The Sun.
London, England, 1864-03-15 00:00:00

Ir.. WARRANT BANKING COMPANY
(Limited.)
FOR ADVANCES ON MERCHANDISE AND SECURITIES.)
Incorporated under the Companies' Act, 1862.
Capital £2,0 )0,000, in 40,000 shares of £5) each.
F.rst Issue, 20,800 shares.
Deposit £1 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.,
At,church-lane, London.
W. J. R. Cotton, Esq., of Culverwell, Broo' s, and Cotton,
London.
A. D. De. Pass, Esq., of De P 455 and Sons, London.
Abet Heywood. Esq., ex-Mayor of Manchester, Director of
the Alliance Bank, Manchester.
Geor,re Harvey Jay, Esq., Tokenhorse-yard, late of the firm
of Qu)lter, Ball, and Jay, London.
Thomas Jolly, Esq., of Tnom s Jolly and Co Manchester.
William M`Andrew, Esq., of William SPAndrew and Sons,
London.
H. R. Marriott, Fsri., 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 R cardo, Esq., of A. and W. Ricardo, London.
William Rawstron, Esq., of Ralph Rawstron, M oachester.
RANKERS,
London, Liverpool, and Manchester—The Alliance Bank.
SOLICITORS.
London—Messrs, Fy3on, Tathams, Curling, and Walls, Fre-
derick'. -place, Old Jewry.
„ Messrs. Flux and Araks, Mincing-lane.
Liverpool —Messrs. Fletcher. Hull, and Stone.
Manchester--Messrs. Sale, Worthingt,n, Shipman, and
Seddon.

11110KERS.
London—Messrs. J. and J. Whitehead, 3To rgate-street.
Liverpool—Messrs. Gasqnoine and Chamberlain. •
Manchester—Messrs. Shore and Kirk.

TEMPORARY OFFICES.
21, Throgmorton-street, London.

PROSPECrUS.

While Exchange Banks an I Creditnstitu'ions have been
established to connect this country financially with almost
every foreign market, and to g•ve faci Dies tor conveying to
our stores every descri, tion of merchandi e, it is remarkable
that as soon as the operation of importing is performed the
monetary facilitic are withdrawn. The bills drawn upon
our merchants mature, and must either be -net by the mer-
chant's capital unaided, or by sales. Thu•., when tempo-
rarty there is an excess of any commodity imported, its
price is undu y depr'ased, and s. rim • losses are incurre ‘.
Ordinary bankers and discount houses dislike making ad-
vances upon merchandise, having no organisation for exa-
minim* 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 Bank.ng Company is formed. The bu 1-
ness of the Company will mainly consist in making .dy 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 mate in a ceptances by the Com-
p any of the drafts of its customers, and as every bill will re-
nresont merhandise readily convert ble, and b' at the same
time secured by the whole ca ital cf a pcwerlul Company, the
exact position of which will be patent to al', there can be no
doubt that the whole Die ount Market will be available when
it is desired by tho holder to turn the bill into c dal].
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 ent•re class, will be an equal con-
venience to haul= ers and a irronnt firms, furnishing them with
a class of bills ra•ely obtainable. In order to render the due
payment of the i ompany'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,(00.

The field Which exists for such an undertaking will be at
once apparent from a glsnce at the Board of Trade returns of
foreign impor s for the past year, which amounted (not to
speak of home produce) to over £200,00,000. If we estimate
the average stock of for, ign golds held in warehouse, as
equ,l to three months' consumption, it would represent an
amount of £50,000,000.

Advances may also be made when deemed advisable u -on
'tocks and Shares, in permanent undertakings readily con-
vertible.

A re .sonable proportion will always be maintained be-
tween the extent of business undertaken it'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,
Mqnchester, G'asc,row, &c. &c.

Tm Directors will not rec ive any remuneration until the
shareholders have been paid £5 per cent, by way of dividend
on their paid-up capital. Alter payment of 5 per cent. the
Directors will revels e one-fifth of the nett profits.
No promotion mon, y 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
previou-ly p id to the bankers of the Company.
In the event of no a lot ment being made the deposit will be
returned without deduction, and should the number allotted
be 1 ,ss than the number applied for, the payment in excess
will be applied towards the balance of the deposit

FORA OF APPLICATION FOR SHARES.
To be retained by the Bankers.

No.-
To the Director: of the Warrant Banking Company
(L"mitedl,
lid to your Bankers the sum of
Gentlemen,--Fraving P
being a Pep° it of £1 per share on shales in the above
company, I hereby request that you will allot me that num-
ber, and 1 aeree to become a member of the Company in re-
spect of such shares, or in respect of any less number you may
al of me ; end to pay on a!lotment the further depa,•it of £4
p r share thereon, an f I reqest that my name may be placed
on the Register of Members for the s aces so alloted.
Name in full
Residence
• Profession or business •
plitO Ott ktttl, LW U., um.*