The Sun.
London, England, 1844-05-17 00:00:00

'ROYAL ACADEMY OF ARTS, TRAFA
GA R• SQUARE.
I.lle EXHIBITION of the ROYAL ACADEMY is now OPEN.
'Mission (from Eight o Clock till Seven) One Shilling. Catalogue
One Shilling.
HENRI' HOWARD, R. A., See.

ORLEANS, TOURS, AND BORDEAUX
RAILWAY.
%tat 65,400,000 of Francs, in 130,000 Shares, of 500 Francs
Sf rich (2,600,0001., in Shares of 201.),
which 70.000 are subscribed in France, and the Deposit paid ;
the remaining 60,000 to be subscribed in England.
Ts Deposit—One Pound per Share,
Provide the usual Caution.money, or Deposit, required by the
trench Government, and which will be returned, without any de.
-tctiwo whatsoever, but without interest, upon the production of
2 Banker's receipt, if this Company shall not become the Lessees
7, the Railway, pursuant to a Law of the present Session of the
'rend% Chambers.
ROUNIMIONAIRER OR DEAUNDANTS OF THE LEASE.
'l4 ALPHONSE LAURENT, Banker, Blois;
ANTOINE LUZ ARCHE, Chateau de Clavieres and Berry ;
WILLIAM MACKENZIE, of Liverpool and Paris.
11. STANDING COUNSEL.
e Haut Avocet of the Cour Royale, Chevalier of the Legion
;ft lion:ur, late Chef de Cabinet to the Minister, and now
~.,.4441'18 Counsel for the Department of Public Works.
N'it* Directors in France will comprise some of the most dis.
ttished ltlembers of both branches of the Legislature, locally
,",n,weeted with the districts traversed by this Line, when the law
NA have been voted by the Chambers.)
air WIT DIRECTORS IN ENGLAND.
LIAM PLUNKET DE BATHE, Barthe, London;
THOMAS HOULDSWORTH, Esq., M.P., Manchester;
54LLIAM GLADSTONE, Esq., London;
BERT WILLIAM KENNARD, Esq., Lonlon ;
L_EWIN MOSLEY, Esq., Banker, Liverprol ;
RICHARD PATERSON, Esq., London.
soLICIToa IN LONDON.
R. E. Vanheythuysen, Esq., John-street, Bedford-row.
BANKERS.
!ems Denison Hey Rood, Ken.nards, and Co., London;
ilthe Union Bank of London ;
e".
Barned and Co., Liverpool;
The
1, Bask of Liverpool;
"'"a• Cunliffes, Brookes, and Co., Manchester.
C°NSTITt.
:11:17ronvst-esli°N Poi
AND OBJECT OF THIS COMPANY.
Which "mlPaltY is founded on the law of the 11th of June, 1842,
for the carrying out of an extensive system of
tqllis or the Lines of Railway in France, by the joint contribu.
I LOAe ot-tirthlie treasur and private enterprise, and for granting
Aloe, -"e t
fro% r I the RaliwitY oaj Company, upon terms to be agreed upon.
atil to the Ya comprised. in' this law is the great Line
Anintiletne ...,Panish frontier, by Orleans, Tours, Poitiers,
The first isourdeaux, to Bayonne.
eeded to seeten from Paris to Orleans, has already been con.
—P,„..ital• ,„,—.2lPatlY, who constructed it wholly with their own
. rhe ertoi was opened to the public in May, 1843.
”aseof.trnal Purpose of the present Company was to obtain the
lit hm,,'"e'eeond section comprised between Orleans and Tours;
sequir.A44 obtained a larger amount of capital than would be
the jigforthat object, and encouraged by the terms offered by
key er of Public Works, the present proposal of the Com-
edite:-"oraces the whole distance from Orleans to Bordeaux, 295
Tou,sPaulog by the populous cities and towns of Blois, Amboise,
• •
11tedelluehatelleroult, Poitiers, Angouleme, and Libourne, to
Th.
hen ,Lworks to be executed,• at the cost of the State, on the por-
tt7ween Orleans and Tours, are already so far advanced, that,
pari.e hands of this Company, that important extension f the
4thuaer r
altd• 0 leans Railway could be opened to the public in the
Aare _ 1845, with an expenditure of not more than 5/. per
irb'w the whole capital.
beclwPany is reconstituted fer this purpose. The Statutes
rett.theh:wria and Rouen and the Rouen and Havre Companies have
~°Pted, so far as they are applicable to this Company.
014;„._ tom,
portion of the Capital, 35,000,900 francs, is all
,ueni. and the Deposit paid, in Paris and in the provinces.
eretc,- the 30,000,000 francs reserved for England (1,200,0001.), a
lad --,seMble Portion is engaged by the Shareholders in the Orleans
Irjurt Line of last year, who paid their deposits.
F,41,.?0ard of Directors will consist of eight French and eight
"'", two of the latter resident in France, as the representatives
eirlStlardians of the English interests in the administration of the
Zs of the Company.
triz;Z o
ewill be an Office in London for the registration and
timer f Shares, for which every facility will be afforded, imme.
f after the Company shall have obtained the authority of a
p.e/a1 Ordonnane.e. Weekly reports will be transmitted to the
4,15.1 h Directors for the information of the Shareholders.
per
22" Staff of the. Company will be composed of the most efficient
1„4., whose services can be obtained at the head of every de.
les...7ent requiring practical experience in the details of Railway
—.gement.

T
The MinisterENiS ofAND P. übli WorksCONDITIONS
has demanded of the Chambers,
OF THE LEASE.
'4 the
stPresent Session, a vote of 54,000,000 of francs, to be spread
1,1,2 Period of six years, for the construction of the works be-
he
7n Tours and Bordeaux. Of this sum 4,000,000 of francs will
10;?Plicable to the service of the present year, 14, and
ir,ooo for that of 1845.
teen! Net de Lol, or Bill, for this purpose, and for defining tho
mil and conditions of the Lease to be granted, has bee
beto7 for the approval of the Chamber of Deputies, and is now
n sub.
ha Commission, namely, in that stage which is termed in the
fhisehfoPittnament," in Committee,
on the
aistei. luning are the principal conditions proposed by the Mi-
tre fixed
ernbodied in this Bill. The obligations of the State
sea thsed bY the Law of llth June,
red of
tthheerecoisingpo:sndyr,e.a.
in
teth._ hope that the conditions to be requir
4111 Will not be materially, if at all, modified by the Commis.
1;14, in the subsequent discussion in the Chambers :-
18.140111bnster of Public Works, in the name of the State, en-
*Zech,. PAY for the land, and compensation to_
nlandowners ; to
tlf at the earthwork, masonry, stations, works ops, police sta-
lks; 44"1 buildings of every description ; in short, to make the
e4aby.d,ttli dependencies, up to formation level, be the cost what
/at to '0 maintain the earthwork for one year, the masonry
Nan. Years, and the buildings for five years, after delivery to the
,e+4ly.
.11t v.O
nett w. toPany have only to provide, lay, and ballast the perma..
flint f fence off the Railway, supply the locomotive and car.
their ;ck. work the Line, and maintain it during the term of
Le3/4t44- To these alone their liability extends.
entire asa for a term of years sufficient to liquidate the Company's
h._ 41441. by the operation of a sinking fund of one per cent.,
trit-eioved a
ter°l wetucompound Interest. if so improved, at four per cent.,
fth y the Minister. kled t:ztemi "46 Years and 16 days ;if at three per cent., it
• entire
Government to ars,and 324 days. The latter htashobedeonlivporroy:
ntire Line to Bordeaux.
works on
of the whole
ehae.uhc.e7tepromny,commence
8 from
mof the
entire The
stile Line is to be delivered to. the Company in work.
kith deliver B—y between first class stations, and two years after
pt►bgey are allowed to the Company for the opening to the
Ceste__State to participate equally in the nett profits of
.the
• Pant', after ten per cent. to the Shareholders upon
centnht. oinking the capital
gb aCed, 'Mustily nine per cent. dividend and one per
Tee
Itot right of the State so to participate in the nett profits does
thos..." until after the
xfirer five years of the opening of the Line
:zifhout to Bordeau
an,ssol. give to the Company about twelve years of undivided
foeh tilt of the nett profits of the section between Orleans and
i The
Its Company are required to surrender the permanent way and
thin e.rsudencies, at the expiration of the term, without c.oropoetoncska:
414,itnit are to be paid the actual value of their carrying
now
lasses s
. and stores, Either by the Government. er the
444' thre months after the term of their Lease shall
TheaaPired,
talref,,tinfr, or rate of charge, for the transports of passengers and
"!;Idise is to be the same as en the Paris and Orleans Rail.
tali'svi„Lth a small addition for third-class passengers, to meet the
vflue" ,'"
his
Pense of
Companycover will carriages, with curtains at the sides,
t
be bound to provide.
4113 H.,,
''S AND OBLIGATIONS OF SHAREHOLDERS.
(Extracts from the Statutes of the Company.)
Ilk Y Share represents a proportional part of the whole Capital
~111,,„th:e Company, and will be issued at par.
:aehl,l;,llltY of Shareholders is limited to the amount of the
riely by them —a " Societe anonyme" in France, being pre
;
tea
'4411 -"_ e
same, in this respect, as the Railway Company
in
The
..litithorised by Act of Parliament.
otily ,_ nability of the original Subscribers to the Company extends
siithet'P three_teriths,
ferred
or 61. per share, of the amount of their
Vitthou,ti°b• That amount paid up, the shares may be
raass*:' restriction, and the liability of the original trans
Subscriber
, The „
`l'eliti,...7loont of each Share shall be payable
. as follsws :
after
the c„"`" on allotment ; one-twentieth within two months
ralandweneession of the Lease shall have been o :—One-
he
; the re-
M 44. by tenths, as the Directors may see requisite, but at in.
heit-n,,., not less' than four months between each call, until the
The". shall have been paid up.
bear interest d
after the rate of 4 per cent.
O per
rdon annum,
44thathe calls
arnount call "up to date from the Royal nance
141 ;14,14 the Company,e
and payable half-yearly, until the open.
Irristh asection of the Line between Orleans and Tours, after
bah ps Shareholders will be entitled to share, pro rata, in the
,1„. oats, divided half-yearly.
tiet;" Shares will be in the names of the proprietor by subscrip.
"ter °L,Phrehose until the whale amount shall have been. paid up,
th ""leh the 'hearer shall be deemed to be the proprietor, and
tights The front baud to hand like Exchequer bills.'
at'uatession of one or more Shares carries with it all the
" °bligations of the original Shareholder.
PRott
-A/ILE VALUE AS AN INVESTMENT FOR
Itehh CAPITAL
pa
rls !brie laid down, as a general rule, that any Railway having
Every
lharehe-0e Grits term' ini cannot be otherwise than good.
haPtadUet;:r In the English Railways will readily see that the least
„,t4Piated amongst them would be se, if the dividends were to a
jags Y upon the capital required for completing
.. the upper
'4 all Harks,
and stocking the Line. This is precisely the case
The e French Railways now before the Chambers.
Ing ef. of one year's experience (May,the open.
Ai% le Paris and Rouen, and the Paris and Orleans Lines, and,
1844) after
.
sise tragic
444 to as yet but partially developed, on either, is conclu-
- great valueiof the French Railways, as an investment,
Tliegood and economical management.
4tl,ll64hutynti,ZlPtrae:ney the Paris and Rouen Line, upon a length' of
sls."nr Miles for the month ending April 30th, 1844, were,
984/ or at the rate of 258,662/. per
Sep:*
eThe dividend 'actualy paid from the 9th May to 30th
Vlnunr last (145 days) was after the rate of eight per cenrti.copeora f
201':,Xclusive of a sinking fund. The present market p
Theonare is 371. 10s.
el.....receiPts on the the
and Orleans Railway, upon a length
24)017'!Y-tvro miles, for the month ending April 30th, 1840, were
1,•
—ere 78. 2d or at isthe rate of 312,7971. 13s. 2tl. per annum.
proyid a capital of 50,000,000 of francs (2,000. •
000/ ) to be
ad for - .If risu • tie present market price of a 20/. Share is 381.
panics s" be borne in mind that, in the case of both these Com-
pletec. the whole cost of the land, works, buildings, and of a coml..
Iti th„a4llng establishment, was defrayed out a their own capita
least
0" ease of the Orleans, Tours, and Bordeaux Company, at
Pieta itt'e-half, perhaps three-fifths of the whole cost of the coin.
traailway, in the most efficient working condition, will be de-
jvu
by the Statet
2,1
d. .
coutiTa iffarence between the capital of the Paris and Orleans
arid (2,000,000/.) and that required for the Orleans, Tours,
hot
verdeaux Railway (2,600,000/0 which is amply sufficient, is
Ishitth Y considerable; while the latter is nearly four times the
fertile, b.! the former, and traverses some of the richest, most
and '!!'d most populous regions of Western, South. Western,
•,ocihern Franc;
The itn
that the Penance of this Railway may be inferred from the fact
lieete,, twentY-five departments traversed by, or collaterally con.
with comprise an aggregate population of 9,318,000
1366:ind contains 283 cities and towns, with a pulation of
ati"° Persons, to whom the advantages of railway communi.
will be thus afforded.
The tkot. Promoters
. possess the most complete body of statistics ex-
foundreiating to the traffic of every description. The details are
eke ed,_
Faris
official documents, obtained from the Government
s4net,!nu and the local authorities in the provinces, under the
the I,° a Royal Ordonnance. The Tables are complied upon
t.hsposeetnpa,attenabplutrrsaufnede boynilSyl.r. Robert Stephenson, in his able Report
Bee Line from Paris to the Belgian frontier. They exhibit
charged. computed at rates under the Tariff autho.
They will be communicated in due time to
c Shareholders.
prAesTications for the remaining Shares, and only in the printed form
ofne ribed, may be made to Mr. W. P. Needham, at the Temporary
at
Portia
Company, 2, Austin-friars, London, of whom, and Cenrsa.--,
oy s Bankers in the country, Prospectuses and the
:14
4.olldonApplication for Shares may be obtained.
, 10th May, 1844.