The Press.
London, England, 1857-05-23 00:00:00

T

514

THE OTTOMAN RAILWAY,
11 FROM SMYRNA TO AIDIN.
CAPITAL, 41,200,000. Divided into 00,000 Shares of £2O
or 2,500 Piastres each.
A minimum Dividend of per Cent. per Annum guaranteed
by the sublime Porte.
Deposit, /1 per Share. Calls of not more than .E 2 each at
intervals of not less than three months. No liability whatever
Incurred beyond the amount actually paid on Deposit and on
Calls as made.
SHARES TO DEARER.
DIRECTORS.
CITAIRMVI-Sir MACDONALD STEPHENSON, 115, Glou-
cester-terrace, Ilyde.parit.
DEPUTY-CHAIRMAN—Captain DANIEL WARREN, 17, Por-
ebester-tarraee North, Hyde-park.
PHILIP P. 131.YTH, Esq., 53, Wimpole-street, Cavendish-
square).
ERIC C.A RHINGTON SMITH. Esq., 1, Lombard-street.
WILLIAM 001tDON THOMSON, Eaq., 83, Gloucester-
terrace, I lyde-park.
Major-General TRE ME NUE EP.E, 33, Somerset-street, Port-
man.square.

souciTores—Messrs. nix us, SON, and AN ON.
11ANKCIt8 IN LONDON Messrs. PAYNE, and
I.owbard•alreet.

SECIMTARY-.3. L. ELKIN, F:sq.
orEtetAL Auntron—li EN la LLOYD MOROAN, Esq-
MNREDITIL Esq.,
BANKERS IN TUItICLIY—Messrs. HANSON and COMPANY,
Smyrna and Constantinople.
SllARElltlOKEltS—Nlebsrst, MULLEN'S, MARSHALL, and
DANIELL, 3, Lotubard.etreet.
OFFICES-3S, CANNON-STREET. E.C.
PROSPECTUS.

his Railway, about 70 miles in length, will connect Smyrna,
the mo3t important Seaport in the Levant, with Ouzel Hisser
or Ai.lin, the great entrepAt of the internal tramie of A,:ia Minor.
It will bring the two places within three hours of each other,
in4tead of four days as at precept.
Smyrna contains a population of BONO—possesses one of
the titiest harbours in the World, and takes the highest rank
among the trilling ports of time Mediterranean.
The aggregate value of her imports end exports in pm,
taken from ihe molt reliable sources of information, unmounted
to 5,000,001. sterling, and the tonnage inwards and outwards to
869,380 tons.

The extraordinary fertility and resources of Asia Minor main-
tam Smyrna in her position as a Trading Emporium, notwith-
standing all the disadvantages she has had to contend with from
the total absence of even the most ordinary roads, and which
has from time immemorial rendered imperative the exclusive
Use of camels and mules. When the goods are packed at Aidin,
the deterioration now caused, particularly in delicate pro.iucts,
by the frequent lading mid nulading consequent upon the
nightly rest of the camels, will be avoided. The loss by damage
arising from the death of animals and from numerous other
casualties, which frequently occur during the conveyance from
Aidin to the port of shipment, Smyrna, will all be obviated by
the proposed Railway.
The physical features of the neighbourhood of Smyrna, which
is surrounded by mountains, force the traffic along two principal
routes—one to the North, skirting the seacoast, and leading, by
a circuitous path. to Magnesia and Cassaba, and from thence to
the Northern and North•!asteru parts of Asia Minor—the
second to the Southeast, opening upon the celebrated province
of Aidiu. The varied elevations of this part of the country, the
genial temperature of the climate, and the alluvial nature of the
soil enable it to grow produce of all kinds from the rarest to
the coarsest qualities. Tobacco, the Fig, the Viue, the Olive,
the Poppy, the Cotton plant, and Mulberry tree are indigenous
products, whilst wheat, Maize, Barley, Beans, Flax, Hemp and
a variety of pulse and oleaginous seeds are raised in -large
quantities. Valonia, iellow.beiTies, Wool, Goat'sshalr, Dye-
stuffs, Drugs, Skins, Honey, Wax, ,tc.. likewise alxnunl.
Ouzel Millar, wore commonly called Aidin, is a thriving city,
having about tki,ooo inliabitauts, and is the point of concourse
for persons from all parts of the interior, who resort to that
market for the disposal of produce in small parcels to the resi•
dent dealers trading with Smyrna, and for the purchase of foreign
goods.

According to a low average of the various estitnates made by
a special Commi.aioner sent out tor the purpose, whose Report
bas been confirmed by all the principal resident Merchants
of Smyrna, the goods traffic from Aidin to Smyrna employs
19,000 Cam-ds and Stet Mules, at the cost of over 400.000. per
annum. Independent of the !0,000 Camels which are constantly
employed to carry• the traffic between Smyrna and Aidin, there
are at least 2&,0011 employed on various routes in entice) ing pro-
duce from the interior to the sea. Wneu this Railway is com-
pleted to Alibi', the traffic conveyed by at least 10,00 u of these
20,000 Camels will come to the line, thus at once considerably
iucreasiug the existing amount of traffic between the two places.
It is evident, front the above data, that the present goods
traffic will give a dividend of 12 per cent per annum, after de-
ducting one-half of the receipts for winking exnenses, and the
division of profits with Government over 7 per cent.
With regard to passenger trattle. tio accurate estimate can he at
present formed. looking, however, to the result of the opening
of the Railways in Egypt and India, and to the absence of any
passport 'system, a large revenue is certain to be derived from
this source,

The Turkish Government gnftrantees n minimum dividend of
six per vent. per .inntitu on the expenditure, not exeeeding
1,100,0001.. an l Com riteiors of e iii iii env* and tesponsih:lity have
offered to undertake the construction of the Itailw.iy with ample
RoLlin.t stock within this amount; hne the present extraordi-
it try traffic along the route it will traverse, unequalled by that
en any hallway ever offered to the public, is the best guarantee
of its aileeess.

The Turkish Government, hr the terms of the Concession.
reserve 15,100 shares, or an ~Ouni , for local subscription. The
applications for these ahares,headed by his Imperial :Majesty the
titiltan, the Grand Vizi, r, and several influential capitalists of
Constantinople. have considerably exceeded this amount.
The Concession %inch has been granted and coArined by an
Imperial Finnan accords the most valuable privileges. The fol-
lowing is an outline of the principal clauses:-
1. It is perpetual, subject to the right of purchase by the
Otmman Government ui-on agreed and equitable terms at the
rat of GO, 75, 95, and every subsequent 20 years.
A guarantee of a dividend of 6 per cent. per annum as
there mentioned for 10 years. The line to be opened in sections,
and the guarantee to come into operation as each section is
opened. lite profits over 7 per cent. to be divided with Go-
vernment.
3. All Government land and materials to be talon and made
use of by the Company gratuitously.
4. All materials for constructing, working, and renewing the
Railway to be imported duty free.
a. Tae power of working all coal mines within 30 miles of any
part o' the line, on payment of a fixed royalty.
C. The privilege of electing warehouses with aCuttom itouse
attache I on the Company's premises at Smyrna.
7. lire engagement of Government not to grant a Concession
to any onopeting hue.