“CUTTINGS AND EMBANKMENTS.—The Excavations consist of about 722,000 cubic yards of rock and shale, and about 2,006,000 cubic yards of marle, earth, and sand. This aggregate mass has been removed to various distances, from a few furlongs to between three and four miles; and no inconsiderable portion of it has been hoisted up by machinery, from a depth of thirty to fifty feet, to be deposited on the surface above, either to remain in permanent spoil banks, as at Kenyon, or to be afterwards carried to the next embankment, as at the deep rock cutting through Olive Mount; the process in this latter case being rendered expedient from considerations of increased expedition. Where land for the deposit of spoil banks has been purchased, the cost of the land forms part of the expenditure under this head, and a good deal of substantial and lofty walling in the deep cuttings is also included.” “IRON RAIL ACCOUNT.—This expenditure comprises the following items:— _£_. _s._ _d._ Rails for a double way from Liverpool to 48,000 0 0 Manchester, with occasional lines of communication, and additional side lines at the different Depôts, being about thirty-five miles of double way,=3847 tons, at prices averaging something less than 12_l._ 10_s._ per ton Cast-iron Chairs, 1428 tons, at an 15,000 0 0 average of 10_l._ 10_s._ Cost of Spikes and Keys to fasten the 3,830 0 0 Chairs to the Blocks, and the Rails to the Chair Cost of Oak Plugs for the Blocks 615 0 0 Sundry Freights, Cartages, &c. &c. 467 0 2 £67,912 0 2 LAND.—This is a heavy item of expenditure. The price of land in the vicinity of large towns is usually high; and the outlay was further enhanced by numerous claims for compensation, owing to the prejudice which a few years since existed against Railways, and especially against what now appears their peculiar recommendation—the Locomotive Engine. A great change has taken place in this respect. At the close of 1828, the charge under this head was nearly 102,000_l._, but a portion of this amount being for the depôts, has been transferred to the carrying department.” “The Directors, in their Report, dated the 25th of March last, estimated the total expenditure, including Warehouses, Machinery and Carriages, at 820,000_l._, which may be apportioned as follows:—