The Sun.
London, England, 1864-08-31 00:00:00

The Credit Foncier and Credit Mobilier
Companies.

Conjoint reports have been iosued to the shareholders of
the Credit Foncier and Credit Mobilier Companies respect-
ing the result of the operations since their establishment,
and also the proposal for their amalgamation. The balance
sheet of the Credit Fancier states that the total net profits
from March last reach the sum of £42,219 53 11d, equal to
180 per cent. per annum on the amount of capital called up.
The directors propose this amount to be dealt with as fol-
lows :—To forming a reserve fund, £20,000; paying a
dividend and bonus of £3 per share, free of income-tax,
(equal together to 84 per cent. per annum), which will
absorb £20,000 ; paying income-tax on dividend, £5OO ;
the balance amounting to be carried forward £1,719
Os 11d. The balancer sheet of the Credit Mobilier
from about the same period gives the net profits
at £42,611 lOs 2d, equal to 205 per cent. per annum on the
amount of capital called up. The directory propose this
amount to be dealt with as follows :—To forming a reserve
fund, £_'0,000; to paying a dividend and bonus of £2 per
share, free of income tax (equal together to 90 per cent. per
annum), which will uts:ab £20,000; to paying income tax
on dividend, £000; the balance, amounting to £2,114 10s
21, to be carried forward.

nThe new company is to be styled the Credit Fonder and
Mobilier of England with a fixed capital of £2,000,000 in
100.000 shares of £2O each, which the directors propose is •
suing as follows, viz.:---20,000 shares will be issued at par
to the holders of and in exchange for the existing 10,000
Credit Foncier and 10,000 Credit Mobilier shares--3),000
shares to be issued to the holders of the 10,000 Credit
Fonder shares, being three new shares for one share now
held in that company—which will be issued as follows,
viz. ;—two of such shares at £2 13s 4d per share preen.,
and for every two shares so taken one additional share at
par-30,000 shares to be issued to the holders of the 10,000
Credit DI obilier shares, being three new shares for one
share now held in that company, which will be issued upon
the same terms as to the holders of the 10,000 Credit Fonder
shares, viz., two shares will be issued at £2 13s 4d per
' share premium, and for every two Shares so taken one
additional share at par--•and the remaining 20,000 shares
to be issued to the general public at £2 13s 4d per share pm.
This issue will yield in premiums the sum of £160,000,
which, with the £lO,OOO already put to the reserve fund
from this half-year's profits, will make that fund amount
to £200,000, or £2 per share en the whole 100,000 shares
which will then have been issued. The instalments for pay-
ing up the new shares are arranged to extend over a period
of seven months, so as to make the payments as little
burdensome as possible; but as all the 100,000 shares will
participate in the next dividend pro rata, according to the
amount paid up, the option has been reserved to the share-
holders to pay up the instalments at any time, or at once,
up to tho £5 per share. The paid-up capital will then
amount to £500,000, and the reserve fund to £200,000; and
with this result the directors believe they are justified in
anticipating that the influence of the new company will be
materially augmented.