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

THE DUNABURG and WITEPSK RAIL-
WAY COMPANY (Limited).
Incorporated with Li•-nited Liability under the Joint-Stock
Comranies Act, 1862.
The Line to be constructed under a concession granted by
bis Imperial Majesty the Emperor of Russia, dated 19th
March, 0 S., 1861
Nominal Capital, fixed by the concession, £2,600,000.
On which the Russian Government guarantees an annual
interest of £5 per cent., amounting to £130.000 in sterling
money, for 85 years, and an ad .itional 1-12th per cent, to
redeem the capital at par in 85 years, by annual drawings,
commencing the first year after the completion of the line.
The above capital will be issued in 26,000 shares of £lOO
each, bearing a minimum interest of £5 per share, which, on
an outlay of £B3 per share, amounts to a fraction above 6 per
cent, Interest on the calls, at the rate of 6 per cent. per
annum, will also be paid during construction.
Deposit, £5 per share on applicat on, and £5 on allotment.
0/,e-third of the capital has been taken by the Concession-
aires.

DIRECTORS IN LONDON,

H. L. Biaohoffscefin:ksq.(ifeesiZilsci;Offsheim and Gold-
Schmidt).
_..

Geo.J:Goachen, Esq., M.P. (Messrs Frailling and Gosohen).
Wiliam Miller, Esq., M.P. (Messrs. William Miller and
Co., St. Petersburg).
T. A Mitchell,'Esq., M.P. (Messrs. Mitchell, Yeames, and
Co.

jerroise Smith, FN. (Messrs. Smith. Payne, and Smiths).
DIRECTORS IN RUSSIA.

His Excellency de Cube, Vice-Governor of the Province of
Livonia.
James Armitatead, Esq. (Messrs. Mitchell and Co., Riga).
James Henry 171.1 i, Esq, (Messrs. Hill Brothers, Riga).
ISANKERI3.
Messrs. Smith. Payne, and Smith.
SOLICIToRS.
Messrs. Freshfields and Newman.
CONSULTING ENGINEER.
John fyawksh9w. Esq.
RESIDENT KNGINEER.
Morgan Williams, Esq. •
AUDITORS.
Messrs. Coleman, Turquand, and CO,
SECRETARY, pro tem.
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 of the Riga and Dunaburg
Railway, with. Witepsk. The Line passes throu h oue of the
most productive districts of Russia, furnishing a large pro-
por ion of the exports from Riga; and, in facilitating the
transport of produce of the rich and wheat. growing pro-
vinces of Smolensk, Mohilew. t 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 part of the produce of these lat-
ter provinces has hitherto been almost lost to exportation, or
avalable only in sea one when the markets of IN estern
Europe were approaching famine prices. Toe 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 Witepsk direct, and be thence distributed.
There will also be a considerable passenger traffic, as the
f
above-named provinces are amongst the most populous
the empire. This Railway will be the only convenientand
expeditious route for the inhabitants both to St. Petersburg
and Western Europe.
The Russian Government, attributing special imrortance
to the early construction of th s line, has granted a conces-
sion of the most favourable character, embracing privileges
never before obtained.
Among the distinguishing features of the concession are
the following :-
Ist. The Company is to be constituted according toEnglish
law, with the Board of Direction in London, and an Agency
of three Directors Ria.
2d. the Governmentg guarantees the interest in sterling
money, not, as in previous cases, in roubles.
Sd. The Government a so guarantees an additional sum
payable half yearly, on the capital of £2,600,000, sufficient to
rede. m the whole capital at par in 85 years.
4th. Both the interest and the sinking fund are payable
half-yearly t fixed dates.
sth. The net receipts of the line are applicable 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 against contin-
gencies.
Bth. The shareholders are
the
fitted to all net profits of the
line, up to 8 per cent., on the nominal capital ot £2,600,008.
They are further entitled to one-half of all urther profits,
over and above the 6 per c nt., until ttie Government is re •
imbursed the moneys which it may have paid in respect of the
guaranteed interest beyond the net earnings of ti,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 rsilway by the
30th Novemher, 1867, with all necessary stations, buildings,
and works, and for the supply of rolling stock, according to
the specifications and requirements of the Government, has
been entered into by the concessionaires with Messrs. Peto
and Betts, under the superintendent and with the approval
of Mr. Hawkshaw, the eminent civil engineer, for a sum of
41.755,915. An arrangement has also been concluded, by
which that contract, together with the concession. is to be
made ever to the Company for the sum of £lB,OOO, which sum
covers all preliminary expenses incurred in Russia and in
England, in connexion both with the concession and the
caution money of 2130,000.
By these arrangements the cost of the undertaking', as
shown by the subjoined statement, has
been brought within
a sum of .£2,141.815.
The Contract with Messrs. Peto and Betts for the
entire
amounts construction, including Rolling Sid,t
.......
The Engineering and Inspecti n .... ine £1,755,915
during the wh le period of cons ruciion, .nclu-
ding the costs of the Preliminary Surveys, &c.,
has been contracted for at a sum of
...... 73,700
Interest during,. construction, which will be p.aid
at the rate of 6 per cent.. Is calculated at about 196,000
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 .........
..........
34,000
The line is to be completed and ready for traffic
within 44 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 ahoye period at.. .... ...... .. .......
Price paid for the Concession, Contracts, and pre-
liminary expenses, as above
Brokerage and Incidental expenses, say

98 Ono
6,000

From the above statement it
.will be seen that the annual
guarantee of £130,000, accord by the Russian Government,
will yield, on the above outlay of £2,143,61's , a net revenue
ependv,elA af the amortisation
at the ate of 6 per cent., in,
mn
oatt e
exceed
atce e
da
fund and of the profits of the line,
large sum, and that the amount required will
£B3 per share.
It is contemplated to take power in the Aqicles of Asso-
ciation to issue Deb-ntures in relief of the Capital, at arate as will aiiord a further benefit to the Shareholders.
An arrangement has also b en made with the Contractors,
by which it is anticipated that a section of the line will be
opened by th. 30th November, 1866, from which source a
saving t £40,000 may be antici;ated to the Company on the
item of "interest (luring construction.
The Share Capital will be paid off it par by annual draw-
ings which will commence one year after the opening of
the line.
Por furtherfere„„n details as to the terms of the Concession re-
which—lT:saY be made to the certified copy of
the original,
at the Coma ny's office for inspection. The origi-
--unient • - in the Imperial
Archiv s.s deposited as eustoma y
Articles or ce• Petersburg. An extract of the principal
Applicatio,„nee:rBl°ll acc ‘mpanies the Prospectus.
addressed to the
f-- Shires to be made in the annexed form,
taro d unless anc''rectors ; but no application will be en er-
Payne, and smOmPanied with he receipt of Messrs. Smith,
applied for. Thi`:, 1 C 5 per Share on the number of Shares
Pp this not being granted,
will be returned in the evelit of the
-will be applied towardsnggrathnteedp,aaynrad:ll'ftaenf ~zllorotmpeenr t 6
his
to be made.amreatdheeint

---
FORM OF APPLICATION FOR SHARES.
No .......
To be forwarded to 21. Throgrnorton-street, after payment of
the Preliminary Deposit to the Bankers.
To the Directors of the Dunaburg and Witepek Railway
Gentlemen,
Company (Limited).
miirg paid to your Credit, with -11ressrs. Smith, Payne,
Smiths, the sum of Z
Shares , 1 hereby request that you
and
in the Dunaberg and Witepsk
will allot m
ComPany (Limi ed), and Ihe accept such Shares
Railway
ma ler number that may be allotted to me, and agree
or any
to s an sthe Articles of Association of the Company when Gentlemen,
quired.—l am,
.......
re-
Namein full ........... . ...........
Address in full ..............................
Date......................................

THE DUNABURG Ana WITEpsK RAIL-
WAY C IMPANY (Limited\
The LISTS of APPLICATIONS for SHARES will be
CLOSED on TUESDAY, the 9th June, at Four o'clock.
W. H. TRUMPLER, Secretary pro tem.
OfflCea, 21, Thromorton-street, E.C.,
June itb, 1803.