The Sun.
London, England, 1864-03-21 00:00:00

SOLICITORS.

London—Messrs. Fron,faliVam7,-urling, and Walls, Fre-
derick' -plate, Old Jewry.
„ Messrs. Flux and Arp.:les, Mincing-lane.
Liverpool -Messrs. Fletcher, Hull, and Stone.
Manchester—Messrs. Sale, Worthington, Shipman, and
Seddon.

MORERS.
London—Messrs. J. and J. Whitehead, Mo,rgate-street.
Liverpool—Messrs. Gasquoine and Chamberlain.
Manchester—Messrs. Shore and Kirk.

TEMPORARY OFFICE E 4.
21, Throgmorton-street, London.

PROSPECTUS.

While Exchange Banks aril Credit Institu'ions have been
established to connect this country financially with almost
every foreign market, and to give fact Pies for conveying to
our shores every descrii tion of merchandise, it is remarkable
that as soon as the operation of importing is performed the
monetary facilities are withdrawn. The bills drawn upon
our merchants mature, and must either be 'net by the mer-
chant's capital unaided, or by sales. '1 hug, when tempo-
rarily there is an excess of any commodity imported, its
price is undu y depressed, ands riou, losses are incurre
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 Banking Company is formed. The bu 4-
nese of the Company will mainly consist in making thrums
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 made in acceptances by the Com-
piny of the drafts of its, customers, and as every bill will re-
Present mer bandise readily convertble, and 13, at the same
time secured by tte whole ca, ital of a powerful Company, the
exact position lif which will be patent to all, there can be no
doubt that t:ne whole Dis cunt Market will be available when
it is dested by the holder to turn the bill into cash.
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 entire class, will be an equal con-
venience to bankers and aiscount firms, f urnishing 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, 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 irnpor's for the past year, which amounted (not to
speak of home produce) to over X 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 upon
Stocks and Shares, in permanent undertakings readily con-
vertible.

A ieTsonable proportion will always be maintained be-
tween the extent of business undertaken and the cal'ed-up
capital. Should it be necessary, the latter will be increased
to one million sterling, to b 3 invested as already indicated,
simply as a guarantee fund.
Branches will, in due time, be established at Liverpool,
Manchester, Glasgow, &c. &c.
The Directors will not receive any remuneration until the
shareholders have been paid £5 per cent. by way of dividend
on their paid-up capital. Atter payment of 5 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, and 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
revioe 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 less than the number applied for, the payment in excess
will be applied towards the balance of the deposit.

FORK OF APPLICA.TTON" FOR SHARES.
To be retained by the Bankers.
No.—
To the Directors of the Warrant Blinking Company
(L'inited).
Gentlemen,—Having pitd to your Bankers the sum of
being- a Depo it of .£1 per share on shares in the above
company, I hereby request that you wi'l allot me that num-
ber, and I iwyee to become a member of the Company in re-
spect of such shares, or in respect of any less nuts ber you may
al of me ; and to pay on alotment the further deposit of £4
p r share thereon, an reqest that my name may be placed
on the Register of Alcmbe s for the s ares so alloted.
Yame in full
Res deuce
Profession or business
Date

THE WARRANT BANKING COMPANY
(Limited)
NOTICE IS HEREBY GIVEN, that no further APPLI-
CATIONS for SHARES in this Company will be received
after THIS DAY, 310NDAY, March 21st.
By Order.
Temporary Offices, 21, Thromorton-sfrect,
London, Mardi 21, ISGI.