The Sun.
London, England, 1863-06-11 00:00:00

PROSPECTUS.

I. This company is formed for the purpose of affording
more convenient accommodation for the shipping and com-
merce of the colony of South Australia under the following
circumstances :

11. The colony of South Australia, with its mineral and
agricultural products, is admittedly rich in all things which
can tend to create an extensive and prosperous trade with
other countries, and nothing retards its elevation to the
highest point of commercial prosperity so much as the want
of convenient and sufficient accommodation for the shipping
resorting thereto.
111. That portion of the Port of Adelaide to which the
shipping at present resorts is about seven miles from the city
of that name, and situated at the extremity of an arm of the
sea, which after leaving the point known as the North Arm
becomes a narrow and tortuous channel, two miles and three
quarters in length, difficult to navigate without. grounding,
and except at flood tide and with a favourable d inacces-
sible to vessels without the expense of a steam-tug; this ter-
minates in shoal water, where vessels are crowded together,
b
tor the most part aground, subject to all the risks of broken
s, broken backs, and conflagration—nor can these disad-
'vantages and risks be remedied at the present shipping place,
as the water is shoaling up every year, and with ail the pre-
sent heavy and constant expense incurred in dredging can-
not be sufficiently deepened for vessels to lie afloat. (See
Appendix)
IV. The serious and important nature of this question has
frequently engaged the attention of the Colonial Government
and Parliament, and it may be safely affirmed that the effect
of the testimony of successive Governors and other authori-
ties, colonists and shipping masters resorting to the port has
down to the present day been condemnatory of the nresent
Shipping place and in favour of the North Arm, as affording
the requisite facilities for accommodating a large amount of
shipping of any class, and of becoming, as originally in-
tended, and still desired, the permanent port for Adelaide.
(See Appendix.)
V. At the North Arm is a magnificent sheet of deep
Water land-locked, forming a natural basin of great extent,
with smooth water and of easy navigation for vessels of the
largest burden ; and the site selected by the Company, unlike
the adjacent land, is elevated above the highest flood, has
deep water in immediate proximity to the shore, and an
abundant supply of fresh water, with a frontage to the
harbour of over 3,000 feet in length for wharf purposes, and
of over 1,500 laterally, immediately abutting on the site re-
served for Government Graving Docks.
VI. An advantageous arrangement has been made with
the proprietors of the land required for the purposes of the
Company, by which nearly two-thirds of the purchase-
Money will be taken in .. eferred shares, to remain in the
11 Inds of the directors. on terms securing to the shareholders
a priority of dividend to the extent of 5 per cent., till the
profits yield sufficient to pay that amount of dividend on the
aggregate of the paid-up capital and deferred shares. The
remaining one third is to be paid in cash, at periods favour-
able to the shareholders. The property secured is about 700
acres (extending from the river across Lefevre's peninsula,
about one mile in breadth to the Gulf Anchorage), to be con-
nected with the western bank by means of a steam floating
bridge, and the Company has also arranged to purchase on
favourable terms additional land on the western bank oppo-
site the site already secured, with a view to bringing both
aides of the harbour within the sphere of the Company's
operations.
VII. It is intended to construct upwards of 2,000 feet of
wharf frontage at once, where vessels of the largest tonnage
may lay alongside, and to erect wharves, warehouses, and
other conveniences, affording ample accommodation to the
shipping resorting to the port. Also an extension of two
miles of railway to complete the line already laid down by
the Government, from the city of Adelaide to the North Arm,
and a short line of four-and-a-half miles to the Dry-Creek
Station, on the Great North and Murray River Railway,
thereby effecting a saving of 11 miles of carriage between the
great producing* districts and the port of the colony.
VIII. As proving the opening afforded for additional ship
accommodation by the increasing prosperity of the colony, the
commercial returns show that the exports and imports for
the year 1850 amounted to £1,416,389. that of 1860 to X 3,423,307,
and that of .861 to £4,04,155, the wharf dues upon which
amount to upwards of £30,000 per annum.
LX. The frontage of the proposed wharves, extending for
upwards of half a mile, where vessels drawing upwards of 20
feet of water can come alongside at low water, offers such
superior aavantages as must obviously secure a large propor-
tion of this business, and thus a very large return to the
shareholders, as by colonial law the wharf dues for all goods
landed are levied according to regulated tariff. Other impor-
tant sources of revenue are supplied by the rental of commo-
dious warehouses included in the estimates, the aggregate
rental of which cannot be estimated at less than £12,000 a
year ; also by the railways, land, and other rentals, which
will accrue from the large population which the operations
of the company will atract to their property.
X. The cost ot the undertaking, including the purchase of
the land, the construction of wharves, railway communica-
tion, and the e•ection of warehouses and other accommoda-
tion above-mentioned, has been carefully revised, and esti-
mated by the late t aptain alooraom, C.E., at a sum within
the first iSStie of the company's capital. It is also estimated
that the whole of this amount will not be required for two
years. Responsible contractorsaru4rgrared taelxwieclulteotnhlye
works within the estimat . Any
be raised as the increase of business andc gel advantage of
the company requires.
XI. The proprietors of the land will plat ce in the possession
epseor cteanropmerplaentenduasotno tee
.
of the directors st curities to pa
Paid-up capital until the works
attention to the impor-
able the directors to commence the business of the Company.
XII. The directors desire todraw
facial documents set forth
tent advantages offered by the present undertaking, and con-
ndenotlY refer to the map and the o
in the
and the highly
Property, as establishing the necessity
remunerative character Of, the proposed works.
at
Prospectuses, with maps and appendixes, can be obtnined
at the brokers, solicitors, and of the secretary the Com-
pany's offices, 36, Old Broad-street, London, E.C.O
FORM OF APPLICATION FOR SHARES.
To the Directors of the Adelaide (North Arm) Port end Rail-
way Extension and Land Company, South Australia
(Limited).
entiemen,—Having paid to your bankers, Messrs. Barclay,
Bevan, and Co., the sum of £ , I hereby request that you
will alint me shares of £2O each fa the Adelaide (North
Arm) Port and Railway Extension and Land Company, South
Australia(Limit,d) ;and I hereby agree to accept such shares,
pursuant to the articles of association,num-
ber or any smaller num-
shares allotted. And Ire on the
me, and to pay the calls
the
register 01 shareholders.—l a
request you to Discs my name on
servant, 'J., Gentlemen, obedient
your

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Address in full
Date ..............

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