The Sun.
London, England, 1865-07-28 00:00:00

MARSEILLES EXTENSION RAILWAY
and LAND COMPANY (Limited).
Incorporated under " The Companies- Act of 1862."
Capital £400,000, in 20,000 Shares of £2O each,
7,000 of which have already been subscribed for in England
and France.
3,000 will be reserved for issue as Paid-up Shares.
Interest at the rate of 6 per cent. per annum is guaran-
teed to be paid by the Contractors on the capital called up
during the construction of the works.
£1 per Share to be paid on Application, and £4 on Allot-
ment.
Future calls not to exceed £5 per Share, nor to be made
at intervals of less than three months.
DIRECTORS.
LONDON.
William Lee, Esq., M.P., Director of the London and
County Bank.
James Childs, Esq., Roehampton, Director of the East
London Railway Company.
Charles E. Newbon, Esq., Director of the General Irri-
gration Company of France.
The Hon. A. C. Hobart, Berkeley-square, Director of
}re Russian Iron Works Company.
Ilugh H. L. Astley, Esq., Nicholas-lane, Director of the
City Offices Company.
J. Pennington Legh, Esq., Brighton, and Kuutsford,
Cheshire.
Clarence A. Collier, Esq., Norfolk-street, Park-lane.
PARIS.
M. Jules Talabot, Boulevard des Italiens.
M. Le Comte Clary, Rue d'Aumale.
SOLICITORS.
llessrs. Newbon, Evans, ann Co., Nicholas-lane, Lombard-
street.
BANKERS.
The Imperial Bank, Lothbury.
BROKERS.
Messrs. Robins, Barber, and Dailey, Threadneedle-street.
ENGINEER.
Geo. Berkley, Esq., 24, Great George-street, Westminster.
SECRETARY (PRO TEN.).
H. P. Hakewill, Esq.
TEMPORARY OFFICES.
4A, Alderman's-walk, New Broad-street.
PROSPECTUS.
The objects of the company are, first, to construct a rail-
Way, about nine miles in length, from the " Old Port" of
Marseilles to Podestat, to afford increased facilities for the
commerce and malrufactures of the town and port ; secondly,
*to acquire land on both sides of the line throughout its
length for building and other purposes, to which great value
Will be given by the construction of the railway.
The reputation of Marseilles as the first maritime city of
France is well known, second only to Paris in population
and wealth; its position and capabilities give it the com-
mand of French commerce in the Mediterranean.
Within the last ton years Marseilles has been placed in
direct -railway communication with Paris and all parts of
Prance. Magnificent docks and warehouses havebeen con-
structed; but-great and rapid as those new works have been
they are still far behind the requirements of its ever-in-
creasing trade.
The-old quarters of the town are being demolished to
make room for handsome streets and public buildings. The
Population thus displaced are driven to the suburbs, more
especially towards the south, where the lands of the Com-
pany are situate, and where a fine valley stretches from the
town to the Mediterranean, with a view of the sea, and
open to the refreshing breezes, which during the summer
afford the only relief from the intense heat of the city.
The enormous value of ground in the town may be esti-
tnated by the fact that, for any extensio rocks 60 fethigh
have to be cleared away to give sites forn, building ; it will
• be readily understood that such a locality is no longer suited
for the erection of ordinary dwellings, or factories and che-
mical works, which latter, for sanitary reasons, will soon
be driven from the city.
The proposed railway, after leaving the port and town
of 300,000 inhabitants, will pass through the southern
suburb, which contains a population of 50,000, and follow
the valley to the sea, at the "Madrague de Montredon,"
from thence it will be continued for three miles along the
coast to Podestat, affording sites for the erection of factories,
with access to the sea, and direct railway communication
Ii the town and port, and with the Paris, Lyons, and
Mediterranean lines, by a junction with the proposed new
branch of the latter to the "Place Castellane."
There are at the present time 460 factories in the town,
employing nearly 10,000 workmen, and the number of
factories would rapidly increase were it not for the heavy
charges to which they are subjected from the increasing
value of the ground occupied, and the want of direct rail-
way connexion with the port and with the Paris,- Lyons,
and Mediterranean lines. The proprietors of these estab-
lishments will gladly avail themselves of -the opportunity
of disposing of their present sites to great advantage, and
removing to a locality combining the facilities of sea and
railway communication, with perfect freedom from all the
difficulties of their present position, and where land can
be obtained from the Company at a tenth part of the price
now paid for building ground in the town.
In order to form an opinion of the pecuniary results of
the proposed operations of the Company, it will be desir-
able to consider separately the income to be derived from
the railway, and the profit to be realised by the sale of the
hind of the Company.
First, with reference to the railway it must be observed,
that the existing lines are connected with the new port
"..!
Joliette" and the docks, but that the Old Port, which is
67 acres in extent, is entirely without railway communica-
tion or-docks, notwithstanding which the official statistics
of the Government show, that during the last year for
which they are published, 1863, the returns for the " Old
Pod" were as follows :
Vessels. • Tons of Merchandise.
4,383 of various nations entered, carrying 950,180
4,303 left, „ 593,842
8,686 Total of vessels. 1,544,022 Tons
During the same period the returns for the new port
" Joliette" were :
Vessels. Tons of Merchandise.
2,609 of various nations entered, carrying 364,121
2,400 „ left, „ 330.876

5,009 Total of vessels. 691,997 Tons.
But in addition to this the new port " Joliette" received
and sent off 1,159,021 tons of merchandise in 1863, by
5,373 steamers, on account of the facilities afforded by the
railways and docks.
It is evident from these returns that a railway to the
Old Port must secure a very large amount of goods traffic,
and from the population of the suburban district through
Which the line will pass, and the number of factories, &c.,
already established in that locality, it is calculated that the
revenue will produce an immediate profit revenue equal to
15 per mit. on the outlay, which income will be rapidly in-
creased by the erection of houses and factories along the
line. There will be seven intermediate stations between
iklarseilles and Podestat, one of which will be for the
"Race Course," and the " Public Gardens," and " Chateau
torelly."
The Company have contracted for the execution of the
Works of the railway from the " Place Castellano" to
Podestat," at the price of £185,000.
Secondly, with reference to the profit to be realised by
the sale of the land of the Company, it may be stated that
all previous speculations in land at Marseilles have been-
successful.

Theoom phy have contracted for the purchase of about
1,200,000 square metres of land (about 300 English acres)
situate on both sides of the proposed railway, between the
town and the " Madmgue de Montredon ;" 140,0.014tetres
of which will be required for the construction or -the line
and stations, leaving 1,060,000 metres to be sold for the
erection of first-class residences.

It has been estimated by competent judges of the value of
building sites in the neighbourhood of Marseilles, that on
the completion of the railway the whole of this land will
be readily sold at the price of at least 20 francs per metre,
at which rate it will produce 21,200,000 francs, or £848,0001
The Company have also contracted for the purchase of a
very large tract of ground beyond the " Madrague de Mon-
tredon," through which the railway will pass to Podestat ;
1,500,000 metres (about 375 acres) of this land, adjoining
both sea and railway, will be at once available as sites for
factories and works of all kinds.
Estimating the selling price of this land at 10f. per metre,
a sum sufficiently low to induce the manufacturers to esta-
blish their works rapidly in the locality, it will produce a
sum of 15,000,000 f, or £600,000.
The average cash cost to the Company of the land above
referred to is only s}f. per metre, including the houses
already built thereon, and including also upwards of
10,000,000 metres of land (about 2,500 acres) on the coast
line for three miles beyond the' proposed terminus at
Podestat, which will thus be acquired by the Company
free of cost, and which will be made available at some
future time by an extension of the railway and the forma-
tion of roads. • _ _ _ _

An ample supply of water' which is indispensable at Mar-
seilles, both for houses and land, can be obtained from the
existing works, which have cost the municipality more
than 60,000,000 francs.
The additional capital required for the payment of land
will be raised *in debentures to be repaid out of the produce
of the land sales.

The practical bearing of the land question is as follows :
—Assuming the sale of the land at the low prices named,
the profits arising therefrom will not only repay the whole
cost• of the railway, but in addition there will remain a
very largo surplus for division as bonus amongst the share-
holders.
The railway concession from the French Government is
for the term of 99 years.
The lands of the Company will be freeholds in perpetuity,
except the small portion occupied by the railway, which
Must necessarily be surrendered with the line at the expi-
ration of the concession.
5,000 of the shares have been subscribed for in
France, and will bo issued with a per share
paid up thereon ;
3,000 shares will be reserved for issue as full paid-
up shares ; leaving.
12,000 ordinary shares for issue to the public.

20,000
The Articles of Association, and also the contract, con-
cessions, and plans, may be seen at the offices of the solici-
ta. 3, Messrs. Newli
E on, Evans, and Co, 28, Nicholas-lane,

Applications for Shares in either of the accompanying
forms may be made to the Secretary at the offices of the
Company, or to the Bankers, Brokers, and Solicitors ; but
no application will be entertained unless the deposit of £1
Per Akan on the number applied for has been duly paid to