The Sun.
London, England, 1863-06-04 00:00:00

DIRECTORS IN RUSSIA.

His Excellency de Cube, Vice-Governor of the Province of
Livonia.
James Armltstead, Esq. (Messrs. Mitchell and Co., Riga).
James Henry Hill, Esq, (Messrs. Hill Brothers, Riga).
BANKERS.
Messrs. Smith, Payne, and Smith.
SOLICITORS.
Messrs. Freshflelds and Newman.
CONSULTING ENGINEER.
John H awksh %VT, Esq.
RESIDENT N:NGINEER.
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 English miles, will con-
nect Dunaburg, the terminus of the Riga and Dunaburg
Railway, with Witepsk. The Line passes through one of the
most productive districts of Russia, furnishing a large pro-
portion of the exports from Riga ; and, in facilitating the
transport of produce of the rich and wheat- growing pro-
vinces of Smolensk, Mohilew, ri 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
available only in seasons 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 extent, at heavy charges
from St. retersburg, 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
above-named provinces are amongst the most populous of
the empire. This Railway will be the only convenient and
expeditious route for the inhabitants both to St. Petersburg
and Western Europe.
The Russian Government, attributing special importance
to the early construction of this line, has granted a conces-
sion of the most favourable character, embracing privileges
never before obtained.
Among the distinghishing features of the concession are
the following :-
Ist. 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.
3d. The Government a'so guarantees an additional sum
payable half yearly, on the capital of £2,600,000, sufficient to
redeem the whole capital at par in 85 years.
4th. Both the interest and the sinking fund are payable
half-yearly at fixed dates.
sth. The net receipts of the line are appl cable in reli"f 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-
gencys.. _ _ _

---
6th. The shareholders are entitled to all net profits of the
line, up to 6 per cent., on the nominal capital of £2,600,000.
They are further entitled to one-half or all nrther profits,
over and above the 6 per cent., until the Government is re •
imbursed the moneys which it may have paid in respect of the
guaranteed interest beyond the net earnings of tee line;
after which reimbursement, the shareholders are entitled to
the whole of the net profits, whatever they may be.
A contract for the execution of the line of railway by the
30th November, 1867, with all necessary stations, buildings,
and works, and for the supply of rolling stock, according to
the specifications and requirements or the Government, has
been entered into by the concessionaires with Messrs. Peto
and Betts, under the superintendence 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 over to the Company for the sum of £48,000, which sum
covers all preliminary expenses incurred in Russia and in
England, in connexion both With the concession and the
caution money of £130,000.
By these arrangements the cost of the undertaking, as
shown by the subjoined statement, has been brought within
a sum of £2,143.615.
The Contract with Messrs. Peto and Betts for the
entire construction, including Rolling Stocir,
amounts to ...........
X 1 755 915
The Engineering and Ins peeti ....
.
derin Line
g the whule period of construction min.
the costs of the Preliminary Surveys, drc.
has been contracted for at a sum 0f....' 73,700
Interest during construction, which will be paid
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 4i years from this time. The cost of
Offices, expenses in London, Riga, and Duna-
burg, together with the remuneration 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

30,000

98,000
6,000

From. the above statement it will be seen that the 2
guarantee of L 130,000, d by the Russian Government,
will yield, on the above outlay of £2,143,615, a net revenue
at the rate of 6 per cent., independently detlz of the amortisation
fund and of the profits of the line,
wiesitilmnoatteedxceateda
large sum, and that the amount' required will
£B3 per share.
It is contemp,ated to take power in the Article
elation to issue Debentures in relief of the Capitals eLsAnacra-
rate as will aliord a further benefit to the Shareholders.
An arrangement has also been 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 source a
saving of £lO,OOO may, be anticipated to the Company on the
item of interest during construction.
The Share Capital will be paid 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 Concessioni re-
ference may be made to the certified copy the orignal,
which lies at the Company's office for inspection. The origi-
nal document is deposited as customary in the Imperial
Archives at St, Petersburg. \An extract of the principal
Articles of Concession accompanies the Prospectus.
Applications for Shares to be made in the annexed font rmer-
,
addre.sed to the Directors • but no applicaon will be e
tained '
unless accompanied with the receipt of Messrs. Smith,
Pane, and Smiths, for £5 per Share on the number of Shares
applied for. This sum will
be returned in the event of the
application not being granted, and if an allotment is made it
will be appi
to be made. ied towards the paymtnt of £lO per Share then

FORM OF APPLICATION FOR SHARES.
N 0..............
To be forwarded to 21. Thromorton-street, after payment 0
the Preliminary Deposit to the Bankers.
To the Directors of the Dunaburg and Witepsk Railway
Company (Limited).

Gentlemen,
Haying paid to your credit, with Messrs. Smith, Payne,
and Smiths, the sum of Z , I hereby request that you
Will allot m 4 Shares in the Dunaberg and Witepsk
Nadway Company (Lima ed), and I hereby accept such Shares
or any sma ler number that may be allotted to me, and agree
sgrl the Articles of Association of the Company when re-
-to
I am, Gentlemen,
quired.—
Name in lull ........
AddreDate ...
ss in full ............. .................

LUXURIANT WHISKERS, Moustach
in a fewtbe
stimulativewes
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Eyebrows producedby thees' and
ELLIOTT'S TONIC LOTION,
of which are unfailing in their operation. Thoniaii
itivites a trial from the most sceptical, that they
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a 'ad 21s. Forwarded on receipt of irstage stamps.Thora;,
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CANTERBURY HALL AND
FINE ARTS GALLERY.
NOTICE.— ENTIRE CHANGE OF ENTERTAINMENT.
This Evening the Marvellous ARTHUR and BERTRAND,
the Two French Clowns.

ARTHUR LLOYD'S burlesque Drama, arranged expressly
for him.
A. B. HOLLINGSWORTH'S new Comicalities, &c.
SAM COLLINS, with new Songs.
UNSWORTH, the celebrated Stump Orator.
EUGENE, and G. HUTCHINSON.
GRAND SELECTIONS from OPERAS, GLEES, and

CANTATAS.
Principal Artistes—Miss Russell, Miss Townley ; Mr. Green,
Signor Bunali, and Signor Tivoli.
Conductor, Mr. Jonghmans.
Admission—Hall, ed. ; stalls and balcony, is.

ROYAL ALHAMBRA PALACE. The
will
RISARELIS, in addition to their other performances,
entitled give ring the week a NEW ENTERTAINMENT,
LA 141 A-R. A BELLOS A PERCHA SELLAS.

ROYAL ALRAMI3RA. PALACE groat
Spanish Gymnasts, RISARELIS and .—The
BALAGER, in
Three separate Entertainments.

ROYAL ALHAMBRA PALACE.—The grace-
ful Madame ADAMS and the amusing CONRADE
Clowns.

ROYAL ALH AM BR A
MUSICAL ENTERTAINMENT, by Messrs.
son, Vernon, 1119 by, Bartleman ; Misses vpdrregor, Mrs.
Parkin-
Brian ; Messrs. Brian and Conley, Weiland, sto.

ARGYLL
PROMENADE CONCERTS. ROOMS.--DULL
NOTICE.—During the Week the Selections will
Trovatore "—" La Huguenots' —" La Forza del Destinel
&c., at Eleven o'clock.
Jullien's Gra
DERBY
ndE
Descrip
H tive Galop,
T,
To he dedicated to the Owner ot the Winning Horse.
LEVY, the great wonder on the Cornet-a-Piston, plays
from half-past Nine to Twelve.

ANlllustrated and Descriptive Catalogue of the
Wonders contained in the LONDON ANATOMICAL
MUSEUM sent post free for two stamps. A
Secretary, 29, George .street, Ilanover-square.

THE FARMER'S BAROMETER, 505., a
new Instrument, by Negretti and Zambra, will cor-
rectly indicate whether the Barometer falls for Rain or for
Wind. Particulars by enclosing stamp.-1, Hatton-garen
67, Corubill ; and 122, Regent-street.