The Sun.
London, England, 1865-12-07 00:00:00

BOARD OF CONTROL IN LONDON.
Sir S. Morton Peto, Bart., M.P., Chairman.
James Goodson, Esq., M.P., Chairman Great Eastern
Railway, London.
•p:W • Fenton, Esq., Deputy Chairman Great Western
-'4uviray, London.
~,
J. Kennard, Esi., Dii•ector of Consolidated Bank,
Limited, London.
,jewin 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 Report of J. S. Forbes, Esq., well known to the
itilitish Railway public as Vice-PreFident of the Dutch-
euenish Railway, and General Manager of the London,
,hatham, and Dover Railway, contains full information
derived from personal inspection of the position and pros-
PCtets of the Atlantic and Great Western Railway, from
Tuiell it appears—
he Atlantic and Great Western Railway system corn-
Prises _

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

otal, 607
°I Which 526 miles belong to the Company; and 81 miles
T. leased for 99 years, at a low rent ($273,072 a year).
eat ofough not yet fully completed, the traffic already equals
many of the best Americam lines.
During the first six months of 1865 the receipts upon
the 322 miles then open were $2,579,737, equal at the
ST:esent rate of exchange to $7 in the £, to £368,533.
have Ince,July 490 miles have been opened, and the receipts
e $2,011,676, equal to £28'7,382, for three months,
or at the rate of £1,149,528 per annum. The subjoined
tionthly traffic return shows the steady increase of
traffic.

Total.
1865. I Miles Passengers Preight.i
..........
open. Mails, &c. 1864. I 1865.
a Dollars. Dollars. Dollars. Dollars.
4,b.isuarY 322 111,751 249,379 207,298 361,130
•J
uruar, 109,718 277,930 229,041 387,648
March 4.
** ** ** '' 113,412 336,403 226,733 449,815
kApiil .. "
117,691 288,989 197,267 406,680
ay
........ 71
135,431. 324,988 1 214,679 460,442
4 , ''''''' "
Jul (, ....... 322 163,733 350,289 1 314,521 514,022
AY ... . ..... 490 162,655 432,868 i 332,098 595,523
R:igllst .... „ 213,469 525,059 i 406.076 738,528
o'Pttlitber. ~ 210,914 466,711 416,044' 677,625
etcher ....
91 207,861 512,050 . 396,817 , 719,911
'------
p. MR 4n1.1,. :-.1...7,... 41.... 4....4n,. ...e -:1,.... -a 41,,, nn

Oebis table includes the traffic of 33 miles of the Oil
lithe Railway, which was constructed by and has
erto been worked by the Atlantic and Great Western
d7tttqway Company, but does not form part of the consoli-
inn.
Ntrrhe actual result, therefore, is a gross receipt at the
th e of
withaluwrds of £1,000,000 a year at the present ex-
of"1?;0. OO miles stilt-to Oen and a largo inureasu
trollc only waiting for a further supply of rolling
4tock

large traffic is owing to two causes
The Atlantic and Great Western line forms the
Zatral link of the greatest line of through traffic in the.
°l.ld, viz that between the Western States of America
t:`, the Atlantic." From its shorter distance, and advan-
'466 of forming part of an unbroken line of 1,200 miles on
ofooiforna six-feet gauge, it must always be the best line
ecdtmunication by which the enormo:us goods. and pas.-
eitger traffic centring in the Western cities of Cincinnati,
yeveland, Chicago, and St. Louis, can arrive at New
ork and the sea-board.
• The local traffic is equally enormous, owing to its
g the newly-discovered oil districts of Pennsyl-
it"; and the
of great coal-fields of Northern Ohio. Some
the local traffic thus waiting for development may
I°,rrned from the single fact that this oil district now
tohMB at the rate of 3,000,000 barrels per annum, for the
hir?Yance of which as much as 3d. to 4d. per ton per
; willingly paid.
tioa ,Consolidation of the several Divisions of the Atlantic
bbri'xreat Western Railway under one executive has been
and a mortgage for 30 million dollars, or 6.
of bonds has been created, and also a capital of 30
ti,b"ll,°3a dollars of shares of 50 dollars each, based on the
-°.O property of the Company. The new shares will
147rsede those previously issued, with the exception of
gin-4,000 dollars'of Preference Shares pledged as part of
Becurity for the Certificates of Debenture issued in
IZerober, 1864, which will, therefore, remain Preferential
to 11 those Certificates are paid off, when the whole be-
ordinau share capital. Provision is made in the
ft,?rtgage deed (under which the Consolidated Mortgage
kollmg are issued) for securing the rights of the existing
or rtgage Bonds, and also for their exchange at maturity,
ziooarlier, by consent of the holder, if authorised by the
114,1'4 of Control ; this being completed, the present Con-
‘vti
orktf,ried Mortgage will become the first mortgage over the
cherailway, with its branches, extensions, and equip-
.
460 e Consolidated Capital will therefore consist of
1rh,,000000, half in Shares and half in Mortgage Bonds,
To provides for the completion of the entire line.
htt;, Meet the interest on these Bonds at 7 per cent. in
11,1,1111 r!
eaoftreber
spathayintgaall working expenses, it is calculated
gross annual receipt of $6,442,000
Z.oalcl be sufficient, which is considerably less than the
IpUal receipt, and $3 573 000 less than Mr. Forbes's esti-
t'`oto of the annual reCeipt, when the additional 100 miles
hm°Pelled, so that the security. for the Bonds is ample,
af',9lere is every prospect that, in addition, a high rate
dividend will be paid on the $30,000,000 of Share
aDital.
coy
Th
he Consolidated Bonds have 25 years to run, with
t 4 ),catla for interest at 7 per cent. per annum, payable
terly, free of income tax, at the Company's Offices, in
4„;`,. on or New Y?rk, in gold. Interest is October on 15th
ye4:ary, 15th April, 15th July, and 15th of each

It i
of 0,8
.oproposed to appropriate the total authorised issue
ga,"0,000,000, or ,000,000 sterling Consolidated Mot
16.113ortds, as follows :
te „, A reserve of $16,142,000 will be placed with trustees
either by conversion or payment when due, the
that lhg divisional Mortgage Bonds, being the total amount
tkft,'llB been issued, or authorised to be issued, as certt-
ntessrs. Coleman Turquand, ungs, and Co., after
thalUmination of the Company's. booksYo and registrars, or
Pitt]; t° .0,228,400. This includes all Bonds. issued to the
theand also the Bonds deposited with ,Trustees for
the Certificates
Ita..4,4eettrity of which remains unaffected by the present
2 lAgents.
44,111),1 balance, viz.:—(2,771,600 is offered for public
‘mte'3-"Ption' at the
t,5 Pon due January 15, 186,
payable. as follows:
10 Per Bond on application
25 on allotment;
on 15th January, 1866, less coupon
£1 15s. due on that date ;
on 15th February, 1866 ;
kiic!o ~
on 15th March, 1866 ;
5101:j.itt for r the January Coupon, the nett price of each
K 914. °ad will be £7B 55., or allowing for discount on pre-
bl3lB under X7B
c'liseei; 'llse_ribers will have the option of paying in full, under
Alt of at the rate of 7 per cent. per annum ; but, in de-
Pa ent of
bethe respective instalments, all pre.-
tfi '5 tn.' -_,Yrnent 'll liable to forfeiture. The defini-
'4B%illus beinggwnol w ready will be delivered, in exchange
Cibi 13' as goon as it is fully paid up.
-Qve of the law authorising the consolidation of the
I.)f t divisi and branches of the Company, and deeds
,``,1.c111,4 or m:4ae of the form of consolidated mortgage
and"f othergdocuments relating to the present issue
°AQillt`ler-, are deposited for inspection at the offices of the
Ap 8.
kVtithei)ollittifts must be addressed either to the Secretary,
e qdri,:es of the Company, 5, Westminster Chambers,
/Ps44)an treet, Westminster, S.W., to the Bankers of the
oro„
nT, or to the Brokers,Prospectuses and
from whom Prospectu
to4cf
31, ADec. Pplication
1865 can be obtained.
° 2, .

N ~

lITIO AND GREAT WESTERN RAILWAY.
To FORM OF APPLICATION.
• the Bo
r(d of
TobecretionlediTlatntheied Bankers.)
Great Western
a
Control,
Company.

If. IT°
re Mon• ''''
0N till P:tid the sum of £ I hereby
11,ertga a- You Will allot me • Consolidated
ge Bond
door; at,d I sof the Atlantic and Great Western. Rail-
-1.6)u,., „ohereby agree to accept such Consolidated
Ilie 15 uds, or any less number that may be allotted
eecora,_•mg to the terms of the Prospectus.
3:nra, your obedient servant,
'Signature
.

Address in full
Date