The Express.
London, England, 1865-11-22 00:00:00

MILIBIB. KNIGIFF, DALE, ANDCO., 1, ROYAL EXCHANGE i
BUILoINGS, AEI INSTRUCTED4,OOO SHARK TO RI
OFV EVE-
sournoNs FOR 1300,000, IN 1S
EACHH. IN 14,000 PROVISIONAL SCRIP CERTIFICATES TO
E, IN TUN
EAST and WEST JUNCTION RAILWAY
COMPANY.
'lh the exception of 1,000 fully paid-up shares, which have
been reserved.
Incorporated by 27 and 28 Vic., cap. 76.
al on application, /4 oa allotment. remainder in calls of Ed
each. at intervals of not less than three months.
Interest t/4 per cent. er annum on the above capital gua-
ranteed bya the contractor. p
until the opening of the single line.
IThe capital at present authorised for a siogk line is /300,000
1 in shares, and £lOO,OOO in debentur, e.
Powers for Increasing this capital by the Wile of preference
shares not exceeding 1300,004) and (100.000 in debentures, for
completion of • double line, making a total capital of 1800,000,
wilibe applied for nest session of parliament.
It is proposed that this further share capital of 000recei ,000 s
ve •
hall
i rank for dividend before the oriels) share capital and
to the holders
filed dividend of 6 per cent , and be offered at par
lon ths time being, of the
huedoriginl capital, pro rate.
The estimated revenue Is eon the proposed total capital
' . of 1300,000, viz : (11100,000 in shares and 1200,000 in deSentures )
IDDAILD OF DIRECTOLS.
Stevenson Forbes, Ns.. St, Phlllinsore-gardens, Kensington. &W.
William Forbes. Sq., 11, Church-r. ad, Haverstock-hill, ti. W.
Samuel Isaac, Esq., Hyde park.gate, South Kensington.
Finley Knight, Fag.. 4, I.4ll4doWoltlace, Blackheath.
Matthew Malcolm. Dm., The Manor Home, K lotto°, Warwick.
Sir C. Mordaunt, Bart., M.P., Walton House. Warwick.
She C. P. Roney, le, Langhasplace, W.
G. L Suttees, Fan., 40, Devoosblre-place, W.
EFOUILXR—James B. Burke.C.K, 4, Qoeensonart, West
mister.
stsunas—simars, Smith, Payne, and Smiths, 1. Lombard-street.
Lon dos.
SOLICITOR9-340/0.1. Dale, Btretton, and Co., 3, Grays-inn-square,
and Si, Parliament street.
Bitonnits —Mesas. Knight, Dale, and Co., 1, soya Exchange.
handl
scor.Ertav_er.k.. IP.
Oflices-3, Westminster-chambers, Victotisadreet, West-
minster. S.W.

This railway extends from Towcester to Stratb ford-on-
30 mileAv
on.
the
a
distance of 33 stiles. Its (Meet Is to shorten y s
present narrow gauge route, vie Bliswm th, between London and
the great coal Bei& of Meth Wales, also to afford greater
facilities for the coal tnalle between South Wales and Loudou,
and the return freestone trio., between Northamptonshire and
South Wales. The Company ham secured Tanning powers from
Towcester to Ellsworth, as well as most favourable arrange
with the Great Western Co 7.
The line passes througirghn and populous country, and will
afford the best route to Loudon for all traffic arriving at WorMois-
ces-
ter from whatever source, as well as that from Reittliten,
ter. Strio ford, Klneton, and other important towns.
In 1284. South Wales produced 11,000,000 tons of coal and
Londou consumed 5,800,000 taus: et which quantity 2,000,000
tons were steam, and 1,000.000 tons gas coal : but, notwith-
standing that. Routh Wales is practically the roily dialitet in
Great Britain where smokeless steam coal is found, less than
300,000 tons of coal of all descriptions were sent by railway
from S-..uth Wake to Londoo.
This virtual exclusion of the Welsh coal from the London
market arises from the fact that the South Wales coal pro-
prietors cannot successfully compete with the northern pro.
mietors In consequence of the rates being lower on the northern
Rees than them hitherto Charged by the Great Western Railway.
If these rates were equalised, aod the independent Harrow
gauge route shortened, as it will be by the proposed railway,
there can be no doubt that • traffic in coal will be developed
over It far enceedlne the present quantity.
An annual demand exists is Wales for 4,000,000 tons of Iron-
stone of the quality found In Northamptonshire. which district
at present supplies only about 200,000 tons, In consequence of the
toils routes and high rates. This quantity will be largely in-
creased, as the reduced rates and the shortened distance of 30
miles will enable the Ironstone to be delivered is Wales at • re-
duction of as per ton, making a price less than it could be raised
in Wales or imported. and will recurs to this railway, above all
other routes, the great desideratum of back mineral carriage.
Arrangements have been made by which the traffic of some of
the principal Ironstone estates In Northamptonshire, lucluding a
considerable portion of Lady Palmersten's estate, la secured to
this Company.
Al a proof of the remunerative nature of mineral traffic to •
railway company, it may he mentloaed that the exisilng railways
in Greet Britain, whose receipts are principally derived from
mineral tragic. are the best paying and moat valuable railway
properties in the kingdom ; for instep ce, the Taff Vale Railway,
53 miles in length, of which 38 are double, end ..:0 single line.
constructed at a cost of about £2.7,000 per mile, carries over
three million toes of minerals one way, and eons aed per mile
per week, which milers a dividend of to per cent. per annum :
and the ordinary LlOO stock of that compony is now worth £lOO
in the market. The Fa.t and West Junction Railwae sty,
for a
double line, will cost £20,030 per mile, and will, as imd,
earn £llO per mile per week.
The advantages of this line may he thna summed up :
Access to the best depots for coal in London.
Back carriage over two-thirds of the whole distance between
London and South Wales. in which two-thirds is included the
entire length of this railway.
Unlimited supplies of coal in South Wales, with an almost un-
limited demand for coal in London.
Great and inCrtalina requiremeas In South Wales for Iron-
stone found
over N which ironstone must of
necessity, go over this railway.
The existing routes tor owl onveyance of coals from South
Wales to London are as fo:
1. By sea, which is nearly four times longer then the distance
by railway, and cannot compete with the !Away when the rates
are reduced even to three.eighths of a penny per ton per mile.
S. By the Great Western Railway, vul Worcester and Oxford.
to Paddington. This route is the same, in point of distance, as
that by this railway, but it has no Mineral return tropic.
3. By the London and North Western Railway, via Dudley and
Birmingham, which route Is 30 miles longer than by this railway.
From the foregolog dataal it m
ust belike assumed that a
of traffic of at e
least 1,000,000 tons of ,oa quantity ironston
will be attained. The paseeuger and goods tragic from
the important districts through which it especiallyno be
taken at less than g3O per mile wield,. when it
Is borne In mind that an Immense traffic already exists between
Worcester and London in which this Company must participate,
Taking three-eighths of a penny per tulle for minerals, and taking
the wo• king expenses at 40 per cent. for minerals, and 50 per
cent. for eeseetiger and conlmary goods trete, will she the
following results:
Passenger and ordinary goo is trefSc, at 8.50 per
ndle per week. over SS miles .... ... . ....... C. 61.100
Deduct working expenses at efi per cent. ...... 65,7.0
-- L 15,740

3llneral traffic on 1,000,000 towcoal
99 II
1.000.000 1000 irooltooo

2,e00.000 at three•eighths et
penny per .........
Deduct working expensed, 40 per cent.........

ies,l24
. 41,119
.----- 61,375

87,615

12,000

Gross wort
Deduct interest on t 200.000 debentures
Deduct dividend on proposed preference mbar.
capital of .C 300.000, at d per cent.
--- 30,000

Available for dividend on present Dane of ordinary share
capital of 1.300,000
Being at the rate of nearly 20 per cent. per annual, or if distri-
buted equally over the entire share capital, giving a mean divi-
dend of nearly 13 per cent.
The works, the ant sod of which was turned in August, 1864,
by Lord and Lady Palmerston. are now far advanced, and will be
completed for a single line within eighteen months, and arrange-
ments have been made with Mr. Compton, the contractor, to
complete the double line within the total capital above men.
tinned. The addition of the second line of rails, the land for
which has been provided, will, it is expected. be completed
about the wee period. The contractor has agreed to pay in-
terest on the capital now offered for subscription at the rate of
fa per cent. tar annum until the completlot of the single Una
The passing of the act during the Fast session for a line from
Stratford to Woreetter will give a second and a shorter route
between those points, and title most materially increase the
traffic to and from the Spoof the East and West Junction. The
peg Bing, f the act authorising the line from Stratford to Worces-
ter and the great prospects of this undertakint render it desir-
able to provide for the doubling of the line, and the estimated
mean profits available for dividend, if distributed upon such in-
creased capital, will give nearly 13 per cent. per annum.
The authorised capital eg the Company is 1.300,000, in 16,000
shares of £2O each, and £lOO,OOO debentui ea.
offered will be re-
The subscribers for the 1000 shares now
quired to pay as under :
£1 on application.
£4 on alloent.
Mat Detmcember. 1865.
ES 21st Match, 1666.
£5 2Lst June. 1866.

FORE OP APPLICATION.
UST£3OO.OOO In WOW Shares of 00 each.
THZ AND WEST AY
To Mesas. Knight, Dale, and Co., RoyaIRAILW lichangabuilCOMPANY.dinp,
London, L C.
Gentlemen,—Having paid to Masers. Smith, Payne, and
Smiths, the aunt of being LI pa share, I request you
to allot me of the above shares, In conformity
with the prospectus homed by you, and I hereby agree to accept
such shares, or any less number that may be allotted to me, and
to pay the further sum of gt on allotment thereof, and the In-
stalments when due, according to the terms of the proem-am
I am, Gentlemen, your obedient servant,
Name to full
Usual signature
Address in full
Description
Date MM.

THE OTTOMAN
lONS OGYPAFORNYTILE CAPIT (LIIIITIDI INVITE APPLICA-
TAL OF
TH.Z BANK of TURKEY (Limited).
(Incorporated under The Compunes Act, leet"
llmttleg
the nabildy of the Shareholders to the amount subocribeel.
Capital a 1,000,000, to 20,400 Shares of L6O each (with power to
Spar
First Issue 10,000 Shares.
Deposit Ll per Share on application, and £4 on allotment
Where no allotment is made to an applicant, his deposit will
be returned in full,
Calls not to exceed LS per Share, and at Intervals of not less than
three months.
DIRECTORS.
William G. Barnes, Esq., Mesas. Barnes and Co., Merchants,
Upper Thamenstreet, Loudon.
A. K. Dyer. Esq., late General Manager in Ceylon of the Asiatic
Banking Corporation, The Slasor•bouse. Hanow•road, London.
J. Lewis Parley, Esq., Director of the Ottoman .mpauy.
Loudon.
MaJor-General Alfred George Goodwyn, late Royal Engineers,
Bengal, Ifft, St. Stepbetis-aqusre London.
Alexander If elwen, Faq., Mama Marren. Bryson, and Co.,
lasgow, irecto of the Buffalo and Lake llama Rail
G way
Compan.;, Dand r
of the Grand Trunk Beltway Company of
Canada.
11. 3. Marsden, Esq., late Manager In Bombay of the Mumma
Mercantile Bank of India, London, and Luna, de, Kensingtell-
ganiensequare, London.
Edward Muybridge, Esq., late merchant, Ban Francisco, 4,
Bromptonequare.
Thomas Palmer, Feq , DireCtOt of the Ottoman Company,
London.
The fiat Maurice Berkeley Portman 6, Prince'Hiate, Knights-
bridge, S.W., and Bryanston, Blandford, Dorset.
BANES:BA
Messre. Prescott Grote, Care and Cave, 112, Threadneedle-street,

-i----)a-c,i,-.--- -
The Agra and Mattawan's Bank, 10. Place Vendome, Paris.
Subscriptions for Shares will also be received by
Means. De Waal, %Vital and Co., Antwerp.
J B. Bitene, Esq.. 8.8.M.'s Consul, Aleppo.
Y.".eurs. tjaur'Bßatantliaaßnerto., Repent.
N. Sam. Astruc, Ranker, Bordeaux.
Messrs. J. F. sad L. Do Jardln, Banker, Bruges.
U. Sandison, Esq.. B. 11.M.'s Count, Brlll.l*.
M. de Revelaky. Auto' k trend! Khan. Constantbiople.
liesua. Cf. Dabs& sad Oe., Beakess, Mane.
The European Bank. Maraellien
Messrs..). L. Griner and Co.. Marseilles.
Richard Abbott. Esq.. :Would.
Meters. Maurice.
M dB, and Co Smyrna.
,
Le Chevalier van Lennep, Dutch Consul-General, Smyrna.
La Banque Royale Wurternbergeoise, Stutgard.
C. Borrell, Ksq,„, Consul for Spain, Volo.
SolaerrOits—liessra Courtenay and Croome, 9, Gracechurch-
street, London.
____

EROLERS.
St. Vince Messrs. l'pward and Prescott,ls. Throgsnorton-street, London.
k
lielAnt. Kerr. Anderson, and Brodie. 133, nt...Wee
Glasgow.
Messrs. Jackson and Barclay, 1, Browns-buildings. LiverpooL
Henry Woodhouse, Esq., 5, Marketplace, Manchester.
SECRETARY (pro tonn—B. Lambert. Esq.
Teroporarg Otlices--aty Bank Chambers, Threadneedle-street,
London.

IPROSPILCTBS.
This Company b formed at the express solicitatfon of inerchsnts
and others engaged In trading and monetary operations in the
Ottoman &DOM for the purpose of extending to the mercantile
COMMIMIty of Tui key that legitimate aid which,. in more
favoured countries, Is rendered to commerce by well-conducted
banking institutiotui.
The enormous development of the trade of Turkey within the
past few years has not been met by any continuous Increase of
backing facilities; and when it Is considered that the total Im-
ports and exports have risen from 049,000,000 in 1852, to up-
wards of £80,000,000 In the year 1864, some idea may be termed
of the vast and profitable Belo which is open to a bank con-
ducted upon Xnalish principles, end managed by gentlemen
possessing a local and practical knowledge of the country.
In the year 1851 the total number of vessels that entered
end cleared at the port of Constantinople was only 13,00),
tonnage 2,897,216; while in the year 1864 the number rose
to 40,922, tonnage 7,433,065. At the port of Smyrna the '
total Imports and exports in the year 1854 amounted only to
£4,466,525; while in 1884 they Increased to £8.60,604. In these
Feat anises of Turkish commerce there is but one Joint-stock
bank in existence.
The Ottoman Bank (La Banque Imptriale Ottoman} I. the
only bank In Turkey, and the profitable nature of its operations
is evidenced from the price of its shares, which, with £lO paid,
are quoted at £l6, while the last dividend amounted to 15 per
tient. per annum.
The operations of the Bank of Turkey will be sbictly confined
to bulking bodiless, to the exclusion of anything connected
with the business of a merchant. It will assist commerce,
while at 2 e same time it will &veld on its own part all inter-
ference with, or competition in trade. This feature in • bank
for Turkey ts of pecudar value, and will secure at once for the
Company a clientelle of the mat unexceptionable and profitable
character.
The Bank will afford facilities to merchants i this conntry
and on the continent for the negotiation oflr cone
on
correspondentst for
Turkey.i
re. may be addressed, In the annexed form,
to the Jil•ectorso, rand copies of the prospectus may be obtained
at the offices of the Ottoman Company, 20, Threadneedle.street,
or at the ollices of the Bankers, Brokers, and So icitors ; but no
application will be considered unless a deposit of £1 per share
on the number of shares applied for has been paid.
Copies of the memorandum and articles of association may be
; obtained at the offices of the 8 olicitors, or at the temporary aurae
of the Bank. Copies will be forwarded by poet, without chairs,
on application to the Secretary.__

TORN OP APPLICATION TOR MAR IS.
(To be retained by the Hankers.)

No
To the MeCtoll of the Bank of Turkey (Malted).
•
neutlemeu,—Haring paid to your bankers the sum of
the
company, I hereby request that you will allot use that number,
and I agree to become a member of the company in respect of
such shares, Of in respect of any less number you may allot me,
and to execute the articles of association when required and I
request that my same may be placed on the register of members
for the shares so allotted.
Usual signature .
Name in full ........................
Residence ....................
PrOtellioll or boolooos ................
Doge ............

OVERCOATS.-HAMILTON and KIMPTON
call especial attention to the NEW
.B.
WINTER
same. 06 los
0 VERCOATo, and te on early tospocuon ot the
Specimen garments always on hand.
No. 105. Strand, oppoalte Eimer HAIL

BFA), and Co's OVERCOATS sad SU,Th. --
Morning sad LounalDß Coats, Half Drev, Cadres', and
Full Dress Suits, Troupers. Vadat to., la all the fashionable
st" les and seasonable matedala
RYAS( and Co., as and 67, OXFORD-STMT, W.
I..jrYAMantfCo.'s PRICES and GARMENTS.—
Overcoats and Capes, nu to Sm. Jackets. Sts. to 426.:
Pribee Of W aka Costs as to as; TrOWer. Irlde and to
Int:lmre, Hs. Id. to 25a. . Vesta, Oa 6:11. to -Is 425. to liNa
liYAlt and Co., 60 and 67, 01FORD4ITRILIT, W.

HYAM and Co.'s BOYS' SUITS sod CAP'S.--
Overcoats and Capes, 16a. ed. to an; Lakkerbocker,
Me, Harrow, and Osborne Salts, Its ikt. to 46a.; Jackets.
Ss. dd. to 2ta; Trousers, 8.. 6d. to 16s 60.; Vista. dd. dcl. to
7s. 6d., Jackets and Vests alike, Da 64. to 275. 60.
BYASI and Co., 66 and 67, oaroaDsrusr. W.
_____-----

-_______------- - --_
-ll YAM and Co.'s SELECT DEPARTMENTS --
No. 1. Cinttdas for immedlaW wear. No. L Ordered De-
putasut. No. & Boy( and Youths' Department. No. S. Bala,
Caps, Beller& and Outftt Department W.
RYAS( and Co., 48 sod 67, OLFORD-STRUT.
Branch EstabUshesenta—Birmlncham, Leeds. and Dewsbury.