The Sun.
London, England, 1845-11-05 00:00:00

Cbtrb Vbition

NEWS FROM PORTUGAL.

(From the Morning Herald.)
SOUTHAMPTON, WEDNESDAY MORNING.
_ _ _

The Queen steam-ship, Captain Russell, arrived this morn-
ing at nine o'clock, with the usual Peninsular mails, which
were dispatched to town by the eleven o'clock A.M. train.
She also brings 270 boxes of oranges, 24 barrels of olives, a
quantity of grapes, 40 cases of eggs, and about 2,6001. in
specie, besides a variety of other packages of merchandise.
The Queen left Gibraltar on the 27th of October; Cadiz,
28th; Lisbon, 30th; Oporto, 31st; Corunna, Nov. 1; and
Vigo on the same day. Her Majesty's ship Flamer, and her
Majesty's brig Fantome, the United States sloop of war Cu-
mberland, French steamer Gassendi, and the Peninsular and
Oriental Company's steam-ship Oriental, were at Gibraltar.
The Quiver schooner was off Lspchel, and wished to be re-
ported.
The Baiter was off Cadiz on the 28th ultimo. The Royal
Southern Yacht Club yacht Circassian, the Ganymede (J. H.
Smith Pigott, Esq.), and the Anaconda (Sir Charles lbbet-
son), had also put in at Cadiz, but left the day previous to
the Queen for the South. The Spanish ship-of-war Soberana,
of 72 guns, with the brig Manzanaries, of 20 guns, and
steamer Isabel the Second were also lying at Cadiz.
At Lisbon was the French brig-of-war Cyque, of 20 guns ;
also the Company's steamer, North Star. The Royal Tar
had arrived at Vigo on her passage out.
The Queen brings home several passengers.

(FROM OUR OWN CORRESPONDENT.)
lABBON, Our. 30, 1845.
A Portaria, under date of the 18th inst., has been issued
from the Home Department, and published in the Diario,
setting forth the terms upon which the Government is willing
to grant to any company the privilege of making railways in
Portugal. Those terms are in substance as follows, viz. :-
1. The company to be allowed an exclusive privilege for
99 years, to be reckoned from the completion of each line of
railway.
2. To be allowed the free use of the Crown lands through
which the line may pass, and of the stone, sand, and clay
therein.

3. To enjoy an exemption during five years from import
duties on all materials and machinery, which it may be neces-
sary to import from foreign countries.
4. An exemption from all general or local imports upon
the labours of the company, or upon its shares.
5. The company to be allowed, for the first ten years, to
establish whatever rates it may think proper for the convey-
ance of passengers and goods. At the end of that term, how-
ever, the rates will become subject to the consideration and
approval of the Government.
6. The company must engage to begin each line of rail-
way within one year from the signing of the respective con-
tract, and to complete it within six years from its commence-
ment.

7. The plan and prospectus of each line shall be submitted
to the consideration of the Government.

8. Government dispatches to be conveyed gratuitously.
9. Troops, baggage, and military stores, to be conveyed at
one-fourth the ordinary rates.
10. The propelling power to be steam, by means of loco-
motives ; but the company will be at liberty to adept the
atmospheric principle, if deemed more expedient.
11. The works to be carried on under the supervisorship of
agents appointed by the Government, for the purpose of pre-
venting any departure from the stipulated conditions.
12. The Government will make certain provisions, which
are to be considered as the complement of the conditions and
clauses established, as is done by the French Government in
the cahitas des charges in contracting for works of this nature.
13. If the company be a foreign one, it will be considered
as Portuguese, with regard, solely, to the obligations of its
contract, and will be, so far, subject to the laws and tribunals
of this country alone.
14. At the end of twenty years, and after that, at the end
of every fifth year, the Government:will have the right of
appropriating any railway to itself, on payment of its just
value, which value is to be fixed by arbitrators, upon the
basis of the nett revenue of the last five years.
15. The Government will make the necessary regulations
for the maintenance and security of the railways.
16. The Company contracting for any line of railway shall
deposit with the Board of Public Credit, as a guarantee for
the performance of the contract, the sum of 12,000 mitres (in
Portuguese Four or Five per Cent. Inscriptions) for every
league of such line.
17. No proposal for the construction of railroads will be
admitted, unless the parties making it give sufficient proof
of their ability to carry the undertaking into effect.
18. All proposals are to; be presented at the Home-office
within six months from this date (18th October).
Of the foregoing terms some appear perfectly fair • but
the 14th and 16th are of a nature to put a stop to all railway
speculations in this country so long as they continue to be
insisted on. The deposit required is at the rate of 170/. per
mile, which for the proposed Oporto line would amount to
somewhere about 150,0001. The trusting such a Government
as this with the safe keeping of so large a sum is of itself a
very weighty objection ; but when to this is added the con-
dition, that just when any railway ceases to be a losing con.
cern, and begins to yield some profit, the Government is to
have the power of taking it at a valuation based upon the
aggregate receipts of the last period of five years, which re-
ceipts the Government itself is to have the right of lessening,
by lowering the rates of fares, it is scarcely credible that any
company will venture upon such an undertaking.
By an arrangement with the Unias Commercial Company
the funds required for the payment of the next dividends in
London have been provided. So far the evil day has been
put off; but to a crash it is likely to come at last. The
Five per Cent. Inscriptions, which were shortly ago at 75, are
now at 68, and their tendency is still downward.
Yesterday being the 29th anniversary of the King Con-
sort's birth, was a day of great rejoicing.