The Sun.
London, England, 1865-11-27 00:00:00

NEATII AND BRECON RAILWAY.
(New Railway in Swansea Valley—Further Capital—
Narrow Gauge on portions of South Wales and Swansea
Harbour Railways—Powers over those Railways—
Traffic Arrangement—Amendment of Acts.)
NOTICE IS HEREBY GIVEN, That application is
intended to bo made to Parliament, in the next Session,
for an Act for the following purposes, or some of them,
that is to say,
To enable the Neath and Brecon Railway Company,
(hereinafter called " the Company,") to make and main-
tain the following railway, with all proper and necessary
stations, works, and conveniences, connected therewith,
that is to say,
A railway commencing at a point about 229 yards, mea-
suring the same in a south-westerly direction from the
road over the Swansea Canal, leading to Ynistawe farm-
house, and terminating in the town and franchise of Swan-
sea, in the pariah of Swansea ; at or near the southern termi-
alls of the Swansea Canal; and which intended railway
will pass from, in, through, or into the parishes and places of
Ll angefel a ch and St.John-juxta-Swansea, and the town and
franchise of Swansea, all in the county of Glamorgan.
And it is intended by the said Act to Confer upon the
Company all necessary powers for effecting the purposes,
or some of the purposes, following (that is to say),
To deviate laterally from the lines of the intended works
to the extent shown on the plans hereinafter mentioned,
and also to deviate vertically from the levels shown on the
sections hereinafter mentioned.

To cross, stop up, alter, or divert, for the purposes of the
Act, and either temporarily or permanently, any turnpike
or other roads, highways, footpaths, streets, railways,
tramways, canals, aqueducts, streams, rivers, bridges,
sewers, drains, ways, and watercourses, within or adjoin-
ing to the aforesaid parishes and places, or any of them.
To purchase by compulsion and by agreement, lands,
houses, and hereditaments, for the purposes of the intended
works and of the Act, and to vary or extinguish any rights
or privileges connected with such lands, houses, and here-
ditaments ; to levy tolls, rates, and duties, upon or in re-
spect of the saidintended railway and works ; to alter the
tolls, rates, and duties which the Company, and the other
Companies hereinafter mentioned, are authorised to take on
their respective lines; and to confer, vary, or extinguish
exemptions front the payment of such tolls, rates, and
duties.

TO raise additional capital for the purposes of the in-
tended Act, and for the general purposes of their under-
taking, by the creation of new, ordinary, or preference
shares, and by borrowing.

To lay dow-n and maintain additional rails in, upon, and
over the South Wales Railway, between the point about 3
miles and 4 furlongs, where the intended railway crosses
the end of the canal-sidings of the said South Wales Rail-
way and the termini of that Railway at Swansea, and also
in, upon, and over such portion of the Swansea Harbour
Railway as does not already consist of mixed gauge, and
in, upon, and over the terminal and other stations, sidings,
works, and conveniences connected with those portions of
railway respectively, so as to adapt the same to the passage
of, and user by, rolling stock on the narrow gauge as well
as on the broad gauge.
And it is also intended by the said Act to empower the
Company, and the Great Western Railway Company, the
Vale of •Neath Railway Company, the Swansea Vale Rail-
way Company, and the Llanelly Railway and Dock Com-
pany, to enter into and carry into effect contracts, agree-
ments, and arrangements for or with reference to the
maintenance, working, use, and management, by either of
the contracting Companies, of the railways, tramroads, and
works of the other of them, or any part thereof, and with
reference to the regulation ; management, and transmission
of the traffic thereon, the collection, payment, division, ap-
propriation, and distribution of the tolls and other income
and profits arising therefrom ; the employment of officers
and servants, and the rents, payments, allowances, and
considerations, annual, periodical, or in gross, to be paid or
made by either of the contracting parties to the other or
others of them, and any incidental matters.
The intended Act will empower the Company, and all
Companies and persons using their authorised or intended
railways, or any part thereof, to run over, work, and use
with their engines, carriages, and waggons, and for the
purposes of traffic of every description, upon rates, pay-
ments, terms. and conditions, to be prescribed by the Act,
railways
r(failin (failing agreement)
ont)f railway, viz.,settledbyar the Swansea bitration,thefollowing
Harbour
Railway; so much of the South Wales Railway as is
situate between the intended crossing before described and
the terminus thereof at Swansea, and the junction with
the Swansea Harbour Railway ; the Llanelly Railway
and Dock Company (Swansea Lines, Dock Branch) and
Extension to Mumbles ; the Vale of Neath, Swansea and
Neath Railway, the Swansea Vale Railway, and the
Oystermouth Railway; together with all terminal and other
stations, sidings, warehouses, buildings, booking and other
offices, approaches, watering-places, sheds, standing-room
for engines, shipping places, machinery, works and con-
veniences, water supplies, telegraph signals, and machi-
nery, in sad upon those railways and portion of railway re-
spectively, and to require the Companies and persons own-
ing and working the said railways and portion of railway
respectively, to afford and render all facilities and services
for the purposes aforesaid.
And it is proposed, so far as may be necessary for all
or any of the purposes of the intended. Act, to alter,
amend, extend, vary, and enlarge or repeal, all or some
of the powers and provisions of the several local and
personal Acts of Parliament following, or some of them,
viz., 25 and 26 Vic., cap. 193 ; 26 and 27 Vic., cap. 130 :
and 27 and 28 Vic., cap. 316, relating to the Neath and
Brecon Railway ; 9 and 10 Vic. cap. 341, and ail other
Acts relating to the Vale of Neath Railway Company ; 18
and 19 Vic., cap. 60 19 and 20 Vic., cap. 95 ;22 Vic., cap.
2 ; and 24 and 25 Vic., cap. 162, relating to the Swansea
Vale Railway ; 5 and 6 Will. IV., cap. 107 ; and 26 and 27
Vic., cap. 168 ; and all other Acts relating to the Great
Western Railway Company ; 44 George tho Third, cap.
55, relating to the Oystermouth Railway, or tramroad ;
the Llanelly Railway and Dock Act, 1853, and all other
Acts relating to the Llanelly Railway and Dock Company ;
and the Swansea Harbour Act, 1854, and any other Acts
relating to the Swansea Harbour Trustees and their under-
takings.
And it is also proposed to incorporate, in the said Act,
all or some of the provisions of "The Companies Clauses
s
works,
v,iBnioTi6dnsr3hk:l;:::Lilvdt:iniaiceinttei,idr:isaaena
Clauses
LpowlAct,auoaaukbn3s:doseilB4s,"Clauseshreferencecedo n Clauses
no'
tiAlhd`
eahe
tttceiLooClsnonuBons6Acmod3hlcop.i,tdn:asalnatAiineomssn:CnAldacmzeonlstBAA4s2:
1860,""The Railway Clauses Consolidation Act, 1845,"
f
s
Duplicate plans road sections of the intended railway and
Gazette, and
at
ego rpy f
with a published map having the lines of railway deli-
neated thereon, will be deposited, on or before the
30th November, in the present year, with the Clerk
of the Peace for the county of Glamorgan, at his
Office in Cardiff ; and a copy of so much of the said
plans, sections, and book of reference as relates to each of
the parishes in or through which the said railway and
works will bo made, together with a copy of the said
Gazette. Notice will be deposited, on or before the 30th
day of November, in the present year, with the Parish
Clerk of each such parish, at his residence, and as regards
any extra-parochial place, with the Parish Clerk of some
immediately-adjoining parish, at his residence.
Printed copies of the intended Act will be deposited in
' the Private Bill Office of the House of Commons, on or
before the 23d day of December next.
Dated this sixteenth day of November, 1865.

JAMES KEMPTHORNE,
Neatb, Solicitor.
WILLIAM BELL,
26, Duke-street, Westminster,
Parliamentary Agent.

Messrs. CLENCH, SMITH, and Co. are instructed to re-
ceive APPLICATIONS for SCRIP CERTIFICATES
in the

NAPLES PUBLIC WORKS COMPANY
(Limited).
Incorporated under "The Companies Act, 1862," by which
the Liability of each Shareholder is limited to the
azip.unt of his Shares.
Capital, £1,200,000, rst Issue, £600,000, with power to
increase.
Tn G,OOO Provisional Scrip Certificates to Dearer, of £lOO
each, of which £3 must be paid on Application, and a
further sum of £7 on Allotment ; each of such Scrip Cer-
tificates being divisible into five Share Certificates of
£2O each, upon their being called up and paid thereon
the proportion of 20 per cent. of the nominal value.
Interest on all Calls duly paid by Shareholders during the
first two years of construction, at the rate of 6 per cent.
per annum, or at 7 per cent. if.fully paid up. After the
first two years the rentals, then constituting the Share-
holders' revenue, aro estimated to yield 10 per cent., irre-
spectively of bonuses from sales.
The £lOO Provisional Scrip Certificates may be exchanged,
with the consent of the Company, for Debenture Bonds;
redeemable in five and sewn years, to bear 8 per cent.
interest.

DIRECTORS.
G. A. F. Cavendish Bentinck, Esq., M.P.
Thomas Bradshaw, Esq., Director of tho English Joint-
Stock Bank.

John Brown, Esq. (late Grant, Smith, and Co., Cal-
cutta), Culvers Hadham, Herts.
Captain Windsor Cary Elwes, Guards' Clob, Pall-mall.
Chevalier Annibal Giletta, Naples.
R. E. Barrett Lennard, Esq., Reform Club, Pall-mall.
Angus Mackenzie, Esq., Gresham-house, Old Broad-
street.
Sir Thomas Parkyns, Bart., 9, Gloucester-square.
R. A. Routh, Esq., 36, Cavendish-square.
Major-General Tremenheere, Director London and
South African Bank.

• ARCHITECT.
Win. Barges, Esq., F.R.I.A.
SOLICITORS.
Messrs. Sole, Turners, and Co., Aldermanbury.
BANKERS.
Agra and Masterinan's Bank, Nicholas-lane.
BROK2RS.

Messrs. Partridge and Greenfield, 21, Throginorton-street
Messrs Price and Dev6t, 54, Threadneedle-street.

AUDITORS.
Messrs. Johnstone, Cooper, Wintle, and Evans, Coleman-
street-buildings.
SECRETARY. •
J. F. O'Brien, Esq.
TEMPORARY OFFICES.

No. 1, Royal Exchange-buildings, London.
This Company is formed for the purpose of executing
Public Works in Naples, and will commence operations b;
constructing a Boulevard, upwards of a mile in length and
80 feet wide, connecting the centre of the city, the Royal
Palace, and the Government buildings with the Chiaja, and
Corso Victor Emanuel, the chief carriage drive of the
Neapolitan people. The entire project is shown on the
accompanying plan, where the portion coloured red indi-
cates the first section of the works, and that coloured blue
(for which plans are now being prepared, and arrange-
ments aro in progress with the Municipality) is marked out
to be subsequently proceeded with.
Napleai the third city in Europe, contains about 600,000
inhabitants, and is rapidly increasing in population and
commercial development. It is the port and centre of a
population
radius
numberingoit ea
lye
tnynriliy 2,ies,:olnoto,o
lir
much souls, d
frequentedgwell dwelling
by foreigners from all parts of the world, both for tempo-
rary and permanent residence.
A tender for 'this work was made to the Municipality of
Naples, in accordance with a decree of expropriation, and
having been accepted by them, and approved in due form
by the prefect, on behalf of the Government of Italy, the
requisite compulsory powers are thus secured for the pur-
chase and expropriation of the necessary land in fee-simple
for the intended object, without delay of other legal forma-
lities. The Municipality of Naples upon accepting this
tender required the usual deposit of caution money, which
the concessionaire has accordingly paid.
The Municipality contributes a subsidy of 1,800,0001.,
progressively as the works proceed,
Contractors have undertaken to purchase all the land
necessary and. to complete the construction of the new
thoroughfare in the style of the edifices lately erected on
the new Boulevards of Paris, including the formationof the
roma, paving, and works of drainage, &c. The new houses
aro to be 20 metres high (65 feet), and the total cost for
houses, land, &c., amounts to 620 f. (X2l 165.) per square
metre of the area built upon.
The contractors relying upon the success of the under-
taking have accepted these terms, and they look for their
remuneration out of a Fortion of the surplus profits after
repayment of capital, interests, and all other expenses.
This remuneration has been fixed at one-fourth of the
realised profits ; the remaining three-fourths being divisible
among the Shareholders.

From a report published by the Muncipality of Naples in
1862 on the value of house property there, and from the
increase of value since that date, which is estimated by
experienced residents at upwards of 30 per cent., the revo-
nuo from rentals would be calculated to yield at least 10
per cont. per annum on the cost of construction.

The value of house property In-KAi,;;iii•eported to
vary, according to locality, between twenty to twenty-five
years' purchase, houses in the Via Toledo being 'ralued at
twenty-five years', those in the Chiaja district, and in the
vicinity of the new street, at twenty years' purchase. IN.rhen
lthe v
epar o rheas dt hße
soeu lhe
ovua
sr
eds
ws
iol pl opened
mi n tnodt ha
ne Te
qo
ul eadl oif t so bt e-ahigher price than those in the Toledo. Taking the value,
however, at an average of only twenty years' purchase,
each square metre yielding a minimum rental of sixty-five
francs, or over 10 per cent. on a cost of 620 francs (£24165.),
would attain a selling value of 1,300 francs (£52).
There isalarge and increasing demand for house accom-
modation in Naples, and house property being the favourite
investment of the Neapolitan people, immediately houses
are completed they find ready purchasers. Indeed, in many
cases, contracts for sale can be made in anticipation of
their completion.
After a most careful examination of the present project
and of all attendant circumstances, it is calculated that a
share capital of £600,000, together with the returns from
sales, taking place during the progress of the works, will
be sufficient to work out the entire concession. And' the
calculation, founded upon the above stated rates, exhibits
as a result—within the term of eight years to be occupied
in completing this enterprise—returns, from the disposal
of successive portions of the estate, which promise to fur-
nish at least £5OO in the aggregate of bonuses upon every
subscription of £lO0—exclusively of the entire repayment
of the capital, or, in other words, a capital profit of 500
per cent. ; with' intervening interest at the rates of 5 per
cent., 6 per cent., and 10 per cent. as described.
The Report of Mr. Burges, the Architect, of London,
who was especially deputed to make investigations on the
spot, is referred to in corroboration of the foregoing state-
ments.

A provisional contract has been entered into for the
transfer of this Concession to the Company for the sum of
£50,000 as the consideration for such transfer.

The Company, under their Articles, adopt and confirm
the agreements and contracts, and the Directors are en-
joined to carry out the same, to repay the caution-moneys,
discharge the considerations as agreed, and to pay the
various expenses and commissions incurred to constitute
the Company. The Company indemnify the first contractors
in the usual manner, and the Financial Agency Commis-
sion is fixed not to exceed two per cent., to cover and in-
clude commissions for acceptance upon bank credits
required.
Power is reserved in the Memorandum and Articles of
Association, which can be seen at tho Temporary Offices
of the Company, for the Board to enter into engagements
for other public works deemed promising by the Directors ;
as also to purchase or lease premises for improvements or
use, and to create and issue redeemable Debenture Bonds
and
dDanosd to the
itNot
extent proportion to the progress of the
works, of one-half of the value of works
completed from time to time.
The right is hereby reserved to allottees of Scrip Certi-
ficates to pay up the full nominal value thereof so that they
be convertible into fully paid shares.
Deposits upon which no allotments are made will be re-
turned in full.
Prospectuses and all information can be obtained from
Messrs. Clench, Smith, and Co., 1, Royal Exchange-build-
ings, and copies of the Articles of Association may also be
obtained from the Brokers and Solicitors.

THE NAPLES PUBLIC WORKS COMPANY
(Limited).
Capital, £1,200,000. First issue, £600,000.
FORM OF APPLICATION.
To the Directors of the Naples Public Works Company
(limited), per Messrs. Clench, Smith, and Co., 1, Royal
Exchange-buildings, London.

Having paid to the Bankers of your Company the sum
of £ for your Company's credit, I request you to
allot me Scrip Certificates of £lOO each in the
said Company. And I hereby agree to accept such Scrip
or any less amount, that may be allotted to me, and also to
pay the further sum of £7 for every such Certificate when
allotted to me ; and I agree also, subsequently to accept,
in lieu of such Scrip Certificate of £lOO, five Share Certifi-
cates of £2O each, and to hold or transfer such Scrip or
Share Certificates, subject to the provisions of the Articles
of Association of your said Company, on the Register of
which you may inscribe my name as a Member in case of
allotment.
Name in full
Address
Profession or Condition
Date
*** This portion will be retained by the Banker.

DINNEFORD'S FLUID MAGNESIA.
The medical prole ;pion for Thirty years have approved
of this pure solution of Mantesla as the best remedy for Gout
and stomach disorders of every ktr d ; and as a mild aperient
it is ear ecially adapted for ladies ant children. Preparei
solely by
DINNEFORD ani CO., Chemists, &0.,
172, New Bond-strect, London ;
And sold tbrough-_ut the world by all respe table chemists,
CAUTION —See 'hat " Dinnetord and Co." is on each bottle
and red label ever the cork.

SAILORS' ORPHAN I
0 11011 E, Ilampstead.
PATRON —Th,

GIRLS' SCHOOL and
Ofriceq. 77, Cornhi:l.
le QUEEN.
[TES.

TRUS
Capt. the Uon. Francis Maude,'
R.N

The Rev. Canon champneys
, Thomas Baring, Esq., M.P.
L. Bev
is lest
Es TREASURERS.
This Institutionq.
es I Robert. Hanbury, Esq.
designed to sup;,y a g national
want, viz., an asylum for the orphan daughters ofreat sailors in
the Royal Navy and Merchants service and of Marines.
It clothes, maintains, and educates them for domestic
service; and provides a home free of expense for former
inmates while out of situations, thus shielding them from the
temptations they might otherwise be exposed to.
Tile Committee earnestly APPEAL for CONTRIBU-
TIONS to meet the increasing applications through the
recent storms and loss of life at sea, and: o enable them
eventually to obtain premises more commensurate with the
necessities of this great maritime country, which loses 2,000
sailors annually by casualties alone, without including those
who may perish by war.
Subscriptions thln,:inlly reccivel by the bankerr, Messrs
Barclay, Bevan, and Co., Lombard-street, and by the Secre-
tary, at the Offices, No. 77, CornhilL
R. SWEETTNG, Hon. Sec.
CHARLES NA.SH, Sec.