The Sun.
London, England, 1865-07-14 00:00:00

SOLICITORS.

Messrs. Baxter, Rose, Norton, and Co.
Messrs. West and King.
BROKERS.
Messrs. P. Cazenove and Co.
Messrs. Seymour and Co.
SECRETARY (pro tem.).—Walter A. Michael, Esq.
Offices-60, Threadneedle-street.
The International Financial Society are authorised to
receive Subscriptions for the Share Capital of this Com-
pany, Which has been incorporated by Special Act of Par-
liament for the purpose of Utilising the Sewage of the
Northern Area of the Metropolis, the Concession of which
has been granted to Messrs. Napier and Hope.
The Concession from the Metropolitan Board of Works
to Messrs. Napier and Hope, as now confirmed by Act of
Parliament, is scheduled to the Act, and both may be in-
spected at the Offices of the Company.
The Concession has been vested in the Company on con-
dition of the payment to Messrs. Napier and Hope, under
the provisions of the Act, of £50,000 in fully paid-up
shares of the Company and a small contingent per-tentage
of the net profits.
' The Concession recites that in the opinion of the Board
the works proposed by Messrs. Napier and Hope are cal-
culated to effect the three following objects, namely
1. To divert the Sewage from the Thames.
2. To render it innocuous by its application to growing
crops.
3. To realise the great money value of the manure con-
tained in it.
The first article, confers upon Messrs. Napier and Hope
"the absolute and exclusive right to and property in the
asewage" for a period of 54 years from the passing of the
et, but makes the following provision in reference to the
pplication of the net profits resulting from the scheme
after the expiration of four years from the passing of the
Act. Previous to the expiration of that period all the
profit results to the Company.
After deduction of the annual charge for " money bor-
rowed," and of the "working and establishment expenses,,,
the net profit shall be applied—
share n payment of interest at 5 per cent. per annum on the
capital.
coln payment in equal moieties to the shareholders and
'nt e Metropolitan Board of the further prOfits up to 15 per
e.
2
..3. In division of profits exceeding 15 per cent. and tip to
to,ler cent. between the shareholders and the Metropolitan
th rdl in the proportion of one-fourth to the former, and
ree-fourths to the latter.
,t *-1-
After 25 per cent, the division again to become equal.
he (fleet of these stipulations is, that while the Metro-
politan Board are virtually to receive half the profits, yet, that, in order to give a greater security, and therefore
greater value to the shares, tho shareholders are to have a
Preference to the extent of 5
per cent., which is made good
to the Metropolitan Board between the points of 15 and 25
4Per cent., at which latter point each party receives 12 per
130 t., and the division is then continued equally. Thus,
heshare capital cacappiittaall,of the Company derives the advantage of
approaching three millions sterling, ex-
poded by the Board on the north side of the Thames, for
ne collection of the Sewage at the point of its delivery to
the Company.
on At the expiration of 34 years the Board have the right,
giving two years' notice, to require a revision by arbi-
tration of the above apportionment of profits.
The Concession stipulates for the construction of a circu-
lar brick culvert, 9 feet 6 inches in diameter, shown by the
red line on the accompang from the Yerthern Outfall Sewer to the East Coast of Essex, and ying map, and runnin
further, for the reclamation of the tract of foreshore and
sand, coloured pink on the map (about 7,000 acres),the in-
tention being to irrigate the lands in the district through
Which the culvert passes, and to utilise the surplus upon
the reclaimed land.
A contract has been entered into with Mr. Wm. Webster
(who has constructed more than one-third of the main
drainage work of the metropolis, including the Crossness
Outfall), for the construction of the work mentioned above,
together with the necessary pumping stations, for the sum
of £1,853,448. To this must be added the amount to be paid
to Messrs. Napier and Hope in shares, as before mentioned,
the cost of land, engineering, Parliamentary, and legal ex-
penses, superintendence, and management, together with
interest at 5 per cent. per annum on the capital during the
construction of the culvert estimated at a total of £546,552;
in all £2,400,000. The Act authorises the Directors to raise
the amount of £700,000 in debentures, but of this, as above
shown, only £300,000' will in all probability be required.
The Company have the right of taking, without any pay-
Ment, during the first four years, as much of the sewage as
they can. utilise. From this source an immediate return
may be obtained, so that the return upon capital during
construction should be much in excess of the interest pro-
vided.
payment on the 2d Oober next o f the £0 per Car-
!meats then due the Certificctates of £lOO will bel exchanged
for Registered Shares of £lO each.
According to the calculations made the eventual revenue
of the Company is estimated at about £720,000, and the
Worid)l expenses and management at £50,000.
Applications in the annexed form shouldbe left with the
unless
auk e r 8, who will not, however, receive any applications
the accompanied by a deposit of £2 per certificate on
number of certificates applied for. In cases where no
allotment is made the deposit will be returned in full, and
should a smaller number than is applied for be alloted the
balance returnable to the applicant will be applied towards
payment of the amount due on allotment. In cases where
an allotment is male the deposit paid on application will be
liable to forfeiture if the balance due on allotment be not
paid within the term fixed by the letter of allotment, and
the allotment will be liable to cancellation. Default by sub-
scribers in due payment of the £lO per scrip certificate, pay-
able on 2d October, 1865, will, in like manner, render the
scrip certificates subject to cancellation, and 'the amount
theretofore paid thereon to forfeiture.
Prospectus and Forms of Applications may be obtained
from the Bankers and Brokers, and at the Offices of the
Company, y No. GO, Threadneedle-street, E. 0., London.
METROPOLIS SEWAGE AND ESSEX REOLAMA-

TION COMPANY.
FORM OF APPLICATION FOR SHARES,
To be left with the Banks.

No.
To the Direetors of the Metropolis Sewage and Essex
Reclamation Company.
being a deposit of £2 per certificate on certificates, I
request you to allot to me certificates of £lOO each,
In the Metropolis Sewage and Essex Reclamation Corn-
htheereby
i)anY, in conformity with the Prospectus issued by the
uternationq Financial
.Society(Limited) ; and I
agr'ee to accept (subject in all respects to
terms of the said Prospectus), such certificates,
(t)it: any less number that may be allotted to me, and to pay
i,"° gum due on allotment thereof, at such time as may be
'led by the Letter of Allotment, and to pay the further
61-141 of .£lO per certificate on 2d October, 1865.
I am, Gentlemen, your obedient servant,
Signature
Name in full A
Address in full
Residence
Date--__

METROPOLIS SEWAGE AND ESSEX
RECLAMATION COMPANY.
f„NOTICE IS HEREBY GIVEN, That NO further
rPLICA.TIONS for SHARES in this Company will
RECEIVED after TUESDAY NEXT , th 3 18th inst.,
for Lon on, a nd WEDNESDAY, the 19th, for the Country
By Order.
WALTER A. MICHAEL, Secretary (pro tern).
CO, Threadneedle-street, Loudon, July 13, 1865.

IVINSLOW HALL, Winslow, Bucks,
.h.aving
the
ci been recently opened and fitted with requisites for
re and comfort of the INSANE, the proprietor, Dr.
11",_ISRAGON, announces that he has transferred his Estab-
,,,s!inent from Birmingham to the above desirable residence,
vnlY accessible, and distant from London about an hour
minutes fro a-half y the London and North-Western line, and fil ty
Oxford. tacho mansion, s on
prossaildY 80m ii, and commaAtndined g t
anthe extensive andtuated pleasing
group"ect, are garden, meadow, plantation, and recreation
• For terms and forms of admission address the ProPrietor.

OVEREND, GURNEY, and COMPANY
;Limited,.
(Incorporated under the Companies Act, 1862.)
Capital £5,000,000, in 100,000 Shares•of£sO each, of which
it is not intended to can up more than £l5 per Share.
Deposit on application, £2 per Share ; £5 per Share on
allotment; £4 per Share on the 15th September, and the
same on the 15th November.
DIRECTORS.
Henry Edmund Gurney, Esq., 65, Lombard-street.
John Henry Gurney, Esq., 9, St. James's-square, and Cat-
ten Han, Norwich.
Robert Birkbeck, Esq., 65, Lombard-street.
Henry Ford Barclay, Esq., Monkhams, Woodford, Essex.
Thomas A. Gibb, Esq. (Messrs. T. A. Gibb and Co.), 72,
Old Broad-street.
Harry G. Gordon, Esq., Chairman of the Oriental Bank
Corporation.
William Rennie, Esq. (Messrs. Cava; Lubbock, and Co.),
16, Leadenhall-street.

BANKERS.
The Bank of England.
Messrs. Barclay, Bevan, Tritton, Twells, and Co., 14,

Lorilbard-street.
BROKERS.

Messrs. Sheppard; Pelli,;LTilleard, 28, Threadneedle-

street.