The Sun.
London, England, 1862-11-24 00:00:00

ATLANTIC AND GREAT WESTERN
ILWA ISSUE OF TWO 111ILLIONY. FIVE HUNDRED
THOUSAND DOLLARS BONDS.
Secured by a first registered mortgage, constituting a lien
On the income and all corporate rights, privileges, lands,
franchises' plant and property of the Pennsylvania Divi-
sion of the Railway, and guaranteed by the New York
and Ohio Divisions. The interest secured by a trust fund,
and payable at a fixed rate of Exchange in London.
the Bonds are redeemable at par within fifteen years in
New York, or in London at 48. 6d. per dollar, and are
transferable without stamp or endorsement ; 4 per cent. of
the gross amount will be drawn yearly in January, com-
mencing in 1864, to be paid off at par in London. Interest
Coupons arc attached to the Bonds, payable semi-annually,
din April and October, at the Banking-house of Messrs.
wood and Co., London, at the fixed rate of 4s. to the
dollr.
The Bonds will be issued at 70, viz.:—
Bonds of 100 dollars at £l5 15s. Od. with the Coupons for
six months' interest, due Ist April, 1863.
Bonds of 500 dollars at £7B 15s. Od. with the Coupons for
six months' interest, due Ist April, 1863.
Bonds of 1,000 dollars at £157 10s. Od, with the Coupons for
Ala months' interest, due Ist April, 1863.
These Coupons represent £l4 per annum on each Bond
of 1,000 dollars.
TRUSTEES FOR INTEREST AND SINKING FUND IN
LONDON.
and .
Samuel Gurney, Esq , M.P. (Messrs. Overend, Gurney,
Co) • Jno. P. Kennard,
(M
Esc. (. Heywood and Co.
Charles Mozley, Esq. essrs.Messrs I. Barnard and C 0.,)
Liver-
Pool.)

BANKERS LONDON.
Messrs. Heywood,IN
Kennards, and Co.
BROKERS.
Messrs. Joshua Hutchinson
and Son, 15, Angel-court,
Throgmorton-street, E.C. •
Mr. E. F. Satterthwaite, !•iB, Throgmorton-street, E.C.
London Offices :-2, Old Broad street, E.C.
100 miles (from Salamanca to Meadville) are now open.
100 miles further, to Akron with a connexion at Cleveland,
will be ready for traffic during the present month.
The Railway to Titusville and the Oil Regions has just
been opened, and the branch to Franklin and the great
Coal Fields will be opened in December—completing 300
Miles of railway in actual operation.
The Atlantic and Great Western Railway commences at
Salamanca, a station on the New York and Erie Railway,
and passing in a westerly direction through the States of
New York, Pennsylvania s-addi-tZtht forms a connexion
• hthe Cincinnati, '
with Hamilton, and Dayton Railway, at
Dayton, and completes the only uninterrupted line of com-
munication between New York and St. Louis.
The different laws of the States of New York, Pennsyl-
vania, and Ohio, through which this Railway rims, render
ti c and
separate organisation necessary, but practically the Atlan-
Great Western is one line. The several Corpora-
tions have cow olidated their interests, making each jointly
and severally responsible for all.
The receipts of several railways, parts of the same system
as the Atlantic and Great Western, are—
The Erie Railway
The New York Central.. per Mile per Week £65
62
If
The Pennsylvania Central ))
99 If 93
The Lake Shore
52
The Cincinnati, Hamilton and t I 19
48
n,DaYtOll .
........
The Receipts of. the. Atlantic ands Great 'Western are
ree•dY £2O per mile weekly, and will no doubt reach the
Mortg
average rate of the old lines. The interest on all its Ist
tails weekage Bonds will be covered by nett receipts of SS per
weekly
In id
48 provisions for Interest and Sinking Fund, the Directors
r Bankers to pay over to Messrs. Brown Brothers and Co.,
, of New York, to be remitted to the Trustees, in
London, the first nett receipts of the P ilway until a suffi-
cie
tpdlat amount is accumulated for each halt yearly payment;
for the same purose of security for both Dividend and
pHiking Fund, the Directors have also entered into an en-
gereent to pay to Messrs. Brown Brothers and Co.,
i!ect, the subsidy from the Erie Railway on the gross re-
us frond freight and passengers brought from the Atlan-
us and Great Western Railway.
aripbeyDertirgeccitors believe that by the creation. of these Trusts
ging to pay the Coupons in London, at a fixed
latef 4s to the dollar (or £l4 per annum on each Bend of
000 dollars, or £225), they have provided for the Bond-
else
olders a security as perfect as any Railway
,r w, here can ive
The Atlanticgand Great Western Railway has several
than han sources of revenue, any one of which will be more
sufficient to 1 The Erie Railprovideway funds for its bonded debt :
. Bonus.
2. The Petroleum Traffic.
3- The Coal and Cattle Traffic.
4. Breadstuffs and the general Goods and Passenger
Traffic.
The whole authorised issues of Ist Mortgage Bonds of
the Atlantic and Great Western Railway, secured on the
Main line, is £1,687,500
or about £4500 per mile ; of this
£226,000, secured primarily on the New York Division, has
been issued. It is now proposed to place £562,500
(2,600,000 dollars), and no further issue will be made for
two years. The Share Capital is 7,750,000 dollars.
The terms of issue are as follows :-
5 per cent. on application.
10 „ on allotment.
15 ,2 16th January, 1863.
20 ~ 16th February, 1863.
20 „ 16th March, 1863.
,_ Subscribers have the option of paying the instalments
'4, adv-.nce, and will be allowed a discount of 5 per cent.
Per annum on such repayments ; but in default of due pay-
belt of
liabl thee
respectivespec
instalments all previous payments
Wil fate r orre.
icA-fter, .
allotment scrip certificates will be issued to
t° "
bearer. These certificates will be exchanged for bonds
bearer" on payment of the final instalment. Coupons
are attached to the bonds, payable in April and October,
;ati, Messrs. Heywood and Co., Bankers, at the fixed rate
48. Per dollar, in London ; or may be seat to New York
registere'sotion, at the option of the holder. Bonds will be
eoat the London Office if required without charge.
tin Forme
f application, with copies of Reports of the En-
eer-in-chief Maps, &c., may be obtained of the Brokers;
.I.r at the om ,
'4)0400 ces of the Company, No. 2, Old Broad-street,
2'
°l'd liroad-street, London, E.C., October, 1862.