The British Press; or, Morning Literary Advertiser.
London, England, 1825-04-23 00:00:00

BRITISH NORTH AMERICAN SHIP-BUILD-
ING CO3IPANY.
Capital 500,000/. in 10.000 Shares of 501. each.
CHAIRMAN—WiIIiam Thompson, Esq. Ala. M.P.
DEPUTY CHAIRMAN—Robert Gillespie, Esq.
DIRECTORS.

Andrew Belcher, Esq. }(art Logan, Esq.
John Chapman, Esq. Simon 51'Gillivray, Esq.
James Dowie, Esq. William Pratt, jun. Esq.
Philip Gowan, Esq. Chris. Richardson, jun. Esq.
Matthew Harrison. Esq. William Sikes, Esq.
AUDlTORS—Nathaniel Gould, Esq. and Alexander Gillespie, Esq.
BAxiens--31essrs. Sikes. Snaith, and Co.
The late severe losses sustained by the Shipping Interest of this
Kingdom, and the immense field opened to Great Britain for an
extended and increasing Commerce, by the enlightened policy of
our Government, have caused a corresponding and extraordinary
rise in the price of Ship-building.
Such, indeed, is now the demand for Vessels of all descriptions,
that many Persons, desired! of employing their Capital in Ship.
ping, cannot be supplied by the Builders with the tonnage they
require, except at very high prices, or under circumstances of delay,
often defeating the more immediate purpose of their speculations.
Is is therefore proposed to establish a Company, for the purpose
of building Vessels in British North America, on Contract and for
Sale, but it is intended, for the present, to confine the operations of
the Company to Canada only.
Immediate sales will be the object of the Company, but the
Directors shall be empowered to employ their shipping until dis-
posed of, and, in case of need, to purchase wood cargoes for the
purease of loading their vessels.
The various advantages to be derived by a Company, established
for the purpose of Ship-building in Canada, will not admit of detail
within the limits of a Prospectus ; but it may briefly be obaen•ed,
that, front practical experience, the following results may confi-
dently he anticipated.
Ist. The employment of a numerous and useful class of persons
in( the Settlement ; and by a beneficial diffusion of Capital and
Labour, an increase in the national importance of the Colony.
2dly. An ample remuueration to the Proprietors—who, inde-
pendent of the local advantages which will attend their undertak-
ing, may reasonably look to the favourable Hates of Exchange, and
the Freight in their Ships consigned to this country for Sale, as
sources of considerable and immediate Profit.
It remains only to add, that it is intended to construct Vessels
adapted for all trades and purposes, under the particular inspection
of the Company's Agents, by practised Shipwrights, and with such
due attention to the selection and seasoning of the Timber, as,
it is hoped, will materially improve the character of Vessels built
in Canada.
The Capital of the Company is 100,0001., raised in 10,000 Shares,
of 501. each, a portion of which will be reserved for Persons in
Canada desirous of becoming Share-holders.
Tae Affairs of the Company to be conducted by the Board of
Directors, who shall have the power of insuring their property,
and of snaking all necessary Regulations for the management of the
Company.
The property of the Company to be vested in the names of
Trustees.
A Deed of Settlement will be prepared under the ablest legal
advice, and the shareholders will be required to sign the same.
No Share shall be sold or transferred until after the payment of
all calls previously made ; and then only with the consent of two or
more of the Directors.
An Instalment of 5/. per Share, to be paid into the hands of the
Bankers to the Company forthwith, to the account of the Directors.
Due notice to be given of all further Payments ; which shall not
at any one time exceed M. per share.
All communications to be addressed to the Secretary, to whom
applications for Shares mbe made ; but no Tenders can be re-
ceived after Saturday, the 2d int.
W. OILKERSON, Secretary,
5, Gould-square, ('rutched Friars.