The Sun.
London, England, 1864-03-24 00:00:00

ISSL

Secured by a Registered cons'ituting a lien on
the income and all corporate rights, privileges, lands, fran-
chises, plant and pro,.erty of the Pennsylvania and New York
divisions of the Railway.
The Bonds are r, deemable in New York or in London at
4s. 6d. per dollar, and are transferable mithout stamp or en-
dorsement; 4 per cent. of the gross amount will be drawn
yearly in July, commencing in 1865, to be pa'd off at par in
London ; Interest Coupons are attached to the Bonds, pay-
able semi-annually, at the Consolidated rank in London, at
the fixed rate of 4s. to the dollar.
The Bonds will be issued at 70. viz.:—
Bonds of 100 dola. at Xl5 155., with interest from April, 1,1664.
603 £7B 155., 11 91

, 1,0:0 „ £157105.,
These Coupons represent £l4 per annum on each bond of
1,000 dollars (£225), or nearly 9 per cent. ou price of issue.

TO THE BONDHOLDERS OF THE ATLANTIC AND
GREAT WESTERN RAILWAY.

When the First Mortgage Bonds of the Pennsylvania Sec-
tion of thi 4 Railway were issued, ft was uncertain whether
the Company would proceed immediately with the construc-
tion of the road beyond Akron (in which case arrangements
would have been made with other t_ omptnies for the com-
pleting link from thence to Dayton), or at once push forward
the whole line, and so keep the command of he traffic.
The business of the ortion of the road between Salamanla
and Akron, aed of the branches, developed so rapidly, befit?
only limited by the !upply of Rolling Stock, 'hat the Direc-
tors dec dei to open the Railway throughout its whole ex-
tent with all possible despatch. This policy, under the.r
able engineer. Mr. Kennard, has been so energetically carried
out that the line is now in operation as far as Ga ion, and
will be ready for traffic to Dayton by the Ist o' May. It has
therefore become des'rable to offer the Seco ,d Mor:gage
Brave some months e4riter than was contemplated when tue
last issue of Bonds was made.
in order, however, that the original subscribers to, or the
present holders of, the First Mortgage Bonth may in no way
be prejud ced by 0114 issue of the Second Mortgage, it is pro-
pos* d to give to existing holders the priyileg- o. subscribing
for these Bonds, at the rate of one B nd for every two now
held, at a concession in price equal to a liberal Bonus.
in May the whole system of this Railway will be in opera-
tion, consls,ing of—
The Main Line from Salamanca to Dayton 385 miles
The Branch to Oeve and
The Franklin Branca and the Oil C:eek

Railway ..... . t 5 „
In all abo tOG rat e'—of which 302 have been successfully
worked during the winter. On the Ist of May it is inte ided
to run Express Trains through from New Yori., v a the Erie,
Atlant'c and Great Western, Cincinnati, Hamilton, and
Dayton, And Oh'in and Miss ssippi Railways, to St. Louis-
-1,2i) miles, in 40 hours, without break of gauge or change of
• carriages.
the income of the por ion of the li^e opened has reached
£3O per mi e per week within (Ile year of the opening of the
through route th_t receb•ts will be £6O per mile per week—
which will give dividend on the shares ex ceeding 25 ier
cent.. after providing for all expoicli.ure and the interest on
the whole i sue of Bonds

Dividends from 15 to z 5 per cent. are not unusual on well-
constructed and properly administered American Railways ;
from the numerous elements of prosperity held by the At-
lantic and Great Western, it is believed that the mileage re-
cepts wilt shortly equal those cf the London and North-
Western and other leading Eng ish Railways, whose cost of
construction ht.s been four-fold greater.
The Atlantic and Great Western has almost a monopoly of
the Petroleum traffic, and passes over the most extensive
bituminous coal fields in the world, for which an unlimited
market is about being opened in Canada ; and for its traffic in
agricultural products a .eading American authority says that
when some contemplated extensions are made, "1(',00 eight-
wheeled freight cars and 500 locomotives will not suffice."
The Bonds and Shares authorised to be issued over the
main line and extensions are:—