The Sun.
London, England, 1855-01-06 00:00:00

LONDON, SATURDAY EVENING, JANUARY 6, 1855.

PROSPECTUS
NVERNESS AND TELGIN JUNCTION

RAILWAY.
FROM NAIRN" TO EORRES AND ELGIN-FORMING A
COMMUNICATION BETWEEN INVERNESS AND ELGIN
IN CONTINUATION OF THE INVERNESS AND NAIRN
RAILWAY-WITH A BRANCH TO FINDHORN.]

CAPITAL, £160,000,
In Shares of £lO each. Deposit £1 10s. per Share.

CHAIRMAN.
The Right Honourahle the Farl of Seatiell.
DEPUTY-CnAtftm.AN.
Captain William Fraser-Tytler of AldonHe and Burdsyards.
PROVISIONAL COMMITTEE.
Robert Anderson, farmer, Meikle Kildrummi.
T. P. B. BiAene, of Newton
The lion. Thomas C. itruee, Commissioner for the Earl of Seafield

Richard Butler, farmer, Chapeltown, of Burdsya•ds
Angus Cameron, of Firhall
iohn Chisholm, merchant, Inverness
John Cruickshank, Cloves
Thomas Davidson, banker, Forres
Alexander G. Dallas, late of Shanghai, Inverness
Alexander Dallas. Commissioner for John G. Gollan, of Gollanileld
John Dougal, of Glenterness
Henry J. Brodie Dunn, of Milton-Brodie
W. S. Ferguson, Elgin
Colonel Alexander Findlay, of Millbank
George Alexander Forteath, of Newton
Robert Fraser, Brackla
William Geddes, of Laurel Bank, Elgin
Captain James Gordon, of Ivybank
James Gordon, merchant, Inverness
The Hon. Lewis Alexander Grant, of Grant
Robert Grant, of Kinccrth
John Grant, of Glen-Grant
Alexander A. Gregory, merchant, Inverness
Alexander Mackintosh, of Mackintosh
Eneas William Mackintosh, of Raigmore, Deputy-Chairman of the

Inverness and Nairn Railway Company
Lieutenant-Colonel Hugh Inglis. of Kingsmills
Lachlan Kennedy, merchant, Nairn
•
John Kynoch, Provost of Forres
Neil Maclean, Factor on the Estates of KilrAvock and Cantray
efihn Maclennan, corn-merchant, •Beata,:
Cluny Macpherson, Chahinan of the InVerness and Nadrn

Company
D. D. Manson, M.D., Spynie
John Mitchell, Wester Alves, Factor for Seaforth
Bailie Riach, Forres
Alexander I. Robertson, of Aultnaskiah
David Rose, of Vieumont, corn-merchant, Inverness
Adam Shary, merchant, Rothes
Alexander Smyth, of Balnareith
James Stephen, of Bruceland, M.D., Elgin
William Stephen, Inchbroom
Major Donald Stuart, late 46th Regiment
Charles Stewart, solicitor, Inverness
James Sutherland, Provost of Inverness

£1,446,567 •
Net Increase. •

£2,291,356
Net Increase.

Eric Sutherland, Shempston, Factor for Sir Win. Gordon Cumming,
of Altyre, Bart.
Alexander Thurburn, of Drumduan

Henry Wm. White, of Manor and Lentran
James Wilson, solicitor and bank-agent, Inverness

ENGINEER.
John Mitchell, F.R.S.E.
CONSULTING ENGINEERS.

Joseph Locke, Esq., M.P.

I E. J. Errington, Esq., C. E.

• BANKERS.
The Caledonian Banking Company, Inverness, and its Branches
Messrs. Barclay, Bevon, Tritton, and Co., London
The Union Bank of Scotland, Edinburgh, and Glasgow
Manchester and Liverpool District Bank, Liverpool and Manchester

SOLICITORS.
Messrs. G. P. Anderson, Inverness
Mr. Adam Davidson, Nairn
Mr. William Selanders, Forres
Mr. Robert Urquhart, ditto
Mr. John D. Davidson, ditto
Mr. George Leslie, Elgin
PARLIAMENTARY AGENT.
Theodore Martin, Esq., 10, New Palace Yard, Westminster.
Messrs. G. and P. Anderson, Inverness, Interim Secretaries.

The present time seems to he peculiarly writable for the establish-
ment of the proposed Lino of Railway. The works upon the Inver-
ness and Nairn line have been commenced, and the contractors un-
dertake that the line shall be open for traffic by the let of August
next. On the other hand, the chain of Railway communication on
the south is complete as far as the town of Huntly, and measures are
understood to be in progress for extending the line northward from
Huntly.
In these circumstances, it has been thought desirable to apply to
Parliament, in the ensuing session for the Incorporation of a Com-
pany for making a Railway from Nairn to Elgin, which shall com-
plete the communication between Inverness and Elgin. The com-
pany will thus be in a position to commence the necessary works
next summer, and thereby, with the least possible delay, to place
the fair and ancient province of Moray on such a footing, with retard
to Railway communication, that the laying down of an ironway
throughout its whole extent, from the Beauly to the Spey, and un-
interrupted connection with the Southern markets must immediately
follow.

With this view, applications have been made to an the principal
proprietors along the line, who have, without exception, declared
themselves favourable to the enterprise, and ready to afford facilities
for its construction. The plans have been finished, minute estimates
of the cost have been made, and the line has been gone over and
examined by contractors of the highest respectability ; and the pro-
moters have no doubt that the works will be undertaken by them
for a sum which, together with the purchase of land, rolling stock,
Preliminary expenses, and all other charges necessary for tke com-
pletion of the undertaking, will certainly not exceed 200,0001., or
8,0001. a mile, including bridges over the Nairn. Findhorn, and
Lossie. For this sum the Company will he in possession of a single

line of railway—double whereYerthis is necessary for its efficient
working—and with bridges built and land purchased for a double
line. And the promoters are in a position to state, that the contrac-
tors with whom they have been in communication will be prepared
to take payment of one-third of the cost of the works in stock.
The Engineering Works—from the level nature of the country,
and the light gravelly soil over which the line for the most part
passes—are of a simple character, and are certain to be completed
within the specified time.
Besides the large loeal traffic arising from the line passing through
the centre of the richly cultivated and populols county of Moray.
this Railway, when connected with the Great North of Scotland
Railway, now in progress of extension, will form part of the rreat
through communication from Inverness by Aberdeen to the south.
From the character of the country the line can never be exposed to
railway competition.
Through the Inverness and Nairn Railway—with AberdireetoTS of
which the promoters at this undertaking aro in cordial co-operation
—the line will be enabled to communicate with the Caledonian Canal

at Inverness, and thereby to establish a connection with the large
and rapidly-increasing traffic flowing along that great artery of com-
mn^icati^n to and from the counties of 11 mil, Moray, and Nairn.
At its other extremity, the line will communicate with the Elgin and
T,nsciemouth 'Railway, and the port of Lossiemouth. Beatles these,
the Railway will receive the traffic of the several ports of Nairn,
Findhorn, and liurehead.

Careful observations of the traffic, ramie in 1845, with a view to a
Railway from Inverness to Elgin, showing a local revenue amply
sufficient to yield a liberal return upon a railway of a much more
expensive nature. Since that period, however, the wealth and
traffic of the district have been materially augmented, and are still
rapidly increasing.
Taking the basis of the observations of 1545, the result will be as
follows :

FAtimated amount of local revenue £21,000 0 0
Deduct 40 per cent. for working expenses 8,400 0 0

£12,600 0 0
2,000 0 0

Of interest on 50,0001, borrowed.

Leaving • • ... .. • X 10,600 0 0

For division, on a called-up capital of 150,0007., or a dividend of 7
per cent. immediately after the opening of the line, with the cer-
tainty of a large eventual increase.
The undertaking, therefore, presents these peculiar advantages:-
1. It will be completed and opened for working in two years from
the passing of the act.
2. It will cost only 8,0007. a mile, for a single line, while the
average cost of railways in Scotland, with a double line of
rails, has been 30,0701. a mile.
3. While the average return per mile per annum, in Scotland. has
been 2,0001., a sum of only 8501. per mile per annum, on
this line, will yield a dividend of 7 per cent.
4. The line, from its situation, secures in perpetuity the whole
through railway traffic passing northward of Elgin from
Aberdeen, and passing eastward of Nairn from the Western
and Northern Highlands.
5. The line will be worked in connection with the Inverness and
Nairn Railway, under efficient Parliamentary powers,
whereby the facilities of transit will be on the one hand
greatly increased, while on the ether hand the working ex-
penses will be greatly economised.
6.-Lines of this character, constructed at a moderate cost, in the
north of Scotland, have proved highly remunerative, as in-
stanced in the Lossiemouth and Deeside Railways, recently
opened—both of which have returned dividends of 5 per
cent. on the first year's traffic.
7. The promoters are justified in stating that payment of one-
third of the cost of the works will be taken in stock, as a
guarantee for the due completion of the undertaking, and
In evidence of the conviction of its soundness as a commer-
cial enterprise.
Applications for Shares to be made, in the form annexed, to
Messrs G. and P. Anderson, solicitors, Inverness ; Messrs Grant and
Leslie, solicitors, Elgin ; Mr Adam Davidson, town-clerk, Nairn ;
Mr Robert Urquhart, banker, and Mr William Sclanders, and Mr
John D. Davidson, solicitors, Forres ; Messrs. James Black and Co.,
sharebrokers, Aberdeen ; Mr John Maciver banker, Dingwall ; Mr
S. S. Taylor, sheriff-clerk, Cromarty ; Mr John Grant, writer,
Taira ; Mr William Miller, town-clerk, Wick ; Mr William Fleming,
banker, Grantown ; Mr Donald Meer le, writer, Kingussie ; Mr Pa-
trick Duncan, sharebroker, I, Kirkgate, Perth ; Mr James Black-
wood, sharebroker, Hanover-street, Edinburgh; Mr James Wat-
son, sharebroker, 32, St. Vincent-place, Glasgow ; Messrs Drewry
and Richardson, sharebrokers, Newcastle-upon-Tyne ; Messrs 11.
Watson and Co., sharebrokers, York : Messrs Henry Davis and Co.,
sharebrokers, 5, Dale-street, Liverpool ; Messrs Johnstone and Wal-
ker, sharebrokers, St. Ann's Church-yard, and Messrs Hayland,
Son, and Co., sharebrokers, Exchange-chambers, Bank-street, Man-
chester ; and Messrs Foster and Braithwaite, 63, Old Broad-street,
London.

?ORR OP APPLICATION.

To tko El'ovisional Committee of the Inverness and Elgin Junction

Railway.

Gentlemen,—l request that you will allot me Shares,
of 101. each, in this undertaking, and I agree to accept the same, or
any smaller number that may be allotted to me, to pay the deposit
thereon, end sign the Parliamentary Contract and Subscribers' Ag,ree-
ment, when required.
I am, Gentlemen,

Your obedient Serrant,
Full Christian and Surname
Profession..
Address ..
Date ...

THE REVENUE FOR THE YEAR AND QUARTER ENDING JAN. 5, 1855.

No. I.—An Abstract of the Net Produce of the Revenue and other Receipts of the United Kingdom, in the undermentioned periods, ended January 5, 1854, compared with
the corresponding periods of the preceding year.

QUARTERS ENDED I YEAR QUARTERS ENDED YEAR
A____,......A_____--.-----, ended
April 5, July 5, ' Oct. 10, Jan. 5, Jan. 5, April 5, July 5, Oct. 10, Jan. 5, Jan. 5,
1854 1554 1854 1855 1855 1853 1853 1853 1854 1851
1 -
X X ,
CUSTO"IS - -
EXCISE' • ...... •••••• • • • • • •
.3.934,688 i 15,337,724 EXCISE ' • _
STA Ai PS •••••• •• • • • • ..... •••••• • •
TAX iF,S 199,309 1,435,927 116,(480 1,288,632 3,040,518 ! 111,476 1,510, 183 129,219 1,492,690' 3,153,868 TAXES.
Pilo rEETS- TAX ••••• • • • • •
POST- FE IC E•-•••• • • • • • •
CROWN LANDS
MISCELLANEOUS
- - - -
. i
OR T;INARY REVENUE i
.. .. .. . • .. . • .. ORDINARY REVENUE.
M
..
IPR EAT NHR MN"F.
AND OTHER
I .. • • .0 • • •• IMPREST AND OTHER MONEY'S.
REPAYMENTS OF ADVANCES
..
, - - -•- ' - --
TOTAL
ni
Financial al Year,
from April 5, 1851, 1 i. , i
11.-INCREAsE and DECREASE in the Quarter and . „ . RL'PAYMENTS OF ADVANCES.
9 months of tile t'in ;tidal Year,
11.-INCREA _R
sE and DEEASE in the Quarter and
Y cl
Quarter ended Jan. 5, 1855 'Year ended Jan. 5, 1855. from. April 5, 1851, to Jan. 5,
5, 1855 ; and in the nine Year ended January 5, 1855 ; a3d in the nine
months n'2fed the January
185.5. months of the Financial Year, from April 5.1854,
ttiJanuary 5, 1855, as pocompared with the corres. - • • ' to January 5,1855, as compared with the corres-
ponding periods of the preceding year. Increase. Decrease. Increase. Decreatte, Increase. Decrease. ponding periods of the preceding year.
_____-----__. ____ •
£ • £ £ £ £ £ .
'rended
CUSTOMS ....... . ........... , • 584,072 .... • • • • 125,021' 74,665 CUSTOMS. :i, k ; L•s: -, '; -::. ;() c•E :9 1
EXCISF
STAMPS .......... .... ••• ....... ......
.121,187 .... •
• STAMFS. i:`,l'i'''l' ) ..i .1; 4-.lj lo '
TAXES ..........•• ...................... ..
PROPERTY TAX ...... • ............. .
........
..„ 483,932 •. • • 1,867,853 1,338,722 - PROPERTY' TAX.. '2 .ak.,i,..C.'4 vii:;1!0:13
POST-OFFICE
CROWN LANDS .. • •
MISCELLANEOUS
• ORDINARY REVENUE ....... • •••••• •••• •••• •••• ' .0 .. •••• .
•••• ORDINARY REVENUE. • • .
IMPREST AND OTHER MONEYS •••. ....• • ••• •••• •••• •• •• e• •• O. .. IMPREST AND OTHER MONEYS. •
REPAYMENTS OF ADVANCES. • - •• •••• •••• .... .... . . REPAYMENTS OF ADVANCES. • • •
-......_...-----
~,..,.i.1,-.,,;i:,-f .'''
--TOTALS ...
-- • . ..". • ' ' ' -". 1,750,395 309,828 2,940,797' - 655,441 ' 2,585,102 656,785 TOTALS.
' .

£[,928,316
Net Increase.