The Sun.
London, England, 1865-12-11 00:00:00

BA.NBERS.

The Consolidated Bank (Limited), London, Manchester,
and Norwich.
The National Bank, London, and Branches in Ireland.
Messrs. A. Heywood, Sons, and Co., Liverpool.
The Bank of Scotland, Edinburgh, and Branches.
SOLICITORS.
Messrs. Freshfields and Newman, Bank-buildings,
London, E.C.
BROKERS.
Messrs. Joshua Hutchinson • and Son,— Angel-court,
London, B.C.
'Messrs. E. F. Satterthwaite and Co., 38, Throgmorton-
street, London, E.C.
Messrs. Laurence, Son, and Pearce, 7, Angel-court,
London, E.C.

The Report of J. S. Forbes, Esq., well known to the
British Railway public as Vice-President of the Dutch-
Ithenish Railway, and General Manager of the London,
Chatham, and Dover Railway, contains full information
awed from personal inspection of the position and pros-
Peqs of the Atlantic and Great Western Railway, from
Which it appears—
The Atlantic and Great Western Railway system corn-
Prises-
-507 miles now in work, including 17 miles recently
opened.
100 miles in course of construction.

Total 607
°f Which 526 miles belong to the Company; and 81 miles
7,° leased for 99 years, at a low rent ($273,072 a year).
that
not yet fully completed, the traffic already equals
19i,t of many of the best American lines.
the
the first six months of 15465 the receipts upon
'le 322 miles then open were $2,579,737, equal at the
present rate of exchange to $7 in the £, to £368,533.
since July 490 miles have been opened, and the receipts
have been $2,011,676, equal to £287,382, for three months,
°r at the rate of £1,119,528 per annum. The subjoined
Plonthlv traffic return shows the steady increase of
-Ere.

I
•---.......-- Total.
1865. Miles Passengers Frei,ht.l
open. Mails, &C. 5 i 1864. ; 1865.
Fe
Dollars. Dollars. I Dollars. Dollars.
1,-nuarY.... 322 111,751 249,379 1 207,298 361,130
. ebruary... ,
is 1
109,718 277,930 . 229,041 387,648
larch ..... ~ 113,412 336,403 226,733 449,815
ril ........ „ 117,691 288,989 197,267 406,680
31,1 Y ......... „ 135,434 324,988 214,679 460,442
-tune
July 490 162,655 432,868 I 332,098 595,523
,411 gust, .
'',ePternbe"r „ 210,914 466,711 446,044 677,625
....._'etuber I „ 207,861 512,050 1396,847 719,911

r, This table includes the traffic of 33 miles of the Oil
ireek Railway which was constructed by and has
4itherto been worked by the Atlantic and Great Western
gailway Com Daily, but does not form part of the consoli-
dation: -
The actual result, therefore, is a gross receipt at the
~t.tte of upwards of £1,000,000 a year at the present ex-
hange
with 100 miles still to open, and a large increase
of traffic only waiting for a further supply of rolling
stock.
This large traffic is owing to two causes :
1. The Atlantic and Great Western line forms the
central link of the greatest line of through traffic in the
world, viz., that between the Western States of America
age
the Atlantic. From its shorter distance and advan-
of forming part of an unbroken line of 1,, 200 miles on
%littiforin six-feet gauge, it must always be the best line
%. communication by which the enormous goods and pas-
e,eger traffic centring in the Western cities of Cincinnati,
I;.eveland, Chicago, and St. Louis, can arrive at Now
'2l* and the sea-board.
tracer sung 1
traffic is equally enormous, owing to its
sing the newly-discovered oil districts of Pennsyl-
Oeia and the great coal-fields of Northern Ohio. Some
ofea
be ' the local traffic thus waiting for development may
formed from the single fact that this oil district now
Yields at the rate of 3,000,000 barrels per annum, for the
—llveyance of which as much as ed. to 4d. per ton per
41ile is willingly paid.
-A. Consolidation of the several Divisions of the Atlantic
Znd Great Western Railway under one executive has been
ne, and a mortgage for 30 million dollars, or 6 millions
1.„.7,r,1ing of bonds has been created, and also a capital of 30
,-I,"licn dollars of shares of 50 dollars each, based on the
hole property of the Company. The new shares will
illPersede those previously issued, with the exception of
4919,000 dollars of Preference Shares pledged as part of
le security for the Certificates of Debenture issued in
I,2ember, 1864, which will, therefore, remain Preferential
'6l those Certificates are paid off, when the whole be-
110 ordinary share capital. Provision is made in the
11°rtgage deed (under which the Consolidated Mortgage
-'l,ls are issued) for securing the rights of the existing
°l.tgage Bonds, and also for their exchange at maturity,
earlier, by consent of the holder, if authorised by the
gird of Control ; this being completed, the present Con-
-I;,,"(lated Mortgage will become the first mortgage over the
)„L'ele railway, with its branches, extensions, and equip-
se he Consolidated Capital will therefore consist of
No2;000,000, half in Shares and half in Mortgage Bonds,
",„,leh provides for the completion of the entire line.
et,',? meet the interest on these Bonds at 7 per cent. in
,ing, after paying all working expenses, it is calculated
Forbes that a gross annual receipt of $6,442,000
ett'„ll,d be sufficient, which is considerably less than the
date receipt, and $3,573,000 less than Mr. Forbes's esti-
a,,",e of the annual receipt when the additional 100 miles
eie,ePened, so that the security for the Bonds is ample,
of !here is every prospect that, in addition, a high rate
cap vidend will be paid on the $30,000,000 of Share
eOl he Consolidated Bonds have 25 years to run, with
n;,ll_Pens for interest at 7 per cent. per annum, payable
Crterly, free of income tax, at the Company's Offices, in
,4(1011 or New York, in gold. Interest is payable on 15th
-11417 1-tb. A il 15th July, and 15th October of each
year , 0 pr ,
It •
Of 0,18 proposed to appropriate the total authorised issue
tae 0,0
or £6,000,000 sterling Consolidated Mort-
160nds, as follows :
4t A reserve of $l6 142 000 will be placed with trustees
~-„e,et, either by conversion' or payment when duo, the
that nb divisional Mortgage Bonds, being the total amount
Fiod Jhas been issued, or authorised to be issued, as certi-
due Messrs. Coleman, Turquand, Youngs, and Co., after
Auexamination of the Company's books and registrars, or
to £3,228,400. This includes all Bonds issued to the
the and also the Bonds deposited with Trustees for
Certificates of Debentures issued in November, 1864,
itZ security of which remains unaffected by the present
'Tngements.
t,14. The. balance, viz.:—£2,771,600 is offered for public
11.0)scription, at the price of .£BO per £lOO Bond, including
45 Coupon due January 15, 1866, payable as follows
per £lOO Bond on application ;
10
25 " " on allotment ;
77 71 on 15th January, 1866, less coupon
20 £1 15s. due on that date ;
20 :: on 15th February, 1866 ;
ttll, „ on 15th March, 1866 ;
.4.o‘,Ylng for the January Coupon, the nett price of each
Aa u Bond will be £7B 55., or allowing for discount on pre-
'.lllents under£7B.
tlislihscribers will have the option of paying in full, under
441111 t, at the rate of 7 per cent. per annum; but, in de-
vioug,
due payment of the respective instalments, all pra-
tive bond
will be liable to forfeiture. The defini-
'or Re s being now ready will be delivered, in exchange
c 0 .p, as soon as it is fully paid up.
4v• l'2e,s of the law authorisin the consolidation of the
bondefte-•s, ttivisions and branches °of the Company, and deeds
or mortgage, of the form of consolidated mortgage
tf boiard of other documents relating to the present issue
')Olieit 81 are deposited for inspection at the offices of the
at 4.„ eys.
o,PPlieations must be addressed either to the Secretary,
'le oft
Icteria_ es of the Company, 5, Westminster Chambers,
boem,,_ street, Westminster, S.W., to the Bankers of the
eii,73;: or to the Brokers_ , from whom Prospectuses and
AT
°A Application can be obtained.
ATeAci,TIC ": Dec. 2, 1865.
AND GREAT WESTERN RAILWAY.
FORM OF APPLICATION.
th ((To be retained by the Bankers.)
130ar of Control, Atlantic and Great Western
Railway Company.
11411\Tri° ......
letue4 g paid the sum of £ I hereby
that you will allot me Consolidated
jit4Y; afle,-nonds of the Atlantic and Groat Western Rail-
tr.:llga u I hereby agree to accept such Consolidated
ge Bonds, or any less number that may be allotted
recording to the terms of the Prospectus.
I am, your obedient servant,

Signature
Address in full
Date
ICE ATLANTIC AND GREAT WESTERN
1413. RAILWAY.
°P CONSOLIDATED STERLING MORT-
ANT,. GAGE BONDS FOR £2,771,600.
I,„111,0 15 HEREBY GIVEN, that the LISTS of
lOdo -"TIONS for these BONDS will be CLOSED in
tQ-T,TI TUESDAY NEXT, the 12th instant, and on
-'DAY, the 13th, for the Country and Continent.
Atiantießy order.
5, W and Great Western Railway,
estnainster-chambers, Victoria-street,
""tnaiwtor, Dec. 7, ieq

CHARLES LAFFITTE and COMPANY
(Limited).
Established under the Companies Act, 1862, by which
the liability of the Shareholders is limited to the amount
of the Shares for which they subscribe, and in accordance,
with the International Treaty entered into between Eng-
land and France in May, 1862, in relation to Public Com-
panies established in both countries.
Capital, £3,000,000, divided into 150,000 Shares of £2O
each.

£1 to be paid on application, and £4 on Allotment, and
six months to elapse after date of Allotment before any
call is made payable.

Firstissue, 75,000 Shares, of which 25,000 have been
privately subscribed.

DIRECTORS.
Mr. CHARLES LAFFITTE, Chairman.
John. Ennis, Esq., Director of the Bank of Ireland.
Mr. F. P. Bayvet, Merchant, Censour of the Bank of

France. -
Harvey Lewis, Esq., M.P., Director of the National Bank.
Mr. H. Bourlon, Deputd au Corps Legislatif, Director of
the Paris and Orleans Railway.
F. B. llenshaw, Esq., Director of the National Bank.
Mr. L. C. Grimoult, Merchant, ex-President of the Tribu-
nal of Commerce of Paris.
George Bate, Esq., Great George-street, Westminster.
Mr. A. Gautray, 17, Rue du Cirque, Paris.
Sir John Gray, M.P., Charleville House, Dublin.
George Payne Kitson, Esq. (late of Sir John Guest and
Co.).

T DEFRIES and SONS
ei• Supply Merchants with Pattern Books Free.