The Sun.
London, England, 1844-05-28 00:00:00

PROBABLE VALUE AS AN INVESTMENT FOR

CAPITAL.

It may be laid down, as a general rule, that any Railway having
Paris for one of its termini cannot be otherwise than good. Every
Shareholder in the English Railways will readily see that the least
productive amongst them would be so, if the dividends were to ba
computed only upon the capital required for completing the upper
works, fencing, and stocking the Line. This is precisely the case
in all the French Railways now before the Chambers.
The result of one year's experience (May, 1844) after the open-
ing of the Paris and Rouen, and the Paris and Orleans Lines, and,
with a traffic as yet but partially developed, on either, is conclu-
lave as to the great value of the French Railways, as an investment,
ander good and economical management.
The receipts on the Paris and Rouen Line, upon a length'of
eighty-four miles, for the month ending April 30th, 1844, were,
in British currency, 19,984/., or at the rate of 258,6621. per
annum. The dividend actually paid from the 9th May to 30th
September last (145 days) was after the rate of eight per cent. per
annum, exclusive of a sinking fund. The present market price of
a 201. Share is 371. 101.
The receipts on the Paris and Orleans Railway, upon a length
of eighty-two miles, for the month ending April 30th, 1840, were
24,0611. 7s. 2d., or at the rate of 312,7971. 13s. 2d. per annum.
There is a capital of 50,000,000 of francs (2,000,000/4 to be
provided for. The present market price of a 20/. Share is 381.
It must be borne in mind that, in the case of both these Corn.
panics, the whole cost of the land, works, buildings, and of a com-
plete carrying establishment, was defrayed out cf their own capital.
In the case of the Orleans, Tours, and Bordeaux Company, at
least one.half, perhaps three-fifths, of the whole cost of the com-
plete Railway, in the most efficient working condition, will be de-
frayed by the State!
The difference between the capital of the Paris and Orleans
Company (2,000,0001.) and that required for the Orleans, Tours,
and Bordeaux Railway (2,600,000/.) which is amply sufficient, is
not very considerable; while the latter is nearly four times the
length of the former, and traverses some of the richest, most
fertile, and most populous regions of Western, South-Western,
and Southern France.
The importance of this Railway may be inferred from the fact
that the twenty-live departments traversed by, or collaterally con-
nected with it, comprise an aggregate population of 9,318,000
souls, and contains 283 cities and towns, with a population of
1,766,000 persons, to whom the advantages of railway communi-
Ication will be thus afforded.

The promoters possess the most complete body of statistics ex-

MUSIC OF RUSSIA, POLAND, AND HUNGARY,
Without Extra Charge to the Public, at the
ROYAL POLYTECHNIC INSTITUTION.
The Directors have engaged Mr. C. E. HORN, to deliver
A SERIES of. LECTURES; on the MUSIC of EIGHT different
NATIONS. The MUSIC of RUSSIA, POLAND, and HUNGARY,
commences on the 27th instant, and will be continued during the
week, on Monday, Wednesday, and Friday Evenings, at Eight
o'clock ; and on Tuesday, Thursday, and Saturday, at Three o'clock,
with VOCAL and INSTRUMENTAL ILLUSTRATIONS. All the
other LECTURES and EXHIBITIONS as usual. LONGBOTTOM'S
PHYSIOSCOPE and OPAQUE MICROSCOPE. NEW DISSOLV-
ING VIEWS, ARMSTRONG'S HYDRO-ELECTRIC MACHINE, &c.