The Sun.
London, England, 1864-02-11 00:00:00

No. 22,349.

TZINAHAN'S LL WHISKY v. COGNAC,
BRANDY.
This celebrated Old IRISH WHISKY rivals the finest
FRENCH BRANDY,
It i Pure, Mild, Mellow, Delicious, and very Wholesome.
Sold in Bottles, 3s. Sd., at the Retail houses in London ; by
the Agents in the principal towns in England ; or wholesale
at

8, GREAT WINDMILL-STREET, W.
Observe the Red Seal, Pink Label, and Cork branded
Kinahan's LL Whisky."

REDIT FONCIER of MAURITIUS (Limited).
k..) Incorporated with limi,ed liability under the Com-
panies' Act, 1802.
Capital £500,000, in 10,000 Shares of £5O each. Payable on
allotment £2 per Share. It is contemplated that about £lO
per Share will be called up.
DI RECTORS.

LONDON BoAnn.
Colonel Balfour, C. 8., late Chief of Military Finance De-
partment of India, Director of the Land Mortgage Bank of
India.
Sir John P. Grant, K.C.8., late Lieutenant-Governor of
Bengal, and Director of the Land Mortgage Bank of India.
George Henry Money, Esq., 9, Berkeley-street, Berkeley-
square.
George Palmer Robinson, Esq., Director of the Alliance
Bank of London and i.iverpool.
Richard Spooner, Esq., Deputy-Chairman of the Bank of
Hind istan.
Lieut.-Col. F. A. V. Thurburn, late Deputy-Commissioner
of Revenue in Oude.
Henry Young, Esq., late Chief Secretary to the Govern-
ment at Bombay.
George Clerihew, Esq,, late Chief Medical Officer at
Mauritius.

MAURITIUS BOARD.

The Hon. Cthicourt Ante lme, Member of the Legislative
Council and Landed Proprietor.
The Hon. Henri Pitot, Member of the Legislative Council
and Landed Proprietor.
G. C. Bourguignon, Esq., Merchant and Landed Pro-
prietor.
Henri Plasson, Esq., Merchant and Landed Proprietor.
Volcy de Sennevill., Esq., Landed Proprietor.
LONDON AGENTS.
The Land Mortgage Bank of India (Limited).
BANKERS.

London—Alliance Bank of London and Liverpool.
Mauritius—The Chartered Mercantile Bank of India, Lon-
don, and China.

.SOLICITORS.
Messrs. Flux and Argles, Mincing-lane.
BROKERS.
Messrs. J. and A. Scrimg,eour, 10, Old Broad-street.
SECRETARY (o tem.)—Wm. GICCMC Dick, Esq.
Offices, Land Mortgage Bank of India, 17, Change-
alley, E.C.
The progress of Mauritius, as the chief seat of the produc-
tion of sugar by free labour, has been such as to create a
large and valuable landed property, which affords an excel-
lent field for the operation of a Land Mortgage Bank or
Credit Foncier.
The following table of the exports of sugar from Mauritius
gives the best pro ,f of this progress, and shows how firmly
the prosperity of the colony is now established :
Tons.
3850
1851
1852
1853
1854
1855
3856
1857
1858
1859
1860
The crop of 1861, owing to a hurricane, only produced
108,000 tons, but that of 1862 reached 160,000 tons,
This production tends every year to increase with the faci-
lities of obtaining labour from India, with extended cultiva-
tion and irrigation, and with the establishment of railroads,
which are in course of execution, and will be partially open
to traffic in the early part of this year.
At the present rate of production the annual value of the
sugar crop may be t,ken at £3,00 ),000, and the fee-simple
value of the sugar e ,tates at £6,000,000 ; in addition to which
there is a large amount of real property in lands, houses, and
other forms.
There is also great scope for useful outlay of capital in im-
provements on estates, by erecting new machinery, clearing
waste lands, and irrigating.
The rate of interest is exceedingly high, and a rate equal
to 10 per cent. per annum, or 8 per cent. interest, with 2 per
cent. commission, would be readily paid on loans redeemable
by annuities, and with a security never less than double the
advance.
It is estimated that a sum of L 2,000,000 might be safely in-
vested at this rate.
Supposing £1,000,000 only to be invested at a difference of
4 per cent. between the rate paid upon bonds in England and
received in Mauritius, it is evident that the profit on the
paid-up portion of the share capital, which would not exceed
£lOO,OOO or £l5O 000, would be very large.
The remainder of the share capital of £500,000, together
with the amount of first mortgages on first-class real pro-
perty, which would always equal the amount of bonds issued,
would thus give these bonds au unexceptionable security.
The legislation of Mauritius affords great advantages for
the establishment of a Credit Foncier,
It is the same as that of the French Code Civil, and a law
providing a simple and effective registration of all mortgages
has just been passed for the express purpose of facilitating
the establishment of Companies to lend upon land.
Under these circumstances an application has been made
to the Directors of the Land Mortgage Bank of India, on be-
halt of a large number of the principal members of the Legis-
lative Council and Landed Proprietors of Mauritius, to esta-
blish a branch there.
The Directors of the Land Mortgage Bank were of opinion
that Mauritius promised an excellent field of operations, but
as the nature of the properties and tenures of land are diffe-
rent from those of India, to which the original subscriptions
of their Bank were invited, it wai thought better to rare a
separate capital and constitute a new Company, which, while
connected with the Mortgage Bank by friendly relations,
should yet be a distinct institution. The close connection
between Mauritius and India renders this alliance peculiarly
desirable, and will be the means of securing valuable busi-
ness to the new Company, while the expenses of an office
and establishment in London will be diminished by mutually
advantageous arrangernen ta.
A deposit of £2 is payable on allotment, and calls by in-
stalments up to £lO per share will be made, after which it is
intended to issue Bonds.
The Articles of Association lie at the offices of the Solici-
tors for inspection.
Applications may be made in the annexed form, addressed
to the Offices of the Land Mortgage Bank of India (Limited),
Change-alley, or to the Brokers.