The Sun.
London, England, 1865-06-17 00:00:00

-
Act, 1865.
CaPital, £1,400,000, in 14,000 Provisional Scrip Certificates
to bearer of £lOO each. £2 to be paid on application,
and £8 on allotment ; and on fully paid-up scrip, £2 on
application, £lB on allotment, and £BO on or before the
23rd September, 1865.
Interest will be paid half-yearly, at the rate of 5 per cent.
JPer
I„,;,,annilm, on calls paid during construction ; and on fully
shares, at 6 per cent. per annum, on the whole
amount of the certificate from the date of allotment.
DIRECTORS.
WILLIAM HAWES, Esq., Director of the Thames Tun-
). tLel Company (Chairman).
n-uawford Acland, Esq., Chairman of the Ceylon Company.
Colonel J. 8. Brownrigg, C. 8., 91, Victoria-street, West-
.). Tninster.
c'llo Sale Barker, Esq., Director of the West Middlesex
virWater Works.
~,111. Walter Cargill, Esq., M.P., Director of the Oriental
j'6B-olc. Corporation.
as. Childs Esq.. Chairman of the Wallingford and Wat-
lin
gton Railway Company
,Chubb, Esq., Director of the North London Railway
JOhn `-'ornpany.
Griffith Frith, Esq., Deputy-Chairman of the Great
nthan Peninsula Railway Company.
'!ter Graham, Esq., Queen's-road, Regent's Park.
gifted Smee, Esq., F.R.S•I Finsbury-circus.
ENGINEERS.
John Hawskhaw, Esq., C.E.
George Robt. Stephenson, Esq., C.E.
J. S. Burke, Esq., C.E.
BANKERS.
The Union Bank of London, and its Branches.

SOLICITORS.
Messrs,Wilson, Bristows, and Carpmael, 1, Copthall-
buildings.
SURVEYOR AND VALUER.
E. N. Clifton, Esq.
BROKERS.
srs J. and A. Scrimgeour, 10, Old Broad-street.
Messrs. Towgood and Strachan, 33, Throgmorton-street.
SECRETARY (PRO TEM.)
C. S. Collard, Esq.
TEMPORARY OFFICES.
4, Skinner's-place, Sise-lane, E.C.

PROSPECTUS.
41.11 e East London Railway will complete the metro-
ze;)" 'tan system of railways, recommended by the joint
1
e64ittee of both Houses of Parliament in the session of
don
hue. as sanctioned by the sot of this session will
C'rence with junctions with the Brighton, South Lon-
,3, South-Eastern, and North Kent Railways, near New-
accommodating in its course the Surrey and Corn-
Tercial Docks the London Docks, and the East of Lon-
all''a4ldwillterminate in the City, at a great terminal
Great on
Eastern,re connect ill be a branch to the
through which ons will be formed
With the the North London and London and North-Western
.
Railways , and the line will pass through and accommodate
tjalrePortant districts of New-cross, Deptford, Rother-
„ --e, Wapping, St. George-in-the-East, Limehouse, Step-
Whitechapel, Bethnal-green, Bishopsgate, and Shore-
ditch, and afford an outlet by the principal railways of the
4-ingdom to the most densely-populated parts of the metro-
Polls.

The terminus in Liverpool-street being in the centre of
the business part of the City, situate close to the Bank and
the exchange, must of necessity command for this line the
largest metropolitan omnibus traffic within and out of
London. It will effect an interchange of traffic with the
)letropolitan Railway, and through that line with the
Great Northern, the Great Western, and the Midland
Railways and it must become practically the City termi-
nus of the London, Brighton, and South Coast Railway.
The extraordinary expansiveness of metropolitan rail-
way The traffic has now been most abundantly demonstrated.
Metropolitan Railway, with only 31 miles opened,
and the heart of the City as yet unreached, carries more
Itr Londonha the Great Eastern with 665 miles ; than
Midland
and South-Western with 513 miles; or the
hn'and with 641 miles opened ; and the receipts from
'-eAssengers per mile per week exceed, by more than 50 por
441,,t, the united receipts per mile per week for passengers
igoods of the seven great railways having termini in
°Von.
bA' he cost the proerty required for the line will be less
than of
that of p
any other metropolitan railway, and
tliAsufficiently provided for by the estimates. The length of
e6.l,,illelincluding.junction branches, is between seven and
nnles, of which the land for the terminal station at
thverpool-street, and for nearly one mile of its course
149hligh the most expensive district, is purchased jointly
le, T, the Great Eastern Railway, the one running at a high
and the other at a low level over the property,
4,„Which arrangement• fully a quarter of a million will be
Tunnel
On the southern side of the river, from the Thames
bet to the junctions of the Southern Railways, the cost
be' mile will be very moderate, whilst the tunnel itself has
th:11 obtained without risk of construction at a little more
rA one-third of its original cost.
ne cost of construction is fixed beyond doubt by
Wagerrients concluded with Messrs. Brassey, Lucas and
nues, for a contract, at prices which will make the total
Z4,of the works considerably less than the amount allowed
,ne Parliamentary estimate.
ban", he revenue to be derived from this line can be esti-
„i`ed with equal certainty.
ordinary receipts of the Metropolitan Railway are
17 ;
a
More than £740 per mile per week from passengers
3 nd the expenses for the half-year ending December
r , 1864, were 41 per cent. the then receipts. This
tilvenue is derived from a line connecting, at one end only,
I,e terminus of one great trunk line with the City, whilst
i,te East London will not only connect three great southern
tiaes with the City, but will also connect them with the
'Them and eastern systems of railways.
444 he large population which this line will accommodate,
tracc, the high through rates which it will receive for the
f,„ 'te derived from the great lines with which it will be
ected, leave no doubt that its receipts per mile from
taa„BBogers alone will exceed those of the Metropolitan
Per 'way. But assuming the East London receipts to be,
i)resTile, not more than those on the Metropolitan in its
nt incomplete and undeveloped state, and calculating
hoe,reeeipts on six miles only of the East London Railway,
lar substantially to confine the calculation to the main
g., to
income from passengers will be £230,880 per
at Tn., to which must be added for merchandise and coal,
k 4 low estimate, £100,000; making a total gross income
4,330,880 ; which, after deduction of 41 per cent. for
41)(3_1'411g expenses, will leave a net income of £195,220, or
TO
14 per cent. on the cost of the line.
or° investors, the rapidity with which this line can be
faVled for traffic, and its security from competition, are
~,!; of great importance. The completion of the central
1;11°4 at
Liverpool-street, and nearly a mile of tho line,
by. Parliament)°o greatly expedited by tho arrangement (confirmed
. with the Great Eastern Company, which is
in lo possession of part of the property, and is proceed-
h the works ; the
oath,tunne is also ready for immediate
leneation to railway uses ; t the line will certainly
Yielding revenue in an unusually short space of time.
to t shareholders of the Thames Tunnel Company agree
of ,atike the principal part of their purchase-money in shares
t Railway Company, and other extensive property
6qUired or
line will be paid for in like manner.
le. en
rn r tsidering,then,—
he position of this line as a connecting link between
„i
'" great lines of railway communication north and
south of the Thames ;
The dense population through which it passes, to
Which, for a few pence and in a few minutes of time,
°PPortunity will be afforded of reaching the healthy
3. districts south of the river ;
The access afforded from the City and the eastern
uistricts of London to Brighton, Ramsgate, Margate,
and the South Coast generally, to the rural districts of
t,-ent, Surrey, and Sussex, and to the Crystal Palace ;
The largo interchange traffic in merchandise and coals
Which must pass over this line between north and
t. Bouth ;
The low cost per mile, as compared with other metro-
politan lines, and the certainty that it will be com-
e. teted with great despatch ; and
The fact, clearly proved by the working of the Metro-
politan Railway, that the traffic on such a line can only
the 1..p3 limited by its carrying powers,—
Directors feel confident that the dividend to be derived
43.1 111:his line will exceed that of any other metropolitan
Twis Y.
e contract will provide for payment of interest half-
ktC,"3' during construction at the rate of five per cent. per
-nrn. on calls, and six per cent. on shares fully paid up.
ca fro
tin
the sharesp preference will be given to appli-
T,O for fully paid- shares.
10. 40 holders of paid-up stock have the privilege of pay-
to °4;111) the balance of £BO per certificate at once, under die-
Yeart °f six per cent. per annum, whic will raise the first
scl 8 interest to upwards of seven percent
isipett registration of the scrip, of which due notice will be
6421, the certificates for £lOO will be divided into five
Li'es of £2O each.
be r ,the event of no allotment being made the deposits will
3t'llrried in full. Should a less number of shares be
ttpaii ecl than are applied for, the deposits will be made
balance towards the payment on allotment, and the
4„"`ce (if any) returned to the applicant.
Pataloations must be made on the form annexed, accom-
11,21d,ZbY payment of a per scrip certificate, to any of the
e.ntioned Banks :
11 union Bank London.
6 National Provincial Bank
{Manchester, and its
Branches.
" N'at* •
ional Bank of Liverpo.ol}
Tii-seroited) Liverpool.
Thee National Provincial Bank Birmingham.
The %de and County Bank Leeds.
B k I eland {Dublin and its Branches
B. of in Ireland.
The .go_ dinburgh and Glas-
'4°3%l Bank of Scotland gow, and its Branches
in Scotland.