The Sun.
London, England, 1865-12-08 00:00:00

I ONDON must nave a SUPPER and MUSIC
.
8...4 ROOM- for Gentlemen. • Remember, we wait for yell At
EVA N s' after the Cove-nt,ganien-.Opera and the Theatres.

MUTUAL LOAN • FUND _ASSOCIATION
• (Incorporated py Act pf Pailiament, 1850).
14, RUSSELL-STREET, COVELIT,GAIt DEN, LONDON
.--ADVANCES 31ONEY on Personal Security, Bills of Sale,
Freehold or bencfleial,Leasehold eroperty, without inquiry
fee, or any deduction whatever, for periods of one, two or
three years, repayable weeklr-monthjy, or quarterly. Bills
discounted. greateit secretly observed. Advances also
matte Towards th Purchase of a House, repayable in 5, 10; or
15 years —Forms free on application, or receipt of a stamped
envelope.
EDWARD HARPER, Secretary.

THE ATLANTIC AND GREAT WESTERN
RAILWAY.

Capital Authorised.
Shares, $30,000,000, in Shares of $5O each.
Mortgage Bonds, Six Millions Sterling, or Thirty Million

Dollars.

Issue of Consolidated Sterling Mortgage Bonds for
£2,771,600,
saving 25 years to run, bearing Interest at Seven per

Cent. per Annum.
Secured- on the whole Line of the Atlantic and Great
Westthi Railway, with Branches, Extensions, and
Equipments.
a,228,400 being reserved for_ Redemption of Mortgage

Bonds alrelidy issued on the several divisions.
The Bonds are of £lOO, or 500 dollars, each, with interest,
Payable Quarterly, free of Income Tax, in London,
in sterling, or in New York, in Gold, at the
Company's Offices.
They are payable to bearer, but can be registered at
holder's option.

BOARD OF CONTROL IN. LONDON.
Sir S. Morton Peto,.Bart., M.P.; Chairman.,
James Goodson, Esq., 11:P., Chairman Great Eastern
Railway, London.
W. Fenton, Esq., Director of the Great Western
Railway, London.
C. J. Kennard, Esq., Director of Consolidated Bank,
Limited, London.
Lewin B. Mozley, Esq., Director of Barned's Banking
Company, Limited, Liverpool.
Joseph Robinson, Esq., Deputy Chairman Ebbw Vale
Company, Limited, London.

BANKERS.
The Consolidated Bank (Limited), London, Manchester,
and Norwich. •

The National Bank, London, and Branches in Ireland.
Messrs. A. Heywood, Sons, and Co., Liverpool.
The Bank of Scotland, Edinburgh, and Branches.

SOLICITORS.
Messrs. Freshfields and Newman, Bank-buildings,
London, E.C.
BROKERS.

-----
Messrs. Joshua Hutchinson and Son, Angel-court,
London, E.C.
Messrs. E. F. Satterthwaite and Co., 38, Throgmorton-
street, London, E.C.
Messrs. Laurence, Son, and Pearce, 7, Angel-court,
London, E.C.

The Report of J. S. Forbes, Esq., well known to the
British Railway public as Vice-President of the Dutch-
Rhenish Railway, and General Manager of the London,
Chatham, and Dover Railway, contains full information
derived from personal inspection of the position and pros-
pects of the Atlantic and Great Western Railway, from
Which it appears—
The Atlantic and Great Western Railway system corn-
Prises

507 miles now in work, including 17 miles recently
opened.
100 miles in course of construction.

Total, 607
of which 526 miles belong to the Company; and 81 miles
are leased for 99 years, at a low rent ($273,072 a year).
Though not yet fully completed, the traffic already equals
that of many of the best American lines.
During the first six months of 1865 the receipts upon
the 322 miles than open were $2,579,737, equal at the
Present rate of exchange to $7 in the £, to £368,533.
Since July 490 miles have been opened, and the receipts
have been $2,011.676, equal to £287,382, for three months,
or at the rate of £1,149,528 per annum. The subjoined
Monthly traffic return shows the steady increase of
traffic.

Total.
1865. Miles assengers Freight I
open. Mails, &c. 1864. i 1865.
Dollars. Dollars. i Dollars. Dollars
'nary.. 322 111,751 249,379 207,298 361,13(
„ 109,718 277,930 229,041 387,644
rch 113,412 336,403 226,733 449,811
ri1.....1 „ 117,691 288,989 197,267 406,68(
„ 135,431 324,988 214,679 460,44;

January ! 322
February 1
March
April I „
Ma
Juny e
July 490
August I 17
September
October I „

Dollars.
111,751
109,718
113,412
117,691
135,434
163,733
162,655
213,469
210,914
207,861

Dollars. i Dollars. Dollars.
249,379 207,298 361,130
277,930 229,041 387,648
336,403 226,733 449,815
288,989 197,267 406,680
324,988 214,679 460,442
350,289 i 314,521 514,022
432,868 j 332,098 1595,523
525,059 1406.076 I 738,528
466,711 1 446,044 i 677,625
512,050. E 396,847 719,911

This table includes the traffic of 33 miles of the Oil
Creek Railway, which was constructed by and has
hitherto been worked by the Atlantic and Great Western
Railway Company, but does not form part of the consoli-
dation.

The actual result, therefore, is a gross receipt at the
RV° of upwards of £1,000,000 a year at the present ex-
change, with 100 miles still to open, and a large increase
of traffic only waiting for a further supply of rolling
stock.

This large traffic is owing to two causes :-
1. The Atlantic and Great Western line forms the
central link of the greatest line of through traffic in the
World, viz., that between the Western States of America
and the Atlantic. From its shorter distance, and advan-
tage of forming part of an unbroken line of 1,200 miles on
a uniform six-feet gauge, it must always be the best line
of communication by which the enormous goods and pas-
aeoger traffic centring in the Western cities of Cincinnati,
Cleveland, Chicago, and St. Louis, can arrive at New
York and the sea-board.
2. The local traffic is equally enormous, owing to its
traversing the newly-discovered oil districts of Pennsyl-
Irallia, and the great coal-fields of Northern Ohio. Some
;cleft ef the local traffic thus waiting for development may
be formed from the single fact that this oil district now
Yields at the rate of 3,000,000 barrels per annum, for the
conveyance of which as much as 3d. to 4d. per ton per
kite is willingly paid.
A. Consolidation of the several Divisions of the Atlantic
and Great Western Railway under one executive has been
blade, and a mortgage for 30 million dollars, or 6 millions
sterling of bonds has been created, and also a capital of 30
million dollars of shares of 50 dollars each, based on the
Whole property of the Company. The new shares will
supersede those previously issued, with the exception of
1,919
000 dollars of Preference Shares pledged as part of
the security for the Certificates of Debenture issued in
""evember, 1864, which will, therefore, remain Preferential
Until those Certificates are paid off, when the whole be-
et:l4e ordinary share capital. Provision is made in thee
mortgage deed (under which the Consolidated Mortgage
841012ds are issued) for securing the rights of the existing
'°rtgage Bonds, and also for their exchange at maturity,
)r earlier, by consent of the holder, if authorised by the
Board of. Control ; this being completed, the present Con-
solidated Mortgage will become the first mortgage over the
Whole railway, with its branches, extensions, and equip-

The Cottsolklated. Capital will therefore consist of
460,000,000, half in Shares autl half in Mortgage Bonds,
Which provides for the completion of the entire line. •
To meet the interest on these Bonds at 7 per cent. in
sterling, after paying all working expenses, it is calculated
Mr. Forbes that a gross annual receipt of $6,442,000
Irould be sufficient, which is considerably less than the
annual receipt, and $3,573,000 less than Mr. Forbes's esti-
kate of the annual receipt when the additional 100 miles
.41j,e.opened, so that the security for the Bonds is ample,
..40t there is every prospect that, in addition, a high rate
°„I dividend will be paid on the $30,000,000 of Share
‘;atital.
'lle Consolidated Bonds have 25 years to run, with
*.ollPons for interest at 7 per cent. per annum, payable
quarterly, free of income tax, at the Company's Offices, in
14°Odon or New York, in gold. Interest is payable on 15th
"nary 15th April, 15th July, and 15th October of each
Year,
I„A! is proposed to appropriate the total authorised issue
1530,000,000, or £6,000,000 sterling Consolidated Mort-
gage Bonds, as follows :
toi• reserve of $16,142,000 will be placed with trustees
rileet, either by conversion or payment when due, the
I:iisting• divisional Mortgage Bonds, being the total amount
tuai has been issued, or authorised to be issued, as certi-
rbyMessrs. Coleman, Turquand, Youngs, and Co., after
„,,..11° examination of the Company's books and registrars, or
'lnal to £3,228,400. This includes all Bonds issued to the
Vie, and 'also the Bonds deposited with Trustees for
tke:Oertificates of Debentures issued in November, 1864,
a" security of which remains unaffected by the present
rra„ Reme nts.
‘• The balance, viz.:—£2,771,600 is offered for public
t-eascription, at the price of £BO per £lOO Bond, including
to Coupon due January 15, 1866. payable as follows:—
X. 5 per £lOO Bond on application ;
10 „ „ on allotment ;
25 „ „ on 15th January, 1866, less coupon
D. 15s. duo on that date ;
20 „ „ on 15th February, 1866 ;
, 20 on 15th March, 1866 ;
tlowing for r the January Coupon, the nett price of each
,_"‘100 Bond will be £7B 55., or allowing for discount on pre-
vivYtnents under £7B.
trßubscribers will have the option of paying in full, under
f ifieount, at the rate of 7 per cent. per annum ; but, in de-
vailt of due payment of the respective instalments, all pre-
-4°llB Payments will be liable to forfeiture. The defini-
fore bonds being now ready will be delivered, in exchange
,Ber!la, as soon as it is fully paid up.
13,`JoPies of the law authorising • the consolidation of the
of'reral divisions and branches of the Company, and deeds
botrnst or mortgage, of the form of consolidated mortgage
of bon and of other doburnents relating to the present issue
EN. s, are deposited for inspection at the offices of the
teitors.
kttPt. plieations must be addressed either to the Secretary,
Di " offices of the Company, 5, Westminster Chambers,
Co otoria-street, Westminster, S.W., to the Bankers of the
1:011VanY, or to the Brokers, from whom Prospectuses and
17°8 of Application can be obtained.
olidon, Dec. 2, 1865.

ATLANTIC AND GREAT WESTERN RAILWAY.

FORM OF APPLICATION.
To the To be retained by the Bankers.)
.(4° Board of Control, Atlantic and Great Western

..... Railway Company.
tectt,4:leg, paid
st that you will allot me sum
of
.4
I hereby
Consolidated
gage Bonds of the Atlantic and Great Western Rail-
k.ty •
0,,t, and I hereby agree to accept such Consolidated
to Iliage Bonds, y
or an less number that may be allotted
according to the terms of the Prospectus.
I am, your obedient servant,
Signature
Address in full
Date
114 E ATLANTIC AND GREAT WESTERN

Isri..,, liAIEVTAY:----- -
--QI OP CONSOLIDATED STERLING MORT-
, Isio,/, GAGE BONDS FOR £2,771,600.
JkI"PLTIOB 1S HEREBY GIVEN, that the LISTS of
140n4 &CATIONS for these BONDS will be CLOSED in
Wtijvil,,on TIJESDAY NEXT, the 12th instant, and on
'''-'BDAY, the 13th, for the Country and Continent.
Atlantic
and
Westrain. By order.
Great Western Ilailwa
Westminster
chambers, Vi ctoria-streey, 1,
t,
s-ter, S.W., Dec. 7, 1865.