The Express.
London, England, 1865-05-18 00:00:00

LONDON, THURSDAY EVINING, MAY 18, 1885.

TEI NATIONAL BANK IS AUTHORIAILD TO 1112CRIVX
SUBSCRIPTIONS FOR TEI SHAMS OF TEI PIGWYLLN
RAILWAYS COMPANY, ON PRI TRIMS OF THE FOL.
LOWING PROSPECTUS.
DIRUVIAN RAILWAYS COMPANY
(Malted).
With Peruvian Goveruseent guarantee of Interest at the rate of
+ll7 pe
tal of osat.34o. per annum, as hereinafter set forth on a tetra
capiooo.
Present tone, £1,870,000, In 60,800 shares of MR seek.
Deposit Al pmaren on application, and AS per share on allotment.
Future calls of At 10a per share will be made at intervals of not
team Ikea three months between each call.
Siren per cent per mum will be paid dada; the coestrustims,
sad to poaraoteed by the International Contract Companl
(Limited).
1111111.01111.
William Latham Bailey, (Batley Brothers and Co., Liver-
)
i-Carter, Eu. (Joseph Robinson and Co., Laurence Pountney•
MR)
John Ennis, Req., M.P. Director of the Bank of Ireland.
P. & Snitcher, 'Yu. (Alexander Fletcher and Co., 10, King's
Armload.)
S. 0. Getty. Du., M.P. for Belfast, Ondowequare.
W. R. Lindsay, Fag. (Masan. 11. H. Vivian and Co., Mr-
Et )
teraird , Beatles Ironworks, Bradford.
Albert esoardq Ina., Angel.court, Throgmorton-street, Director
of the National Bank.
Robert Simpson, Bea (Frederick Lorick and Co.), chariots
row, and Caro Celyn Ironwork'.
London—The National Bonk.

Liverpooi—The National Bank of Liverpool
Manchester—llm Manchester and Liverpool Distriet Bank.
Ireland—The Beak of Deland, aridity Branches.
„ The hashes of the National bent
"OXIMAOIO/1/1.
The International Contract Company (United).
nonlitine.
George Parker Bidder, CZ.
John Mortimer Hemel, Esq., C.L
00t1OIT0118.
Mears. Benham, Dalrymple, Drake, and Co., Pediment-,
Mena Bow, Norton. and Co., Victorisatreet.
"loxes&
London—Mums. P. Ceseneve end Co., Thrennoselle.Mn
Mena Seymour sad Co., Thromoortunstreet.
Liverpool—Mese% Thomas Tinley and Sens.
Manchester—Menes. Warner sad Page. Stamp 0,
Dublin—Bdwerd Fox, Esq., Denteetreet
Sicinriftr —B. A. Ebner -
Mad 116. Oseatentreet
This Company is formed for the oonsioneMonand woeklea el
two Uses of railway la Pere—one to connect the seaport of Plano
with the town of Toe ; the ether to connect the deg of Arequipa
with the part of 1141..
for the eonstenction of these railways the Government
of Peru have granted special concessions, sod • guarantee of
Income, which would smear exorbitant, If It were sot that the
statistics et the einettag teams here nestled the Peruvian Go-
vernment that the railways, when at work, will yield returns
which will not only relieve the government of the charge for
their guarantee, hot tar exceed the sum required for that par-
pose.
The Peravian Government guarantees for the period of twenty-
five years—or until the railways have produced, over and above
the cost and provision for repair, renovates, sad mention's,
for the space of two consecutive years, dividends at the rate of 7
per cent. per annum—an Income of /1:13,S00 per annum, charged
upon the public eresenes offthe State, and further moored by
hypothecation of the gun shipped to Europese Stated The
concessions for the railways contain the usual provision for re-
imbued's to the goverment (oat of soy surplus pent exceed-
ing • leper oast. per annum dividend to the shareholders) such
same, if any, as nue have been paid by them to cover their
german
The oemseselone of these Bess of railway Eros the Government
of Peru is for • period of nlnety.nine years from the °ponies of
the railways. A suitclent sum will be set apart to form a sink-
ing fund for Use redemption of the whole cud/4 eta minium
of £lOO par °eat., to be operative yearly after the UM two/
yaws of the working of the railways. shares so redeem
to be altogether essecolled. and the divideadewhieh wand other-
wise be untie on snob name to some Wand form psit of thp
sinking fend. Atter the first fifty years the prices% which shares
shell be redeemed and cancelled shall be regulated et each higher
or other pia thee Aletiper ma premien se the state of the
eaten, fund shall
When It is bone In mind that the Peruvian Government Loan,
bearing 44 per cent. per annum inteend, previously borrowed ea
the same security, Is tepidly le the nonce* of extinction, It will
be quite evident that, irrespective of the prospect of • much
higher rate of dividend being realised from the working of the
railway, Menages ot the security Mould obtain a ready market
for the shares of thisComisay.
The prospects of revenue from the working of the railways are,
however, so great se to render the government gurentee Ss
other needs so Important; • feature of but secondary conside-
ration.
cohe lb: public of Pan leas • menet,.
Lot nearly 1,600 mites, and
arm f about . sq There iv, no
country in the world in which the elements of commeirfcaffilirce.
perky en more complete. The mineral products of all kinds
with which its Interior provinces abound, combed with its ins,
stretch of coin, give It an almost unrivalled facility for the &-
of oomanerce on the most extender men To this
on obstacle—and one alone—exits: the want of
proper means of communication between the ports and the ineo
dor coney.
In spite of this obstacle, the large existing Made of the Re-
public Is proved by 1M custom returns ; and that nedertekings
having for their object the remedy for this defect are likely to
he rembeerstive Is shown by the working of the Callao sod
Lam Railway, which now peas dividend; at • rate approaching
1.30 per cent. per =RUM on the original coat of coostructlou.
The ordinary charge ter the smanyanoe of goods per mile in
Pent is noel to the charge for the carriage of • like quality
in Greet Britain fourteen miles
The construction of the railways to be undertaken by this
Company will establish oommunication between Important
centres of commerce in the Interior and the proper ports *a the
see coast.
The One from Mega to Arequipa is laid out to serve the trate
which at present takes the route from the hater city to the port
of Islay, • route which forms the main Maned of communics.
don from the coast to the districts of Arequipa, limo, end
Cusco, and the northers portion of Bolivia.
The connection with the last-mentioned state is Important, as
the oatabliebtoist of • 'ratan of railways suitable to Its own
wants is now a subject of serious Menden The railway now
would form one of the main outlets of any such system
to the of the Pacific, • drcurestanosertdch alone mut
sector it • considerable additional triune cr the most rannere-
ere
The railway from risco to Yes is proposed to be constructed
under conditions analogous to thou of the Callao and Lima line
already referred to.
Prom the easy character of this line, and • large existing
treflic in the district to be traversed, It is evident that the
net revenue must greatly exceed the guaranteed mount.
The lengths of the proposed lines ere as follows
MOM to Arequipa
Risco to Yea

Ith, Eau.

Total US miss.
A contract for the construction of the lines baa been entered
into with the International Contract Compel (Limited). 60"
cording to the estimates of O. P. Bidder, Isl., CI, and J. M.
Rappel. leq
In accordance with the terms of each concession the Company
will be converted into a Societt Anonyms with shares to bearer,
or, if necessen, tato two Oscines Anonym's.
The capital of the Societe Anonyms, or goad& Anonyms,
will be 63,340,000, to be issued In shares and hoed'.
The present Company Ins been formed ea a Limited Liability
Company, the shares in which will be exchangeable for shares
of a like denomination In the &rift* Anonym,.
Copies of the articles of association, of the contract, and of
the acts of concession, with translations, are open, at the offices
of the Company, for Inspection by parties desirous to become
subscribers, so that they may make themselves acquainted with
all the provisions and conditions of such concessions.
The deposit paid on application for shares will be forfdted and
the allotment (*nettled in case. where the further payment oa
allotment is not duly made in accordance with the terms of the
allotment letter.
Applications for shares most be made in the annexed form, ad-
dressed to the Directon ; but no application will be considered
unless accompanied by the receipt of one of the bankers of the
Company for Al per share on the number of share' applied for.
This sum will ha returned in the event of the application not
being acceded to.

nittrvux RAILWAYS COMPANY (kited).
MON ON ANIMATION 7011 MAW.
(To be Lett with the Benham)

No
To the Medan al the Permian Ballwin Campy (Limited).

Gentlemen,—Earlag paid to the - - -
Bank
the slue of S beteg Al per share en shares,
I request you to allot me shares of £25 mot le the Peru-
vian Railways Company (Leaned), in cceformtty with the pro-
spectus Maned by you. and I hereby mares to become a member
of the Company, subject to its uncles of woolen= ma regu•
tattoos, and to some such *hers, or any lees number the! rawy
be allotted to me, and to psy the further sum due on enolommt
thereof, sad I mount that my name may be placed on the re-
gister of members la respect of the shares 'Hotted to se.
I am, Gentleana,
You otodlialsarmat,
Naas In full
Address In fun

Forms of appßestion for shires sad peospestems may be bed
at—The National Beak, London; the -National leak if Itesr•
pool : the Bask of Ireland, and Its several Wanda& belted
the brenelms of the National Bank !relied : at the tam of
the Brokers of the Company ; and at the dikes of the Interna-
tional Contract Company, 83, Quiztemstreet Week Loadem, LC.

SCIIINTTTIC INSTRUMINTS, PHOTOGRAPHIC APPA-
RATUS, Re.
MILJ. C. STEVENS will BELL by AUCTION,
atbis Great Room. SS, Klogetreas, Covent-prden. TO-
MORROW (Pridayi, May Ilk at half past IS precisely, as isweri-
sant of RUC ROSOOPIS, talesoopee, comma, and lenses of embus
dam sorressa inanuaents, dissolving view lanterna, and vs.
Hely et diem tar Melo, electricals, minowsopia sad Aida, and
a great variety of suilleiilLlK.lll Items.—On view day before and
iscestre aisle. and catalogues bad.

OXFORD.—This magnifioent establish-
mast, newly decorated, ventilated, end thatted, ts open for
the weer seseco, with troth candidates tar favour, new Or,.
tittreitleisc:Msis, do. Tee Geode when suppled by tits bast
• West, and wary other deparineent carefully entailed
09.11 at sight Welton. dandelion : Area, Id. ; dale
and balmy, IL ; private bores. 10s. ed.

WHOPOILITAIf MIYERO HALL, Edgware-
ma. --139•1 et get Pf 01011,0? BilVellieel improved
mnriniaddiA Zit Abode of the Queen of the Naiads. By
Cid Tame. of the LegitiOwe ,mate Cono,
Albert Biagio. The Ciarfashrm ei eine. ILAITIIA.
with full bawl end Chorea. llfgagir and limieel Bereoleg,
J. J. POOL&

PER. DOZEN QUARTS :—Basnjolais (Paris
: at &alien Olerea lan
llt : Wiz Sttenr,lna misted perk nee. Tit dossaaVZ
Plats :—Piore White Wine Orleans Viaegar, 6a. Id..
Invalid aeon 2a. 9d. Weis Wine sent ter price .ert.
extra in sisassa—GSOßOZ Intouldbant-eireet,
elen4qaut. W. la. per delis Kira aberpd and allotredßriD
and Willis.

Moe 'impasse.
quiz PALL-MALL GAZETTE, An Evening
JL Antipapmewsisildr, bul al the Nein el
as a lup es
ariglasl stadia es Pandas, Liidell
aa—Mse, tfaitbarreireet. !Ursa&

B. OULVIIILWILL an MARRIAGB :
Hogra
~sol
US
Wgtll. OesshDl :
THE PANTHEON TOMER BATHE, b.: Oases, PM
WS, day. Hadaps. At Dr. o.'e podessioisol 'aldose*, O.
GISMO liarthoeonSolzeet, W. A 1.., the Pos.alce Grad
Torldsh Bala L. 6L, 19, EL NartlVe4s.Grasi. LC.