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

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

CREDIT FONCIER of MAURITIUS (Limited).
Incorporated with limited liability under the Com-
panies' Act, 1862.
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.
DIRECTORS.
LONDON BOARD.
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., 0, Berkeley-street, Berkeley-
square.
George Palmer Robinson, Esq., Director of the Alliance
Bank of London and Liverpool.
Richard Spooner, Esq., Deputy-Chairman of the Bank of
Hindustan.
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.

PIfAIigITIUS BOARD.
The Hon. Udmurt 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.
llenri Plasson, Esq., Merchant and Landed Proprietor.
Yolcy de Sennevllle, 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.
Bitox ens.
Messrs. J. and A. Scrimgeour, 10, Old Broad-street.
SECRETARY (pro tem.)—Wm. Grceme Dick, Esq.
Offices, Land Mortgage Bank of India, 17, Change-
alley, E.C.
The progress of Mauritius, as the chief scat of the produe-
ion of sugar by free labour, has been such as t) create a
arge and valuable landed property, which affords an excel-
ent 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 proof of this progress, and shows how firmly
the prosperity of the colony is now established :
Tons.
1850
1851
1852
1853
1854 85,011
1855
1856
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 taken at £3,00 1,000, and the fee-simple
value of the sugar estates 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 readilypaid on loans redeemable
by annuities, and with a security never less than double the
advance.
It is estimated that a sum of £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 £150,000. would be very large.
The remainder of the share capital of £500,000, together
with the amount of first mortgagee on first-class real pro-
perty, which would always equal the amount of bonds issued,
would thus give these bonds an 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 CivC, 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-
half 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 opin'on
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 :vat thought better to rare a
separate capital and constitute anew 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 thy expensesoffice
an d establishment in London will be diminished by mutually
advantageous arrangemen ts.
A deposit of £2 is payable on allotment, and coils 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.

FORM OF APPLICATION FOR SHAM'S.
To the Directors of the Credit Foncier of Mauritius (Limited).

Gentlemen,
I hereby request that you will allot me Shares
in the above Company, subject to the Memorandum and
Articles of Association, and I agree to become a Member of
the Company in respect of such Shares, or in respect of any
less number you may allot me, and to pay the deposit of £2
per Share thereon; and I request that Inv 'nine may be
placed on the Register of Members for the Shares so allotted.
Name in full
Residence
Profession or Business . ••
Date
Reference

THE CITY MERCANTILE CLUB and
DINING HALL COMPANY (Limited).
(Incorporated under the Companies Act, 1862.)
Capital, £BO,OOO, in 8000 shares of £lO each.
Deposit, D. per Share on application, and £1 on allotment,
Should no allotment be made the deposit will be returned
in full.
DIRECTORS.
Captain Capel Coape, Army and Navy Club.
John Sainsbury Davenport, Esq. (Deputy Commissary
General), Clarendon Lodge, Brighton.
Thomas Shann Derham, Esq. (of the firm of Wilkinson
and Co.), flax spinners, Leeds.
Frederick Augustus Legg, Esq., The Willows, South
Norwood.
Thomas Hardwick, Esq., Moorland-terrace, Leeds.
Thomas King, Esq., 23, St. Paul's-grove, Canonbury.
David Fraser Luckie, Esq. (Director of the City and County
Assurance Company), 26, Ashley-place, Victoria-street,
Westminster.
John Theodoridi, Esq., Merchant, Great Winchester-
street, Broad-street, City.
Captain Arthur Palliser, Oriental Club.
With power to add to their number.
BANKERS, The London and County Bank, Lombard-
street, City, and Hanover-square.
SOLICITORS.
Messrs. Tippette and Son, 2, Sise-lane, Bucklersbury, City.
Messrs. Upton and Yewdall, Leeds.
SECRETARY (pro. tens.)—Mr. J. W. Tempest.
Temporary Offices-24, Bucklersbury (two doors from the
Mansion House.)
In introducing the City Mercantile Club and Dining
Hall Company to the public the Directors have pleasure in
knowing that they are supplying a great public want, it
being universally admitted that—
A Club adapted to the constantly increasing growth and
requirements of the commercial and mercantile world of the
City of London, and
A higher class public dining and refreshment hall are
greatly wanted.
The Club, with its private dining, reading, and smoking-
rooms for the exclusive use of members, will be conducted
under the management of a committee. strictly upon the
principles of similar establishments, with a small entrance
fee and subscription, and a moderate dining-room tariff,
adapted to the views of menof the commercial world. The
establishment will contain from 30 to 40 bed •loorns.
Holders of ten shares and upwards will (subject to the
ballot) be admitted to the membership of the club, without
entrance fee,
The public dining halls will be on a scale worthy of the
City, and capable of comparison with any establishment on
the Continent.
Tho Directors have purchased in one of the best and most
central situations in the City, in close proximity to the
principal places of business, a magnificent range of buildings
(recently erected under the superintendence of an eminent
architect) in the centre of Cheapside, having nearly 30,000
feet of floor space, and pre-eminently adapted to the re-
quirements of all branches of the proposed establishment.
It will be for the consideration of the Directors whether
it is desirable to let off the ground and basement floors, the
residue of the premises providing ample space for the re-
quirements of the undertaking, and should these floors be
so lot off they will alone command a rental sufficient to
guarantee a substantial dividend upon the paid-up capital.
The Directors have carefully considered the probable
profits and returns of this undertaking, and their most
moderate calculations show a dividend of from 30 to 40 per
cent.
The Directors congratulate themselves on having secured
the invaluable co-operation of several gentlemen whose
practical knowledge and experience will be truly desirable.
In consequence of a large amount of shares having been
already applied for (and a most encouraging number of
applications made for Club membership),the Directors are
compelled to add that the list of applications for shares can
remain open for a limited period only. In the meantime
applications for the unallotted shares must be made to the
Solicitors or Secretary; the required deposit having been
previously paid to the Bankers of the Company.
The Articles of Association can be seen at the Company's
Offices.