The Sun.
London, England, 1864-03-18 00:00:00

THE WARRANT BANKING COMPANY
(Limited.)
FOR ADVANCES ON MERCHANDISE AND SECURITIES.)
Incorporated under the Companies' Act, IEO2.
Capital £2,000,000, in 90,000 shares of £5l each.
F,rst Issue, 20,000 shares.
Deposit Zt per share on application, and £4 per share on
allotment. Future calls will not exceed £5 per share, at
intervals of three months.
DIRECTORS.
Joseph Bravo, Esq., of J. Bravo and Co., London.
Archibald Bruce, Esq., of the late firm of Bruce and Co.,
Abchurch-lane, London.
W. J. R. Cotton, Esq., of Culverwcll, Broo' s, and Cotton,
London.
A. D. De Pass, Esq., of De Pass and Sons, London.
Abel Heywood. Esq., ex-Mayor of Manchester, Director of
the Alliance Bank, Manchester.
Georire Harvey Jay. Esq-, Tokenholse-yard, late of the firm
of Qu'lter, Ball, and Jay, London.
Thomas Jolly, Esq., of Thom a .Tolly and Co , Manchester.
William McAndrew, Esq., of William McAndrew and Sons,
London.
IT. B. Marriott, Esq., of Henry Marriot and Co., Manchester.
William M. Neill, Esq., of Neill Brothers and Co., London
and Manchester.
George Palmer Robinson, Esq, Director of the Alliance
Bank, London.
Albert ft card°, Esq., of A. and W. Ricardo, London.
Willi. m. Rawstron, Esq., of Ralph Rawstron, M :nchester.
RANKERS,
London, Liverpool, and Manchester—The Alliance Bank.
SOLICITORS.
London—Messrs. Epson, Tathams. Curling, and Walls, Fre-
derick' -plale, Old Jewry.
„ Messrs. Flux and Arzles, Mincing-lane.
Liverpool —Messrs. Fletcher, Hull, and Ston,.
Manchester--Messrs. Sale, Worthington, Shipman, and
Seddon.

EROKERX.
London—Messra. J. and J. Whitehead, no-rpte-street.
Liverpool—Messrs. Gasquoine and Chamberlain.
Manchester—Ble,ers. Shore and Kirk.

TEMPORARY OFFICES.
21, Th,ogmorton-street, London.

PROSPECTUS.
While Exchange Banks an Credit Institu ions have been
established to onne t this country financially with almost
every f reign market, and to g ye fact ides for conveying to
our sr ores every descr tion of me.chandi c, 't is remarkab'e
that as soon as the operation of mport ng is performed the
monetary facilitie are w thdrawn The bills drawn upon
our merchants mature, and must either be -net by the mer-
chant's capital unaided or by sales. 'I hu when tempo-
ral.' y there is an excess of any co modity imoorted. its
price is undu y depn-sed, and s ri u losses are incurre
ordinary bin ers and discount houses dislike making ad-
antes pon merchandhie, 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. D vlsi nof
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-
-ness 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 valued on behalf of the Company, and with a
proper margin to allow for depreciation.
These advances will be nawie in acceptances by the Com-
p ny of the drafts of its customers, and as every bill will re •
oresent mer handles readily convert ble, and b at the sane
time secured by the whole ca ita of a pewerail Company, the
exact position of which w it be patent to al., there can be no
doubt that the whole Dis ount Market will be available when
it is desired by tit- holder to turn the bill into c..sh.
It will be readily apparent that the existence of such an
institution, while it will be of great service to merchants, and
increase the stability of the entre class, will be an equal con-
venience to bankers and ols-ount firms, furnishing them with
a class of bills rarely 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, so far as practicable, remain invested in
British and East Indian Government securities, and upon
deposit at call, and it is proposed that the capital thus paid
up and invested within the first year shall reach the sum of
at least £200,000.
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 £200,000,000. If we estimate
the average stock of foreign goods held in warehouse, as
equal to three months' consumption, it would represent an
amount of £50,000,000.
Advances may also be made when deemed advisable unon
stocks and Shares, in permanent undertakings readily con-
vertible.

A re qionable proportion will always be maintained be-
tween the extent of business undertaken at 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,
Manchester, Glasgow, ,te. Svc.

T is Directors will not reC,lve any remuneration until 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 receive one-fifth of the nett profits.
No promotion money will be paid for originating this un-
dertaking. 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, end at the tem-
porary offices of the Company, but no application for shares
will be considered un'ess a deposit of £1 per share has been
ly p id to the bankers of the Company.
In the event of no a Torment being:mad, the deposit will be
returned without deduction, and shou d the number allotted
be 1 ,ss than the number applied for, the payment in excess
will be applied towards the balance of the deposit.

FORII OF APPLICATION FOR SHARES.
To be retained by the Bankers.
No.—
To the Directori of the Warrant B;n1;:ing Company
mitecP.
Gentlemen,—Raving p; 'd to your Bankers the sum of ,
being a 1"epo P of .£' per she e on shares in the above
omp,ny, I hereby rec.est th.:t you wi7l ]lot me that num-
ber, and I a_rec to become a member of the Company in re-
wct of styli shares, or in respect of any legs nu ber you may
al ot me; and to pay on a lotment the further depo'it of £4
p .r share thereon, an I I reqest that my name may be placed
on the Register of Alembe• s for the s• ares so alloted.
Name in full
Res'dence
Profess!on or business
Date