The Sun.
London, England, 1845-09-11 00:00:00

LYONS and AVIGNON ItAILIVAY
(COMPAGNIE SEBASTIAN!.)

REPORT TO TIIE ENGLISH SIHISCRIBEI?S.

GENTLEMEN,—We regret our not be7ng able to report that we have
succeeded in our efforts to obtain for you the objects of our Associa-
tion ; our best energies have been devoted to the subject, but from
the altered state of the circumstances which has now arisen, our
Company, as at present constituted, is not in a position to compete
for the Lease.
At the time our Company was formed, it was understood that the
Government would provide the land for the line and stations, and
possibly would undertake the earthworks. The capital we then
proposed (60 millions of francs), was considered sufficient to provide
all that the Company, under that state of circumstances, would have
required ; but after much doubt and delay, the Government have at
length determined that their lessees sheuli undertake the purchase of
the land, as well as the entire construction and working of the Rail-
way. The Bill has now passed the Chambers in that form, and has
fixed the Capital at 80 millions (irrespective of the Grenoble
Branch).
Having, as we interpret our engagement to the Subscr,ibers,
neither power to undertake on their behalf the purchase of hand, nor
adequate funds for that larger purpose, we are under the neceus,s,, th'a ove,
announcing the dissolution of the present Subscription, anti
iat we now
accordingly only further on this bead to inforinz
e °sui;bscri berg, and
hold the deposits subject to the order •f
ready to be immediately retunied in elcilahteigseefotrTthe letters of allot-
ment and banker's receipts.
We would now invite youred
t pted for the regulation of
aatnt,en.tiloon to the copy of the
statutes, which have been fram
nien. many
l
ou
a new Company for making and working the
will observe, that It is mainly under the same direction,
respects of the s:unc a I ac ter as that which we originally proposed.
The capital is necessarily larger, and the powers vested in those who
have the conduct of the undertaking, of a much more general chante-
ter. We desire to refer you in particular to articles 4-22-23-
24-28-SG.
We are empowered to offer to each Shareholder in the former
Company who shall, on or before the 20th of September next, and
in the manner we are about to mention, declare his option to accept
them, tile same number of Shares in the new Company as he holds
in the original Company, with or without one additional Share in
respect of every live original Shares, and in order to faciltate the
neeesary arrangements, we have prepared such forms as will enable
the Subscribers to express their wishes with convenience. They are
ready, and may be applied for at 62, King William-street, City, be-
tWCQII Eleven o'clock, A.M. and Three o'clock P.M.
We beg to add, that in the event of receiving at this office no com-
munication respecting any particular allotment of Shares in the
original Company on or before the 20th of September next, the de-
posit thereon will be held Subject to the order of the party entitled to
it, and it will be entirely out of to extend beyond the
OUP power
above-mentioned day the option which we have secured for the pre-
sent Proprietors to join the new Company.
It is light we should express our continued 'confidence in the
merits of the undertaking, and our recommendation to the Sub-
scribers to renew their investments in the new Company.
We are, Gentlemen, your very obedient Servants,
W. J. CHAPLIN%
CHARLES DEVAITX.
J. MOSS.
J. MASTERMAN, jun.
UZIELLI.

London, September 1,1845.