The Atlantic and Great Western Railway Company have issued bonds
for 405,000/., redeemable in New York or in London at 4s. 6d. the dollar ; with interest coupons payable in London at a fixed rate of 4s. to the dollar. Existing holders have the pre- emption at the rate of one bond for evert two now held. The money thus raised is to be used to extend the line, and the income of the portion already opened is, according to the prospectus, 30/. per mile per week. The directors remark, "The Atlantic and Great Western has almost a monopoly of the petroleum traffic, and passes over the most extensive bituminous coal-fields in the world, for which an unlimited market is about being opened in Canada, and for its traffic in agricultural products, a leading American authority says that, when some contemplated extensions are made, '10,000 eight-wheeled freight cars and 500 locomotives will not suffice."
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