The Express.
London, England, 1864-09-06 00:00:00

PROSPECTU&_

I, company is an extension of the CO riff Fonder (Limited)
the credit Mobilise (limited), which were established,
Gamer for financial business In connection with land, the
r Li general financial operations.
unesurnpled success achieved by Om oompanies, whom
E.. mut published, show tie amount of net profits, upon a
. up capital amounting jointly to £lOO,OOO. to be at the rate
e art, of ltv per rent. per annum, and who have each de-
,,;..1 a dividend and bonen of iral per share on g 6 paid for less
mouths' *lt orklug, besides carrying 840,000 to the re-
I, and the enormous accession of business of both come
;.=.e) retuler It absolutely sesential to increase the capital, and
• enlarge the basis of their operations.
art ills view it LAS beta determined to found the present
serful institution, which will absorb the two companies, and
r. tu,e over the whole of their amete, including their united
re,er, land, amounting to £40,000, and will also of course
b..nre their engagements, and the Directors believe that the
',died means the knee of the new capitol will place In their
t.c..:s enable them to effect even reciter results than bare
lea alreudy achieved..
dr,tribution of the shares will be made In the following
▪ r. i,y which it will be seen that a libenizryortion her,
I•(;.uppropriated for allotment amongst the public.
shares will be issued to the disrobe! en of the Credit
Yonder (Limited) at per, in exchange, foe the like
number of shares now held by them.
'hares will at their e- be allotted to the abate-

of the Credit Fonder

Antlers ... courier (Limited) (bdm at
rated three new sham for each sham held la that
tommuly„ which will be Jostled as follows, viz. :—Two
of !itch shares at a premium of I 3& 4d. per sham,

At the

and We ovweiiir;

at par.
will be tweed to the shareholders of the Crfdlt

"
num-
ber of shares in that Company now held by them.
uJ Stu es will be allotted at their option; to the share-
holders of the Credit Mobilier (Limited) ,being at the
rate at three new shares for each share held in that
Company), which will be issued aa follows, Hs.:—Two
of such shares at a premiam of IA 13• td per share,
and for every two shares ea taken one additional share

at .
'Joel* ?ham will be lamed to the public at a preseltua of
1.94. 4d, per share.

IN,thk)

...
The total premiums on the above mentlowed shares will
mount to £1130.000, which, with the sum of 440,000, the amount
d the reserve funds of the Credit Fonder ;limited;, and of the
(eidit )(chiller ,Limited', will be carried to the reserve hind of
C,, amalgamated Company, which will then amount to £301,000.
Tht amount to be called up, vie., Ed per share on the shares
limed at • premium, together with the C! IM 6d. per dude
fermium thereon, to be paid by the following instaissents :

n application it per sh.-aretio be carried 11 capital aecomat.
.10 allotment, g._ per share, of %Web ICI to be carried to capi-
il account and ZI to be carried to premium account.

luth December, ea 134 4,1. per shaie to be carded to premium
ccnout.

14th Febraary,lBls, £1 101. per stun to be owned to capitol
o..4tnt . .

lada, El Ha per share to be carried to capital
Anint.

- Ili, amount to be called up, via, Lb per share on the shares
hued at Far, to be paid as follows, viz. :
lot! Ffelifrly"l°, CPIIO4. per; share allotment, I
e 10tb :KU, Si 106:
per stare—which will be carried to capital account.
But as all the shares will participate in the neat dividend
tclared, pro rata, seeordhig to the amount paid up, the valuable
ovum has been reserved, enabling all aleee to pay up the
ainabuents immediately on allotment, or at any time la advance
of dlrir being due. up to 1.5 per share.

-71-;ioiif

nine fund

The followl
value of the

tilieitd-iiie!syttil will be 8.500,00 e, and the

torrent pril

rIII asouni to LYOO,WO.

----
lag Ls • comparative statement of the estimated
undermentioned therms as represented by the

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London. August V, 1116 a.
Temporary Offices. SO. Lombard-street.
To tbaBIIAREVOLDERS of the CREDIT MOBIL= Limited'.

prose ntiiiiiiitaccoMpaitiing balanoeeet,
It is a source of great satisfaction to your Directors to be able to
draw your attention to the figures th.rein stated, by which you
will see that the total net profits from the MU. March last (the
date the Company was established) to thti date, a period of five
months, atter paying off the whole of the prtlisoinary expenses,
amounting to £lO,OOO, as also all expenses of management,
Wailes, stationery, advertiaing, &c., amount to the stun of
£42,014 ICia. 2d, equal to 206 per cent per annum on the amount
of capital called up.
The Directors propose this amount to be dealt with as
follows: _

To lerOiing a mows fond
To payi a dividend and bonus of E 2 par share
tree of tat (equal together WU per cent
per annum!, which will absorb 40,000 0 0
To poring income tax Co dividend
The balance ,to be carried forward) azoonothig to 2,114 10 2

t 42.1114 10 2

)NXL)O
*al - ----
fogad and profitable in the several haunches for which
they formed. They would especially refer to the Imperial
Bank of, Ira, India, and Japan, whose shareholders will reap
an estalllished position ninth earlier than they could possibly
have expected, an amalgamation having been wronged for it
with an existing Bret-class bank, haring a similar field of opera-
Boss ; this has been successfully negotiated through the Influence
of =Wank&
r, also, of the Companies estabUalwid by us, and In which
we take a great interest, B The City Maw Company, which
(although, as is usual. Imitative schemes have since been Intro-
duced) premium' to till a want much felt in the City, and with
moat to its proprietary.
A loan of 4100,000, for Eve ;ears, on behalf of this latter Com-
pany, 6 cent per annum interest, has also been
successfully by your C meanies, and from the trUtt
tees yen to the bondholders of this loan, The
Fonder, In conjmuction with The Credit litobiller, had no hesi-
tation in complying with the request of The City Oases Com-
pany, to guarantee to the subscribers the due observance of its
engagements In respect of those bonds; the success of placing
the whole of this loan at 6 per cent. interest, when Its novelty
is considered, and the fact that the Bank rate has been 6 to 8 per
cent. dosing the whole time of offering the loan, speaks favour-
ably
ine for the orgenisation and lantern your Companies have
obtad.

The Directors, thus far, have spoken of the past : they are
happy In being able also to allude to the future in terms of great
contlience, having several very important negotiations and
transactions in which they have reason to believe will
produce highly p odfabie results.
Your Directors are glad to be able to announce having secured
gettable offices for the as lf and lg. Consign. on the
ground, lower and upper floors, the alterations and improve-
ments in which are now being made, sad will be completed by
4lf ichaelums self, wnere our business be transacted with the
convenience and regularity absointel/ usable.
The Direekes now wish to lass before the Share-
hoidens MY midaholealffilise thie sandal:lBoer is.,
tratertm,ferthe Directors, acting solar evident wilidi of Me
ol has made no seared MUM; own desire to amalga-
mate The Credit Fonder and The Credit Nobiller into one ppoower.
Cul mammy : wkieh,
betides removing tbe memory ef two
bodies of shmeholden being represented by the same directors
and manager Mil enable Me orgenhation of the whole to be
more economical ; the Ponder Branolt Mg Mamie] operations
In connection with land, and the Illobiller Branch for general
financial business, will, sa departments, however. be Mil Or
• Duct : and the Directors, in anticipation of this fusion, have
undertaken all operations as near as possible jointly, so as to
leave the media and liabilities as equal as parable. Etesoht-
tints to carry this amalgamation into effect will be submitted
to you Immediately after the ordinary meeting.
Your Directors farther, on the supposition that the share-
holders join with them in the desire to make the new amalga-
mated company second to none of the Scandal companies now
in existence, and with the wish to make it worthy of the title it
Is proposed It should have, via :—TBB MEM PONCIEit sad
YOBILIed of ENGLAND ,Linilted), have flied the capital at
L 2,000,000, in 100,000 shares of MO each, 'which the Dire toe,
propose haulm as follows, via : —OO,OOO shares will be issued at
par to the holders of and In exchange for the existing 10,000
Credit Fondle, and 10,000 Credit Alobilier sharer-10,000
shares to be issued to the holders of the 10,000 Credit
Fowler shares, being three new shares for one share new held
In that Company—which will be issued m follows, vis. : two of
such shares at L 2 13s. M. per share premium, and for every
two shares so taken one additional share at par
30,001 shares to be Issued to the holders of the 10,000
Credit Mobiller shares, being three new shares for one share now
held in that Company, which will be issued upon the same terns
as to the holders of the 10,000 Credit Fonder shares, vin.—two
Awes will be Mimed at L 2 12s et per share premium, and for
every two shares so taken one addltimal share at par—and the
remaining 20,100 shares to be issued to the general public at
L 2 if. Id. per share premium. This line will yield to premiums
the sum of £160,000, which, with the L 40,000 already put to the
reserve fund from ffids hail-years profits, will make that fund
amount to £200,000, or £2 per share on the whole 100,050 shares
which will then have been Issued. The instalments for paying
up the new shares are arranged to extend over a period of seven
mouths, so as to make the payments aa little burdensome as poe-
alble : but as all the leo,o 0 shares will participate in the next
dividend pro rata, according to the amount paid up, the option
has been reserved to the shareholders to pay up the Instalments
at any time, or at once, up to the L 3 per share. The paid-up I
capital will then amount to £300,003, and the reserve fund to
L20r,000 . and with this result the Directors believe they are
Justified In anticipating that the influence of the new Company
will be materially augmented.
The leading features during the pert half-year bare been the
high value of money, and the number of joint-stock companies
that have been introduced to the public. Various causes have
000tributed to the former, nor are any signs to be observed of a
probable return to murk lower rates; with respect to the
companies introduced, though undoubtedly they have been very
numerous, It is hoped that the majority of them are pros-
pering : and with respect to the capital absorbed by them,
it is believed that it has been subscribed by that Mc
class of investors who wish to participate in the higher rate
dividend tradhog companies with limited liability yield. as com-
pared with the old forms of investments, much the same, as no
doubt will be found to be the case If the Limited Private Partner-
ship Bill, introdaced to Parliament last session, should become
law next year. Nor Is It our opinion that the desire to share in
the capital of new companies Is spasmodical or speoulative ;
rather to give s of being a permanent change it seems
place In their views o investments by the middle ell:I:Wei
capitalists.
Your Directors, while on the subject of the future, cannot
Wow this opportunity to pass without reference to the premeds
before as la a memetary view, and whilst sharing the opinions
of those writers who look for an active demand for money during
the coming winter, they are satisfied that the worst times for
monetary institutions like ours are not those when periods of
tightness, distrust, and high rates for money are prevalent, 11
they have their funds well in hand, m on referring to the balance-
skeet you will and ours to he; the Direction being of opinion
that if the capital in the hands of a finance company be suffi-
ciently large for its undertaking a full return for capital may
then fairly be looked for, and the power of the capitalht (which
a well maimed company should ever represent will he then
appreciated alike to the convenience of those seeking as to the
profit of three lending capital: and though for the moment
financial companies may be called new institutions, the day is
assuredly drawing nigh when their vocation and position will be
as clearly defined and recognisd aa some time after their esta-
blishment were joint-stock
Lanka. .. . ..

The Directorslave the pleasure to announee that five patio.
men of great influence and high position have joined the bow d
of the amalgamated company, In addition to your present
Directors

The nceounta have been audited by F. Maynard, Esq., of
Bread-street, and W. B. Ford, Essi , auditor of the John-Mock
Discount Company, both public accountants of high repute.
In conclusion, your Directors wish to recall to the minds of
shareholders the words used by them in the original prospeetu
of the Crfdit Mobitler, In alluding to the prosperous results of
the then existing financial companies, including the Crfdit Yo
biller of Paris, which had then just declared 16 per cent. divi-
dend per annum. Then they thus expressed themselves
The Directors of the Crfdlt Mobiles. Limited, (your Com-
pany) anticipate with confidence that results equally aatiatac-
bThesnyllimat taut tend progress o
ho f this Coll think
they
bad
reason
for their cenlidence.—By order of the Board,
J. STUART WOHTLIT, Chairman.
JAJ( LBWICI, Deputy Chairman.
Landon, August rt. 1864.

rITENB and SONS, 78, Bishoppgate-st.Within.
IORIKIN and 131.171.811 831111 79.
0 irnperioribmilial.. as td., 10a ad., no, i3O. dd. per palls..
Brandy, Asa.... lib.. Ida.. Ms, Pale, 27a., 301. ditto.
Lam laintJaraalea
IYhlaky