The Sun.
London, England, 1864-04-13 00:00:00

COMMITTEE OF DIRECTORS,

Pending the constitution, under the provisions of the conces-
sion, of the Company as a Societ6 Anonyme.
In England—
Somerset A. Beaumont. Esq., M.P. Directors of MI Anglo-
Frederick Engetha, dt, Esq. j Austrian Bank.
I. P. Brown- Westhoad Esq., M.P., Deputy-Chairman of the
London and North-We: tern Railway.

In Austria

I. If. Prince Leo Sapieha, President of the Carl-Ludwig
_ _ .

Count Vladimir Borkow,ti, D:reotor of the Car.-Ludwig

Railway.
Charles Klein, Esq., President of the Chamber of Comm rce,
Vienna.

BANKERS IN LONDON,
Messrs: Glyn, Mil s, and Co., 07, Lornbitra.streg,

BANKERS IN VIENNA.
The Anglo-Austrian Bank.
SOLICITORS.

Messrs. Bireham, Dalrymple, Drake, ald Ward, Parliament-
street,
BROKERS.
Messrs. Seymour aid Co., 38. Throgmorton-street.
Messrs. Cazenove and Co., Threadneedle-street.
TEMPORARY OFFICES.
54, Old Broad-street.

The great Trunk Railway from Vienna, in the direction of
the frontier of Moldavia, is at present complete as far as
Lem Pug. The communication is effected by means of two
lines. The first being the Northern Railway, from Vienna
to Cracow; the second, the Carl-Ludwig Rahway, from
Cracow to Lemberg.
The first of these lines pays about 14 per cant. upon its
P;epital. The second was completed only at the end of 1861.
but since its opening has paid 8 per cent. upon its capital, and
consequently has never required to claim the guarantee of 5
per cent. accorded to it by the Austrian Government.
The present line is the continuation from Lemberg to
Czernowitz, near the Moldavian frontier. The concession has
been granted by the Austrian Government on terms un-
usually favourable to the company undertaking it.
The proposed railway, enter ng into the heart of the grain
and cattle-producing district whence the Cari-Ludwig hne
obtains its most important traffic, and being constructed at a
very considerably less cost, promises to be more profitable
than its neighbour.
The continuance of the line through Mo'davia to Galatz,
on the Danube ifor which a concession has rcently been
granted by the Chambers of the Principalities),e must neces-
sarily add largely to the profits of the Lemberg-Czernowilz
Railway, which will thus form an integral r art in an un-
broken and direct railway communication between the Baltic,
the German Ocean, and the Black Sea.
The concession, the duration of which is ninety years, sti-
pulates for the comment: ment of the works previous to the
11th January, 1865, and for their completion within three
years ; but provision is made fur extension of these periods
in cane ot political or fi 'andel crisis.
The Government guarantee a fixed sum of Z 150,000 in silver
money as a net annual revenue of the line.
The sum thus guaranteed by the Government, after pro-
viding for the payment of interest at 5 per cent. on the
Bonds, and for an annual sinking fund, will leave a clear 7 per
cent. applicable to the share capital. The sinking fund will
be annually applied by lot to the redemption of the Bonds
and Shares at par. The proprietors of the Shares thus, from
time to time, redeemed will, for each share, receive a certifi-
cate entitling the bearer to a participation, during the re-
maining term of the concession, in ail the profits of the Com-
pany exceeding 5 per cent. on the original capital.
A contract, which wilt be adopted by the Company, has
been entered into by the concessionaires with Mr. Brassey
for a sum of £2,450,000.
This contract provides for the construction of the raliway
in accordance with the terms of the concession, and for stock-
ing te same wi Ring stock. It includes all thereli-
minarhy expensesth of r acquiring the concession and forming
tne Company; it makes provision for interest during con-
struction on paid. up capital at the rate of 6 per cen,. per
annum ; and it covers an ample reserve for the expenses
of manages ent until the railway shall be opened for public
traffic.
The concession confers the requisite power to form a So-
ciete Anonyme with Shares to bearer, whereby the liability
of the subscriber will be limited to the amount of 25 per
cent of the nominal amount of their Shares.
The capital of the Societe Anonyme will be £2,450,000; to
he ironed, £1,200,0)0 in Bonds, and £1,250,00 in Shares of
£2O each.
The Bonds have already been taken.
Preparatory to the formation of the Societe Anonyme
(which cannot be definitively, constituted according to Aus-
trian law until 25 per cent. of the share capital has been paid
up), the Lemberg-Czernowitz Railway Company has been
formed as a limited liability company, the shares in which
will be exchanged for Shares of a like denomination en the
Societe Anonyme.
A copy of the Articles of Association, of the concession, and
of the statutes under which it is proposed to constitute the
Societe Anonyme, can be inspected at the Offices of the Soli-
citors, 46, Parliament-street.
Applications for Shares must be made in the annexed
form, addressed to the Directors of the International Fin ,n-
-clal Society (Limited), and of the Anglo-Austrian Bank, but
no application will be considered, unless accompanied by the
receipt of Messrs. Glyn, Mills, and Co., or of the Anglo
tri n Bank, Vienna, for £l. per Share on the number of
Shares applied for. This sum will be returned in the event
of the application not being acceded to, and, if an allotment
is made, it will be applied towards the payment ot £1 per
Share then due.