The Sun.
London, England, 1864-02-26 00:00:00

No. 22,362.

WHERE CAN WE MEET AFTER THE
PANTOMIMES 7 My dear Fellow, Gentlemen sup
at EVANS', Covent-garden. •

TZINAHAN'S LLB R IAVNHD IYS K Y v. COGNAC,
This celebrated Old IRISH WHISKY rivals the finest
FRENCH BRANDY,
It Pare, Mild, Mellow, Delleions, and very Wholesome.
Sold in Bottles, 38. td., at the Retail Houses in London ; by
the Meats in the prin lipal towns en England; or wholesale

8, GREAT WINDMILL-STREET, W.
Observe the Red Seal. Pink Label, and Cork branded
Kinahan's LL Whisky."

GOVERNMENT ANNUITIES BILL.-At a
numerously attended MEETING of the MEMBERS
of the LIFE ASSUR NCE PROFESSION, held at the
Offices a 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 Companies 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 andconvenience, 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.
9. That a Committee, wish 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, Esq., H. T. Tint old, Esq., J. Messent, Esq., Henry
Harben, Esq.
Communications in reference to the above subject should
be addressed to the Honorary Secretary, Hoary Harben, 35,
Ludgate-hill, London.

THE GFLLIVARA COMPANY (Limited).
Incorporated under the Companies Act, 1812, by will°
the liability of shareholders is limited to the amount of their
shares.
Capital £500,000, in 10,(01 shares of £5O each, with power to
increase.
Deposit £1 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
Rio etihs between each call.
C It., rest at the rate of 6 per cent. guaranteed during the
first three years.

DIRECTORS.
E. P. Alderson, Esq., 26, Old Broad-street.
Thos. Brassey, Jun., Esq., Great George-street.
Chas. Cammell, Esq., Sheffield and London.
W. K. Gladstone, Esq.. 574;01d tsroad-street.
J. H. Johnson, Esq., Director of the English and Swedish
Bank,
George Payne Kitson, Esq, 13, King's Arms-yard.
V. Kjellbe,g, 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
Gothenbu.g.
SOLICITORS.
Messrs. Dawes and Sons, 9, Angel-court, Throgmorton-et.
BROKERS.
Messrs. Mullens, Marshall. and Daniell, 3, Lombard-street.
Messrs. Laurence, Son, and Pearce, Bartholomew-lane.
SECRETARY.
Charles W. E trle, Esq.
Temporary Offices-1, Copthall-chambers.
This Company has been established for the purpose of
the
a property in the kingdom of Sweden, known as
the Gellivag r Estates, with the view of developing its great
resources.
The property comprises
(A) Abjut 1.200,000 acres cf land, 900,000 acres of which are
freehold, and the remaining 300,000 Ores can be made of the
same tenure. More than 500,000 acres consist of good forests
of red and white pities 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 Gellivara iron bed is probably the largest and
most productive in the worid, extending over nearly three
square miles. The ore consists partly of hematite and partly
of protoxide 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 systema!ie 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 by removal of top rubbish and vegetation on the line
of bearing of the ironstone, before it will be found necessary
to apply any machinery for drainage."
The mountain was likewise inspected in 1852 by Professor
Erdmann, Chief Director of the Royal Geological Surveys in
Sweden, and, according to his report, a great number of the
veins arc 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 33,000 loads, costing on an average £3, and selling
readily for shipment' to England, France, Spain. &n, at prices
equal to an average of £1 ss. per standard, tree on board at
the shipping ports, thus showing a 'profit of £1 ss. rer stan-
dard. This production can b considerably increased by the
erection of more sawmills.
Tice value of the iron ore Is increased by the circumstance
that, without encroaching on the timb.:r adapted for more
valuable purposes, tie forests of the estates and the waste
wood at Lite different sawmills ive an abundant ply 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 ef the ore nay be safely calculated on at the
estimated price of 15s. per ton, free on board, at the s' ipping
port. t.. the owners of the for sts n d s- wnr lls on both the
Swedish and Finland side of the Gulf of Bothnia, who have
now lane quanti'ies of wood annually wasted, which they
oou d 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 difficulty of transport of the ore from the maintain
to the furnaces shipping port. The Sw ,dish G.,vern-
Went and Diet. fu ly appreciating the great benefit which
the working of these valuable mines would have on the
nai lona! pro -perity, have now teat their slit by granting a
considerable subvention for fa2ilitating the transp,,rt.
Very careful .urveys have proved that the molt cc nomi-
cal means of transport will be by a ra lway from the iron
mountain to the river Lule, a distance f about sixty EnJi..ll
miles, and by further making two short canal • o avoid
rapids and fat s, which will render that river navigab e to
the port of G tddvik in the Gu f of Bothnia.
The entire cost of this railway, including rolling stock,
and of the two canals, will not £232,000, and t oward:
i the Swedi h Government andexeeed Diet have granted a ,n! -
ventton to the .mount of 850,000 rix dollars, or about
X 48,000.
This Company has contacted phrchase all these valu-
able estates for the sum of £225,070, in order to carry on and
extend the wood busine •s, to extend the cultivation ot the
lair], to work the mineral wealth of the property, and to
cons ruct for this purpose the railway from the Geliivara iron
mount ,in to the river Lule and the two.canat • on that river.
For these purposes a capital of £500,000 is required.
The present 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 :1 be 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
£18,004
profit of 65. per ton
2d. From the production of 25,000 tons of pig iron at
the Company's own furnaces at a profit of £2 Ist
per ton
3d. From 15,000 standards of wood at a profit of
18,750
£1 iss, per standard
700
4th. From net income of railway 8,
sth. Front net inoome of canal and traffic thereon 6,395

X10;,095
8,095

Deduct for management, &c..

Net Profit .................... £c5,000
or 19 per cent. 'on the share capi,al 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 t
the income
the full develop-
e
ment of the property, the vendors guarantee teat
on the paid-up caital shall amount to at least 6 per cent per
annum payable ha plf-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
guaraw ee fund.
The map and schedule of the estates, estimates of clst of
railroad and canals, and estimates of cost of production of
iron and wood, together with the reportof Mr. t homas, and
of Mr. Alexander Erdmann, and a letter trm 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 Solicitorts, Messrs. Dawes
and Sons, and at the Temporary Offices of he Company'
Application for Shares must be made in the annexed form,
accompanied by a deposit of £1 per Share.
Prospectu,es and forms of application for Shares may be
ibtained at the Tem orary Offi 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
to
Company. and, after payment or deposit, the application
be retained by them.
FORM OF APPLICATION FOR, SHARES.
To the Directors of the Gellivara Company (Limited).
Gentlemen,—Having paid to your Bankers, Messrs Smith,
Payne, and Smitris, the sum of £ , being a deposit of .£
per Share on Shares in the above Company, I hereby
request that you w 11 allot me that number ; and I hereby
agree to accept such Shares, or anv 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