The Daily Times.
Liverpool, Merseyside, England, 1860-03-19 00:00:00

Atit*is:

General Agent for Birkenhead—Mr. ROBERT 1113o1ns, Church=
street.
Agent for Fire Branch only—Mr. WILLIAM OSBORNE, liantiltot-
street. •
Fire Policies due Lady-day should be renewed on or before
9th April.
Application for Agencies in places where the Company is
not fully represented, from persons of respectability, influence,
and activity, may be addressed to the Secretary, 1, Dale-street,
Liverpool. -

THE LIVERPOOL 4CHANGE COMPANY.
. .

Incorporated by Act of Parliament, 22nd and 23rd Vio., oar. 27.

CAPITAL.
18,000 Shares, of•£2o each " 'R360,000
Borrowing Power 90,000 •

L 450,000
Deposit on Allotment Five Shillings per Share.

IRTYSITV,S.
The Right Ilan. William Bwart Gladstone, M.P.
William Brown, Esq. I Joseph C. Ewart, Esq., M.P.
Thod.Berry Horsfall, Esq., M.P. Robert Andrew Mastic, Esq'

SECRETARY.
A: T. Sqiiarey, Esq.,
The 11;;;V of Liverpool.
messrs. turicansB,o 1.4.4Cu1al .
and Elaekm'ore..
ARCHITECT.
Lewis Cubitt, Esq., Assoc.' Inst. C.E., London.
itESIDENT AItURITRCT• •
Joseph &kilt, Esq.
AUDITORS.
lienry Christie Deloe, Esq. ; Adolf J. Gnosspelius, Esq.
Offices : No. 1, Exchange-street West, Liverpool.

DWEC IV tS.
&alan.—Chailes Stewart Parker, Esq.
Deputy-Chairmen —Ralph Brockleba4,•Esq.; John Torr, Es
Thomas Darnley Anderson,Esq Joseph Hubback, Esq.
James Jenkinson Bibby, Esq. ' Williadi Hope Jones, Esq.
Francis Boult Esq. Robert Wanlesa- Kelley, Esq.
Christopher Bushell, Esq. . Jantes Cox, Esq._ •
Thomas Brittain Forwood, Esq. Charles E. Rawlins, jun., Ecl.
Robertson Gladistone,'Esq.., , : Philip Ravf,son, Dig.,
Edward Heath, Esq. Charles, obertson,. Esq, .
Ty:ion:tag Dyson Hornby, Esq. ', Francis Shitiid; Esc,.
Getirge Henry,Horstall Esq
,_,William.Jolt Tomlinson, Esq.
,

TRE Citi,TEC`l'g 'Ol4 THE ' COMPANY ARE—
let. To provide a Nensreonl, all Underwriters' Room, a Stool(
Exchange, and a Public Salesroom, adapted to the growing
wants of the mercantile comintinity.-•
2nd. To Reconstruct, Enlarge, and Iniprtive the present
Buildings, so as to optain from 'thorn the rental Which
ought to be derived from one of the best sites in Liverpool,
Aet of Incorporation (which only obtained the royal
assent on the 21st July last) gives the Company full powers to
take all the property required for carrying out rkeir plans. As
regards the Exchange-Vuildings, the Directors have desired
from the first to make smile arrangement, 'by 'amalgamation or
otherwise, which would haive euabled them to act, in harmony.
with the company of 'proprietors. Much time has been occu-
pied in negotiations 'with ,this subject, but. Without success.
The Committee did riot feel authorised to entertain, and far
less to recommend to their proprietors, any such proposals,
There 'remains', therefore, no other course but to have the
price of the property ae,ssgsed, under the provisions of the,
Lands Clauses Consolidation Act, by arbitration or by a jury.
The Directors see no reason to doubtthat the *slue of thetpro-,
perty to be taken from the Corporation may be settled by
agreement. - -

wik lofty and well-proportioned Newsroom, of .-more than
double the area, and tbur times the 'ethic tcfpac#y, of the
present room (with Consulting and Refreshment Rooms, and
other accessories), will be eenstruoted on the west side of
" the Flags," on part of the. space now occupied by the west
wing of the present buildings, the Sessions-house, and the
intervening, street. The new room will ,be lighted, warmed,
and ventilated in the most approved manner, and will have the
'advantages of great facility of access and freedom from noise.
The expense- of the undertaking, and the very satisfa2tory
return to be obtained from it, when.completed, have been care-
fully calculated by the Directors. They feel assured of the
accuracy of the following Estimates, which have been made
with great caution, from data collected during the last two
years, and verified by gentlemen of- high professional skill and
experience. The Estimate of. Rental is based vn actual returns,
,from similar property near the Exchange.
It is believed that fthe total outlay, including preliminary
' expenses,law charges, the purchase-money of property, and
the cost of building and reconstruction' will not exceed
£390,000. Of this sum £90,000 will be taken up on loan,
under the borrowing power given by the act. The Deposit of.
Five Shillings per share will meet all the expenditure up to
December, 1860 ; and the Balance required will be raised by
calling up about £l6 per Share, by Instalments, extending
over a period of two or three years.
The Directors feel confident that the nett Income from tlsq
Improved property, after paying interest on loan, grOund rent,
and all other outgoings, will not br, less than £22,500; which
gives a Dividend of £7 10-s-per cent7per annum on the paid-up
Share Capital-4300,000. I,
' Supposing that; from any unforeseen circumstances, it should ,
become necessary to expend the full amount of the Shares--
, £360,000, instead of £300,000---the ,nett Income, of £22,500
would still pay a Dividend of £6 .5s per cent: per anmim on the
Paid-up Capital, thus increased by £60,000: On the otherhand,
should the nottincome fall short of the Estimate, by so much
even as one-fifth, or £4,500, the, redUced return of £lB,OOO
would still yield £6 per cent. on £300,000, or £5 per cent. on
£360,000.
_ _

The Works will be executed with the greatest possible dis-
patch; and as some parts of the property will always be pro-
ducing Income, there will, during the alterations, be a fond
available for Dividend, though at a lower rate than that which'
will ultimately be realised.
The Capital already subscribed amounts to upwards of
£210,000.

Considering the safe and remunerative character of the
Undertaking as an investmf.nt,. as well as the public grounds
on which it may properly claim support, the Directors trust
when ,the foregoing revised statements shall have been
lished, the sum required for the completion of their scheme
will be promptly provided. They would especially bring the
subject to 'the notice of those who now daily experience the
inconveniences of the present Public Rooms and Offices.
Application for Shares (in the form annexed) may be
addressed to Messrs. DUNCANS, SAUAREY, and BLACKMORE,
'Solicitors, 1, Exchanize-street West, Liverpool.
Liierpool, March, 1860.

FORM OF, APPLICATION FOR SHARES.
To the Directors of the Liverpool Exchange Company.
I hereby apply for Shares in the above Company, and I
agree to accept the 'same, or any less number which may be
allotted to me. Dated the day of 1960.
Signature (in full)•
•
Residence or Place of Business
Occupation