The Express.
London, England, 1868-05-20 00:00:00

ABEIDOILL! PRONPrC•PUV.

I he circumstances under which subteriptions are new invited
. this Company, to a further issue of capital are peculiarly
t otirable for investors. and present the strongest guidance of
sound and profitable charact•r of Wu undertaking. to cow-
:rte which an additional sullay is requited.
14 they are now planned, and being constructed, the amnia
when completed according to the estimates of many snai-
-1 .t.lll meat competent to judge, including Colonel Rundall and
he present chief engineer of the Company, convey water fur the
'citation of shout 700.400 acres.
Adopting &temporary reduced rate of charge for irrigation, and
retiniaUng the returns from navigation at the very moderate total
• 13 per cent. upon the i.titlay tthe present chief engineer has just
,ported that he eatbnates the return upor the tidal canal will
• at least 10 per cent, '„ and allowing the high charge of 5 per
for repaint, maintenance. establishment, &c., the

t returns fr...Mthe sections now tLl;;;Comileted would be
• .ether 12 per cent., whWt• by the re-mtablishnient of the
.nnal rate of lice rupees per acre for irrigation, would be made
t.. 21 per cent. net
hes. are tignres the accuracy of which can be easily
.nquated, and any inquiry made regarding them at the
,n)'s Mikes will be at once replied to, and every informs-
. .ven.
pi...pert of nn Immediate and extensive spread of brigs-
.ani therefore of a satisfactory increase upon the existing
• , 1. is highly encouraging. By reports received on the
the pre.ent month, and dated the :.10th March, it ap-
• . that there had then been sighed, connected with the
. .i•eta Canal alone, lease. ;principally for three years)
26.000 acres : that applications from calti-
- . I bout under the same Canal were beteg received
.. rate of from 2,000 to 5,4,00 acres daily and that the na-
...re ...Mine the smaller channels necessary to convey the
• , r•• their tields with eernestness ; further, that in the Met-
., tin Digit Level Canal meetings were being held by the Ze-
;,u•l other unmistakeable signs exhildted that the same
-.talent &flans there as that connected with the Ken-
.r., anal was a mere matter of a short time, and that

coining •eafon large demands will be made fur water.
• thr Midhaport Coma the effect of the reduction of the
•r flat,. de.. hat not. at the end of March, been thoroughly
lart,ltilt the Irrigating portion of that Clual had
1L...A for some time previous for construction purposes,
• then only been reopentd, but the chief engineer of the
• . .0.) and the executive engineer in charge reported that
. ao 0, for water, in addition to the 4,0 0 acres supplied
• n: had ,olurnenced and were confidently expected to be
: i. • ial,tely.
to already constructed have now entered upon their
. I rrseeue, and they offer to capitalhts not only a safe in-
' id, hot one atieh will, most aniuredly, be very profitable,
. here it may be added, as confirmatory of this
• oinoidiate prolpect, that the portions of the works now in
~.imiimet to be ',went:el. consfeling mainly of channels
• . i•ution of the water, will necessanly be the casket
tion well as the most productive, and wig add
t.. It, pereentaa of returns oh the whole outlay.
. ' anothie feature of great importance, which whatnot
t.. 1 10 Ow cohaeletution of the ntneie of this underteklng
• . us. -toont. by the contract it is expressly provided that
• •o ; •hall toe paid foe the water supplied for Irrigation
oitientorv—not by the cultivators themselves—but by
• of India: and that the price to be so paid by
•. ..r. i.oont the Company for each water shall be the
. h tr, .1 to. the cogtivistars, and shall be so tow repro-

the water to the parUes uatng it. 14 tut
•tipulatien. It bite hi en acknowletiged by the
• eteu...tt that they alone are liable in respect to the non-
' !.1144.1i1, I, It Alto .utplirtt, 10 that the Couipeny are released
1.411 all trot of lief ills to loss of any portion of their water
I,,te nu. ',dor of Ow f...regoing suTangentent eau hardly be
d. f,rnone se it does a certain and este guars°.
t.- ••I ter r‘ery portiuu of the eater suppliel for

TRE DOMINION of CANADA, PROVINCE of
NEW lIRVNIWICIK.
lease of £411,000 Met Mortgage alerting Ronde of the European
and North American Railway Company, fur Kitimat= tram

!taint John Westward.
The Bonds are to Bearer. with Interest Coupons attached, and
are of the nominal amount of £2OO sterling each.
Interest at 0 per cent- per annum from let July, DOS,
Price of Issue, Elite per £2OO Bond.
Bonds repayable at the end of 30 years, if not previously pur-
chased, by the application of the Sinking Fund provided for
their ettinction within that period.
Principal and Interest payable la sterling money at the once of
Messrs J Morgan and Co. in London.

Interest payable Half-yearly, on let January and Ist July.
Messrs J. S. Morgan and Co. are authorised to offer for public
subscription the above Bonds at the price of Ll5O per £2.0
Bond, the subscription being payable by instalments as under:
per cent. or L.lO per ,E2OO bond on application.
5 £lo „ „ allotment.
*V „ LSO „ Ist July, 1448 ,deducting
14 per cent., or L 3 per bond, less income
tax. for interest up to Ist July'.
*0 £4O pa £lOO Bond on Ist August, 1408.
YS .. s'o „ ~ let September, 1103.

75 „ g 150 per 41200 Bond.
Subscribers may pay the lull amount of their subscription In
advance upon any of the above mentioned days. and on such
prepayments disouunt at the rate of 4 per cent. per annum will
be
allowed.
From the above it will be seen that the actual subscription
price of the Bonds 'without calculating the advantage resulting
Irons the deferred periods of payment of the instalmente and
the repayment of the hoods at par within SO years, is at the rate
of 734 jar cent., or £147 per au° Bond.
In case default Is made in payment or allotment or of any of
the inatalments CM the days named, the allotment will be liable
to be cancelled, and the amounts then already paid forfeited.
After payment of the allotment money, Scrip Certificates to
Barer will be fouled to Use subscriber., which will be exchanged
fo7 definitive Hoods to dearer, so aeon u the whole amount of the
subscription has been paid bp.

The iuropean sad North American Railway Company for er
tension from saint John Westward was Incorporated by the
Legislative Council and Assembly of Sew Brunswick, in the year
for the purpose of constructing a main line from the city of
Saint John, New Brunswick. to the frontier of the State of Maine,
in the United States, there to connect with a hallway now in
cAuse of construction, to the city of Bangor, which Is already
in direct communication with all the railways of the United
States and Canada. _
. .

-----AlsinCeat the skeleton map accompanying the prospectus
will show the extreme importance of toe railway, which wilt
complete, In connexion with the lines now made or in course of
construction, the only railway communication between the
British Provinces of Neva Scotia, New Brunawkl, and Canada,
now politically united, and forming the Dominion of Canada. In
like manner it will form the connecting link in the main line of
railway from lialifax to all the Northern and Western Mates of
the American Continent.

The length of the line Is 96 miles, and so important was it
eousidered by the Government of New Brunswick that a subsidy
of 10,000 dollars per mile was given by them towards ita con.
struotion, in addition to which the Government of New Bruns-
wick, sod the city of Saint John, in Its corporate capacity, being
authorised by special ACt4 of the Legislature, also subscribed
for stook In the Company.
The capital of the Company is as follows :
Subsidy given by the principal Government of New
Brunswick, 910.000 per mile
Stock subscription, including subscription by the city of
Saint John 900,000
This will be supplemented by the produce of the lathe of the
4:411,000 Staling Bond; forming a Mat mortgage on the under.
taking, anti, If necessary, by a I,:rther tense of stock which the
contractors have engaged is take in payment of the cost of
rolling stock... . . . . .

CORDING'S CELEBRATED FISHING
BOOTS. Warranted, and are soft and pliable.
CORDING'S FISHING STOCKINGS.

CORDING'S GUINEA. STORM COAT.
_____

CO RDING'S FISHING COAT.

CO RDING'S, 231, STRAND and TEMPLE-
BAR.

LIMEY, TAILOR,
120, FIRICHURCH-NTRKET, 120,
(Nearly oir=c Mark
F FITTING GARMENTS.
Moderate Charm

TILE WELL-KNOWN CITY TAILOR',
40, CORITHILL,
Opposite Pins

THE MACHINE.—" Certainly
the most perfect and oninplete, from the simplest stitch.-
Mg to the most finished euthroldery."--Afechatua Magazine.
Marvellous excellenee."—Courter. " A Wheeler and Wil•on
largely improved."—Newoastie Journal.—Depot, 20, High Hot-

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