428 COLONIAL AND TRANSATLANTIC has not been altogether loss, and a portion of it may be fairly considered as having given value in return. " By the amended act of Parliament, the capital of the company is limited to 12,000 shares of L .50 each ; each of the old shares being reckoned for two. " But the company are allowed to proceed, as soon as a payment has been made into the hands of the bankers to the extent of - - L .20,000 - " And as in this sum, credit is given for the whole payment that has been made on the old shares, of which 750 still continue, having paid L .10 each, 7,500 " The sum actually wanted to permit the company to resume operation, is 12,500 " The stock and funds of the company, at present, including the expense of obtaining their acts of Par¬ liament, as certified by the auditor's statement, 4,715 " By which it would appear that the value of each of the new shares » about L .3, 3s. " It is proposed to raise a subscription for 4500 shares, and to call for a deposit of L .3, 3s., which will more than complete the preliminary fund before mentioned. " The stock of the company will then be held in 6000 shares, being only one half of the number to which the extent of the capital is limited. " The objects of the company have been explained at large, in a former prospectus ; but to strangers it may be proper briefly to state, that the intention is to establish a line of packets, propelled by steam, from the south-west of Ireland to the north-east of Nova Scotia , and thus to connect and Ame¬ rica, at the nearest points of approximation.