The Sun.
London, England, 1865-07-25 00:00:00

The IMPERIAL BANK (Limited) is authorised to receive
Subscriptions for the Shares of the Marseilles Extension
Railway and Land Company, on the terms of the follow-
ing Prospectus.
4ARsEin.LdLLE:D
COMPANY
EXTENSION
(Limited),
Incorporated under " The Companies Act of 1862."
Capital £400,000, in 20.000 Shares of £2O each,
'.OOO of which have already been subscribed for in England
and France.
3,000 will be reserved for issue as Paid-up Shares.
'Merest at the rate of 6 per cent. per annum is guaran-
teed to be paid by the Contractors on the capital called up
during the construction of the works.
£1 Pei Share to be paid on Application, and £4 on Allot-
Ment.
Future calls not to exceed £5 per Share, nor to be made
at intervals of less than three months.
DIRECTORS.
LONDON.
William Lee, Esq., M.P., Director of the London and
County Bank.
James Childs, Esq., Roehampton, Director of the East
London Railway Company.
Charles E. Newbon, Esq., Director of the General Irri7,
era tion Coelogirtrellgo
Tho , Berkeley-square, Director of
the Russian Iron Works Company.
Hugh H. L. Astley, Esq., Nicholas-lane, Director of the
City Offices Company.
J. Pennington Legh, Esq., Brighton, and Knutsford,
Cheshire.
Clarence A. Collier, Esq., Norfolk-street, Park lane.
PARIS.
M. Jules Talabot, Boulevard des Italions.
M. Le Comte Clary, Rue d'Aumale.
SOLICITORS.
Messrs. Newbon,.,,Evans, and Co., Nicholas-lane, Lombard-
street.
BANKERS.
The Imperial Bank, Lothbury.
BROKERS.
Messrs. Robins, Barber, and Dailey, Threadneedle-street.
ENGINEER.
Geo. Berkley, Esq., 24, Great George-street, Westminster.
SECRETARY (PRO TEM.).
H. P. Ila,kewill, Esq.
TEMPORARY OFFICES.
4A, Alderman's-walk, New Broad-street.
PROSPECTUS.
Tho objects of the company are, first, to construct a rail-
;way, about nine miles in length,from the " Old Port" of
alarseilles to Podestat, to afford increased facilities for the
commerce,_ and manufactures of the town andport ; secondly,
r acquire land on both sides of the line throughout its
length for building and other purposes, to which great -value
Will be given by the construction of the railway.
The reputation of Marseilles as the first maritime city of
Franco is well known, second only to Paris in population
and wealth ; its position and capabilities give it the corn-
Mend of French commerce in the Mediterranean.
Within tho last ten years Marseilles has been placed in
direct railway communication with Paris and all parts of
France. Magnificent docks and warehouses have been con-
structed ; but great and rapid as those now works have been
they are still far behind the requirements of its ever-in-
creasing trade.
The old quarters of the town are being demolished to
Make room for handsome streetsandpublic buildings. The
population thus displaced are driven to the suburbs, more
especially towards the south, where the lands of the Com-
pany are situate, and where a flue valley. stretches from the
town to the Mediterranean, with a view of the sea, and
°Pen to the refreshing breezes, which during the summer
afford the only relief from the intense heat of the city.
The enormous value of ground in the town may be esti-
mated by the fact that, for any extension, rocks 60 feethigh
hero to be cleared away to give sites for building ; it will
~,,,
for readily understood that such a locality is no longer.suited
the erection of ordinary dwellings, or factories and che-
tlei,cal works, which latter, for sanitary reasons, will soon
driven from the city.
,TllO proposed railway, after leaving the port and town
o' 800,000 inhabitants, will pass through the southern
fhburb, which contains a population of 50,000, and follow
f valley to the sea, at tho "Madrague de Montredon,"
j°,ll thence it will be continued for three miles along the
.I„,?ia„st to Podostat, affording sites for the erection of factories,
W.'" access to tho sea, and direct railway communication
th the town and port, and with the Paris, 1;3-ens, and
tirediterranean lines by a junction with the proposed new
atich of the latter 'to the " Place Castellano.'
LThere are at the present time 460 factories in the town,
I111).1°Sine• nearly 10,000 workmen, and the number of
el;e`°°lles would rapidly increase were it not for the heavy_
-arges to whiclipthe.7 (bra 'subjected from Me fiteraging
;fitie of the ground occupied, and the want of direct rail-
-s"' connexion with the port and with the Paris, Lyons,
Mediterranean lines. The proprietors of these estab-
raments will gladly avail themselves of the opportunity
'isPosing of their present sites to great advantage, and
ren,loving to a locality combining the facilities of sea and
4.!,,rd,waY communication, with perfect freedom from all the
I,lloculties of their present position, and where land can
"' obtained from the Company at a tenth part of the price
'ion' paid for building ground in the town.
order to form an opinion of tho pecuniary results of
tee
proposed operations of the Company, it will bo desk-
th ° to consider separately the income to ho derived from
150c1 0
the,
and the profit to be realised by the sale of the
of the,Company.
u "mt., with reference to the railway it must be observed,
tt the existing lines aro connected with the new port
G.; °ileac" and the docks, but that the Old Port, which is
acres; in extent, is entirely without railway communica-
",Pn or docks, notwithstanding which tho official statistics
0i the Government show, that during the last year for
Pich they
acreae published, 1863, the returns for the " Old
°lt" wore ollows Vessels. :
Tons of Merchandise.
4,383 of vaiious nations entered, carrying 950,180
4,303 71 left, 593,842
vs 8,686 Total of vessels. 1,544,022 Tons.
V, °ling the same period the returns for the new port
Joliette" were :
Vessels. Tons of Merchandise.
2,609 of various nations entered, carrying 364,121
2,400 Z 30.876
77
77 left,
5,009. Total of vessels. 691,997 Tons.
But in additioh to this the now port "Joliette" received
and sent off 1,159,024 tons of merchandise in 1863, by
e!73 steamers, on account of the facilities afforded by the
railways and docks.
Itt,is evident from these returns that a railway to the
Oldand Port must secure a very largo amount of goods traffic,
from the population of the suburban district through
'beady
the line will pass, and the number of factofies, &c.,
established in that locality, it is calculated that the
Avenue will produce an immediate profit revenue equal to
1 Per cent. on the outlay, which income will bo rapidly in-
_eased b the erection of honses and factories along tho
There will be seven intermediate stations between
Marseilles and Podestat, ono of which will bo for the
"Race Course," and the "Public Gardens," and "Chateau
Borelly."
The Company have contracted for the execution of the
Works of the railway from the " Place Castellano" to
" Podestat," at the price of £185,000.
Secondly, with reference to the profit to be realised by
tho salo of the land of the Company, it may be stated that
all previous speculations in land at Marseilles have been
successful.
The Company have contracted for the purchase of about
1,200,000 square metres of land (about 300 English acres)
situate on both sides of the proposed railway, between the
town and the "Madraguo do Montredon ;" 140,000 metres
of which will be required for the construction of the line
and stations, leaving 1,060,000 metres to be sold for the
erection of first-class residences.
It has been estimated by competent judges of the value of
building sites in the neighbourhood of Marseilles, that on
the completion of the railway the whole of this land will
be readily sold at the price of at least 20 francs per metre,
at which rate it will produce 21,200,000 francs, or £848,000.
The Company have also contracted for the purchase of a
'nry large tract of ground beyond the "Madraguo do lion-
!;r°,don," through which the railway will pass to Podestat ;
;1400,00 metres (about 375 acres) of this land, adjoining
!aoth sea and railway, will be at once available as sites for
factories and works of all kinds.
a Estimating the selling price of this land at 10f. per metre,
bileiT sufficiently low to induce the manufacturers to este-
their works rapidly in the locality, it will produce a
sun; of 15,000,000 f., or £600,000.
reirhe average cash cost to the Company of the land above
already
cerarded to is only sif. per metre, including the houses
10,00 Y built thereon, and including also upwards of
„, 0,000 metres of land (about 2,500 acres) on the coast
Votit for three miles beyond the: proposed terminus at
freq°ostat, which will thus be acquired by the Company
f cost, and which will be made available at some
,L,,ot re time by an extension of the railway and the forma-
n of roads
seenAn a— • '
mine supply of water,which is indispensable at Mar-
exisit°P, both for houses and land, can be obtained from the
thaning works, which have cost the municipality more
680,000,000 francs.
additional capital required for the payment of land
),.11.t. be raised in debentures to be repaid out of the produce
' the land sales.
The
practical bearing of the land question is as follows:
:"-04..ssurning the sale of the land at the low prices named,
`ll Profits arisin therefrom will not only repay the whole eost of • g
N the railway, but in addition there will remain a
L ep.elrarge sugro_h war
p
ylus for division as bonus amongst the share-
concession from the French Government is
rAbe term of 99 years.
e,e' 0 lands of the Company will be freeholds in perpetuity,
al„ePt the small portion occupied by tho railway, which
rat necessarily be surrendered with the line at tho expi-
on of the concession.
5,000 of the shares have been subscribed for in
France, and will be issued with £8 per share
paid up thereon ;
8,000 shares will be reserved for issue as full paid-
up shares ; leaving
12,000 ordinary for • • to the public.
shares issue

20,000
eeBThe Articles of Association, and also the contract. con-
and plans, may be seen at the offices of the solici-
ENewbon, Evans, and Co., 28, Nicholas-lane,
APA • cations for Shares in either Of the accompanying