The Express.
London, England, 1867-11-12 00:00:00

rensrrcrra

The President of the Republic of Honduras, being duly autho-
rised, has given full powers to lions. Victor Herren, Minister at
Pans, and Senor Don CarlosGutierres, Honduras Minister in Lon-
don, to contract on account el the Government a Loan, to be sp.
plied towards the construction of an inter-oceanic Rain, from
Puerto Cabalist, on the Atlantic, to the Bay of Fonseca, on the
faille.
1. slow the importance attached by the British Government
to the Honduras Inter-oceanic itailway.it may be stated that the
line has been surveyed on the part el her Majesty*. Government
by Lieutenant-Colonel Stanton, ILL., and a detachment of Royal
km:Wears sent out for the purpose. Colonel Stanton reports ,1
" I the harbours at both termini are unexceptionable, and
that tbe'Plitel can be coustructed without &Di sharper curves
or heavier gredients titan are to be found on existing lines
over which locomotives work without difficulty."
The new treaty between Honduras and Great Britain declares
that—
"ln order to secure the construction and permanence of the
rotate or road herein contemplated. and also to secure for the
benefit of maukind the uninterrupted advantages of such cum. •
munication front sea to sea, her Britannic Majesty
the rights of sovereignty and property of Honduras is alt
the line 44 the gel road, and for the same reason guarantees,
positively and cUicaciously, the entire neutrality of the same.
And when the proposed road shall have been completed, her
Britannic Majesty equally engages, in conjunction with the
Republic of Honduras, to protect the same from interruption,
seizure, or unjust medication. from whatsoever quarter the
attempt may proceed."
Treaties signed by the Honduras Government with France and
the United States contain the same provisions, and the French
Govenintent, considering the public utility of the Honduras
Railway, has promised the °Metal quotation of the Honduras
Loan on the Paris Bourse.
. . .

The7ollowl7solacTalieport by Rear Admiral Davis, made to
the secretary of the Navy of the United States Government, In
compliance with a resolution of the American Congress on the
Psh of March, 18136, demonstrates likewise the haportancewhich
the Culled States Government attaches to the construction of
the Honduras line:

'l.lljWaTer who follows the course of the surveyors. natu-
ralism, and geologists from the capacious, este, and excellent
harbour of Puerto Cabello*, through regions remarkable fur their
salubrity, fertility, great variety of climate and prodactions, and
valuable mineral resources to the waters of the splendid harbour
of La Union .Bay of Fonseca , cannot but regret that capitalist*
have not felted it to their interest to caarrryrY out one of the most
promising and one of the least embarrwing enterprises of the
des
"
l.he line of railway has been carefully selected and surveyed by
Mr. Trantwine late engineertachiet of the Panama Railway)
and an ancient staff, and a contract has been entered into for
the constraction of the whole line, with stations and rolling
stock, for a stipulated sum of about £5,000 a mile, including
every outlay, and the weeks are to be proceeded with In *tenons.
Prom time to time, as the Instalments of the present loan are
received, the proportion to be applied to the construction of the
lint section of the railway will be handed to and held by trustees
in trust, to pay the contractor the instalments on his contract, as
certified by the government engineer. The balance of the loan
will be applied In clearing the forests, and in payment of engineer-
ing and other incidental expenses.
The interest and sinking fund of the loan are specially gua-
ranteed by a first charge upon the intended railway Had( and ha
revenue, and also by a lint mortgage upon the whole of the
domains and mahogany forests of the state of llondurasorhich,
according to olbaial report, are of Immense value.
It Is arranged that the whole of the produce of the above mort-
gaged state domains and form.* shall be consigned direct to Lon-
don by the Honduras Governmeut to Hews. liischoffshenn and
Goldschmidt, who will pay over the procealsof the sales towards
the annual Interest and sinking (and, and the coastruction of the
remaining sections of the railway.
It has been further arranged in the contract that, as soon as
any portion of the rellway Is completed, the contractor shall
bring down to the terminus, free of charge, by the return empty
winn,rons, any produce of the government tweets and domains
that may be ready for shipment to England.
Beginning at the harbour of Puerto Caballed', on the Atlantic,
the railway will proceed over the table land of Honduras—in •
line of cm miles to the Bay of Fouseca, oil the ?exilic.
The ports at either end are spacious, sate, and easily accessible
for the largest ships.
The steaming distances from Uverpool to Ban Francisco, touch-
ing at Jamaica, are :—lty way of Panama, 7,980 miles—Nlcaraguk
7,7s.lmiles—Tehnahtepec, 7,740 miles—Honduras, 7,320 miles.
The distance between new York and San Francisco, by
Panama, Is ; by Nicaragua, 4,70 e miles ; by Tehuante-
pec, 4,20 u miles by 'fondants, 4.121 miles—a saving, by way of
Honduras, as compared with Panama, the only line on which a
railway is already constructed, of 1,103 inner.
. .

The rivitoe In acturl distance, coupled th the superiority
of ports, the facilities of embarkation and disembarkation, and
the connexion with the American coast lines, will effect a caving
in time, as compared with the Panama route, of not less than
live days between the Atlantic and Yaninc ports of the United
States.

Thellne will afford the easiest, safest, end 'poodles& route
between Ureat Britain and British Columbia; it will alao offer
the Increased facilities of first-class ports for the establishment
.

of speedy intercourse with Australl‘and New Zealand, and will
Wing Jamaica, Belize, and other British possessions to the Wait
ludieslato the direct line of communication.
Lest year the dividend paid by the Panama Company was at
the rate of 24 per cent. per annum on a capital of £1,000,000, in
addition to a bonus of 40 per cent. from accumulated profits.
The Honduras line will In all probability return as much profit as
the Panama line, U not considerably more.
nufacient of the proceeds of the present issue will be applied
to the construction of the Brat section from Puerto Cabello. to
Santiago. This section will enable the exportation if the
y, dm., to take place the means of transport now exist-
:7l'g h'eM too expensive to be remiuterative. Careful estimates have
astbilled the Honduras Government that the surplus revenue of
the State domains and forests will be amply sufficient to com-
plete the whole line, without any further Issue of stock, bat in
case It should be found advantageous, on account of hicresaing
traffic, to accelerate the opening of Um railway from sea to sea
by raising more money, further stock will be Issued for the con-
struction 11 the remaining sections of the railway.
The several contracts and other documents can be Inspected at
the olltee of Mews. Baxter, Rose, Norton and Co., solicitors, No.
Vicirwthstrect, Westminster.

Applicatlmu for the Luau will be received from Monday,
11th November, to friday, the 15th November, by the London
and County Bank, xl, Lombard street, and Branches, where
Prospectuses and Forma of Application can be obtained ; and su
Paris by Messrs. itis:bothdteim, tloldschmkit, and Co.. td, Rue
de la Chaustse crAntin hotueuts on application for the Loan
can also be made at the Bank of France and Branches.

HONDURAS GOVERNMENT RAILWAY LOAN FOR
C 1,000,000.
FORE OF APPLICATION.
To be retained by the Bankers
To the Directors of the London and County Bank.
Gentlerneu,-11aving paid to the London and County Bank the
sum of g , 1 herelry request ou will
allot to me net In bonds ofthat they above
Loan, and I hereby agree to accept the same, or any smaller
amount that may be allotted to me, and to y the farther sum
of A.lO per cent. on the same ellen —1 am, gentlemen,
your obedient servant,
Signature
Address In ea
Date

BANK of BRITISbHy NORTH AMERICA.
d Royal Charter.
NOTICE IS lIKREBY Gllneerponte VEN, that a GENERAL MEETING
of the Proprietors of the Bank of British North America will be
held ou TUESDAY, the 3rd day of December, 1867, at the
London Tavern, Rishopente-street, at 1 o'clock pm. precisely,
to receive a Report Prom the Directors ; and notice is hereby
further given, that at the conclusion of the Mildness of the said
meeting, the meeting will be made extraurobiary, for the pur-
pose of considering and deciding upon resolutions which will
then be submitted by the Directors for the purpose of altering
the 78th clause of the deed of settlement of the corporation as
to the Investment of the funds of the corporation, and also for
altering the 108th clause of the said deed of settlement, by autho-
Meg the appointment at inspectors and also for addin the
said deed of settlement a clause to he numbered lilA, giving to
the corporation a lien and power of sale over abate. of
proprietors who may be indebted to them, and siso for
annulling the 131st clause of the said deed of settlement,
and substituting therefor a clause enabling the Darden at
their discretion to pay dividends to the executon, administra-
tors, or assigns of deceased bankrupt or Insolvent proprietors
and notice is hereby further given, that in case the said resolu-
tions, or any of them, are passed at the said meeting, *further
Extraordinary General Meeting of the Proprietors will be held
en Tuesday, the 10th December, 1867, at the London Tavern
aforesaid, at One o'clock pm. precisely, for the purpose of con-
firming or otherwise the said resolutions.
By order of the Court,