The Sun.
London, England, 1864-03-19 00:00:00

THE WARRANT BANKING COMPANY
(Limited.)
(you ADVANCES ON MERCHANDISE AND SECURITIES,)
Incorporated under the Companies' Act, 1861
Capital £4010,000, in 40,000 shares of £5) each.
F.rst Issue, 20,000 shares.
Deposit £1 per share on application, and £4 per share on
allotment. Future calls will not exceed XS 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.,
A.)church-lane, London.
W. J. It. Cotton, Esq., of Culverwell, Broo': s, and Cotton,
London.
A. D. Dc Pass, Esq., of De Pses and Sons, London.
Abel Heywood. Esq., ex-Mayor of Manchester, Director of
the Alliance Bank, Manchester.
George Harvey Jay, Esq , Tokenhouse-yard, late of the firm
of Quitter. Bali, and Jay, London.
Thomas Jolly, F.sq., of Thom a Jelly and Co , Manchester.
William M'Andrew, Esq., of William ft'Andrew and Sons,
London.
IT. 11. 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 R cardo, Esq., of A. and W. Ricardo, London.
William Rawstron, Esq., of Ralph Rawstron, Manchester.
nAwitzas,
London, Liverpool, and Manchester—The Alliance Bank.
SOLICITORS.
London—Messrs. Fron, Tathama. Curling, and Walls, Fre-
derick'. -place, Old Jewry.
„ Messrs. Flux and Argles, Mincing-lane.
Liverpool —Messrs. Fletcher, Hull, and Stone.
Manchester--Messrs. Sale, Worthington, Shipman; and
Seddon.

intoßEns.
London—Messrs. J. and J. Whitehead, Mo,rgatC.street.
Liverpool—Messrs. Gasquoine and Chamberlain,
Manchester—Messrs. Shore and Kirk..

TEMPORARY OFFICES.
21, Throginorton-street, London.

PROSPECTUS,

While Exchange BaiTil;anddreciifinstitufions have been
established to connect this country financially with almost
every foreign market, and to give fact tiles for conveying,. to '
our shores every description 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monetary facilities are withdrawn.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. Thus, when tempo-
rarily there is an excess of any commodity imported, its
Orice is undo y depressed, and s• rims losses are incurre
rdinary 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 bull-
nese of the Company will mainly consist in making advances
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 a'ceptances by the Com-
p iny of the drafts of its customers, and as every bill will re-
present merchandise readily convertible, and be at the same
time secured bythe whole ea, ital of a powerful Company, the
exact position of which will be patent to all, there can be no
doubt that the whole Die ount Market will be available when
it is desired 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 discount 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 BUM 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 a 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 upon
'stocks and Shares, in permanent undertakings readily con-
vertible.
A re 'sonable 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 be invested as already indicated,
simply as a guarantee fund.
Branches will, in due time, be established at Liverpool,
Manchester, Glasgow, &c. &c.
Tee Directors will not receive any remuneratien 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 net profits.
No promotion money will be paid for originating this un-
dertaking. The preliminary expenses will be confined to the
necessary disbursements.
Prospectuses end forms of application for shares may be
obtained of the brokers, bankers, solicitors, and at the tem-
umepboesrit allotted
ltebde
tem-
porary offices of the Company, but no application for shares
will be considered un'ess a deposit of £1 per share has b
payment i been
previoe ly p-id to the bankers of the Company,
In the event of no a lorment being made the d
returned without deduction, and should the n
be less than the number applied for, the
I will be applied towards the balance of the deposit. 11
excess

FORS! OF APPLICATION FOR SHARES.
To be retained by the Bankers.
No.—
To the Directors of the Warrant Banking Company
(L'rnited).
Gentlemen,—Ffaving paid to your Bankers the sum of
being a Der it of £1 per share on shares in the above
Company, hereby request that you will allot me that num-
ber, and I :tarn
of such sh to become a member of the Company in re-
spect ares, or in respect of any less number you may
arot me; and to pay on allotment the further deposit of
p r share thereon, and I reqest that my name may be plaeed
on the Register of heathers for the Si ares so alloted.
Name in full
Residence
Profession or business
Date

THE WARRANT BANKING COMPANY
(Limited)
NOTICE IS HEREBY GIVEN, that no farther APPLI-
CATIONS for SHARES in this Company will be received
after MONDAY next, the 21st instant.

By Order.
Temporary Offices, 21, Throgmortoll-Eireet)
London, March 15, 1801..