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

METROPOLIS SEWAGE and ESSEX
RECLAMATION CO SIPANY.
Incorporated by Special Act of Parliament.
Capital £2
of ,1 000,
In 21,000 Scrip Certificates £lOO each, to be hereafter
divided into Shares of £lO each.
Deposit on application £2 per Certificate, with further pay-
ment of £8 on allotment, and £lO on 2d October next.
The Subscribers will, in exchange for their Letter of
Allotment and Bankers' Receipt, receive Scrip Certificates,
which, on payment of the sum of £lO, payable on 2d Oct.,
as above, will be exchanged, under the provisions of the
Act of Parliament, for Registered Shares of £lO, and the
Shareholders will be credited in the books of the Company
£2 in respect of each Registered Share.
• DIRECTORS.
The Right Hon. the Lord De Tabley.
G. Sclater-Booth. Esq.,
tees, 1864 and 1865. Member of Sewage Commit-
The Lord Richard H. Browne.
James Pattison Cuirie, Esq.
Maurice Drummond, Esq.
Arbuthnot G. Guthrie, Esq.
Charles J. Lambert, Esq.
Joseph S. Lescher, Esq.
The Hon. Henry W. Petre.
Col. Sir William Russell, Bart., C. 8., M.P., Member of the
MSewage Committee, 1864.
ajor the lion. S. P. Vereker.
J• W. Perry Watlington, Esq., M.P.
ENGINEERS.
G. W. Hemans, Esq., C.E., &c.
J. F. Bateman, Esq., C.E., F.R.S., &c.
. CONSULTING CHEMIST.
Professor J. T. Way, Member of the Royal Commission on
Rivers, and of the late Royal Commission on Sewage.
BANKERS.
Messrs. Glyn, Mill; Currie, and Co.
Messrs. Drummond. •
Messrs. Sparrow, Tufnell, and Co. (Essex).
The Union Bank of Scotland and Branches, 1
The Union Bank of Manchester,
The Bank of Liverpool,
The Birmingham Banking Company,
J. Barber Kennedy and Co. (Dublin),
The Northern Banking Company (Belfast),
SOLICITORS.
Messrs. Baxter, Rose, Norton, and Co.
Messrs. West and King.
BROKERS.
Messrs. P. Cazenove and Co.
Messrs. Se our and Co.
SECRETARY (pro tete. .—Walter A. Michael, Esq.
Offices-60, hreadneedle-street.
The International Financial Society are authorised to
receive Subscriptions for the Share Capital of this Com-
any, which has been incorporated by Special Act of Par-
iament for the purpose of Utilising the Sewage of the
Northern Area of the Metropolis, the Concession of which
has been granted to Messrs. Napier and Hope.
The Concession from the Metropolitan Board of Works
to Messrs. Napier and Hope, as now confirmed by Act of
Parliament, is scheduled to the Act, and both may be in-
spected at the Offices of the Company.
The Concession has been vested in the Company on con-
dition of the payment to Messrs. Napier and Hope, under
the provisions of the Act, of £50,000 in fully paid-up
Shares of the Company and a small contingent per-centage
of the net profits.
thThe Concession recites that in the opinion of the Board
e works proposed by Messrs. Napier and Hope are cal-
lated to effect the three following object; namely :-
1. To divert the Sewage from the Thames.
2. To render it innocuous by its application to growing
crops.
3. To realise the great money value of the manure con-
tained in it.
The first article confers upon Messrs. Napier and Hope
151'"the absolute and exclusive right to and property in the
wage"t
for a period of 54 years from the passing of the
'lOl bat the following provision in reference to the
aPplication of the not profits resulting from the scheme
after the expiration of four years from the passing of the
Act. Previous to the expiration of that period all the
profit results to the Company.
r After deduction of the annual charge for " money bor-
eod," and of the " working and establishment expenses,"
;.net profit shall be applied—
share capi n Paymeut of interest at 5 per cent. per annum on the
tal.
2. In payment in equal moieties to the shareholders and
tee' etropolitan Board of the further profits up to 15 per
cent.
8e,3. In division of profits exceeding 15 per cent, and up to
Per cent. between the shareholders and the Metropolitan
three-fourths
in the proportion of one-fourth to the former, and
.ee-fourths to the latter. .
1, After 25 per cent. the division again to become equal.
";1, he otject of these stipulations is, that while the Metro-
Itnitan Board are virtually to receive half the profit; yet,
'at, in order to give a greater security, and therefore
greater value to the shares, the shareholders are to have a
Preference to the extent of 5 per cent., which is made good
the Metropolitan Board between the points of 15 and 25
Pert cent., at which latter point each party receives 12/ per
l, and the division is then continued equally. Thus,
e share capital of the Company derives the advantage of
the entire capital, approaching three millions sterling, ex-
the by the Boar Sewagee north side of the Thames, for
collection of the at the point of its delivery to
the Company.
At the expiration of 34 years the Board have the
righ
t
4,-ivi.g two years' notice, to require a revision by
arbi-
,
tration of the above apportionment of profits.
The Concession stipulates for the construction of a circu-
lar brick culvert, 9 feet 6 inches in diameter, shown by the
red line on the accompanying map, and running from the
Northern Outfall Sewer to the East Coast of Essex, and
further, for the reclamation of the tract of foreshore and
sand, coloured pink on the map (about 7,000 acres),the in-
tention being to irrigate the lands in the district through
which the culvert passes, and to utilise the surplus upon
the reclaimed land.
A contract has been entered into with Mr. Wm. Webster
(who has constructed more than one-third of the main
drainage work of the metropolis, including the Crossness
Outfall), for the construction of the work mentioned above,
together with the necessary pumping stations, for the sum
of £1,853,448. To this must be added the amount to be paid
to Messrs. Napier and Hope in share; as before mentioned,
the cost of land, engineering, Parliamentary, and legal ex-
penses,. superintendence, and management, together with
lintercet at 5 per cent, per annum on the capital during the
construction of the culvert, estimated at atotal of £546,552;
ht all £2,400,000. The Act authorises the Directors to raise
the amount of £700,000 in debenture; but of this, as above
shown, only £300,000 will in all probability be required.
The Company have the right of taking, without any pay-
hea, during the first four years, as much of the sewage as
y can utilise. From this source an immediate return
may be obtained, so that the return upon capital during
Vide&ru
eoestction should be much in excess of the interest pro-
"
4,fi On Payment on the 2d October next of the £lO per Cer-
cate then due the Certificates of £lOO will be exchanged
for Registered Shares of £lO each.
According to the calculations made the eventual revenue
of the Company is estimated at about £720,000, and the
Working expenses and management at £50,000.
Applications in the annexed form should be left with the
Bankaers, who will not, however,
receive any applications
unles accompanied by a deposit of £2 per certificate on
the number of certificates applied for. In cases where no
allotment is made the deposit will be returned in full, and
should a smaller number than is applied for be alloted the
balance returnable to the applicant will be applied towards
payment of the amount due on allotment. In cases where
an allotment is male the deposit paid on application will be
liable to forfeiture if the balance due on allotment be not paid within the term fixed by the letter of allotment, and
the allotment will be liable to cancellation. Default by sub-
scribers in due payment of the £lO per scrip certificate, pay-
able on 2d October, 1865, will, in like manner, render the
scrip certificates subject to cancellation, and the amount
theretofore paid thereon to forfeiture.
Prospectus and Forms of Aplications may be obtained
f,,,,E'em the Bankers and Brokerp; and at the Offices of the
Company, No. 60, Threadneedle-street, RC., London.
IrETROPOLIS SEWAGE AND ESSEX RECLAMA-
TION COMPANY.
FORM OF APPLICATION FOR SHARES,
To be left with the Banks.

Will also
receive
Subscriptions.

No. --..
To the Directors of the Metropolisßeclamation Company.
Sewage and Essex
the sum of £ ,
being de paid to
certificates, I
l'lg a deposit of £2 per certificate on
equest
liti th' - YoU to allot to me ' Reclamation Com-
-I:ll:4l.l.34aitiociitforpinittirnewi-ailh
_y,e_llnietropolis. Sewage andt
e E
certificates of £lOO each,
i t (Limited)..;
iall respects to
.Prospectus issued bya th 7
h, ,5,-,_
BgT" to accept (subject -11
'certificates,
Socse
or ail:tin, of the said Prospectus), such
and to pay
the 8448 a /lumber that may be allotted to me,
as may be
fixed I) s'ile' ori allotment thereof, at such time
sum of 3:6,4e Letter of Allotment, and to pa_y the further
i'per cortificate on 2d October, 186 a.
-rn, (lentlemen, your obedient servant,
Signature
Nance in full
Address in full
Residence
Date

11Oy
, 1 AthL FREE HOSPITAL, Gray's-inn-road,
w"Y Terntrd-neninuldediate vicinity of the Great Northern Rail-
Pair '' ning'-cross.
Viea.i, n` Her most Gracious Maje,ty the QUEEN.
PreHalitiren—flis floyal fl irliness the Prince of WA LE .1, ii.G
1 iie`nt.-11 is Grace the Duke of BUi CLEUCH. k•G•
b., nevoCornmittee earnestly solicit the ASSISTANCE of the
Co. ta, s 9 .It, as the
premises of this Hospital are capable of
the,,,n:','l4 several hundred more beds, had the Ctanmittee
1 hi,9, !!site i unds to maintain them.
fifth li tiona.ital, louude I in ihe year 1828, the first to Fstab-
the de? Prlne'Pse of bee admission to the sick poor, without
peildenZYtnand difficulty of Governors' orders, insnwheolly
_deco-. It afr.rdrssrupport on voluntary eontribntionas..endsl aqt in
viditien t relict to a large numt:er of In I) u, t ,and,
destitut 1 tins, the average number of atte a n ance of the
3,000 e sick has for a con Iderable period averaged between
and 4,000
Contrib t' weekly.
yerm
,ii •ions are received by the Treasurer, Edward Mu-
"'
811
Niel llalso by Messrs. Contts and Co.;
Drumm° d , )o as- line; Messrs.
Co. ; Ransom
- a C° •C. dCo Herries and
Co. Keeley 3
i. nd . , r.yn an • ;
and Smith Payne, a
,08.co.tt,.Cr.ote, and Co• ; , Co.;ov and C ;
erend, Gur-
Y, and co..`„,,‘‘ Iham!, Deacon, and
Co.. Liverpool 1.31,c.t, at
Co. , Berners-b re ~_ • ,
t e.t • I earned and
and at the ifoßmiai. from 10 ilia 0.
ISTANFOILD iIILTIJ, Secretary.