The Sun.
London, England, 1859-08-27 00:00:00

TO THE EDITOR OF THE TIMES.

Sir,—Having read in your yesterday's editionthe
letter from Mr. T. G. Grace on the subject of the
builders' strike, in the sentiments of which I entirely
concur, I think it may be interesting to the masters
to know that for many years my late firm (Fox,
Henderson, and Co.), at their Birmingham estab-
lishment, allowed their men to leave attwoo'cloek
on Saturdays, which of itself was accepted as a grei
'boon, but which was greatly enhanced by the wages
having been previously paid, so that nothing re-
mained at that hour but to return at once to their
families, with the afternoon before them for
provement and recreation.
Thursday being tile market- day in Birmingham,
our men were paid on Wednesday evening, so as to
allow their wives to make purchases for their fami-
lies during the following day with deliberation,
and in the' best market, instead of being driven to
do it in haste on Saturday night, in a bad and dear
market, and to the destruction, of the afternoon."s
holiday.
Great care was taken in paying the men, so as
not unnecessarily to encroach upon their time, to
do it as quickly as possible, so much, so that, with
1,000 men,
•the operation was usually performed
within half an hour,-

It will be in the recollection of many of your
readers that during the construction of the Exhi-
bition Building of 1851 the workmen, who num-
bered 2,500, were often paid in. 40 minutes.
I believe I am justified in, stating that, in, conse-
quence,of these and other arrangements carried out
by my late excellent partner for the convenience of
the workmen, they sought, our establishment, in
preference to all others in the. neighbourhood.
I may, perhaps, add-my belief that, had this
system been generally adopted, .we should have
heard nothing of the "Nine Hours' Movernent."—l
am, sir, your obedent servant,
Spring-gardens, Aug., 25.

CHAS. Fo.,

AILIVA'Y INTELLIGENCE.

SOUTH-EASTERN.
The report of the directorS has just been issued
It states that the total gross income of the company
for the half-Year ending 31st July last amounted to
524,9191. (including. 22,932/. receipts from steam
boat traffic), being an increase of '29,8171., as eom-
pared with the corresponding period of 1858. After
paying and providing for all working expenses,
rents, interests on loans, annuities, and dividends
on preference stock, there remained a balance avail-
able for dividend on the Ordinary stock of 149,7891.
A dividend 'of • 12s. per 301. stock, or at the rate of
4 per cent. tier annum, will absorb a sum of
148,6741., leaving a balance of 1,1141. They' re-
commend that the above dividend be paid on the
Bth of September. The analysis of the receipts and
expenditure shows an increase in the gross receipts
of 29,817/., and a decrease of- 6,3961. in the expen-
diture, making the increase 36,2131. in the net re-
ceipts as compared with the corresponding half-
year of 1858. The working expenses, not includ-
ing rates and taxes, amounted to 193,4841., against
190,6201., showing an increase of 2,8641. The ex-
penditure amounted to 250,8001. against 257,1971. in
the corresponding period of 1858, showing a de-
crease of 6,3961. A table of the gross receipts
for ten years past Shows a gradual and consider-
able increase in all the items of traffic. In the year
ending July, 1850, the total receipts, 2351 miles,
amounted to 575,066/. • in July, 1851, on 249 miles,
to 680,235/. ; and July, 1852, on 2831 miles, to
737,350/. ; ending July, 1853, on 2901 miles, to
789,315/. ;
ending July, 1854, on 2901 miles, to
869,797/. ; ending July, 1855, on 2901 miles, to
889,374/. ; ending July,July,
1857,1856,0 n 0
on
32912;mi1e5,
miles, to
o
1,006,583/. ; ending
1,010,886/. ; ending July, 1858, on 301; miles, to
9,0
85178235,1716;a/. lh
and
a e'nae total receipts
g J
8 from passengers 1859,
n3ol-t
miles,
to
increased from 449,731/. in the year ending July,
1850, to 710,4531. in the year ending July, 1859 ;
and the goods and cattle from 91,9071. to 239,8321.,
the parcels from 15,838/. to 35,8851., the Indian
mails and expresses from 10,115/. to 29,359/., and
the total from 575,066/. to 1,025,617/, in nine years.
The increase under the head of passenger traffic
for the'past half-year is 10,911/., and arises almost
entirely from the steady growth of the local traffic
to and from the various stations on the main, North
Kent, and branch lines. The total number of sta-
tions now open is 95, and it is satistactory to find
that the facilities which the directors have consi-
dered it expedient from time to time to provide for
the accommodation of the local traffic, by the judi•
cious expenditure of capital at these stations, have
been followed by an adequate return. The through
traffic of the past half-year has necessarily been
affected by the disturbing causes existing on the
continent. The total receipts from this source,
however, have been maintained as compared with
the corresponding period of last year.
The increase of merchandise traffic is 7,9661., con-
sisting principally in local general merchandise
(6,0821.), and coals (1,294/), and it is gratifying to the
directors to be enabled to state that this additional
"traffic htis been earned it a comparatively small

inerFAsp (8860 -iVthe4dflikri p'xtetises,'
an actual' decrease in the mileage run by the goods
trains.-The expenditurein working and Maintaining
the line, during' the half-vear exhibits au' increase. '
of 2,8631.; 'but, when taken in connexion with the
increase in the trale earned, anibunting tb 20,2611.
this, feature in the acconntiSl will be regarded with
vire,tificpt ion by the, proprietors. The wOrking
stock or the railway, ;together with the*ttyittnd
Works, has" been fully Maintained', all expenses 'of '
renewal and maintenance being charged 'ditectly to',
revenue. The company's steam-packets' continue to
perfO'rM their voyages froth port to port with their
usual regularity and. despatch. During the last'
half-year the Princess Maude hai undergone-ex-
tensive.repaiis, and has been renewed in her hull,
and boiler, at a cost of 2:9961. Siniilar renewals
have been effected from time to time in the other
vessels at the r.:ost 'of, revenue, by which their
efficiency has ly.;_en" fully ,maintained. For several
Tears past-the steam-packet' revenuei' besides bear-
ing the Cast of these renewals, has been further
Aarged wif, a. the's= of 2,500/. in eachlialf-year
for the purposes of a reserve and insurance fund,
which no,-,v amounts to 25,8501. The directors do
not cordider it necessary", to -add further to that
fund. 'lle largest item in the expenditure of
capital during the last half-year is the amount of
purchase (15,200/.)Of the Caterham Railway, which
is now the propertY of this company. The other
prln cipal items have been fbr additions to the roll-
-I,*, stock (5,7900 and new station and siding ac-
ceaumodation at New-cross, Aldershott, Strood, and
Fielvidere, the expenditure for these purposes hay-
already received'the approval of the kvroprietora.
The directors request the _further sanction of the
proprietors to the expenditure of 2,0701. under an
agrdethent entered into for the construction of a
station at Plum Stead and a bridge over the North
I,leit Railway (in lieu of a levet crossing) at the
same place, 'and' also ' to other items of -expendi-
ture on capital account,- amounting to 19,3001.
The directors have arrived at the conclusion
that it is expedient to 'add to" the company's
working stock 150 • ilassenger carriages, 250
goods waggons 'and trucks, and 12 locomotive
engines, at an estimated cost 'of 75,0001. They
believe the requirements- of the traffic fully
justify this additional outlay, And that it will prove
amply remunerative in the result. The provision
of "a west-end terminus at 'Charing-cross available
for the various line's of the South-Eastern Railway
now terminating at London-bridge, has for some
years been under the consideration of the directors.
Among the prominent tuerits of this scheme were
these important Consideratioo f----(1) obtaining the
proposed accommodation at' he smallestcost to the
South-Eastern proprietors, (2) the economy of
working the proposed line, and (3) the convenient
accommodation of the public (travelling, not on, the
main line only, but on the North hnd Mid-Kent and
Greenwich branches)' on which the increase of
traffic to be derived from 'the proposed terminus
must necessarily mainly depend. In 'all these re-
spects the Charing-cross plan seemed to the direc-
tors to possess unquestionable advantages, and it
was accordingly unanimously approved by the
board. At the last meeting of the company, the
proprietors were pleased to confirm the decision of
the directors, and a resolution was then adopted
empowering the'subscription of 300,000 k towards
the proposed undertaking. The 'requisite powers
were accordingly applied for in the recent session,
and the directors have now the pleasure of eon-
, gratultiting the proprietors on the passing of the bill,
.after a. protraeted'opposition, in the course of which
tho sufficiency of theplans 'and estimates was esta-
blished to the satisfaction of committees of both
Houses of Parliament, 'while the great merits of the
measure on public grounds were unequivocally ad-
mitted. Such having been the result of the appli-
cation to Parliament,- the directors recommend the
proprietors to authorise them to exercise the powere
conferred upon the company by the "Charing-cross
Railway Act, 1859," and to sanction the issue of
'300,000/. in 41 per 'cent. preference shares, in
order that, so far as this company is concerned, no
time may be lost in proceeding with the execution
of this important undertaking. .• •
The capital account shows that £32,941 had been
expended during the past half-year, making the
total expenditure to the end of July £11,648,214.: