The Sun.
London, England, 1864-11-26 00:00:00

Metropolitan Board of Works.

-•---
The usual weekly meeting of this board was held yesiel:.
day, at the offices, in Spring-gardens. The President, 1'
Thwaites, Esq., took the chair at 12 o'clock.
FINANCE.
TIE
sash statement for the current week shows a tots/-
general balance of , 13s 10d•
roLli
TE UTILISATION 0F£506 THE 927 SEWAGE. OF THE METED.
AND LORD R, MONTAGU.
Mr FREEMAN called the attention of the board to
ill
evidence given before Lot d Robert Montagu's coratnittectio
which it was stated that unfair means had been usedl
their own engineer in the contract of the Thames En 11,,,
ment for Mr Furness, although M: Ridley offered ado
work for a smaller amount. He mond that the idin:,e
and reported statement be referred to _ice Nain Dill
Committee for consideration and report.

Mr HEALEY seconded the motio.
Mr D'IFFANGER said it was the common renl3. 11,(4. ~es
board are in the dark as to what had taken place be"-b,
their own engineer and Mr Furness, the contractor, biltd,
was surprised that a gentleman like Lord Robert gat;
should, in the report which had been presented, lelicimullijo
self to so dishonourable a course. (Order.) Well, the—
would say, to a course so unfair, as he felt assured the'

b ard had done its duty.
Mr SAIIUDA. said this question had already beett ;
inquired into, and he considered that it would be n(ittija
but a waste of time to fake up this matter again by refer
it to a committee. Ho hoped Mr Freeman would withdr
his motion. imp
Mr H. L. TAYLOR said when he heard of this ra°"-nt to
thought it indiscreet and unwise, as it was tantaurhu-tilef
an admission that there was something wrong
wished to holster up by referring it to a cominittelget
therefore he thought it would be wise to let the "*"

alone. lie moved the previous question. be.
Major LYON said that insinuations and scandals 116- 01
circulated throughout the metropolis, through the Pre° el'
by gentlemen who take a prominent part in Publie,eitr
tions, and he was desirous of having the question fa di'
vestigated ; but ho was opposed to the subjeot beicg
hy
cussed in committee by the board with closed doorsvibli4
none of the arguments could be heard, and all the Pr-0.1
knew of their proceedings would be the result the'bijo
arrived at. Let them open their doors, admit the Pu
and the press, and then ho would vote for the motioe'
Mr RICHARDSON said he had -already expressed 111:1;00
nion upon this question, and thought the board might
on the integrity of its proceedings.
of t°4
Mr PHILLIPS said if the public know all the f--,ti AA%
case there would be no necessity whatever for 81311;10'
examination, but as they did not, a proper state
tneu

to be put before them.
Mr BIDOOOD was opposed to the motion, and he to.
pared to justify the course he had taken, althea° it
might not always accord with the opinions of those
sent him. IRO
After some remarks from Mr Evans, Mr Le Bra
and Mr Legg,
Mr NIGHOLAT vindicated the evidence he had gloio
before Lord H. Montagu's committee, and said be 97.00
favour of a full inquiry into all the facts in reference
Odessa contract.
Mr ROCHE said he had given evidence also beier"g
R. Montagu's committee, but he was compelled t°,7odei
an order of the House of Commons, and until be OS
he did not know what evidence he was to give. 0°;-810
give his evidence coached up, and no list of questions ;1
0
It
to answer had been put before him, but he did eel tee
was on the report of Mr Bazalgette that Mr ItidleYl° itisff
was rejected. That statement he made before the 00,0
and that statement he was prepared to vindicate OIL'
The Odessa contract afterwards came up, and 010 14.-,041
suspicion upon Mr Bazalgette's report" in the publi° 00
The secret of the Odessa contract was kept in the elloooo,
breast, and he never even communicated it to the eb6lol°
of the board. He said, without fear of contradiction, 'OO
the board had been in possession of the facts of the° LI
contract. Mr Furness would never have had tlll,
tract for the Thames Embankment. He had aP138,...0et1f,
fore a committee of:the House of Commons, and wr,„
could appear before a committee of the board. ge
on his trial before that committee, and he defended itte°
in public, but he would never go before a secret 00100
If this matter were to be investigated, let it be done
the
the board when the light of day could be lee in 00;100
proceedings, but if it was to bo done in secret be '4l
should decline to attend their meetings.
After a few observations from Mr NEIVTOX -
DOULTON,
11411
The CHAIRMAN put the question, when the orig-
tion was put and carried by a majority of 22 to 10. ofiti
After the transaction of some routine business tile
adjourned.

TfiE IMPERIAL MERCANTILE CREDIT
ASSOCIATION (Limited).
Area uthorised to receive applications for £2,800,000
Certificates of Debenture of the
4"1
-ANT
-10 AND GREAT WESTERN R k ILWAY
(New York—Pennsylvania—Ohio).
Of which
One Million Two Hundred Thousand Pounds
have been already applied for.
These Certificates will be issued at £9O for £lOO, to be
rMeerned t par, £lOO sterling, at the end of three years,
with Interaest at 8 per cent. per annum, payable half-yearly,
on the 15th of May and 15th of November in each year, the
PlYment of the Interest in London being guaranteed by
TIE CONSOLIDATED BANK (LIMITED),
LONDON.
TRUSTEES.
Samuel Gurney, Esq., M.P.
John P. Kennard, Esq.
Charles Mozley, Esq.
RANKERS.
The Consolidated Bank, London ani Manchester.
Messrs A. Heywool, Sons, and Co., Liverpool.
SOLICITORS. Messrs Presb.lields and Newman, Bank-buildings, Lon-
don, B. c.

BROKERS.
111Pssre
Thr Joshua Hutchinson and Son, 15, Angel-court,
~. ograorton-street. London, B.C.
'1" F• Satterthwait E 38 Throomorton-street, Lon-
don, E c e, 4,..q., , t:,
Ile • •
srs• T. Tinley and Sons, 44, Br 'lyres-buildings, Liver-
Pool.
lq
essrs. Shore and Kirk, 14, St. Ann'e-Equare, ➢lan-
chester.

imperial Mercantile Credit Association (Limited),
are prepared to receive Subscriptions for the above amount
of Certificates of Debentures, of which £1,200,000 have
been already applied for.
Atlantic and Great Western Railway consists of the
ng sions and Branches :
e Main Line in New York ..
. in Pennsylvania
in Ohio

.. 50 Miles,

34tension in New York (Buffalo)
to Oil Creek in Pennsylvania ..
to Coll Reg;ons in Ohio (New
Lisbon) ..
to Cievelaud -

- -
.. 245
385

.. 20 „
.. 67

- 16]

A. Total .. 552 Miles.
t Also the Erie and Niagara Railway, belonging to same
gatein .
s 30 miles in length, is wholly in Canada, and secures
G_`nortaous coal traffic over 200 miles of the Atlantic and
great Western by whom it has been constructed, and is
w chiefly
owned.
nth 8"rOlue hf-this' Great- itaffafray; 'ccrnnecting New York
ehSt. Louis, a distance of 1,200 miles (without
ptange of carriages or break of gauge) passes through
liee States, far removed from the scene of war. The
wheels now completed, and in possession of a- traffic
last h may fairly be called extraordinary. For September
es,,' ,the gross earnings on 322 miles open were, at ordinary
eith"earlbge, at the rate of £1,100,000 per annusm. (exclusive
of 10 per cent. paid by the Erie R on all
through traffic; which will probably reach Llooailwa,oy 00 per
• tAlea additional), the earnings having increased since the
the Presentee• izenoent of the year by 100 per cent. This, even at
ha xchange, would leave a large surplus, after
f.; Yolent of the interest in gold on the bonded debt. The
',orwer to increase the fares will of course bs exeicised, if the
present exceptional rates of exchange should continue.
he total bonded debt over the whole system of the At..
titatitie and Great Western Railway is L 3,600,110, and with
peebilzeeption of proceeds of bonds £1,7b5,070, held by the
by n'tC, the line has been constructed with funds advanced
'aPitalists, whose anticipations of profitable results have
partially
at' more than realised ; the railway, although only
vesttiellY developed, exhibiting returns of traffic and re-
Ile which may without exaggeration be designated un-
exampled.
Wh • sar en this undertaking was projected, it was found neces-
, ihrY to which for its construction from each State
0., °tie& it would pass. This compelled independent
a Pays
Oen "mations and separate financial arrangements; the in-
, It date mined to consolidate the whole line under one ad-
Zinistration. Pending the completion of legislative enact-
D 11?) if has been resolved to issue Sterling Certificates of
p p 'More, payable in three years, bearing interest at 8
ee' Cent per annum, which interest is guaranteed by the
With the Trustees of Bonds and Shares amounting at usual
„ange to £4 230,493
Finkßends and Shares so deposited will be kept at the
r of England, in the names of the Trustees, and the
• be ire of Declaration of Trust to be executed by them may
te,oll.BPected at the office of Messrs. Freshfields and New-
The Erie Railway, of which the Atlantic and Great
the -,ern is practically an extension, upon a mileage of about
titeneeole extent, but constructed at a cost nearly three
otil.,,ea great, has earned in the present year sufficient not
Pay interest on all its bonded debt, but also 14 divi-
lae teat alO per cent. on ordinary stock. The Atlantic and
in co,n, Western Railway, in addition to its through traffic
Petrol ~t 11„ 04 with the Erie, has almost a monopoly of the
' other '';'l3,l traffic in Pennsylvania, with vast coal fields, and
414Pertant sources of local revenue. The cost of its
det• afruction having been so much less, and its mortgage
at it consequently so much smaller, with an assured traffic
It'llir,i,"eial, it is estimated that in the three years, ailing
Pr 1,-„"; the certificates of debenture run, the payment of he
lt,"'Pal will be provided for out of revenue alone..
esti," Directors of the Erie Company have manifested the
It( —lation in which they hold the Atlantic and Great.
estern Railway, and the opinion they entertain of its
t!ll; re Prospects, by contracting to supply for its use, at
sie-r'ir, awn expense, rolling stock to the extentof one million
lng' •
„, The Atlantic and Great Western Railway has been con-
Nructel by Themes W. Kennard, C. 8., as engineer-in-
thief, and under the immediate superintendence of an
experienced agent of Messrs Peto and Betts. A re-
Port from Sr S. Morton Peto, Bari., M.P , is an-
nexed, showing that the works have been. executed
IL! the most substantial manner. Appended are
some
statistics, derived from official returns, relating to the in-
`tease in the carriage eastwards of produce during the past
4wyears from some of the chief cities of the 'West, with
liib.i_ traffic the Atlantic and Great Western Railay is
tuireet
connec'ed ; from these figures the causes w
ot its
...,,braotdinary revenue may be deduced.
attclll3.oei Certificates of Debenture are in sums eUXIOO, £5OO,
_bA,. '4OO each; with Coupons attached for interest at 8
• 'is cent. per annum payable half-yearly. The interest
tiar,Lllo whole term will be guaranteed by the Consolidated
The With whom securities have been lodged.
are PaYaprice
follows
I,a
Per cent on application.
30 allotment.
15 17th January, 1865.
15 17th February, „
17 ~ • 17th March,
18 ~ 17th April,
71 15th May

less coupon £4 per cent.
due on that day.

T
b he Certificates will be paid off at par, on sth Novem-
er, 1867.
Pariat Tnterest on the investment, including the redemption
Interest ja upwards of 12 per cent. per annum; exclusive of
on deferred instalments.
ills'atabscribers have the option of paying any or all of the
Per alments in advance, and will be allowed a discount of 8
Afterper annum on such payments.
toer allotuent, scrip will be issued to " bearer." On
rment of the final instalment, the scrip will be exchanged
Cou_certificates of debenture, with guaranteed interest
erls attached, payable 16111 May and 16th November in
Year.

9, Great George-street, Westminster,
November 4, 1861.

SAMUEL GURNEY, Esq., M.P.
, °RN P, KENNARD, Esq., and Trustees.
Cu I\IOzLEY, Esq.
Fti;,'„,iSirs,You are aware that at the request
thf theo
The ts
.futnishing the funds for the construcuinoner!
took`ylantic and Great Western Railway,. my Firm
Of tbue grave responsibility of the supervision of the Works
110 he Line, to be executed under a contract with Mr
W kentY, and from the plans and designs of Mr Thomas
j3-"iennard, the engineer-in.chief of the Railway.
its ~,'`ere the works were commenced, my Firm sent one of
xee--„°,B,t experienced agents, who had superintended the
etoplZ'en of several largo works, and who had been in its
thar;,,Y upwards of thirty years, and entrusted to his
oh .tn.llo 6npervision of the various works to be executed
it 4tailWay.
ihut tlos due both to dr. Mr. Kennard, the Engineer-in-Ch
state
°been't„ut the position we occupied, which might have
taken" invidious one, has not in the slightest degree par-
v.`'i that character. Every recommendation of our
.-1(1/,:-`es been at once cheerfully carried out, and Mr.
carrlrY has executed his contract with an honest desire
el'he fineevery engagement in a fair and liberal spirit.
;,0 the,s has been ballasted and laid in a style fully equal
Is'lvour:Lett of our English railways, while the extremely
-.le nature of the country through which passes
teilatendered necessary so few works of art, that
.its main-
titilw,ce teed tot exceed the average cost per mile of our
ekie,',YB at home. The stations throughout are of ample
teepil;) and the siding accommodation fully equal to the
It eLlienfs of the traffic.
lb
be very satisfactory to you to find that the En-
vreee,,:ll3.-chief states in his last report that the traffic at the
the et., time
;,, is sufficient to pay, at the then price of gold,
1414, I:4'ehd on all the Consolidated Bonds of the entire
'G,soacstlreing them not to be issued to a greater extent than
tltel (six thousand five hundred pounds sterling) per
'Jed, C"e• Estimates and predictions are so often talsi-
-44 at ttat this fact becomes peculiarly valuable, the more so
es
re Present time the Rolling Stock is not more than
heft
the requirements of the local traffic.; and when the
the Stock to be provided under: the agreement with
°°,llPany is placed on the line, these increased
c,innot fall to produce an amount of traffic far ex-
'e it. ° tile estimates which have been prepared in regard
I
`") dear sirs, for Betts and self, yours faithfully,
S. MORTON PETO.

'Le
1,,",`,0 in the Carriage of Produce from West to East dur-
° `4e past Five Years derived from Official Returns.

CHICAGO.
18, Total Grain.
18g
......... 16,751,138 Fat Cattle. Pio.
WM& .. 32,500 • • 9
110 246
18., ...... 31,108,769 , .. 92,000 .. 227, 64
iSP, ........ 60.481,8, 7 ' .. 1 5,000 .. 280,094
itiz,' ........ 50,187,110 ',l, .. 107,466 .. 491,135
•• • ... 51,711,839
~
.. 197,315 .. 862,200
MILWAUKEE.

180 Total Grain.
7800
........... 6 560,896 1 shlg.
1gR............ 9.993,0 0 ~
1862 ......... ..16,7,0,480 „
18c3
............ 18,732,389
...... • ..16,082,335
TOLEDO.

Pork, B ef,
Lard and Tallow.
1b,2C6,400 lbs.
.. 11,0.18,' CO „
.. 14,68',103 „

.. 30,553,, 68
.. 41,6)8,551 „

1860 Flour. Wheat.
1841 •••• • 8f 3,700 brio. 5,033,331 bshls.
1862 ..... 1,372, I 11. ' , 6,286,936 ~
'••1,585,325 ~ 9,827,629 „
BUFFALO.

Cattle, Pig',
and Sheep.
209,6 8
281,495
481,804

Total Grain. Cattle, Pigs,
1860 and Sheep. 18..
. ..
...... 37,089,461 bshls. 14,040,303 lbs.
1,,,-.1
......... 61,460,601 „ 25,999,823 „
istc6l
....... 72,872,454 „ 107,129,461 ~
'AB „ ..... 64,735,570 „ 149,428,894 „
'esPeets PETROLEUM, in the carriage of which this
etr urnitailway has principally the monopoly
°l° Produced in 1859 .. 750bbls. of 40 gallons
, „ 1860 .. 50,000 ~ ~
~ 3861 .. 650,000 ~ ~ , ph , II 1862 .. 2,000,0c0 „ ~
1863 .. 2,220,000 „ ~
Itmlwe
iielevelani Branch of the Atlantic and Great Western
.1"/
1° eUgago4 to the Nil extent cof its capacity In the

THE BAUGPARAH TEA ESTATES
COMPANY OF ASSAM.
The SHARE LIST of this COMPANY will be CLOSED
on THURSDAY next, the Ist December, for Town; and
FRIDAY, the 2d December, for the Country.
By Order.
T. R. E MILES, Secretary pro tem.
St. Michael's House, 24th Nov., 1864.

UNITED DANUBIAN PRINCIPALITIES.
LOAN of £916,000.
To be issued in Bonds to bearer of £too and £1(.0 each, at the
Price of 86 per cent.
Interest 7 per cent. per annum.
Sioking Fund 2 per cent, per annum.

- ,
Bonds to be redeemed by annual drawings, and paid off at

par in London in sterling."
1. The Government of tha United Danubian Principalities,
being fully authorised, have contracted a loan of £916,00
with the Imperial Ottoman Bank and Messrs. Stern Brothers,
who, acting on behalf of themselves, the Inteinationv Finan-
cial Scelety, the Societe Generale de l'Empire Ottoman, and
others, beg to notify that, under the powers given to them,
they are prep wed to receive eubscriptione for toe said loan,
at the price of £B6 for each £lOO stook.
2. The Loan will bear interest at the rate of 7 per cent. per
annum, payable half yearly, on the Ist March and Ist Sep-
tember in each year, at the Agency of the Imperial Ottoman
Bank, in London.
3. The Loan will be entirely redeemed in 221 years, from
1 .t March, 1865, by means of a sinking fund of 2 per cent. per
annum, together with the interest on the portims from time
to time redeemed.
4. The Bonds will be redeemed at 100, by means of draw-
ings by lot, in the month of January in each year, In th 3
usual manner, in the presence of a Notary Public, at the
Agency of the Imperial Ottoman Bank. The first drawing
w,ll take place in January, 1868, and the Bonds then drawn
will be paid off on the Ist March following, together with the
halt yearly dividend then due.
5. The interest and sinking fund of this Loan are specially
guaranteed by a first charge upon the Customs Revenues of
the l nited Principalities.
6. Tae Customs Revenues, to the amount necessary for the
payment of the interest and sinkin fund of the Loan, will
be pat 1 into be hands of the Imperial Ottoman Bank, a,
Bucharest, by monthly instaments, and will be remitted to
the London Aga ncy of the said B a:lk, for payment to the
Bondholders.
The ii.stalments since the conclusion of the contra3t have
been duty received.
The Custom Revenues amounted in the year 1861 to
£218,700.
The amount estimated by the Ministry for 1865 is £332,100.
The annual amount required for the interest and sinking
fund of this loan is £82,440.
7. Ihe payments by the subscribers will be as follows :-
5 per cent, on Application.
10 per cent. on Allotment.
10 per cent. on 9th January, 1865.
20 per cent, on Ist February „
20 per cent. on Ist March, less the Dividend of 34 per cent.
21 per cent. cm. let April, 1865.
In default of due payment of the instalments, previous pay-
ments will be liable to forfeiture. Scrip certificates will be
issued after allotment, and will be exchanged for Definitive
Bonds as soon as possible after the payment of the last
instalment.
8. Discount at the rate of 7 per cent. per annum will be
allowed on paymente in fill in anticipation.
9 Interest will date from the Ist September, 1c64, which,
with the discount allowed in pre-payments, will mate the
price of issue equivalent to ahout 83 cent. Taking into con-
siderivion the reimbursement of the Bonds at par by means
of the igniting Fund, the calculated return for money to the
Bondholder will be about 10 per cent. per annum.
1.0. In cases where no allotment is made, the deposits will
be returned to their respective owners within one week of
the close of the subscription.
11. Forms of Application may be had at the Agency of the
Imperial Ottoman Bank, No. 4, Bank-buildings ; of Messrs.
Stern Brothers, 6 and 7, Angel-court, 7 hrogmorton-street ;
and of Messrs. P. Cannon and Co., the Brokers to the Loan,
52, Threadneedle-street.
The principal object of the Government of the United
Principalities in making the p-esent loan is to provi, e for
the indemni yto be paid for the secularisation of the Convent
property. The Principalities of Wallachia and Moldavia
contain a population of about five mi lions, are exceedingly
rich both in mineral and agricultural wealth, and afford the
most promising field for capital and enterpri,e. The pre-
sent is the only foreign loan which the Govemmeni has
contracted.
The Co-Aract for the Loan may be seen at the Offices of
Messrs. Burcham and Co., 46, Parliament-street.

UNITED DANUBIAN PRINCIPALITIES LOAN.
FORM OF APPLICATION.
To be left a ith the Bankers, after payment of the preliminary
deposit.
To the Contractors of the United Danubian Principalities
Loan.

No.
Gentlemen,—Having paid to Messrs. Glyn, rills, Currie,
and Co. the sum of £ , I hereby request that you will
allot me £ Bonds of the United Danubian Principalitie3
Loan, and I hereby agree to accept such Bonds, or any
smaller amount that may be allotted to me, and to pay the
further instalments thereon according to the terms of the
Prospeotus. _ _ _

I am, Gentlemen,
lour obedient servant,
Signature ... ..
Address in full .......
Date to ke tip co to ,t)