The Sun.
London, England, 1845-10-09 00:00:00

and making no allowance for the increase of travelling which
w3uld be occasioned by the increased facility of communication,
would, according to an estimate taken by the Company's engineer,
in Canada, be sufficient to pay seven per cent. on the cost of con-
struction, without taking into account the local traffic of Canada,
or the traffic in goods and merchandise.
The line is of a peculiarly easy character, traversing for the
greater pact of its distance a level plateau, and involving no heavy
engineering works. The laud will be obtained at an inconsiderable
cost, and the whole preliminary expenses which have been in-
curred in obtaining the Act, &c., do not exceed 1,0001.
As a proof of the cheap manner in which railways may be con-
structed in America, it may be instanced that the Michigan
Railway, which, as already mentioned, forms a continuation of the
Great Western of Canada, has been actually constructed at a cost,
including station and working stock, of 2,600/. per mile; and the
various railways centering at Buffalo have been similarly com-
pleted, at a cost averaging from 3,000/. to 4,0001. per mile.
There is no doubt that the Great Western Railway of Canada
traversing an easier country, and with better access to materials,
might be constructed at as low a cost as any of these railways, but
it has been thought prudent to frame the estimate with a view to
a more solid and enduring work, resembling more nearly in
character the railways of this country ; and the amount of capital
has been fixed accordingly upon a revised estimate considerably
higher than the average cost of railways in the United States.
There is no difficulty in letting the works to respectable con-

tractors in Canada, and as the excution will be forthwith com-
menced, and the works are of such an easy character, it is con-
fidently expected that the whole line will be opened in the course
of the year 1848.
The concession under the Company's Act is of the most favour-
able description, being unlimited in respect of tolls and charges,
and also of duration, subject to a right to the Government to pur.
case the railway after 40 years, upon payment of a sum equivalent
to 20 per cent. upon the capital, provided the railway shall upon
the average of the preceding 40 years have paid a dividend of not
less than 121 per cent.
The Company being incorporated by Act of the Legislative,
the liability of shareholders is limited to the amount of their
shares in the same manlier as in an established English Railway
Company, and will cease upon the shares being transferred.
The capital is already subscribed, and a deposit of 15 per cent.
paid upon it; and arrangements will be made forthwith, by which
the holders of scrip certificates of shares may be registered as share.
holders of the Company upon signing the necessary deeds.
Further calls of not more than 5 per cent. each will be made at
intervals of not less than two months, and with not less than one
month's notice ; and the premium, or rate of exchange to be
obtained on bills or other remittances for transmitting the funds to
Canada, will be accounted for to the shareholders.
Provision will be made for ensuring an efficient control over the
expenditure and general management of the concern to the cor-
responding Committee in England, and periodical meetings of the
English shareholders will be held in England.
A copy of the Act of Incorporation of the Company may be seen
at the offices of Messrs Bircham and Dalrymple, Bedford-row,
London.

Maps and other information may be obtained at the temporary
office of the Corresponding Committee, tS2, King William-street,
London.