The Sun.
London, England, 1868-05-20 00:00:00

ISSUE of FURTHER CAPITAL for the COMPLETION
of WORKS CONSTRUC TED under a CONTRACT,
whereby the GOVERNMENT of INDIA have AGREED
to PAY for ALL WATER SUPPLIED for IRRIGA-
TION, forming a GUARANTEE AGAINST LOSS by
NON-PAYMENT of WATER RATES, such WORKS
having also COMMENCED to YIELD RETURNS.

T. EAST INDIA IRRIGATION AND
CANAL COMPANY.
Incorporated 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.
" THE ORISSA UNDERTAKING."
Second issue of capital of X 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 is full or to any extent in ad-
vance of calls.

•
DIRLCIORs.
JAMES THOJSON, Esq., Chairman.
Lieut.-Colonel John Grimes, late of the H.E.I.C.S.
The Hon. Arthur Kinnaird, M.P.
Lieut.-Colonel Wm. Campbell Onslow, late of the Mysore
Commission.
General Sir George Pollock, G.C.8., G.C.5.1., &c. &c.

SECRETARY.
John Westwood, E.

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.
As they are now planned, and being constructed, the
canals will, when completed according to the estimates of
many engineers most competent to judge, including Colonel
Rundall and the present chief engineer of the Company,
convey water for the Irrigation of about 700,000 acres.
Adopting a temporary rate of charge for irrigation, and
estimating the returns from navigation at the very mode-
rate total of three per cent. upon the outlay (the present
chief engineer has jest reported that he estimates the re-
turns Upon the Tidal Canal will be at least ten per cent.),
and -allowing the highchargo of five, per cent. for repairs,
main teuad ce, establish Ment,' ezoe the net returns from the'
sectioils 66w. 01. v ,comooted Would ba altogether twelve
by the: re-establishment of the original
rate of five rupees per acre' for irrigation, would be made
• up to twenty-one per cent_not.,
These are figures the accuracy of which can be easily
demonstrated, and any inquiry made regarding them at,
the Company's offices will he at once replied to, and every
information given.
The prospect of an immediate and extensive spread of
irrigation, and therefore of a satisfactory increase upon
the existing returns, is highly encouraging. By reports
received on the 3d of the present month, and dated the
30th March, it appears that there had then been signed,
connected with the Kendrapara Canal alone, leases (prin-
cipally for 3 years) for about 26,000 acres ; that applica-
tions from cultivators of land under the same canal were
being received at the rate of from 2,000 to 5,000 acres
daily ; and that the natives were cutting the smaller
channels necessary to convey the water to their fields
with earnestness ; further, that in the vicinity of the high
level canal meetings were being held by the Zomin-
dars, and other unmistakable signs exhibited that
the same favourable state off affairs there as
that connected with the Kendrapara Canal was
a mere matter of a short time, and that before the coming
inregvious for construction portion of that canal
h
season large demands will be made for water. Upon the
Midnapore Canal the effect of the reduction of the water-
rate, &c., had not, at the end of March, been thoroughly
ascertained,ad
because
been
purposes, and had then only been reopened, but the chief
and th
engineer of the Company executive engineer in
charge reported that applications for water, in addition to
closed for some the
the 4,000 acres supplied last year,
had commenced and
were confidently expected to bo added to largely.
The works already constructed have now entered upon
their stage of revenue, and they offer to capitalists not only
irtrimigeat
p
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 baud 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.
There is also another feature of great importance, which
must not be omitted in the consideration of the fitness of
this undertaking, for an investment. By the contract it is
expressly provided that the Company shall be paid for the
water supplied for irrigation
to the cultivators—not by the
cultivators themselves—but by the Government of India;
and that the price to be so paid by the Government to the
Company for such water shall be, the price charged to the
cultivators, and shall be fixed so as to represent a fair
charge for the water to the parties using it. With refe-
rence to this stipulation, it has been azknowledged 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. The value of the foregoing arrangement
can hardly be too highly prized, forming as it does a cer-
tain and safe guarantee of payment for every portion of
the water supplied for irrigation.
It has been determined by the Directors to limit, at any
rate for the present, the expenditure 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 ; at the same time they are enabled by the Act of In-
corporation to issue the required capital partly in shares
of £lO each, and partly in stock divisible into sums vary-
ing from £lO upwards —a plan which will suit the con-
venience of those who desire to limit their liability to
a fixed sum at once, and to be relieved from future
calls, and also those who
may prefer to pay the amount
of capital held by them by easy instalments in the shape
of calls.
Applications for Shares and Stock may now be made by
filling up and forwarding either of the accompanying Forms
to the Company's Offices, 8 and 9
au Queen-street-place, South-
wark-bridge, London, E•• (where Prospectus and
Forms of Application may be uu had); but it is necessary
that it should be understood that no application will be
considered unless a deposit of on each share, or of ton
pounds per cent. upon the amount of stock applied for,
has been made either to the Bankers of the Company,
Messrs. Ransom, Bouverie, and Co., No. 1, Pall Mall East,
or at the Offices of the C'onapatty, The Deposit will be
returned without deduction if the application is not ac-
ceded to.

FAISANS, PERDRIX, ET VOLAILLE.
A LA NOBLESSE FRANcAISE.
JAMES CHAMBERLIN, POST•OFFICE-STREET,
Norwich, Angleterre, fournit le Spanish Meal qui a
ete employe avec le plus grand succes pour elever et
nourrir les faisans, les perdrix, &c. &c.
M. J. CHAMBERLIN vient de recevoir la lettre suivante
relative It son Spanish Meal pour elever les Faisans, de M.
le Vicomte de la Panouse, Inspecteur general des Forets
de la Couronne de Sa Majeste Imperial° Napoleon 11.
Administration generale des Domaines et
Forets de la Couronne, Compiegne.
L'lnspecteur des Forets de la Couronne it la residence
de Compiegne soussigne, certifie avoir employe it la nour-
riture des Faisandeaux le Spanish Meal provenant de la
Maison James Chamberlin de Norwich, et en avoir obtenu
les meilleurs resultats.
Les Faisandeaux et les Faisans mangent tres bien
cette substance. Elle les rend tres forts et leur chair est
tres bonne.

Veuillez agrder, Monsieur,
L'assurance de ma considdration distingu6e,
Vte. A de la PANOUSE,
La Noblesse et les Brands Propridtaires sur le Continent,
au recu des trois timbres de 40c. peuvent avoir franc° un
livre contenant les ddtails relatifs l la nourriture des
oiseaux ci-dessus mentionnes, avec trois cents certificats,
les prix, &c. &c. L'addresser i►
Mons. JAMES CHAMBERLIN,
Post-office-street, Norwich, Angleterro.