The Sun.
London, England, 1864-03-11 00:00:00

THE WARRANT RANKING COMPANY
(Limited.)
(FOR ADVANCES ON MERCTIANDISE AND SEMI
Incorporated under the Companies' Act, 1502.
Capital !,,Ct ie,ooo, in 40,000 shared of each.
F rit Issue, 2n,W9 shares.
Deposit ..{.l per share on application, and £4 per share on
ationnent. Future calls Mill not exceed £5 per share, at
intervals of three months.

DIRECTORS.
Joseph Bravo, Esq., of J. Bravo and Co., Lond"n.
Archibald Bruce, Esq of the late firm of Bruce and Co.,
A.ttchurch-lane, London.
W. J. R. Cotton, of Culverwell, Broo' s, and Cotton, London.
A. D. De Vass, Esq , of De P.ss and Sons, London.
Abe, Heywood. Esq., ex-Mayor of Manchester, Director of
the Alit ince Bank, Manchester.
George Harvey Jay, Esq Tokenhouse-yard, late of the firm
of Quitter, Bat', and Jay, London.
Thomas Jolly, Esq., of Tuom s Jolly and Co , Manchester.
B. it. Marriott, Esq., of Henry Marriot and Co., Manchester.
George Palmer Robinson, Esq, Director of the Alliance
Bank, London.
Albert R cardo, Esq., of A. and W. Ricardo, London.
WWI 1"4 Rawstron, Rsq., of Ralph Rawstron, Manchester.

RANKERS,
Loudon, Liverpool, and Manchester—The Alliance Bank.
SOLICITORS
London—Messrs. Fy on, Tathanis Curling, and Walls, Fre
derick' Old J'ewry,
Messrs. Flux and 31incinz-lane.
Liverpool —Messrs. Fletcher, Hull, and Stow'.
Manchester--Ilessrs. Sale, Worthingtn, Shipman, and
Seddon.

BR OKER S.
London—Messrs. J. and J. Whitehead, Mo.sgate-street.
Manchester—Messrs. Shore and Kirk.
TEMPORARY OFFICES.
21, Throgmorton-street, London.

While Exchange Banks an IPROSPECrus. Credit Institu ions have bees
established to connect this country financially with almost
every foreign market, and to give fact it ies for conveying to
our shores every description of merchandi c, it is remarkable
that as soon as the operation of import ng is performed the
Monetary facilities are withdrawn The bills drawn upon
our merchants mature, and must either be net by the mer-
chant's capital unaided. or by sales. Thu 4, when tempo-
rari y there is an excess of any commodity imported, its
Price is undo y depressed, and s ricu losses are incurred.
Urdinary bankers and discount houses dislike making ad-
vances upon merchandise, having no organisation for exa-
Mining the goods and correct y estimating their value.
What they want are good bills, drawn on those who, know-
ing the value, have accepted for a fair advance. Division of
labour is here as elsewhere found to be most convenient and
profitable.
, To meet this want, which every merchant must acknow-
beri
ledge, the Warrant Bank ng Company is formed. The bu I-
a of the Company will mainly
,consist in making .dv flees
upon deposit of the staple articles of produce, represented by
dock warrants or other means of absolute assignment, duly
inspected and valued on behalf of the Company, and with a
proper margin to allow for depreciation.
These advances will be maue ia a cetances by
l) the Cora-
ny of the drafts of its customers, and p
as every bill will re-
bresent mer handise readily convert ble, and b at the same
time secured by the whole ca ital of a powerful Company, the
exact position of which will be patent to at , there can be no
doubt that the whole Die ount Market will be available when
It is desired by tin holder to turn the bill into cash.
It will be readily apparent that the existence of such an
institution, while it wilt be of great service to merchant., and
increase the stability of the cnt re class, will be an equal con-
venience to ban, c's and els .ount firms, f urhishing them with
a class of bills rarely obtainable. In order to render the due
payment of the Lompany's acceptances certain, the Directors
undertake that the entire paid-up capital of the Company
wi I be invested, and, so far as practicable, remain invested in
British and East Indian Government securities, a,.d upon
deposit at call, at d it is proposed that the capital thus paid
up and invested within the first year shall reach the sum of
at least .€200,4
The field which exists for such an undertaking will be at
once apparent from a glance at the Board of Trade returns of
foreign impor s for the past year, which amounted (not to
speak of home produce) to over £200,t 00,000. If we estimate
the average stock of for ign goods held in warehouse, as
equ 1 to three months' o.,nsumption, it would represent an
amount of £50,000,600.
Advances may also be made when deemed advisable u.7on
stocks and Shares, in permanent undertakings readily con-
vert.ble.
A re sonable proportion will always be maintained be-
tween the extent of business undertaken as d the cal ed-up
capital. Should it be necessary, the latter will be increased
to one million sterling, to be invested as already indicated,
simply as a guarantee fund.
Branches will, in due time, be established at Liverpool,
Alanchester, Glasgow, &c. dm.
T Directors will not rec ive any remuneration until the
shareholders have been paid £5 per cent. by way of dividend
Oh their paid-up capit .1. Alter payment of 5 per cent, the
Directors will re..ei, e one-fifth of the nett profits.
d_
ertakin No promotion moniy will be paid for originating this un-
g. The preliminary expenses will be confined to the
necessary disbursements
Prospectuses and forms of application for shares may be
obtained of the brokers, bankers, solicitors, and at the tem-
Porary offices of the Company, but no application for shares
-will be considered ma ess a deposit of £1 pershare has been
Previou ly p id to the bankers of the Company.
In the event of no a lotment being made the deposit will be •
returned without deduction, and should the number allotted
be 1 ss than the number applied for, the payment in excess
Will be applied towards the balance of the deposit,

FOR3I OF APPLICNTIONT FOR SHARES.
To be retained by the Bankers.

MI-

To the Director; of the Warrant Banking Company
tL mited).
Gentlemen,—Having p ;Al to your Bankers the sum of ,
being Uepo it of .f 1 per share on shares in the above
s(:omp any, I hereby request that you will llot me that num-
er, and I a4ree to become a member of the Company in re-
ect of su,h sh fires, or in respect of any less number you may
lal Or me ; and to pay on a'lotment the further deposit of £4
r share thereon, an I reqest that my name may be placed
on the Regis er of Alembet s for the s ares so alloted.

Name in full
Res.dence
Protess:on or business
Date

rpm ISLE of MAN RAILWAY COMPANY
C
(Limited)—DOUGLAS to PEEL. apital £lOO,OOO, in 10,000 shares of £lO each, with usual
borrowing powers. Deposit £1 per share on application,
lurther payment on allotment £1 10s. per share.
Samuel Gibson Gett DIRECTORS.
ysq. .
Wihiarn M.'Cormick,, EEsti MY. Londonderry, and
Regent's-park, London. **
Belfast
Richard A. Mould, Esq., Merchant, Liverpool.
T. Harrison Ridley, Esq., Merchant, Liverpool.
Joseph Rigby, Esq., Kea Surrey. With power to add to their number.

BANKERS.
The North and South Wales Bank, Liverpool.
Messrs. Dumbell, Soe, and Howard, Douglas.
ENGINEER.
G. W. Hemans, Esq., C. E., 13, Queen-square,Westminster.
Messrs. Littledale, RidIey,SOLICITO.
and Bardswell, Brown's. build-
itiga, Liver?onl,
Sdrauol Harris, Esq., Douglas.

ADITOR.
Thomas W. Read, Esq.U,
30. Castle-street, Liverpool.
SECRETARY.
Thomas Bagot, Eeq ,5, James-street, Liverpool.
BROKERS.
13. B. Drinkwater. Esq , 32, Exchage•st. East, Live
Charles Stanley, Esq., 3, Throgmornton street, Loudon.rp 001.
/.:d ward Ashworth, Esq., Exchange•chambers, Manchester.
J. Beverley, Eeq., Leeds.
This Company has been formed for the construction of a
Railway from Douglas to Peel (passing through St. John's),
in the Isle of Man. The improved trade of these important
towns, as well as the prosperous condition and increasing
Population of the island, and the rapid augmentation of the
xuraber of visitors during late years, call for the immediate
introduction of railways.
The Agricaltural capabilities of the Island are great; and
its Mineral products are acknowledged to be rich in yield
and avave average value ; whilst around the Coast there
are extensive Fisheries, and an unlimited supply of Sea•
weed for Manure. The expense and trouble, however, of
land-carriage, have hitherto rendered these advantages com-
Paratively unavailable.
Slate Quarries are in active operation; and the quality
of the Slate is equal in closeness of grain and durability to
any produced from the great Welsh quarries. The Granite
near St. John's compares favourably with that now used in
the Liverpool Dock Works, and would at once, by means of
railway facilities, become available for export.
One of the proposed Stations on the line mill be at St.
John's, where the Courts of Tynwald meet, and which is
Wee the centre of the Foxdale mining district. The produce
of these mines is now brcught by land-carriage (there being
no water communication) to Douglas, a distance of nearly
ten miles, whilst Coals and other important materials, as
well as all necessaries required by the inland population,
are Conveyed into the interior by the same mode. Besides
these items of traffic, the Fairs, which are frequently held
during the year in this district, must add considerably to
the annual revenue of the Company.
The principal towns are Douglas Peel, Castletown,
Ramsey, and Laxey : Douglas being the chief port, and the
great commercial depot, as well as the principal place of
arrival and departure of the steam packets plying to and
from the Island. At the port of Peel the fisheries are prin-
cipally conducted, employing upwards of 1,000 vessels;
the place of destination for the produce is Douglas ; the
route is tedious, and the transit by the existing means ex-
pensive.

- The access to the Island is easy, and the means of com-
munication with Liverpool, Fleetwood, Whitehaven,
Silloth, Glasgow, Belfast, Dublin, and other ports, both by
sailing and steam vessels, are frequent and convenient,
Hence, Tourists visit the Island in large numbers, above
100,000 passengers having been landed at its Ports during
the past year. Such Visitors, attracted by the antiquarian
relics, scenery, and other objects of interest, would, as a
matter of course, go by the proposed Railway from Douglas
to the interior, and across the Island to Peel.
The highest medical authorities bear testimony to the
salubrity of the climate and purity of the water. The
picturesque is united with the more solid advantage of cheap
living, provisions being abundant and comparatively inex•
pensive, whilst the rates of duties on foreign produce are eo
email as to render the Island most advantageous as a per-
Manent place of residenee.
Her Majesty's Government and the Local Authorities are
now expending upwards of £60,000, for the improvement of
the Ports of Douglas and Peel.
The Electric Telegraph to England has been recently
established.
The Lines of Rail will be single, with requisite sidings.
The length of Line will be about twelve miles, and the
gradon ients easy throughout. The landowners and popula-
ti along it are most favourable to the project.
From Statistics recently collected on the spot, with much
care, by competent persons, and well supported by Official
Returns, it is confidently expected that the Traffic wi:l re-
turn a good Dividend upon the Invested Capital, The fol-
lowing is an Estimate of the Traffic :
Passengers, inclusive of Tourists ...... £7,500 per annum.
Goods, Minerals, Fish, &c.
...
Parcels and Mails .... ... .....5,500
.............. 150

Ll 3
Working Expenses at even 50 per Cent,
6,600

—,.._
Leaving for Dividend

Plans, &ctione, Sz
forms are being e., of the Line are completed, and all
complied with, in accordance with
hecessar
the St: ding Orders of the Court of Tynwald to obtain an
Act of the Local Parliament.
Neither Imperial or Local Taxes are levied in the Island,
and those heavy charges which tend so much to reduce the
in England and other countries,
value of Railway property
no less than to diminish the Shareholders Dividends, can-
t intloin any degree whatever, prevail with respect to this

tL4,I eminent Contractor's firm have agreed to purchase
,ue land. make the Railway, provide and fit up all Stations,
'lrnish Rolling Stock for working the Line, and Telegraphs,
upon satisfactory terms. Interest at 5 per cent. per Annum
w 11 be allowed, until the opening of the Line, on the amount
liald upon shares.
ii,Au advantageous arrangement can be made with respon-
.le parties to Lease the Line for 7. 14, or 21 years.
„ Vorras of Application for Shares may be obtained from
tiAo SecretAry, Solicitor*, or broken of the COMPADY'