The Sun.
London, England, 1845-10-03 00:00:00

LEEDS, HUDDERSFIELD, SHEFFIELD,
and. SOUTH STAFFORDSHIRE, or LEEDS, WOLVER-
IL and DUDLEY DIRECT RAILWAY.
Capital, 2,000,0001., in 100,000 Shares of 201. each.
Deposit, 21. 2s. per Share.
_ _

Notice is hereby given, that no applications for shares in this line
will be received after SATURDAY, the 4th day of October.
W3l. ARNOLD BAINBRIGGE, / Joint
JOHN OWENS, 5 Solicitors.
Offices of the Company. I, Moorgate Sept. 26, 1845.

THE MONMOUTHSHIRE RAILWAY
COMP.A:ir Y.
Capital 1,000,000/., in 40,000 Shares of 251. each.
Deposit 2/. 10s. per share.
(Under the sanction of the Right Honourable the Earl of Abergavenny,

and ether Extensive litneral Proprietors of the Distri4.)
PROVISIONAL COMMITTEE.
John Barnes, Esq., Chorley Wood House, Herts
Reginald James Blewitt, Esq., M.P., Llantarnam Abbey, Monmouth-
shire

James Brand, Esq., New, Broad-street, London
John Brightman, Esq., Cornhin, London

William Brewer, Esq., Newport, Monmouthshire
Tom Llcwellin Brewer, Esq., Coalbrook Vale, Iron 'Works, Mon-.
mouthshire

Edmund E. Beckingham, Esq., Manager of the West of England and
South Wales District Bank Newport, Monmouthshire

The Chisholm, Chapel-street,lGres'ienoi7place

Charles Conway, Esq., Pontrhydyryn Tin Works, Monmouthshire
John Chapman, Esq., Le.adenhall-street
Jeremiah Cairns, Esq'., Secretary to the Newport Dock Company,
Newport, Monmouthstire
Edward Dowllng,'Esq., Mayor of If ewport, Monmouthshire
lion. W. E. Fitzmauriec, Chesham-street, Belgrave-square

Thomas Gratrex, Esq., Banker, Monmouth
Rena Hampden, Esq., M.P., Marlow, Bucks

. ,
Samuel Homfray, Esq., Tredegar Iron Works, Monmouthshire
Thomas Hughes, Esq., King's Hill, Newport, Monmouthshire
. .

John Retie r, Esq., Merchant, Newport, Monmouthshire
William Jenkins, Esq., Pontheer Tin Works, Monmouthshire
John Jenkins, jun., Esq., Caerleon, Monmouthshire
William Conway James, Esq., Poutnewydd Tin Works, Moinnouth
shire
Henry astrrett Key, Tokenhouse-yard, London..

John Lewis, Esq.,Tydee Tin Works, Monmouthshire
Joseph Latch, Esq., Newport, Monmouthshire
John Lawrie; E.A., Charles-street, St. James's, London

John Lewret;ee, E;l., Newport, Alentnoutlishiro
John Masten jun., uan, Esq., anker, London
Morris Itrotkers, and Morgas, Abercarrne Tin Works, Monmouth-
shire

William Mountford lurse, Esq., Cavendish-square, Loudon

, .
Edward Harris Phillips, Esq., Pontypool
Thomas Powell, Esq., the Geer, near Newport, Monmouthshire
Sir, David Scott, Bert., Dorchester-terrace, Hyde Park, London
Thomas Sanders, Esq., merchant, Bristol
Edward Thomas, Esq., merchant, Bristol
Henry Allen Wedgwood, Esq., Woking, Surrey

Williams, Esq., Banker, Abergavenny
Williams,William Esq:. Proprietor of the relltiVyri and Golynes and
Tarter., Iron Works, Monmouthshire _ .

Philip tiEsq.,Beaufort hint Works, Monmouthshire.

COMMITTEE OF MANAGEMENT.
Chairman—The Hon. W. E. FITZ:U.IEII[CE, M.P.
Deputy Chairman—THE CHISHOLM.
John Barnes, Esq.__ I Thomas Gratrcx, Esq.

Reginald James Blewitt, Esq., I Henry Garrott Key, Esq,
M.P. ' John Lawrie, Esq.

James Brand, Esq.
John Brightman, Esq,
John Chapman, Esq.

William Meuntford Nurse, Esq.
Edward Harris Phillips, Esq.
Sir David Scott, Bart.

Somerroas—Messrs. Johnston, Farquhar, and Leech, London
Messrs. Prothero, Toogood, and Fox, Newport
Messrs. Gabb and Secretan, Abergavenny.
BANKERS.
bondon—Union Bank of London ; Messrs. Mastcrman and Co.
Newport—Monmouthshire and Glamoronshire
Abergavenny—Messrs. Baileys and Co.

This Company is formed for the purpose of carrying into effect an
agreement which has been concluded with the Monmouthshire Canal
.Company for the purchase and transfer of the whole of the imiortant
Interest of tbat extensive and valuable property.
The Monmouthshire Canal Company was first incorporated by an
Act passed, in the year 1793. Two subsequent Acts have extended
the sphere of the Company's operations, and their present tram-
roads communicating with molt of the great iron and coal works of
the district exceeds fifty miles in length,,whilst the- extent of their
two branches of canal is twenty-two miles.
During the last f.irty-n
--ye Years the concern has continued to be
-one of a highly profitable description, the average annual dividend
paid to the shareholders having been during the whole of that period
at the rate of 71. 12s. per cent., and during the last twenty-five years
the average annual dividend has exceeded 101. per cent., being 101.
per share on the original 1001. shares.
The value of these shares has of course increased with the im-
proved dividends, and the purchase-money now agreed to be paid
for the whole of the canal property is at the rate of 2001. per share.
The purchase will secure to the Monmouthshire Railway Com-
pany the whole of the present profitable trade of the Canal Company,
with the certainty of a very great increase therein, as the consequence
of the intended application of the modern principle of railway loco-
motive power to the present tram-roads of the Canal Company.
Thus, beyond its prospective advantages, this undertaking is distin-
guished frem most of the numerous projects now before the public,
in this—that an immediate return will arise to the shareholders from
the present works ef the Canal Company now in full operation.
For a long time past large sums have been annually expended by
the Canal Company in solid improvements of their property. The
last projected improvement is the formation of a line of railway
upon the modern construction from Newport to Pontypool, a distance
of ten miles, and to carry out this object an Act of the Legislature
passed during the last session, and which railway forms a part of the
highly valuable purchase mode by this Company.
Although by the Newport and Pontypool Railway Act a reduction
has been made in the amount of tonnage hitherto payable to the
Canal Company, this will not lessen the actual value of the property,
for it is undeniable that much of the natural traffic of the Company
has been diverted into other channels solely in consequence of the
high standard of the rates of tonnage. The recent Act confers on
the Company the power which they did not previously poems, of
becoming carriers on their lines, and it is oily reasonable to calcu-
late that by the judicious use of thin power and the vigorous peNe-
ention of the improvements of the existing tram-roads the traffic se
alienated will be recovered, as well as much now traffic created.
Thus, whilst the value of the canal property will be materially en-
hanced, the freighters will at the same time reap all the advantages
designed for them in the recent Parlifunentary revision of the
tomiages.

It 1; further proper to state that the branch lines intended to have
been made and purchased by the Canal Company to the iron, coal,
and other works, will also be formed, thereby securing a consider-
able increase of trade upon the main lines.
Owing mainly to the obstacles in the way of cheap and quick
transit, the endless resources of Monmouthshire have as yet been
but very partially developed ; but, in the face of there obstacles, the
quantity of iron now annually exported from Newport is not less
than 200,000 tons, and of coal 700,000 tons.
The port of Newport possesses an extensive trade in the exporta-
tion of tin plate and fire-brick, in the importation of iron ores from
Cornwall, Lancashire, and Cumberland, and of the agricultural pro-
duce from the western counties of England, together with a cons'der-
able and improving trade in foreign and English timber, bark, and
Irish provisioas.
Shares to the amount of 20,0007. in the Newport Dock form part of
tke purchase of the canal interest. These extensive docks have
been constructed in the best possible manner, with a lock capable of
admitting vessels of the largest class. In proof of this it may be
stated that vessels of 1,030 tons registered tonnage have with ease
entered and been loaded in the dock.
The Canal Company have not hitherto afforded any accommoda-
tion whatever to passenger traffic, consequently no revenue has been
derived from this usually fertile source of profit, but reference need
or,ly be made to the dense resident population engaged in the iron,
tin, and coal works 'of Monmouthshire to prove that a very great
passenger traffic would be the result of the introduction into these
districts of the modern railway facilities.
. . .

The general extension of railway communication contemplated in
the neighbouring districts of Wales and England, will, in connexion
with the lines of this Company, most advantageously open to Mon-
mouthshire uninterrupted intercourse with all other portions of the
kingdom. Thus, whilst facilities hitherto unknown wiil he created
for the exportation of the mineral wealth of the locality, the freest
admission will be given to the agricultural produce an•d manufac-
tures of other parts of the kingdom, for both of which a constant de-
mand exists in the mineral dist:dote.

In the allotment of shzres, preference will be given to Proprietors
in the Monmouthshire Cana , to Sharel.olders in the Newport, Aber-
gavenny, and Hereford Railway, aid to landowners on the line.
Applications for shares, in the form annexed, to be addressed to
the Provisional Committee, at thetr temp wary offices, No. 23, Moor-
gate-street, London; Messrs. Gabb and Secretan, Abergavenny;
Messrs. Protheroe, Toogood, and Fox, Newport ' • or to Mr. Thomas
Cooke, or Mr. Samuel Phillips, Monmouthshire Canal Ofdeo,
Newport.
GABB and SECRETAN, Interim Secretaries.