The Sun.
London, England, 1864-04-08 00:00:00

COMMITTE OF DIRECTORS,

Pending the constitution, under the provisions of the conces-
sion, of the Company as a Societe Anonyme.
In England—
Somerset A. Beaumont. Esq., ?L.P. Directors of tin Anglo-
Frederick Engelhardt, Esq. j Austrian Bank.
J. P. Brown-Westbead. Esq., 31. P., Deputy-Chairman of the
London and North-Western Railway.

In Austria—

11. 11. Prime Leo Sapieua,President of the Carl-Ludwig
Railway.
Count Wladimir Borkowski, Director of the Car:-Ludwig
Railway.
Charles Klein, Esq., President of the Chamber of Comm.rce,
Vienna.

RANKERS IN LONDON,
Messrs. Glyn, Hills, and Co., 67, Lombard-street, E.C.

BANKERS IN VIENNA.
The Anglo-Austrian Bank.
SOLICITORS.
Messrs. Bircham, Dalrymple, Drake, and Ward, Parliament.
street.
BROKERS.
Messrs. Seymour and Co., 38, Throgmorton-street.
Messrs. Cazenove and Co., Threadneedle-street.
TEMPORARY OFFICES.
M, Old Broad-street.

The gr,at Trunk Railway from Vienna, in the direction of
the frontier of Moldavia, is at present complete as far as
Lemberg. Tie communication is effected by means of two
lines. The first being the Northern Railway, from Vienna
to Cracow; the second, the Carl-Ludwig itai way, from
Cracow to Lemberg.
The first of these lines pays ~bout 14 per ca,nt. upon its
capital. The second was completed only at the end.of 1861.
but since its opening has paid 8 per cent. upon its capital, and
consequently has never required to claim the guarantee of 5
per cent. accorded to it by the Austrian GOVernlnk
The present line is the continuation from Lemberg to
Czernowit z, near the Moldavian frontier. The concession has
been granted by the Austrian Government on terms un-
usually favourable to the company undertaking. it.
The proposed railway, enter ng into the heart of the grain
and cattle-producing district whence the Carl-Ludwig line
obtains its most important traffic, and being constructed at a
very considerably less cost, promises to be more profitable
than its neighbour.
The continuance of the line through Mo'davia to Galati,
on the Danube 'for which a concession has recently been
granted by the Chambers of the Principalities), must neces-
sarily add largely to the profits of the Lemberg-Czernowitz
Railway, which will thus form an integral tart in an un-
broken and direct railway communication between the Baltic,
the German Ocean, and the Black Sea.
The concession, the duration of which is ninety years, sti-
pulates for the commenc: ment of the works previous to the
I ith January, 1565, and for their completion within three
years ; but provision is made for extension a these periods
in ca-e of political or financial crisis.
The Government guarantee a fixed sum of £150,000 in silver
money as a net annual revenue of the line.
The sum thus guaranteed by the Government, after pro-
vidint for the payment of interest at 5 per cent. on the
Bonds, and for an annual sinking fund, will leave a clear 7 per
cent. applicable to the share capital. The sinking fund will
be annually applied by lot to the redemption of the Bonds
and Shares at par. The proprietors of the Shares thus, from
time to time, redeemed will, for each share, receive a certifi-
cate entitling the bearer to a participation, during the re-
maining term of the concession, in all the profits of the Com-
pany exceeding 5 per cent. on the original capital.
A contract, which will be adopted by the Company, has
been entered into by the concessionaires with Mr. Brassey
for a sum of £2,450,000.
This contract provides for the construction of the railway
in accordance with the terms of the concession, and for stock-
ing the same with r Bing stock. It includes all the preli-
an nary expenses of acquiring the concession and forming
ttie Company ; it makes provision for interest during con-
struction on paid-up capital at the rate of 6 per cent. per
annum ; and it covers an ample reserve for the expenses
of management until the railway shall be opened for public
traffic.
The concession confers the requisite power to form a So-
ciete Anonyme with Shares to bearer, whereby the liability
of the subscriber will be limited to the amount of 25 per
cent of the nominal amount of their Shares.
The capital of the Societe Anonyme will be £2,450,000; to
be issued, £1,20:,0)0 in Bonds, and £1,250,01,0 in Shares of
£2O each.
The Bonds have already been taken.
Preparatory to the formation of the Societe Anonyme
(which cannot be definitively constituted according to Aus-
trian law until 25 percent. of the share caplal has been paid
up), the Lemberg-Czernowitz Railway Company has been
formed as limited liability company, the shares in which
will be exchanged for Shares of a like denomination in the
Societe Anonyme.
A copy of the firticles of Association, of the concession, and
of the statutes under which it is proposed to constitute the
Societe Anonyme, can be inspected at the Offices of the Soli-
citors, 46, Parliament-street.
Applications for Shares must be made in the annexed
form, addressed to the Directors of the international Fin ,n-
-clal Society (Limited), and of the Anglo-Austrian Bank, but
no application will be considered, unless accompanied by the
receipt of Messrs. Glyn, Mills, and Co., or of t e Anglo-Aus-
tri n Bank, Vienna, for Li per Share on the number of
Shares applied for. This sum will be returned in the event
of the application not being acceded to, and, if an allotment
is made, it will be applied towazds the payment ol £1 per
Share then due.

LEMBERG-CZERNOWITZ RAILWAY COMPANY
(Limited).
FORM OF APPLICATION FOR SHARES.
To be left wi h the Bankers.

No.
To the Directors of the International Financial Society
(Limited), and ot the Anglo-Austrian Bank.
Gentlemen,—llaving paid to Messrs. Glyn, Mills, and Co.,
the sum of £ being Li per Share on Shares,
of £2O each, which I request may be allotted to me in the
Lemberg-Czernowitz Railway Company Limited), and I
hereby agree to accept such Shares, or any less number, and
to become a member of the Company,
placed on the Register of Members in respect of the Shares
allotted to me. and to have my name
I am. Gentlemen, your obediedt servant,
Name in lull
Addrrss in full

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