The Sun.
London, England, 1870-12-03 00:00:00

THE DIRECTORS AND OFFICERS OF THE

BEDFORD AND NORTHAMPTON RAILWAY,
(Direct Line from London to Northampton, via Bedford
and the Midland Railway), are
DIRECTORS. _ _

• • nili
Colonel W. B. Higgins, Picts' , Bedford, Chairman.
Albert Ricardo, Esq., Raymead, near Maidenhead, Deputy

Chairman.
J. Algernon Bastard, Esq., 59, Cado'an-place, London,
Colonel J. Amber Cole, 116, Pall Mall, London.
Joseph Palmer, Esq., Olney, Bucks. •

ENGINEER.
Charles Liddell, Esq., 24, Abingdon-street, Westminster.
SOLICITOR.

Charles Morgan, Esq., 15, 01C1:-Iv-ii Chambers, E.C., London.

AUDITORS.

ilenry W. Notman, Esq„ Secretary of the Great Southern o
India Railway.
Samuel Price, Esq., 70, Cheapside, B.C.

BROKERS.
Messrs. J. and A. Serimgeour, 18, Old Broad-street, E.C.
BANKERS.
Messrs. Robarts, Lubbock, and Co., No. 15, Lombard-street
London.
The Northamptonshire Union Bank, Northampton.

SECRETARY.
Howard Lancaster, Esq.
Offices,— 2, Westminster Londoners,hamb. Victoria-street, B, W,

The Bedford and Northampton Railway—coloured red on
the accompanying Plan—is incorporated under Acts of Parlia-
ment of 1865-6-7 and 1870.
The Line is twenty miles in length, and is a continuation of
the Midland Railway from Bedford to Northampton, thus com-
pleting a direct route from London to this important district
by the Midland Railway.
The rising importance of Northampton (which contains at
present a population of not less than 50,000 inhabitants), its
admirable position, and numerous manufactories, have ren-
dered it essential that a new, direct, and rapid communication
should exist between that town and the metropolis.
When the Bedford and Northampton Railway is open, the
Midland Railway Company will be enabled to extend their system
direct to Northampton, via Bedford, Turvey, and Olney, instead
of by the present circuitous route through Oakley, Sharnbrook,
Wellingboro', Ashby, and Billing.
The Railway is being constructed as a double line, and, in
accordance with the clause of the Act of Parliament, in all
respects equal to the Leicester and Hitchin Railway, which is
leased by the Midland Railway Company.
The works are in course of execution by Messrs. Edwin Clark,
Punchard, and Co., the eminent contractors, under the inspec-
tion of the engineers of the Midland Railway Company, and
are in a very advanced state, and by the terms of the contract
they are to be completed by the 31st August next, and the
entire construction of the line within the COMPany's capital is
absolutely guaranteed.
By special agreements, which are appended to and ratified by
the Acts of Parliament of this Company, the Midland Railway
Company undertake, on completion of the Bedford and North.
ampton Railway, to maintain, manage, stock, and work the
line at 50 per gent. of the divisible receipts ; such divisible
receipts being taken in the accounts between the two Com-
panies at the minimum rate of £3O a week for every mile in
length, thereby yielding to the Bedford and Northampton
Railway Company a net minimum revenue of £15,600 per
annum.
It also forms part of the agreements between the two Com-
panies that the Midland Railway Company gllall have the
option of amalgamating with or leasing in perpetuity the Bed-
ford and Northampton Railway, provided such option -he exer,
cised within five years after the completion and opening of the
line, on condition of the Midland Railway .c °Wally paying to
the Bedford and Northampton Railway Company a guaranteed
perpetual net yearly rent equal to £5 per cent. per annum on
their total outlay on capital account.
The traffic on the Bedford and Northampton Railway—
forming, as it will, a link of the great system of the Midland
Railway—must be very large.
The amount riee,essary to ensure the punctual payment of
the Interest on the Preferred Shares now for subscription is
as follows :

Interest on £130,000 Debenturgs and £3,000 Rent
Charges„ . „ ,
Preferred Shares-20,000 Half 'Shares, .gp each,
—£200,000 at 5 per cent..

£
5,350

15,350

The Midland Railway receipts average £Bl per mile per week
on the whole of its system of 826 miles; and there is every
reason for believing this line will be equal to the average pf
most of the Midland system ; but, taking the traffic at only
£5O per mile per week, this would give the Company a net
receipt of £26,000 per annum ; and as, irrespective of the
amount of traffic, the Midland Company guarantee absolutely
a minimum net income of £15,600 per annum, it follows that
the interest on the Preferred Shares now offered is absolutely
secured.
On the above estimate of traffic, however—after paying the
Interest on the Debenture; and Rent Charges, and also Interest
on the Preferred Shares now for Subscription—there would be
a surplus income of £10,650; so that both from the guarantee
of the Midland Railway, as well as from the anticipated traffic,
the Preferred Shares form a most eligible investment.
To shew the advantageous price at which the Preferred
Shares are now offered it is only necessary to furnish the two
following quotations
The shares of the Leicester and Hitchin Railway, with a
guarantee by the Midland Railway of 4 per cent., are quoted
at £92 per £lOO, which is equal to £ll5 at 5 per cent.
The shares of the Bedford and Northampton Railway, now
offered at £92 10s. per £lOO, bear 5 per cent. interest, and are
consequently 22i per cent, less in price, although, in effect, an
equal security, as, by agreement with the Midland Railway
Company, the Bedford and Northampton Railway is to be
assimilated in the character and solidity of its works to the
Leicester and Hitchin Railway.
The 5 per cent. Preference Shares of the Midland Railway
Company, from whom the Bedford and Northampton Railway
will receive its guaranteed revenue, are at £llO par Cent., so
that the shares now offered are 17i par cent. lower in 'price
than those.
Immediately the Line is complete the SuNcribers will
undoubtedly possess a security of an increased value of at
least 20 per cent, ; the due and punctual payment of the
interest in the interval being secured by the investment in
Consols, of the amount necessary for the sense in the names of
W. C. CURTIS, Esq., Lombard-street, London,
(Messrs. Roberandts, Lubbock, and Ce., l3agkers),

Colonel W. B. HIGGINS, Picts' Hill, Bedford,
(Chairman of the Bedford and Northampton
,Railway Company),
who have consented to act as Trustees for the preference share-
holders.
To trustees and capitalists the security now offered presents
an unusually advantageous inyestment.
London, 2nd December, 1870.

SUBSCRIPTION FOR 20,000 FIVE PER cut PREFERRED
SHARES OF £lO EACH,
In 2,000 Certificates of ao Shares, equal to £lOO Stock each
Certificate, of the
BEDFORD AND NORTHAMPTON RAILWAY.
Price of Issue, £92 108. per Certificate of WO, equal to £9 ss.
per Share, yielding to the Investor £5 Bs. par cent. per annum
Interest.

FORM OF APPLICATION,
To be Retained by the Bankers.

To Messrs. J. and A. Scrimpour, 18, Old Broad-street, London.
GENTLEMEN,—Having paid to Messrs. B.obarts, Lubbock, and
Co., Bankers, the sum of Pounds, being
£lO per Certificate on my application for Certiti-

AIR. T. C. KING will appear in the character of
VARNEY, in the new Drama, entitled AMY ROBSART,
THIS EVENING, Dec. 3.—THEATRE ROYAL DRURY-LANE.

DH 0 BUS'S FIX, in which the celebrated
VOKES FAMILY will appear at Seven o'clock THIS
EVENING, peg• q.—T] F4p.E 40yAL DRURY. LANE.

AMY ROBSART ; a new ffistorical Rpmantic
Drama, written by Andrew Halliday ; WOO on Sir
Walter Scott's celebrated novel " Kenilworth," with new and
characteristic scenery by William Beverly, at a Quarter to Eight
o'clock THIS EVENING, Dec. 3—THEATRE ROYAL DRURY-
LANE.

AMY ROBSART ; new drama : Characters by
Miss NEILSON, Misses Fanny Addison, Jesse Vokes,
Kemp, J. Mortin, and- Rosina Vokes, at a Quarter to Eight
o'clock THIS EVENING, pep. S,—THEATRE ROYAL DRURY-
/ANL

AMY ROJNIVRT, New prama, characters by
Messrs. T. C. Morton, Tavares, J. B. Howard,
Brittain Wright, F. Moreland; F. Charlei, J, Neville, Fawden,
Vokes, F. Stanforth, H. Naylor, aid Fred. Yokes, THIS EVEN-
ING, P. ;.—THEATRE ROY4J p4u*k-pt.NE.

AMY ROBSA.B,T; New Prams, The Overtire 4,nd
Incidental Music selected 4ns conweind by W. P. LeYeY,
executed by an increased Orchestra and innnerPilp Olorus.
The Ballet and Grouping of Crowds arranged' by Mr, John Ow-
nack. The whole produced under the direction of Mr. Edward
;titling at a Quarter to Eight THIS EVENING. Dec. B.
RINATRE ROYAL, DRURY-LANE.

ADOMESTIC HERCULES, New Farce, by
Martin Becher, at Eleven o'clock THIS EVENING, Dec, 3,
—THEATRE ROYAL DRURY-LANE.

A DELPHI THEATRE ROYAL.—SoIe Pro-
prietor, Mr. BENJAMIN WEBSTER. Managers, Mr. B.
NEBSTER and Mr. F. B. CHATTERTON.—THIS EVENING, at 7,
THE GREEN BUSHES, OR ONE HUNDRED YEARS AGO.
Miami, Madame Celeste, Mrs. Alfred Mellon, Mrs. Billington,
Mr. BilliTlgton, Mr. Ashley, Mr. John Rouse, Mr. C. H.
Stephenson, Mr, p, Sonnet, &c. To conclude with THE
MILLINER'S HOARMY: 4F? lohll Eggso and Miss Emma
Barnett,

T. JAMES'S T HEAT R E.—LAssee and
Manageress, Mrs. JOHN WOOD.—This Evening at 7.45 great
play, FERNANDE, Messrs. Farren, Leeson, Lin Rayne, Murray,
and L. Brough ; Mrs. Hermann Vezin, Miss Larkin, Miss Fannie
6rough, Miss Turner, and Mrs. John Wood.—Doors open at 6.30.
At 7, TA 01AIGE BENSON, by Toni Taylor, Esq. Messrs.
Harry Cpg, grainer, 4tervin ; Misses Marian Inch and H.
Everard, At 745, BERNANP. 4t 10.30, CHRISTMAS EVE,
by 0, 8. Cheltnman, Esq. hairy ADT, pon Leeson, and
Brouffh,—lipx-cdrice 11 tq Q. ..N.QIOP#.

ORAL STAND THEATRE.
Sole Lessee and Manageress, Mrs. SWANBOBOU OH.
This Evening, at 7, ON AND OFF, LIVINCi AT gASE.
Messrs. Crouch, Turner ; Mesdames Ada Swanbormigh,
E. Bufton, and F. Hughes. The New Hurly-Burly-Esque,
"THE IDLE 'PRENTICE." Mean:. Terry, Paulton, Fenton,
and Turner ; Mesdames Amy Sheridan, E. Billten, SentleY,
Lee, Goodall, &c.

VAUDEVILLE THEATRE, STRAND.—
Lessees— Messrs. H. J. Montague, D. James, and T. Thorne.
THIS EVENING, at 7, TWO ROSES (157th night), by James
Albery. After which, at 9.30, ELIZAI3I4II ; or, The Don, the
Duck, tke Drake, and the Invisible Arindda. A grand, new,
original, ai)d profoundly historical_ Burlesque, by 0. Buy.
nand, Esq. Conclude with CHISELLING. SuPpoited by
Messrs. H. J. Montague, David James. H. Irving, George
Honey, W. H. Stephens, and Thornas Thorne, dcg. ; Mesdames
Nelly Power, A. Newton, Iletty Tracy, R. EVelyn, t Lavis,
and Amy Favrsitt„ &c. Doprq open 6.30 commence at 7.