The Sun.
London, England, 1865-07-26 00:00:00

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
the Russian Iron Works Company.
Hugh H. L. Astley, Esq., Nicholas-lane, Director of the
City Offices Company.
J. Pennington Legh, Esq., Brighton, and Snutsford,
Cheshire.
Clarence A. Collie; Esq., Norfolk-street, Park-lane.

PARIS.

M. Jules Talabot, Boulevard dos Italiens.
M. Le Comte Clary, Rue d'Aumale.
SOLICITORS.

Messrs. Nowbou, Evans, and Co., Nicholas-lane, Lombard-

street.
BANKERS.
The Imperial Bank, Lothbury.
BROKERS.
. _

Messrs. Robins, Barber, aa----Dalfey, Threadneedle-street.

ENGINEER.
Geo. Berkley, Esq., 24, Great George-street, Westminster.

SECRETARY (PRO 'TEM.).
H. P. Hakewill, Esq.
TEMPORARY OFFICES.
4A, Alderman's-walk, New Broad-street.
PROSPECTUS.

The objects of the company are to construct a rail-
Marseilles nine miles in length,,from the "Gld Port" of
to Podestat, to afford increased facilities for the
commerce and manufactures 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
Prance 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 ten years Marseilles has been placed in
direct railway communication with Paris and all parts of
France. Magnificent docks and warehouses have been 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 streetsandpublic 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-
Mated by the fact that, for any extension, rocks 60 feet high
have to bo cleared away to give sites for building; it will
be readily understood that such a locality is no loner suited
for the erection of ordinary dwellings, or factoriesg 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 "31adrague Montredon,"
from thence it will be continued for three miles along the
coast to Podostat, affording sites for the erection of factories,
With access to the sea, and direct railway communication
with the form 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
`ketones would rapidly increase were it not for the heavy
thiwerel-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,
Mediterranean lines. Tho 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
Vieulties of their present position, and where land can
obtained from the Company at a tenth part of the price
11°x' paid for building ground in the town.
In order to form an opinion of the pecuniary results of
t",,e proposed operations of the Company, it will be desir-
able to consider separately the income to be derived from
re railway, and the profit to be realised by the sale of the
land 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-
"eon or docks, notwithstanding which the official statistics
of Government show, that during the last year for
Icrt " Tulob. they are published, 1863, the returns for the " Old
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. 1,514,022 Tons.
!luring 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 It II left, „ 330,876
....,

5,009 Total of vessels. 694,997 Tons.
•But in addition to this the new port "Joliette" received
rand sent off 4159,024 tons of merchandise in 1863, by
')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 lino will pass, and the number of factories, &c.,
already established in that locality, it is calculated that the
?renue will produce an immediate profit revenue equal to
io per cent, on the outlay, which income will be rapidly in-
creased by the erection of houses and factories along the
114 e. There will be seven intermediate stations between
Marseilles and Podestat, one of which will be for the
"Race Course," and the "Public Gardens," and "Chateau
torelly."
Tho 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.
The Company 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 " Madrague do Montredon ;" 140,000 metres
of which will be required for the construction of 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 ound beyondMadrague de Mon-
tredon," through whichthe 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 gum sufficiently low to induce the manufacturers to esta-
blish their works rapidly in the locality, it will produce a
811111. of 15,000,000 f , or £600,000.
The average cash cost to the Company of the land above
referred to is only 54f. per metro, including the houses
already built thereon, and including also upwards of
L 10,000,000 metres of land (about 2,500 acres) on the coast
ine for three miles beyond the! proposed terminus at
fL°dest at, which will thus be acquired by the Company
ife of cost, and which will be made available at some
are time by an extension of the railway and the ft-a-ma-
tion of roads.
An ample supply of water, which is indispensable at Mar-
seilles, both for houses and 'land, can be obtained from the
thisting -works, which have cost the municipality more
an 60,000,000 francs.
1110 additional capital required for the payment of land
vill be raised in debentures to be repaid out of the produce
of the land sales.
`Taus practical bearing of the land question is as follows :
issuming the sale of the land at the low prices named,
h-Q-
-e profits arising therefrom will not only repay the whole
3t of the railway, but in addition there will remain a
‘CI.Y. large surplus for division as bonus amongst the share-
elders.
f The railway concession from the French Government is
°l.,t,be term of 99 years.
eg oe lands of the Company will be freeholds in perpetuity,
Weept the small portion occupied by the Tailway, which
i.'l4l,st necessarily be surrendered with the lino at the ex pi-
"on of the concession.
5,000 of the shares have been subscribed for in
Franco, and will be issued with £8 per share
3,000 shares wilserved for issue as full paid-

up shares ; leaving
12,000 ordinary shares for issue to the public.
20,000
:;he Articles of Association, and also the contract, cn-
toe-„",118, Mid plans may be seen at the offices of the soltct-
t.ro: "-essrs• Newbo, n, tvans, and Co., 28, Nicholas-lane,
fo4lreations for Shares in either of the accompanying
CZ, 'Pay be made to the Secretary at the offices of the
no _ Pany, or to the Bankers, Brokers, and Solicitors ; but
tt2.ll,?plication Will be entertained unless the deposit of £1
'" hare on the number applied for has been duly paid to