The Sun.
London, England, 1864-03-12 00:00:00

SOLICITORS

London—Messrs. Fy ani Walls, Fre-
derick' -place, Old Jewry.
„ Messrs. Flux and Argles, Mincing-lane.
Liverpool —Messrs. Fletcher, Hull, and Stoll,.
Manchester--Messrs. Sale, Worthington, Shipman, and
Seddon.

BROICERg.
London—Messrs. J. and J. Whitehead, 3ro rote-street.
Liverpool—Messrs. Gasquoine and Chamberlain.
Manchester—Messrs. Shore and Kirk.

TEMPORARY OFFICES.
21, Throgmorton-street, London.

PROSPECTUS.
While Exchange Banks ant Credit Institu ions have been
established to connect this country financially with almost
every foreign market, and to give fad ities for conveying to
our shores every descrli tion of merchandi e, it is remarkable
that as soon as the operation of importing is performed the
monetary facilitici are w,thdrawn. The bills drawn upon
our merchants mature, and must either be met by the mer-
chant's capital unaided or by sales. Thug, when tempo-
rani y there is an excess of any commodity imported, its
price is undu y deprt•ased, and s lion. losses are incurren.
Ordinary 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-
ledge, the Warrant Bank ng Company is formed. The bu I-
mes of the Company will mainly consist in making .dv,nces
upon deposit of the staple articles of produce, represented by
dock warrants or other means of absolute assignment, duly
inspected and v..lued on behalf of the Company, and with a
proper margin to allow for depreciation.
These advances will be male in a ceptances by the Corn-
p ny of the drafts of its customers, and as every bill will re-
nresent mer handise readily convert ble, and b at the same
time secured by the whole ca ital cf a powerful Company, the
exact position of which will be patent to al , there can be no
doubt that the whole Dis ount Market wil I be available when
it is desired by tho holder to turn the bill into cash.
It will be readily apparent that the existence of suh a
institution, while it will be of great service to meronantca, and increase the stability of the entre class, will be an equal con-
venience to ban k e,s and ale :oun t firms, f urn ishing them with
a class of bills ra•ely obtainable. In order to render the due
payment of the Company's acceptances certain, the Directors
undertake that the entire paid-up capital of the Company
will be invested, and, sofar as practicable, remain invested in
British and East Indian Government securities, and upon
deposit at call, ard it is proposed t hat the capital thus paid
up and invested within the first year shall reach the sum of
at least £200,103.
The 114:1 which exists for such an undertaking will 131 at
once apparent from a glance at the Board of Trade returns of
foreign impor s for the past year, which amounted (not to
speakaverageof'h stock of
to over £200,100,000. If we estimate
of for ig,n goods held in warehouse, as
equal to three months' oAisumption, it would represent an
amount of £50,000,000.
Advances may also be made when deemed advisable uron
Stocks and Shares, in permanent undertakings readily con-
vertible.
A re sonable proportion will always be maintained be-
tween the extent of business undertaken 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,
Manchester, Glasgow, &e.
Toe Directors will not rec-ive any remuneration unil the
shareholders have been paid £5 per cent. by way of dividend
on their paid-up capital. Alter payment of a per cent. the
Directors will mei% e one-fifth of the nett profits.
No promotion money will be paid for originatint,r this un-
dertaking. The preliminary expLnses will be confined to the
necessary disbursements.
Prospectuses
the and forms of application for shares may be
obtained of brokers, bankers, solicitors, and at the tem-
porary offices of the Company, but no application for shares
will be considered unless a deposit of £1 per share has been
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.

FORNI OF APPLICAT:ON FOR SIIARES.
To be retained by the Bankers.

No.—
To the Director; of the Warrant Banking Company
;L ratted).
Gentlemen,—
Having ptld to your Thinkers the sum of ,
being a Depo it of £1 per share on shares in.the above
Company, I hereby request that you will Hot me that num-
ber, and I ac),ree.to become a member of the Company in re-
spect of su h sh fires, or in respect of any less nur.i•ber you may
al or me ; and to pay on a lotment the further depo,it of £4
p r share thereon, ant I reqest that my name may be placed
on the Register of Alembeta for the s area so alloted.
/same in full
Res'clence
Profession or business ..
Date . I Lou ..... •4.4.11,1