The Sun.
London, England, 1868-01-31 00:00:00

METROPOLITAN.

The report of the directors of this company states
that the gross receipts from traffic for the half-year
ending the 31st of December last amounted to
£118,738, as compared with £10,295 for the cor-
responding half of 1866, showing an increase of
£11,443, which had been earned without a corre-
sponding increase in the expenses. After charging
the revenue of the past half-year with all expenses-
there remained a net available balance (exclusive of
the dividend of 6 per cent, paid on the extension
stock on the sth inst.) of £91,633. The balance
would permit the payment of dividends on the pre-
ference stock at the rate of 5 per cent per annum,and
upon the consolidated stock at the rate of 7 per cent.
per annum,carrying forward a balance of £6,999 to the
credit of the current half year. The condition of
the atmosphere of the company's tunnels was made
the subject of a careful examination in the month
of September last by very eminent chemists, who
reported that " the atmosphere of the Metropolitan
Railway was not unwholesome or injurious to
health." The widened lines from King's-cross to
Farringdon-street have been completed and in-
spected by the officer of the Board of Trade, and
were now ready for passenger traffic. The opening
of those lines would enable the company to hand
over to the Great Western Railway Company the
spare lands at Farringdon-street, so as to bring into
operation the agreement with that company. All
the works in progress were in a very advanced state;
those works comprised all the parliamentary obliga-
tions of the company, with the exception of the
Eastern Extension, and for the completion of this
work the company possessed ample pecuniary
powers. Application would be made next session for
parliamentary powers to confirm the agreement
with the Midland Railway Company, and to facilitate
the construction of a short branch line which would
afford a direct communication from the railways
south of the Thames to the meat market and to
Moorgate-street, involving the expenditure of about
£15,000. With a view to secure the punctual pay-
ment of interest and the redemption of the new re-
deemable shares created in August last the surplus
lands had been scheduled and vested in three trus-
tees. The rental from the small portion of the
lauds already let exceeded £2(},000 per annum. The
directors were advised that the company would
realise at least £1,300,000 from this property. A
Mr. Bloxham had filed a bill against the company
and the directors, praying for an injunction to
restrain the payment of dividend. The bill was
filed on Saturday last, and the directors felt
great confidence that such a bill would not re-
ceive the favourable consideration of the. Court.
From the report of Mr. Myles Fenton, the general
manager, it appeared that 23,405,282 passengers
had been conveyed over the railway in the year
1867, that the gross receipts amounted to £233,180,
and the net receipts, after deducting expenses, to
£143,109. The aggregate number of passengers
conveyed on the railway during the past five years
was 81,619,357, the gross receipts were £803,131,
and the net receipts £482,113. During the past
half-year the number of passengers was 11,916,924,
and the amount of gross receipts £118,738, show-
ing an increase of 947,215 passengers, and £11,443
in the receipts over the corresponding half of 1866.
This return had been secured with an increase of
only £422 in the working expenses. The traffic to
and from the Hammersmith railway continued
steadily to increase. In 1867 it amounted to
£40,866, against £32,520 in 1866, and £19,165
in 1865. The capital account showed that
£5,653,364 had been expended, exclusive of
£78,000 subscribed to the St. John's-wood line,
leaving a balance of £7,871.