The Sun.
London, England, 1868-02-13 00:00:00

RAILWAY INTELLIGENCE.

LONDON AND ORTH, WESTERN.

The report of the directors has been issued. The
statement of the accounts for the half-year ending
21st December, 1867, presents the following results :
Net proc.‘eds of the half-year's working £1,143,811 ;
balance from last account, £28,676 ; disposable
balance, £1,172,487 ; which enables the directors
to recommend a dividend at the rate of 61 per cent.
per annum on the ordinary share capital, leaving a
balance of £34,658 to be carried to the credit of
next half-year. As compared with the correspond-
ing period of 1866, the passenger, &c., receipts show
an increase of £15,505 ; and the goods, mineral,
and cattle receipts an increase of £86,698. A bill has
been deposited by the company in the present session
of Parliament for various objects ; those involving
expenditure of capital are :—The construction of a
station in the town of Derby with a short line con-
necting it with the Midland Railway, to be occupied
jointly with the North Staffordshire Company, who
are to have the option of finding their share of the
capital, or of paying interest at 5 per cent thereon,
estimated cost £150,000; the construction of a short'
line to connect the Bangor and Carnarvon branch
with the Carnarvon and Llanberis Company's line,
which will, however, be withdrawn upon proper
arrangements being made with that company, and
of which there is little doubt, estimated cost
£36,000 ; deviation of the Midland and London
and North-Western (Nuneaton and Ashby Joint
Railway), moiety of the estimated cost, £37,500 ;
subscription to the Brynmawr and Blaenavon
Railway, £15,000 ; additional lands and works on
various parts of the line, estimated cost £219,000.
The directors do not propose taking power to create
any additional capital, the amount at present autho-
rised being sufficient to defray the cost of these
works, as well as of all existing obligations. The
Central Wales Lines will be ready for opening
throughout in the spring, thus affording a con-
tinuous narrow-gauge communication between
South Wales and the company's system of rail-
ways via Shrewsbury and Llandovery. Having re-
gard to the policy which in 1861 led to the com-
pany's connection with these lines, to the large
stake already held in them, and to the possibility
that differences may arise under the existing ar-
rangements, the directors consider it very desirable
that these undertakings should be vested in this
company, and a bill has therefore been deposited
for that purpose. Negotiations are pending with
the Great Western Railway Company for an ex-
tension of the agreement sanctioned in 1863, and
for such friendly arrangements as to the traffic of
the two lines as will enable the companies, while
affording an efficient service to their important dis-
tricts, to effect a saving in working expenses. The
directors are in negotiation with the Manchester,
Sheffield, and Lincolnshire Company for securing
joint rights in their new line between Sheffield and
Rotherham, and also for the enlargement of the
stations in Sheffield, so as to afford all needful faci-
lities for the staff and traffic of the company. The
necessary powers for legalisng the former are in-
cluded in this company's bill of the present session.
The promoters of the North-Western and Charing-
cross line being unable to obtain the necessary
capital are taking steps for its abandonment.
The agreement entered into jointly with this and
the South-Eastern Company is now, therefore,
practically at an end. The committee of con-
sultation appointed at the recent meeting of the
Midland shareholders sought an interview with
the directors upon the subject of the abandon-
ment of the Carlisle and Settle scheme, and for
the use, in its stead, of the Lancaster and Carlisle
line. The directors, anxious, as indeed their former
offers prove they have all along been, to promote
such an arrangement, made to the Midland Com-
pany a further offer, in writing, of terms on which
they would be willing to admit that company over
the Lancaster and Carlisle line, and at the same
time suggested that further arrangements as t' the
use of each other's lines might also be entered into.
The directors can therefore now only leave the sub-
ject in the hands of the Midland Company, in the
hope that the offers submitted for their considera-
tion may lead to some mutually beneficial arrange-
ments. Resolutions will be submitted at the special
meeting to be held after the conclusion of the