The Daily Times.
Liverpool, Merseyside, England, 1860-05-15 00:00:00

3nsuraurt aiptice,

r HE THAMES AND MERSEY MARINE
INSURANCE COMPANY, L'uldon, Liverpool, Man-
entster.-1 o be Incorporated under the Joint Stock Companies
Act, and conducted on the principle, of Limited
Capital £2,000,000, in 100,000 Shar4 of' £2O each. Deposit
on application, £1 per Share; further De sit on Allot-
Ment, £l,per Share; Call Six Montht after Allotment, £2 per
Share. ---

b I ItEt 0 RS.
LONDON.

Ri:Shton Adamson,C,:iiiessrs. Adamson and Co.;
T. Rcynell de Castro', Esq.
. .
William Dent, • Esq.
Philip E. Fletcher, "Esq.. (Messrs. Fletcher, Alexander, and Co.
Henry Alers Hankey, Esq., (Messrs. Lane, Hankey, and Co.)
James Harrison, Esq., (Messrs. Young, Harrison, and BeVan.:
Janie litokie, Esq., (Messrs. Hiokie, Berman, and CO.)
Charles Kelson, Esq., (Messrs. Kelson, Tritton, and Co.) .
Francis Martin, Esq., (Uessrs...Martin,_ Young, and Co.)
Coleridge John Kennard, Esq., (Messrs: Heywood, Kennard;
( With power to increase their number to Twelve.)
. BANKERS. •
Messrs. Barclay, Bevan, Tritton, and Co.
SOLICITORS TO THE COMPANY.
Mests.- Freshlields and Newman.
' SMOKERS.
MCFre. Phil p. Caxenove,and Co:
TEMPORAHY orritEs... •
2,-Austin Friars; Old Broad4treet,
• .
LIATERPOOL.
Robert iiirthii, (Messrs. Dirom and Davidson.)
Robinson DUckworth, Esq., (lies rs. Nicol,' Duckworth,
and Co.)
Geo, ge Ewing, Esq., (Messrs. Duncan and Ewing.)
George Henry Horslalt, Esq., (Messrs. Chas. Hors tall and Sons.)
Jo iepn Ilubback, Esq.
Edward Johnston, Esq., .(Messrs. Edward Johnston, Son,
and Co.)
Charles Myers, Esq., (Messrs. W. J. Myers, Son, and Co.)
Charles Stewart Parker, Esq., (Messrs. Sandbach, linne,
and Co.)
Charles Saunders, Esq. •
John Strabiison, Esq. , . .
James Aspinall Tobin, Esq.
. .
Alfred 'a umer, Egg:

• BANKERS. •
Messrs.
Moss and Co.
SOLICITORS TO TUE LivEaroot BOARD,
Messrs. Duneans, &palsy, and Eldeltiliofe.
PReWER9.
• Messrs. Itorstall. Addison, and Co.
Messrs. Thos. Tinley and tons.
TEMPORARY OFFICES.
1, Exchange-street West.

MANCHESTER.

George-Dewhurst, Esq., (Messrs. Dewhurst and Sons.)
Janies 'Dugdale, Esq', (Messrs. Dugdale, Brothers,)
Thomas Fielden, Esq., (Messrs.*Fielden,.Brothers.) •
David Harrison, Esq., (Messrs. Harrison and Sous.).
John Robinson Kay, Esq.
Sam. Wilde!, Esq.
William Peel, E-q.
Josiah Radcliffe, Esq,
James Riley, Esq.. .
(With power to ',lt)•?,2seilieir number to Twelve.)
BANKERS.
Messrs. Cimliffes, Brooks, and Co.
• swami:mi. TO THE MANCHESTER BOARD.
.:Messrs. Sale, Worthington, Shipman, and Seddon.
BROKERS. .
• Messrs. Shore and Kirkman.
Mr. Thomas ♦Varner. . • •

PROSPECTUS. ~
The great development of commercial 'enterprise during the
last quarter of a opntury, the echicurrent progress of'- our
numerous Colonies, the extension of our Mercantile Navy, and
the large introduction of Steam Power in marine transport;
have increased the :Property'requirin protection against Sea
Risks to an extent far beyond the means of insuring it.
In fire and lite insurance, companies alone are now employed;
and an increasing tendency to resort to them for covering sea
risks has long been manifested. In particula-, when floating
cargoes are sold on the shipping documents, buyers invariably
prefer the policies of a company. •
Every properly constitutedand well-managed Marine Insur-
ante eompany hitherto established has prospered. Besides
the three companies recently formed, five have long been in
operation in London ; and with what: success appears from
the market paces of their shares. Those of the !‘ Marine,"
the one last formed, with £lB paid, now sell at £lll.
Three of these companies also do fire and life. inenrance
business; and it is remarkable tliat Ate two vlobicn take rfiarine
risks only have been the Milt blicceoful.
e atb lie Marine Insurance Companies in Liverpool or
Manbliester ; 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 .eut 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 iteelf 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 Sterne g'per Annum ; and that the corresponding
average Brats exceed a Quarter of a Million.

A quarter cf 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 t..) an extent 'which it is
diffldult to estimate with precision; but of which the following.
figures, from the Accounts of the Board of Trade, will afford
some idea t

. iie—deefared, ialtit 'Of Ekpotts of the Produce and Manu-
factures of the United Kingdom was—
In 1834
In 1844 58,584,232
In 1834 97,184,726
• In 1859 ' 136,440.427
Showing in this branch of our Export Trade alone, during the
Jast.tive years, an average annual increase of Upwards of sit
millions and a half sterling,„
' Of the value of the Foreign and Colonial produce exported
'from the collat y no account was taken till 1854. In that
Thar the amount returned was £18,648,978. In 1858 it was
123,174;023: showing ,an average increase of more than one
million sterling per annum.
.
. The Shipping clearing out with cargoes from the Ports of
the United Kingdom, in the Foreign and Colonial Trade alone,
had an aggregate burden—
In 1834 of 2,185,099 tons
•
' In 1841 of 5,1:97,168 „
In 18.54 of 9,597,721 ~
In 18,59 of 10,242,624 „
•
Showing en Mere se to nearly five-fold in the last Twenty-
;five years. , _

•
Again the bhipping cleared out from British ports in' the•
Coasting Trade, 'which in 1834 amounted to 10,33',249 tons,
had in 1859, notwithstanding the transfer of much of this trade
to our railways, increased to 16,509.471 tons,
During the last ten years, a very Inc atfve field for Marine
Insurance tits been onened by the inimense increase in the
importa'ion of the Precious metals hit° this country, and their
exportation to other parts of the world. In 1859, the Bullion
Ttade; so far as it appears in the Official Returns (Which take
no account of the large parcels of gold passing by private
lands), 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 outgrown the means
provided for its protection against maritime risks, it has been
determined to form the Thames and Mersey Company, with a
board at each of the three great centres of our commerce, so
as to afford, in each lecality, the same facilities •for the name-
,di4te transaction at, business on a large scale.
These facilities will, by combining the operations of London
and Lancashire, extend the basis of Average, secure a corres-
ponding increase of stability, and proportionately improve the
•
.prospect of return from the capital embarked.

A very lucrative business which has hitherto been diverted
into other channels, and imperfectly transacted, will be thus
retained in the localities to which' it naturally belongs ; while
'lnsurers resident in these Districts may, by becoming •Share-
holders. secure for themselves a portion of the Profits which
now pass into other hands.
The Dirietors have spared no exertions in securing the
services of thoroughly competent and experienced Under-
writers and other Officers.
Until Parliament shall extend to Insurance Companies the
privilege already granted to 'every other description of Joint
Stock Company, the Policies will, in accordance with the long-
enablished practice of the London Offices, he so framed as to
limit the liability of each Shareholder to the amount of bis
Shares.
Applicatons for Shares must be accompanied with a Banker's
receipt for £1 per Share, in part paymeAt of the Deposit
of
.L 2 pe Sha. Should the mt so aid exceed £2 per
ilisrer on the number allotted, t rhe surplups will be return ed ;
but if it falls short, the balance must be paid on Allotent, or
n defau t the Allotment will be cancelled. If no Allotment
be made, the Deposit will he returned mithout deduction.
Applications for shares, [in the form annexed,) may be sent
through any of the Bankers or Brokers to the Company : from
.whom copies of the Prospectus and forms of Application may
be had.
May. 1860.

FORM OF APPLICATION FOR SHARES.
TO THE DIRECTORS OF THE THOIEf4 AND MEASLY MARINE
INSURANCE CiMPANY.

Gentlemen,
Ving paid to your Bankers at Liverpool the sum of
£ , I hereby request that you will allot to me Shares
of £2O each, in the !* Thames and Mersey Marine Insurance
Company," and I hereby agree to accept such Shares, or any.
'smaller number that may be allotted to me, and to pay the
'remainder of 'the depOsit of £ on the Shares allotted,
and to sign the Articles of Association when required.

I am, Gentlemen,

Name in full
Address in full
Datc

•
No. • Received the • day If. , 1860,
on'aceaint Of the Directors of the Thames and Mersey Marine
Insurance Company, from .. , the Rum
of , being the Deposit made in accordance
with the terms of the Prospectus on an Application for an
A'lotment of shares in the undertaking.
£ • ..., li utn, . g I Bankero.