The Sun.
London, England, 1866-12-22 00:00:00

PROSPECTUS.

The object of this Coutpany is to carry out the conces-
sions granted by the Municipal Council of Brussels, in con-
cert with the authorities of the province of Brabant and
the Belgian Government, for the drainage and coincident
improvements of the capital of Belgium.
The magnitude and value of these concessions will be
understood by the fact that they include subsidies to be
received by the Company in cash and Annuities, of the
value together of 26,000,000 f., or .C 1,040,000 sterling,
which have been voted by all the authorities and sanc-
tioned by the Crown.
Tho original estimates for the principal part of these
works were examined and verified by Mr. J. W. Bazslgetto,
Engineer-in-Chief to the Metropolitan Board of Works of
London, under the sanction of that body q and thesoo e.ti-
mates have been further tested by months of minute and
careful revision on the part of contractors and their respec-
tive engineers.
It is intended that the whole of the works shall be com-
pleted within four years.
The importance of the undertaking is evidenced in the
protracted official debates in the Brussels Municipal Coun-
cil, and also in the Belgian Chambers and Senate on the
subject, and by the special report thereon from Lord
Howard de Walden, her Majesty's Minister Plenipotentiary
at Brussels, transmitted by the Earl of Clarendon, through
Sir George Grey, to the Metropolitan Board of Works, in
London, and recorded in their Minutes under date of
May 18, 1866, an extract of which is annexed to the
Prospectus.
His Majesty the King of the Belgians has expressed his
desire to inaugurate the works by laying the first stone in
State ceremony, which is fixed to take place at Brussels on
Wednesday, the 22nd of January next.
It will be at once seen by this brief description of the
concession that it is one of no ordinary character.
The capital of the company is fixed at £350,000, in
35,000 shares of £lO each, divided into 25,000 A Prefer-
ence Shares and 10,000 B Deferred Shares.

The privileges attached to the respective share capital
are as follows :

The A Preference Shares are to be redeemed out of the
assets of the Company, by drawing by lot, and each share
paid off at £l5 per share, being a bonus of £5 per share ;
the drawings will take place on the following dates,
viz. :

....
On the 22nd January, 1870, G,250 shares, or £62,500,
77 1, 1871, 6,250 „ £62,500,
77 71 1872, 6,250 „ £62,500,
1873, 6,250 „ .£62,500,
77 77

Total shares 25,000 or .£250,000
Until so drawn and paid off, each share to bear interest
at the rate of 8 per cent. per annum, payable half-yearly, on
the Ist of January and Ist July in each year, for which
interest warrants will be attached to the shares.
Reckoning the redemption at the dates and at the bonus
named, the investment will pay subscribers a rate of in-
terest as follows :—those shares which are drawn, and
thus are

To be paid off on 22nd of January, 1870, will have re-
ceived a total interest and bonus of 241 per cent. per annum.
Those to be paid off on 22d January, 1871, will have re-
ceived a total interest and bonus of 201. per cent. per annum.
Those to be paid off on 22d January, 1872, will have re-
ceived a total interest and bonus of 18 per cent. per annum.
The Directors do not pledge themselves to make an
allotment to every applicant, nor to allot the whole of the
shares, it being their desire to place this small capital in
the hands of bona fide investors.

Those to be paid off on 22d January, 1873, will have re-
ceived a total interest and bonus of 16-1 per cent, per annum
The B Deferred Shares represent the Concessionaires'
interest in the Company. These shares will not be en-
titled either to payment of any interest or capital until the
whole of the Preference Shares have received their capital
back, with the interest and bonus before referred to ; there-
fore the Deferred Shares become practically and virtually
a guarantee to the Preference Shares.
Applications for shares may be made in the annexed
form, which must be accompanied by the payment of £2
per share deposit, without which no application will be
considered.

FORM OF APPLICATION FOR SHARES.
To be retained by the Bankers.
No.—
To the Directors of the Belgian Public Works Company
(Limited).
Gentlemen—Having paid to your Bankers, Messrs. Smith,
Payne, and Smiths, the sum of £ , being a deposit
of £2 per Share on A Preference Shares in the
above Company, I hereby request that you will allot me that
number, and I agree to accept such Shares, or any less
number you may allot to me on the terms of the Prospec-
tus, and I agree to pay the deposit on allotment, and to
sign the Memorandum and Articles of Association of the
Company, as duly registered, when required. And I au-
thorise you to insert my name on the register of members
of the shares allotted to me.
Usual Signature
Name in full
Residence
Profession...
Date December, 1866
The above is only a short extract from the detailed
Prospectus, which can bo had, with copy of the letter of
the British Minister in Brussels to Earl of Clarendon, on
application to the Secretary at the offices of the Company.