The Sun.
London, England, 1857-05-15 00:00:00

THE COMMERCIAL RAILWAY of RUSSIA.
RIGA. TO DUNABURG.
CIRCULAR.
The Directors, having now completed their negotiations
With the Russian Government for the above Railway, have
Mu pleasure in laying before the Shareholders the follow-
ing particulars of their arrangements, together with the prin-
cipal features of the Imperial Concession of 1853, which was
confirmed, with additional advantages, by his Imperial Ma-
jesty, on the 26th February, 1817: -
A fixed Capital of 10,200,000 silver roubles, or about
1,636,250/. sterling, over which, the Company has the abso-
lute control, and of the expenditure of which they are not re-
quired to give any account to the Russian Government.
The fixed Capital has been changed in consequence of the
length of the line having been reduced, and several important
modifications having been allowed by the Russian Govern-
A Concession for a period of 75 years, dating from the open-
ing of the whole Line, during which the Russian Government
hasreserved no right to purchase the Line.
A guarantee, by the Russian Government, of 4. per 'cent.,
• for interest and sinking fund. A sinking fund of one-eighth
per cent, is sufficient to redeem the capital in 75 years.
This calculation has been verified, together with all others
of importance, by an eminent accountant.
The line has been most carefully surveyed by John Hawk-
Esq.., the engineer-in-chief. It is of very easy construe-
.l..lou—there being no tunnels, deep cuttings, nor high era-
'!•tikments--ferr bridges, and those offering no engineering nffileulties, The whole line is almost upon a level, the maxi-
ra
tun gradient being lin 200, sloping gradually from Diina-
berg to Riga •; thus greatly economising the cost of con-
l'eying the produce from the interior.
A. contract for the construction of the lailway and the
41Ph* of the whole of the rolling stock and material, has,
wit the a royal of the eneineer-inhief, been entered into
With p.l)
-c
115 an eminent English contractor, with ample security for,
'lnc Performance.
eThe total sum required for the construction of the Railway
tluding all moneys to be paid to the contractor, the ex-
i_ me Cost of the land, the interest on calls during construe-
", and the prelimin try and all other expenses of manage-
Meat, dm. whatsoever, have been carefully estimated at the
manage-
" eat,
of 1,343,000/.,sterling, thus showing an excess of fixed
-aPital over expenditure of 293,2501., the benefit of which
ezcess will be obtained by the Shareholders by the redemp-
tion of their shares at par.
The amount of the guarantee on the fixed capital of
:;636260/. (after deducting the one-eighth per cent, for the
44king fund) is 71,586/, per annum, which, upon the above
estimate, gives 51 er cent. per annum for interest on the
%Pita]. (I,343,oool.)pactually required, and still, le fives a con-
elderable margin for unforeseen contingencies.
cal am
3, the statutes the shares will be reduced from their origi-
qaeount of 100/, to 201., or 125 silver rubles, 500 francs,
guilders, or 139 thalers of Prussia, each. In cense-
gnce of the reduction in the guaranteed capital, and the
e of the shares being limited to 81,600, four shares only
90/, each will be exchanged for each 1007. share.
11 these shares of 20/. only 161. 10s. will be required to
eup the above estimated expenditure of 1,343,000/ ;
kid the guaranteed interest of 17s 6d,per share, exclusive
h
Of
the
sinking fund, is equal to 5i .per cent, this amount.
The shares will be redeemable at the par of 201. out of the
sinking fund by periodical drawings, It is proposed, on the
completion of the line, to issue separate
coupons in series,
One available for 10 years each.
of these coupons will re-
present the guaranteed interest, and the other the dividends
the en the extra profits of the line. The former will expire on
redemption of the share at par ; but the latter will con-
tinue in force daring the period for which it may have been
rued,
t. A num for intereA during construction bag been ineuded
'7 the Russian Government in the fixed capital and 5 per
coe„,n,t• Per annum will therefore be paid on all calls until the
ning of the whole line.
e shareholders will enjoy, during the whole period of the
isi-alleee8101) the entire profits, which, upon a most careful
elation based upon the existing traffic, show a rate of 15
ealst
1,44 Railway will connect with Riga the three capitals—St.
tlteersburg Moscow, nd Warsaw The line runs for nearly
hielv hole 'distance through a district, the cultivation of
am, would bear comparison with that of any other country;
deobnclPeridently of the through trade, there can be no
that the local traffic, both in goods and passengers,
the iiAilj °nreni an important and increasing item in the receipts of
.A.s•
.
„ instance of last year's traffic, it would have required
ahitrains of 35 waggons each per day, for the whole
flea season (say Rix months), to have brought down the
tray Leh
last season from Riga. Nor will the pro-
trar;( Lib au line injure these prospects ; but, on the con-
hrim,'„meting as a feeder from Koursk and Orel, it would
Petel,lle produce of these provinces (hitherto shipped at St.
lip "tirg) to Diinaberg ; a fair share of which would natu-
thet,e' fn for shipment to the important port of Riga, saving
A
101 l
11,tahneeeaxrplyen1s0e0. miles of carriage.
free 'revfn lands are given for the purposes o:the-Railway,
hickAl
Prlvate lands required may be taken at the low tariff at
Ali Aerial Government acquires private land.
be taken Inaterlm ial, such as stone, gravel, sand, clay, dic,, may
All rail
free from the Crown lands.
kill, rails, locomotive. and whatsoever is required for the
%Leal' may be imported, duty free, from any country.
Direct' the above estimates' and calculations were made, the
that ti°l's have received the highly satisfactory intelligence
th;.. comp eunicipality of Riga has placed at the disposal of
city banY, gratuitously, whatever land belonging to the
hew be required for this railway. This land in the town
lilted' 14 the suburbs and on the line of the road, is calcu-
ai:(l444o:.atit about 56 verlts, or about 37 miles ; and this valuable
mated en will effect a considerable reduction in the esti-
c?st of the land.
coders, in conclusion, congratulate the shareholders
ebtaienietxceediugly favourable tebims they have succeeded
it)iti a
iig beyond those originally contemplated, and sub-
hose pet VnarY of the principal advantages gained beyond
1, Trth in the original prospectus.
Incdia ,nue having been shortened, and many important
hi cations all creases e owed, a smaller capital is required, which
, 2, The 'tne amount of the dividends.
75 Year
Ina
which B,rndlaZfn the concession has been extended from 56
g from the opening of the whole line, dui..
3. A 4. tiime the entire t rofits belong to the Company.
half • 14`'ing f
gist und of one-eighth per cent., instead of one-
Thnufficient to redeem the capital. mro,• • - ait
sinPality of Reinag4 gra.nt o. f all the land belonging to the
th ecessary t which is requisite for the railway..
...diliz,kitaiuoconahatl au eof the amount of the shares being re-
it! number limited by the statutes to 81,600,
entima 4us• per share (i.e. 16/ 10s instead of 161.)
' obe called up to Meet the estimates • but,
be-
Asti! ceeirt.arnte.e.d interest on the fixed capital is equal' to 51
the 16/. inristne estimated capital, the extra 1 per cent, on
8: which., equivalent to'ls per cent, on the additional
Tn. ofa-„,„,4r exceeds the terms originally offe,e. d.
an documents and letters, together with the cal
41`arehoid utt estimates, are open to the inspection of any Noy. holder,
anent s application at the offices of the Com-
. A call
attired
o•fea,:tl to 1/. on each 201, share, will be shortly re-
' Watch due notice will be given.
, Order of the Board.
4, %le J. WAARE TYNDALE, Secretary,
echureh-street, May 8, 1857. '
TEtt
'*oßti,
aunt published FIRMITIES OF 'YOUTH AND MATURITY.
' Price is., post tree, in an Envelope, for 13 stamps,
era 'on the -I-RESERVATION. —A Medical Treatise
Irocn the • unclinns and Disorders of the Generative System,
to '2l viock, cure. of Ne-volts and Physical Debility, resulttng
tch ‘0,7 flt!bits Acquired during the critical passage from youth
1,17 e in it. ;:!,111, Practical observations on the Physiology or Mar-
41`.1,!?trIts , moral, and physical re'ations. To which are added
~,,"frilprider- of the Microscope in revealing the hidden
,otcpziaextma,raviinttinneuilFroeiuricsaTe.,,,isfgree,' and it advantages id detecting, by
aavind effect of every variety of these
..;,11,eineilsieaseet
• and ewes.
..11.1 SAMUEL LA'MERT
3,, TIRDFoar, SQUARE, LONDON,.
ltatti
,loeilein
jaebi_
otriil,Jadonfptohnue:B,spci Universitytat 1. e d
cao of
sEedeti nebtr
Licentiate
Honoraryenuate
of
A_ ui `ergof th
ntial
Zeil'ees resultta this treatise is to point out the fearful con-
hog from certain habits, irregularities, and excesse".
ritoi
:hlEpeorpefnrrastui,creSkd7caor,e, misery in Youth, degradation in Man-
at ail stages of life, than, perhaps, ilnY
thti,cui,y
eominer
down to modern pathologists. Its perosal is
the oh,_ _ c
ndivon ed to per Fons entertaining secret doubt? or
aitie44llo:,chalppiners, alecinparivivhilotgaerset(o.°Zelichnsevoefryhahvulmnganhbazeianrgdeisd
It is
IZl.,,t,iiip,l,.„.""_upteclrBonremciesmsaprny,,tletmateal: men should know that there are
sane,:
fd.w, when
wisdom and
nviolated
regret
eked t;:rtlitg grievous penaigaes
how those penalties
blay b1.3%.,47daY of incousiderate
"Thille,„„—,,tigated, bow the sting of theirubTecreness may he removed,
'hat th 'ee evil and its consequences may be avoided, and, above all,
4eraii;ereiB Scarce! any degree of ph3f.sic,l infirmity or functional
ay Pubirneut to Whichy timely aid.o science cannot apply a cure,
he'hiieadd• 211, Paternoster. row, and
1,1 3:111, C2O, ulh! Horne, 19, Leicester-square ;
Ite"Uted daiirtfirom ?enliall-street .or from the Author, who may tys
and from 6 till 8, at his residence, 37,
ea4ie Work 44, pn•
oire
cur_ behad in India, of M. Von Lazky, Loll Bazaar ;
N Water Oftlce!' and J. Ilormusjec, Apollo-street; Bombay-
- otoo
eylona Madras—Mcfassilite Office ; Agra—Dodsworth ; , and of all Book,sellersthroughout the colonles.