The Sun.
London, England, 1855-05-30 00:00:00

LONDON, WEDNESDAY EVENING, MAY 30, 1855.

ROYAL EXCHANGE ASSURANCE
OFFICE,
ROYAL EXCHANGE, 23D KAT, 1855.
The COURT OF DIRECTORS of the CORPORATION of the
'rOYAL-EXCHANGE ASSURANCE do hereby give Notice, that
heir Transfer Books will be SHUT from TUESDAY, the sth of June
.ext, to THURSDAY, the sth of July following ; and that a GENERAL.
'OURT of the said Corporation will be holden at their Office, at the
tcyal Exchange, on WEDNESDAY, the 20th of June, at Twelve o'clock
tt Noon, to consider of a Dividend. _

JOHN A. HIGH A 3f, Secretary.

OME AND FRASCATI RAILWAY COM
PANY, being the First Section of the Grand Line from
.tome 'o -
.6 /s epics. Concession, Ninety-nine years. Societe Ano-
,Yme, author sad by decree of the Pontifical Government, dated Bth
.ovember, 1854. Capital, Eight Millions of Francs, 320,0001.. di
r de/ into 32,000 Shares of 250 Francs, 10/. each, to Bearer, half of
,vinch have been subscribed on the Continent.
BOARD OF DIRECTORS.
President—Prince ODESCALUHI, Rome.
Vice President—Le Marquis DE LA. GRANGE, Senateur, Paris.
Me Duke Marino Tor:onia. Rome.
diehard Hartley Kennedy, Es,., Ald., London.
tobert Keating, Esq., M.P., Director or the London and County
Bank, London.
Inthony Norris, Esa., 2, Bedford-row, London.
:'tince ,Joseph Poniatowski, Senateur, Paris.
De Saulcy, Membre de l'lnstitnt, Paris.
.e Comte Henry d'Avigdor, Director of the Victor Emmanuel Sar-
dinian Railway, Paris.
:hevaller N. Micard, Paris.
f Gervoy, late Director of the Lyons and Saint Etienne Railway
Company, Paris.
hankers of the company—Rome: Messrs. Torlonia and Co.
London : The London and County Bank.
The concession of this railway was purchased some time since.
nd the works have been actively carried on durine the past six
nonths. The line will be opened for traffic on or before the 15th of
)ctober next. The traffic returns, the details of which will be found
tereafter, show a profit on the capital of 15 per cent.
The contract for the s, orks has been made with English contrac-
ors of great experience for 301,000 ~ which includes a double way
tations, , and sufficient rolling stock for the estimated traffic
he contractors have guaranteed, with substantial security, 7 pe'
ent. on the capital during the first three years, in consideration of
oeir receiving ha f the surplis profits.
The shareholders in this line will have a preferential right to
hares in the Extension Line to ' aples.
IMPORTANCE OF TILE LINE.
The Rail way from 1t01133 to Frascati I' nor only the head of the
''• a fro.. Rome to Naples, hut must of necessity 1), come part of the
rest trunk line of Italy from Milan, Venice, and Verona o Naples,
old of which the portion connecting Verona, Mantua, Pistoja, Flor-
rice, and Sienna is already completed.
This twofold character of the Railway from Rome to Frascati. as
tea I line and common trunk, is analogous to that of the Railway
,om Paris to Saint Germain, of which the Rouen, Havre, Western,
,e 1 Cherbourg lines are tributaries.
Independently of the e advantages, the line from Rome to Frascati
sure of a very large local tragic.
CONDITIONS OF TIIE CONCESSION.

The concession of the Railway from Rome to Frascati has been
-ranted by decrees of the rontifical Government. The duration of
the concession is 99 years. The Company has the power to continue
to itome and Frascati line as far as the Neapolitan frontier.
The authorised tariffs are as follows :
For First-class passengers •• ••• • • • 0.13 c. per kilometre.*
„ Second-class .•..• • • • 0.10 lt
Third-class •. •• • ... 0.06
„ Goods, per ton „ . 0.40 It
High as these tariffs appeal', they are little more than one-half the
existing charges for conveyance.

TRAFFIC.

The directors have, by careful observation, ascertained the prob

able amount of the traffic between Rome and Frascati, as well for
lassengers as for provisions and other merchandise.
These observations have been made at various times and at dif-
rerent points on the line, in order to secure correctness in the results;
tnd they show a daily movem nt of 7,060 passengers (5,320 on foot,
ind 1,743 in vehicles), and 745 waggons load. d with agricultural pro-

lace for the supply of Rome, conzaining. at an average of 500 iilo-
4rammes each, a total weight of about 372,500 kilogrammes or about
372 tons English. . . .

Nor is there anything surprising in this amount of traffic Rome,
h its permanent population of 180,000 souls, and its floating but
egular population of 40,(r0 foreigners, possesses neither granaries,
;ardens, fields, nor vineyards, to supply its dai'y consumption. No
o aces of retreat or amusement on its numerous holidays or fetes, at
t less distance than about 12 miles (20 kilometres) from its walls ; no
places, in fact, nearer than Monterotondo, Nemi, Ariccia, Castel
londolfo (the summer residence of the Pope), Albano, Gensano, Ma-

ino, Civita-Lavinia, Villerri, &e., all in the neighbourhood of Fras-
cati.

The whole of this traffic of passengers and goods, including the
laily supplies of provisions for Rome, and the conveyance of visitors
to the a',ove-named places, may fairly be expected to pass over the
railway from the day of its opening, to be subsequently and largely
augmented when the transit to Naples shall be added,
Taking the actual traffic as a b Isis. without doabling (as is usual)
t' e number of passengers, without reckoning on the increase of
traffic which time will as certainly bring; admitting even a con-
,:oerable reduction of the estimate already made, adopting as the
General tariff that of the third-class passengers only, and reducing by
50 per cent, the goods tariff, we arrive at the following results :

Francs.

5,000 passengers a day (instead of 7,060) at six centimes
(third class tariff) over 20 kilometres (12 miles) . • • '2,190,000
200 tons of goods a day (instead of 372 tons) at 16 centimes,
over 20 kilometres (the legal charge is 40c.)

Total 2,423,600
Deduct 50 per cEnt. for working expenses 1,211,800

Net 1,211,800
Or more than 15 per cent. on a capital f eight millions of francs.

FINANCIAL CONSTITUTION OF THE COMPANY.

The shares are issued to bearer on payment of the first 125 francs,
or 51.

fhe remaining 51. pe4* share will be called for in two instalments,
first, 2/. 10i., payable in two months after the opening of the line,
old 2 . 10A_ in six months.
The shares bear an interest of the per cent. until the completion
of the works.

Tie in. crest and dividends will be payable half-yearly at Rome,
Pais, and T,,,lndon.

The annual general meetings of the shareholders will take place in
to cour• e of the month of April.

It will be seen from the foregoing that this railway is brought be-
fore the public under circumstances of a novel and unusually favour-
able character.

st. The line will be comeleted and in oper,tion within five monthv.

.2d. No call will be payable until twu months atter theepenl;t7:
3d, Interest is guaranteed at 5 per cent. d ring construction and
at 7 per cent. with half surplus profits tor the first three years after

4th. The shareholders will have a preferential right to shares hi
the Extensions, which will constitute this line one of the most im-
.,ortant to the south of Europe.
Applications for share•, in the following form, to be made to the
lookers of the Company. Messrs. Field, Son, and Wood, Varnferd-
court, City; or to the office s of the Company, 28, Poultry, City :

which he has entered unawares. Hence it has come
that every great national agitation we have witnessed
has introduced a new class of members—more or less
numerous, to the Legislature; every popular deluge (to
borrow a figure of speech from Prince Metternich and
Lord Maidstone) has deposited a new stratum of legis-
lators in Parliament. The struggle of Catholic Emanci
pation gave us the Sheila and the O'Connella. The strug-
gle for Parliamentary reform gave us the Attwonds,
Scholefields,Brothertons, and Hommans. The Anti-Corn-
Law agitation gave us the Cobdens, Brights, Kerabaws,
and Browns. The movement for Administrative Reform
will in its turn train new members for the Legislature, and
supply them with an opportunity of winning that public
confidence which can alone open for Them the doors of the
[louse of Commons. We do not merely look forward to
this as inevitable ; we regard it as most desirable. The
talent available in the House of Commons which was
developed in the leaders of the Catholic Emancipation
and Reform Bill struggles, was simply that of preserving
harmonious action among their fellow-agitators—a talent
of immense use in the deliberations of any popular assem-
bly, but which may be possessed in a high degree by
men destitute of almost every quality of a legislator. The
Anti-Corn-law agitation taught its leaders, in addition
to this tact of management, lessons in the theory of corn
mercial policy, but left them imperfectly acquainted with
much that the legislator requires to know. The Admi-
nistrative reform movement will be an experimental
school of practical statesmanship. To take a lead in it
a man must necessarily make himself acquainted with
the organisation and mode of working of our executive
government. Too many of those who have been
" pitchforked" into Parliament by former agitations,
have shown thnt it is one thing to be a successful
agitator and another to be a useful legislator. Their
utility in the House of Commons has, in a great mea-
sure, been restricted to the bringing the sentiments of
.that body somewhat more into harmony with those of
the people than they were before. But men trained in
the Administrative Reform movement will acquire habits
and knowledge calculated to inspire them with confi-
dence in their ability to take part in the executive
councils of the State. The oligarchy will not be able to
say of them that they are unwilling to accept of office,
"r that they are deititute of the acquirements which fit
men to discharge its duties. The Administrative Re-
form movement will educate " the right men for the
right places."