The Express.
London, England, 1863-06-06 00:00:00

7i'

CORK and YOUGH A L RAILWAY COMPANY
BONDS.
NOTICE IS HEREBY GLYNN that the BONDS of this Com-
pany coming due will he PAID on presentation at Messrs. Olyn,
Mills, and Co., Bankers, Lombard-street ; also that the holders
of such Donde desirous of renewing same for three or five years
may do so on application at the Ottices of the Company.
By order, C. BANKS, Secretary.
175, Gresham-house, Old Broad-street, London,
June 6, 1:163.

11HE DUNABURG and W I TRPSK RAILWAY
COMPANY (Limited).
Incorporated with Limited Liability under the Joint Stock
Companies Act, 1682.
The Line to be constructed under a concession ted by his
Imperial Malesty the Emperor of Ramis. dated 10th March
(U.S.), 1883.
Nominal Capital Axed by the Concession). 42.800,000,
on which the Russian Government guarant, ea an annual interest
of .£5 per cent., amounting to 4130,000 in sterling money, for 85
years, and an additional 1.12 per cent. to redeem the capital at
par in 86 years, by annual drawings, commencing the lint year
after the completion of the line.
The above capital will be issued in 28.008 shares of 4100 each,
bearing a minimum interest of £3 per 'share, which, on an outlay
of £43 per share, amounts to a fraction above six per cent.
Interest on the calls at the rate of six per cent, per annum
will also be paid during construction.
Deposit, 4.5 per share on application and 45 on allotment.
One-third of the capital has been taken by the Conceasionalrea.
DIRECTORS 12 LONDON.
11. L. Bischoffshelm, E.g. (Messrs. Bischoffshelm and Gold-
schmidC.
Oeo. J. Gfachen, Esq., M.P. (Messrs. Frithling and On chen(.
William Miller, Eng., M.P. (Mews. Wm. Miller and Co., St.
Petersburg).
T. A. Mitchell, Esq., M.P. (Mews. Mitchell, Yeanses, and Co.)
Jervoise Smith, Fag. (Mews. Smith, Payne, and Smiths).

His Raceßow de 631m717losraprernor--- of the Province of
Livonia.
Jaws Artnitatesd, Esq. (Mews. Mitchell and Co., Rigs).
James Henry Hill, Raq. (Messrs. Hill Brothers, Rigs).
Burgess—Messrs. Smith, Payne, and Smiths.
Sourrfoas—Mews. Preshdelds and Newman.
Corium:run DIGINIMI—John Hankshan, !nu.
=MOT RSOINIER—Morgau Williams, Esq.
Aonrrons—Messrs. Coleman, Turquand, and Co.
SeCartila (pro tem.)—Mr. W. H. Trampler.
oMces-21, Thrograortonntreet, EC.

This railway, of the length of 161 English miles, will connect
DUnaliorg, the terminus of the Riga and Danaburg Railway, with
Witepak. The line passes through one of the moot productive
districts of Russia, furnishing a large proportion of the exports
fr. m Riga ; and, in facilitating the transport of produce (4 the
rich and wheat-growing provinces of Smolensk, Mohilew, Kursk,
and Orel, will prove of the greatest importance both to England
and Russia.
In consequence of the absolute impossibility of forwarding
goods at certain seasons of the year. and the very heavy charges
at all times, a great part of the produce of these latter provinces
ham hitherto bees almost lost te exportation, or available only in
sermons when the marketa of Western Europe were approaching fa-
mine.rices. The transport c f the colonial and foreign produce re-
quired in this part of the interior, effected hitherto to a great
extent at heavy charges from St. Petersburg. will be carried on
by means of this railway from Riga to Witepek direct, and be
thence distributed. There will also bee consideralle passenger
traffic, as the abevenamed provinces are amongst the moo i
populous of the empire. This railway will be the only conve-
nient and expeditious route for the kibahltanta both to St.
Petersburg and Western Europe.
The Russian Government, attributing special importance to
the early construction of this line, has granted a concession of
the most favourable character, embracing privileges never before
obtained.
Among the dlstingulahing features of the onnemelon are the
following
1. The Company la to be constituted according to English law
with the Board of Direction in Loudon, and an agency of three
directors in Riga.
2. The government guarantees the Interest to sterling money,
not, as in previous cues, in roubles,
3. The government also guarantees an additional saes payable I,
half-yearly, on the capital of 01,600,000, antitrient to redeem the
whole capital at par In 86 years.
4. Both the interest and the sinking fund are payable half- I,
yearlat fixed dates.
6.The net receipts of the line are applicable In relief of the
government guarantee ; but the Company is authorised, in
priority, to set apart 10 per cent, of such net receipts, to the
extent of £lOO,lOO, to form a reserve fund against =tin-
gencies.
6. The Shareholders are entitled to all net profits of the line.
up tog per cent., on the nominal central of 06,600,000. They
are farther entitled to amnia of all further profits, over and
above the 6 per cent., until the government is reimbatsed the
moneys which it may have paid in respect of the guaranteed
interest beyond the net earnings of the line Sitar which reim-
bursement the shareholder' are entitled to the whole of the
Oct profits, whatever they may be.
A contract for the execution of the line of railway, by the 30th
November, 1.67, with all necessary atat'oes, bulletin., and
works, and for the supply of rolling stock, according to the
specifications and requirements of the government, has been
enterer' into by the concessionaires with Messrs. Peto and Betts,
tinder the superintendence and with the approval of Mr. Hawk-
show, the emieent civil engineer, for a sum of 01,736,915. Au
arrangement has also been concluded by which that contract,
together with the concession, is to be made over to the Company
for the stun of £48,000, which sum coven all prelimi ex-
penses Manned in Ramis and In Rapland, la connexion both
with the concession and the caution money of 0130,000.
By these arrangements, the cost of the undertaking, as shown
by the =Wined statement, has been brought within • sum of
118,143,61 A
The contract with Meows. Peto and Betts fee the
entire construction, Including rolling stock,
amounts to
The engineering and Inspection of the line during the
whole period of construction, Including the coda
of the preliminary surveys. etc., tumbrels contracted
for at • sum of 73,700
Interest during construction, which will be paid at
the rate of 6 per cent , is calculated at about 196,000
Competent persons at Riga have offered to contract
for the purchase of the land necessary for the rail-
way the crown lands being assigned gratuitouslyist 34,000
The line Is to be completed and ready for ignite
within four and a half yearn from this time. The
coat of races. expenses In London, Riga, and Mina-
burg, together with the remuneration of the di-
rectors la London and Riga, Is estimated, for the
above period, at
Price paid for the concession, contracts, and prelimi-
nary expenses. as above
Brokerage and incidental expenses, say

,Z 2,143.616

From the above statement It will he seen that the—annual
guarantee of 0130,000, accorded by the Russian Government,
will yield, on the above outlay of 02,143e19, a net revenue at
the rate of a per cent., Independently of the amortization fund
and of the profits of the lime, which are estimated at a large sum,
anti that the amount required will not exceed Zaa per share.
It Is contemplated to take power In the Articles of Association
to Issue debentures In relief of the capital, at such a rate as will
Mfard a further benefit to the shareholders,
An arrangement has also been made with the contractors, by
which It is anticipated that a section of the line will be opened
by the 30th November, 1840, from which source a saving of
£40.000 may be anticipated to the Company on the item of
"Interest during construction.'
The share capital will be pail off at par by annual drawings,
which will commence owe year after the opening of the line.
For farther details as to the terms of the concession refer-
ence may be made to the certified copy of the original, which
lies at the Company's office for inspection. The original doce•
meet in deposited as customary In the Imperial archives at St.
Petersburg. An extract of the principal articles of the concea
sion accompanies this prospectus.
Application for shares to he made In the annexed form,
addressed to the Directors but no application will be enter-
tained unless accompanied with the roe int of Messrs. Smith,
Payne, and Smiths, for £5 per share on the number of shares
applied for. This sum will be returned In the event of the appli-
cation not heft granted, and if an all tment is made It will be
applied toward the payment of 010 per share then to be made.