The Sun.
London, England, 1863-06-05 00:00:00

DIRECTORS IN LONDON.
B. L. Bischoffsheim, Esq. (Messrs. Bischoffsheim and Gold-
Schmidt).
Geo.J. Goschen, Esq., M.P. (Messrs. Fruhling and Goschen).
Wiliam Miller, Esq., M.P. (Messrs. William Miller and
Co. St. Petersburg).
T. A Mitchell,'Esq., M.P. (Messrs. Mitchell, Yeames, and
Jervoise Smith, Esq. (Messrs. Smith, Payne, and Smiths).
IN RUSSIA-
His Excellency delCube, Vice-Governor of the Province of
Livonia.
James Armitstead, Esq. (Messrs. Mitchell and Co., Riga).
James Henry Hill, Esq, (Messrs. Hill Brothers, Riga).
HA
Messrs. Smith, Payne, and Smith.
SOLICIToRS.
Messrs. Freshfields and Newman. •
CONSULTING ENGIIIEEIL
John ti awksh w, Esq.
RESIDENT
Morgan Williams, Esq.
AUDITORS.
Messrs. Coleman, Turquand, and CO,
SECRETARY, pro tern.
Mr. W. H. Trumpler.
OFFICES.
21, Throgmorton-street, E.C.
This Railway, of the length of 161 Engli,h miles, will con-
nect Dunaburg, the terminus ot the Riga and Dunaburg
Railway, with Witepsk. Ihe Line passes throu ,h one of the
most productive districts of Russia, furnishing a large pro-
por ion ot the exports from Riga; and, in facilitating the
transport of produce of the rich and wheat-growing pro-
vinces of Smolensk, Mohilew, b ursk, and Orel, will prove of
the greatest importance both to England and Russia. In consequence of the absolute impossibility of forwarding
goods, at certain seasons of the year, and the very heavy
charges at all times, a great pert of the produce of these lat-
ter provinces has hitherto been almost lost to exportation, or
ava lable only in sea, ons when the markets of Western
Europe were approaching famine prices. The transport of
the colonial and foreign produce required in this part of the
interior, effected hitherto, to a great • xtent, at heavy charges
from St. Petersburg, will be carried on by means of this Rail-
way from Riga to Witepek direct, and be thence distributed.
There will also be a considerable passenger traffic, as the
above. named provinces are amongst the most populous of
the emp.re. This Railway will be the only convenient and
expeditious route foe the inhabitants both to St. Petersburg
and Western Europe.
The Russian Government, attributing special importance
to the early construction of th,s line, has granted a conces-
sion ot the most favourable character, embracing privileges
never before obtained.
Among the distinguishing
the following :-- features of the concession are
lat. The Company is to be constituted according to English
law, with the Board of Direction in London, and an Agency
of three Directors in Riga.
2d. the Government guarantees the interest in sterling
Money, not, as in previous cases, in roubles. The Government aso guarantees an additional sum
payable half yearly, on the capital of
.£2,600,000, sufficient to
reciet•in the whole capital at par in 85 yernrs.
4th. Both the interest anti the sinking fund are payable
half-yearly t fixed dates.
sth. The net receipts of the line are appl cable in relief of
the Government Guarantee ; but the Company is authorised,
in priority, to set apart 10 per cent. of such net receipts, to
the extent of £lOO,OOO to form a reserve fund agh lust contin-
gencies.
Bth. The shareholders are en iited to all net profits of the
line, up to 6 per cent., on the nominal capital or £4,600,000.
They are further entitled to one-half ot all urther proff s,
over and above the 6 per c nt., until tte Government is re •
imbutsel the moneys which it may have paid in respect of the
guaranteed interest beyond the net earnings of t,e line ;
after which reimbursement, the shareholders are entitled to
the whole of he net profits, whatever they may be.
A. contract for the execution of the line of railway lay the
30th November, 1867, with all necessary stations, buildings,
and works, and for the supply of rollinn• stock, according to
the specifications and requirements or the Government, has
been entered into by the concessionaires with Messrs, Peto
and Betts, under the superintendent„ and with the approval
of Mr. llawkshaw, the eminent civil engineer, for a sum of
£1 751,015. An arrangement has also been conchn'ed, by
which that contract, together with the concession. is to be
Trade ‘ver to the Company for the sum of £48,C00, which sum
_covers all preliminary expenses incurred in Russia and in
England, in connexion both with the concession and the
caution money of 4130,00.
show
By these
th arrangements the cost of the undertaking, as
a sum of Xn by e
2,14 1. subjoined statement, has been brought within
.
The Contract with Messrs. Peto and Betts for the
entire construction, including and Betts for the
entire Construction
amounamounts t,.......tilCiuding Rolling Stour,
755,915
ts t , ...............
The Engineering and .
during the wh le period of eons rucion, inclu-
ding the costs of the Preliminary Surveys, Arc.
has been contracted for at a sum ot..
•• ..... . 73,700
Interest during construction, which will be p.
id
at the rate of 6 per cent.. is calculated at about 106,000
Competent persons at Riga have offered to con-
tract for the purchase of the land necessary for
the Railway (the Crown Lands being assigned
gratuitously) at ........
The line is to be completed and ready for traffic 34,000
within 4i years from this time. The cost of
Offices, expenses in London, Riga, and Duna-
burg, together w th the r, muneration of the
Directors in London and Riga, is estimated for
the above period at..
- -
Price paid for the Concession, Contracts, and pre-
liminary expenses, as above ........ Brokerage and incidental expenses, say

48 000
6,000

From the above statement it will be seen that th4e2,al
---___
e43e ,
e 6
ail guarantee of ziao,ooo, e
eerdued by the Russian Government,
will yield, on the abova
615, revenue
at the ate of 6 per cent., indaeYpe°tdX2'l43,
fund and of the profits of the line, which
of the amtr ation
large sum, and that the amount' re are estimated at a
£B3 per share. required will not exceed
It is ountemplated to take power in the Aiticles of Aaan
elation to issue Deb, ntures in relief of the Capital, such t a
rate as will atiord a further benefit to the Shareholders.
An arrangement has also le en made with the contractors,
by which it is anticipated that a section of the line will be
opened by the 30th November, 1866, from which Femme a
saving f £40,000 may be anticipated to the Company on the
item of " interest during construction.
The Share Capital will be paid off at par by annual draw-
ings which will commence one year after the opening of
the line.
For further details as to the terms of the Concession, re-
ference„h may be made to the certified copy of the original,
;;"Icli lies at the Comp ny's office for inspection. The origi-
Xr document is deposited as customary in the Imperial
Articlesilv Bat St, Petersburr. An extract of the principal
01. Concession aece"mpanies the Prospectus.
Applicationsaddressed for Stares to be made in the annexed form,
tain seed to the I 'ireCtors ; but no application will be enter-
a InlieBB ressre
Payne, and accompanied with the receipt of 3 . . Smith,
applied for. Smiths,r, for £5 per Share on the number of Shares
applicaticni withis Bum will be returned in the e,ient of the
will be appliea being granted, and if an , llotmPnt is made it
to be made. thwards the paym.nt of £lO per Share then

----
p F.q
FORM OF APPLICATION FOR SHARES.
......... .....
To be forwarded to 21. Throgmorton-street, after
the Preliminary Deposit to the Bankers.
To the Directors of the Dunaburg and Witepsk Railway
payment of
t omp any (Limited).
Gentlemen,
Having paid to your credit, with 3.lresqrs. Smith, Pa, ne,
and Smiths, the sum of z
will allot m Shares in tiu, 2 I hereby request that you
Dunaberg and WPepek
Railway Company (Lhni ed), and I beret), a.ceept such Shares
ter number that may be allotted to me, and agree
or any sma
t„ 8 gn the Articl li of Association of the Company when re-
gored.
—1 am, Gentlemen,
Namein full ................ ................
Address in full .......
Date ................................
_

•• . .......

THE DUNABURG and WlTEpsx RAILWAY COMPANY (Limited\
The LISTS of APPLICATIONS for SHARES will be
CLOSED on TUESDAY, the 9th June, at pour o'clock.
W. H. TRUMPLER, Secretary pro term
•
(Aces, 21, Thrograorton-s.reet, E.C.,
ALIN WI) 1661