The Sun.
London, England, 1870-04-05 00:00:00

Messrs. J. S. MORGAN and Co. OFFER for PUBLIC
SUBSCRIPTION the above BONDS at the price of £lBO
per Bond of VOO, payable by Instalments as under:—.
£5 per cent. on Application.
£l5 „ „ Allotment.
£2O „ „ 1C th May.
£25 ~. „ 10th June.

£25 ;; ;; 11th July.

£9O per cent.
Allottees may pay the full amount in advance upon Allot-
ment, or on either of the above dates, and upon such pay-
ments discount at the rate of .5 per cent. per annum will be
allowed.

The Bonds will be to bearer for £2OO sterling or 1,000
dollars each, with interest Coupons attached. Both princi-
pal and interest will be payable, at the option of the holders,
in gold in New York, or in sterling iu London, free from
all Federal or State Taxes.

The Bonds will carry interest at the rate of 7 per cent. per
annum, from the Ist of April, 1810; half yearly on Ist Oc-
tober and Ist April in each year, payable at the option of
the holders, as under :--

In New York, 35 dollars in gold, at the National Bank of
Commerce ;
In London, £7 ss. sterling, at the Counting-house of
Messrs. J. S. Morgan and Co.
A Sinking Fund of 55,000 dollars in gold, or £ll,OOO
(being 11 per cent.), will be applied, together with the inte-
rest on the Bonds redeemed, to the reimbursement of tbis
loan at par within 30 years, by annual drawings, in the
month of November in each year, the first drawing to take
place in November, 1873. The Bonds drawn will be paid
on Ist April next following each drawing, either in gold in
New York, or in sterling in London, at the option of the
holder.

The Bonds now offered are issued by the Illinois and St.
Louis Bridge Company, incorporated by Acts of the States
of Missouri and Illinois, and consolidated by an Act of the
Congress of the United States, 20th July, 1868. They are a
first charge, under a Mortgage duly registered, upon the
entire property, franchises, and charter privileges of the
Company.

By. the special Act of the Congress of the United States,
the Bridge and its approaches are declared to be a national
post road, thus placing the affairs of the Company directly
under the control and jurisdiction of the Supreme Court of
the nation. The same Act makes the principal and interest of
these Bonds payable in gold coin legal and imperative, this
being the only instance in which Congress has provided for
the payment in gold of Bonds issued by a private corporation.
The object of the company is the connexion, by means of
a permanent Bridge, of the railway system of the south-
west of the United tates, which centres in the city of St.
Louis, on the west side of the Mississippi River, with the
important lines on the east side of that river. By this means
the present uncertain and unsatisfactory transfer of passen-
gers and traffic by means of a Ferry (now frequently inter-
fered with, and at times totally suspended for several
days) will be avoided, and an -uninterrupted communica-
tion between the railroads on the east and west sides of the
river secured.

The Bridge Company have the exclusive right to bridge
the river at St. Louis for 25' years, during which period no
other Bridge can be erected within a river line of eight
miles.

The construction of the Bridge, which is designed also to
accommodate ordinary road traffic, is being actively pro-
ceeded with; the piers of solid masonry, founded on the
rock, have been successfully built ; and a contract has been
entered into with the Keystone Bridge Company at Pitts-
burgh (the Company by whom most of the large Railway
Bridges in the United States have been built) for the
superstructure, which will consist of steel and wrought
iron throughout, resting upon the piers of solid masonry
before mentioned.

The Contractors assume all risk of manufacture and erec-
tion, and are under agreement to complete the Bridge ready
for traffic by the Ist December, 1871.
Six Railway Companies having their termini at St. Louis
(including the two lines owned or controlled by the Penn-
sylvania Railroad, forming part of its system for through
traffic between the Atlantic and Pacific seaboard) have
already ratified contracts binding themselves to pass their
entire traffic over the Bridge at fixed rates of tolls in per-
petuity.
At the time the construction of the Bridge was determined
on in 1868, data were obtained from the books of the three
Railway Companies whose lines at that time reached East
St. Louis, and it then appeared that in the year 1867 the
tonnage to and from East St. Louis, based upon the tolls
which the Bridge Company is authorised to levy, and which
it may be mentioned are very considerably in reduction of
the Ferry charges, would have yielded to the Bridge a re-
venue of 768,683 dollars. •
Since then, such has been the rapid development of tho
country tributary to St. Louie, that it has been necessary to
construct the additional lines eastward ; while on the west
side the railway mileage has more than doubled, It is safe
to estimate that the revenue of the Bridge from the lines
which have already contracted to use it cannot be less than
1,000,000 dollars per annum, which must increase at a
rapid rate.
The requirement of the Bonded Debt
will be 5335,000
Interest 5280,000
Sinking Fund 55,000

- $335,000

The amount already paid up upon the Share Capital, in
addition to the proceeds of the sale of the above Bonds, will
be amply sufficient for completing the Bridge and its ap-
proaches ; but, as an additional guarantee, there is an uncalled
Capital of 1,800,000 dollars, and a reserve of Shares amount-
ing to 1,000,000 dollars.
Upon the unpaid Capital a call has been made of 600,000
dollars to provide for the payment of interest during con-
struction.

Applications for Allotments must bo made in the annexed
form, but no application will be entertained unless accom-
panied by a deposit of £5 per cent. on the nominal amount of
the Bonds applied for.
In case default is made in payment on allotment, or of any
of the instalments on the days named, the allotment will be
liable to be cancelled, and the amounts then already paid
forfeited. In cases in which no allotment is made the amount
deposited will be returned to the applicant, without deduc-
tion. Upon payment of tho allotment money, Scrip Certi-
ficates to bearer will be issued to the Subscribers, which
will be exchanged for the definitive Bonds as soon as pos
sible after payment of the whole amount of the sub-
scription.
22, Old Broad-street, Ist April, 1870.

No
FIRST MORTGAGE SEVEN PER CENT. BONDS OF
THE ILLINOIS AND ST. LOUIS BRIDGE COM-
PANY.

FORM OF APPLICATION.
To Messrs. J. S. Morgan and Co.

Gentlemen,—Having paid to you the sum of .£
I hereby request that you will allot me £2od
(1,000 dole.) Bonds of the above-named Company, and I
hereby agree to accept such Bonds, or any smaller num-
ber that may be allotted to me, and to pay the further
sums due thereon according to the terms of the Prospectus
issued by you.

I am, Gentlemen,
Your obedient Servant,
Signature
Address in full
Date , 1870