The Sun.
London, England, 1865-05-13 00:00:00

SECRETARY.
B. A. Smith, Esq. .
OFFICES.
85, Cannon-street West, E.C.

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MUTUAL LOAN FUND ASSOCIATION
(Incorporated by Act of Parliament, 1850),
ofpl4, RUSSELL-STREET, COVENT-GARDEN,
twoO tsOn_,
DS MONEY on Personal and other Security, in sums
to be repaid by instalments extending over.
Mot; ,or three years. The large C tpital of this Associa-
-1,10 enables it to complete Its transactions without delay.
direciun
bimonquirY or office fees, and strict secrecy observed. Bills
,l•heted at short notice. Form sent free on receipt of a
ed stamped envelope.
ho'un_ Association also lends Money for the purchase of a
terms DY tenant, or for the liquidation of mortgages, on
"-L8 most advantageous to the borrower.
EDWARD HARPER, Secretary.

The NATIONAL BANK is authorised to receive SUB-
SCRIPTIONS for the SHARES of the PERUVIAN
RAILWAYS COMPANY on the terms of the follow-
ing ,
13E,
Iteljru RAILWAYSGovernVIANnTen (Limited)
Guaranteeted
pvian.of Interest COMPANYtet at
With
the
"le of £7 per cent. per annum, as hereinafter set forth,
orta

Total Capital of £3,340,000.
i
Present Is in 66,800 Shares of £25 each.
sue—£l,67 1 per
Share on Application, and £2 per Share on
Allotment.
Zuture Calls of £2los. per Share will be made at intervals
"syteruncPetiornce,
r,
.of not less than three months between each Call.
Con-
tract Companyanntdpiesr annum will be paid during the 'con-
(Lgiumiartaendt)e.ed by the International Con-
DinEarons.
William Latham Bailey, Esq. (Bailey Brothers and Co.),
ItEPOOI.
- al. Carter, Esq. (Joseph Robinson and Co.). Laurence
ountney-hill.
Jolla Ennis, Esq., M.P., Director of the Bank of Ireland.
„
Ring's
S. Pletcher, Esq. (Alexander Fletcher and Co.), 10,
Arms-yard.
S. G. Getty, Esq., M.P. for Belfast, Onslow-square.
W. Lindsa Esq. (Messrs. H. H. Vivian and Co.),
13inningham. Y'
L. lioe, Esq., Bowling Ironworks, Bradford.
Albert Ricardo, Esq., Angel-court, Throgmorton-street,
Director of the National Bank.
c_lt°bert Simpson, Esq. (Frederick Levick and Co.),
uarlotte-row, and Cwm Celyn Ironworks.

BANKERS.
London—The National Bank.
verPool—The National Bank of Liverpool.
Manchester —The Manchester and Liverpool District Bank.
Ireland—The Bank of Ireland, and its Branches.
The Branches of the National Bank.
CONTRACTORS.
The International Contract Company (Limited).
ENGINEERS.

George Parker Bidder, Esq., C.E.
John Mortimer Heppel, Es.q, C.E.
SOLICITORS.
Messrs. Bircham, Dalrymple, Drake, and Co., Parliament-
street.
Messrs. Baxter, Rose, Norton, and Co., Victoria-street.
BROKERS.
London :—Messrs. P. Cazenove and Co., Threadneedle-
street.
lifessrs. Seymour and Co., Throgmorton-street.
Liverpool:—Messrs, Thomas Tinley and Sons.
Manchester :—Messrs. Warner and Page, Stamp Office-
ng
buildis.
:—Edward Fox, Esq., Dame-street.

phis Company is formed for the construction and work-
Ukg Of two lines of railway in Peru—one to connect the
Bea Port of Pisco with the town of Yca ; the other to con-
the city of Arequipa with the port of Mejia.
1 Por the construction of these railways the Government
Peru have granted special concessions, and a guarantee
ille°me, which would appear exorbitant, if it were not
thatl thee statistics of the existing traffic have satisfied the
~rilvlan Government that the railways, when at work,
"`" Yield returns which will not only relieve the Govern:
raent of the charge for their guarantee, but far exceed the
required for that purpose.
twenty-fivelhe Peruvian Government guarantees for the period ofa
iover years—or until the railways have produce
i'er and above the cost and provision for repair, renova-
y.„lsll, and maintenance for the space of two consecutive
an-41A dividends at the rate of 7 per cent. per annuna-
r neome of £233,800 per annum, charged upon the public
,vexus of the State, and further secured by hypotheca-
nni of the uano shipped to European States. The con-
fisions fort he railways contain the usual provision for
elrobursin
g gto the Government(out of any surplus exceed-
°h et 10 per cent. per annum dividend to the shareholders)
their guarantee
sums, if a y
, as may have been paid by them to cover
The concessions of these lines of railway from the Go-
Ment of P
gof the eru is for a period of 99 years from the open-
railways. A sufficient sum will be set apart to
ti n a sinking fund for the redemption of the whole capii-
aft'erasa Premium of £lOO per cent., to be operative yeary
"I° first 20 years of the working of the railways. The
tends Go redeemed to be altogether cancelled, and the clivi-
n_ecymes:shtichho would otherwise be payable on such shares to
Su Lo and form part of the sinking fund. After the first
Price at which shares shall be redeemed and
than £lOO
shall bo regulated at such higher or other price
fund 4100 nt premium as the state of the sinking
shall wedwhe nt.
n it is borne in mind that the Peruvian Govern-
,;t._i•Loark, be
arin 44- per cent. per annum interest, pre-
Zreusiy borrowed on the same security, is rapidly in course thextinction, it will be quite evident that, irrespective. of
PrMiect of a much higher rate of dividend being
reapedsee. from the working of the railways, the nature of the
Come NY should obtain a ready market for the shares of the
any.
...a
The
a prospects of revenue from the working of the rail-
u.'“e37,anutee,e however, so great as to render the Government
seconds (in
other respects so important) a feature of but
The ary consideration.
Ilepublic of Peru has a seaboard of nearly 1,600
ZfaPand an area of about 50,000 square miles. There is,
s, no country in the world in which the elements of
proiedMuercial prosperity are more complete. The mineral
abou,c,ta of all kinds with which its interior provinces
combined with its long stretch of coast, give it an
00 thet unrivalled facility for the development of commerce
obst Most extensive scale. To this develoment one
of acle—and one alone—exists the want of propermeans
try7lnnunication between the ports and the interior coun-
Ql5-
In •
iesof this obstacle the large existing trade of the
proved by its Custom returns • and that under-
are lit 'laving for their object the remedy for this defect,
the 0 "'Y to be remunerative, is shown by the work:mg of
at a alio() and Lima Railway, which now pays dividends
givariate aPproaching £3O per cent. per annum on the on-
cost of construction.
14
eordinary charge for the conveyance of goods per
like c, Pe
attit ru is equal to the charge for the carriage of a
y in Great Britain 14 miles.
this Construction of the railways to be undertaken by
porta Val:ly will establish communication between nt centres of commerce in the interior and the proper
—ap on the sea coast.
t,..,lshe line from Mejia to Arequipa is laid out to serve the
Ctl,o Which at present takes the route from the latter city
of eon Port of Islay, a route which forms the main channel
quilllllcation from the coast to the districts of Are-
13,:dr;aPuno, and Cuzco, and the northern portion of
The
ta,‘, connection with the last mentioned State is impor-
t,,;‘, as the establishment of a system of railways suitable
ratif,,,B °lva wants is now a subject of serious attention. The
f ;TaY now proposed would form one of the main outlets
stance
such system to the coast of the Pacific, a circum-
"llee
the
alone must secure it a considerable additional
traffi,
aq,-"a".` „ most remunerative description.
ranwaY from Pisco to Yca is proposed to be con-
flicted under conditions analogous to those of the Callao
and Lima line already referred to.
YProm the easy character of the line, and a large existing
affio in the district to be traversed, it is evident that the net
revenuemust greatly exceed the guaranteed amount.
The lengths of the proposed lines are as follows :
Mejia to Arequipa
Pisco to Yea .............. 46 miles.

Total .. ............................ 136 miles.
A contract for tho construction of the lines has been
entered into with the International Contract Company
(Limited) according to the estimates of G. P. Bidder, Esq.,
E., and J. M. Heppe], Esq., C.E.
In accordance with the terms of each concession the Com-
pany will be converted into a Soci6t6 Anon 0 the
shares
to bearer, or, if necessary, into two Sociftes Anwoin •
The capital of the Socidt6 Anonyme, or Soc'dtYdisnelno-
nymes,will be £3,310,000--to be issued in shareslandbonds.
.The present Company has been formed as a Limited
Liability Company, the shares in which will be exchange-
able for shares of a like denomination in the Societd
•Anonyme.
Copies of the Articles of Association, of the Contract, and
roeOf the Acts of Concession, with translations, aro open, at
s Vices of the Company, for inspection by parties desi-
become subscribers, so that they may make them-
selves acquainted with all the provisions and conditions of
such concessions.
felted deposit paid on application for shares will be for-
ii,and the allotment cancelled in cases where the fur-
-8r and
on allotment is duly made in accordance with
the terms of the allotment letter.
4PPlications for shares must be made in the annexed
forn, addressed to the Directors ; but no application will
of
be
eon •
„ _ sidered unless accompanied by the receipt of one I
the Bankers of the Company for £l. per share on the num-
ber of shares applied for. This sum will be returned in the
event of the application not being acceded *to.
for Shares
Porms of Application and Prospectuses may
be had at—
The National Bank, London ;
The National Bank of Liverpool ;
r-UThbe e Bank of Ireland, and its several branches, Ireland;
Branches of the National Bank, Ireland ;
At the Offices of the Brokers of the Company, ; and
..-4-t the Offices of the International Contract Company,
°°) Cannon-street, West, London, E.C.

FORM OF APPLICATION FOR SHARES.
Pt-n TT (To bo left with the Bankers.)
--"-IVIAN RAILWAYS COMPANY (LIMITED).
No
10
the Directors of the Peruvian Railways Company
(Limited).

1i Gentlemen,
4 "'big paid to the Bank the sum of
request
, being £1 per Share on Shares, I
Irt
the zou to allot me Shares of £25 each
forio. r eruvian Railways Company (Limited), in con-
agree with the Prospectus issued by you, and I hereby
Aatine,t° become a member of the Company, subject to its
.9. est that
bare ...,,es
mAyssnoacmiaetimaon3arnbed Regulations, and to accept such
tns, or any less number that may be allotted to me, and.
-uPaY the further sum due on allotment thereof, and I re-
placed on the Register of Item-
Der's in respect of the Shares allotted to me.
I am, Gentlemen, your obedient servant,

Name in full
Address in full
Reference
Date