The Sun.
London, England, 1865-12-02 00:00:00

KINAHAN'S LL WHISKY. DUBLIN
EXHIBITION, 1855.
This celebrated Cld IRISH WHISKY gained the Dublin
Prize Medal.
It is Pure, Mild, Mellow, Delicious, and very Wholesome.
Sold in Bottles, 3s. Bd., at the Retail Houses in London ; by
the Agents in the principal towns in England; or wholesale
at

8, GREAT WINDMILL-STREET, LONDON, W.
Observe the Red Seal, Pink Label, and Cork branded
"Einahan's LL Whisky."

MUTUAL LOAN FUND ASSOCIATION
(Incorporated by Act of Parliament, 1850),
14, ItUSSE LL-STREET, COVENT-GARDEN, LONDON,
ADVANCES MONEY on Personal Security, Bills of Sale,
• Freehold or beneficial Leasehold Property, without inquiry
fee, or any deduction whatever, for periods of one, two, or
three years, repayable weekly, monthly, or quarterly. Bills
discounted. The greatest secrecy observed. Advances also
made towards the Purchase of a House, repayable in 5,10, or
25 Years —Forms free on applica Um, or receipt of a stamped
envelope.

EDWARD HARPER, Secretary.

THE ATLANTIC AND GREAT WESTERN
RAILWAY.

Capital Authorised.
Shares, $30,000,000, in Shares of $5O each.
Mortgage Bonds, Six Millions Sterling, or Thirty Million
Dollars.

Issue of Consolidated Sterling Mortgage Bonds for
£2,771,600,
Ilaving 25 years to run, bearing Interest at Seven per

Cent. per Aniium.
secured on the whole Line of the Atlantic and Great
Western Railway, with Branches, Extensions, and
Equipments. •
£3,228,400 being reserved for Redemption of Mortgage
Bonds already issued on the several divisions.
The Bonds are of £lOO, or 500 dollars, each, with interest,
Payable Quarterly, free of Income Tax, in London,
in sterling, or in New York, in Gold, at the
Company's Offices.
They are payable to bearer, but can be registered at
holder's option.

BOARD OF CONTROL IN LONDON.
Sir S. Morton Peto, Bart., M.P., Chairman.
S. Goodson, Esq., M.P., Chairman Great Easternßailway,
London.

W. Fenton, Esq., Deputy Chairman Great Western
Railway, London.
C. J. Kennard, Esq., Director of Consolidated Bank,
Limited, London.
Lewin B. Mozley, Esq., Barned's Banking Company,
Limited, Liverpool.
Joseph Robinson, Esq., Deputy Chairman Ebbw Vale
Company, Limited, London.

BANKERS.
The Consolidated Bank (Limited), London, Manchester,
and Norwich.
The National Bank, London, and Branches in Ireland.
Messrs. A. Heywood, Sons, and Co., Liverpool.
The Bank of Scotland, Edinburgh, and Branches.

SOLICITORS.
Messrs. Freshfields and Newman, Bank-buildings,
London, E.C.
BROKERS.

Messrs. Joshua Hutchinson and Son, Angel-court,
London, E.C.
Messrs. E. F. Satterthwaite and Co., 38, Throgmorton-
street, London, E.C.
Messrs. Laurence, Son, and Pearce, 7, Angel-court,
London, E.C.

The accompanying Report of J. S. Forbes, Esq., well
known to the British Railway public as Vice-President of
the Dutch-Rhenish Railway, and General Manager of the
London, Chatham, and Dover Railway, contains full in-
formation derived from personal inspection of the position
and prospects of the Atlantic and Great Western Railway,
from which it appears—
The Atlantic and Great Western Railway system cora-
Prises

507 miles now in work, including 17 miles recently
opened.
100 miles in bourse of construction.

Total, 607
of which 526 miles belong to the Company; and 81 miles
are leased for 99 years, at a low rent ($273,072 a year).
Though not yet fully completed, the traffic already equals
that of many of the best American lines.
During the first six months of 1865 the receipts upon
the 322 miles then open were $2,579,737 equal at the
present rate of exchange to $7 in the to £368,533.
since July 490 miles have been opened, and the receipts
have been $2,011,676, equal to £287,382, for three months,
or at the rate of £1,149,528 per annum. Tho subjoined
monthly traffic return shows the steady increase of
traffic.

Total.
Miles Passengers
1 rB6's'. F eight. 1864. , 1865.
• open. Mails, ac.
Dollars. Dollars. j Dollars. Dollars.
January 322 111,751 249,379 1 207,298 361,130
February ; 109,718 277,930 229,041 387,648
Atiarch 7l 113,412 336,403 226,733 449,815
April..... 117,691 288,989 197,267 406,680
May ........ 135,434 324,988 214,679 460,442
June
July
August „ 213,469 525,059 1406.076 1 738,528
Beptember. „ 210,914 466,711 1446,044 677,625
October „ 207,861 512,050 I 396,847 j 719,911

This table includes the traffic of 33 miles of the Oil
Creek Railway, which was constructed by and has
hitherto been worked by the Atlantic and Great Western
lotion ..A.ilway Company, but does not form part of the consoli-
.
The actual result, therefore, is a gross receipt at the
rate of upwards of £1,000,000 a year at the present ex-
cnange, with 100 miles still to open, and a large increase
of traffic only waiting for a further supply of rolling
Stock.

This large traffic is owing to two causes :
1. The Atlantic and Great Western line forms the
central link of tho greatest line of through traffic in the
World; viz., that between the Western States of America
and tho Atlantic. From its shorter distance, and advan-
tage of forming part of an unbroken line of 1,200 miles on
D. uniform six-feet gauge, it must always be the best line
of Communication by which the enormous goods and pas-
senger traffic centring in the Western cities of Cincinnati,
Cleveland, Chicago, and St. Louis, can arrive at New
York and the sea-board.
2. The local traffic is equally enormous, owing to its
traversing the newly-discovered oil districts of Pennsyl-
vania and the great coal-fields of Northern Ohio. Some
idea of the local traffic thus waiting for development may
De formed from the single fact that this oil district now
Yields at the rate of 3,000,000 barrels per annum, for the
c°rlveyance of which as much as 3d. to 4d. per ton per
ladle is willingly paid.
A Consolidation of the several Divisions of the Atlantic
and Great Western Railway under one executive has been
blade, and a mortgage for 30 million dollars, or 6 millions
eterling of bonds has been created, and also a capital of 30
million dollars of shares of 50 dollars each, based on the
'whole property of the Company. The new shares will
Supersede those previously issued, with the exception of
,1,919,000 dollars of Preference Shares pledged as part of
the security for the Certificates of Debenture issued in
ovember, 1864, which will, therefore, remain Preferential
Until those Certificates are paid off, when the whole be-
ecQue ordinary share capital. Provision is made in the
mortgage deed (under which the Consolidated Mortgage
Bonds are issued) for securing the rights of the existing
Mortgage Bonds, and also for their exchange at maturity,
!ll' earlier, by consent of the holder, if authorised by the
Board of Control ; this being completed, the present Con-
solidated Mortgage will become the first mortgage over the
Whole railway, with its branches, extensions, and equip-
ments.

The Consolidated Capital will therefore consist of
660,000,000, half in Shares and half in Mortgage Bonds,
Which provides for the completion of the entire line.
To meet the interest on these Bonds at 7 per cent. in
sterling, after paying all working expenses, it is calculated
by Mr. Forbes that a gross annual receipt of $6,442,000
would be sufficient, which is considerably less than the
annual receipt, and $3,573,000 less than Mr. Forbes's esti-
mate of the annual receipt when the additional 100 miles
are opened, so that the security for the Bonds is ample,
and there is every prospect that, in addition, a high rate
of dividend will be paid on the $30,000,000 of Share
Capital.

The Consolidated Bonds have 25 years to run, with
coupons for interest at 7 per cent. per annum, payable
quarterly, free of income tax, at the Company's Offices, in
140adon or New York, in gold. Interest is payable on 15th
Yaear.lluarY 15th April, 15th July, and 15th October of each
It is
f Proposed to appropriate the total authorised issue
°R.;„.0°O.,1000,000, or £6,000,000 sterling Consolidated Mort-
-76 -blonds, as follows :
to 4. reserve of $16,142,0.00 will be placed with trustees
"'ler', either by conversion or payment when due, the
existiu d•
that g wisional ortgage Bon. ds, being the total amount
fiAd',..uae been issued, or authorised to be issued, as certi-
e uYMessrs. Coleman, Turquand, Youngs, and Co., after
Ile examination of the Company's books and registrars, or
Senial to £3,228,400. This includes all Bonds issued to the
tltlie, and also the Bonds deposited with Trustees for
the
Certificates of Debentures issued in November, 1864,
0141 security of which remains unaffected by the present
11:sangoments
„4 The balance, viz.:—£2,771,600 is offered for public
tj;"Beription, at the price of £BO per £lOO Bond, including
Coupon due January 15, 1866, payable as follows :
10 Per £lOO Bond on application ;
„ on allotment ;
„ on 15th January, 1866, less coupon
2! £1 15s. due on that date ;
on 15th• February, 1866 ;
8112- on 15th March, 1866 ; _
.el_ool4g for the January Coupon, the nett price of each
paßond will be £7B 55., or allowing for discount on pre-
Plents under £7B.
tuSubscribers will have the option of paying in full, under
fauclrut, at the rate of 7 per cent. per annum ; but, in de-
vious of due payment of the respective instalments, all pre-
tiv payments will be liable to forfeiture. The demi-
fop bonds being now ready will be delivered, in exchange
BerP, as soon as it is fully paid up.
say "Ples of the law authorising the consolidation of the
ei•al divisions and branches of the Company, and deeds
trustL'oies or mortgage, of the form of consolidated mortgage
or buo and of other documents relating to the present issue
Senors, are deposited for inspection at the offices of the
tors
41) 1* •at
op 'cations must be addressed either to the Secretary,
Ara, 9ffices of the Company. 5, Westminster Chambers,
coln'una-street, Westminster, S.W. to the Bankers of the
PerrY, of
or to the Brokers, from whom Prospectuses and
3 f Application can be obtained.
London, Dec. 2, 1865.

.A.Tr ---
'ANTIC AND GREAT WESTERN RAILWAY.
FORM OF APPLICATION.
l'oliath ((FORM
be retained by the Bankers.)
.;103.7.7 of Control, Atlantic and Great Western
Railway Company.
liquest that you will allottmhee
rer, Virig paid sum of £ I hereby
...-ort, Consolidated
~,,, bage Bonds of the Atlantic and Great Western Rail-
Aidir; and I hereby agree to accept such Consolidated
to illtrge Bonds, or any less number that may be allotted
aCeOrditig to the terms of the Prospectus.
I am, your obedient servant,
Signature
Address in full
Date i 1111 l 111111111t111111111illialtotio