The Sun.
London, England, 1845-07-12 00:00:00

COLINSRL AND SOLICITORS IN ♦MSTERDAM.

Mr. S. P. T ipman, Chevalier of the Order of the NeTliarlanda Lion,
and of the French Legion of Honour.
Mr. H. A. Hartogh.

COUNSEL AND SOLICITORS AT THE HAGUE.

Mr. P. S. Sehooneveld, Member of States-General, and Chevalier of

the Netherlands Lion.
Solicitors in London—Messrs. Crowder and Maynard.
Bankers in London—Messrs. Masterman, Peters, and Co.
Bankers in Liverpool—Messrs. Moss and Co.
Bankers in Atnsterdam—The Associatie Cassa.
Consulting Engineer—Joseph Locke, Esq.
Secretary in Holland—Mons. Jean Charles S. Jacob, Secretary to

the Chamber of Commerce, Amsterdam.
Secretary pro tem. in London—Ed. .Aime, Esq., 62, King William-
street, City.

LONDON, 11th July,
_1845.

The grant of this important line of railway was made to the Con-
cessionaires by conventions dated the 16th May last, duly signed
between them and his Exceliency the Minister of the Interior, rati-
fied by his Majesty the King of the NetherlandS, and gazetted on
the 20th of the same month.

Its entire length will be about 103 miles, of which 22 miles (from
Amsterdam to Utrecht) were opened in December, 1843 and a far-
ther length of 36 miles (frem Utrecht to Arnheim) on the 14th of May
last, leaving still to be completed the portion from Rotterdam to
Utrecht (31 miles), and from Arnheim to Emmerick (12 miles), with
two miles of branch lines to the Entrepot Dock at Amsterdam and
the river at Rotterdam.

The duration of the grant is for about fifty-three years, terminable at
the close of 1898 ; at the expiration of which period it is to be renewed
for twenty-five years, and so on for every succeeding twenty-five
years, unless the Government give notice of their intention to take
it into their own hands, in which case the entire cost of construction
(including land), and also any outlay for improvements and additions
which may hereafter be made, are to be repaid in full. The whole
of the working and other stock is to be taken at a fair valuation,
thus rendering unnecessary any sinking fund to replace the capital.
The Government have no power to repurchase until the year 1898.

There will be no tunnels on this railway, and it will be all but
level,- except for about three miles in ascending to Arnheim, where
the steepest gradient is only lin 300. The broad gauge of 61 feet
has been adopted. The whole portion of the line hitherto made,
including stations and working stock, has been executed in a very
superior manner, under the able direction of the Chief Government
Engineer of the Ponts and Chaussees in Holland.
The tariff both for passengers and for goods is higher than in
Belgium sr in France, and the wealth and general habits of the
Dutch people are found to produce a much larger proportion of first
and second over third-class passengers than in those countries.
The railway will have for its two western termini, the densely
populated and rich trading cities of Amsterdam and Rotterdam and
will traverse provinces, containing 1,526,900 inhabitants. Some idea
of the extent of the local passenger traffic may be derived from the
fact, that 300,000 papsengers were conveyed in 1844 between
Amsterdam and Utrecht (the portion then opened), whilst the re-
ceipts upon the same portion have nearly doubled during the cor-
responding months of the present year, and a considerable augmen-
tation will now be realised as the line is open to Arnheim, the
favourite resort of the wealthy inhabitants of Amsterdam and
Rotterdam. The imports into Amsterdam and Rotterdam amounted
in 1844 to 943,726 tons, and the exports to 580,687 tons, and their
East and West India trade alone employed 330 large vessels:
Of this immense goods traffic a large proportion must come upon
this Railway, in consequence of the long and flequent stoppages to
which the canal and river navigation is constantly subject from frost
in winter, and the want of water in summer, whilst the unusually
good gradients of this Railway will enable it to carry goods at a low
rate, and all the expenses of loading, carting, unloading, &c., will be
saved, by its having a branch line to the water's edge at the river at
Rotterdam, and to the docks at Amsterdam, so as to load and unload
goods direct from or into the vessels and railway waggons.
It will be seen by reference to the accompanying map, that by
means of this Line and of the Over Yssel Railway, which joins it at
Arnheim, a direct and unbroken ra.lway communication will be es-
tablished from Amsterdam, Rotterdam, the Hague, and Utrecht, to
the North of Holland, and thence by the various German railways to
the interior of Europe, embracing the important populations of Ha-
nover, Brunswick, Prussia, Austria, Bavaria, Saxony, and the other
German States ; and the great capitals and commercial cities of Ber-
lin, Vienna, Munich, Dresden, Leipzig, Hamburgh, Dantzic, Magde-
burgh, Stettin, Frankfort on the Oder, Munster, &c. The South of
Germany, Switzerland, Italy, and the Mediterranean will also have a
direct railway communication with the capital and principal towns
of Holland, by means of the branch line which this Railway will have
from Arnheim to Emmerick, whence another continuous Line is to
join the Great Rhenish Railway to Cologne, Frankfort on the Maine,
Carlsruhe, Baden, &c.
By the arrangements which have been made, the Concessionaires
transfer the railway to this Company for the sum of 11,895,3170. 27"
(somewhat under 1,000,0001. sterling), being the amount actually
expended in its construction, including the interest paid upon the
capital employed, but giving credit for the receipts during and subse-
quent to its construction, as ascertained by Commissioners appointed
under a Royal Commission, dated October 22, 1844. Of this sum
9,000,0000. were raised by loan, as will be presently noticed.
The Concessionaires Have aid a deposit of 500,0000. as caution
money, which, with other sums advanced, will have to be reim-
bursed to them by the Company. The deposit will be returned to
the Company on the completion of the railway.
The Statutes constituting this Company a " Societe Anonyme,"
upon the terms before referred to, and regulating its proceedings,
received the Royal sanction on the Ist inst., and the whole capital
was thereupon subscribed.
They confirm in all respects the rights of the holders of the Loan
Notes for the Loan of 9,000,0000. Under the terms of that Loan it
is to be repaid at 104 per cent., but only out of the actual profits of
the line from Amsterdam to Arnheim, of which a separate account
will therefore be kept. In the meantime the Loan Note tolders re-
ceive interest at 4% per cent. per annum, and in addition are enti-
tled to one-forth of the net profits of that portion of the line, and the
other three-fourths are to be applied in liquidation of the Loan Notes,
to be determined by lot.

The Company have power to buy np the Loan Notes, and it is
provided that in the meantime the amount of any Loan Notes which
have been paid off out of profits may be replaced out of the capital
of the Company, fo as to make those profits applicable to a dividend
amongst the Shareholders, inasmuch as the principal so paid off will
be ultimately receivable from the Government, in the event of the
repurchase of the railway.
In settling with the Concessionaires, the Company will at once be
credited for the 9,000,00011., and will have to pay only the balance,
so that it will not be necessary to call for the 9,000,00011., except as it
may be paid off to the Loan Note holders.
A. deposit of 36f1., or 3/. per share, is payable within one month
from the date en which the Statutes received the Royal sanction ;
a further instalment of 2411., or 2/. per Share is payable within two
months afterwards.
Provisional receipts will be given for the fir t and second payments
to be exchanged for certificates after a resolution to that effect shall
have been published by the Cuurt of General Direction ; and when
the full amount of the shares is paid up, the shares will be either to
bearer or to the holder, by name, at his option.
Further calls of not more than 10 per cent. each will be made at
intervals of not less than three months, and with not less than one
month's notice.
In case of default being made in any of the payments before re-
ferred to, the shares will be satdect to forfeiture, or to be sold at the
risk of the Proprietor, at the option of the Directors.
The Shareholders are exempted from all liability beyond the amount
of their shares, and will be altogether exempted upon their shares
being at any time transferred to others.
The net profit will be divisible as follows : 5 per cent. per annum
to the Shareholders upon the paid up capital.

Of the residue
2-40th parts will be set apart as a reserve fund for extraordinary
emergencies, until the same amounts to
500,00011. (about
40,000/.)
2-40ths will be paid to the Concessionaires.
2-40ths to the Directors.
3-40ths to the other members of the General Direction.
1-40th to the Engineer Director and the other employes at the
discretion of the Court of General Direction, and the re-
maining
30-40ths will be divided rateably amongst the Shareholders, and
will be augmented to thirty-two-fortieths, when the reserve
fund is complete.
A copy of the statutes may be seen at the offices of Messrs.
Crowder and Maynard, solicitors, 57, Coleman-street ; of Messrs. S.
P. Lippmann, and H. A. Hartogh, at Amsterdam; of Mi. P. C. Schone-
veld, at the Hague; of Mr. A. Veder, at Rotterdam; and of Le
Chevalier Nedermeyer van itosentball, at Arnhem.