The Sun.
London, England, 1868-05-29 00:00:00

ISSUE of FURTHER CAPITAL for the COMPLETION
of WORKS CONSTRUC TED under a CONTRACT,
whet eby the GOVERNMENT of INDIA have AGREED
to PAY for ALL WATER SUPPLIED for IRRIGA-
TION, forming a GUARANTLE AGAINST LOSS by
NON-PAYMENT of WATER RATES, such WORKS
having also COSIMENCED to YIELD RETURNS.
THE EAST INDIA IRRIGATION AND
CANAL COMPANY.
Incorporatdd by Special Act of Parliament, whereby the
liability of each shareholder is limited to the amount
payable upOn his shares, or the amount of his stock.
SCHEME OF OPERATIONS.
."TRE ORISSA. 'UNDERTAKING." • '
Second issue of capital of £1,000,000, to consist of shares
of £lO each, and stock in sums varying from £lO each up-
wards.
Deposit upon shares £1 per share, with liberty to pay up
the remaining £9 or a less amount in advance of calls.
Deposit upon stock £lO per cent. upon application, and
the remainder within three months after allotment.
Interest at five per cent. will be paid half-yearly upon all
deposits from the Ist July next, and upon all payments (in
advance of calls and in payment of stock) made before that
day, from the same time, and from the day of payment if
made after that time.
In the allotment of shares a preference will be given to
those who shall have paid in full or to any extent in ad-
vance of calls.
For list of Directors see full advertisement.
ABRIDGED PROSPECTUS.

The circumstances under which subscriptions are now
invited by this Company, to a further issue of capital, aro
peculiarly favourable for investors, and present the
strongest evidence of the sound and profitable character of
the undertaking, to complete which an additional outlay
is required.
The works already constructed have now entered upon
their stage of revenue, and they offer to capitalists not only
a safe investment, but one which will, most assuredly, be
very profitable ere long; and here it may be added, as
confirmatory of this almost immediate prospect, that the
portions of the works now in hand remaining to be exe-
cuted, consisting mainly of channels for the distribution of
the water, will necessarily be the easiest of construction, as
well as the most productive, and will add materially to the
percentage of returns on the whole outlay.
By the contract it is expressly provided that the Com-
pany shall be paid for the water supplied for irrigation
to the cultivators--not by the cultivators themselves
—but by the Government of India. With reference
to this stipulation, it has been a.;knowledged by the
Government that they alone are liable in respect to the
non-payment for water supplied, so that the Company are
released from all fear of liability to loss of any portion of
their water-rate. :I:ie valuuof the foregoing arrangement
can hardly boloO highly prized, forming as it does a cer-
tain and safe guarantee of payment for every portion of
the water supplied for irrigati„,:
It lies been determined by the Directors to limit, at any
rate for the present, the expindituto to about £130,000
per annum, whereby they will be enabled to make all fu-
ture calls small in amount and at regular stated periods,
not exceeding on the whole £2 per share during each
year.
Applications for Shares and Stock may now be made to
the Company's Offices, 8 and 9, Queeu-straet-place, South-
wark-bridge, London, E.C. (where a full Prospctus and
Forms of Application may be had); but it is necissary
that it should be understo )(I that no application will be
considered unless a deposit of £1 on each share, or of ten
pounds per cent. upon the amount of stock applied for,
has been made either to the Bankers of the Company,
Messrs. Ransom, B
"vorie, and Co., No. 1, Pall Mall East,
or at the Offices of the Company." Tho Deposit will be
returned without deduction if the application is not ac-
ceded to.