The Sun.
London, England, 1864-09-12 00:00:00

MADAME TUSSAUD'S HISTORICAL
GALLERY; established 28 years at the Bazaar,
Baker-street

NEW ADDITION. A full length portrait model of
DR. COUTY DE LA POMMERAIS, the Poisoner, taken
from the original photograph, by Mons. Trinquart, of Paris,
from life, is now added to the Chamber of Physiognomy.
Admittance, ls. ; Napoleon Rooms and Chamber of Horrors,
6d. extra.
Open from 11 in the morning till 10 at night.

ARGYLL ROOMS, Windmill-street, Piccadilly,
entirely re-decorated, are now OPEN for the Winter
Season, with all the new novelties of Dance Music.
Conductor—LUlGl CURTI.
Admission—Promenade, One Shilling.
Interpreter and Manager—M. GRENET. Proprietor—K. R.
BIGNELL.

Branches in Scotland.
SOLICITORS.—Messrs. Newbon, Evans, and Co., Nicholas-

lane, B.C. -
BROKERS.
Messrs. Laurence, Son, and Peace, Lothbury, E.C.
Messrs. Field, Son, and Wood, 9, Warnford-court, Throg-
morton-street, B.C.
Messrs. Robins and Barber, 29, Threadneedle-street, E.C.
Messrs. Horafall and Penny, I
La,- • ,
.
Messrs. Tod and Ashton, j Liverpool.
Messrs. Shore and Kirk, Manchester.,
SECRETARY (pro tern.)—Alfred Lowe, Esq.
Temporary Offices-80, Lombard-street, E.C.
PROSPECTUS.

This Company is an extension of the Credit Fencier
(Limited) and of the Credit Mobilier (Limited), which
were established, the former for financial business in con-
nection with land, the latter for general financial opera-
tior s.

The unexampled success achieved by those companies,
whose reports, just published, show the amount of net pro-
fits, upon a paid-up capital amounting jointly to £lOO,OOO,
to be at the rate of upwards of 191 per cent, per annum, and
who have each declared a dividend and bonus of £2 per
share on £5 paid for less than six months' working, besides
carrying £40,000 to the reserve fund, and the enormous
accession of business of both companies render it absolutely
essential to increase the capital, and thus enlarge the Was
of their operations.
With this view it has been determined to found the pre-
sent powerful institution, which will absorb the two com-
panies, and will take over the whole of their assets, includ-
ing their united reserve fund, amounting to £lO,OOO, and
will also of course assume their engagements, and the Di-
rectors believe that the increased means the issue of new
capital will place in their hands will enable them to effect
even greater results than have been already achieved.
The distribution of the shares will be made in the follow-
ing manner, by which it will be seen that a liberal propor-
tion has been appropriated for allotment amongst the general
public.
10,000 shares will be issued to the Shareholders of the
Credit Foncier (Limited) at par, in exchange for
the like number of shares, now held by them.
30,000 shares will (at their option) be allotted to the
Shareholders of the Credit Foncier (Limited)
(being at the rate of three new shares for each
share held in that company), which will be issued
as follows, viz, :—Two of such shares at a pre-
mium of £2 13s. 4d. per share, and for every two
shares so taken one additional share at par.
10,000 shares will be issued to the Shareholders of tha
Credit Mobilier (Limited) at par, in exchange for
the like number of shares in that Company now
held by them.
30,000 shares will be allotted (at their option) to the
Shareholders of the Credit Mobilier (Limited)
(being at the rate of three new shares for each
share held in that Company), which will be issued
as follows, viz , two of such shares at a premium
of £2 13s. 4d, per share, and for every two shares
so taken one additional share at par.
20,000 Shares will be issued to the public at a premium
of £2 13s. 4d. per share.

100,000
The total premiums on the abovementioned shares will
amount to £160,000, which, with the sum of £40,r,00, the
amount of the reserve funds of the Credit Foncier (Limited)
and of the Credit Mobilier (Limited), will be carried to the
reserve fund of the amalgamated Company, which will then
amount to £200,000.
Tne amount to be called up, viz , £5 per share on the
shares issued at a premium, together with the £2 13s. 4d.
per share premium thereon, to be paid by the following in-
stalments :
On application, £1 per share to be carried to capital
account.
On allotment, £2 per share. of which £1 to be carried to
capital account and £1 to be carried to premium
account.
10th December, £1 13s. 4d. per share to be carried to
pretilium account
10th February, 1865, £1 10s. per share to be carried to
capital account.
10th April, 1865, £1 10s per share b be carried to capital
account.
The amount to be called up, viz., £5 per share on the
shares issued at par, to be paid as follows, viz. :
On application £1 per share ; on allotment £1 per share ;
10th February, 1865, £1 10s. per share; 10th April,
1865, Li 108. per share, which will be carried to capital
account.
But as all the shares will participate in the next divi-
dend declared, pro rata. according to the amount paid up,
the valuable option has been reserved, enabling all allotteca
to pay up the instalments immediately on allotment, or at
any time in advance of their being due, up to £5 per share.
The total amount of paid-up capital will be. 1500,00), and
the reserve fund will amount to £200,000.
The following is a comparative statement of the esti-
mated value of the undermentioned shares as represented
by the current prices on the Stock Exchange, viz. :

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It will thus be seen that the average value (as represented
by the price of the shares) of the above-mentioned four
Companies is £3 4s, premium per share, alter deducting (if
any) the reserve fund ; the pi ice of issue of this Company's
new shares to the public is £2 I%s. 4d. premium, from
which, after deducting the amount of this Company's re
serve fund, equal to £2 per share, leave the share costing
only 13e. 4d. premium against £3 4s. premium, the average
price of the four companies before referred to, leaving a
bonus to the public of £2 10s. Bd. per share : but, taking
the premium of the last-mentioned company as the most
analogous to this Company, it having been amalgamated
only two months, it will be seen that their price of £3 10s.
per share (which is far below their intrinsic worth), added
to the £2 premium in this Company's reserve fund, gives
£.5 10s. per share, or £2 16s. Bd. bonus on the price of
issue.

The above prices are quoted as they are given in the Stock
Exchange List, but it is generally admitted that they by no
means represent the full value of the different shares quoted,
the pries of which ought to, and will doubtless be, much
higher.

Applications for shares may be made in the form annexed,
and roust be accompanied by the payment of £1 per share,,