The Sun.
London, England, 1865-09-18 00:00:00

A.D. 1720.

ROYAL EXCHANGE ASSURANCE
CORPORATION
(Established by Charter of his Majesty George the First)
FOR SEA, FIRE, LIFE, AND ANNUITIES.
Offices, Royal Exchange, London.
Branch Office, 29, Pall-mall, S.W.
OCTAVIUS EPIGRAM, Esq., Governor.
JAMES STEWART HODGSON, Esq., Sub-Governor.
_ _

CHARLES JOHN MANNING, Esq., Deputy-Governor.
DIRECTORS.
Wm. Tetlow Hibbert, Esq.'
Wiimot Holland, Esq.
Nevile Lubbock, Esq.
Geo. F. ➢ialcolmson, Esq.
Henry Nelson. Esq.
Lord Josceline W. Percy.
Charles Robinson, Esq.
Samuel Leo Schuster, Esq.
Eric Carrington Smith, Esq.
Joseph Somes, Esq., M.P.
William Wallace, Esq.
Chas. Baring Young, Esq.

fTenry Bainbridge, Esq.
Robert Barclay, Esq.
John Garratt Cattlei, Esq.
Mark Currie Close, Esq.
Edward James Daniell, Esq.
William Davidson, Esq.
Thomas Dent, Esq.
Alexander Druce, Esq.
Fredk. Joe. Edlmann, Esq.
Charles H. Goschen, Es q.
Riveredale W. Grenfell, Esq.
Rohr. Amadeus Heath, Dig.

Medical Referee, SAsfuEL SOLLY, Eeq., F.R.S.
NOTICE. - The usual fifteen days allowed for payment of
FIRE PREMIUMS falling due at Michaelmas will expire
on 14th October.

FIRE and LIFE ASSURANCES may be effected with this
Corporation on advantageous terms.
The Duty on Fire Assurances has been reduced to the uni-
form rate of Is. 6d. per cent. per annum.
No charge is made by this Corporation for Fire Policy or
Stamp, however small the Assurance may be.

FARMING-STOCK.—No extra charge is made for the use
of Steam Thrashing Machines.
The Reversionary Bonus on British LIFE POLICIES has
averaged nearly 2 per cent. per annum on the sum assured.
Equivalent reductions have been made in the Premiums
payable by persons who preferred that form of Bonus.
The divisions of Profit take place every Five years.
Any sum not exceeding £15,000 may be insured on one
Life.

This Corporation affords to the Assured—
Liberal participation in Profitii—with the guarantee of
a large Invested Capital Stock, and exemption, under
Royal Charter, from the liabilities of partnership.
The advantages of modern practice,—with the security
of an Office whose resources have been tested by the ex-
perience of nearly a CENTURY AND A HALF.
ROvAL EXCHANGE, LONDON.
ROBT. P. STEELE, Secretary.

BAY OF HAVANA AND MATANZAS
RAILROAD (in the Island of Cuba).
Loan of £400,000 sterling, in Bonds of £lOO, bearing in-
terest at 7 per cent. per annum, payable half-yearly in
London.

AGENTS.

In London—Messrs. J. Henry Schroder and Co.
In Havana—The Bank of Commerce, Francis Fesser,
Esq., Manager.
--

This Company was formed in 1857, obtained its conces-
sion the same year, and in 1861 the main road was com-
pleted from Regla, in the Bay of Havana, to Matanzas, a
distance of 54 miles.

Since then branch lines of considerable value have been
constructed.

The cost of construction to this date is £1,056,000; of
This sum £448,000 was raised upon shares subscribed in the
island.

£250,000 was raised in London, in 1861. by a first mort-
gage loan, bearing 7 per cent. interest, and repayable by
the operation of a sinking of £25,000 per annum, com-
mencing 1867, which will redeem the entire loan in 1876.
£lOO,OOO was similarly raised in 1863 for the construction
of two branch roads, secured by a second mortgage on the
road, and guaranteed by the Bank of Commerce, repayable
by the operation of a sinking fund of £4,000 per annum,
commencing in 1873. _

A considerable portion of the remainder of the capital
has been supplied from time to time out of the earnings 01
the road.

The results of the undertaking have been very satisfac-
tory, and show the following returns :-
1869 Gross receipts £100,700
1863
If 71
1861
And 1865 gross receipts from January to June £93,000
Against same period, 1864 82,000
The Bay of Havana and Matanzas Railroad Company
has now effected the purchase of the Coliseo Railroad,
running from Matanzas to Bemba, a distance of 35 miles, a
Very valuable road, and of immense importance to the 'Ray
of Havana and Matanzas Company, inasmuch as it is in
direct junction with that road at Matanzas, traversing a
district rich in sugar produce ; and being connected at
Bemba with the Cardenas and Jucaro Railroad, becomes a
section of the central road of the island, which will very
shortly reach Villa Clara by the completion of the Car-
denas and Jucaro Railroad.
The returns of the traffic of the Coliseo Railroad aro as
follows :

1860 Gross receipts £49,100
1862 l/ 71
1864 9/ 1,
And the returns of 1865, from Jan. to 20th May—£49,ooo
Against 1864, same time 45,000
To complete this purchase, the Bay of Havana and
Matanzas Company desire to raise a loan in London of
£400,000, bearing interest at 7 per cent. per annum, pay-
able half-yearly in London.
As security for this loan, the Bay of Havana and Matan-
zas Railroad Company will effect a first mortgage on the
Coliseo Railroad, its rolling stock, appurtenances, and all
Properties ; and also a mortgage on the Bay of Havana and
Matanzas Railroad and its branches, subject only to the
existing mortgages of £350,000, of which the first mort-
gage of £250,000 will be paid off entirely in 1876, by the
operation of the sinking fund which commences in 1867.
The property thus mortgaged is as follows :
The Coliseo Railroad to be purchased out of the proceeds
of this loan, producing a gross revenue in 1864 of £71,200.
Tho Bay of Havana and Matanzas Railroad and its
branches, costing £1,056,000, producing a gross revenue in
1864 of £143,000 (subject only to the above-mentioned
mortgages).
. _ _

It «ill lie noticed that the revenue of the Bay of Havana,
and Matanzas, as well as that of the Coliseo Railroad, has
for some years been steadily increasing at the rate of 20 per
cent. per annum, and it is beyond a doubt that the amalga-
mation of the two roads, by a natural increase of traffic and
a large saving of expenditure in the administration, will
produce a far larger revenue, and may be fairly estimated
for the coming year at £250,000 gross, or fully £lOO,OOO
net revenue.

For the repayment of this loan a sinking fund is ar-
ranged for, whereby £20,000 is to be paid off annually,
either by tho purchase of bonds or public drawing, its ope-
ration to commence in 1877, by which time the first mort-
gage loan of £250,000 will be entirely redeemed.
The Bonds will be issued in sums of £lOO, and bear in-
terest coupons, payable 10th June and 10th December, at
the counting-house of Messrs. J. Henry Schroder and Co.
The first coupon will be payable 10th June next.
The subscription price is 90 per cent., payable as fol-
lows :
£5 on application.
25 on allotment.
30 on 10th November.
.f.. 30 Os
Less 0 14s interest at 7 per cent. per annum upon
previous instalments.
29 Gs on 10th December.
Interest at 5 por cent. per annum will be allowed for pre-
payment of any of the instalments.
Application for an allotment to be made to
Messrs. J. HENRY SCFIRODER and Co.,
145, Leadenhall-street ;

or to the Brokers—
' Messrs. LAURENCE, SON, and PEARCE.
No. 7, Angel-court, Throgmorton-street.
145, Leadenhall-street, London, Sept. 7, 1865.

STARCH MANUFACTURERS
TO H. R. H. THE PRINCESS OF WALES.
GLENFIELD PATENT STARCH,
Used in the Royal Laundry,

AND AWARDED TIIE PRIZE MEDAL, 1862.
Sold by all Grocers, Chandlers, &c. &c.
WOTHERSPOON and CO., Glasgow and London.

TEETH, 2s. 6d. each.—ESKELL and SONS'
improvements in the construction of ARTIFICIAL
T I,ETII enable them to make and fit in from One to a Set,
in a few hours, without springs or wires, and without ex-
tractions, upon the principle of self-adhesion, painless and
perfect. Guaranteed, or no fee accepted. Sets, Li ; stop-
pings, 2s. 6d.; extractions, Is. ; and the same moderate fixed
prices throughout. Punctuality in all appointnaents, and
constant daily attendance from Nine to Eight o'clock. Their
Treatise on the Teeth, with printed terms, and all consulta-
tions free, on application to ESKELL and SONS, 13, Tich-
borne-street, Quadrant. Note the address.

DINNEFORD'S FLUID MAGNESIA.
The medical profe Ision for Thirty years have approved
of this pure solution of Ma atesia as the best remedy for Gout
and stomach disorders of every kit d ; and as a mild aperient
it is esrecially adapted for ladies and children. Prepared
solely by
DINNEFORD and CO., Chemists, &C.,
172, New Bond-street, London ;
And sold throughout the world by all respectable chemists,
CAUTION.—See that " Dinneford and Co." is on each bottle
and red label over the cork.