Iron Times (Newspaper) - March 23, 1872, London, Middlesex AT THE GENERAL POSTOFFICE AS A NEWSPAPER AND FOR TRANSMISSION STRIVE AND MAECH PRICE ISSUE OF A SIX PER PREFERRED SHARES OF WITH IN AS HEREINAFTER DEFERRED THE ODESSA WATERWORKS A Minimum Rental of Roubles or about per annum 18 GUARANTEED BY THE SANCTIONED BY THE IMPERIAL GOVERNMENT OF DATES OF per Share payable on on on June on September and on December With option of paying the whole of the Instalments in one payment on Interest during per per from the dates of payment of each TEMPLE FELIX Bush Director of the South work and and Grand Junction Water ROBERT Park and Bury CHARLES ARTHUR Park and FREDERICK Wigans Southwark of the Southwark and and Grand Junction Water Sir WILLIAM Fulwell and Of the Southwark and Vauxhall Water CHARLES WILLIAM Petersburg and Merchant of the First Director of the Russian JOSEPH QUICK Engineers of the Southwark and and Grand Junction Water Sumner and Westminster Victoria and Coleman LONDON AND WESTMINSTER FENN A PALMERSTON OLD BROAD This Company has been established for the purpose of constructing works for the supply of Water to the important and rapidly increasing Port and City of Odessa and its which are at present exceptionally destitute of that essential The absolute necessity for such works is evident from the English Consuls Report to the British Government in which states as Water is very scarce there is no running stream in the and the inhabitants of this great Town are at present dependent for their supply of the element on the rain which can be collected in and on certain wells and reservoirs of brackish the chief provision of which comes through pipes from a distance of eight For the above the Municipality of Odessa have granted by conces sion the exclusive right to supply water to Odessa and its for a term of 49 to commence from the date of completion of the and on terms and conditions unusually favourable to the The water will be obtained from the river and after deposit and pumped into service reservoirs whence the City will be mainly supplied by some additional being also provided to supply the upper portion of the The capital of the Company is divided into A shares of entitled to a preferred Dividend of 6 per per and B shares of entitled to 6 per dividend after a like dividend has been paid to the A Surplus after payment of the above to be divided rateably between both classes of Of the above the whole of the B Shares have been in part payment of and the A Six per Preferred Shares are now offered for The Engineers founded upon extensive experience in the designing and carrying out of waterworks in England and on the in accordance with the stipulations of the for the construction of the Odessa WaterWorks on a sufficiently large scale to supply Arrangements have been and contracts have been entered into on behalf of the Company for the acquirement of the as well as for the construction of the entire series of including all preliminary and interest during construction at the rate of 6 per per on terms within the Capital of the The whole of the works are to be by the terms of such contract by the 30th September of next The population to be supplied is estimated at about and the Munici has already incurred a large outlay for a system of which is at present totally in consequence of the absence of water for In addition there are numerous trading establishments where large supplies of water are urgently and the demand for shipping alone it is form an important item in the revenue of the as the business of the consequent mainly upon the large exportation of Corn from the is of vast The Municipality of recognizing the importance of the introduction of a proper supply of water to their guarantee throughout the whole period of the duration of the concession a MINIMUM RENTAL of ROUBLES PER at the present rate of is equivalent to about Sterling PER Deducting from such minimum guaranteed rental the working there will remain from this source alone a eum amply sufficient to meet the preferred dividend of 6 per per annum on the A Shares now offered for The by no means limit their expectations of the earnings of the company to the above minimum Assuming that only onehalf of the quantity of water which the Municipality has required to be provided is the net it is will be providing a for the redemption and repayment of the entire capital before the termination of the yield a dividend of upwards of 12 per per annum on the entire Capital of the and this return to the Shareholders of be largely increased by the additional consumption of which the requirements of the City no eventually WaterWorks it is well always command a high price in the being justly considered one of the most substantial investments of the and not liable to sudden fluctuations in constantly steadily increasing in The large premiums commanded by the Shares of the Water Companies of and other cities afford evidence of this as will be teen by the following table Berlin Chelsea East London Grand Junction WaterWorks West Middlesex Lambeth WaterWorks Kent Portsmouth Bristol Cardiff Paisley Southwark and Vauxhall Water Ditto Works ditto Original Price Present of 0 0 10 0 0 0 0 0 0 0 0 0 It should also be borne in mind that nearly the whole of the above Companies have had to contend against early difficulties and from which the Odessa WaterWorks will be entirely and have in no case had the advantage which this Company possesses of starting with a large minimum guaranteed Considering the exceptional advantages under which this Company id and the very encouraging prospects which the statistics sub mitted to the Directors the Directors feel every confidence in offering the A shares of the Company to the Public as a firstclass based upon a Municipal ensuring an immediate remunerative return on the and offering the prospect of larger as the undertaking The Interest will be payable half on the 1st of January and the 1st of July in each The first payment will be made on the 1st of Failure to pay any instalments at the due date will render all previous pay ments liable to Should any applicant receive no the deposit paid will be returned forthwith without deductions and should a smaller amount be allotted than applied the balance paid on application will be applied towards payment of the amount payable on
