The Sun.
London, England, 1864-11-29 00:00:00

A.IBO t Erio and Ni Total Mlles.
3,,AteNiagara Railway, belonging to same
l'ht 30 miles in length, is wholly in Canada, and secures
gr enormous coal traffic over 200 miles of the Atlantic and
noW eatern, by whom it has been constructed, and is
TheutetlY owned.
with The
route of this Great Railway, connecting New York
ella4 Bt. Louis, a distance of 1,200 miles (without
/'reee of carriages or break of gauge) passes through
lino • States, far removed from the scene of war. The
now completed, and in possession of a traffic
hut'', rutty fairly be called extraordinary. For September
szott4e gross earnings on 322 miles open were, at ordinary
of th"ge, at the rate of £1,100,000 per annum (exclusive
throbonus of 10 per cent. paid by the Erie Railway on all
sia:ttgh traffic, which will probably reach £1.00,000 per
son;itta additional), the earnings having increased since the
he 41,,,etteetnent of the year by 100 per cent. This, even at
pa present exchange, would leave a large surplus, after
Pois:eat of the interest in gold on the bonded debt. The
to increase the fares will of course,be exercised, if the
• fklit exceptienal rates of exchange should continue.
laiit!'e total bonded debt over the whole system of the At.
th, and Great Western Railway is £3,600,110, and with
kbP.teeption of proceeds of bonds £1,765,070, held by the
by .the the line has been constructed with funds advanced
e,,,seePitalists, whose anticipations of profitable results have
p~tiflr more than realised ; the railway, although only
• Vailtia"l- developed, exhibiting returns of traffic and na-
tl. 8 Which may without exaggeration be designated an-
eeryl:l tisk' undertaking was projected, it was found neces-
thro:;obtain powers for its construction from each State
or "
N isat•
tc°, which it would pass. This compelled independent
eonoetons and separate financial arrangements; the in-
it is attending which has become so manifest, that
tsijai eternained to consolidate the whole line nuder one ad-
hestBtrion. Pending the completion of legislative enact-
-1)0;8) it ftt
has been resolved to issue Sterling Certificates of
Des ,Tture, payable in three years, bearing interest at 8
orth",i
14. Per annum, which interest is guaranteed by the
IritiCtlli•dated Bank ; and the Principal secured by a deposit
tichitte Trustees of Bonds and Shares amounting at usual
jhe „gf3 to 44,230,493.
tkiAt Jaends and Shares so deposited will be kept at the
os,„ of, England, in the names of the Trustees, and the
%bi— Declaration of Trust to be executed by them may
BPeoted at the office of Messrs. Freshfields and New-
-Q,
NVeme Erie Railwa, of which the Atlantic and Great
the :111 is practically an extension, upon a mileage of about
tislet-atrto extent, but constructed at a cost nearly Ogee
tittly tas great, has earned in the present year sufficient nat
%totid of Fay interest on all its bonded debt, but also E.t divf-
teat A,;..0 Per cent. on ordinary stock. The Atlantic and
at
Railway, in addition to its through trafie
l'etror,4l°4 With the Erie, has almost a monopoly of the
fiber
i,,,' traffic in Pennsylvania, with vast coal fields, and
,i'llst,,"Portant sources of local revenue. The cost of its
"ebt ;"etion having been so much less, and its mortgage
at) a'?l:lBcqUently so much smaller, with an assureddtra.ffic
414:‘eqQai, it is estimated that in the throe years,
of
rittge
Prisei the certificates of debenture run, the payment
Th Pal will be provided for out of revenue a on. .
oltithe birectors of the Erie Company have manifested the
3i'ea-f,,,ation in which they hold the Atlantic and Great
(tittl;"rt Railway, and the opinion they entertain of its
....theits.° Prospects by contra Ming to supply for its use, at
tlternz?-,,,/4 expense, rolling stock to the extentof ono million
a 4,1'011,0:1i tl anti. and a.eat
en as nac
by Thomas W. Knard, C.E., engineer-in-
-'oef, and under the immediate superintendence of an
4Perieticed agent of Messrs Peto and Betts A re.
bet from S r S. Morton Peto, Bart., 111. r ~
is an-
ited, showing that the works have been.: executed
Bas the most substantial manner. Appended are some
et sties, derived from official returns, relating to the in-
ne4Bo in the carriage eastwards of produce during the past
4v Years from some of the chief cities of the West, with
dirletil traffic the Atlantic and Great Western Railway is
exteetlY connected ; from these figures the causes of its
aotdinar venue may be deduced. • ,
s 4, Certificates of Debenture are in sums of :£lOO, £5OO,
_
ne`;!l2C., 00 each; with Coupons attached for interest at 8
for the per annum,
. payable half-yearly. The interest
hank Whole term will be guaranteed by the Consolidated
To with whom securities have been lodged.
Itre 46 Price of issue is fixed at 90; and the instalments
Payable as follows :
it Per cent on application.
allotment.
15 o 17th January, 1865.
15 ~ 17th February,
17 ~ 17th March,
18 ~ 17th April,
15th May

leas coupon .E 4 per cent.
due on that day.

1/0
he 1682,ertificates will be paid off at par, on sth Novem-
'l% 1)( •
4t 04: 'Merest on the investment, including the redemption
44terst Is upwards of 12 per cent, per annum, exclusive of
Sub
un deferred instalments.
tm Beribers have the option of paying any or all of the
ce'llents in advance, and will be allowed a discount of 8
Aftt Per annum on such payments.
After allotment, scrip will be issued to it bearer." On
to; tuettt of the final instalment, the scrip will be exchanged
034,tertificates of debenture, with guaranteed interest
eztoli°llB attached payable 15th May and 15th November in
Year,

9, Great George-street, Westminster,
November 4, 1864.

.„.84t3ratt GURNEY, Esq., M.P.
v°llN P, KENNARD, Esq., and Trustees.
bar 41-4.13.LEs MOZLET, .Esq.
,Zapiii.Sirs„—You are aware that at the request of the
I:tits furnishing the funds for the construction of
'volt eantic and Great Western Railway, my Firm under-
)! the grave responsibility of the supervision of the Works
"4A)},ett" Line, to be executed under a contract with Mr
/tn and from the plans and designs of Mr Thomas
Adefr,'Auard, the engineer-in-chief of the Railway.
I▪ LlZrie the works were commenced, my Firm sent one of
~seetil:," experienced agents, who had superintended the
41101,,„'°4 of several large works, and who had been in its
▪ ripe the of thirty years, and entrusted to his
ttheilailwa 1a eupervision.of the various works to be executed
t
Y.
4'd trAle both to Mr. Kennard, the Engineer-in-Chief,
"yob 4r. McHenry, the Contractor, that I should state
th
I'4l h.—at the position we occupied, which might have
~s4keb'frlllvidious one has not in the slightest degree par-
b°4 that character, Etery recommendation of our
e~I";;48 been at once cheerfully carried out, and Mr.
gater;r7 has executed his contract with an honest desire
thg oat every engagement in a fair and liberal spirit.
hL° ballasted and laid in a y equal
,beet of bout style English railways, while thefull extremely
reas r;,,11,,"14 nature of the country through which it passes
tiata-,`"Aered necessary so few works of art, that its main-
4eed not exceed the average cost per mile of our
1.te11t46 at home. The stations throughout are of ample
1411.211,1 the siding accommodation fully equal to the
I%At ,h—kielathl of the traffic.
,i11441t 1)e very satisfactory to you to find that the En•
t givid :Chief states in his last report that the traffic at the
tim is sufficient to pay, at the then price of gold,
kafaue,,,4.4 on all the Consolidated Bonds of the entire
staling them not to be issued to a greater extent than
fie :31g11. . (six thousand fiva hundred pounds sterling) per
the
this
Estimates and predictions are so often falai-
,at thn is fact becomes peculiarly valuable, the more so
Oa' t: Present time the Rolling Stock is not more than
elling"' stilt 0 requirements of the local traffic ; and when the
Erin „,°elEl to be provided under,. the agreenrnt with
‘jatopany is placed on the line, these increased
reditln,'actattnot fail to produce an amount of traffic far t° it. the estimates which have been prepared in regard
I 441,
dear sirs, for Betts and self, yours faithfully,
S. MORTON PETO.

ill
"alle the
Carriage of Produce from West to East dur.
e Past Five Years derived from Official• Returns.
CHICAGO.
18,59 . Total Grain. Fat Cattle. Pigs.
1860
........ 16,751,138 bshls. .. 32,500 110,246
461 ....... .31.108,769 „ 92,000 .. 227, 04
1616 ....... 50,481,887 .. 1 5,000 .. 289,094
.......... 56,487,110 , .. 107,466 .. 491,135
......54,711,639 197,311 .. 862,200
MILWAUKEE. •

/869. Total Grain.
laco • • ....... 6,650,896 t shls.
18g . • • ....... ..
9,993,0:0 ~
1862 •. ....... 16,7 0,580 ~
183 ......... 18,732,389 ~
....... • • .16,992,335 ~
TOLEDO.

Pork, B • et
Lard and Tallow.
.. 10,206,400 lb&
11,018,000 „
.. 14,68!,103 „
.. 30,553,'`68 „
.. 41,6)9,555 ~

1860 Floar. Wheat.
181'1 •••• • 8( 3,700 brls. 5,013,335 bshls.
1862 •• • • -1,372,111 , 6,296,936 ~
'• • 1,585,325 9,827.629 ~
BUFFALO.

Cattle, Pig?,
and Sheep.
209,8,8
281,495
481,804

lgso Cattle, Pigs,
. Total Grain. and Sheep.
1861 .."• • • • 37,089,461 bohls.
862. ....... 61,460 14,040,303 lbs.
,601 ~ 25,999,823 ~
3863. •••• • • • 72,€,7t,454 ~ 107,129,461 ~ lie respects" 64,735,570 ~ 149,428,894 „
••- PETROLEIIM, in the carriage of which this
rtt -•A•aila•
roleli„, aY has principally the monopoly :
~ —I Produced in 1859
750 bblo. of 40 gallons
1860 .. 50,000 „ ~
~ 3861 .. 550,000 „ ~ „ 1862 .. 2,000,0 W ~ ~
e, 0
"s 4
1eye1.,,:: , 1863 .. 2,220,000 ~ ~
---% zirelloh of the Atlantis" and Great Western