The Sun.
London, England, 1857-06-10 00:00:00

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Donations in stores are received and acknowledged.
The following have been received :
A life boat, from Messrs. White of Cowes.
A large quantity of preserved potatoes, from Messrs. King,
late Edwards.
Three travelling tents, from Messrs. Windsor and Newton.
A stove, from Mr. nettle.
Subscriptions received at Messrs. Coutts and Co., Strand;
Messrs. Cocks, Biddulph, and Co , 43, Charing-cross ; Messrs.
Glynn, Mills, and Co., 67, Lombard-street; at the offices of
the Royal Society, Burlington House, Piccadilly, and Royal
Geographical Soaiety, 15, Whitehall-place,

THE OTTOMAN RAILWAY from SMYRNA
to AIDIN.

Capital 1,200,000/.
Divided into 60,000 Shares of 201., or 2,500 piastres each.
A minimum dividend of 61. per cet. per annum guaranteed
by the Sublime Porte.
Deposit 11. per share. Calls of not more than each, at
intervals of not less than three months. No liability what-
ever incurred beyond the amount actually paid on deposit
and on calls as raade.
Shares to bearer.

DIRECTORS.
CuAmu/I.—Sir MACDONALD STEPHENSON, 115, Glou-
cester-terrace, Hyde-park.
DEPUTY-CllAlßMAN.—Captain DANIEL WARREN, 17, Por-
cliester-terrace North, Hyde-park.
Philip B. Blyth, Esq., 53. Wimpole-street, Cavendish-square.
William Gordon Thompson, Esq., 83, Gloucester-terrace,
Hyde-park.
Eric Carrington Smith, Esq., 1, Lombard-street.
Major-General Tremenhere, 33, Somerset-street, Portman-
square.

SOLICITORS.—Messrs. Rixon, Son, and Anton.
ENGINEER.—Georgo Meredith, Esq., M.I.C.E.
BANKERS IN LONDON.—Messrs. Smith, Payne, and Smiths,
Lombard-street.
BANKERS IN Totem-- Messrs. Hanson and Co., Smyrna
and Constantinople.
SECRETARY. —J. L. Elkin, Esq.
SIIAREBROKERS. —Messrs. Mullens, Marshall, and Daniell,
S, Lombard-street.
OFFICIAL AUDITOR--Henry Lloyd Morgan, Esq.
Offices-38, Cannon-street, E.G.
PROSPECTUS.
Tli!s Railway, about 70 miles in length, will connect
Smyrna, the most important seaport in the Levant, with
Guzel Hissar or Aidin, the great entrepot of the internal trade
of Asia Minor. It will bring the two places within three
hours of each other, instead of four days as at present.
Smyrna contains a population of 160,000, possesses one of
the finest harbours in the world, and takes the highest rank
among the trading ports of the Mediterranean.
The aggregate value of her imports and exports in 1856,
taken from the most reliable sources of information, amounted
to 5,000,0001. sterling, and the tonnage inwards and out-
wards to 869,380 tons.
The extraordinary fertility and resources of Asia Minor
maintain Smyrna in her position as a trading emporium, not-
withstanding all the disadvantages she has had to contend
with from the total absence of even the most ordinary roads,
and which has from time immemorial rendered imperative
the exclusive use of camels and mules. When the goods are
packed at Aidin, the deterioration now caused, particularly
in delicate products, by the frequent lading and unlading
consequent upon the nightly rest of the camels, will be
a-voided. The loss of damage arising from tho death of
animals and from numerous other casualties, which frequently
occur during the conveyance from Aidiu to the port of ship-
ment, Smyrna, wiil all be obviated by the proposed Railway.
The physical features of the neighbourhood of Smyrna,
which is surrounded by mountains, force the traffic along two
principal routes—one to the north, skirting the sea coast,
and leading, by a circuitous path, to Magnesia and Cassaba,
and from thence to the northern and north eastern parts of
Asia Minor—the second to the south-east, opening upon the
celebrated province of Aidin. The varied elexations of this
part of the country, the genial temperature of the climate,
and the alluvial nature of the soil, enable it to grow produce
of all kinds from the rarest to the coarsest qualities. Tobacco,
the fig, the vine, the olive, the poppy, the cotton plant and
mulbery tree are indigenous products, whilst wheat, maize,
barley, beans, flax, hemp, and a variety of pulse and oleagin-
ous seeds are raised in large quantities. Valonia, yellow-
berries, wool, goat's hair, dyestuffs, drugs, skins, honey,
wax, tire., likewise abound.
Guzel Hissor, more, commonly called Aidin, is a thriving
city, having about 60,000 inhabitants, and is the point of
concourse for persons from all parts of the interior, who re-
sort to that market for the disposal of produce in small par-
cels to the resident dealers trading with Smyrna, and for the
purchase of foreign goods.
According to a low average of the various estimates made
by a Special Commissioner sent out for the purpose, whose
report has been confirmed by all the principal resident mer-
chants of Smyrna, the goods traffic from Aidin to Smyrna
employs 10,000 camels and 500 mules, at the cost of over
400,000/. per annum. Independent of the 10,000 camels
which are constantly employed to carry the traffic between
Smyrna and Aidin, there are at least 20,000 employed on va-
rious routes in conveying produce from the interior to the sea.
When this Railway is completed to Aidin the traffic conveyed
by at least 10,000 of these 20,000 camels will come to the line,
thus at once considerably increasing the existing amount of
traffic between the two places.
It is evident, from the above data, that the present goods
traffic will give a dividend of 12 per cent. per annum, after
deducting one-half of the receipts for working expenses, and
the division of profits with Government over 7 per cent.
With regard to passenger traffic, no accurate estimate can
be at present formed. Looking, however, to the result of the
opening of the Railways in Egypt and India, and to the ab-
sence of any passport system, a large revenue is certain to
be derived from this source,
The Turkish Government guarantees a minimum dividend
of 6 per cent, per annum on the expenditure not exceeding
1,200,0001., and contractors of eminence and responsibility
have offered to undertake the constructinn of the Railway
with ample rolling stock within this amount ; but the pre-
sent extraordinary traffic along the route it will traverse, un-
equalled by that of any railway ever offered to the public, is
the best guarantee of its success,
The Turkish Government, by the terms of the concession,
reserve 15,000 shares, or 300,0001., for local subscription.
The applications for these shares, headed by his Imperial Ma.
jesty the Sultan, the Grand Vizi,r, and several influential
capitalists of Constantinople, have considerably exceeded this
*mount.
The concession, which has been granted and confirmed by
an Imperial firman, accords. the most valuable privileges.
The following is au outline of the principal clauses ;-
1. It is perpetual, subject to the right of purchase by the
Ottoman Government upon agreed and equitable terms at the
end of 50, 75, 95, and every subsequent 20 years.
2. A guarantee of dividend of 6 per cent, per annum as
above mentioned for 50 years. The line to be opened in sec-
tions, and the guarantee to come into operation as each sec-
tion is opened. The profits over 7 per cent, to be divided
with Government.
3. All Government land and materials to bo taken and
made use of by the Company gratuitously.
4. All the materials for constructing, working, and renew-
ing the Railway to be imported duty free.
5. The power of working all coal mines within 30 miles of
any part of the line, on payment of a fixed royalty.
6. The privilege of erecting warehouses with a Custom-
house attached on the Company's premises at Smyrna.
7. The engagement of Government not to grant a conces-
sion to any competing line,
8. T e unrestricted power of management.
Tho Directors having a duo regard to the present unfavour-
able time for launching a new undertaking, have deferred,
and would still defer, bringing forward the enterprise were it
not that the conditions of the Imperial firman limit the date
at which operations must be commenced. They have, how-
ever, determined that the first section of the line only shall
receive their immediate attention, so as to obviate the neces-
sity of making heavy calls during the existing stringency of
the money market.
The Concessionaries who have deposited at their own risk
the caution money, amounting to 24,0001., and who have also
engineering, travelling, and other defrayed all tile exp uses since the first negotiations were
opened with the Porte, including the co-t of deta led plans,
asgurreveeytos'accept for their interest in the conces-
-1 preliminary expenses, 3i per cent. upon the
ex-
penses,sseiocnti, o
anns
have
aafvnoedr a l
capital, which they will take iu shares or otherwise as may be
deemed most advisable for the interests of the Company ; and
they have also, to show their confiOence in the undertaking,
subscribed to the capital of the Company to the extent of
90,0001, in addition.
The first and most important section of 46 miles from
Smyrna, which it is calculated will yield a most satisfactory
return upon the outlay, may be opened in time to bring down
the produce of the harvest of 1858.
Carefully prepared plans, sections, and estimates of the cost
of the line, show that the capital on which the guarantee is
given is sufficient for its entire construction, the supply of
rolling stock, and the erection of stations, warehouses, and
water-side premises.
Interest at the rate of 6 per cent. per annum will be allowed
on payments either for, or in anticipation of, calls during the
construction of the line. Provision for this item of expenditure
has been made in estimating the required capital at 1,200,000/.
upon which the guarantee of the Turkish Government has
been secured.
dLeopmebs !sot r
ebeet
.adaddressedh
et os
eMe
reestsarrsy.
ol‘flulthleensc aorandpany,
338,
Applications for shares, with the bankers' receipt for the
Co., ,
Cannon-street, City, where forms can he ohtained.