The British Press; or, Morning Literary Advertiser.
London, England, 1824-07-26 00:00:00

Good Irish Securities pill abso meet with the consideration of the
British Annuity Company, wherever they arc offers-Sin undis-
turbed and mercantile distnctstand the proprietors will now have
the opportunity, by means of this Company, of obtaining aloney,on
their eatate,s, which they hate hitherto been unable to precut,. sad
at low rates of Intelsat yet unknown in the sister kingdom., , •
To prevent unnecessary trouble to upplinnts, it is
state, that this Company does not advance money in pitrehipe of
annuities on mere personal security, but only of aanutues secured
on property.
It is therefore the opinion of the Directors of dins Coitimmy,
founded on investigation and evidence obtained from public r~sis,
as well as the ban possible sources of private information, that the •
Company will be enabled to invest the whole of its capital, and to
divide annually at least from 6 107 percent., beanies leaving a fund
for contingencies. For many years there have. been annually
effected and enrolledln London, on an averaget.l,soo annuities, be-
sides those secwsed on freehold property and copybold estates of
larger annual value than the annuities granted, and exclusive oL
annuities granted on land and other property in Scotland mod De-
land. The sum so invested in the purchase of atmnitieserithis '
the last three years. and enrolled in London, has been frosithru
millions and a halite) four millions surfing.
During this period, which hat been a time of peace, the rase plot
cent. obtained, after defraying Insurance, where nuerngels his
been fOrn 7 to 13 par tient., according to the nature of the enmi-
ties ; and it Is therefore confidently anticipated, that agycat public
Losignegorannatbst its brash equitable tocoss. hays
es to enables* to select the suet undeniable
securities, and is improve its capital niere advantageously than can
possibly be done by any Ovate individuals.
That the public wants strongly called for t'e establishment of
such a Company as the present, is evidenced from chi; immense
anionnt of business transacted in this way for many years past by
private agents.
There can, therefore, be no doubt that this Company, governed
by fixed principles, will obtain the preference, and be able ode's.
tageou.ly to invest any amount of capitaL Persons possessed of
good securities may now fairly calculate 011 just and liberal OW
duct, and an immediate advance of moncyaa loon as the securities
have been approved of by nsm the Diore professional uirisees
of the Company. This will ',invent any unpleasant publicity to
the transaction. Isourrod by application to private agents, who are
under the necessity of offering the meanies to numerous individuals,
who again discuss than with their advisee, in order to find persona
to advance the sum required. By applying to a „Board of 'Direc-
tors, the transaction is ands known to no persons, but confiden-
tially ; and only to them and their officers.
Money, by this Intitution, will be also advanced at • more
moderate rat and the liralitors will be exempted from vexatious
and exorbitant charges of every deuription.
To the Proprietors of this Company, the investments which they
have made cannot fail of becoming advantageous. In the first
place, it must be admitted that them is a greater advantage in in.
vesting money in annuities than in the public funds. in ceases
queue of the pesos* high peke of the stocks. l'he 3 pet Cents.
are now not far from !CPO/. in the market; and yet it is Only eight
years ago that they were at aboet iel. ; and is the rum of es wan,
or of any other tar favourable Withal entislogaorl, the slot in may
rapidly fall to COL again. A person, therefore, who now buy* trite
the funds, will not only obtain a very low interest for his capital;
but is subjected to the hazard of a lea of from 30 to 40 per cent. os
his investment. 'this risk *avoided by investing in Armulties ;
for whether they be paid off by the Grantee, or whether be die and
the money be received from the Insurance Office, the full original
capital is replaced.
A person having a few bandied pounds; which be wishes to in.
Yen in annuities, will do it to the best advantage by taking shares
be a public Company, as het cannot have such a competent know.
ledge of the business as to be able to decide on the aligibllity of the
securities which may be offered to hint. The best are fret
' quently fur large sums; and the benefit of these cannot be obtained,
but by taking a there in a Company which is able to advance the
money required.
To parsons of large property, it is also more advantageous to in.
east by the purchase of -shirrs, than in purchuing annuities
granted to themselves ; for a Board of Directors, habitually
pod in the tonsidaation of4ocurities, must necessarily, front their
experience, be able to judge of those offered them better. than any
individual. They have also the benefit of annloying professional
men, who have bad much experience, and wheat attention Is ea.
elusively devoted to this particular branch of business. If, also,
it should on any ontaiiiou enctr, that severity did not prise
good os was expected, thiloas being equally divided amseigst a
numerous proprurtavy, wool] be kids kit by any one, sad 'add
be tempi* recompensed by the moat on the other securities.
Then it a convenience in holding shares in • public Corn.
patty investing os annuities, which cannot be enjoyed by an indi.
vidual laying out kis money on annuities granted so himself, viz.
that when he has occasion fora sum of money, be has only to bring
as many of his shares to mar let as he may require, and sell them
with the same facility as any otncr stock. This he could not rel.
dily do with an annuity, or put of an annuity granted to himself,
and certainly not without considerable delay, expense, investige.
non, and actual loss. The selling of shares, on the other hand, is
a perfectly simple transaction, and they are at any time readily
convertible into cash.
A proprietor disposing of his shares may reasonably expect to
do so at a premium, from their securing him regularly a good di.
vstiand ; whilst an individual could not in any case expect a pre-
minni on an annuity granted to himself; as it is always liable is
be paid oft for the original sum invested, and there cannot be a ear.
taints- of immediately finding a new inuettnent. But capital in •
public Company, which will naturally have numerous applications,
may be kept in constant operation.
A fru!. share will consequemly be estimated by the partition.,
not merely at .O!. but as a security bringing in an annual dividend
from 31. to 3/. 10s. ; and the value set upon it will be is proportion.
Hence, the price of such shares will naturally rise in the same man.
Su as the share* of other public Companies which millet a similar
advantage.
The proprietor's private property In the British Annuity Corn.
parry will not be earned to any liabilities, as is the case in almost
all the joint stock Companies. This arises from the nature of Its
operations.
There are only two ways by which proprietors incur liability-
-Ist, to the Director" ; V.:, to the public. Liability to the BOIT.
tom is guarded against by the conditions on which the Cotnpany is
founed.and embodied in its deed of settlement. Liability to the
public is avoided by the nature of the Institution itself. Pur.
chasing 'nullities, as already explained, is merely laying out mo.
ney so as to bring in a larger return than by the ordinary mode of
loans.

By the Acts of Parliantent regelattne the purchase of ansuitim,
it is tequieed that when the transaction is completed, and the eked*
si.,•••ned, the whole purchase-mow:, even to the last farthing, shall
be paid down to the grantor.
As investment of capital in mating purchases Is the only trans-
action which the Directors can legally effect, there is no way by
which they can contract any debts to subject their own y,
and that of their co-sharehoklers, to any liability, exceptilten'Zrenthe
rent of offices, salaries, and other contingent expenses of manage-
ment. These must always bear so small a proportion to even the
annual income of the Company, that they cannot affect the capital,
much less involve any of the private property of the shareholders.
Who expenses of effecting money transactions in the form of an-
nunies, as well as in the form of mortgage, are defrayed by the
party raising the money. Hence the British Annuity Company
will have no charges to pay to Surreyoes, nor to the Solicitor and
Counsel, for investigation of theeltle, and making out the deeds.
As to the constitution of the Cpomeey, ha affairs are governed
by eighteen Directotrt and as th«, tut Court is reduced in num-
ba by death, resignation, diiqualiticatione. Or other eases, sew
ones will be elected by the proprietors. Five auditors, from the
great body of proprleters, are also elected by them ; and as arty of
the present number die, resign, or become disqualified, the vacancy
will be supplied. As to the calls which will be made for future in.
stalmeots, whilst they will be made as frequently as the demands
of the public, and consequently the prosperity of the Company re-
quire, yet the convenience of the proprietors will be consulted, not
only as to the amount, but also the periods of payment: How.
ever, it cannot be too distinctly enforced on the prourietors of this
Company, that whilst in Insurance Companies their prosperity is
indicated by only one all being made of a small amount, in this
Company its prosperity will be best evidenced by the directly op-
. poelte effect ; since, in proportion to the demands of the public for
money will be the amount of income; and if that amount be large,
and the income proportionate thereto, the dividend to the share-
holders will be greater, because the expense of the Institution will
be nearly stationary.
To the public this Institution will, it is hoped, be of considerable
advantage. When a person who possesses an estate or property in
any part of the United Kiegdom desires to obtain an advance
thereon by way of annuity, instead of being obliged to travel to
London, perhaps from a distant part of the country, at consider-
able inconvenience. he will merely have to vend to the Seeretary of
this Coltman): 10- A printed form, which will he supplied gratuit-
ously, indicntirg the noture of the property, the 4111111 required, and
such other particulars as will enable th. Court of Directors to con-
sider and determine on the business. If the general catore of the
security be approved, the Surveyors of the Company will then be
deputed to survey the property, provided the security offered be of
such a nature as to require it. and the expense of the survey will
be borne by the person applying for the advance. If the report of
the Surveyors b.: satisfactory to the Directors, they will then notify
their satisfaction to the applicant, and the abstracts of his title
multi be forwarded to the Solicitor of the Company, who, with the
Standing Counsel, will investigate the same. If the title be good,
the deed will he prepared, and the affair completed with certainty
and expedition; but if the title fie bad, then the espense of the
investigation must, as usual, be borne by the proposed grantor.
Ily this simple and intelligible process no unnecesiary delay will
• take place;—tier Shareholders will be 'inverted from all charge,
. which they oaelit not to sustain—and the public will be benefited
by an advantageous and speedy supply of capital on eligible terms.

As the business proposed to be transacted by this Institution