The Sun.
London, England, 1864-06-23 00:00:00

11117,11 at " Happy Land" can I see you after the
ill What
I only know of One HAPPY LAND
ltiwlueli a Gentleman may Sup—EVANS', COVENT-
ItbEtT, my dear fellow!

ISSUE of £300,000 MORTGAGE DEBEN.
TITRES 04z the CITY OFFICES COMPANY (Limited',.
onMred by Sp ecial Mortgage, being a first charge upon City
tit London Freehold andlon'g Leasehold Property ; and the
RaYMent. of both Principal and Interest guaranteed by
e refit Yonder (Limited) an I Credit Mobilier (Limited).

DIRECTORS OP THE CITY OFFICES COMPANY
11 (Limited).
'ane,
• Astley, Esq. (Messrs. Astley and C 0.),. Nicholas-
,hu
D 1
, as Dakin, Esq., Alderman, Abchurch-lane.
jrlea Eflis, Esq., Lloyd's.
xres Levick, Esq., Ring's Arms-yard.
r,_Ward Masterman, Esq. (Iles rs. Illasterman, Peters, and
b.r), London.
F' Warner, Esq., M.P.
i,G. Westmorland, Esq. (C. Joyce and Co.), London.
Ile Right Ron. James Stuart Wortley, London.
BANKERS.
The Agra and Masterman's Bank (Limited), Nicholas-
lane, E.C.
SOLICITORS.
Messrs. Hughes, Masterman, and Co., Bucklersbury.
Messrs. Edwards and Co., Westminster.
Messrs. Newbon, Evans, and Co., gicholas-lane, Esq.
BROKERS.
tlesqs. Laurence, Son, and Pearce, Lothbury, E.C.
Messrs. Field, S(,n, and Wood, 9, Warnford-court, Throg-
!iorort-street, E.C.
—"vssrs- Robins, and Barber, Threadneedle-street, E.C.
SECRETARY.
G. W. Benwell, Esq.

The PROPOSAL AND TERMS OF ISSUE.
Credit Fonder (Limited), in conjuctionwi h the Credit
Antler (Limited), are prepared on behalf of and as Financial
~elits for the City Offices Company (Limited), to receive
ti_troseriptions for 4300,000 of Mortgage Debentures at par.
7lnied hy the City Offices Company (Limited), in sums of
,PO, 4250, £5OO, or £i,ooo, bearing interest at 5 per cent. per
ilTn for five years ; at the expiration of which term the
--7„, M
terms aures wire ll be paid off at par.
he
2) Per Cent. on subscribing'.
20
20 ~ on Ist August The whole amount
20 " on Ist September. or may be paid at the
20 on Ist November. time of subscribing
~ on let January, 1365.
1100 Total.
ti The Bankers are instructed to decline all further Subscrip-
Ins When the sum of X,300,600 has been subscribed.
titereat at 5 per cent. per annum will be allowed on each
instalment%,, An from the date of payment thereof, but the whole
%,,ent. of each Debenture may be naid up on sfihmexibintir.
Will in that case interest on hie iull amount of the Debenture
mill render
from that date. Instalments not duly paid
render previous payments liable to forfeiture. Provi-
I°Zial Certificates will be issued until the last instalment be
when the Debentures will be given in exchange for
certificates ; where, however, the Debentures have been
paid in lull at once on subscribing, they will be delivered
Mediate y.

INTEREST—WHEN AND WHERE PAYABLE.
Warrants or Coupons for the interest will be attached to
Taeli Debenture, payable quarterly, viz., on Ist October, Ist
;,busy, let April, and Ist July in each year. The Coupons
m ,
kholas-1 11 be payable at the Agra and Masterman's Bank (Limited),
ane.

SECURITY.
-..13:11 the specific terras of these Debentures they will be a
•rybat Charge on the 'whole of the undermentioned propertie
12t the Company, the Company reserving to themselves full
-Powers of Leasity, and Management in such manner as they
Inay think beneficial.
-
lanel. The street, 05, 25A, 26, 27, in Clement's Lombard with Nos. 9, 10, and 11, in Nag's Head-
Zan, and 3,4, and 5, Church-court; the whole will form a
!!'lliftoelpc block of new Premises.
814• The 'well-known Leasehold block of New Offices, situ-
ed 27, Leadenhall-street, and extending. back to Lime-
-Btreet.. •
ipn square ;it has been erected within the last three years
ati•ll3, the designs of John Whichcord, Eso., and contains 120
lt-Class Offices, with four shops ,• has fire-proof corridors
stone staircases, and possesses the most modern
off £750 The lease is for 94 years, at a ground-rent of £750 per
aura.
,_3a. The handsome edifice erected within the last seven
rs, from designs by John Barnett, Esq., Archit
and 18, ectC, for
flossrs. John Sarl and Sons, and situated 17 orn-
Zi.e_ll, directly opposite the Bank of England. These premises
leasehold held for 60 years, at a ground-rent of £6OO per
,-, I. The new and substantial block of offices, situated No. 63,
threat Tower-street, near Mark-lane, erected within the last
Years, and built in the most substantial manner. It is
freehold , and contains 55 office , besides vaults.
j. one of the lare est blocks in the City, and is situate in
julu, oPsgate-street Within, opposite St. Helen's-place, and
„„ the centre adjoins Gresham House ; this property, when
;overed, will comprise the largest and most conveniently ar-
ange'l offices in the City. It is leasehold for 99 years, at a
mound-rent of £4,000 per annum.
bit. The F
te-sreehold property, adjoining the above property in
hopsgtreet
The VALUE OF SECURITIES.
whole of the properties, Nos. 1,2, 3,4, and 5
before-mentioned, have been purchased by the
In addition
Offices Company (Limited), for the sum of £365,000
to which they have since acquired No
o (and some other interests , say
•Locreased value by an estimated outlay for new
buildings in course of erection on sites Nos. 1,
5, and 6, and alterations to No. 3

£487,000

To Which add for additional contingent outlay,
w......

Making a total of £500,000

INCOME AND REVENUE FROM SECURITIES.
Of his sum £300,000 is the amount to be raised on mort-
14age Debentures, the remaining £:1 0,000 being provided by
,the City Offices Company out of Share Capital.
4he whole of the Properties are adapted,
and let, or to be let, for Mercantile and.
Banking Offices, &c., and the gross in-
c 3me. including the rentals of the New
Buildings in course of erection, is esti-
mated at £50,000 per annum
Deduct for Ground Rents and Sinking
Fund (on the Leasehold portion), In-
surance, &c., say ..

13,000

Leaving £46,000 per annum.
available as Securt y for the Interest re-
Suired on the £300,003 Debentures to be
issued ; the amount of interest so re-
quired at 5 per cent. Is
Xeavinr; a Surplus Income available for
QlTleAend on the £2O 00 Share Capital
. £31,000
GUARANTEE OF CAPITAL AND INTEREST.
In addition to the above-mentioned properties, and this
plc surplus, both in value and income, and the covenant
d,,cler seal in e ch Debenture by the es Company
attited) to duly pay both principal and interesti which cove-
nut is secured by its large uncalled capital, the punctual
,aYtnent of these Debentures will be further secured by the
gUltrantee of the Credit Fonder (Limited), and also of the
!cdit Dlobiller (Limited), endorsed under their corporate
''als on each Debenture.
These Debentures will be transferable in the same manner
_
railway debentures by ample transfer form.
ATECURITY E ANY TIME.
This will doubtless be apCONVERTIB preciLateii by those who, whilst
Reek].
ng a first-class home investment, free from risk or lia-
',Hay, are still desirous of having. their capital easily c-n-
-!ertible in case of need, and with a view to make them alike
4ura fable for temporary as well as permanent investments,
4Ppreation will be made to the Stock Exchange for their
quotation in the official list.

15,(00

SUMMARY OF SECURITIES.
The total guarantee to the Deben ure holders of this loan
Will be as follows :
Freehold and Leasehold Properties . .. £500,000
The City Offices Company (Limited), uncall-d
_ Capital
The credit Fonder (Limited), Capital
The Credit Mobilier (Limited), Capital 500,000

Thu Total 42,300,000
1„.. 8 making these Debentures an entirely unexceptionable
31,,tirit an whil colonial and forei investments are
ndany, t cue ugh, ast well secured 5 per cgenn t. English invest-
;Tit Is very scarce ; such a security, it is believed, is now
ered, and as such is specially adapted for trusteas, bankers,
stirance nmpanies, mercantile and private Investors.
Porms of Application are attached hereto, and may be had
at the Offices of the Credit Fonder (Limited), and the Credit
Mebilier (Limited), 80, Lombard- street; and of the City
Pirlees Company (Limited', 70, Comilla ; also of the Bankers,
.zolicitors, and brokers.
London, 21st June, 1861.

CITY OFFICES MORTGAGE DEBENTURES.
FORM OF APPLICATION.
To the Directors of the City Offices Company (Limited).
No
Raving paid to the Agra and Masterman's Bank (Limited),
re sum ci £ being 20 per cent. on £
in value of Mortgage Debentures of the City Offices Com-
iaPl (Limited), upon terms of the Prospectus attached hereto,
hereby subscribe for and accept such Debentures, and
4 ee to pay the iurther instalments as they respe:,tively be-
COlhe due.

I am, Sir, your obedient servant,
Signature
Name in full
Address
Date
t I request the amount may be made out in Debentures of
each.

BANKERS' RECEIPT.

(To be retained by applicant, after being signed by bankers.)

No
Received the day of 1861, on account of the
City Offices Company (Limited) (Mortgage Debenture Ac-
count), the sum of , beinz the amount required on
subscription for £ of City Offices Mortgage Deben-
tures.

X
For the AGRA and MASTERIAN'S BANK.