The Sun.
London, England, 1864-02-25 00:00:00

GOVERNMENT ANNUITIES BILL.-At a
numerously attended MEETING of the MEMBERS
of the LIFE ASSURANCE PROFESSION, held at the
Offices of the Royal Farmers' Assurance Company, 3, Nor-
folk-street, Strand, on Friday, February 19, 1864,
JOHN REDDISH, Esq„ in the Chair,
The following Resolutions were passed:-
1. That Life Assurance has been carried on in this country
for a century and a half by private enterprise, and that the
Life Assurance Companie- have fulfilled their engagements
in a manner which will bear honourable comparison with
that of any other class of institutions; that they have always
adapted themselves to the public wants and convenience, and
are able and willing to continue to do so.
2. That this Meeting is of opinion that the proposal of the
Government is an interference with ordinary commercial
enterprise, and ought to be opposed.
3. That a Committee, with power to add to their number,
be now appointed. for the purpose of watching the measure
and taking such steps as they may deem expedient.
4. That the foregoing Resolutions be signed by the Chair-
man and transmitted to the Chancellor of the Exchequer, in-
serted in the daily papers, and sent to the metropolitan and
other members of the House.
JOHN REDDISH, Chairman.
COMMITTEE.—C. Jellicoe, Esq J. Reddish, Esq., T. B.
Sprague, Es q., H. T. Tint old, Esq., J. Messout, Esq., Henry
Harben, Esq.
Communications in reference to the above subject should
be addressed to the Honorary Secretary, Henry Harben,'3s,
Ludgate-hill—LOuslOP

THE GELLIVARA COMPANY (Limited).—
Incorporated under the Companies Act, 1862, by whin
the liability of shareholders is limited to the amount of their
Capital £600,000, in 10,C0) shares of £5O each, with power to
increase.
Deposit Ll per share on application, and £4 on allotment ;
the remainder to be called up as required, but no call to
exceed £5 per share, and at an interval of no less than three
months between each call.
Interest at the rate of 6 per cent. guaranteed during the
first three years

DIRECTORS.
E. I'. Alderson, Esq., 26, Old Broad-street.
Thos. Brassey, jun., Esq., Great George-street.
Chile. Cammell, Esq., Sheffield and London.
W. K. Gladstone, Esq., 574, Old Broad-street.
J. H. Johnson, Esq., Director of the English and Swedish

Bank. .
George Payne Kitson, Esq , 13, King's Arms-yard.
V. Kjellb erg, Esq„ Stockholm.
Hugh C. Smith, Esq., 47, Belgrave-square.
BANKERS IN LONDON.
Messrs. Smith, P,,yne, and Smiths, 1, Lombard-street.
BANKERS IN SWEDEN.
The English and Swedish Bank Limited), Stockholm and
Gothenburg.
SOLICITORS.
Messrs. Dawes and Sons, 9, Angel-court, Throgmorton-st.

BROKERS.
Messrs. Mullens, Marshall. and Daniell, 3, Lombard-street.
Messrs. Laurence, Son, and Pearce, Bartholomew-lane.
SECRETARY.
Charles W. Earle, Esq.
Temporary Offices-1, Copthall-chambers.
This Company has been established for the purpose of
purchasing a property in the kingdom of Sweden, known as
the Gellivar , Estates, with the v-ew of developing its great
resources.
The property comprises
(A) About 1,200,000 acres of land, 900,000 acres of which are
freehold, and the remaining 300,000 acres can be made of the
same tenure. More than 5u0,000 acres consist of good forests
of red and white pines ; 100,000 acres are already under cul-
tivation or fit tor it ; and fur her extensive districts will
become available for agricultural purposes.
(B) The Geltivara iron bed is probably the largest and
most productive in the world, extending over nearly three
square miles. The ore consists partly of hematite and partly
of IDrotoxide of iron, without any visible trace of pyrite,
yielding on the average 65 per cent. of pure metal.
The mountain was surveyed in 1857 by a practical English
mining engineer, Mr. Thomas, F.G.S., and he reported his
opinion to be that—
" By adopting a systematic mode of working. there may be
readily extracted from seven to eight millions of tons of very
fine magnetic ironstone. readily obtainable by levels, and
without the application of any draining machinery; and that,
no doubt, even this large quantity might be materially in.;
creased byremoval of top rubbish and vegetation on the line
of bearing of the ironstone, before it will be found nezessary
to apply any machinery for drainage."
The mountain was likewise inspected in 1852 by Professor
Erdmann, Chiet Director of the Royal Geological Surveys in
Sweden. and, according to his report, a great number of the
veins are estimated at from to 200 feet in thickness, and
about 1,000 feet in length, and the produce of one single vein
may fairly be calculated to equal more than three million
tons of ore.
(C) 215 farms, nine water and one steam sawmill, two blast
furnaces, four ironworks, a ship-building, yard, &c.
The greater portion of this property was purchased from
the late King of Sweden by an association of merchants in
Sweden and Norway, whose operations have been confined to
the wood business; and to a gradual extension of the cultiva-
tion of the land. _ _

The wood business yields very favourable results. The
annual production is about 10,000 St. Petersburg standards,
or about 33,0c0 loads, costing on an average L 3, and selling
readily for shipment to England, France, Spain, .0., at prices
equal to an average of Li ss. per standard, tree on board at
the shipping ports, thus showing .a profit of £1 Is. ier stan-
dard. This production can b ; considerably increased by the
erection of more sawmills. _ _

The value of the iron ore is increased by the circumstance
that, without encroaching on the timb T adapted for more
valuable purposes, tie forests of the estates and the waste
wood at the different sawmills Ave an abundant supply of
charcoal, at a low cost, so that 25,000 tons of pig iron can
readily be made at a cost of £1 19s. per ton, free on board at
the shipping port, while the present selling . price is above
£4 per ton.
A ready sale of the ore may be safely calculated on at the
estimated price of 153. per ton, free on la)ard, at the a ipping
port, t., the owners of the for, sts and sawmills on both the
sarcdish and Finland side of the Gulf of Bothnia, wno have
now large quiantities of wood annually wasted, which they
con ei turn into value by making charcoal of it if they could
obtain good iron ore at a moderate cost for smelting.
The only obstacle for working the mineral property has
bee.‘ the oifficulty of transport of the ore from the mountain
to the furnaces a, d shipping port. The Swedish Govern-
ment anti act, fu ly appreciating the great benefits which
the working of these valuable mines would have on the
national prosperity, have now lent their aid by granting a
considerable subvention for facilitating the transport.
Very careful -urveys have proved that the most cc ,nomi-
cal means of transport will be by ara lway from the iron
mountain to the river Lu;e, a distance f about sixty English
miles, and by further making two short canal- .o avoid
rapids and fat a, which will render that river navigab e to
the port cf G tddvik in the Gu lof Bothnia.
The entire cost of this raiiway, inchelincr rolling stock.
and of the two canals, will not existed £232,000, and towards
thi the Swedi h Government and Diet have granted a af.-
vention to the ,mount of 850,060 rix dollars, or about
£48,000.
This Company has cont acted to purchase all these vain-
islo,e estates for the sum of t225,0J0, in order to carry on and
extend the wood basin. s, to extend the cultivation of the
Tan to work the mineral wealth of the property, and to
cons ruct for this purpose the railway from the Gel ivara iron
mount in to the river Lule and the two canal on that river.
For these purposes a capital of £500,000 is required.
• The presen stock, about 8,000 standards of manufactured
wood goods, will be taken over from the vendors at their
actual cost price, whereby a considerable profit wi lbe directly
gained by the Company.
Three years will be required to construct the railroad
and the canals, so as to bring the iron business into full
operation.
The returns of the undertaking may then be fairly esti-
mated as under:-
Ist. From the sale of 60,000 tons of iron ore to pro-
prietors of furnaces in Sweden and Finland, at a
profit ot 6s. per ton
2d. From the production of 25,000 tons of pig iron at
the Company's own furnaces at a profit of .£2 Is
per ton
3d. From 15,000 standards of wood at a profit of
£llB, per standard
•
4th. From net income of railway 8,700
sth. From net income of canal and traffic thereon.. 6,395

£103,095
Deduct for management, &c.. 8,095

Net Profit
or 19 per cent. on the share capital irrespective of returns
from land, probable increase in sale of ore, and profits to be
derived from the Company making bar iron and steel.
During the first three years required for the full develop-
ment of the property, the vendors guarantee that the income
on the paid-up capital shall amount to at least 6 per cent. per
annum payable half-yearly, and they have bound themselves
to make up any deficiency in such amounts ; as security for
the due fulfilment of this guarantee, the vendors leave in the
hands of the Company £50,000 of the purchase-money, which,
together with the profits of the wood business, forms an ample
guarantee fund.
The map and schedule of the estates, estimates of clot of
railroad and canals, and estimates of cost of production of
iron and wood, together with the reports of Mr. 'I homas, and
of Mr. Alexander Erdman, and a letter from the Minister of
the Interior, in Sweden, bearing testimony to the great in-
terest of the Swedish Government in the undertaking, may
be seen at the Company's Offices.
Copies of the Memorandum and Articles of Association lie
for inspection at the Office of the Solicitors, Messrs. Dawes
and Sons, and at the Temporary Offices of the Company. ..e
Application for Shares must be made in the annexed form,
accompanied by a deposit of £1 perlication for Shares may be
Share.
Prospectu.es and forms of app
obtained at the Temporary Offices of the Company and the
London Financial Association (Limited), 1, Threadneedle-
street, and the Brokers' ; the branches of the English and
Swedish Bank in Stockholm and Gothenburg will also re-
ceive applications and deposits for Shares for transmission
to England,

This form must be delivered entire to the Bankers of the
Company, and, after payment of deposit, the application to
be retained by them.

FORM OF APPLICATION FOR SHARES.
To the Directors of the Gelliyara Company (Limited).
Gentlemen,—Having paid to your Bankers, Messrs. Smith,
Payne, and Smiths, the sum of £ , being a deposit of Li
per Share on Shares in the above Company, I hereby
request that you will allot me that number ; and I hereby
agree to accept such Shares, or any smaller number that may
be allotted to me, and to execute the Articles of Association
when required, and to my name being placed on the Register
of Shareholders for the Shares so allotted.
Name in full
Residence
Profession or Business
Date

MESSRS. BOIT, JACKSON, AND CO.
execute COMMISSIONS on all races throughout the
year. Market price guaranteed. Remittances, London and
Westminster Bank. Post-voice Orders payable at Camber-
Well-park
N.B.—Betting on the Waterloo Cup.
Address—BoTT and JACKSON, "Man of the World" Wine
Stores, George-street, Camberwell-park, London.

WORSDELL'S PlLLS.—These Pills
are a purely vetretable preparation, and may be taken
t any time by either sex without fear or danger. They act
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blish a necessity for the habitual use of purgatives, and are
thus strongly recommended as the BEST FAMILY
MEDICINE.
Prepared solely by John Kaye, Esq., of Prospect Hall,
Woodford, Essex. Sold by all chemists and other dealers in
patent medicines, at le lid, 2s 9d, and fa 6d. Wholesale
Depot, 42, Bread-street, London.