The Sun.
London, England, 1865-05-26 00:00:00

The The total mileage is about 14 miles.
has traffic on the Metropolitan (Underground) Railway
.t 67 jttaounted since Ist January, 1865, to an average of
and at Per mile per week, which is moreover daily increasing,
ttetan,;uouriahteptroens.iet)Thn.itosaf
through fromtr.ameffitre,opolitan rassengers' a trifling
and no goods being as yet
ketr 11 it is considered that the present traffic on the
°Politan Extension Railways in London, Chatham,
ayCompany
yover is conducted over only two lines of
that'. uti with an inadequate amount of rolling stock, also
yit is still unfinished, and that the portion at work has
°III re
Are ceatly been opened, it will be observed that the
a_ sent receipts afford no reliable data upon which to form
Ll;stirnate of the probable traffic.
pete° fix the amount at anything like what is felt by com-
tra tat judges will be the actual result when the enormous
fan that the'unctions with the Metropolitan (Under-
Vadl the Great Northern, the Midland, the Great
a —btirn, the West London Extension, the South Western,
_lid the North Western, will bring on the lines, might be
''''llsidered an exag eration by those inexperience in traffice
"oderful elasticity of metropolitan and suburban
t It is therefore thought better not to estimate the probable
1,144176-4 c higher than the average of the mileage receipts of the
piebrOpol:l_
~-"uan (Underground) Railway, as above mentioned,
rift 1 ."'" 3 mile per week. This multiplied by the mile-
e.ie of the Metropolitan Extension Lines of the London,
4.nathara, and Dover Railway Company would give a re-
deducted of £489,944 per. annum. From this sum must be
estimate.
40 per cent. for working charges, which is a liberal
'!claie. The net results from passengers only may be
estimated therefore at £293,966 per annum.
z, The large goods traffic, which these lines will enjoy alike
Irona the admirable position and number of the stations as
from the arrangements made for working the traffic, will
certainly augment the receipts by at least £40,000 net per
annum ; which, in that case, after paying interest on de-
bentures on the B and C Stocks, would yield a dividend of
5 per cent. on the whole of the £2,425,000 A Stock (in-
cluding the present issue), which, at the price it is now
Offered at, would be equal to 10 per cent, per annum.
The price at which the A Stock is now offered must be
,considered most advantageous to the investor if only one
nail of this result isattained; when, however, the increased
ILeceipts would permit a dividend of 5 per cent., the Stock
'last certainly rise to par, which would practically be a
Profit of upwards of 47 per cent. above the price of issue.
fi It is considered that results approaching the above
pres will be reached in less than two years, and that a
w
.keVY increase may be further looked for from that time.
totia.„cgements have therefore been made with Sir S. Mor-
yet°, Bart., Betts, and Crampton, to guarantee inte-
at:',,as from Ist January, 1865, until Ist July, 1867, at the
\,,„,"f, 6 per cent. per annum on the amount paid up, by
b
Len latter date it is confidently believed the intrinsic
'gaits of the whole system will have developedthemselves.
et.-Ulie belief entertained as to the augmentation in value
1/411.18 stock, when it is considered that the lines possess
tra-ZePolitan termini as well as metropolitan and suburban
gtoTI is borne out by' the relative prices of the shares and
dere4 of the Great Northern and of the Metropolitan
Fr01211d) Railway Company, before they bad finished
lines and afterwards, viz.—
'"'e Great Northern A Stock was in October, 1853,
quoted in the Stock Exchange List at £54 per £lOO
Stock, it is now worth £145, or 91 per cent. increase,
The Metropolitan
4:ce Metropolitan (Underground) Railway was in Ap_rili
01611 four years ago, quoted in the Stock Chan' only
List at equal to £54 per £lOO Stock ; itnow is
Ivorth £135, or £Bl per cent. increase in value ; these
,Zeta speak for themselves as to the prospects of the
Thec'ck now offered far subscription.
et Price "of subscription is fixed at £2l per certificate
Dayra ' equal to £52 10s. per £lOO stock, and the periods of
ent are as under :
£1 per Certificate on Application.
4 Allotment.
4 71
Ist September, 1865.
4 17
Ist December, 1865.
4 51
Ist March, 1866.
4
Ist June, 1866.

liablla callB
not
duly paid will render previous payments
tertiß tee forfeiture. When the whole amount of £2l per
;
-8 paid, .£4O Stock for each certificate will be
,i,Terred into the name of the then holder thereof. • .
e option_ will be given to all subscribers to pay up in
11,11,,; °I.I allotment (entitling them to interest on the whole
to. ant of price of issue from Ist January, 1865) ; and dis-
brteat the rate of 6 per cent per annum willbe allowed on
tai•tha,3rment of instalments. These two allowances would
e!, reduce the price of issue by about £2 16s. per cent.
phiallotment, those applications the whole balance on
nietetu it ia intended by applicants to be paid in one ms -
1,11 allotment will be first considered.
APlications must be made on the Forms annexed, and.
110 °I)bl, P,anied by payment of £1 per share (without which
tie -411 cation can be considered) to any of the undermen-
ted ,
10 4niterSdon :-
-Lon and County Bank.
ijaara. Glyn, Mills, Currie, and Co. .
e Agra and Masterman's Bank (Limited).
pews. Smith, Payne, and Smiths.
ih 41:iaNationa' I Bank, London, Dublin, and its Branches
Th
tr,„, e, National Bank of Scotland, Edinburgh, and its
j„-e,u,B in Scotland.
pa.,l,_Lue event of no allotment being made, the Deposit
istil; will be returned forthwith without deduction; and if
the sue are allotted than the number of certificates applied for
alleZal Will be applied towards the amount payable on
Pro lit °A the number so allotted.
nude aPectuses, with Maps, Plans, &c., may be had of the
lit:reentioned Stockbrokers :
keaare Laurence Son, and Pearce, 9, Angel-court, E.O.
Ite,-B.era• J. and A. Scrimgeour, 10, Old Broad-street.
ingt-1,81,,a• 'Knight, Dale, and Co., 1, Royal Exchange-build-
land, ; and of the Credit Foncier and Mobilier of Eng-
Ofa 1-Amited (Alfred Lowe, Esq., Secretary), at their
the ClB,Bl 17 and 18, Cornhill, London • and at the Offices of
tb.,loalel°ll, Chatham, and Dover Railwayi Company (W.
0113,18°,11, Secretary Victoria Station, Pimhco
TO S.W.
APPPICAT),ION FOR SHARES BE
-co the PAID UP BY INSTALMENTS.
Directors of the Credit Fonder and Mobilier of
41,212 WI England (Limited).
wa„l-1) A Stock of the Metropolitan Extension Rail-
p y, B°f the London, Chatham, and Dover Railway Com-
an
Gentlemen,
be1:141'111g paid to the* ' Bank, the sum of
I reTaco. 1 Per Scrip Certificate on Scrip Certificates,
above you to allot me Scrip Certificates of the
in conformity with the Prospectus issued by
less ,"4 i hereby agree to accept such Cert. ificates, or any
ther "raper that may be allotted to me, andw pay the fur-
the insta .81114 of £4 per Certificate due on allotment thereof, and
lments when due.
I am, Gentlemen, your obedient Servant,
Name in full
Usual signature
Address in full

Data
Or -• RaY, 1865.
FORM OF APPLICATION to be USED by
4 'IOANTS desirous of PAYING the BALANCE
To ,214 E INSect TALMNT on ALLOTMENT.
the Dire of the Credit cie Fonr and Mobilier of
£1,212 A England (Limited).
of t0"00 A Stock of the Metropolitan Extension Railways
Londom Chatham, and Dover Railway Company.
Gentlemen,bewing paid to the. Bank the sum of £
8s • .
Cat Per Scrip' Certificate on Scrip C. ertifi-
-81
of the request you to allot mo Scrip Certificates
by above stock in conformity with the prospectus issued
mlfl-1, and I hereby agree to accept such Certificates, or
further number that may be allotted to me, and to pay the
el. sum of .E2O per Certificate due on allotment thereof
1 am, Gentlemen, your obedient servant,
Name in full
Usual Signature
Address

Date
May, 1865.
* Insert Bankors' Name.
ISSUE_!_
of 1,212,000 A STOCK of the METRO-
bON- -‘,I,.•I'NN EXTENSION RAILWAY of the LON-
T.' A ' i," - ' TRAM, and ',OVER RAILWAY COMPANY
fl; --,.Etlirr PONCIER and MOBILIER of ENGLAND
, nltted) 1,
a;r -creby give notice, that the SUBSeRIPTION
tsmior the above Stock will CIA ISE for IrdWo
Applic PAY, the 27th instant, at Three o'olock, on to,. _ ationa, and on MONDAY NEXT, the 29th instant,
. uounlrY Applications.
By order of the Court,
ALFRED LOWE, Becrelo.l9.
I.olldgn, 1147 2.6, 180, 17 and iss Corn= •