The Sun.
London, England, 1852-11-01 00:00:00

concern: --

" I hasten to answer your request for information I a-
specting the Sambre and Mouse Rsilway. When the
first steps of this line were made by the Belgian engi-
neers, i❑ 1835, they estimated the traffic at 500,000 tons
to a line of 5,000 metros. The development of industry
since this period proves that the calculations are below
the reality. To instance a single fact. I will only speak
of the traffic with France. The Belgian engineers have
estimated it in 1835, at 125,000 tons. that is to say, in
wines and heavy goods coming from France, and in coal
exported from Belgium by the means of the railroad.
Bat in this instance, the solo department of the Ar-
dennes takes 90,000 tons of coal, and the town of Rheims
50 000 tt,na. 'rho cost of carrying these coals to Char-
lan& and Meziers at present is 25 frti. tho ton, and the
railway now proposes to take them there at the price of
18 to 19 frs. the ton. This reduction in price will double
the consumption of the Usines M 6 al ti goes, which still
use wood.
" The heavy goods and the wines will in all probability

increase 10,000 tone, so that the actual traffic by this
line will be 150,000 instead of 125,000, which was the

estimate of the Belgian engineers. Relying then upon
these facts and comparing them with what bus occurred
in all the Belgian railways, whose original value has
been estitna,ecl at 75 per cett. below their return, I be-
hove I can bring, without any exaggeration, the traffic
of the Sambre and Meuse Railwry scorn its opening to
six millions of tonnage, by reason of 40 centimes or 8
centimes the kilometre, this traffic will produce 2,400,000
fra. of receipts. Calculating the cost of transit, Itc ,
at 40 per Cent., an estimate too large for the trans-
port of morchandize, there remains a net annual
return of 1,440,000 or 6.80 per cent. of capital on
21 millions ememployed for the principal line, and
it, branches. The shares at 101. per share will
produce then 13.60 per cent. This plain relation of
facts tells you, that I consider that the shares of the
Sambre and Mouse Railway will speedily roach 161. per
share, and oven par. If there is an excess of expendi-
dure in the construction, there is compenealion in the
surplus of the receipts, assured by the general move-
ment of traffic, which the opening in France of_several
lines we did not expect, promises."
The railway meetings announced are the following :
—East Indian, Nov. 2, 50 Old Broad Street ; Leeds
Northern, Nov. 2, Leeds; London and North West-
ern, Nov. 3, Euston Station; Midland, Nov. 3, Darby;
York and North Midland, Nov. 2, York; York, New-
castle, and Berwick, Nov. 2, York.
The railway calla for this mouth are as under :

Date due. "Call."
*Mon to Besavcon 1 £2 0 0
Dundee and Arbroath, third' 1
Fleetwood, Preston' and West Riding 15
Miry port and Carlislp, 4 p. cent. Pref... 1
*Namur and Liege, Pref ........... ......... 1
Norfolk Debenture Shares 20 ... 1 0 0
Oxford, Wtirtester, and Wolverhampton,
Pref. (2d a110tment).........
*Pariss and Lyons, Bonds, 1
*Sambre and !dense, 51 per cent. Pref 1
*West Flanders, 51 per cent Prof l5
'The proportion called by foreign Companies is 466,6151.,
but the holdings of English proprietors are not known. The
total is about 614,000/. making 7,252,000/. this year.