The Sun.
London, England, 1863-04-29 00:00:00

aolinKirkham, Esq., OE., 100, Euston-road, N.W.
James Pearce, Esq , 21, Threadaeedie-street, and Wimborne,
Dorset.
Theodore Richard Schweitzer, Eeq. (R. T. Schweitzer and
, 2r, Throgmortan-street, E.C.
Captain Benjamin Wr ght, Heath Lodge, Clapham,
BANKERS.
The Metropolitan and Provincial Bank (Limited), 75, Corn-
hili,
James Botirdilion, E FOLICITOR.
eq., 30, Great Winchoster,t treet.
:_'ECRETARY-31r. W. Battyr.
OFFICES.
0, Great Winchester str,et, E.C.
PROSPECTUS.
This Company 'a formed for the per-hive and working of
the Carloggns Tin Mines, situated the Faris', of St
Stephens, St. Ansi el, in the County of Cornwall, a dTstriet well
known am.aig mineralogists as being r'en in Tin )[ir.eral
deposits. The sett is very extensive, and he'd under le; se
from Lady Grenville, for a term of twenty-one year., at a
royalty of one-fifteenth.
The promising character of the Mines to be worked by the
present Company fully warrants the expe Cation that large
returns will be realised.; five Tin 1 odes are known to pass
through the sett, and on one of which operations have been
carried on to some considerable extent by the former
Workers.
The Mine is situated on the junct'on of Granite and Killas,
so favourable for the production of metallic miner cis, parti-
cularly Tin.
The ancient excavations on the backs of the lodes give evi-
dence that vast quantities of Tin !nye been raised on the
property, and recent explorations demonstrate this sett to be
of no ordinary kind, it being merely a question of capital for
a fuller development to biing it Into a dividend state.
The reports annexed are from men of long practical ex-
perience in the oistrict ; their testimony as to the highly
promising charric+er of the property, and the great local ad-
vantages by which it is surrounded, will be read with inte-
rest, and leaving nothing, to be urged by the Directors, ex-
cept an assurance of their strong c tnfidence as to its value,
and that ere long it will bear comparison with any of the rich
Mines opened in the district.
A contract has been entered into for the purchase of the
Property on most favoura' le terms—viz., for £6,000 (22,500
in cash, and £3,500 in paid-un Shares).
The capital of the Company is fixed at £15,000, in 3,000
Shares of £5 each ; it is, however, estimated that £2 per share
will be ample for all mini( sea, to place the Mtn-; in a profit-
able state, as immecilate returns of Tin can be m ide.
The Company having heen registered with limited-liability,
no Shareholder can, under any circumstances whatever, be
made responsible for aL than that of the shares
to which he sub ,cribcs.
A considerable portion of the capital has already been sub-
scribed.
The Directors propose to commence operations win n the 7
consider a sufficient number of shares have been subscribed
for. Applications for Shares to be made in the subjoined
form. The deposit money of 10s. per share to be paid to the
Company's Bankers, for which receipts will be given. If no
allotment be made, the deposit money will be returned in
full, and if a less number be al otted than is applied for the
surplus will be used towards the payment on allotment.
l'rospectus s and forms of application for Share., and all
further information, may be obtained at the Offices of the
Company.

T" ROYAL SARDINIAN' RAILWAY
COM PAN Y.
Guaranteed by the Italian Government.
A 50elete Anonyme ; the Liability of Shareholders Limited
to the Amount of their Share.
Share Capital, £1,000,000 sterling, or 25,000,000 f., in 50,030
Share, of £2O, or 5001., each, to bearer. With power to issue
£2,oro,oCio Nominal Capital, in Obligations or Debentures.
The Shares to be redeemed by lot, at par, out of the pro-
ceeds of Freehold Landed Estates granted to the Company ;
to bear Interest at 6 percent. per annum during construction,
and subsequently an estimated minimum annual dividend of
Thirty-two Shillings (equal to eight per cent.) per share,
based upon the Government Guarantee-, and payable during
the whole term of 93 years, on all shares, whether redeemed
or not.

Debentures or Obligations £2O, or 500 f. each ;
To bear interest at 3 per cent. per annum, repayable by an-
nual drawings within 41 years, at par ; to be issued at .£ +l,
or 2-15 f. each. Every subscriber for Shares to have a pre-
ferential option of claiming two Obligations or Debentures
for each Snare allotted to him.
The security f r the Capital and interest is a grant to the
Company in perpetuity of Freehold Landed Estates of the
Crown in the Island of Sardinia, comprisin 500,000 hectares,
or 480,C00 English acres, and a distinct State Guarantee of a
net annual revenue, or subvention, of 9,0(0 lire for each kilo-
metre of railway, equal to £5BO sterling per English mile, for
the term of 99 years.
Further Pa Deposit £1 per Share on application.
yments. on Allotment, £2 per Share, and £1 per
bligation or Debentur
Arrangements w Oill be made with nspect to further calls
Which will enable Shareholders to have the op ion of paying
up a Proportion of their Shares and Obl gations or Deben-
tures in full.
COUNCIL Or ADMINISTRATION IN ITALY.
ITonorary President—General Count Alberto Della
Marmora,
Marquis Gustavo di CAvour.
Marquis Boyl di Villaflor.
Signor Guise' pe Eanna-Sanna, Deputy of the Italian
Parliament.

ECTORS IN ENGLAND.
Thomas Barnes, 1..;&.q., M.P. (Director of the Lancashire
and Yorkshire Railway).
Charles Bell, Esq. (Messrs. J. Thomson, T. Bonar, and
Co.), London.
11. R. Grenfell, Esq, M.P. (Messrs. Pascoe, Grentell, and
Sons) London.
I. Leonino, Esq. (Messrs. I. Leonino and Co ). London.
John Pender, Esq., M I'. (Messrs. J. Ponder and Co.), Man-
chester.

BANERS.
Messrs, Glyn, Mills, and Co., London.
Messrs, Arthur Heywood, Sons, and Co., Liverpool.
The Consolidated Bank (Limited), Manchester.
Sigri. Fratelli Bolmida, Turin.
Bigri Fratelli Leonino di D , Genoa.
BROKERS.
Messrs P. Cazenoye and Co., 52, Threadneedle-street,
London, E.C.
Mr. Geo. E. Seymour, 38, Throgmorton-street, Lcn-
don, B.C.
Messrs. Hors'all and Addison, Liverpool.
Messrs. Shore and Kirk, Manchester.
SOLICITORS.
Messrs. Bircham, Dalrymple, Drake, and Ward, London.
Messrs. Littledale Ridley, and liardstveli, Liverpool.
ENGINEER.
Mr. Benjamin Piercy, C.E., 28, Great George-street, West-
minster.
INTERIM SECRETARY—Mr. J. J. Ridley.
Temporary Offices—s, Copthall-court, London, E.C.
The Government of Italy, desiring to deve'op the resources
of the Island of Sardinia by the introduction of foreign capi-
tal in the construction of railways, have, by virtue of an Act
Bearing the Royal confirmation under date of the 4th of
January last, conferred the following valuable concessions,
Which have been purchased for this Company :
First. The exclusive privilege of constructing railways in
the Island of Sardinia.
Second. A guarantee or savention for the lines now pro-
posed of 9,C00 lire for each kilometre of railway, or £sBosfer-
ling per English mile, per annum, net revenue, for a period of
99 years, payable as each section is opened for traffic; and,
Third. An immediate grant to the Company, in perpetuity
and absolutely, of freehold landed estates, belonging to the
Crown, in the Island of Sardinia, containing. 200,000 hectares,
or 480,000 English acres, the present value of which is offi-
cially returned at £500,000, but which it is manifest will be
largely increased by the conviction of the railways.
The £5BO per mile net guaranteed income, together with
the comparatively low rentals now proceeding from the
landed estates, and amounting, according to the Government
returns, to £24 000 per annum, are equivalent to an annual
dividend of at least 8 per cent. upon the total estimated cost
of the railways. This will be seen from the following calcu-
lation :
Annual Income--
Guaranteed Net EZ.ventio £5BO per mile for 240 miles £139,200
Present rent from the lands (suscept ble of increase) 21,0 0

Total
4163,200
Interest payable on £2,000,000 Obligations or
Debentures at £3 per cent .... . ........ £6',000
Estimated Dividend on
.C1,0o),0o0 ShAre
Capital at .£8 poc cent BO,OOO

J 110,000

Surplus income applicable to the redemption of
Debentures
Z,200
The special feature of this undertaking is, that while 23 the
Shareholders will receive an annual interest of 6 per cent.
during the construction of the line, and a dividend of at least
8 per cent. theTeafter on their capital, they will, at no dis-
tant date, have their capital repaid to them out of the pro-
ceeds of the Crown lands granted to the Company, and con-
tinue. never t' oleos, in the enjoyment of the dividends during
the whole period of 19 years. The order in which shares will
be paid off in this manner will be determined by ballot.
Toe estates are s tuated in various p,rta of the Island, and
will in great measure be intersected by, or in the neigh]) Jur-
hood of, the several lines of railway now projected, and also
the rev new roads about t.,b 2 eontructei by the
on Pounds
tor which purpose they have voted One Million Pounds
st ling. Some portions of the estat s are under till ige; a
considerable extent consists of pasturage, and the remaining
portions contain forests of oak and other valuable t,mber.
From these forests the do,kyards of England, France, and
Italy have for many years past derived and are now d riving
their supplies of the finest oak.
Sardit ia fs extreme,y rich in minerals, particularly silver-
Be,ppe and ironstone, the latter of the highest quality.
sides thes minerals, the Island contains extensive coal
fields, which will be developed by means of the intended
ail ways.
The lines n'lnv projected will be single (with requisite sid-
ings and passing places), and will be about 210 miles in length ;
:Cedx years are allowed fortheircompletion. They will be pro-
ed with in the five following sections :-
1. From Cagliari to Iglesias, the centre of the mining 4is-
triet and co ,l fields.
2. Front Cal-liar' to the city of Oristano.
3. Front Oristano to Ozieri.
4. From °Merl, through the city of Sat sari, to Porto Torres.
5. From Ozieri to Terra Nova.
Thus, throughout the %%hole length of the Island, will be
established a comp'ete syAtem of railways, bringing into
Closer connexion the respective shores of the Mediterrinean.
The most eminent contractors In this country have care-
fully examined the detailed surveys and sections of the pro-
jected lines, prepared by the Company's Engineer, and have
offered to contract for their construction at a sum which, after
making provision for all preliminary audc°,,notvvi-npgoeszed-
psnses, wi 1 fall within the amt. unt of capital
to be raised.

The work:ng expenses of railways in Italy and France
rarely average 42 per cult of tha gross receipts.
pany has stipulated for an allowan'e of ri Ave yea, in case
per cent., j_rs to be in_
ereased to 63 f 2-3 per cent. during the i
the gross receipts do not exceed 10.000 lire per kilometre.
On the other hand, the Government have reserved the op-
tion of purchasing the railways, at any time after the expi-
r.,tion of 30 yvrs upon payment to the Company of the_va,tte
01 the rolling Stock, &0., and an annuity for the remainder of
the term of 9) years ; such annuity to 13,3 not less than the
average net income of the five most productive of the last
seven years, and not less than the net income of the last year
preceding such purcbas,:'.
,The interes
Genill be payable half-yearly in London, Paris,
Turin, anda.
imittlifilated copies of the Act of the Italian Parliament, with
deaf the bland of ••ardinia, showing the course of the 1R-
Itircha:ailways, can be inspected at the offices of Messrs.
"V• • ' lialrYm D ke, d rd, 4,1 Parliament-street,
Ilrowi,M1,;?1,
Igs'srsraLitilud 1 ,a Wdle'v and Bards well,
Vorms 01`-nns, Ex•changee laiveerpolol
broke",
far Stares may be. obtained from the
nasea44thaerB,9 at the Tempor try Offices of the Company.
returned wittiootityealulettinoinents are made the deposit will be
Folt
To the Directors iniV'PLICATION FOR SITARES.
gland of the Royal Sardinian Railway
Company. -

Gentlemen'
II avint; paid to ~._
r, (nest o
t that yon ,jk''.illirailontkeerri the sum of £ , I hereby
termer
a
g,ti ions" of .£lO ea h „reap ~ Shares " and Obli-
Railway Company, 1111,11
ieuvely" i 4, the Royal Sardinian
Shares `and Oligations,"
nagree to accept the said
be allotted to me, uron the terrnigPrnaller number that may
with the Italian Go the 14 tatutes, to be azreed
upon by you
vernment, and to nay the
further deposit of £2 per Share upon th
Obliation upon the Olig-ations' allotteedSPares," and Z 1 per and in such a manner as ;you
so
ppoin..o me, at such time
I am, Gentlemen, '
Name in full . . .
Address in hitt ......... :
Profession or bust ''
(11.'''''
Plaoe of business (if s.ny) ' any,). • • •
Date.................... ......
Applicants for Shares only, will strike out the 199 rd N
t liki9M" 13A iln Aine 1911 A 9t P•141/CMI??1,