The Sun.
London, England, 1851-11-17 00:00:00

Moorgate-street, City,

This Company was established in France in May, 1350, under the
French law of" Commandite,” by which the liabili y of each share•
holder is limited to the amount of his shares, and these shares being
paid up in full on allotment, and being to bearer (au porteur), are
not subject to any call or registration, and no deed has to be signed.
According to this law (commandite) the allure of the Company
are conducted by the Gerant, under the advice of the Comite de
Surveillance in Paris ; the Commission of Supervision in London
will, however, have the supervision of the alLirs of the Company
in England and California, and an Agent charged with lull
powers of the Gerant will represent the Company in London. -
Shares to the amount of 46,0001. have been already issued, and
the amount of capital raised thereby has been applied to the pur-
chase of leases of the mineral property proposed to be worked by the
Company, and in payment of the expenses incurred in the establish-
ment of the Company in France and California.
The capital to be raised from the remaining portion of the shires
will be applieil t t purchasing and sending out the necessary ma-
chinery, with an efficient staff of miners, artisans, and competent
agents, skilled is th various proce,ses adapted for the extraction of
gold ; to the working of the mines, and to the payment of,all charges
and expenses incurred in England and France.
The proceeds of the mines, after deduction of all expenses incurred,
will be livided rateably among the sh ,reholders, and the dividends
will be payable in Paris and London.
The leases and contracts of the mines are deposited with Messrs.
Valiance and Valiance, the English solicitors of the Company.
Subseque .t tongs the Company purchased the lease Baldwin's
Mine, and t o other leases which were granted by Colonel Fremont.
Baldwin's Mine is upon the great Mariposa quartz ve n, which has
been found so 1 trg,ly productive. The specimens from Baldwin's
Mine are extremely rich, and may be seen at the offices of the Com-
pany.
Toe grants to the Company are for twenty•one years, with clauses
for a renewal for a further term of twenty-one years, under a roya ty
of one-sixth of the gold produced;- and the superficies of au,iferous
land secured by them comprises an extent seven times greater than
that possessed by any other company.
These grads are exempt from royalty during a period of eighteen
months, from August, 1851, or until the profits from the mines shall
have reimbursed the Company 17,0001. of their outlay in machinery
and works.
E, elusive of these Mining setts, there are also 500 acres of other
land, principal' forest, the tuaber upon which will secure to the
Company an ahundance of material for budding, fuel for steam en-
gines, and other mining purposes.
In addition to these valuaele grants, the Company has secured a
contract for a lea e ,roin Colonel Fremont of ten acres of land,
upon which it is intended to erect works for the extraction of gold.
This lease is for a term of forty-two years, upon conditions highly
favouraele to the company ; and it is intended to erect steam•
e glues of sufficient power, with machinery of the most approved
construction, for crushing, grinding, and amalgamating quartz ores.
These wi I be employed not only In the extraction of gold from ores
raised from the mines leased by Colonel Fremont, but will also be
employed in the reduction of the quartz ores raised in the samund-
ing districts.
This branch of business is a distinguishing feature in the in-
tended operations of the Company, as, independent of all other
considerations, a large revenue will be readily obtainable in Cali •
fornia from such a source. This view is confirmed in a letter
from Colonel Fremont to Arr. Hoffman, dated 15th May, 1851, he
which he deplores the inefficiency of the machinery hitherto em-
ployed.
It is gratifying to the Commission of Supervision to state that they
have secured the valuable services and co-operation of the Hon. Mr.
Hodinan, as legal adviser on American law ; and they have seen
desired by that gentleman to state, that in the present instance
only can he consent to act in connexion with any company of this
nature.
The advantages, peculiar to this company may thus be briefly enu-
merated:-
1. That the shares are to bearer, no registration is necessary, and
no deed has to be signed.
2. That the 2ornpany possesses a lease of a located mine, the
produce of which is verified by the report of Captain Jackson.
3. That the Company possesses a tract of auriferous territory seven
times greater than that possessed by any other Company in Europe or
America.
4. That the terms of the leases of the mining setts are for 21 years,
with clauses for renewal for 21 years.
Lastly. That the Company has an additional lease for 42 years
of lands for the erection of works for the extraction of gold.
Applications for shares may he made at the Company's offices ; or
to the Brokers of the Company, on or before the 20th inst., after
which no applications will be received.