The Sun.
London, England, 1868-02-21 00:00:00

SOUTH-EASTERN.

The report of the directors of this company states
that the traffic receipts exhibit an increase on the
gross earnings for the half-year of £80,055, as
compared with the corresponding period last year ;
while at the same time there was a decrease on the
working expenses of £7,814. After making pro-
vision for all fixed charges, rents, and interest on

the whole of the capital expenditure on lines and
stations productive and open for traffic, the sum
remaining applicable to the dividend on the con-
solidated stock was £176,635, being equal to the
payment of a dividend at the rate of £4 12s. 6d.
per cent. per annum ; but the directors recom-
mended that the whole of the interest on capital
invested on unproductive works, including the
direct Tunbridge line, be charged to revenue ; de-
ducting this sum there would remain £153,820, which
was equal to a dividend on the consolidated stock at
the rate of 4 per cent. per annum, as against 3 per
cent. in the corresponding period of last year, leav-
ing a balance of £1,092, and this dividend the di-
rectors recommended to be paid on the sth of
March. The revenue would thus bear all interest
charges on the entire capital for the half-year. The
gross traffic receipts for the half-year ending the
31st of January last showed that £784,267 had
been received, against £704,212, in the correspond-
ing period ending the 31st of January, 1867, show-
ing an increase of £80,055. The working expenses
and other deductions amounted to £357,914,
against £365,728, showing a decrease of £7,814,
leaving the net receipts for the half-year £429,353,
against £338,484, showing a net increase of
587,869. The passenger traffic showed an increase
in the number of passengers conveyed of 1,592,128,
land in the amount received for their conveyance of
£65,635. The increase in the number of third-
class passengers was 1,375,717, in the second-class
89,971, and in the first class 126,440, the increase
in the receipts being 121,101, £11,719, and
£32,815 respectively. The estimated portion of
this increase resulting from the traffic to and from
the Paris Exhibition since the Ist of August was
33,563 in the number of passengers, and in amount
£24,797, and the remainder was to be attributed to
the steady growth of the local traffic in the dis-
tricts now so accessible to the metropolitan sta-
tions of the company. The receipts on the goods,
cattle, and minerals had exceeded those of last year
by £3,389, there being also a comparative decrease
in the cost of conveyance and working generally of
those departments to the extent of £1,368. The
number of passengers carried on the company's
lines in the year 1859 was 9,588,331, and in the
year ending the 31st of January, 1868, 19,944,549,
showing an increase of 10,356,218 in the number
of passengers. The receipts for passengers in 1859
amounted to £700,681, and in the past year to
£970,741, showing an increase of £270,060, or
about 37 per cent., while the increase in the num-
ber of passengers carried was above 100 per cent.
The season tickets amounted to £27,431 iu the
year 1859, and in the past year to £58,690, showing
an increase of over 110 per cent. The directors
congratulate the proprietors on the result of the
working during the past half-year, stating that in

,he latter three months of the French Exhibition

the expenses, including the steamboat expenses,
were less by £5,460 than those of the half-year end-
ing January, 1867. The number of persons con-
veyed from Folkestone to Boulogne since the jet of
August, notwithstanding the opening of the rail-
way from Calais to Boulogne, had been 62,674, and
on this traffic there had been no instance of perso-
nal injury to a passenger. The Lewisham and
Tunbridge line was now iu all respects ready for
traffic, and would be opened for the conveyance of
paSsengers next month. The certificate of the
Government engineer had been given. The
directors deemed it their duty to state that
the cost of restoration and improvements (by the
use of uninflaminable materials and other-
wise) rendered necessary by the fire at the custom-
house building at Charing-cross station on Tuesday
last will not exceed £4,000, as estimated by the en-
gineers. The capital account showed that
£18,247,350 had been expended.