The Express.
London, England, 1858-01-21 00:00:00

PROGRESS OF THE RUSSIAN RAILWAYS.

The Russian railways are making favourable pro.
(gess. The work of construction has been for some
time organised under the supreme control of Mon-
sieur Collignon, Inspector General of Pouts and
Chanaskes.

A section of nearly 140 kilometres (87 miles), from
St. Petersburg to Longa, was opened in December,
and is in complete working order. A second section
of similar length, from Longa to Pskow, has been
entirely finished during the season, and rill be open
to the public in the spring: 3n a short time, another
section of 50 kilometres (31 miles), now commenced,
will be completed ; so that before the end of the
year the journey from St. Petersburg to Warsaw
and Berlin will be already shortened by 25 to 30
hours. At the same time, while hastening the con-
struction of this line as far as ceninsberg—which will
be finished by the end of 1859 or the beginning of
1880—the company are preparing plans for the re-
maining sections ; the most important of which will
be commenced in 1858, and be rapidly. completed.
The result of the first undertaking is stated to be
decisive as regards facility of execution, pima
labour, and materials. Surveys, more complete than
the earlier projects of the Russian engineers, have
led to advantageous alterations. Upon a single sec-
tion of the western line the company were able to
collect 16,000 to 18,000 workmen, but refused a like
number, and could rarity have procured treble the
amount had they been required. Several native and
foreign contractors have offered their assistance, and
the engineers and agents of the company find valu-
able and extensive co-operation among the popula-
tion and local authorities. The result of the labours
of the past season is highly favourable, both as re-
gards the progress of the works and the sufficiency
of the capital guaranteed.
In order that the importance and utility of this
enterprise, embracing a group of 4,200 kilometres,
may be understood, it will be sufficient to state the
direction of the lines, indicating each by a few
words.

I. St. Petersburg to Warsaw and the Prussian
Frontier.—A communication between the capital and
Germany and the rest of Europe.
2. Moscow to Nijni Novogorod.—A junction of
the Volga and its immense navigation with Moscow,
St. Petersburg, and the Baltic ports.
3. Moscow to Theodosia.—This line traverses for
about 700 kilometres (438 miles) a seen exporting
country, touches upon the coal pits of Donets and
the salt-works which supply a large portion of the
empire, uniting by the shortest line St. Petersburg
and Moscow with the Black Sea.
4. Orel to Lieban.—Connects the centre and the
Tears-Noires• with a port on the Baltic open the
whole year, and destined to become the greatest
commercial artery of Russia.
The financial positiozi of the company is excellent;
the shares are in increased demand, for in foreign
markets and in Russia the undertaking is received
with so much favour, and disposable capital is so
abundant, that nearly a fourth of the 600,000 shares
of the first issue have been paid up in full by the
subscribers, who have thus paid in advance 45 mil-
lions of francs.

The total capital is guaranteed 6 per cent. by the
Russian government under oontract, so that what-
ever saving the company may effect in the works
will be equivalent to an additional guaranteed in-
terest. Should circumstances require it, the opera.
tions may be confined to a portion of the group
without any alteration being made in the terms of
the ooneenion.

The net revenue of the entire capital has been
estimated by the engineers charged with the surveys
at 10 per cent, which, taking into account that half
of the capital is to be created in obligations, would
return 12 to 13 per cent.
This estimate refers to the working of the first
few yaws.
The deed of concession gives the company every
facility for development of the traffic. It
grants power to possess and work mines, factories,
and forests, and the right to organise a transport
service on the rivers and the sea in correspondence
with the railroads. The latter privilege is of consi-
derable importance in a country of unlimited pro-
duction, called upon to supply the agricultural
wants of the whole of Europe, and which is divided
by soil and climate into distinct zone, that can alone
exist by the exchange of their products.

• Steppes of Southern Rank, of a rich black soil.