The Sun.
London, England, 1865-05-15 00:00:00

. , This Company is formed for the construction and work-
nag of two lines of railway in Peru—one to connecttheaeaport of Pisco with the town of Yea ; the other to
con-
nect
the city of Arequipa with the port of Mejia.
For the construction of these railways the Governmenttee
°I Peru have granted special concessions, and Itgwuearerannot
of income, which would appear exorbitant, if .
that the statistics of the existing traffic have satisfied the
Peruvian Government that the railways, when at work,
will yield returns which will not only relieve the
._e
Govern-
ment of the charge for their guarantee, but far exceedthe
sum required for that purpose.
The Peruvian Government guarantees for the period of
twenty-five years—or until the railways have produced
-
it)yer and above the cost and provision for repair, reno.
len, and maintenance for the space of two consecutive
years, dividends at the rate of 7 per cent. per annum—
an
an income of £233,800 per annum, charged upon the public
rpvenues of the State, and further secured by hypotheca-
tion of the guano shipped to European States. The cono-r
rcelisions for the railways contain the usual provisioneef
_-
_eunbursing to the Government(out of any surplus ex ed_
islaugg.lo per. cent. per annum dividend to the shareholders)
their 1". sums, if any, as may„have been paid by them to cover
guarantee.
The concessions of these lines of railway from the Go-
Iverntnent of Peru is for a period of 99 years from the open-
ag of the railways. A sufficient sum will be set apart to.
forma
, Sinking fund for the redemption of the whole capi-
f ' ab 4 Premium of £lOO per cent., to be operative yearly
aster the' first 20 years of the working of the railways. The.
?pares so redeeined to be altogether cancelled, and the divi-
teends which would otherwise be payable on such shares to
Acrue to and form part of the sinking fund. After the first
2 Years the prim at which shares shall be redeemed and
than fled
shall be regulated at such higher or other price
fund 4 81,1010, per cent. premium as the state of the sinking
when a i warrant.
anent it is borne in mind that the Peruvian Govern-
v,.. Loan, bearing 41
„2 per cent, per annum interest, pre-
of extinct borrowed on the same security, is rapidly in course
_
rteil:eixiztiic7tio, it will be quite evident that, irrespective f
ct of a much higher rate of dividend being
security fro the -working of the railways, the nature of the_
should obtain a ready market for the shares of the
_ /to ~.,„
C
Tre "Y.
N,,,_ Prospects of revenue from the working of the rail-.
.Ys are hwever, s eat as to render the Government
Se?gßuarantee (in other r 0 respects so important) a feature of but
Clary consideratieosii.
miles Republic of Peru has a seaboard of nearly 1,600
perhaps an area of about 50,000 square miles. There is,
n° country in the world in which the eleents of prodnlercial
4_ prosperity are more complete. Themmnae
abound,ll%`' of all kinds with which its interior provinces
c.i,„ combined with its long stretch of coast, give it an
on iu,st unrivalled facility for the development of commerce
ohsl.r, Most extensive scale. To this development one
of cee----and one alone—exists ; the want of propermeans
try tellninication between the ports and the interior coma-
/teIII sPite of this obstacle the large existing trade of the
tatblic is proved by its Custom returns ; and that under-
aro Igtael having for their object the remedy for this defecot, the cap Y to be remunerative, is shown by the wslyki_negodsf
at a ~,,'a° and Lima Railway, which now pays dividends
~... cost of construction.
£3O par cent. per annum on the ori-
r7itajare
beoltPinaProryaohing
charge for the conveyance of goods per
like, ooitt„„P„13/11 is equal to the charge for the carriage of a
TC"'".",Y in Great Britain 14 miles.
this Jo' construction of the railways to be undertaken
.by
pin rtazdt°PanY will establish communication between im-
ports centres of commerce in the interior and the proper
the sea coast.
Thetra line from Mejia to Arequipa is laid out to serve t.he
to the which at present takes the route from the latter city
of ~,,° Port of Islay, a route which forms the main channel
rinf",,.llllll,lliiication from the coast to the districts of Are-
Bolivia and Cuzco, and the northern portion of
tatiTihe connection with the last mentioned State is in-Tor-
to its `', as the establishment of a system of railways suitable
raih,own wants is now a subject of serious attention. The
of "vaY now proposed would form one of the main outlets
_ .....
ids.`"-,Y SUCh system to the coast of the Pacific, a ci.r?um-
trate° which most
st cure it a considerable additional
c ~., the ne mu se .
most remunerative de.scription.
tst 0. railway from Pisco to Yea is proposed to be con-
aalland under conditions analogous to those of the Callao
~Lima line already referred to.
t.. rom the easy character of the line, and a large existing
„raffle in theevenue must district to be traversed, it is evident that the net
greatly exceed the uaranteed amou.
The lengths of the proposed linegs are as follows :nt—
riMejia to Arequipa, ..................... 90 miles.
sco to Yea.............................. 46 miles.
A contract
tTotal
e. ..
"o'n-a.ru...c.t-io-n...0l ......................... been
ereimreaded;i,itsoecowirdithegthtoe
thlneteesrntiamtisotenals
of G.
Btidedeorm,
Esqpany.,
E acancodrjdarMliwiPthPetih'eEtescirms'' 0.E.0f each concession the Com-
pany will be converted into a Soci6t6 Anon, e with shares
nynaTheee,wucaplitabel
xsof
,3thie(Sooo_cietet6
to bearer, or, if necessary, into two Soci6t4s A
fie, or ozaSroelisci°6antidsborido;
The present Comp'any ha,s formed as a Limited
Company,
Liability
te shares menwhich will be h
able for shares of a like denomination in the Societe
• Copies of the Articles of Association, of the Contract, and
'341 the Acts of Concession, with translations, are open, at
f°-31tiesoffices of the Company, for inspection by parties desi-
_,
ves tu become subscribers, so that they may make them-
Such co'el acquaintesd with all the provisions and conditions of
ncess ion.
or-
he deposit paid on application for shares will be f
thed and the allotment cancelled in cases where the f?rh-
tePaYment on allotment is duly made in accordance with
0 terms of the allotment letter.
araf 4PPlications for shares must be made in the annexed
a, addressed to the Directors ,• but no application will
o_
th_oansidered unless accompanied by the receipt of on
m_f the Bankers of the Company for £1 per share on the nu
the
(iatdims °f shares applied for. This sum will be returned in
of the application not being acceded to.
be h°arcle,s,°f Application for Shares and Prospectuses may
Tlik, '''••-:
The National Bank, London ;
National Bank of Liverpool ;
Bank of Ireland, and its several branches, Ireland ;
A,t Branches of the National Bank, Ireland ;
At the Offices of the Brokers of the Company ; and
85, r, nonfaces of the International Contract Company,
%dastreet, West, London, E.C.
FORM OF OF APPLICATION FOR SHARES.
Ptltrl
„ be (To left with the Bankers.)
AN
To the RAILWAYS COMPANY (LIMITED).
No
•
Directors of the Peruvian Railways Company
(Limited).
Gentlemen,
..e Ihtviag Paid to the Bank the sum of
Ncest , being £1 per Share on Shares, I
ill
the /ou to allot me Shares of £25 each
f:brillic.les eofrtiviall Railways
Company
(Limited), in con-
a,,,, AY with the Prospectus issued by you, and I hereby
AP' to become a -member of the Company, subject to its
Associatio and Regulation and to accept such
to are°, or any less number that may be allotted to me, and
qu 10:137 the further sum due on allotment thereof, and I re-
ber: • that ray name may be-placed on the Register of Mem-
na respect of the Shares allotted to me.
I am, Gentlemen, your obedient servant,
Name in full
Address in full
Reference
Date