The Sun.
London, England, 1862-04-07 00:00:00

TRR ITALIAN IRRIGATION CANAL
comrANy. socate Aronyme with Limited Liability
And ,i3nares to Bearer.
Share capital 25,000,000 f. (t 1,000,000).
DiviciA into 50,000 shares of 500 f, (120) each.
tieorwit on ar,lication £1 per share, and .t 1 on allotment.
Tile Italian Government guarantees a minimum interest
of six per cent. on the capital, and also a sinking fund to
provide fos its redemption.
DIREtTORS IN ITALY.
The Msrquis de Cavan', Member of tbe Chttniber of Depu-
tie3.
The Count Oldofredi, Senator (formerly Governor of
Bologna).
Farina, Regent of the Bank of Milan.
"0 -Vincenzi (formerly Minister of Public Works at
Naples).
11. G. De Fernex, Banker, Turin
Laurent, Banker, Parma.
DIRECTORS IN ENGLAND.
G. G. Macpherson, Esq. Chairman of the Agra and United
Service Bank.
Lestock R. Reid, Esq., Director of the Oriental. Bank Cor-
poration.
James Dickson, Esq. (Lennox, Nephew, and Co.), 16, Old
Broad-street.
Lieut.-Colonel W. Campbell Onslow, Director of the
Madras Irrigation and Canal Company.
Wm. Walter Cargill,-Esq., Director of the Eastern Bengal
Railway Company.
C. G. Manse', Esq., Director of the Agra and United Ser-
vice Bank.
P. D. Hadow, Esq., Deputy-Chairman of the Peninsular
and Oriental Steam Navigation Company.
F. Surtees, Esq., Chalcott House, Kingston, Surrey.
J. P. Brown West head, Esq., M.P,, Deputy-Chairman of
the London and North-Western Railway Company.
BANKERS IN LONDON—Messrs. Masterton, Peters, and
Co., 35, Nicholas-lane.
BANKERS IN ITALY—Messrs. Charles De Fersex and Co.,
Turin.
SOLICITORS—Messrs. Rixon and Son, 38, Cannon-street.
BitoxEns—Messrs. Foster and Braithwaite, 68, Old
Broad-street.
JOINT ENGINEERS.
Monsr. Chas. Nod, Turin.
J. Abernethy, Esq., M.1.C.E., London.
Temporary Offices, 16, Gresham-house, Old Broad-street.
SECRETARY, pro tem.—Leicester Bayly,

c OBJECTS OF THE COMPANY.—The object of this
,„"113any is to carry into effect the valuable and highly re-
il"...unerative concession which has beed granted by the Ita •
pa Government for the construction of Irrigation Works
14 northern Italy.
So
b.., great has been the reputation and success of works of
--0-it.gation in Italy, that they have been regarded as models
0 'LIMO° construction by the engineers appointed by tho
Diana of India to devise and execute the extensive
for the irrigation of that country.
From the earliest ages the artificial irrigation of land in
rra climates has furnished one of the most safe and
ableprofit-
vestmentsin of capital. In India the application of this
rem has yielded a revenue of from 30 to 100 per cent. on
e cost of construction ; in the royal domains of Aranjuez,
dPain, it has increased the produce of the soil ten-fold;
,ILa it has given to the plains of Lombardy their proverbial
retown for exhaustless fertility.
The district assigned to the operations of this Company
"zprehends some of the richest portions of the famous
tain, extending from the foot of the Alps to the frontiers of
nabardy, and justly celebrated as the garden of Europe.
!,,-11c Company will immediately proceed to construct the
''''eat Irrigation Canal of Northern Italy, in conformity
vith the designs of the celebrated engineer Chevalier Noe,
mho enjoys the highest reputation in Europe for hydraulic
INorks, and whose plans have, after careful examination,
?eon approved of by Mr. Abernethy and accepted by the
Italian Government.
The Main Canal, 52 miles long. 80 feet wide, and 20 feet
deep, will commence at Chiavasso, ten miles north of Turin,
IL:8 through the rich districts of the Vercellais and the
recline, and terminate at the river Ticino, near Novara.
' will derive an inexhaustible supply of water from the
'"N'er Po, which has been called the Nile of Italy, on ac-
f4tult of the rich alluvial matter brought down by its cur -
:Cut at will irrigate more than 300,000 acres, and it is esti-
ated that the rental of the proprietors will thereby be in-
'teased by £840,000 per annum.
..ku order to obtain the great advantage of uniting under
44e Management all the irrigation works of the district, an
thrtaugement has been concluded with the Government for
the cession of the existing canals of the Dora Baltea and
• Sesia, which will thus become tributary to the Grand
Made
of the Po. The payment for these canals will be
-gaele at deferred dates, and the amount is included in the
A• ranteed capital.
11'LIARANTEES OF THE ITALIAN GOVERN-
ENT.—Thete., Government guarantees a minimum interest
:ix., per cent. per annum on the entire capital to be ex-
ira_.`ied in the purchase or construction of the canals! the
• u'amar7 expenses, and the management and mainte-
ce of the works of the Company, thus making its shares
,
vaete and advantageous investment, independently of the
oge profits which may be anticipated from such important
rics.
oftr„he Italian Government also guarantees the repayment
...4013 capital through the operation of a sinking fund. The
',2piption of the shares will take place annually by lot,
wOA this great advantage to the shareholders, that, after
ing received back their capital in fall, they will remain
participators in all profits exceeding 6 per cent. during the
Letnaining term of the concession.
The provisional concession was signed by the Ministers
(A Agriculture and Commerce, and of Finance, on the 15th
ultimo, and the Government has engaged to procure for this
~
‘4Thapany all the necessary powers which require the con-
Sent of the Legislature.
.....EXPENDITURE.—The cost of the works will be de-
inra_Yed by the share capital of the Company, and by bonds
ed under the authority of the Government, with interest
"ar• anteed. Every bond will be stamped by the Govern-
! and the interest of 6 per cent, will be paid at the
Vona' Treasury.
rovisiona 1 contracts have been made with the sanction
ti 7);,
of
of the Italian Government for the execu-
vr,;' of all the works by experienced contractors, who are
fired to deposit ample caution money for the fulfilment
their engagements.
PROFITS.—The di b
rectors desire to avoid holding out
7g:erated estimates of the large profits to be derived from
ii
tfeir irrigation works, in addition to the guaranteed interest
• Per cent. ; but the official returns in their possession,
1.1.11 have been prepared with the most:scrupulous accu-
1-f., and which may be seen at the offices of the Company,
;ifY, them in anticipating profits fully equal to those
~ u'; have been obtained under the most favourable cir-
ca-rBtances in Italy and other countries. In making these
to_there culations
i can be no better guide than what has
jo place n our own Eastern Empire, as exhibited in the
Ov ing statement:
.„
tio:tMNA CANALS, NORTH-WESTERN PROVINCES.—
'erriment returns show that the value of the crops saved
eu"21„8 year by the water supplied by these canals, whose
of is 445 miles, was L 1,462,800. In 1853 the Court
1.-"ireeters sanctioned an expenditure of £15,276 on the
I,7"tera Jumna Canal, which in one year yielded a clear
ch...°4t to the government of £9,759, besides enormously in-
curjug the value of the crops, and thus benefitting the
,'Lvaters to a far larger amount.
ORTH-WEsTERN PROVINCES.—In these provinces
vnl'Tenditure of £557,000 was found sufficient to construct
01,`,.4s irrigating 1,300,000 acres, and thus obtain a produce
of annual value of £2,500,000, supporting a population
0000 souls.
lias-iItEAT GANGES CANAL, NORTH-WESTERN PRO-
kol,,-,g.—Colonel Baird Smith, the director of this canal,
At course of construction, estimates that it will be com-
or"'',,_ for £2,000.000, and that it will raise the annual value
'"e crops it will irrigate to £7,000,000, and the gain to
',cultivators will exceed £3,000,000 per annum."
etiqatract from Report by Lieut.-Colonel C. B. Young,
2itfejating chief engineer, Lower Provinces of Bengal, dated
Z',lvlay, 1858 :
tale', hatever the results of different calculations may be,
,°. can be no question i I believe, that canals as irrigaon
k;',l are remunerative n India, whether the profits be 50
C' eclat. and upwards, as Col. Cotton rates them, or, accor-
u,
khito the more moderate estimates of Lieut.-Colonel Baird
about 24 per cent., or, according to the experience
tce44° canals in the North-West Provinces, 12 to 16 per
th..s it is equally the result in all cases ; I believe that
koY repay richly to both Government and to the people the
Ite'S' expd on them."
to
nether
6 pe recent. interest on the shares allotted in England,
e",er with all dividends out of profits, will be paid half-
""•37, at 25 francs exchange, by the Company's bankers in
n.
bEla works which the Company has undertaken have
ttir,,
is urgently demanded by the whole population. The.
20"ertakingreceived with the greatest favour in Italy
,000 shares are reserved for that country, leaving 30,000
fit'
allotment in England.
Applications in the annexed form may be made to the
Stokers
Directors at the Company's offices, or to the
4,rokers of the Company in London.
A copy of the concession may be seen at the diem of the
`'ompany.
London, April 4, 1862.

TORE OF APPLICATION FOR SRARVEI.
° the London Directors of the Italian Irrigation Canal
Company.
entlemen,—Having paid to your bankers the sum of
4114 , I hereby request that you will allot me
es of £2O each in the Italian Irrigation Canal Company,
l
amber
hereby agree to accept the said shares, or any smaller
that may be allotted to me, upon the terms of the
taylte, 8) to be approved by the Italian Government, and to
klet" further deposit of £1 per share upon the shares
kph,s.vti to me at such time and in such manner as you may

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

11 --'----. .
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