The Express.
London, England, 1865-12-02 00:00:00

THE ATLANTIC and GREAT WESTERN
RAILWAY.
autherbed.
Shares s.ll),Zrttl, to shares of $OO each.
Mortgage Bonds, Six Millions Sterling, or Thirty Millions
Daises.
Issue of Consolidated Sterling Mortgage Bonds for £1,M,000,
hating filt years to run, bearing interest at Seven per Nut per
Annum.
Secured on the whole Line of the Atlantis and Great Western
Railway. with Branches, liztensions, and ittpdpment
£3.001,400 being reserved for redemption of Mortgage Bonds
already issued on the several divisions.
The Roads are of £lOO, or 600 dollars each, with interest, payable
quarterly, tree of income tax, in London, In Sterling, or in
New York. in gold. at the Company's offices. I,l4e4Lars pay-
able to bearer, bat can be registered at holder,'
BOARD OP CONTROL IN LONDON.
Sir S. MORTON PET°, Bart.. M.P.,
8 Goodson, Req.. M.P.,Chainnturfire2=Rallway,Londoa.
W. Fenton, Xaq.. Deputy-Cbairmaa Great Western Railway.
London.
C. J. Kennard, lisq , Director of coasoßdsted Bank (Limited),

London.
Edwin B. Mosley, Fag., Barned's Banking Company (Limited),
Josepherpool. Robinson, Esq., Deputy.Chakman Tbbw Vale Company
(Waited), Londoe.
The Consolidated Bank (LiILANCITU.mited), London, Manchester, sod
Norwich.
The National Bank. London, sad Branches la Ireisad.
Messrs. A. Heywood, Seas, and Co., Liverpool.
The Bank of Somland. Edinburgh. and Branches.
SOLlClTarn—Messra. Treaded& sad Newman, Beak.brilidinp,
Lead." LC.
BLOW&
Kars. Joshua lintohlason sod Sim, Angel-court. modem, IC.
Meson. E. F. Satterthwa
Louiseße and Oa
LC. , 3d. 'Throlpsorke.stiest,
Years. Limnos, Bee. sul Peon* Y. Angel.rourt, London, PLC.
lhe aceouspang report of J. B. Forbes. Esq.. well known to
the British rally'', public. as vico.prealdant of the Dutch-Rhenish
Railway. and general manager of the London, manual. and
pow Railway, eastaine fall inforsesAirm derived from personal
inspection of the position and orcepecto of the Atlantic and
Great Western URA,. franc Will& it amen—
The Atlantic and Great Western Railway system comprises—
/507 miles now in work, inoledkm IT mita recently
riewnft‘
100 mike in coons of construction,

T0ta1..807
Of which 586 miles belong ta the Company. and 81 miles are
leased for a years. at a lon rent ($273,07t a year). Though not
yet fully completed. the trate already equals that of many of
the best AlUeneln lines.
Dudes the lest all months= 1886 the receipt& apes the at
miles then open were 52,579,737, equal (at the present rats of
exchange of seems dollars to the g) to £168,5.= Since July
490 miles have been one= ad the fa:style have been 62,011.576,
equal to Mt ,382 for three mouths. or at the rate of 41,149,58,
per soon= The oinjelned mosihty tame return shows the
teed; Increase of tragic •

TOTAL.
1865. rpm. Ville. Sc. 11. la4M4ter4rrttibt ' yana. II 1666.
-.- -- --- -- -.
Dollars. Dalian. Dallas. Dollars.
Jennary . VA 111,761 249,379 207,326 361,130
FebrILIWY .. 109,718 277.960 mon 307,643
March .. „ 112,412 336,406 514,733 449,816
Aprll .... ~ 117,641 20,969 197,267 406,690
May ... „ 136,434 324,009 214,679 400. 4.2
June .. 163,733 330,239 314,121 614,012
July .... 490 162,666 432,948 172,098 606,623
„ 213.469 626,049 406,076 I 732,3.21
August .
epiembr. „ 210.914 406.711 446,046 677,625
October .. „ 207,861 612,060 396,847 719,911

3c of 33 m
:ted by WV
heart Westec

elle • or the ON Creek
el has hitherto been
en IL iilway Company,

This fable includes the in,-
Railway which was construct
worked by the Atlantic and GI
but does not form part Of the Co
The actual result, therefore. le a gross receipt at the rate of
upwards of £1,000,000 a year at the present exchange, with 100
miles still tome& and • large increase ot tragic only wilting for
a further supply of rolling stock.
This large teethe Is owing to two cameo :
1. The Atlantic and Great Western line forms the central link
ot the restart line of through traelc in the wadi, viz., that be-
tween the Western State, of America and the Atlantic. From
its shorter distance, and advantage of forming part of an on
broken line of 1,200 mike on • uniform ale-feet ,it matt
always be the best line of cometheicabon by wh enormous
mode and passenger teak centering In the Western cities of
Llnclnnati. Cleveland. Chicago, and it Louis, can melee at New
York sad the smbeerd.
g The local traffic is equally enormous, owing to its traversing
the newly-discovered oil districts of Peensylvanle, aed the great
coal fields of Northern Ohio. Some ides of the
ream
tragic
them welting for development, may be formed froth tbe stogie
fact, that this oil dialed now yields at the rate of 3,000,000
barrel' per a' num, for the conveyance of which is much as Id.
to 4.1. per ton per mile le willingly paid.
A consolidation of the several divisions of the Atlantic and
Great Western Balfirny under one executive has been made, and
a mortgage for 30 millions dollars, or 6 millions sterling of bonds
has been createdend alma capital of Mmtltionsdollers of
of 50 dollars each, based on the whole rroPert7 tithe CompMaresany.
Thenew shares will supersede time previoudj Weed. with the
exception of 1,919,00 e dollars of preference dame pledged as
part of the security for the certificates of debenture issuedntil in
November. 1864, which will therefore remain preferential u
those certificates are paid off. when the whole wilt become ordi-
nary share capital. Provision is made in the mortgage deed
(under which the cepaolidated
meteonds are issued) for
seeming the rights of the existing bonds, and also for
their exchange at maturity, or earlier, by consent of the holder,
If
authorised by the Board of Control ; this being completed, the
present consolidated mortgage will become the end weer gage
over the whole railway, with its branches, extensions and equip-
ments.
The consolidated capital therefore will consist of SOO,OOl the
,000,
half in shares and half in mortgage bonds, which provides for
completion of the entire line.
To meet the interest on them bonds at 7 per cent. in sterling
after paying all working expeuses, it as calculated by Mr.
Forbes theta gross annual receipt of 56,142,000 would be suftl.
Merit, which is considerably less than the actual receipt, and
2,573.000 dollars lees than Mr. Forbes's estimate et the annual
receipt when the additional 100 ilea are opened, so that the
security for the bonds is ample, and there is every prospect that,
in addition, a high rate of dividend will be paid on the 30,000,000
dollar* of share capital.
The consolidated bonds have .25 years to run, with
bl coupons
for interest at seven per cent. per aonum, payaquarterly,
free of income tax, at the Company' • offices in London or New
York, In gold. Interest is payable on Pth 'mussy, 15th April,
15th July, and 16th October of each year.
It la proposed to apropriate the total authorlaed iasue of
g 30.000,000, or £43,000,p000 sterling consolidated mortgage bonds
as follows :
1. A reserve of 610,142,000 will be placed with trustees to
meet. either by conversion or payment when due, the emsting
divisional mortgage bonds, being the total amount that has been
issued, or authorised to be issued, as certified by Mears. Cole-
man, Turgand, Youngs. and Co., after due examination of the
Compaoy's books and registers, or equal to 13,218,400 This in-
cludes all bonds loaed to the public, and also the bonds de-
pos n
ited with trustees for the certificates of debentures issued in
November, 1864, the security of which remains unaffected by
the preeeut Derangement&
2. The balance, vie., £2,771,600 Is offered for public subscrip-
tion at the price of £9.0 per 4100 bond, including the coupon due
January 15, 1866, payable as follows ;
£5 per £lO bond on application ;
10 „ on diotment ;
15 „ :, on 15th January, 1866, leas coupon £1 15s.
due on that date :
20 „ „ on 16th Febnaary, 1866;
2.0 on 15th March, 1666
allowing for the January coupon, the net price of ends £lOO
bond will be £7B 54., or allowing for discount on pre-payments
under £7B.
Subscribers will have the option of paying in fall, under dim-
count, at the rate of 7 per cent per annum but, in default of
due payment of the respective Instalments, all previous pay-
ments rill he liable to forfeiture. The definitive
as soon ends being
now ready wit be delivered. In exchange for se, ip, 23
is fully paid up.
Copies of the laws authorising the conselidationtbe
deed oof e
trusfevered
divisions and branches of the Company, of the sevel'sl
divisions srid branCb4l of the Company, of the deed of tor
bond, and of
mortgage, of the form of coniollda ed mortgage
Ober documents relating to the present issue of bonds, are de-
posited for inspection at the effic • of the *elicitors.
Applications must be addressed either to the Secretary, at
the ogees of the Company, 6, Westminster-chambers, Vic oda-
street, Westminster, S.W., to the bankers of the Company, or to
the brokers, from whom prospectuses and forms of application
can be obtained.
London, December 2, 1865.

ATLANTIC AND GREAT WESTERN RAILWAY.
TORN or APPLICATION.
!To be retained by the B.nken.l
To the Board of Control, Atlantic and Great iWeetern Railway
Company.
Having paid to the sum of i'.. , I hereby
request that you will allot me Consolidated Mortgage
Bonds of the Atlantic and Great Western Railway and I hereby
agree to accept such Coosoilduted Mortgage Bonds. or any less
somber that may be allotted to me, according to the terms of
the prospectus.
I am, your obedient servant,
Signature
Address In full
Date

OUTFITS for INDIA and CHlNA.—Estimates,
with detailed lists of the necessary outfit for mercantile
and other appointments to ladta. China, or any of the colonies,
will be forwarded on aplication to SidllE4llltft and OLF.NNY
Matter/. nett door top
somersetbouse. Strand.

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thee
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