The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1880-12-09

FOB THE CONSTRUCTION OF AN lNrER'
OCEANIC CANAL THROUGH THE IsTHMUs
OF PANAMA, UNDER THE PRESIDENCY AND
MANAGEMENT OF
VI. FERDINAND DE LEsSEPs,
PRESIDENT oe THE sUEZ CANAL COMPANY, AND
WITH THE PATRONAGE AND ASSISTANCE OF THE
AND AMERICA.
OF 500 600 SHARES OF 500 FRANCS EACH.
According to terms of organization deposited with
Mr. Champelier de Ribes, Notary Public In Paris,
the
PANAMA CANAL COMPANY
will be organized with capital of 800 millions Of
francs. consisting OF
100000 shares OF 500 francs.
10000 shares have been reserved according TO
terms Of organization for the original grantees in
consideration for expenses incurred and grants
ceded by them TO NJ. Ferdinand de Lesseps, the re-
naming 100000 shares being offered for public
subscription.
CONDITIONS OF THE SUBSCRIPTION.
THE SUBSCRIPTION PRICE Is PAR, 500
rancs per share, payable as follows:
25 francs (s4.S0l on subscription.
100 francs on allotment 10 be made within thirty
days from date OF emission.
The remaining 3l5 francs viii be subject to call
a. may be deemed necessary by the Council of ADJ
minIstration, notice of which viii be published at
Icast tnrce mouths I'm advance. No ouch call, how
ever can be made before the expiration of one year
rom tho date Of SubScrintfOn.
After payment OF $50 frar cs the shares can be ex-
changed for bonds by the consent of the stockhod-
ers at a general meeting.
The owner of each twenty shares will be entitled
to one vote In the general meetings.
Interest at the rate of five per cent. on all sums
paid In will be paid during the progress Of the work.
Eighty per cent Of the net earnings will he dis
ributed 10 the stockholders according TO the terms
Of organization.
The requirements for official quotation will be full
aled soon after the organization Of the company.
THE PUBLIC SUBSCRIPTION VIII be opened in
EUROPE and AMERICA
on the 7th, slh, aud 9th of December, 1880.
The distribution of shares subscribed VIII be made
pro rata OF the total subscriptions without distinc
ton OF nationality.
The following privileged subscriptions are not
subject 10 reduction:
First. The shareholders and delegates OF the Suez
Canal Company have the privilege Of subscribing
TO one Panama share for each share delegation OF
the Suez Canal Company
second. The original subscribers 10 the Panama
Canal Company have the privilege Of subscribing
for these Pananu shares in proportion 10 their for
mer subscription.
In order TO avail themselves or this right, the
privileged subscribers on paying the irst 20 francs
should present their Suez bonds or their certificates
proving their original Panama subscription TO the
respective banking-houses.
SUBSCRIPTIONS will be received In PARIS by
COMPAGNlE UNIvERsELLE DU CANAL DE
SUEZ,
COMPToIR D'EsCOMPTE,
soCIETE DE DEPOTs EFT DE COMPLIES COU-
RANTS,
soCIErE GENERALE POUR LIE DEVELOP
MENT DU COMMERCE EFT DE L1NDCS-
TRIE EN- FRANCE,
BANQUE DE PARIS EFT DES PAYS-BAs,
CREDIT LYONNAIs,
sOCIETE FINANCIERE DE PARIS,
BANQUE D'EsCOMPTE DE PARIS,
and At all the offices Of their branches and Inland
and Foreign Correspondents.
Also, In ENGLAND, GEhhANi' orLpiO't
HOLLAND, AUSTRIA, HUNGARiA, ITALY,
RUSSIA. SPAIN, PORTUGAL, SWITZERLAND
DENMARK, SWEDEN, NORWAY, TURKEY,
and EGYPT, at the special houses designated.
THE COUNCIL OF ADMINISTRATIONS HAS
APPOINTED A SPECIAL COMMITTEE IN
AMERICA TO REPRESENT THE COMPANY IN
THIS EMISSION. t 81 F<t
UNDER THE AUTHORITY so GIVEN, THE
UNDERSIGNED WILL RECEIVE sUBSCRlP-
TiONs BY MAIL AND TELEGRAPH.
DREXEL. MORGAN & COL Special
j. & ". SELIGMAN CO.,i American
WINSLOW. LANIER & CO-) COMMITTEE.