, for passengers from all parts of this
company's railway to the Great Exhibition of 1862 ;
while the permanent advantages attending a con-
nection with all the northern lines of railway will
be apparent. The board are pressing forward the
works on the Croydon and Balham line, which
they hope to see completed at an early day; by this
route a saving of nearly a quarter of an hour in the
running of all the main line trains to and from the
Victoria station will be effected, and the working
of the constantly increasing local traffic on the West-
end and Crystal Palace line much facilitated. The
attention of the directors is now given to the con-
struction of the line from the Mid-Sussex Railway at
Pulborongh to Arundel, Ford, and Littlehampton,
which will soon be in active operation. When com-
pleted, it will, in connection with the Croydon and
Balham line, enable the traffic to Chichester, Ports-
mouth, and the Isle of Wight to be carried on in a
very expeditious manner; as this new route will
effect a saving
-of nearly 13 miles. The only bill
prosecuted during the present session of Parliament,
which affected the interests of this company, was
one by which the London, Chatham, and Dover
Railway Company attempted to obtain compulsory
powers, obliging this company to forward their
traffic to and from all parts of this railway, and en-
abling them to form a junction with this company's
West-end line at a crowded part, and, as the di-
rectors considered, in a manner calculated to pre-
judice the public safety. The proprietors will be
pleased to learn that the committee of the House of
Commons refused to grant such powers. The net
amount at the eredit of the revenue account is
£116,656, out of which the directors recommend
the payment of a dividend of 2 per cent. for the
half-year, amounting to £115,500, leaving a balance
o the credit of the current half-year of £1,156.