The Sun.
London, England, 1865-02-23 00:00:00

BANKERS.

Messrs Smith, Payne, and Smiths, Lombard-street, E.C.
The National Bank, Old Broad-street, E.C.
Bank of Hindustan, China, and Japan (Limited), in Cat
cutta, Bombay, China, and Japan.

SOLICITOR&
Messrs. Newbon, Evans, and ()J., Nicholas-lane, E.C.
J. if. Mackenzie, Esq., 77, Gresham House, E.C,

BROKERS.

Messrs. Laurence, Son, and Pearce, 7, Angel-court, Throg•
morton-street E.C. _ _ _

_____.
Messrs. Field, Son. and Wcod, 9, Warnford-court, Throg
morton-stroet, E.O.

SECRETARY (pro tem.)
Alfred Lowe, Esq.
TEMPORARY OFFICES-17 and 18, Cornhill.

This powerful Company has been formed for the purpose of
acquiring, consalidating, and developing the enterprises
known as "The China and Japan Steam Navigation Com-
pany," and "The Labuan Coal Company.' •
The object of ihe former company was to supply the much
felt need of steam navigation in the China waters, and the
latter company was formed to work the coal mines in Labuan
and Borneo, and so supply the whole of the Government and
mercantile marine in the East with steam fuel. It has ben
found, however, that from the fact of those companies having
beet, formed with too small a capital, and on too limited a
basis, the requirements both as to supply of vessels and a'so
the further development of the coal mines caunot be ade-
q ately met. It has therefore been considered advisable to
merge the two undertakings, and to make one lame Com-
pany, with sufficient means and influence to develop the
valuable busi,,ess of botn the old companies, and in accord-
ance therewith arrangements havr been made for tee imme-
diate transfer by them of their respective fleet and collieries,
together with the goodwill and valuable plant.
This Company will therefore immediately acquire the
powerful trading steamers Elgin, Mona, and Sterling, and
steamtugs Titan, Vulcan, and Tienchang, already well known
and profitably employed in China ; and the sailing-ship
Andromeda, a frigate of 2,000 tons burden, admirably adapted
for a coaling hulk.
In neveloping the shipping operations of the Company, in
addition to the building of trading and collier steamer, spe-
cial attention will be paid to the construction of tug steamers
adapted to the ever-increasi g inland traffic of the great
China rivers, where the demand for such shipping is constant.
It also pro,osed to establish a line of steamers between
Bombay, Singapore, and Hong Kong.
This company will also at once enter on all the rights of
the Labuan Coal Company, in Labuan and Borneo, and all
their pits, plant, buildings, and stock of coal in the former
island, and take over their valuable contracts with her Ma-
jesty's Government.
The Labuan coal has been contracted for extensively by
the. Admiralty, and will actually be the standard steam Coal
for the Navy in the China watsrs, and elsewhere in the East,
as well as extensively used by the leading Steam Shipping
Companies, when the arrangements contemplated tor storage,
rapid loading at Labuan, ana delivery at the different Go-
v roment stations in the East shall have ben completed,
the present m ans of production and delivery being totally
in dequate to meet the constantly increasing demand.
The Resident Manager of the Labuan Coal Company, in a
late report states that the work now completed upon a field
of coal to the extent of above a million of tons, and that anew
pit—the preparations for the sinking of which has been com-
menced, and the machinery for which is on the spot—will
quadruple the quantity available for working, or four millions
of tons, the further quantity to be obtained being practically
inexhaustible.

Immediate steps, therefore, will be taken to open this pit
and others, and to connect the mines with the harbour of
Victoria, by a mineral tram railroad of about seven miles in
length. In Port Victoria, ships drawing 20 feet of water can
lie close along shore, and every facility is offered for their
being economically and rapidly loaded by the erection of coal
shoots. Coal hulks will also be established in the leading
ports of India and China. By these means the Company will
be able to meet the demand for steam fuel at highly remune-
rative rates, In addition to supplying their own fleet with the
necessary coat.

resent Price of Coal in China : The present price at Hong
Kong for coal, equal in quality to that of Labuan, is 455. per
ton, and that price is exceptionally low.
rofit : —The probable profit of the undertaking will be seen
by reference to the following figures. Experience has proved
the cost of ra sing t.le coal and placing it on board the snip
at Labuan to be es. to 75. per ton. Taking the price sites. 9d.
per ton, and adding 3s. 3d. for hgency, management, dtc , the
cost of the coal un bo.,rd ship at Labuan would stand the
Company les. per ton. Allowing for the Company's steamers
a freight o' say 15s. a ton, the cost of the Labuan Coal, when
delivered, would be 255, per ton, against 458., the present price
of English coal equal in qu lity ; and it is estimated that
when the Company is fairly at work, it could easily raise and
dispoge of 100,000 tons of coal annually.
Supposing coal and freight to cost 258. per ton and sold at
455. per ton, there will be a profit of 20s. per ton, which on
the produce Cf 1,..0,00) tons only per annum is equal to
£ 00,0!0
Net profit of steamers, say

£130.000
but calculating that only 51,000 tons are for the fir-t year
raised, and that there is only 15s. per ton profit realised
thereon, there is still, with the profit on the steamers,
£67,0) per annum, or '4B per cent, on a paid-up capital of
£250,0 0, or, allowing for interest on debentures, above 20
per cent. net for dividend.

The allotment of the Shares will be made on the follow-
ing basis, viz. : _

7,509 Shares partly fully paid-up, and partly with £lO paid
up, will be reserved for allotment to the applicants who are
Shareholders in the existing Companies. of these 6,000 have
already been applied for, and the deposits paid to the Ccm-
i any's BanYere.
7.000 Shares, with £4 paid, will be allotted to Shareholders
in the Credit looncier and Mobilier of England (Limited!.
6,0C0 Shares. with £4 paid, will be allotted to the general
public, as also such shares (if any) as may not be applied for
in the ioaid-up form, or by the ,bove.
Applications will also be received for 5,000 fully paid-up
Shares, on which dividends for the whole amount paid-up
will be declarer.
1,5c0 Shares will be reserved for allotment in Bombay, ap-
plications for which will be received by Messrs. D. Bassoon
and Co., Bombay.
The concession, plans, reports, and articles of association
can be inspected at the Offices of the Solicitors.
London, 21st February, 1865.

In consequence of the large number of Shares applied for,
no fresh applications will be received, nor can any increase
to the number originally applied for by each applicant be
entertained,

28f) pp., Cloth, lettered, price 35.,
VEGETABLE C 0 KERY.--Pastry, Pickling,
&C.

This volume supplies a want long fe't. Cookery books
exist in abundance, but they relate almost exclusively to the
preparation of dishes from animal food. I his work is devoted
entirely to the proper cooking 01 vegetable., to preserving,
Jelling, the preparation of sauces, soups, beverages, dic. Arc.,
and f,,rni+ a complete treatise upon the subject. Vegetables,
fruits, dm, constitute VI, halt of our daily food : here is an
essay upon the best possible preparation of this half.

Ir EA.—Just received, ex " Whinfell," excellent
FAMILY TEA., offered to Families at Merchants'
Prices, viz :-3s. per lb., recommended ; also, ex " Lochin-
var," Finest Ankot Souchong, 3s. 6d., vet y [superior. Tea :
common, Is. 10d., 25., to 2s. 4d. Samples may be seen and
had on application. Price List free.

MO olti :BROTHERS, Merchants, :15, London-bridge, City.

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