The Sun.
London, England, 1845-09-22 00:00:00

MADRID AND VALENCIA RAILWAY,
authorised by an Ordinance of her Majesty the Queen of
Spain.
Capital 2,400,0001., in 120,000 Shares of 201. each, Spanish reals

. . .
(Velion) 2,000, fr. 500.
Deposit 21. per Share, reals 200, fr. 50,
PROVISIONAL COMMITTEE.

The Most Noble the 11iarquTs of Winchester, 27, Cavendish-square
The Lord de and Dudley, 16, New Burlington-street
The Right Hon. Lord Charles Beauclerk, Chesham-place, Beigrave-

square, and the Riding, Northumberland
The lion. Charles Pelham Villiers, M.P., 27, Regent-street
Sir William Wymi, Chairman of the North Wales Railway
C. Barry Baldwin, Esq., M.P., 6, Parliament-street, Chairman of the
Paris and Strasbourg Railway
Benjamin Williams, Esq., banker (Meess. Cockburn and Co.)
William Collins, Esq., M.P. Reform Club
Edward Bates, Esq., Managing Director of the Argus Life Assurance
Company
John Capper, Esq., merchant, 1, Adelaide-place, London-bridge
William Chadwick, Esq., Montagu-square, Chairman of the Rich-
mond Railway
Gideon Colquhoun, Esq., Widmer Lodge, Avenue-road, Regent's-
park, Director of the Worcester and South Wales Railway
Company
William Cooper, Esq., merchant, 20, Mark-lane, and Kingswood
Lodge, Dulwich
Edmund F. Dayrell, Esq., 15, Old Cavendish-street, and LiMngstone
Dayrell, Bucks, ugh Sheriff of Bucks, Deputy-Lieutenant of the
County, Chairman of the Cheltenham and Gloucester Railway and
Bridgewater and Minehead
W. Eales, Esq., merchant, Mincing-lane, Director of the Direct

Western Railway
Thomas Farncomb, Esq., Alderman of the City of London, Director
of the London and Westminster Bank
Richard Forman, Esq Upper Thames-street
John Joseph Keene, Esq., St. John's-woed, near London, Director
of the National Bank of Ireland
Win. King, Esq., Director of the Freemasons' Life Assurance Com-

parry
James Jahn Kinloch, Esq., 21, Gloucester-road, Hyde-park, Director
of the North Wales Railway Company
lohn Knill, Esq., Fresh-wharf, Thames-street, Director of the
Worcester and Crewe Railway
T. Laurence, Esq., St. Mary-axe, Director of the Direct Western
Railway
Major James Oliver Lindam, 8, New-street, Dorset-square,
Chairman of the Gloucester and Aberystwith and Central Wales
Railway, and Director of the South Midland Junction Railway
Nicholas M'Cann, Esq., 50, Parliament-street, Director of the Man-
chester and Rugby Direct Railway
J. B. Montefiore, Eaq., 2, Winchester-buildings
William Nicholson, Esq., Manchester, Director of the Manchester
and Rugby Railway
S. P. Pratt, Esq., 55, Lincoln's Inn-fields, Director of the Kennet and
Avon Canal Company
Colonel Edward Stopford, 16, Edward-street, Portman-square, Direc-
tor of the Barbadoes Railway Company
William Gordon Thompson, Esq., Director of the South Midland

Junction
S. J. Wsiley, Esq., 22, Devonshire-place
William Lechrnere Whitmore, Esq., 19, James-street, Buckingham
gate, Director of the London Central Railway Terminus.

E.A.NKEES.

London—Messrs. Curries and Co., Cornhill ; Messrs. Masterrnan and
Co., Nicholas lane ; Messrs. Cockburn and Co., Whitehall.
Madrid—Bank of Isabella 11.

STANDING COUNSEL—Jacob Waley, Esq., Lincoln's Inn

Boucrroa.s--Messrs. Keddell, Baker, and G;ant, 84, Lime-street.
'CONSULTING ENGINZEIt—P. Prickardly, Esq.
SacirrAar —F. Kirkham Fowell, Esq.
Offices of the Company, 37, Moorgate-street.

The present Company has been formed for the construction of a
line of railway from Madrid to the city and port of Valencia, the most
central seaport on the Mediterranean. It will open out the re-
sources of an extensive district of country, eastward from the capital,
remarkable for the richness and fertility of its soil, the varied abun-
dance of its productions, and the commercial spirit of its inhabitants.
This railway is authorised by a special ordinance of her Majesty
the Queen of Spain ; and from its vast importance as a national route
of intercommunication her Majesty has been pleased to accompany
the grant with all the privileges and immunities which the Crown is
empowered to confer upon a railway compaay. Amongst these may
be enumerated—

I. A lease of the line and of its branches for 99 years.
2. The gratuitous grant of such Government and corporation lands
as may be required for the railway.

3. The free use of all timber, the property of the state, that may be
necessary for the works, or for other purposes. _ _ _

4. The exemption for ten years, "to 'be computed from the com-
mencement of the works, of all import duties on the machinery,
rails, and other articles requisite for the completion of the railway.
b. The entire exemption from all national and local taxes that
could otherwise be levied upon the railway, works, or buildings of
any description, and upon the capital represented by the shares.
6. The Government is not to interfere with the Company's tariff
of charges for the space of forty years from the completion of the
works ; and no revision thereof is to take place on the expiration of
that period that can sink the profits below 15 per cent.
T. The line is to be classed, by a special law, under the title of a
" work of public utility," and as such to enjoy the royal patronage
and protection, and all the peculiar privileges attached to important
national undertakings.
The proposed line, thus largely endowed, is about 240 miles in
length, being upwards of 150 miles nearer the capital than the ports
of Cadiz and the north coast of Spain, and generally nearer than any
other port in the kingdom. Although it has not yet been minutely
surveyed, it is well known that there is no similar district of equal
extent in the kingdom which presents so few engineering difficulties.
For upwards of 80 miles the line will traverse the almost level plain
of Valencia ; and emerging from the boundaries of the province, it
will follow as nearly as possible the course of the rivers which flow
east and west from the central plateau in the province of Cuenca,
and approach Madrid by the valley of the Manzauares. The line
will either pass through or accommodate the most important towns
in the two provinces, which will thus he brought into rapid com-
munication with the capital on the one side, a seaport on the other.
This railway will be the means of supplying Madrid, containing
300,000 inhabitants, entirely dependent for provisions upon the con-
tiguous provinces, at a cheap rate, with the rich products of the pro-
vinces of Valencia, which abounds in most valuable mines, and is
beyond comparison the most fertile district of Spain.
Valencia, brought by this communication within ten hours' dis-
tance of the chief market of Spain, must necessarily become the
port at which all vessels with supplies for the metropolis will unload,
and the centre of the coasting trade along the whole sea-line from
Barcelona to Gibraltar. _ _ .

..,...
The traffic in passengers and goods now existing between Madrid
and Valencia has been correctly ascertained, showing the following
results :

The annual number of passengers travelling between
Madrid and Valencia, and the intermediate towns, is

upwards of 42,000 ; but taking that number at the
present cost of conveyance by stage coaches, private
—carriages, galeras, and waggons, the amount will be 07,800
The annual weight of goods conveyed between the two
cities and the intermediate localities is 4,900,000 cwt.,
from which the return is estimated at .. 1,223,400

£1,291,200

Assuming that two tfths only of the existing charges
become a source of revenue to the railway, and that
the tariff be reduced considerably below the State
tariff of Belgium, there will be deducted .. ~ 752,320

Remains • . .. • . /538,880
Supposing that the present traffic will only be doubled
by the railway, although experience has proved the
increase to be equal to 300 and 400 per cent., there will
be added .. .. .. • • 538,880

And add £1,077,760
For the transport of troops, military stores, &e., which
the Government will substitute for the conveyance by
waggons .. 50,000
25 per Cent., at the least, for the Alicant traffic .. 215,952

41,343,712
From which deduct nearly 50 per cent. for maintenance
of way, Scc... .. .. .. 00 00 00 671,856

Leaving a net profit of
Or of nearly 28 per cent. upon the capital.

JN571,856

The capital now propoied to be raised has been estimated, by
competent authority, to be amply sufficient for the completion of the
railway, including stations, a double line for rails, and the working
plant.
The royal ordinance authorises the erection of an electric tele-
graph along the line, which will answer the double purpose of placing
the railway under the special protection of the Government, and
closely uniting it with all the railways that intersect the kingdom
and have their common termini in Madrid, to which capital maritime
and mercantile information from the Mediterranean can be instan-
taneously communicated.

One-third of the shares are, by the terms of the concession, con•
ceded to Spain.

The locale of the Company will be in Spain, and it will be framed
on the principle of a eompania anonima, agreeably to the commercial
*ode of that country. _

The affairs of the Company will be conducted by a Board of Di-
rectors in London, assisted by a highly influential Committee in
Madrid. The remuneration to the Directors will be made in ac-
cordance with the plan usually adopted in continental railways, and
that to the Concessionaires consists of a mere contingent interest in
two-twentieths of net profits, after five per cent. shall have been se-
cured to the shareholders. _

A deposit of 21. per share is payable on allotment, and no future
call will exceed 21. per share, of which two months' notice at least
will be given. _

Applications for shares, according to the subjoined form, to be ad-
dressed to Messrs. Keddell, Baker, and Grant, solicitors, 34, Lime-
street, London ; to Messrs. Hutchinson and Son, stockbrokers, Loth-
bury ; Messrs. Carden and Whitehead, Threadneedle-street ; Messrs.
Johnston, and Co., Manchester ; Messrs. Townley and Whitehead,
Liverpool ; Messrs. Wreford, and Co., Bristol ; Mr. Lea, Birming-
ham ; Messrs. Watson, and Co., Leeds ; Messrs. Wilkinson and Earle,
Hull ; Messrs. Buchanan and Aitkin, Glasgow ; Mr. W. Gordon,
Aberdeen ; Messrs. Labertouche and Stafford, Dublin ; and to the
Secretary, at the office, 37, Moorgate-street, London.
London, Sept. 10, 1845.

FORM OF APPLICATION.

To the Directors of the Madrid and Valencia Railway Company.
Gentlemen,—l request you will allot me shares of 201.
each in the above Company ; and I hereby undertake to accept the
name, or any lees number which you may appropriate to me, and to
pay the deposit thereon of 21. per share.
Dated this day of 1845.
Name
Residence ................
Profession or Trade • • • • •• • •
Place of Business
R onism