The Sun.
London, England, 1862-04-08 00:00:00

THE ITALIAN IRRIGATIONN
CO,IPAN Y. Societt Anon with Limited CA
Liability
AL
ility
and Shares to Bearer.
Sham capital 25,0C10,000f. (131,000,000).
Divided into 5f),•)6! ~,!19,c.5 of 600 f. (11;20) each.
I.)eposit on application Li ppr share, and Lion allotment.
The Italian Government guarantees a minimum interest
of six per cent .on the capital, slid also a sinking fund to
Provide for its redemption.
DIRECT'JRS IN ITALY.
The Marquis de Cavour, Member of the Chamber of Depu-
ties.
The Count Oldofledi, Senator (formerly Governor of
Bologna).
11. Farina, Regent of the Bank of Milan.
3D° Vince:nz(6(formerly Minister of Public Works at
Naples).
M. G. De Fernex, Banker, Turin
M. Laurent, Banker, Parma.
DIRECTORS IN ENGLAND.
G. G. Macpherson, Esq. Chairman of the Agra and United
Service Bank,
restock It. Reid, Esq., Director of the Oriental Bank Cor-
poration.
Eames Dir:kgob, Esq. (Lennox, Nephew, and Co.), 16, Old
Broad-srreet.
Lient.-0,-Jlonel W. Campbell Onslow, Director of
Mw:tras Irrigation and Canal Company. the
Wrr, 'Walter Cargill, Es
C q., Director of the Eastern Bengal
:IF.ilway Company. G. Mansel, Esq., Director of the Agra and United Ser-
vice Bank.
P. D. Hadow, Esq., Deßity-Chairman of the Peninsular
'and Oriental Steam Navigaticn Company.
P. Surtees, Esq., Chalcott House, Kingston, SurreY.
J, P. Brown Wesfhead, Esq., M.P.,
the London and - beputy-Chairman of
North-Western Railway Company.
'LINKERS IN 1-4()Nuox—Messrs. Masterton, Peters, and
M Co., 35, Nicholas-lane.
ANKEEs IN ITALY—Messrs. Charles De Fernex and Co.,
SOLICITORS Turin.
—Messrs. Rixon and Son, 38, Cannon-street.
13K°R.Rits- -Messrs. Foster and Braithwaite, 68, Old
Broad-street.
JOINT ENGINEERS.
Monsr. Chas. Nod, Turin.
•
J. Abernethy, Esq., M.I.C.E. London.
ir
e4lr2orary Offices, 16, Gresham-house, Old Broad-street
SECRETARY, pro tem.—Leicester'Dayly, Esq.

„„, OBJECTS OF THE COMPANY.—The object of this
'uorepany is to carry into effect the valuable and highly re-
munerative concession which has been granted by the Irks
4n Government for the construction of Irrigation Works
41 Northern Italy.
, So great has been the reputation. and success of works of
Irrigation in Italy, that they have been regarded as models
of scientific coLstruction. by the engineers appointed by the
Government of India to devise and execute the extensive
Plans for the irrigation of that country.
From the earliest ages the artificial irrigation of land in.
'Warm climates has furnished one of the most safe and profit-
able investments of capital. In India the application of this
tYsteru has yielded a revenue of from 30 to 100 per cent. on
the cost of S ',,onstruction ; in the royal domains of Aranjuez,
and i.' Pain, it has increased the produce of the soil ten-fold ;
t has given to the plains of Lombardy their proverbial
renown for exhaustless fertility.
The district assigned to the operations of this Company
'comprehends some of the richest portions of the famous
riplain, extending from the foot of the Alps to the frontiers of
lorubardy, and justly celebrated ar, the garden of Europe.
'4 Company will immediately proceed to construct the
Great Irrigation Canal of Northern Italy, in coaformity
Wh'With the designs of the celebrated engineer Chevalier Noe,
,0 enjoys the highest reputation in Europe for hydraulic
Ten,orks, and wliose plans have, after careful examination,
approvrd of by Mr. Abernethy and accepted by the
Italian Gowrnment.
A ecl) The •Muin Canal, 52 miles long, 80 feet wide, and 20 feet
..,4, will commence at Chiavasso, ten miles north of Turin,
Hass V
tr ,rough the rich districts of the Vercellais and the
1 -an elm' e and terminate at the river Ticino, near Novara.
, - 9
4'4
Will derive an inexhaustible supply of water from the
/i:ver Po, which has been called the Nile of Italy, on ac-
tount of the rich alluvial matter brought down by its cur -
rent. It will irrigate more than 300,000 acres, and it its esti-
mated that the rental of the proprietors will
thereby be in-
creased by £840,000 per annum.
In order to obtain the great advantage of uniting under
°he management all the irrigation works of the district, an
the cession of the existing canals of the Dora Baltea and
Canal
Sesia, which will thus become tributary to the Grand
'4l4a' of the Po. The payment for these canals will be
Ilukie at deferred dates, and the amount is included in the
Lliaranteed capital.
OTT RANTEES OF THE ITALIAN GOVERN-
Or:aT.The Government guarantees a minimum interest
i, six per cent. per annum on the entire capital to be ex-
pended in the purchase or construction of the canals, the
preliminary expenses, and the management and mainte-
nance of the Works of the Company, thus making its shares
-,:afe and ath.,antageous investment, independently of the
LA ge profits which may be anticipated from such important
W
The Ital”
4. „ ian Government also guarantees the repayment
~.13' Lae capital through the operation of a sinking fund. The
"edenicaion of the shares will take place annually by lot,
this great advantage to the shareholders, that, after
having received back their capital in full, they will temain
participators in all profits exceeding 6 per cent. during the
remaining term of the concessio.n.
The provisional concession was signed by the Ministers
of Agriculture and Commerce, and of Finance, on the 15th
Ultimo, and the Government has engaged to procure for this
Company all the necessary powers which require the con-
tent of the Legislatur.
:EXPENDITURE.— cost of the works will be frayedde-
by the share capital of the Company, and by bonds
maned under the authority of the Government, with interest
NaC!'llaranteed, Every bond will be stamped by the Govein-
nt, and the interest of 6 per cent, will be paid at the
tional Treasury.
irt,,yrevisional contracts have been made with the sanction
2approbation of the Italian Government for the execu-
G,ey_ll cf all the works by experienced contractors, who are
.ared to deposit ample caution money for the fulfilment
their engagements.
heI'ROFITS.—The directors desire to avoid holding out
ggerated estimates of the large profits to be derived
from
their irrigation works, in addition to the guaranteed interest
~i)f 6 per cent. ; but the official returns in their possession,
;Weil have been prepared with the most:scrupulous accu-
-4cY, and which may be seen at the offices of the Company,
illatify them in anticipating profits fully equal to those
~wilieb. have been obtained under the most favourable cir-
7Tastances in Italy and other countries. In making these
calculations, there can be no bettor Tkiewing statement eu place in our OWE. Eastern guide than what has
Empire, as exhibited in the
°cl :
n ' JITMNA CANALS, NORTH-WESTERN PROVINCES.—
nVerlThleHt returns show that the value of the crops saved
)men ne year by the water supplied by these canals, whose
sg-th. is 445 *miles, was £1,462,800. In 1853 the Court
If Directors sanctioned an expenditure of £15,276 on the
Zaatern Jumna Canal, which in one year yielded a clear
::fofit to the government of £9,769, besides enormously in-
,,,,"reaing the value of the crops, and thus benefitting the
"uttivators to a far larger amount.
~_ ``NORTH-WESTERN PROVINCES.—In these provinces
,_ expenditure of £557,000 was found sufficient to construct
works irrigating 1,300,000 acres, and thus obtain a produce
14 W 60 tho,ooo souls annulue of £2,500,000, supporting a population
,4 Gs EAT GANGES CANAL, NORTH-WESTERN. PR0k.,11'12,5.--Colonel
k.,11'12,s.--Colonel Baird Smith, the director of this canal,
bf: 'll 'course of construction, estimates that it will be cora-
-,.)--‘,c,cl for 12,000,000, and that it will raise the annual value
111 Lue crops it will irrigate to £7,000,000, and the gain to
9 cultivators will exceed £3,000,000 per annum."
HExtract from Report by Lieut.-Colonel C. B. Young,
eisting chief engineer, Lower Provinces of Bengal, dated
,h May, 1858 :
the
Whatever the results of different calculations may be,
Jere can be no question, I believe, that canals as irrigation
Acrks are remnnerative in India,
whether the profits be 50
cent, and upwards, as Col. Cotton rates them, or, accor-
;g to the more moderate estimates of Lieut.-Colonel Baird
o„kith, about 24 per cent., or, according to the experience
47 the canals in the North-West Provinces, 12 to 16 pet
.W., it is equally the result in all cases; I believe that
3'll•c-psy, richly to both Government and to the people the
ko
~,..1"-ey expended on them."
t° the 6 per cent. interest on the shares allotted in England,
ttß'ether with all dividends out of profits, will be paid half-
ilay, at 25 francs exchange, by the Company's bankers in
I,__The works which the Company has undertaken have
-veil urgently demanded by the whole population. The
Undertaking is received with the greatest favour in Italy ;
20,000 shares. are reserved for that country, leaving 30,000
for nn
"'liar-tient in England.
1.
_APlAications in the annexed form may be made to the
--Vud-ert Directors at the Company's offices, or to the
Jare,kers of the Company in London.
A copy of the concession may be seen at the offices of the
Company.
Loudon, April 4, 1862.

T FORM OF APPLICATION POE SHARES.
° the London Directors of the Italian Irrigation Canal
Company.
t Gentlemen —Having paid to your bankers the sum of
44adreis of
fah , I'hereby request that you will allot me
£.20 each in the Italian Irrigation Canal Company,
114 • hereby agree to accept the said shares, or any smaller
raber that may be allotted to me upon the terms of the
bta4tat,-Ja, to be approved by the Italian Government, and to
gaytho further deposit of Li per share upon the shares
aZ°tt.od to me at such time and in such manner as you may
PPoult.

I am, Gentlemen,
Name in full ........
Address in full ..
~ Date ........

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