The Sun.
London, England, 1864-08-18 00:00:00

PROSPECTUS.
The extensive and valuable properties of Crawshay Bailey,
Esq., M.P., known as the Aberaman Iron Works and Col-
liery, are of European celebrity, and therefore only a very
brief dPfeription of them will be necessary.
The property, which has been carefully surveyed by Joshua
Richardson, Esq., F.G.S., &c., extends over an area
of 1,530 acres of Freehold Land, and is on the North Crop of
the South Wales Coal Basin, and contains a greater number
of the veins of ironstone and coal than is usually found in
any property of equal extent.
One great and desirable feature of this property is, that it
is Freehold, except as to one-third of the minerals, upon
Which there is a trifling royalty.
The coal is the noted Aberdare St am Coal, and certified
by Mr. Richardson as " The best steam coal in the kingdom,"
and stands at the head of the Government list.
Mr Richardson describes the property in his Report " as
Containing 16 veins of coal, of the aggregate thickness of 48
feet, besides the numerous courses of ironstone, of the aggre-
gate thickness of 14i feet ; these extend over the area of the
whole estate, and there are four veins of the average th'ck-
Bess of 8 feet, which crop out on the side of the mountain ;
and below the 9 feet there are four more veins of coal of 10
feet in thickness."
The ironstone " is the black band, a carbonaceous ore,
which is comparatively rare, and yields from 60 to 70 percent.
of iron," and aso the ordinary argillaceous ironstone. The
aggregate thickness is s!i feet.
The estate contains at least 91,485,440 tons of whole or un-
'Worked coal, which would yield a supply of upwards of I,l'oo
tons a day, or 3E0,000 tons per annum for 304 years ; and of
black band iron ore, 4,640,500 tons, which is equal to 3,000
tons of bar iron per annum for 773 years ; and of argillaceous
Ironstone, 135,3.9,270 tons, which is equal to 500 tons per
Week, or 26,(00 tons of bar iron per annum for 1,300 years.
The estate communicates with the Aberdare Railway, and
is also most admirably situated for water, the river Aman
running through it.
This Company has entered into a provisional contract for
the purchase ot the whole of the freehold and leasehold
estates above referred to, including the whole of the mine-
rals, rents, royalties, wayleaves, &c., besides the ironworks,
coal-fields, and goodwill of the business, and a so the man-
Sion, 300 cottages, buildings, plant, machinery, engines,
stocks, railways, tramway's, and other property. -
Mr Crawshay Bailty, although working the property only
to a very limited extent, has realised very large profits, and
retires, in consequence of advanced age, with a princely for-
tune. Mr Richardson reports that the income may be doubled
or trebled N 1 ith moderate additional outlay, and Mr. D. Jones
reports that £lOO,OOl per annum net profit can easily be
realised ; and assuming only half this income be produ^ed,
and supposing the share capital upon which the dividend will
be payable to be £250,100, i follows that, after allowing in-
terest on loans, &c., from 15 to 20 per cent. will be ava table
for a dividend to the shareholders, and this not trom an un-
dertaking requiring to be developed, but from an old-estab-
lished and lucrative business.
It has been arranged that the services of the whole staff are
at the disposition ot this Company.
The Company will enlarge the capabilities of the Works
and Colliery, and thus materially enhance the value of the
property.
Joshua Richardson, Esq., has concluded his Report s fol-
lows :—" In conclusion, 1 beg leave to observe, that I have
rarely inspected a mineral property in which the facilities for
the cheap production and conversion of the coal and ironstone
are greater, and in which the vast resources may be more
largely developed. This property contains the best steam
coal in the k ngdom, for which at present there is a great de-
mand, at highly remunerative prices. Without presuming
to enter into a discussion of subjects not submitted to my
consideration, you will perhaps allow me to add, that a
greatly increased production ot both coal and iron might be
effected by the outlay of from £5,000 to £7,000, and that I
be ieve there are but very few conce• ns in South Wales
Which would be more highly remunerative were the deve-
lopment of its resources carried to a much greater extent."
Mr. David Jones has also reported as 1 ollows :
The Aberaman Estate Iron Works ann Colliery of Crawshay
Bailey, Esq., M P., in the county of Glamorgan.
I have been the thief engineer of several railways, mining
engineer for the late Thomas Po ,v ell, Esq., coal merchant,
and engineer for several iron works and collierle , including
Aberarnan for the last 25 years.
From this circumstance, and my acquaintance with the
Aberaman Works from their opening, I have no hesitation in
saying that Mr Bailey has worked them only to a very limited
extent ; and with a comparatively moderate outlay, a net
Income of £lOO, 00 a-year can be realised from the estate. I
am of opinion also that the income can be increased yearly
for a very long period, as the iron stone, black band iron ore,
and fire clay are, as it were, inexhaustible, and the Collieries
will yield 1,000 tons of the best steam coal a• day for about
300 years. The whole property is exceedingly valuable,
and possesses unusual advantages for manufacture, car-
riage, &c,
DAVID JONES.
Rumney Railway Engineer's Office, Machen, Newport,
Monmouth,hire, July 21, 1864.
With a view to keep the called-up Share Capital as low as
possible, arrangements have been made by which the vendor
has agreed to allow a large portion of the purchase money to
remain at interest • this will materially increase the dividends
to shareholders.
Copies of the Articles of Association, which contain the
terms of the provisional contract, and of the reports referred
to, may be seen at the offices of the Solicitors of the Com-
pany.
Applications for the remaining shares must be madein the
form annexed, and be accomp tnied by a payment of £t per
share ; if no allotment be made, the amount will be returned
forthwith ; if a less number is allotted than is applied for,
the amount paid on appli ation will be applied towards the
Payment of the £4 due on allotment—the balance, if any,
Oting returned.
Prospectuses and Forms of Applcation may be had at the
Office of the Company, and of the Bankers, Brokers, and
Solicitors ; and also at the Offices of the Financial Corpora-
tion (Limited), 14, Leadenhall-street, London.