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

COMPANY

This Company is formed upon the model of that of the
Paris and Rouen Railway, the spirit and even the very letter
of the Statutes being adhered to, so far as they are applicable
to two Companies whose objects and obligations are not ex-
actly similar.

The Statutes of the Company prescribe, that no call shall
be made until, at least. one month after the promulgation of
the law by which the Company will be authorised. The in-
stalments will be called up by fifths, and at intervals of not
less than four months.
As the Shares bear interest during the progress of the
works, at the rate of 3 per Tent. per annum upon the amount
paid up, the calls will not be made until the money is wanted,
to pay the contractors fur the stock and materials in course
of delivery.
CONDITIONS OF THE GRANT.

The terms and conditions proposed by the French Govern-
ment to the Grantees of this Line are now 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 defra;s 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-leyel—be the cost what it may—
and guarantees the stability of the works for one year.

The Company purchase the rails, chairs, and sleepers; lay
and ballast the permanent way ; find the locomotive eng-nes,
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 d to 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 fond, and fora sinking fund,
and 10 per cent. dividend to the Shareholders upon their•
capital—the Government are to hare are-half of the re-
mainder, in the nature of a fee-farm rent, for tile occupation
of the soil and freehold of the Railway, and the buildings
erected upon it, and as the only equivalent they asli 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 the 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 expiralion 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 Tariff, or Rate of Charges for Transport on this Line,
allowed by Government, is he 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 l'Ams and ORLEANS Company. Both these Companies
construct at their own coat, with more or less of assistance
from Government. _ _

The ORLEANS and TOURS Company have all the cost of
constructing defrayed for then* by the State 7
PASSENGERS' TRAFFIC.

Under ordinary circumstances, the passengers now travel-
ling by Diligence may 13.? 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 6 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.