The Liverpool Standard and General Commercial Advertiser.
Liverpool, Merseyside, England, 1843-03-10 00:00:00

CONDITIONS OF THE GRANT

The terms and conditions proposed by the French Govern-
ment to the Grantees of this Line are ❑ow definitely settled,
and mutually agreed upon. The " projet" will be presented
to the Chambers upon the commencement of the public bu-
siness of the present session. and will be carried through its
remaining stages, probably, within two months afterwards.
The Government defrays the whole expense of the land
for the Railway, and compensation to the landowners ; of the
earth-work, masonry, and all the works of construction; of
the stations, work-shops, and necessary buildings of every
description ; in short, makes the Line and all its dependen-
cies, up to the formation-level—be the cost what it may—
and guarantees the stability of the works for one year.

,
The Company purcliase the rails, chairs, and Fleepers; lay
and hallast_the permanent way; Lind the locomotive enenes,
carriages, waggons, and the earring plant generally. They
stock, work, and maintain the Line only, to which alone
their capital is applicable, and their liabilities extend.

They get a grant of the Railway for a term of_ thirty-five
years (to dAe from the opening of the Line throughout)
without liability to repay the principal, or even to pay the
interest of the Government outlay in the construction of the
works, or any portion thereof.

. .
During the first three years after the opening of the line
throughout, the Government do not participate in the pro.
fits.

After that period—deducting from the gross receipts all
expenses, ordinary and extraordinary, of the year, making
provision for a depreciation fund, and for a sinking fund,
and 10 per cent. dividend to the Shareholders upon their
capital—the Government are to have one-half of the re-
mainder, in the nature of a fee-farm rent, for the occupation
of the soil and freehold of the Railway, and the buildings
erected upon it, and as the only equivalent they ask for the
large outlay in the construction of the works.
The Government will not interfere, directly or indirectly,
in the internal administration of the affairs of the Company ;
they do not even require to be represented at the general
meetings of the Shareholders, but consent to take th half-
yearly statements of the receipts and disbursements of the
Company, presented to the Shareholders at large, as the
basis of the amount to which the Government are to partici-
pate in the net profits.
At the expiration of the term of the grant, the Company
get, either from the Government or from the Company, who
shall succeed them as Lessees of the Line, the value of the
Railway as it stands, and of the stock, materials, and stores,
to be estimated by valuation. Or the grant may be renewed
upon terms to be agreed upon between the Government and
the Company. _

The Ta.riff. or Rate of Charges for Transport on this Line,
allowed by Government, is !be same (except as to passen-
gers) as that granted to the PARIS and ROUEN Company ;
and precisely the same, in every respect, as that granted to
the PARIS and ORLEANS Company. Both these Companies
construct at their own cost, with more or less of assistance
from Government.

The ORLEANS and TOURS Company have all the cost of
constructing defrayed for them by the State
PASSENGERS' TRAFFIC.
_ _

Under ordinary circumstances, the passengers now travel-
ling by Diligence may bs fairly expected to use the Railway.
when in operation. In this case it can hardly he doubted
that they will do so, when the average fare by Diligence is
from 10 to 12 centimes per passenger, per kilometre, and the
speed not more than six or seven miles an hour, at the out-
side.

By the Railway, the average fare is taken at only 61 cent-
imes per passenger, per kilometre, while the speed will be at
least twenty miles an hour, including stoppages.
Thus passengers will save two-thirds in lime, and one-
third in money, in travelling by the Railway.