Dear Sir

In reply to your favor of 15^th. inst¹ we beg to call your attention to the following information respecting the G^t. North of Scotland R^y. C^o.

Original Share Capital £232.324— Preference ' '330.768— Dividend on Ordinary Share Capital 1855 1$\frac{1}{4}$ P^r. Cent —6 2$\frac{1}{4}$ ' —7 4$\frac{1}{2}$ ' —8 4$\frac{1}{2}$ ' —9 4$\frac{1}{2}$ '

The Optimal Preference Stock is the only Preference in this Company.—

The other Stock to which we alluded in our last is “North Eastern—Berwick 4% Preference” This stock, the amount of which is about £2.000.000, is protected by an ordinary share capital of £6.427.345 upon which dividends have been paid of late varying from 4$\frac{1}{2}$ to 6%

Last Feb^y. twelvemonth the stock touched par or 100. & you will now see it quoted in “the Times” nominal price is only 96.8

It is impossible to give the amount of “Berwick” Loans, as the Loans on the

N^th. Eastern—Berwick Line

D^o. Leeds '

D^o. York '

are a joint charge on the three associated Companies The total amount is £5.500.000 against a total share capital of £16.198.295

The exact figures of the ‘Berwick’ Capital are

Ordinary £6.427.345 Preference 2.047.900

We are Dear Sir | Yours respectfully | RS. & JS. Scrimgeour Co

To C. R. Darwin. Esq

P.S. | We may perhaps state that this is so far a favorable time for effecting the operation you have in view that there is just now a parcel of “Berwick” stock on the market, while at times it is impossible to buy it at all.²