The Daily Times.
Liverpool, Merseyside, England, 1860-05-22 00:00:00

nsuraurt Eptirt,

DIRECTORS.
LONDON.
William Rushton Adamson, Esq., (Messrs. Adamson .and Co.'
T. H. Reynell de Castro, Esq.
William Dent, Esq.
Philip S. Fletcher, Esq.. (Messrs. Fletcher, Alexander, and Co.;
Henry Alers Hankey, Esq., (Messrs. Lane, Mulkey, and Co.)
James Harrison, Esq., (Messrs. Young, Harrison, and Bevan.)
James Hickie, Esq., Messrs. Hickie, Berman, and Co.)
Charles Kelson, Esq., (Messrs. Kelson, Tritton, and Co.)
Francis Martin' Esq., (Messrs. Martin, Young, and Co.)
Coleridge John Kennard, Esq., (Messrs. Heywood, Kennard,
and Co.)
(With power to increase their Aunalcr to Twelce.)
BANKERS.
Messrs. Barclay, Bevan, Tritton, and CO.
SOLICITORS TO TILE COMPANY.
Messrs. Freshfields and Newman.
BROKERS.
Messrs. Philip Cazenove and Co.
TEMPORARY OFFICEF.
2, Austin Friars, Old Broad-street, E.C.

LIVERPOOL.
Robert Dirom, Esq., (Messrs. Dirom and Davidson.)
Robinson Duckworth, Esq., (Messrs. Nicol, Duckworth,
and Co.)
George William Ewing, Esq., (Messrs. Duncan and Ewing.)
George Henry Horsfall, Esq., (Messrs. Chas. Horstall and Sons.)
Joseph Hubback, Esq.
Edward Johnston, Esq., (Messrs. Edward Johnston, Son,
and Co.)
Charles Myers, Esq., (Messrs. W. J. Myers, Son, and Cu.)
Charles Stewart Parker, Esq., (Messrs. Sandbach, Tirane,
and Co.)
Charles Saunders, Esq.
John Swainson, Esq.
•
James Aspinull Tobin, Esq.
Alfred Turner, Esq.

BANKERS.
MeSSrS. Moss and Co.
SOLICITORS TO TEE LIVERPOOL BOARD.
Messrs. Duncans, Squarey, and Blackmore.

131i6KER;..
Messrs. Horsfall, Addison, and Co.
Messrs. Thos. Tinley and Sons.
TEMPORARY OFFICE 6.
1, Exchange-street West.

MANCHESTER.
James Burton, Esq.
George Dewhurst, Esq., (Messrs. Dewhurst and Sons.)
James Due-dale, Esq., (Messrs. Dugdale, Brothers,)
Thomas Fielden, Esq., (Messrs. Fielders, Brothers.)
David Harrison, Esq., (Messrs. Harrison and Sons.)
John Robinson Kay, Esq.
Sam. Mendel, Esq.
William Peel, Esq.
Josiah Radcliffe, Esq.
James Riley, Esq.
(With power to increase their number to Twelce.)
BANKERS.
Messrs. Cunliffes, Brooks, and Co.
irrToas TO THE 31.4.1icuzz1.,:: aponay.
Messrs. Sale, Worthington, Shipman, and Seddon.
BROKERS.
Messrs. Shore and Kirkman. •
Mr. Thomas Warner.

PROSPECTUS.

The great development of commercial enterprise during the
last quarter of a century, the concurrent progress of
.our
numerous Colonies, the extension of our Mercantile Navy, and
the large introduction of Steam Pawer in marine transport,
have increased the property requiring protection against Sea
Risks to an extent far beyond the means of insuring it.
In fire and life insurauce, companies alone are now employed ;
and an increasing tendency to resort to them for covering sea
riskat has long been manifested. In particular, when floating
cargoes are sold on the shipping documents, buyers invariably
prefer the policies of a company.
Every properly constituted and well-managed Marine Insur-
ance Company hitherto established has prospered. Besides
the three companies recently formed, five have long been iu
operation in London ; and with what success appears from
the market prices of their shares. Those of the " Marine,"
the one last formed, with £l5 paid, now sell at £lll.
Three of these companies also do fire and life insurance
business; and it is remarkable that the two which take marine
risks only have been the most successful.
There are no Marine Insurance Companies in Liverpool or
Manchester ; and it is admitted that there are not in the
locality a number of individual underwriters sufficient to
effect the very large amount of insurances arising there.
The 'Vessels entering and clearing out from the Mersey
already amount to a yearly total of nearly Five Millions of Tons,
each way : and this tonnage is, and has been, for a very long
period, increasing at such a rate as to double itself every six-
teen years. It is estimated that the Premiums paid for
insuring these Vessels and their Cargoes do not fall short of
Three Millions Sterling per Annum; and that the corresponding
average Profits exceed a Quarter of a Million.

A quarter of a century has elapsed since the establishment
of the last of the Five Companies above referred to. During
this period the property exposed to marine risks, and insur-
able in this country, has increased to an extent which it is
difficult to estimate with precision ; but of which the following
figures, from the Accounts of the Board of Trade, will afford
some idea :

The declared value of Exports of the Produce and Mann-
factures of the United Kingctoxa was—
In 1634
Iu 1;844
1854 97,184,726
In 1859 130,440,427
Showing in this branch of our Export Trade alone, during the
last five years, an average annual increase of upwards of six
millions and a half sterling.
Of the value of the Foreign and Colonial produce exported
from this country no account was taken till 1854. In that
was
£23,174,023: the amount returned was £18,648,978. In 1853 it
showing an average increase of more thau one
million sterling per annum.

The Shipping Clearing out with cargoes h•om the Ports of
the United Kingdom, in the Foreign and Colanial Trade alone,
had an aggregate burden—

In 1‘3,4
In 1841 of 5,297,168 „
In 10a4 of 9,507,721 „
In 1859 of 10,242,624 ,
Showing an increase to nearly five-fold in the last 'Twenty-
Ave years.
Again the Shipping cleared out from British ports in the
Cbasting Trade, which in 1834 amounted to 10,331,249] tens,
had in 1859, notwithstanding the transfer of much of th.,atra,de
to our railways, increased to 16,509,471 tons.
During the last ten years, a very luc,ative field for Marine
Insurance has been opened by the immenae increase in the
importation of the precious metals into this country, and their
exportation to other parts of the world. In 1859, the Bullion
Trade, so far as it, appears in the Official Returns (which take
no aceor.tat of the large parcels of gold passing by private
hands], had risen to the amount of $72,758,959.
By calculations based on these and other accounts of the
Board of Trade, it appears that the Field of Marine Insurance
is extending at the rate of at least Fifteen Millions Sterling
per Annum.
Our commerce having thus largely outgrows the means
provided for its protection against maritime risks, it has been
determined to form the Thames and Mersey Company, with 4
Board at each of the three great centres of our Commerce, so
as to afford, in each locality, the same facilities for the imme-
diate transaction of business one large scale.
These facilities will, by.coralainin,g the operations of London
and Lancashire, extend, th,e basis of Average, secure a corres-
ponding i.;.crease of stability, and proportionately improve the
prosectof..returia from the capital embarked.
A very Incrative business which has hitherto been diverted
inta other channels, and imperfectly transacted, will be qaas
retained in the localities to which it naturally belongs; while
Insurers resident in these Districts may, by becoming Share-
holders, secure for themselves a portion tithe Profits which
now pass into other hands.
The Directors have spared, no exertions in securing the
services of thorouglaly coMpetent and experienced Under-
writers and 0t1.1,e: Officers.
Parlkament shall extend to Insurance Companie the
prixage already granted to every other description of Joint
Stock Company, the Policies will, in accordance with the long-
established practice of the Lorl= Offices, be so framed as to
limit the liability of each Shareholder to take amount of his
Shares.
Applications for Shares must be accompanied with a Banker's
receipt for per Share, iu part payment of the Deposit of
£2 per. Share. Should the amount so paid exceed £2 per
Share on the number allotted, the surplus will be returned ;
but if it falls atoll, the balance must be paid on Allotment, or
in default the Allotment will be cancelled. If no Allotment
lye made, the Deposit will be returned without deduction.
Applicationst
thefor Bankers Shares, or Brokers the foto
r annexed,)te Company may!
be
ire
ong
throughany o
ni
whom copies of the Prospectus and forms of ApplilioAno,T
behayd:
lsta 1160.

~...-

FORM OF APPLICATION FOR SHAMS.
TO Tin' MRECTCT.....i'Vit THAMES AND USABLY' JdARINR

kiiiMANcm COMPANY.

GentlsT.pl/4
Fii~iv p 4 pRI,I to your Bankers at Liverpool the aum, of
, I hece` . request that you will allotto me Shares
of ea2b • the "Thames and Mersey Marme Insurance
Comp.- ..c1 I hereby agree to accept, such Shares, or any
s— ami,er that may be allolte4 to me, and to pay the
atuder of the deposit of on the Shares allotted,
stud to sign the Article% cif Association when required.

I am, Gentlemen,

Name is full
Address in fall
Date

No. Received the day of , 1860,
on account of the Directors of the Thauvel and Mersey Marine
Insurance Company, from , the sum
of , being the Deposit made in accordance
with the terns of Ow Proanectus on an Application for an
AllotmenA of Shares iu the undertaking.
4..

, Bankers.

THE THAMES AND MERSEY MARINE
INSURANCE COMPANY, London, Liverpool, Man-
ester.—To be Incorporated under the Joint Stock Companies
Act, and conducted on the principle of Limited Liability.—
Capital £2,000,000, in 100.000 Shares •of £2O. each. Deposit
on application, El per Share; further Deposit on Allot-
ment, £1 per Share; Call Six Months after Allotment, £2 per
Share.