The British Press; or, Morning Literary Advertiser.
London, England, 1824-08-21 00:00:00

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, an eniount as will mature the money advanced, and yield *femme
neretion tir its use.
God Irish Securities will also meet t hit the ennitideration dOlll
British Annuity Company, wherever they are offered io swift./
Curbed and mercantile districts ; and the proprietor will now hare
the opport•inite, by moans of this Company, otobeimitig stoney on
theiecauites, which they have hitherto been unable to procure, sae
at low rates of interest yet unknown in the slater kingdom.
To prevent unnecessary trouble to applicente. it is propmeostellee
that this Company does not advance money. in purefiaeeolamenilisn
on mere personal security, but only of annuities secured
It is therefore the. opfition of the Direetoes of this
se
founded on investigation and evidence obtained from pu
as well as the best possible sources of private Information, dist din
Company will be enabled to invent 'the whole of its cgll and tes
divide annually at least from A to 7 percent, besides bade a Ansa
for contingencies. b'or many yews- there have been anntaellr
effected and enrolled in London, on ancveratre.l,36o metatities, be.
sides those secured on freehold property and Copyhold estates of
larger annuul value than tfi_ annuities granted. and exclusive of
annuities granted on land and other property its Scotland and Ina
land. The sum so invested in the purchase of annuities within
the last three years, and enrolled in London, has been from threes
millions and a half to four iiiiltions sterling.
During this period, which has been a time of peace, the rate pee
cent obtainer, after defraying Insurance where necessary, raw
been from 7 to 13 per ern., accerd:ng to the nature of the enmi-
ties • and it is therefore confide:P.ly anticipated, that a greet public
Con;pany, transacting its buseicse on equitable terms, will have
such numerous offers as to enable it to Kelm the meat undeniable
securities, sail to improve its dapital fume advientageeasty than san
possibly be dew by any private ttJividhsM
That the public wants strongly caned for ti f eoehlishowest or
such a Ctunpany u the present, is evidenced front the intension
amount of business Mentacted in this way for meny years pier by-
private agents.
There can, therefore, lie no tioubt that thin Company, novaned
b 7 fixed grineiples, will obtain the preference, and be able advert.-
tagenuely to invest any amount of capital. Persia- e possessed of
peel securities may now fairly calculate on just and liberal cone
duct, and an immediate advance of money as soon as the seeuritint
have been approved of by the Directors and professional advisers
of the Company. This will prevent any unpleasant publicity to
the transaction. interred by applitatisin to private agents. who are
under the necessity of offerieg the securities to numerous individuals,
who again discus,. them with their advisers, in order to find persons
to advance the sum required. By applying to a Board of Direc-
tors, the transaction is made known to no isersons, but coafiden.
tally ; and only to them and their officers.
Money, by this Intitution, will be also advanced at a mo-e
moderate rate, and the Grantors will be exempted from ye:m.o.:it
and exorbitant charges of every description.
To the Proprietors of thin Company, the investments which they
have made cannot fail of becoming advantageous. In the first
place, it must be admitted that there is a greater advantage in ie..
westing money in annuities than In the public funds, in conse.
quenee of the present high price of the stocks. The 3 per Cents.
are now not far from led/. in the market ; and yet it is only eight
years ago that they were at about 60/. ; and in the event of a wa-.
or of any other unfavourable politit al contingency, the stocks may
rapidly fall to 601. again. A person, therefore, who now hues Min
the funds, will not only obtain a very low interest for his capital,
but is subjected to the hazard ofa low of front 30 to 40 per rent. OS
his investment. Teti, risk is avoided by investing in Annuities ;
for whether they be paid off by the Grantee, or whether he die and
the money be received from the Insurance Office, the full original
capital is replaced.
A person having a few hundred pounds, which he wishes to in.
vest in annuities, will do it to the beet advantage by taking shams
in a public Company, as he cannot have such a competent know.
ledge of the business as to be able to decide on the eligibility of the
securities which may be offered to hies The beat are fee-
quently for large sums; and the benefit of these cannot be obtained,
but by taking a share In a Company which ix able to advance tae
money required.
To persons of large property, it is also more advantageous to in.
vest by the purchase of shares, than in purchasing annuities
granted to themselves ; for a Board of Directors, habitually en-
gaged in the consideration of securities, must necessarily, front their
experience, be able to judge of those offered them better than at •
individual. They have also the benefit of employing professional
men, who have had much experience, anti whose attention is ex.
elusively devoted to this particuler branch of business. If, also.
it should on any °erasion occur, that a security did not prove so
goad as was expected, the Iros being equally divided amongst a
numerous proprietary, would be little felt by any one, and wou'S
be amply recompensed by the profit on the other securities.
There is also a convenience in holding shares in a public Com-
pany investing on annuities, which cannot lie enjoyed by an indi.
vidual laying out his money on annuities granted to himself, viz.
that when he has occasion for a sum of money, he has only to bring
as many of leis shores to enetket as he may requhe, and sell them
with the same facility as any other stock. This he could not ree-
dily do with an annuity, or part of an annuity pasted to blmseet,
and certainly not without considerable delay, expose, investiga-
tion, and actual loss. The selling of shares, on the other hand, is
a perfectly pimple transaction, and they are at ang dune Nastily
tonvertible into cash.
A proprietor disposing of hia shares may reasonably expect so
Nat prentunf, from their securing him regularly a good di-
Attend; whilst an individual could not in any case expect a pre.
mium on an annuity granted to himself; as it is always liable to
be paid off for the original sum Invested, and there cannot be a cer-
tainty of immediately finding a new investment. But capital in a
public Company, which will naturally have numerous applications.
may be kept to constant operation.
A 501. slime will consequently be estimated by the purchaser,
not merely at 50!. but ass security bringing in an annual dividend
from 3!. to 3!. 10s.; and the value set upon it will be in proportion.
Ilence, the price of such shares will naturally rise in the same man-
ner as the shares of other public Companies which realize a similar
advantage.
The proprietor's private property in the British Annuity Coen.
pang will not be exetl to any liabilities, as is the ease in almost
all the joint stock Companies. This arises from the nature ef ice
operations.
There are only two ways by which proprietors incur liability-
-Ist, to the Directors ; 2d, to the public. Liability to the Direc-
tors is guarded against by the conditions on which the Company is
formed and embodied in its deed of settlement. Liability to the pub-
lic is avoided by the nature of the Institution itself. Puchasing
annuities, as already explained, Is merely laying nut money so as tJ
bring in a larger return than by the ordinary mode of loans.
By the Acts of Parliament regulating the purchase of annuities.,
it is required that when the transaction is completed, and the deeds
signed, the whole purchase-money, even to the last farthing, shall
be paid down to the grantor.
As invesonent of capital in making 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 property,
and that of their co-shareholders. to any liability, exceptit g fur the
rent of offices, salaries, and other connegent expenses of manege.
mem. These must always bear so small a proportion to even the
annual income of the Company, that they cannot affect the capital.,
smelt less involve any of the private property of the shareholders.
The expenses of effecting money transactions in the form of an-
ass well as in the form of morisenge, are defrayed by the
party raising the money. Heeec the British Annuity Company
• ill have no charges to pay to eurveyom, nor to the Sol-icor and
Counsel, for investigation of the title, and making nut the deeds.
As to the constitution of the Company, its affairs are governed
by eighteen Directors ; and as the present ('ours is reduced in r.um.
ber by death, resignation, diequeldieatiore, or other causer, rew
ones will be elected by the proprietors. Fire auditors, front :he
great body of proprietors, are also elected by them ; tad a. eta of
the present number die, resign, or become disqualified, the Evearay
will be supplied. As to the calk which will be made for future In.
stalments, whilst they will be siesde as frequently as the demat s'o
of the public, and consequently tile prosperity of the Comp iny re.
quire. yet the convenience of the proprietors will be corsulted. net
only as to the amount, but slips the periods of }simmer.. floe.
ever, it cannot be too distinc.'" enforced on the proprietors of this
Company, that whilst in Insurance Companies their prosperity is
indicated by only one call being made of a small amelnt, in this
Company its prosperity sill be beet evidenced by the dustily oe.
pssite effect; since, in proportion to the demand. of the public for
money will be the amount of Prime; and if that amount he large.
and the income proportionate thereto, the divie,od to the 'here.
holders will be greater, becau.e the expense of the Institution 14.11
be nearly stationary.
To the public this Institution will, it is hoped, be of coneideretle
advantage. When a person who possesses an estate or property ite
any part of the h'nited Kimelorn desires to obtain an advance
thereon by way of annuity, instead of being obliged to travel to
Lordon, perhaps from a distant pert of the country, at ceneder.
' able inconvenience, he will merely have to send to the Secretary of
this Company for a printed form, which will be supplied eremite
ously, indicating the nature of the property, the sum reeeired, and
such other particulars as will entitle the Court of Directors to con.
sitter anti determine on the bu.ines.. If the general nature of the
security be approved, the Surveyors of the Company y3l then be
deputed to survey the property, provide,' the security offered be of
such a nature as re require it, and the execute of the survey will
be borne by the person applying for the advance. If the report of
the Surveyors be satisfactory to the Direetars, they will ihen near
their satisfaction to the applicant, and the &bonnets of h'e tithe
must be forwarded to the t3olieitor of the Company. who, with the
Standing Counsel, will investigate the same. If the title be good,
the deed will be prepared, and the aff:tir completed with certainty
and expedition; but if the title be bail, then the expense of the
investigation must, as usual, be borne by the proposed grantee.
By this simple and intelligible process no unnecessary delay wilt
take places—the Shareholder. will he protected from all charges
which they ought not to sustain—and the public will he beetled
by an advantagenas and speedy supply of capital on eine:dile tares,

As the business proposed to be transacted by this log:hada
must frequently conic through the hands of Snlicitara, ma eel
forma will be supplied at the otti?e. and the Directors will ha
wrr to receive proposals •o any amnunt, and will at all times
afford every cap/acation and assistance required.
JAMES MITCHELL, Secretary.
3G, Nor lkoad.etzect, London, July 19,184.