The Express.
London, England, 1863-04-28 00:00:00

COITPCIL OT ADMIXISTIrION.7 ITALY.

General Ostia ------- IILARHORA, Honorary Pre-
sident
Mantels Gaetalodtearour.

iisr4;l; isot
Blow OfossppelisnnoSanna, Deputy of the Italian Parilayeast.
" DAIMON/ IN LWILIIIII.
Thomas Barnes, EN., H.P. (Director of the Laneashire sad
Yorkshire Builway).
Charles Bell, Ism. pleura. J. Thomson, T. Boner and Co ),
Loudon.
IL Z. Omuta Mo., M.P. (Meson Paacoe ()rental and Sena),
Loudon.
L Leonino, Cp. "Messrs. I. Leonia.) and Co.?, London.
Juba Ponder, Eft.. Y.P. ;Merry J. Pander and Co.), Manchester.

DABILYXS.
Hews. Glyn, MIDs and Co London.
Mears. Arthur Heywood, Sous and Co., LiverpooL
Tbe Ctessolidsted Dank (Limited), liandiester.
SiirL Boimida, Turin.
ilisrL "Mein Leonid° di D., Genoa.
1101:11111.
_ _

Nowa P. Csienowo and Co., 5
JIG.

Mr. Eeo. t Seymour, fie, Thrgmorton•Neeet, London, E.C.
1= Rondall sad Addleon, LiverpooL
Shore nod Kirk, Manchester.
iIIANCITOWL
MINT& Bircham, Dalrymple, Drake, end Ward. London.
Messrs. LAO/dale, Ridley, sad Bardswell, LiverpooL
lirdieszis—Mr. Beal rem, C.E., 28, Great George-street,
Westminster.
Lemur Oworzusr. —llr. J. J. Ridley.
Temporary Odical—a, Copthall.court, London, LC.

The Government of Italy, desiring to develop the resources of
thelitend of Ihmtinta by the Introdaotioo of foreign capital in
the camtructim of railways, have by virtue of an act bearing
the Tont confirmed'', under date of the 4th of January last, con.
forted the *allowing valuableeoaoemion. which here been par-
chased by this
The ezdustvCsira
a. vilsge if constructing railways in the
bland at emdbil
Ind. • roe rite. or subvention for the lines aow proposed of
9,000 We foe each kilometre of railway, or 43,0 sterling per an-
glish mile, per annum, not revenue, for a period of 99 years, pay-
able's seek section la mossod for trate and,
, PM. An imemillaile great to the Company, in perpetuity and
absobsteiy, of freehold landed estates, belonging to the crown,
is the Island et flardiaM contalaim 200,000 bantam" or 480,080
English acme, the presoldvalos of which Is officially returned at
£600,000, bat which It le manifest will be largely increased by
I the completion of the railways.
The ASIM per mils net gnmanteed income, together with the
compandivelylow me now proceeding from the landed ee
Utak and amounting, according to the government retina, to
824,000 per lumens, are equivalent to an annual dividend of at
least 8 per tient. upoa the total estimated coot of the railways.
This will be seen from the following calculation
Annual Memo—

---tinarsiTtar7lnet revenue £5BO per mile for 240 miles.. £llB,lOO
Pressed rent from the lands (susceptible of increase).. 24,000
MO
Interest payable on C2,ooo,oooTotal Obligations or AM
Debentures at EX per cent. 1.60,000
XsOlmsted dividend on 81,000,008 share capital,
at £8 per cent.
- 140,000
Surplus income applicable Se the redeMptlca of
debentures
The special feature of this undertaking Is, that while the
shareholders will receive an anneal interest of 6 per cent. Miring
the construction of the line, and a dividend of at Least 8 per
cent. thereafter oa their capital, they will, at no distant date,
have their capital repaid to th• m out of the proceeds of the
crown Lads Cad la Me Company, and continue, IleViralf•
ink la the enjoyment of the dividends during the whole period
el Upon order in which shares will be paid off in this
meant hOl be dehaed by ballot
! The esteem are attested in various parts of the Island,
wl/1 In gnat swains* be intersected by, or In the neighbourhooda
of, the serrend Bass of railway now projected, and also the
several new roads shoat to be constructed by the Government,
for which paire they have voted one million pounds s
Some port of the edslles aretinder ; a comic=
I extent consists of parenride, sad the remaining portkuss contain
forests of oak and other valuable timber. From these foreste the
dockyards of England, Prance, and Italy have for many years
past derived sad are now deriving their supplies of the
Angst ask.
Sardinia Is extremely rlchlumleerah, particularly silver-lead,
copper, sad trenntone, the latter of the highest quality. Besides
these selnerele, the Island contains ertensive coal fields, which
will be developed by onus of the Intended railways.

I%;liTaeanoTritre-lectedwill be Wniie(elthreq-tiisite d
and gaming pincer). end will be shoat reto miler in leogthliniZ
years aro allowed for their completion. They will be prooseded
with In the Ave following sections
I. horn Cagliari to lOW- as, the centre of the mining dlatrld
and mad

2: -froecie lasi to the city of °Mateyo.
3. Frees to 01414
--
.

di, of saasari, to Porto Torre'.
6. From onion to Terra Nova.
Thus, throughout the whole length of the Island, will be
established a complete system of 'Wilsey', bringing into closer
connexion the respective shorts of the Mediterranean.
The most eminent contractors to this country have carefully
'unlined the detailed muss and sections of the projected
tines, prepared by the Company's engineer. and have offered to
contract for their construction at a sum which, after
making
provision for all preliminary and contingent expenses, wa
within the 'mount of capital now proposed to be robed.
The working expenses of railways tn Italy and France rarely
average 42 per cent. of the gross receipts; this Company has
stipulated for an allowance of 50 per cent, to be increased to
63 2.3 per cent during the first rive year., In cam the gram
nosipte do not cursed ten thousand lira per kilometre:.

On thecdrje; Wand, the 07i;erunieiaixii.; reamed the option
of purchasing the railways at any tune after the expiration of 30
years, upon payment to the Company of the value of the rolling
stock, itc., and an annuity for the remainder of the term of 90
years: such annuity to be cot less than the average net
income of the Ore most productive of the last seven peen, and
not less than the set income of the last year preceding such pur-
chase.

The Interest will be payable halt-yearly In London, Path,
Twin, and Oenoa.
_ .

Tr;Ablatedcopies of the Act of the IWlao Parliament, with
game of the Island of Senna* showing the course of the in-
tended railway., can be inspected at the atm of Mars.
blr-
chaes, Dalrymple, Drake, and Ward, 40, Parliaments/reek &W.,
and of Mews. Littledale, Ridley, and Bardswed, Brown's-build-
ings, Ittehenge, Liverpool.
Fame of application for shares may be obtained frees the
brokers, and also at the temporary otters of the Company.
In cues where no allotments are made the deposit wIU be re-
tuned without deduction.

THE ROYAL SARDINIAN RAILWAY COMPANY.
FORA OP AM/M.IOIF MR MAIM
To the Medan ia Ragland 01 the Royal iferdlalan Railway
Company.
Gentlemen,—Having paid to your Hanker' the sum of L
I hanky regiment that you will allot me shame (end
obligations; of Ate each (respect,vely; in the Royal Sar-
dinian Railway Company, and I hereby agree tp accept the mid
eagles sod obliperioesi, or any smaller neglect that may be al-
lotted to me, upon the terms of the statutes, to he agreed upon
by you with the Dalian Government, and to pay the hater d►
posit of At per share upon the shares 'and Al per oblirintlenefe•
the obligationa: allotted tome at inch time and to am* lothalif
m you may appoint. I am, Gentlemen,
Fame in fall
Addrem in full
• Profession or &ulnae Of any)
Place of business, Many)
Date
Asti:arils
the
er
above
se
foonlyrm ,nirpsrmkAoonut the wards in p&
THE ROYAL SARDINIAN RAILWAY COMPANY,
aaaltilig /ACUFF.

Iticeived of

latith
the !aye

&rectors In England of the Royal Sardinian Railway
•
The above forms. after being filled up by the applicant, mud,
Upon the payment of the deposit of El per share, be presented
entire to the Bankers, who will alga and detach the receipt and
return it to the applicant.
The sum specified In the above receipt, or such portico of It
as may be seminary, will be retained by lb. Directors ea se-
eming of the full deposit of £3 per share on the number of shares
sad XI per obligation on the number, of obligations which may
be allotted to the applicant, and will be liable to forfeiture by
the Directors if the residue of such deposit of RS and El respec-
t= be not paid at the time to be stated In the notice of

mm Story d our Lbw from Year to Year."—Shakspeare.
ID Numbs. 110 _

ALL the YEAR ROUND,
To be pabliabed oe the Wth Instant, will be resumed
TRZ UNOOIIIIIIRCIAL TRAVELLER.
A new Series of occasional Papers,
By Cz Ann Dwaine.
The New Work of Fiction, entitled
VERY HARD CAMI,
By MAIL= Won, D.C.L.,
Author of "It Is Never Too Late to Mend,"
In continued from week to week, until completed In about eight

Lmts. '

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