The Sun.
London, England, 1865-05-26 00:00:00

The CREDIT PONCIER and MOBILIER of ENGLAND
(Limited) are instructed to RECEIVE SUBSCRIP-
IONS for T £1,212,000 A STOCK of HE METROPOLITAN EXTENSION
• RAILWAY- of thi. LONDON. CRATEIA.II, and
DOVER RAILWAY COMPANY, in 80,300 Provisional
Scrip Certificates to Bearer of £4O each, with interest
guaranteed by Sir S. MortonPeto, Bart., Betts and Cramp-
ton, at 6 per cent. per annum on price of Issue, payable on
Amount Paid-up, as from Ist January, 1865, and payment
of such interest will be continued to Ist July, 1867, by
halt:yearly payments, on Ist July and Ist January-in each
Year. The first Six Months' Interest will be raid on Ist
July, 1865.
All Deposit
ent. £1 per Certificate on Application, and £4 on
otm
Price of Issue £2l for each Certificate, equal to £52 10s.
Per £lOO Stock. •
"
Liability limited to amount of Subscription.
The remaining half of this Stock, £1,213,000, will not be
issued for twelve months, and then only as Paid-up Stock,
told at not less a price than £lO per £lOO Snick-advance on
the present price of issue.
The • DrRECTORs.
--9 Right Honourable Lord SONDES, Lees Court,
Faversham, Kent, Chairman.
4he Lord Harris, K.S.I South-street, Grosvenor-square,
r,..DoPuty-Chairman. •
R.
Carden, Royal Exchange-buildings.. _
i,e,°rge Cobb, Esq., Bredgar, •Sittingbourne.
•Loward Edw ds E Victoria-street, London.
William ar
scl"
nto Gladstone, Esq., 87, Old Broad-street, London.
Charles Jr Hilton, Esq.( frhe Pines, Bickley, Kent.
P. HolroYd, Esq., 8, Sussei-square, .11-yde Fork, W.
Wintes. Lake Esq., Newlands, Sittingbourne.-
Eir e• J.'ltich, Bart., Nottingham-place, London.
r Cusack P. Roney, 15, Longhorn -place, London.
Sir John o Maxwell Tylden, Milstead, Sittingbourne.
34te .. SOLICITORS. _
sus. • Freshfields and Newman, 5, Bank-buildings, E.C.
ENGINEERS..
Joseph Cubitt, Esq., C.E., Great George-street.
F. T. Turner, Esq., C.E Parliament-street.
SECRETARY. •
W. E. Johnson, Esq.
GENERAL MANAGER. -
J. S. Forbes, Esq. ' :
PROSPECTUS.
The present objectis to offer for public Subscription the
first half of the A Stock of the Metropolitan Extension
Railwaysl,,, of the London, Chatham, and Dover Company,
' to £1,212,000, which, with the £1,213,000 to be
only as fully paid-up Stock, at not leigif price than
per cent. increase on the present price of issue, or ear-.
.tie2r than twelve months hence, completes the amount of
'425,000, the total amount of that Stock.
Pull details of the lines and their present position are
iven at length in the statement annexed; which, with the
maps attached, show the routes of these Blies and those in
connexion.
In Considering this Stock as an investment, the principal
mints for consideration are,.. first,-the amount of Stock to
tt
etnr, r,
the dividend upon ; secondly, .the probable receipts ;
rulY, the minimu dividend per cent. to yield a fair
,„ on price om f issue.
ee isatietuctaepditaeal foofllothwes,
Metropolitann Extension Railways is
eoentures £1,433,300
Sickentitled to 6 per cent. Preference 825,000
,6,. entitled to 6 percent. Preference after B 1,050,000
.T., 0 Lock (present Issue) Entitled to remainder
r future Issue as full yof Profits £1,212,000 2,425,000
Paid-nP Stock up to 6 p. ct. 1,213,000

£5,733,000

The total mileae is about 14 miles.
has The "ratan on the Metropgolitan (Underground) Railway
467,anlounted since Ist January, 1865, to an average of
e4_,* Per mile per week, which is moreover dailyincreasing,
4:toat present arises frommetropolitsn passengers, a trifling
carrledYnt only of through traffic, and no goods being as yet
this ine.
when it is considered that .the present traffic on the
°Politan Extension Railways in London, Chatham,
1,8.4 hover CompanY is conducted over only two lines of
thit: and with an inadequate amount of rolling stock, also
only it is still unfinished, and that the portion at work has
prrecently been opened, it will be observed that th
__esent receipts afford no reliable data upon which to form
44Te8tinlate of the probable traffic.
Pete° fix the amount at anything like what is felt by urns-
tra nt judges junctions bo te actual result when the n(
.kffic that the j with the Metropolitan (Under
..,1°11L1(1), the Great Northern, the Midland, the Great
the West London Extension, the South Western,
'ld the North Western, will bring on the lines, might be
v'''nsidered an exaggeration by those inexperienced in_the
'wonderful elasticity of metropolitan and suburban traffic.
t is therefore thought better not to estimate the probable
Irfnc higher than the average of the mileage receipts of the
etropolitan (Underground) Railway, as above mentioned,
ar.,N12., £673 per mile per week. This multiplied by the mile-
ar of the Metropolitan Extension Lines of the London,
atham, v Railway Company would give a re-
d. 171 of £489,944 per annum. From_ this sum must be
e eucted-40 per cent. for working charges, which is a liberal
eBB9ftlato. The net results from passengers only may be
tnnated therefore at £293,966 per annum.
The large goods traffic, which these lines will enjoy alike
horn the • from the arrangements made for working the traffic, will
certainly augment the receipts by at least £40,000 net per
annum ; which, in that case, after paying interest on de-
Dentures on the B and C Stocks, would yield a dividend of
5 per cent. on the whole of the . £2,425,000 A Stock (in-
cluding the present issue), which, at • the price it is now
offered at, would be equal to 10 per cent. per annum.
The price at which the A Stock is now offered must be
_considered most advantageous to the investor if only one
4alf of this result isattained; when, however, the increased
l'eceipts would permit a dividend of 5 per cent., the Stock
lanai- certainly rise to par, which would practically be a
l'crt of upwards of 47 per cent. above the price of issue.
4
An,.. is considered that results approaching the above
ete'res will be reached in less than two years, and that a
4.a,uY increase may be further, looked for from that time.
tonbngements have therefore been made with Sir S. Mor-
-1.64 ato, Bart., Betts, and Crampton, to guarantee inte-
ateeas frora Ist January, 1865, until Ist July, 1867, at the
whi 6 Per cent. per annum on the amount paiq up: by
eh latter date it is confidently believed the intruisic
`4l.iltss of the whole system will have developedthenaselves.
of th"; belief entertained as to the augmentation in value
uleC'S 'took. when'it is considered that the lines possess
treiPolitan termini as well as metropolitan and suburban
gtockc, is borne out by the relative prices of the shares and
der the Great. Northern and of the Metropolitan (Un-
'- - thelr ".(1) Railway Company, before they had finished
rrh,rgs, and afierwardsoriz.—
451; eat Northern A Stock was in October, 1853,
AT,CI in the Stock t
po Exchange List at £54 pff £lOO
value.
isiitn nowa worth £145, or 91 per cent. increase,
iro (Underground) Railway was in April,
only,
°r four years ago, quoted in the Stock Ex-
, nge List at equal to £54 per £lOO Stock ; itnow is
t, h £135, or £Bl 'per cent. increase in value; these
nno speak for themselves as to- the prospects of the
Tlaieck now offered far subscription.
of £4O Price of subscription is fixed at £2l per certificate
Payel,,„c43llal to rideros. per £lOO stock, and the periods of
'4, are as
.£ per Certificate on Application.
4
4 71 Allotment.
4 Ist September, 1865.
4 Ist December, 1865.
4 Ist March, 1866.
Ist June, 1866.

11., , Calls not
All 421
duly aidp will render previous payments
44441.0 to forfeiture. When the whole amount of £2!, per
tisa ineatA3
18 Paid, £4O Stock for each certificate will be
4-14;_ferred into the name of the then holder thereof. .
fle enption will be given to all subscribers to PayuPln
amours allotment allotment (entitling them to interest on t.he _ wholes-
venial at f Price of issue from Ist January, 865)andion
tzp,e,_ th.e rate of 6 per cent per annum wine allowedeswould
,:eYr:eanutoot:iennat,talments. These two allowances -fil'it, reduce the price of issue by about 16s. per cent.
tizttetieopfpliitettistiholutesndedtbhyoseapapplpioalicuattsiotonsbteheps7dh?mleobnaelatusncetalon.
A' et allotment will be first considered.
must be made on the Forms annexed, and
no 8.,...413,Med by payment of £1 per share (withoutewrmhiecuh_
tioneTblealition can be considered) to any of the und
,t 0 ..a xers :--
)e8 ,ondon and County Bank.
Thee srs. Glyn, Mills, Currie, and Co. . . _
e Agra and Masterman's Bank (Limited).
Thßars. Smith, Payne and Smiths.
la isrelaLational Bank, London, Dublin,
T 1,,, • and its Branches
13,, , Na.tional Bank of Scotland, Edinburgh, and its
rttes in Scotland.
pai:i'Lla,s, event of no allotment being made, the.
.Deposit
488
are be returned forthwith without deduction ,
.and if
the are allotted than the number of certificates applied for
allotmentill be applied towards the amount payable on
~.,on the number so allotted.
.._ e.roospectuses, with Maps, Plans, sre., may be had of the
411.,
sunendorsed Stockbrokers :
rear Laurence Son, and Pearce, 9, Angel-court, E.C.
, Messrs. jk,*al,d A.: SC . geonr, 10, Old Broad-street. .
'lig; B.C. Dale, and Co., 1, Royal Exchange-build-
Cham,
land, Dm, ;4...,a11.,(1 of the Credit Foncier and Mobilier of Eng-
r.....ondon,
-Mtes, 1.7-"744 I(BAlefroarudilLin,owe, Esq Secretary), at their
London and at the Offices of
I,;',„„,nnson, an sec E-1" retaryVictoria Station, Pimlico, S.W.
and Dover Railway Company (W.
::,2:2,00°01
To ~. PAID up
AsPtoPc:ICATION FOR SHARES TO BE
the Directors of thilelrCrelNdiStTFALMieErNandS.Mobilier of
England (Limited). •
~
Way.. , L.,_
Ili,- - °. we London,
of the Metropolitan Extension Rau-
4-'3r Chatham, and Dover Railway Com-
4a, , Gentlemen, I
beingl,ll,g Paid to the* Bank, the sum of
1 request"'l Scrip Certificate on Per Scrip Certificates,
Scri Certificates of the
4.1)0,, R; You to at me
it:e -°*, in conformity with the Prospectus issued by
theall'old I hereb agree to accept such Certificates, or any
numb
that Ymay be allotted to me,
the •-'1 °f .C 4 per Certificate due on allotment thereof,
and to pay the fauurd-
instalents when due.
I am, Gentlemen, your obedient Servant,
..-

Naine in full
Usual signature
Address in full

Date
Or
•Ray, 1865.
USED by
b'lB PORI' OF APPLICATION to be
fsh',I)LIOANTS desirous of PAYING the BALANCE
To-fisuNt INSTALMENT on ALLOTMENT.
of "'4E, Directors of the Credit Fonder and Molnher
England (Limited).
%2tl,2'°°o A. Stock of thelletropolitan Extension Railways
-e L°llcicaa, Chatham, and Dover Railway Company.
Gentlemen,
bei7:l4`raig paid to the* Bank the sum of £
Scrip Certifi-
eoaftethel riePecluresSterlyPouCteortaffilleaottemeen Scrip Cteurtsifi'isscauteeds
by above stock in conformity with the presPe° 'laul I hereby eto accept sucn Certificates, _ 0
fliCBB oumber that agree to accept èucti Certificates, or
Umbertljat may be allotted to me, and to pay th
usher su,„
1 of £2O perm Certificate due on allotment thereof
sin) Gentlemen, your obedient servant, .
Name in full

Usual Signature
Date Address
'.'" Why, 1865.
* Insert Bankers' Name.
Poi ,
he LON-
ISBII----41----.1 2, , 12,000 A STOCK of the METRO-
Do -,,,....' AN EXTENSION RAILWAY; of t
ANY
„The p`r,„',THAfil, and "OVER RAILWAY c o Bf
for
c_cations
•ItnitQiute "ONCIER and MOBILIER of ENGLAND
14,44 f) 4tebY give notice, that the SITBSt•IPTION
R.
IRROW,
SATtilt,,°r, the above Stock will CU 'SE TO-"
L ndon
4Dmi tY the 2-th 1 nt, E 4 Three o'clock, for o
o'n
ulilltrY Applications.
MONDAY NEXT, the 29th instant,
By order of the Court,
Lot d„,„ ... ALFRED LOWE, Secretary. Jul' 26, 1865, 17 and 18,- Corn=

THE NORTHERN ASSAM TEA COMPANY
(Limited).
Registered under the Companies' Act, 1862, on 22d
October, 1864.
Increase of Capital 'to .C 400,000, by the Issue of 25,000
(B) Shares of £lO each.
£2
Payable on application, and .£1 on the 10th July next.
Where no allotment is made
ull. deposit will be returned%
in fate
Until the Ist July, 1868, the B Shares will be entitled to a
Preferential Dividend (so far as the profits from the
Estates purchased from the Assam Company will admit)
of 10 per cent. per annum. Any excess of profits over
10 per cent. being divisible rateably between the A and
B Shares respectively.
DIRECTORS.
E. W. WTNGROVE, Esq., Chairman (late Mackenzie,
Lyall, and Co, Calcutta), Director of the National Bank of
India.
Percival Battiscombe, Esq., Sevenoaks, Kent.
E. H. Higgs, Esq., Instow, North Devon, late of
Dibrooghur, Assam.
H. Stavely King, Esq., 39, Brook-street, Grosvenor-
square.
J. W. Mitchell, Esq. (Messrs. Mitchell and Aspinall), .8,
Great Tower-street; E.C.
Colonel T. H. Sissmore, Bengal Artillery, Haughton
Lodge, Stockbridge.
J. H. Young, Esq., 8.C.5., late Commissioner Burdwan
Division, Bengal.
CALCUTTA AGENTS.
Messrs. Thomson, Shaw, and Co.
BANKERS. •
The London and County. Bank, Lombard-street.
The Chartered Mercantile Bank of India, London, and
China, Calcutta..
SOLICITORS.
Messrs. Hamber and Harrison, 20, King's Arms-yard, Moor-
gate-street, E.C.
- BROKERS.
Messrs. Lowndes, Surgey, and.Woolley, 7,Finch-lane, E.C.
. SECRETARY. -
Mr. C. H. Fielder.
OFFICES.
35, Ducklersbury, London, E.C.

The Assam Company, the first established for the culti-
vation of tea in India, being desirous of concentrating and
confining their operations to the Southern' Division of
Upper Assam, and thus centralising the management of
their extensive properties, have determined on selling it to
the Northern- Assam Tea Company (Limited), whose
estates are contiguous, the whole of the northern and eas-
tern division of their property in Assam, instead of adopt-
ing the alternative of promoting a new company to carry
them on, -or placing them under separate management.
The present extension of capital, . therefore, is for the
purpose of purchasing direct from the Assam Company the
whole of their outlying estates in the neighbourhood of
the Tingrie and Deehing rivers in Upper Assam, forming
their northern and eastern division, and consisting of the
following gardens :
The Tingrie Mookh, Hoogrie Jaun, Sehung, Naholia,
Cato, Tippum, Hookan Joorie, Towrock.
These comprise some of the fine old indigenous gardens,
respecting which so much has been written, and which
only require opening out to insure their profitable exten-
sion. They are at present producing the finest tea and tea
seed in Assam—the latter in sufficient quantity to enable
the purchasers to plant out any extent of new land with-
out further cost on this head.

The area at present under cultivation is about 1,000
acres, of which over 500 are in full bearing. The Gardens
aro surrounded by lands for which grants have been ob-
tained to the extent of 10,000 acres, all of which is very
superior and suitable for the growth of tea.
The Assam Company's right to the whole of this pro-
perty, together with all buildings, plant, implements, tools,
boats, and live stock, will be handed over to the Northern
Assam Tea Company for the sum of £lOO,OOO, to be paid
as follows :-
Bth June, 1865 £30,000
15th July, „
15th August, „
15th November, „

£lOO,OOO
The crop of tea of this season, and any further grants of
land that the superintendent or agents of the Assam Cont-
pany may have acquired •up to the date of completion of
this sale, together with all cultivation commenced during
the current season, commencing Ist November, 1864, has
also been contracted to be transferred to this Company,
on payment of the sums actually disbursed since that

date:
No commissions or promotion money have been paid or
allowed.
In the allotment of shares a preference will be given to
shareholders in the Northern Assam Tea Company and the
Assam Company.
The Assam Company in 1863 disposed of their outlying
estates in the district of Cachar, for the purchase of which
a company was formed in Calcutta, called "The Central
Cachar Company," the shares of which company are readily
saleable at 25 per cent. premium. Those of the Assam
Company are at above 150 per cent. premium.
The success of tea-growing in Assam is now thoroughly
established. Indian teas are rapidly increasing in favour
and value, owing to their great strength and pungency.
Further, it may be stated, that the recent reduction of the
duty has already caused a considerable advance in prices
here, and the supply is still inadequate to the demand.
In reference to the quality and capabilities of the lands
proposed to be purchased, the following extracts are taken
from the last reports :
The Resident Secretary in India of the Assam Company,
in his report on the property contracted for, says :
"The lands in this part of the province are the finest for
tea cultivation in Assam. The soil is not only the very
best, but the forests contain the most splendid timber, inex-
haustible in extent, which is not the case in the Southern
Division. It needs no foresight to predict that the pro-
perty the Company holds in this part of the country may
be made within the next ten years equal, if not superior, to
that which they will be in possession of at that time in the
Southern Division."

The following are also extracts from a report made to the
Directors of the Assam. Company by their. Chief Superin-
tendent in January last, when he visited the property :
" That the land is first-rate there is no question or doubt,
but to effect such an object (that is, work it to full advan-
tage) it must be divided into a distinct field, and the
management given to the person residing on the spot.
" I have now got the Deputy Commissioner to accept
three applications near Tingrie, for probably an area of
about 7,000 acres, including the land between Tingrie,
Hoogrie Jaun, and Kehung, along the banks of the Tingrie
river ; and this, with what we have already secured in
other quarters between the Deehing and the Tingrie, will
bring the Company's holding up to at leastlo,ooo or 12,000
thear-
tacerrefsor; tahnedreleweeon7uldthreetcotmhemleanuddthise extendingve
ypeeur, in this
e
this quar-
ter
position' likely to be much more healthy
.than any other
' portion of the Northern and Eastern Division.
" The present gardens, if worked up to their capabilities,
would yield 2,000 maunds of tea.
. " The plants in the nurseries, which were put down last
year for the purpose of planting out, have come up, very
well, some of them 18 inches and others 2 feet high.'
The estates have been frequently visited by the Manag-
ing directors of the Northern Assam Tea Company during
the last 13 years, and as lately as March last. He fully
confirms the favourable views above expressed, and is of
opinion that with comparatively small outlay the indi-
genous plants alone can be worked up to an annual yield
of 4,000 to 5,000 chests of tea.
Since the contract for the purchase has been concluded,
the Assam Company have received from their Managing
Director in India, and from a large Shareholder in both
Companies now visiting Assam, valuations of the property
greatly in excess of the price agreed to be paid.
On the above grounds, therefore, the acquisition of these
estates will render the Northern ssam Tea Company one
of the most influential and profitable in India.
Application for shares to be made on the annexed Form
on or before Wednesday, the 31st May, on which date the
list will be closed.
London, 23d May, 1865.

No. APPLICATION FOR B SHARES.
To the Directors of the Northern Assam Tea Company

(Limited).
Gentlemen,—having paid to your bankers the sum of
, being the deposit of 2 per share, y
I request ou
to allot to me B Shames of £lO each in the
above Company, and I hereby agree to accept such Shares,
or any less number that may be allotted to me, to pay the
further sum of £1 per Share on 10th July next, and the
Calls as made, and to sign the Articles of Association of
the Company when required. And I request you to enter
my name on the Register of the Company for the number
allotted.

Name in full
Profession or Description
Residence in full -
Date
N.B. This portion to be retained by Bankers.

THE NORTHERN ASSAM TEA COMPANY
(Limited.
Notice is hereby given, that NO APPLICATIONS for
the B SHARES will be received after WEDNESDAY,
the 31st instant.

By order of the Board,
C. 11. FIELDER, Secretary,
Offices, 35, Bueklersbury, London, E.C.,
May 24th, 1865. - •