The Express.
London, England, 1865-09-25 00:00:00

ARS. MONLY WIGRAM and SONS' (of
WJ London) Ll'•i of STKAII and PACtilt
sairs to At TRALIO.— N P.L.B4IURN it, Port Phillip, direct
We the Docks on SATV RIMY. llst October, castling at
th), the splendid clirper ship ISUASILX., 1.100 toss,
hi DOERS, Commander , Wog In the Bast lodia Itovkn
Her erroannodstionv for oil clause ut postmasters are uh.p...4
ant she will own so owe. Worn.' moven& For freight or
.0 to AL, PoRT sod MORGAN, with Mourn YONYY
*IGRAM sod SONS, 7, Ithdenhall-street

STEAM BOURN E and SYDNEY .
Tot splendid new ocean steam clipper HIM KING,
too tons. i.eoo horse-power commanded by Captain JOHN
rail (late ot the TiPtree and Hsa LAC, to Irre the East
teela Docks 15th Noremle r, and Plymouth the bah Nevem-
.... Ibis munificent ocean steamaM. Ma been especially de.
eed tot,. A pomattes, and fitted espremly for the passenger
rrdCie trade to Matteis and thine. Win carry an ex-
surge nod is hoed with all modem Improvements
the comfort and health of the pie-ampere. —Par pullettlars
apply to Kt 11IKTCON and York-chambers, 06, letup
ummester, and No. 0. Newman's-court, Ocuthill. Lou-
-ace. Le _

STLUI FROM LIVID. FOOL OR QUER/MOWN TO
NSW YORK. TWICE A WEEK.
T" LIVERPOOL, NEW YORK, and
YRILADILPRIA STY.AII-81112 COMPANY Wend de-
emagnobsir rug.ponered Clyde-balk Ira. Sisreer
carrying the United Ststre mails,
FROM Lrnuspontler WSW YORK.
CITY OF WASHINGTON. Wmnseeday. Sept. TT.
CITY oF MANCH IDTTIIR. :isturday. beta. sc.
CITY OF LONDON, Wednesday, Oct. 4.
Afd vasty wedmiday, and *Herbals Fridays and Saturdays.
Calla wage by the mall steamers salsolic=oLiedrasugaz
iy...kn Awe; areerdl,,, to the
poufs said Saturday's steamers. Maness.
f= paw Includes a lull supply ed cooked
~..,:toresvotlona.
Ist Omuta and the United States booked on
larTigeousx.ternsair— Fnribizt.hrt particulars;
or—iflyvZ
sibd MARL ea. X Inglinllamatreet. Labdoc

WICKLAND DOUTIL-UOICIIIINIOATION
by IMAM to INDIA. AUSTRALIA. eta, vtli NOWT
Ifs INNINSULAA sad OLINNTAL ULM NAVIGATION
COMPANT BOWL PABBKNO KIM sad receive Cargo and Pamela
=London Aka for Gibraltar, Malta, VIA, Aden, Cailoa,
Calcutta, Om SWAM, and China. b 1 Ihrlr steamers
=Southampton an the Olt and 90th of men mouth toe
, NADA Egypt, Ades, and Brunbay. by those of the INN
sad 20th of each math and for Mauritius, Liar Geervers
Send. Melbourne, and Sidney, by the steamers War an South.
co the 204$ of every mouth.—Fos further particulars
=:s ths Company's Gllces. 122. LeadsahalLtnet. LC.. La
don: re Ortental-place, :Southampton.

COPENHAGEN, with liberty to call at Malmo
VV sod Stockholm shout) sufficient cargo offer.—The A I as.
gla, Captain JAlllal SMITH, will clear for the above port on
or Moat the 27th Instant has Brat-rata spool:m=4lN= for
—For particulars of freight or passage apply to
LIMA GRAVES, KIILLIPP4 and tb., St. pulsates's
how, SS Denstaeohnl.

BREMEN.—Direct Route to Hanover, Brune-
ye wick. mid Cettral Gertnany.—The North German Lloyd's
tarethißius acme vteinwr ADLER, Captala N BOWDESSEN,
wtY be dispatched frees Floreelydown Oa THURSDAY, the nth
bat (weather peruslatior, at in am, mince et Brimswlek nee,
for peeseagers, at It noon—Pares to Bremen. AS
rnr,ureturo ticketa, 43 and 41 lee—Apply at CHAPLIN'S
Universal Whoa, Regent-etrcus, W.: a to PHILLIP'S, ORA VHS,
?WWI PS and Co., St Dunstan's-holm, St. Dunstan's-MIL LC.

ROTTERDAM and the RHINK—REDIJC-
THIN of PARES—She Netherlands Steamboat Company's
Mt and farourite steamer BATAY I KR, Captain W. Bail LH, will
Sam Brunswick Pier, Illackaall, kVISY BUN DAY M 11 o'clock
• arrital of the train from renehurchatreatStatloa.
Sauced fares: Saloon, CI fia fore cabin, : returo Helen
Word at • fare and a half. —Appl at CHAPLIN'S Universal
Oeca. Segent-eireus, W. or to PHILLIPPR. ORAVIII, PHIL-
LIPPS sad Co., IL Donsfan'alimme, St. Dunstan's-MIL S.C.

ISSUE of £BOO,OOO STERLING BONDS of the
EWE RAILWAY COMPANY.
Bearing interest at Tier is:BC par annum, in bonds to bearer of
£lOO 'tar lug each, at the price of £7l.
Interest at 4 per cent. per annum.
Bonds repayable at I'.loo at the end of ten years.
The Bonds con am a stipulation that they shall be convertible
at any time within that period, at the option of the holder, into
ordinary stock of the Company. at the rata of Ave abares 01100
dole. each for every £lOO Bond.
Principal and interest I ayab'e in sterling money in London.
Free hum all Federal or State teL
Years. J. A. liotgan and Co. are aethorised to offer for
public anhecription the above bond. f the Erie Railway Cora-
peep at the price of £76 per £lOO hoods, wale by loatalmente
as ander:—
RS per £lOO bond on application.
£6 „ „ on allotment.
£l5 „ „ on the Alth October, MS.
£l6 „ „ on the /Atli November, MB.
£l5 „ „ on the ltM Deoember.lB63.
ite „ on the 15tli Jentuup. 106.

475
Taking into account. fn addition to the annual intense which
ecnunencess to run from the let September Instant, the payment
cd of the principal of the Londe at par in 16,75, and the deferred
;stodgier payment of the Instalment. of the subscription, the
shwa to the subscribers will be equivalent to about 10 ger
Peeper annum upon the neue price-1075.
Subscribers may pay the fell amount lu advauce neon any of
the abovevnentioned days, awl open such pay meets eiscount at
the rate of C 5 per cent. per annum will be &nurse& In case de-
lean be made in payment on shut tut, or of any of the instal
Lents nn the days named, the allotment wel be liable to be
=celled, and the amounts then already paid forfeited. Upon
syntent of the allotment money, scrip oeri Inmates to bearer
will be Issued to the suleeiribers, which fs ill be exchanged for
the definitive bonds as soils us possible alter payment of the
whole amount of the subscription. Where no allotment is
Lads the deposit will be returueit In full without deduction.
The following extracts from the agreement between the
setracters and the Erie Railway Compan will show the terms
sad conditions on which the bowie a. yto be Wined by the Coax-
bonds to be issued in pnrsuanee al this agreement shall
be for Eloo sterling. each numbered consecutively In regular
order from 1 onwards, and Abell be in the form hereunto an-
bead. The principal and interest shall be payable at the oaks
of Mama J. S. idorgan and Co., London. Each bond shall be
duty made Slid perfected, and sealed with the common sal of
the Company, and otherwise executed as required by the law of
the State o . New York, to render it binding on the Company,
sad shall have impressed upon it sw.h atamps as are required
English law, and shall ha, e a sufficient number of coupons
'fisted for payment of Overeat half-yearly. according to the
tenas thereof. All the statements, agreements, provisions.
matters aid thl. p COll4liPOll in the said form shall at all
tineshereafter be duly and punctually made good, complied
with. executed, and performed by the said Company to and to-
wards the holder for the time belt g of each boud that shall
be issued by the Company to the contractors.
"The holder foe the time befog of est bond shall, at any
lime befon the pelrcipal neney thereby secured shall tecorne
due, ha re the option, upon delivering to the Cempany such
bead, together with Its coup ens, not then due, at their oleos, in
New York, to Ifs cancelled, to require the Compaq to issue to
his, free of expense, hoe fully paid up shares of one hundred
densest= in he ordinary stock of the Compauy.
"thiang as any portion of the veinal) stoney secured by
SM.of the thane' which shall be Issued to the contract on under
thingreeinent shell be unpaid (bonds which shall have become
ds and for the patient whereof provision shall have
been duly made by the Company, but not actually paid
threngh the neglect or default of the holders thereof, ugly
theneed) the Company shall not directly or indirectly effect any
sew inertgage, change or incembrance on the whole or any por-
es of then line or work', uulets or until it be ate:Dually and
mu provided that all the principal money and interest then
acing OS all or any of the bonds issued to the contractors wrier
this agreement shall be Weeded to, awl duly and legally secured
by, flay such mortgage, thar,..ie, or Incumbrance as part of the
amen in repect of which the same may be created and also,
UM all such further power', rights, and remedies for securing or
reartering payment of the principal money and interest then
wring on all or any of the said bonds Jawed to the contractors
seer thin agreement shall he given to and vested in the persons
allied to etch moneys respectively as may be given to oersted
Y web subacquent morigngees or other incumf neaten."
The tom of bend, referred to to the contract. may be inspected
_lints Men of Messrs. Birchen; Dalrymple, Drake, and Co., 46,
nmaseatstreet, A W.
The principal secured by the bonds is made payable at par on
the Ist of September, 1675. awl the coupons for interest, as the
rate el Leper cent. per annum, commencing on the let Septem-
bff.l46.s Ell be made pat nide hell .yearly oar the Ist March and
Ist September in each year. All payments are to he made in
14040 a. in heriing menu, clear of Federal or State Tax_
Ihe amount ut the lost authorised by the railway company
win t1i000.104, but at is doubtful whether the remaining £200,000
will ever 1 c eeriest, and It will not lu any event be Issued before
the lath September, 1666.
The importance et the option which is reserved to the
te bend-
.._hithe conversioa into ordinary shares, will W. appreciated
by en examination of the following figures, taken from the an
anal report to 31st December, isti.
Dole
186, gross receipts for traffic to 31st Dec. 8,400,336
leff3, ditto ditto .. 10,460,461
ditto ditto .. 13,429,643
%traffic for the half-year ending 36tk June, 1865
ths eilleially reported,
The haat fur the corresponding half-year, 1664

Int:ream for the half-year .... Dols. 1.070,996
This increase le mainly due t-i the development of the resources
11 tba district, to the numerous Coal. Iron. end Oil Companies
Notttlr twought Into operation, and to the opening of Sig
Atlantic and Great Western Railway.
The total length of the Erie Railway and Its branches leased
tad worked I.y the Company is 797 miles. The preference capital
lithe Company, as stated to the last annual report. amounted
St the Slat December, 18dt. to 8,535,700 deli., upon which a dial-
Mist of 7 per cent. was pild. The ordinary stock amounted at
se same date to 19,400,101 dots, upon which st dividend of Spec
"mt. was Paid. The mortgage debt then amounted to 17,09:4400

There 4, as appears by the shove nnuual report, a margin of
lima than four Limes the ainonot of actual net reveme from
eaftlsg tariff applicable to secure the present issue of bonds, as
Ory have precedence over the whole of the 24.935.900 dole. of
MerCatilisl. both preference and ordinary. on the latter of
m already stated, 8 per cent. divideod ha• been paid.
_lt MU have been seen hy the extracts from the contract that
esetahis a spechd proteclive clause precluding the company
kora over.ti•ing the present usue of bonds by the creation of
likelheequt nt security
cations to he made in the form amsexed to the pros.
OfriM, sod left with the London Joint Stoat Bank after pay-
ees& et the deposit.
,Pft•Pec.. times and forms of application may be had at Mama.
*wean and Co , Old Broad-street, Lapdog.
ikd September, 1885.

ISSUE of £BOO 000 STERLING BONDS of the
xOftOtERIK RAILWAY COMPANY.
—Tbe 811118CRI P nos LIST will ULM on TO MAY,
fililoot. at 4 o'clock, tor tondos sad the oouotry, awl co
IlikDk &DAY, at oclock, for the contiotott.
alfmeiber 44134,