The Express.
London, England, 1865-07-13 00:00:00

METROPOLIS SEWAGE sad ESSEX
/tROLAMATION 00XPANT.
IlloOffilarabod bb lipechil Act of Pareament.
Capital SA 100,060,
la MAO scrip oertificates
dof AlOO
of Al each,ac to be hereafter divided
lato ame ois
Deposit, on spoliation, AS per certificate, with anther payment.
of 4.11 on alto matt. sod 410 on 2nd October nest
The subscribers will, In exchange for their letter of allotment
sad banker's ra slot, moire aerie certificates, which, on pay-
ment of Moe= of 410 (payable on tad Octob r as shove) will be
embalmed, under the provision. of the Act of Pediment ter
registered Mama of LlO, and the shareholders will to credited
to the books of the Company £2 In respect of 'sob meowed
dam.

The Right Hon. the Lord derin J. lambert, LK.
0. Tabley. Joseph S. Dumber, Seq.
Solater-Beetis. Bee., M.P., The Hew. Reen W. Petre.
!)debts of Sewage Cesemle Car fit dlilliam Beseall. Etat,
1eee.1.84 and 1951 C. 8., SL P., Member of Sewer
The Lord Richard IL Browne. Committee, 1884.
Jame Padden Currie, IR. Mann the Hon. it P. Vender.
Maarice. Srammond, 14q. J. W. Perry Watliegton. laq.,
Alimihnelt.C. GROWN, Baq. M.P.
Salatinea.
G. W. Hemline 1hq.,C.11,4te. I.T. F. Bateman, Req., C.Z.,
1111.1., de.
COPM7I.IIIIO MEM! - Pro leer J. T. Way,
Member Of the R.) al C 0111111.11110.1 en Rama, and of the late
Royal ementimioe on Sewage.
Balm!.
Mewl. Glyn, Mills, Currie, and Ca.
Mears. Drummond
Meows. Span ow. Tufeen, and Co. (Zearie),
The ‘,WNII Bo it of See land a d Breeches,
The Untie Bank of Yantilsesto,
The Bank of Ur- ewer, will also receive
The Birmingham Banking Ca , Subscriptions.
J. Barber Kenn-dy and Os. (Dublin),
The Northern banked Co. (Iletfamt.),
901,lerzberi.
Mews. Baxter, Rose, Aortae, and Co.
Yearn West and King.
Wang.
Mews. P. Commove and Co.
Mmes. Seymour and Co.
illeentene (into erw) —Walter A. Michael, Req.
Odtom-40. Thimdusedleatrest.
The International rittanciat Society are autboriaed to receive
subecriptioes for the share tippet of this Company, which has
been incorporated by Special Act of Parliament for the purpose
of edited!, the sewage of the northern area of the metropolis,
the ociaceedou of which has been granted to Messrs. Napier
and Hope.
The sonceadou from the Metropolitan Board el Works to
Mama Napier and Hope as sow confirmed by Act of Parliament
le scheduled to the Act, and both may be inspected at the OSCAIS
of
The the Companby.
tio encmn has been vested In the Company on condition
of the paymint to Mews Napier mid Hope. under the provi-
aims of the act, of 00,060 la folly paid.up shares of the Can-
ning, and a small aostiegeet per centage of the net profile.
The concession recites that, In the opinion of the Board, the
work. proposed by Mew, hairier and Hope are calculated to
effect the three following objects, namely
I. To divert the sewage front the Thames.
2. To r. oder It inseenons, by its applicatice to growing craw.
1 To TWIN she greatest money value of the manure con-
tained in It
The first article confers upon Mears. Napier sad Hope " the
absolute mad exclusive right to and property in the sewage,'
for a period of 66 years from the pamlng 41 the act, but makes
the following provision in reference I. the application of the
net profits* resulting from the scheme after the expiration of
four s earstrom the panting of the act. Previous to the expire
doeM that period all the profit regalia to the Company.
After deduction of the annual theme for " mosey borrowed:*
and of the wopprkt2 and eitabliahment expenses," the net
profit shall be a
Ist. in payment of interest at five per cent. per annum on the
share capital.
Sod. In payment in equal moieties to the shareholders and the
bletropoUtae Board of the further crafts up to In per cent
perSrd. In Melaka of profits exceeding 16 per cent. and uf3Vds
betweenrt theshershokters and the Metropolitan
in the propotOn of One-fourth to the former, and three-fourth;
to the titter.
nth. After t 5 per cent., the division again to become equal.
The object of these stipulations k that while the Metropolitan
Board are virtually to receive half the mt,a, yet that, In order
to give a greater sternly, end tbmanre greater value to the
domes, the skarehoiders ue to have preference to the extent
of 5 per tent., which Is made said to the Metropolitan Ward
between the points of le and 25 per cent, at which latter point
sash party receives 12{ per cent., and the diviaton Is then con-
tinued equally. Thus, the Share Capital of the Company derives
the advantage of the entire capital• approaching three millions
sterling, expended by the Board on the North able of the Themes.
for the collection of the sewage at the point of Its delivery to the
Company.
At the expiration of 36 years the Beard have the right, on
giving two years' notice, to require a revision by arbitration of
the above apportioomeat of profile.
The concession stipelates for the construction of a circular
brick culvert, 9 feet 8 Inches to di meter, shown by she red line
on the map accompanying the prospectus and running from the
Northern Outfall rawer to the East Coast of Essex, and further,
for the reclamation of the tract of foreshore and send coloured
pink on the map :about 7,000 acre •). The intention being to
Irrigate the lands in the district through which the culvert
pumas, and to %dines the surplus upon the reclaimed lend
A contract has been en wed into with M.. W Uliam W beter
(who has constructed more than one-third of the Main Dm n age
Works of the metropolis, Including the Crossness Outfall), f r the
construct°u of the works mentioned above, together with the
petrel:my pumping stations. for the sum of zi,asame. To tit a
most be added the amount to ,e pal to Messrs. Napier and
Hope in shares, as before mentioned . the cor. of land, engineer.
lag, parliamentary and legal expenses, sup Anteedence, and
management, together with interest at 5 per cent. pee annum on
the capita during the meant Bon of the culvert, estimated at a
total of £514.652. le all, £2100,000. The A t a•ithoriees •he
Directors to raise the amount of 1700.100 In debenture but
of Ads, as above shown, only £300,000 will In all probability be
"uired
'he Company have the right of taking, without any payment,
during the first four years. as much of the sewage at they can
utilise. Pro. this source an immediate retur maybe obtained,
so that the return epos capital dude' construction should be
much in • rasa of the Interest provi e&
On payment on the hid October next of the £lO per certificate
thee due, the certificates of £lOO will be exchanged for regis-
tered shares of £lO each.
According to the calculations made the eventual revenue of
the Company is estimated at about £710,000, and the working
expenses and management at ristooo.
Applications In the annexed form should be left with the
bankers, who will not, however, receive any applications unless
accompanied by a deposit of £2 per certificate on the number of
certilicates applied for. le eases whip, no allotment in made
the deposit will be returned lu full, and should a smaller number
than le applied for be allotted the balance returnable to the
applicant will be applied towards payment of the amount due
4.n allotment. In cases where an allotment In made, the deposit
paid on application will be liable to forfeiture if the balance due
• on allotment be not paid trio his the term fined by the letter of
allotment, and the allotment will be liable to cancellation.
Default by subscribers in due payment o' the £.O per scrip certi-
ficate, payable oa tad October, 1865, will, la like moaner, render
the scrip certificates subject to cancellation, and the amount
theretofore paid thereon to forfeiture.
• Prospectuses and forms of eppl cation may be obtained from
the bankers and brokers, and at the offices of the Company, No.
r 00, Threadneedlwareet, ILC., Loudon.
r METROPOLIS SEWAGE AND EONS RECLAMATION
COMPANY.
PORN 01 APPLICATOR FOR TIARAS,
To be led with the Banks.
Ro . _ •

To the Vtrecton of the Metropolis Sewage and Essex Reclamation
om pany.
Clentletnen,—Ravtag paid to the sum of E being a
deposit of EL per CeM.Sate on Certificates, 1 request you
to allot to as Certllleates of Inn& each in the Metropolis
Sewage and Paws Reclamation Company, in conformity with
the prospectus Lamed by the International nonacid Society
(Limited) ; and I hereby agree to accept (subject In all respects
to the terms of the WE tau) each Certificates er any lees
number that may be allotted to ms, and to pay the sum due on
allotment thereof, at such times as nay be fled by the letter of
allotment, and to pay the further mu of £lO par melange on
2nd October, 1865.
1 am, gentlemen, your obedient servant,
Signature
Nome in full
Address In full
Reference
Date