The Sun.
London, England, 1870-12-14 00:00:00

SCHWEPPB'S BOTTLES
Are protected by a Label having
Name and 'Trade Mark.
Manufactories at London, Liverpool, Derby, Bristol, Glasgow
and Malvern.

SOLICITORS.
Messrs. Ashurst, Morris and Co., 9, Old .Jewry, E.C.
BROKERS.
Messrs. 'Walker and Lumsden, 25, Austin Friars, B.C.
SECRETARY..
4hll FolllBtOn Hunt, Esq.
OFFICES.
36, Parliament-street.

PROSPECTUS.
The object of this Company is to acquire and work as oue con-
solidated undertaking two separate Metropolitan Tr/11119110,
incorporated under special Acta of Parliament passed in the
two last sessions, viz., those of-
1. The Metropolitan Street Tramways Cioupany (tho first
Company which obtained an Act for Tramways in

Ideation):
2. The Pimlico, Peckham, and Greenwich Street Tramways
Catipany.
The Two Tramway Corppanies before mentioned are, by their
present Acts, empowered to construct and work Tr tmways in
nearly all the main thoroughfares on the south side, and extending
to Victoria Station, Pimlico, on tho north side of the Thames,
comprising 25 miles of street, partly single, but principally
double lines, making altogether about 45i miles of Tramways.
The accompanying map shows the authorised, Tramways•
marked red, from which it will be seen that they traverse very
populous districts and are important, not only as local, but also
as trunk lines.
The Metropolitan Company has constructed and opened ftcr
traffic the lines from Brixton and Clapham to near the south
end of Westminster Bridge,. by direct cash outlay, and these
lines are, by the terms of the Amalgtunation Agreement, to be
made over to this Company by the exchange of the Shares of the
Metropolitan Company for Shares in this Company at par.
The Pimlico Company engages to hand over their portion of
tho lines completed to this Company in sections free of all ex-
penses, risks, or contingencies, at the same mileage cost as that
of the Metropolitan Company. Tho total estimated out-
lay on all the authorised lines on this basis, including equip-
ment,wll! b 0 provided by the share capital of £250,000 and ar

ltended issue of debontares £70,000, fraying an tuiiplo margi

for working capital.
Tho first section of the Greenwich line, viz., from Blackheath
11111 to New Cross„ has been opened for traffic, and the continua-
ticn of that line to East Greenwich is under construction, and
will be in operation by the end of the year (1870). By this and
the above arrangements, the capital will 'be remunerative as
soon as called up.
The returns from the working of the fragmentary portion of
the lines from Brixton to Kennington, which alone has been
opened for any length of time, have been audited by M.
Broom,. of the firm .ef Broom, hen, and Hays, public ac-
countants, and Mr. Tenaftn,.who are the auditors, and for the
Brat three months of the opening were found to yield a not
return at the rate of ton Der cent. per annum on the capital
expenditure. The subsequent results are equally satisfactory,
and the traffic is steadily increasing.
The only other experience of Tramway working in London is
the line which is now open between Viiiitechapel and Bow, and
the result, from the audited accounts, shows 12'per cent. net

profit. •
Street Tramways, althoug operation little known in this country,
have been in verys,
profitablp formally years in most
nf thef
Eu large cities of America
t. Pe and Canada, and also on tho Conti-
ent orope, in Stersburgh , Vienna, Brussels, Copen-
hagen, Sm., paying dividends generally of not less than 10 per
cont. on the Capital invested, and the shares command good
premiums. The Capital Account of most of the. American Com-
panies shows an expenditure per mile greatly exceeding that
required by this Company, and with the easy gradients in the
Metropolis (a most important item in the economy of working).
and by the judicious administration which experience has
breeaglit to hear, thera_cau_lai.no doubt that Tramways will
prove highly profitable here. By the improvements effected it
construction by using the groove rail, the objections previously
existingto the American Tramways have been removed.
Last Session the whole subject of Tramways was investigated
by Select Committees of both Houses of Parliament, and in the
result a General Act was passed under which local authorities
canpurchase Tramways in their district on a valuation (ex-
cluding goodwill) at the end of twenty ono years, but in the
case of the Companies above mentioned, this period is extended
to twenty-eight years, in consideration of their having been
as an equitable equivalent for these exceptional privileges, and
in consideration of these Companies transferring their interest
without goodwill, there is reserved to the original Shareholders
one-half of the surplus profits of the Company after payment
of a dividend of six per cent. per annum, so that the originators
of the scheme continue Interested in the undertaking, and are
remunerated according to its' success.
, Important extensions of the existing lines are being
I for, the benefit of which is made over to this Company. applied
I If no allotment be made the Deposita will be returned in

full.
The Acts of Incorporation and the Agreement for Amalga-
mation can be inspected tho Offices of the Solicitors of the
Company. The Agreement is dated the nth day of December,
1870, and the names of the parties to it are as follows :—The
Metropolitan Street Tramways Company and the Pimlico," Peck-
ham, and Greenwich StreetTramWays Company of the first part,
John Foulston liunt on behalf of this Company then intended
to be fogned of the second part, and certain Shareholders of
the Matto, Peekharn, and Greenwich Street TralllWaYS Com-
pany of the third part.
Application for Shares may be made to the Bankers. Pros-
pectuses with Forms of Application can be obtained of the
Brokers, and at the Offices of the Company.

A.D. 1720.
ROYAL EXCHANGE ASSURANCE
CORPORATION.
(Estalished by Charter of his Msjesty" George the First.)
For SEA, FIRE, LIFE, AND ANNUITIES.
Offices, ROYAL EXCHANGE, LONDON.
OMCO, 29, PALL MALT* S.W.

JAMES STEWART 1101
CHARLES JOHN MANNIN
FRANCIS ALEXANDER HAIIILI
DIREC

DGSON, Esq., Governor.
go, Esq., Sub-Governor
TON, Esq., Deputy-Governor.
TORS. • .
Robert Barclay, Esq• Egerton Hubbard, Esq.
John Garrett CattleY, Esq• Nevilo Lubbock, Esq.
Mark Currie Close, Esq. George Forbes Ai al colnison, Esq
Edward James Daniell, Esq. Lord Josceline William Percy.
William Davidson, Esq. Charles Robinson, Esq. Lancelot WillianiDe.nt, Esq. Sir Joint Rose.
Alexander Drum, IM7sq• SamuerLeo Schuster, Esq.
Fredk. Joseph Edlmann, Esq. Eric Carrington Smith, Esq.
Chas. Ifermann Goschen, Esq. William Wallace, Esq.
Riversdale Wm. Grenfell, Esq. Octavius Wigram, Esq.
Robert Amadeus Heath, Esq. Montagu C. Wilkinson, Esq.
Wilmot 'Tolland, Esq. Charles Baring Young, Esq.
.Medical Referee, BA EL SOLLY, Esq., F.B.S.
---

NOTICE—The usual fifteen days allowed for payment of
FIRE PREMIUMS falling due at Christmas will expire on the
9th of January.
FIRE ASSURANCES may be effected on advantageous terms.
FIRE DUTY.—This
ge for t'ax having been
INSURANCE abolished,S. the PREMIUM
is NOW the only char FIRE
FARMING STOCK.—No extra charge is made for the use of
Steam Thrashing-Machines.
LIFE ASSURANCES arc granted with, or without, participa-
tion in Profits ; in the latter case at reduced rates of Premium.
The divisions of Profit take place EVERY FIVE YEARS.
Any sum not exceeding £15,000 may be insured on one Life.
The Corporation bear the cost of Policy Stamps and Medical
Fees.
A Liboralparticipation in Profits, with tho guarantee of a large
invested Capital Stock, and exemption, under Royal Charter,
from the liabilities of partnership.
Tho advantages of modern practice, with the Security of nn
Office whose resources have been tested by the experience of a
CENTURY AND A-11Am
ROYAL EXeilA.Nafi, LONDON.
ROBERT P. STEELE, Secretary.

EIGHTEENTH ANNUAL WINTER EXHI-
BITION of CABINET PTCTURES by British and Foreign
Artists is now OPEN, at the FRENCH GALLERY, 120, Pall
Mall, from nine till half-past five o'clock. Admission, Is. Cata-
logues, ad.

_ . •
The Dublin Evening Mail announces the death of
Mr. Charles Shaw, Q.C., who was for a short time law
advisor to the Duke of Abercorn, when Lord-Lieutenant.
The armies investing Paris are in the midst of a whiter
campaign. The air is so cold that we shiver at night in
rooms where wood fires hare been blazing all day. Not
one green spot is to be seen in this most fertile land,
where the vine grows everywhere in luxuriant,abundance.
The leafless trees are like giant Appetres—every branch, is
stiff and hoary ; a thick 'snow covers every field, 'and road,
and housetop, and flakes are "descenilifig with steady
deterthination' that discountenances all hope of , milder
weather.—Times Correspondent.
The Lord Mayor of London has refused a request
made by Mr. Merriman and his friends to grant the
Guildhall for a public meeting on the war. Looking at
the requisition presented, his lordship remarked that he
a
did not see the name of single banker to it, nor of any
of the gentlemen in the City who usually took a conspi-
cuous part on great public occasions, nor.of any of the
magistrates of the City except one.
The Carlist newspapers announce that the Infante
Don Alfonso will marry Dona Maria das Neves, eldest
daughter of Don Miguel, the late King of Portugal. A
Papal dispensation will be abtained to set aside the bar of
consanguinity. Dong Maria is described as a princess of
' distinguished person, amiable character, and very superior
culture. Her husband will be her junior by about live
years.