The Sun.
London, England, 1870-06-20 00:00:00

PRICE OF. ISSUE, SS PER CENT.

Messrs. C. DE MURRIETA and Co. are authorised by Senor
Don Luis L. Dominguez, the Special Commissioner duly
empowered by, the Government of the State or Province of
Buenos Ayres, to receive applications for the above Loan on the
following conditions :-
1, The Loan will be represented by Bonds to Bearer for £lOO,
£5OO, and £l,OOO each, with Coupons for Interest, at 6 per cent.
per annum, attached, payable half-yearly in London, at the
Counting-house of Messrs. C. de Murrieta and Co., on Ist April
and lst October of each year. The first half-yearly Coupon will
be payable on Ist April, 1871.
2. A Sinking Fund of 1 per cent on the principal sum of
£1,034.700 will be applied annually, together with' the Interest
on the Bonds paid off, to the reimbursement by Annual Drawings
of the Loan at par. The first Drawing will take place so that
the payment off of the Bonds will commence on Ist October,
1871. The Government reserves to itself the right to increase
the amount of the Sinking Fund, available to the redemption of
the Loan at par.
3. The Price of Issue is 88 per cent., payable
6 per cent. on application ;
15 „ on allotment
15 -„- _on.the 3rd. August, 1870.:
15 „ on the let October, 1870 (less 10s., allowance
for Interest on Instal-
' meats, less English In-
come tax).
18 „ on the 15th November, 1870 ;
20 „ on the 30th December, 1870.

£BB

4. An allowance of £lO per £lOO nominal (being equivalent to
interest at the rate of 6 per cent. per annum) on the instalments
from the date of payment to the let October, will be made
and deducted from the instalment falling due on that day.
The instalments may be anticipated on any of the dates fixed
for their payments, under discount, at the rate of 4 per cent.
per annum, with allowance of interest as above, which, in that
case, will be deducted at the time of payment in full.
Scrip Certificates to Bearer will be issued against Allotment
Letters, and will be exchanged for Bonds to Bearer, as early as
possible after payment of all the instalments.
The Bonds will be signed by the Government Commissioner,
under special powers granted to him for that purpose, and
countersigned by Messrs. C. de Murrieta and Co., as agents for
the Loan.
The General Bond, specifying the conditions of the Loan,
executed by the Government Commissioner, Senor Don Luis L.
Dominguez, will be deposited, together with the original Powers
granted to the Commissioner, at the Bank of England. A copy
of the General Bond is appended.
Applications must be made in the annexed form, accompanied
by a deposit of £5 per cent., to be paid to Messrs. Martin and
Co., Bankers, 68, Lombard-street. E.G., 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 above, the allotment will be
liable to be cancelled, and the sums then already paid to be
forfeited. -
In case no allotment is made, the money deposited will be
returned to the applicant without deduction.
The Subscription List will be opened in London by Messrs. C.
de Murrieta and Co.' on Monday, the 20th, and will be closed on
or before Thursday, 23rd Tune.
Adam's Court, Old Broad-street, London,
20th Tune, 1870.

MEMORANDUM FURNISHED BY THE GOVERNMENT
COMMISSIONER.
Buenos Ayres, as is well known, is, by its geographical position,
its wealth and population, the principal of the fourteen Provinces
or States which form the Argentine Republic.
The Customs and other imposts of the Republic amounted in
1869 to £2,587,077, of which five-sixths were produed by the
Province of Buenos Ayres.
The flourishing City of Buenos Ayres, which is at once the
Capital of the Province and of the Republic, has a population of
200,000 inhabitants, busily occupied in the export and import
business, the value of which in 1868 was about £13,000,000.
The Province possesses a Government Bank (the net profits of
which last year amounted to £200,000), and an enormous extent
of landed property.
It is furnished with three Main Lines of Railway, all con-
verging on its Capital City, and feeding it with the materials
(hides, wool, jerked beef, grease, bones, &c., dm.) which form its
export trade.
One of these railways, "The Western Railway," belongs to the
Government. At present it is finished only to the extent of 160
kilometers, and a portion of the proceeds of the loan is destined
to its extension. In its present incomplete state it yields a
net income exceeding 7 per cent. per annum. "The Great
Southern of Buenos Ayres Railway," belonging to an English
Company, has freed itself entirely from the Government gua-
rantee of 7 per cent. under which it started, and yieids a hand-
some return to the shareholders, whilst the " Northern Rail-
way" has now also a remunerative traffic.
The proceeds of this Loan will be applied exclusively to works
of public industry.
The Province of Buenos Ayres (whilst yet an independent
State) contracted in 1824 a loan in London of £1,000,000, and in
1857 issued bonds representing deferred Interest. There was
also an internal debt of about £400,000. These debts (which
were all the public debts of the State of Buenos Ayres) were
adopted by the Argentine Republic on the establishment of the
National Government, so that at this time the Province is not
burthened with any public debt beyond an amount (including
the present loan) of £1,061,225.
The revenues of the Province arise from a direct tax on
houses and land, stamp duties, leases of public lands, duties on
salting establishments, &c., &c. The duties voted annually by
the Legislative Body are calculated so as to, meet precisely the
requirements of the Administration, and thus a balance of the
receipts and expenditure of the Province is maintained. This
expenditure has recently, and during the Paraguayan war,
included considerable sums spent in public works, including an
outlay in England in connection therewith, during the last eight
years, of upwards of half a million of pounds sterling.

BUENOS AYRES SIX PERBO CENT. STATE LOAN
FOR £1,034.700 STERLING.

FORM OF APPLICATION.
!ci be retained by Messrs. Martin and Co., the Bankers.)

To Messrs. C. DE MIIRRIETA and Co., London.
Gentlemen,
Having paid for your account with Messrs. Martin
and Co. the sum of Z.... • I hereby request that you will
allot me nominal amount of the above Loan,
and I hereby agree to accept the same, or any smaller amount
that may be allotted to me, and to paylthe further sums due on
such allotment, according to the terms of the Prospectus issued
by you.

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

.

BUENOS AYRES SIX P870.E CENT. STATE LOAN
1R
FOR £1,034,700 STERLING.

RECEIPT FOR DEPOSIT.
(To be retained by the Applicant.)
Received for account of Messrs. C. de Murrieta and Co. the
sum of £..........., being the deposit required on an appli-
cation for an allotmor ent oessrs Z.. . • . •
Martin and .. .. of the above Loan.
F M. Co.