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

PROSPECTUS.

The East London Railway will complete the metro-
politansystem of railways, recommended by the joint
lurnittee of both Houses of Parliament in the session of
1864.
The line as sanctioned by the act of this session will
• clll, quinence with junctions with the Brighton, South Lon-
South-Eastern, and North Kent Railways, near New-
es accommodating in its course the Surrey and Com-
•iiercial Docks, the London Docks, and the East of Lon-
don, and will terminate in the City, at a great terminal
station in Liverpool-street. There will be a branch to the
Great - which connections will be formed
With the the North London and London and North-Western
1, Railways ; and the line will pass through and accommodate,
L•er important districts of New-cross, Deptford, Bother-
-
4,-"au, Wapping, St. George-in-the-East, Limehouse, Step-
11P, Whitechapel, Bethnal-green, Biskopsgate, and Shore-
eel; and afford an outlet by the principal railways of the
'3llgdora to the most densely-populated parts of the metro-
polis.
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
metropolitan 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 traffic has now been most abundantly demonstrated.
The Metropolitan Railway, with only 31 miles opened,
and the heart of the City as yet unreached, carries more
ttsserigers than the Great Eastern with 665 miles ; than
'l5 London and South-Western with 513 miles; or the
11„ idh--,,nd with 641 miles opened ; and the receipts from
'asseilgers per mile per week exceed, by more than 50 per
. cent., the united receipts per mile per week for passengers
tud goods of the seven great railways having termini in
a-Mid.
The cost of the property required for the line will be less
per mile than that of any other metropolitan railway, and
sufficiently provided for by the estimates. The length of
th. y
Vie, including junction branches, is between seven and
11,Fht miles, of which the land for the terminal station at
Cerpool-street, expensive early one mile of its course
With °ugh the most district, is purchased jointly
1 the Great Eastern Railway, the one running at a high
;44 and the other at a low level over the same property,
Which arrangement fully a quarter of a million will be
Bpecl. On the southern side of the river, from the Thames
uunel to the junctions of the Southern Railways, the cost
ter mile will be very moderate, whilst the tunnel itself has
nen obtained without risk of construction at a little more
The
one-third of its original cost.
1,,,,,,he cost of construction is fixed beyond doubt by
'vr,l2,gements concluded with Messrs. Brassey, Lucas and
J,Lues, for a contract, at prices which will make the total
ec's,r, of the works considerably less than the amount allowed
the Parliamentary estimate.
The revenue to be derived from this line can be esti-
-1/14,,e,d with equal certainty.
),,.,••'-ue ordinary receipts of the Metropolitan Railway are
sn"-',w' more than £740 per mile per week from passengers
,p3r ; and the expenses for the half-year ending December
' 1864, were 41 per cent. on the then receipts. This
enue is derived from a line connecting, at one end only,
• the „„terminus of one great trunk line with the City, whilst
e -East London will not only connect three great southern
Ilea with the City, but will also connect them with the
northern and eastern systems of railways.
anThe large population which this line will accommodate,
the high through rates which it will receive for the
raffle derived from the great lines with which it will be
connected, leave no doubt that its receipts per mile from
hsengers alone will exceed those of the Metropolitan
ilWay. But assuming the East London receipts to be,
Per mile, not more than those on the Metropolitan in its
Present incomplete and undeveloped state, and calculating
"°receipts on six miles only of the East London Railway,
far substantially to confine the calculation to the main
7", the income from passengers will be £230,880 per
to ofwhich must be added for merchandise and coal,
of a low estimate, £100,000; making a total gross income
.30,880 ; which, after deduction of 41 per cent. for
aiokog expenses, will leave a net income of £195,220, or
bout 14 per cent. on the cost of the line.
~.
investors, the rapidity with which this line can be
fC,llocl for traffic, and its security from competition, are
acts of great importance. The completion of the central
tion at Liverpool-street, and nearly a mile of the line,
rill be
„ greatly expedited by•the arrangement (confirmed
ra.rliament). with the Great Eastern Company, which is
br°' possession of part of the property, and is proceed-
' g with the works ; the tunnel is also ready for immediate
I,l3ilication to railway uses ; so that the line will certainly
0 fielding revenue in an unusually short space of time.
te t}ie shareholders of the Thames Tunnel Company agree
of take the principal part of theirurch-mone in shares
ibe. Railway C paompany, and other extensive property
luired for the line will be paid for in like manner.
Considering, then,—
The position of this line as a connecting link between
,
'l'B 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,
opportunity will be afforded of reaching the healthy
8 oistricts south of the river;
' The access afforded from the City and the eastern
districts of London to Brighton, Ramsgate, Margate,
and the South Coast generally, to the rural districts of
e 'twat, Surrey, and Sussex, and to the Crystal Palace ;
The large interchange traffic in merchandise and coals
Which must pass over this line between north and
t south
. • "• The low cost per mile, as compared with other metro-
politan lines, and the certainty that it will be com-
pleted 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
th
.„u? limited by its carrying powers,—
. ir:liirectors feel confident that the dividend to be derived
• 331 this line will exceed that of any other metropolitan
14,1,1111, e contract will provide for payment of interest half-
eZ,ll•37 during construction at the rate of fivcrper cent. per
on calls, and six per cent. on shares fully paid up.
allotting the shares preference will be given to appli-
for aid-u
fully p shares.
he holders of paid-up p stock have the privilege of pay-
c„; up the balance of £BO per certificate at once, under dm-
t of six per cent. per annum, which will raise the first
interest to upwards of seven per cent.
ti,;4l registration of the scrip, of which due notice will be
• ehaen, the certificates for £lOO will be divided into five
41bee of £2O each.
be 1, the event of no allotment being made the deposits will
ancoeLurned in full. Should a less number of shares be
ap :',ted than are applied for, the deposits will be made
betliable towards the payment on allotment, and the
,kilee (if any) returned to the applicant.
13,,,,,Pplications must be made on the form annexed, accom-
124Ted by payment of £2 per scrip certificate, to any of the
The"mi Banks :
tinion Bank London.
National The rovincia an
P • •lB k {Manchester, and its
The Branches.
National Bank of Liverpool} Liverpool.
it,,l4ll3aited)
T'ile National •
Provincial Bank
e Leeds and County Bank Leeds.
The
Provincial Bank of Ireland
1 in Ireland.
' The b dinburgh and Glas-
',oyal Bank of Scotland gow, and its Branches
in Scotland.

PORM OF APPLICATION FOR ORDINARY
11"04, SHARES.
the Directors of the East London Railway Company.
ptiessrs. Chadwick, Adamson, M'Kenna, and Co.,
heels
,—HAg Agents, 27, Great George-street, West-
r,,,t4inater.
Dazt4ttlerne.naving paid to the Bankers of the Corn-
Lae sum of £ to your credit, I request you to
14e
otd„._ Scrip Certificates of £lOO each in the East
crip:-'l4 Railway Company ; and I agree to accept such
to
pa..:l?: any less amount that may be allotted to me, and
klloti;i:tiate further sum of £8 per certificate due upon such

Name in full
Address
Profession or Trade
Folt Date
4"' OP APPLICATION FOR FULLY PAID-UP
SHARES.

To 01
P el);

r —.sectors of the East London'Railway Company.
el,v-tessrs. Chadwick Adamson, APKenna, and Co.,
rlillancial A t .27 Great George-street, West-
llinster gen s'
ntl o
pan "Inn —Having paid to the Bankers of the Com-
4110t
3 ',,tl„ 1e sun; of to your credit, I request you to
Scrip Certificates of 1100 each in the East
scrip 'n Itaihvay Company ; and I agree to accept such
t,c)Pa':+lsanY less amount that may be allotted to me, and
48(,"'e further' sum of £lB per certificate on allotment,
°1:1 or before the 23d September, 1865.
Name in full
Address
Profession or Trade
of thes Pe Date
otuses and Forms of Application may be obtained
of ankers the Brokers, at the Offices of the Company,
Chadwick,
Adamson, Al'lienna and Co.,
941 a-gents, 27, Gret , Westminster,
"'MU all further infora
mation may be obtained.