The Sun.
London, England, 1864-02-17 00:00:00

EX OFFICIO.

The Consul General in London of the Argentine Republic.
ENGINEER.

James Brimless, Eeq., Victoria-street, West-
minster.

________
BANKERS.
The Imperial Bank, LothburY.
Messrs. Maus. and Co., Buenos Ayres:
SOLICITORS.
William J. Meymott, Esq., 4, Albion-place, Blackfriars.
The Hon. 3, B. C4orostiaga, Buenos Ayres.

BROKERS.
Messrs. P. Cazenove and Co., 52, Threadneedle-street.
SECRETARY—E. P. Thompson, Eel.
Temporary Offices— 27, Bucklersbury.
This Company is formed for the purpose of working a
valuable concession granted on the 26th July last by the
Congress of the Argentine Republic for the canalisation and
use of the Arroyo del Capitan, a narrow winding stream or
channel connecting the Parana de las Palmas and Lujan
Rivers, the latter of which it enters opposite the town of
San Fernando, 16 miles above Buenos Ayres ; together
with the erection and construction of such wharfs, ware-
houses and deposit stores as may be necessary to the require-
ments of the coasting trade of the interior rivers,
and the establishment of towing steamers to and from the
rivers Parana and Uruguay. According to the Bureau of
Statistics, 1860-1. at Buenos Ayres, the trade on these
rivers averaged 277.000 tons per annum ; and as the great
staples of wool, hides, and tallow are susceptible of inde •
finite expansion, this trade will no doubt annually increase.
The extreme difficulty of the navigation of the Capitan
stream is notorious to all those who are interested in
the coasting trade of the River Plate and its tributaries;
and it is equally well known that the expenses of
that trade under its present impediments and disa-
bilities exceed those in any other part of the
world. The vessels which come down stream in these rivers
always bring heavy deck-loads, which they discharge into
lighters in front of San Fernando, subject to all the delays
inevitable to such proceedings. Under these circumstances
it has become a matter of paramount importance to the
trade and commerce of Buenos Ayres that the objects which
this Company undertakes to carry out should be effected
without delay ; and as it is calculated that the net income
in tolls, wharfage, and deposits will not be less than 18 per
cent. on the Company's capital, it is obvious that the un-
dertaking will be a lucrative one for the shareholders.
The following extracts from official documents, published
in Buenos Ayres in May last, amply confirm what is said
above. The President, in his message to Congress, ex-
pressed himself in the following terms.
" When the stream of the Copan shall have been recti-
fied and canalised from the mouth of the Parana de las
Palmas to the River Lujan, and convenient wharfs
established with sufficient depth alongside, with ware-
houses of deposit and shelter exactly at the extremity
of the Railway from Buenos Ayres to San Fernando,
which is being rapidly carried on to its completion, the
benefit that such works must produce in aiding the traffic
of passengers and merchandise with the interior is beyond
all doubt. It may be truly said that all these works are
naturally connected with one another, so that the want of
one of them would seriously impede the commerce of the
country, With this understanding the Executive recom-
mends the bases for a concession. The enterprise being
beyond measure lucrative in itself, it has only been neces-
sary to stipulate some conditions of security, to the end that
the concessionaire may have the means of organising the
Company and raising the capital required.
" According to all calculations, the tolls, wharfage, and
warehousing that the Company is permitted to levy on its
various works represent only one-half of the ordinary ex-
penses with which merchandise in its present traffic is sur-
charged—and this, too, without taking into account the
thousand accidents with which it is complicated during the
the voyage, and the operations of loading and discharging ;
so that commerce will not only gain in the security and
rapidity of its transport, but also in a direct economy of its
freights and other necessary expenses."
The Committee of Finance of the Chamber of Deputies
made a report to that body to the same effect, and so did the
Navy Commission.
The works which it is now proposed to execute are
the first of the kind on the entire river coast, and they
will be situated at the only port on the Rio de la
Plata in immediate connection with 5,000 miles of in-
terior navigation, and effectually defended from all gales.
Moreover, it may be well to add, that the works now
proposed to be executed by this Company form a neces-
sary complement to the important railway to Cordova,
which is about to be carried out under influential auspices;
for when the works comprised in this concession are con-
structed, every ton of merchandise bound to Buenos Ayres,
or from thence into the interior, including Paraguay, Upper
Brazil, and Bolivia, will pass through this Company's pro-
perty, instead of being subjected, as at present, to the pecu-
liarly dangerous navigation of the River Plate.
The concession allows a net profit to the Company of 18
per cent. during a period of 20 years. This SUM is proved
to be 50 per cent. less than what the shipping interest now
pays to lighters and carts in the open roadstead of Buenos
Ayres, not to mention the inevitable losses from damaged
goods, demurrage, and theft, which by the present system
so largely burden consumption in that country, but will be
fully saved by these works. Yet this sum of 18 per cent. is
by no means the measure of the large profits which the
Company will have the power to make, for the limit of 20
years applies simply to the canal, the great and increasing
benefit derivable from the bonded wharfs and warehouses
remaining to the Company in perpetuity.
The materials, machinery, and tools for the construction
and working of the enterprise will be free from all import
duties, and from any other contributions of taxes, during
the period of 20 years mentioned in the concession.
The hydrogradhical surveys in ocnnection with the con-
cession are the work of iJommaneer F. W. Sidney,
Hydrographic Corps, R.N„ and the working plans and
estimated by P. Moneta, Esq., engineer to ;the Argentine
Government.
It is under these favourable circumstances that the
Directors have made arrangements with highly respectable
and responsible contractors, according to which they will
execute the works, under the superintendence of Mr. Brun-
lees, the Company's engineer, at a sum enabling the Direc-
tors to defray the charges of the concession, the payment of
5 per cent, interest to the shareholders during construction,
and the expenses of management, all within the limits of
the Company's capital.
A copy of the concession, original reports of the various
public departments, together with a map delineating the
proposed works, may be seen at the offices oinf the Company.
form,Ap the offices of the Company,
bankers.
pwlibcaict.bionmefyorb6shnbatreeisnemduastt
of the brokers, or of the
the nr
Buenosn cA z o r FOR
Ayres
BondedsH 'ti
tES
'W
Wharf and
To the DirFecOtßor3si OofF
River Transits ompany (Limited).
Gentlemen • dto your bankers the sum of
£ , I hereby request that you will allot me
shares of £2O each in the Buenos Ayres Bonded Wharf and
,--Ilaving p
River Transit Company (Limited), and I hereby agree to
accept such shares, or any smaller number that may be
allotted to me, and to become a member of the Company
I am, gentlemen,
Name in full
Address in full
Description
Date ............
Usual signature ......