The Sun.
London, England, 1862-04-08 00:00:00

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OBJECTS OF THE COMPANY.—The object of this
le°a,Pany i'", to carry into effect the valuable and highly the-
concession which has been, granted by the Irks
in Gceeernment for the constructi'jn of Irrigation Works
'0 No'.-thern Italy.
Se
great has been the reputation Ir'-lga' in 'ation and success of works of
• ion ltaly, dial, the l, have been regarded as models
1 scientific construetiou 'oy the engineers appointed by the
government of IrAlift 'co devise and execute the ezteuefre
Plans for the irri'fration of that country.
From hett a:rilist ages the artificial irrigation of land in
sae\l , climes has furnished one of the most sate and profit-
invest'aients of capital. In India the application of this
:I,lystem bras yielded a revenue of from 30 to 100 per cent. on
e cos',; of construction ; in the royal domains of Aranjuez,
in Spain, it has increased the produce of the soil ten-fold;
and it has given to the plains of Lombardy their proverbial
renown, for exhaustless fertility.
The district assigned to tho operations of this Company
comprehends some of the richest potions of the &nem
Vain, extending from the foot of the Alps to the frealtiers of
shLombardy, and justly celebrated as the garden of Europe.
:She Company will immediately proceed tar construct the
eet Irrigation Canal of Northern Italy, in conformity
'with the designs of the celelarated engineer Chevalier Noe,
'who enjoys the highest reputation in Europe for hydraulic
l'erorks, and whose, pls.ns have, after careful examination,
been apoved Government Mr. Abernethy and accepted by the
Italian
_ *
The Main'Oa'aal, 52 miles long, 80 feet wide, and 20 feet
'leer', will crJrlrmence at Chiavasso, ten miles north of Turin,
lass thror,
Lornel. gill the rich districts of the Vercellais and the
/t Lar.,. and terminate at the river Ticino, near Novara.
tours' Will
river
,aeri ve an inexhaustible supply of water from the
P‘J, which has been called the Nile of Italy, on ac-
tcrat of the rich alluvial matter brought down by its cur •
„..e _Alt • It will irrigate more than 300,000 acres, and it is esti-
'l4o.ted that the rental of the proprietors will thereby be in-
ekeased by £840,000 per annum.
In order to obtain the great advantage of uniting under
Cae management all the irrigation works of the district, an
the cession
of the existing canals of the Dora Baltea and
m`tbe Sesia, which will thus become tributary to the Grand
-anal of the Po. The payment for these canals will be
ade at deferred dates, and the amount is included in the
guaranteed capital.
EN
GTJARANT-EES OF THE ITALIAN GOVERN-
AdT.—Ti'.,e Government guarantees a minimum interest
six per tent. per annum on the entire capital to be ex-
tended Ai tended 'Ai the purchase or construction of the canals, the
expenses, and the management and raainte-
aa°_ee of the works of the Company, thus making its shares
1,.,A1e 'and advantageous investment, independently of the
~;,`F,e
sprofits which may be anticipated from such important
"
_ .The Italian Government also guarantees the repayment
?I the capital through the operation of a sinking fund. The
redemption of the shares will take place annually by lot,
having
this great advantage to the shareholders, that, after
tfaving received back their capital in full, they will remain
Participators in all profits exceeding 6 per cent. during the
remaining term of the concession.
The
.provisional concession was signed by the Ministers
of
timo, and the Government has engaged to procure for this
aent of the Legislature the necessary powers T:ihich require the con-
fEXPENDITUBX—The cost of the works will be de-
rayed by the aloa'ai capital of the Company, and by bonds
guassued under CM:: authority of the Government, with interest
rest will be stamped b the G
t!ent, mail the int of 6 per cent, will be paid atovein-
the
4aations.-1 T'zeasury.
toPro visi onal contracts have been made with the sanction
arprobation of the Italian Government for the execu-
b, 8 4 0 4. all the works by experienced contractors, who are
,ftPr•red to deposit ample caution money for the fulfilment
heir engagements.
'I'IPROFITS.—The directors desire to avoid holding out
Ic;gerated estimates of the large profits to be derived from
heir irrigation works, in addition to the guaranteed interest
of 6 per cent. ; but the official returns in their possession,
'which have been prepared with the naost scrupulous accu-
l's.aes', and which may be seen at the offices of the Company,
'motif them in anticipating profits fully equal to those
'which have been ebcained under the most favourable cir-
11,11.18tanees in Italy and other countries. In making these
°aAeulations, Iliere can be no better guide than what has
taken place in our own Eastern Empire, as exhibited in the
following statement :
f, arcJtim.l4-A CANALS, NORTH-WESTERN PROVINCES.--
D`")ver:1111Orlt returns show that the value of the crops saved
orfe year by the water supplied by these canals, whose
;th is 445 miles, was £1,462,800. In 1853 the Court
9f Directors sanctioned an expenditure of £15,276 on the
—astern Jumna Canal, which in one year yielded a clear
'Profit to the government of £9,759, besides enormously in-
creaaing the value of the crops, and thus benefitting the
eUltivators to a far larger amount.
"NoRTIL-WESTEnN PROVINCES.—In these provinces
au expenditure of £557,000 was found sufficient to construct
'works irrigating 1,300,000 acres, and thus obtain a produce
of the annual value of £2,500,000, supporting a population
of 600,000 souls.
, " G'iIEAT GANGES CANAL, NORTH-WESTERN PRO-
Y IN-,. JE, . Colonel Baird Smith, the director of this canal,
11(1.1/r in course of construction, estimates that it will be corn-
Tleted for £2,000,000, and that it will raise the annual value
of the crops it will irrigate to £7,000,000, and the gain to
the cultivators will exceed £3,000,000 per annum.
Extract from Report by Lieut.-Colonel C. B. Young,
qMciating chief engineer, Lower Provinces of Bengal, datea
27th May, 1858:
, " Whatever the results of different calculations may be,
there can be no question, I believe, that canals as irrigation
-Works are remunerative in India, whether the profits be 50
Der cent and upwards, as Col. Cotton rates them, or, accor-
ding to the more moderato estimates of Lieut.-Colonel Baird
ko.tl
. 1 a about 24 per cent., or, according to the experience
°A tile canals in the North-West Provinces, 12 to 16 per
?Vit., it is equally the result in all cases; I believe that
"ley
money e repaxpy
ended richly t
oon both Government and to the people the
them."
The 6 per cont. interest on the shares allotted in England,
together With all dividends out of profits, will be paid half-
eaily, at 25 francs exchange, by the Company's bankers in
4rindon.
,_ The works which the Company has undertaken have
"eel). urgently demanded by the whole population. The
'underta sharess received with the greatest favour in Italy ;
20,00 Q are reserved for that country, leaving 30,000
for allotment in England.
Applications in the annexed form may be made to the
-London Directors at the Company's offices, or to the
Brokers of the Company in London.
C oman
A copy of the concession may be seen at the offices of the
London, April 4, 1862.

POl2lll OP APPLICATION FOR BIIARES.
To the London Directors of the Italian Irrigation Canal
Company.
Gentlemen,—Having paid to your bankers the sum of
, hereby request that you will allot me
ehares of £2O each in the Italian Irrigation Canal Company,
and 1 hereby agree to accept the said shares, or any smaller
number that may be allotted to me, upon the terms of the
statutes' to be approved by the Italian Government, and to
pay the further deposit of £1 per share upon the shares
allotted to me at such time and in such manner as you may
*PPoint.

I am, Gentlemen,
Name in full
Address in full
Date

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