The Sun.
London, England, 1863-06-16 00:00:00

PROSPECTUS.

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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.o. countries, and m thin.- 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 irom 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 wind inacces-
sible to vessels without th expense of a steam-tug ; this ter-
inmates in shoal water, where vessels are crowded together,
for the most part aground, subject to all the risks of broken
ribs, 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 all the pre-
sent heavy and constant expense incurred in dredging can-
not be sufficiently deepened for vessels to lie afloat. (Se
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 safety affirmed that the effect
of the testimony of successive Governors and other authori-
ties, colonists and shipping masters resorting to the port has
"Own to the present day been condemnatory of the present
shipping place and in favour of the North Arm, as affording
The requisite facilities for accommodating a large amount of
'pipping of any class, and of becoming, as originally in-
ended, 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 a eferred shares, to remain in the
hinds 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
sides of the harbour within the sphere of the Company's
Peratious.
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
shier. conveniences, affording ample accommodation to the
mi
~-e•nZ resorting to the port. Also an extension of two
Idles 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,
there by effecting a saving of 12 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
Cornmercial returns show that the exports and imports for
the year 1850 amounted to £1,416,389, that of 1860 to £3,123,307,
and that of 1861 to £4,053,165, the wharf dues upon which
amount to upwards of £30,000 per annum.
IX. The frontage of the proposed wharves, extending for
upwards of half a mile, where vessels drawing upwards of _0
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 ley' ied 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
t'ental 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 win atract to their property.
X. The cost of 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 captain aloorsom, C.E., at a sum within
the first issue of the company's capital. It is also estimated
that the whole of this amount will not be ,required for two
years. Responsible contractors are prepared to execute the
'works within the estimat . Any further capital will only
be raised as the increase of business and the advantage of
the company requires.
XI. The proprietors of the land will place In the possession
of the directors s, curities to pay 5 percent. Der annum on the
paid-up capital until the works are so far completed as to en-
able the directors to commence the business of the Company.
XII. The direct irs desire to draw attention to the impor-
tant advantap.es offered by the present undertaking, and con-
fidently refer to the map and the official documents pet forth
in the appendix, which embraces the site of the Company's
Property, as establishing the necessity for, and the highly
remunerative character of, the proposed works.
Prospectuses, with maps and appendixes, can be obtained
at the brokers, solicitors, and of the secretary at the Com-
pany's offices, 36, Old Broad-street, London, E.C.

FORM OF APPLICATION FOR SHARES.
To the Directors of the Adelaide (North Arm) Port and Rail-
way Extension and Land Company, South Australia
(Limited).
Gentlemen,—llaving paid to your bankers, Messrs. Barclay,
Bevan. and Co., the sum of £ , I hereby request that you
Will allot me shares of £2O each in 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, or any smaller num-
ber that may be allotted to me, and to pay the calls on the
shares allotted. And I request you to place my name on the
l'egister of shareholders.—l am, Gentlemen, your obedient
"rvant,

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