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

THE WARRANT BANKING COMPANY
(Limited.)
FOR ADVANCES ON MERCHANDISE AND SECURITIES.)
Incorporated under the Companies' Act, 1862.
Capital £2,010,000, in 40,000 shares of £sl each.
Fret Issue, 20,000 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.,
Abchurch-lane, London.
W. J. R. Cotton, Esq., of Culverwell, Broo' s, and Cotton,
London.
A. D. De Pass, Esq., of De PASS and Sons, London.
Abet Heywood. Esq., ex-Mayor of Manchester, Director of
the Alliance Bank, Manchester.
George Harvey Jay, Esq., Tokenhouse-yard, late of the firm
of gainer, Bali, and Jay, London.
Thomas Jolly. Esq., of Tnom .s Jolly and Co, Manchester.
William M'Andrew, Esq., of William M'Andrew and Sons,
London.
H. R. Marriott. Fsq., 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 It cardo, Esq., of A. and W. Ricardo, London.
Willi m Rawstron, Esq., of Ralph Rawstron, Manchester.
BANKERS,
London, Liverpool, and Manchester—The Alliance Bank.
SOLICITORS.
London—Messrs, lopon, Tathams. 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.

nnoxEns.
London—Messrs. J. and J. Whitehead, Mo,rglte-strcet
Liverpool—ffessrs. Gasquoine and Chamberlain.
Manchester—Meisrs. Shore and Kirk.

TEMPORARY OFFICES.
21, Throgmorton-street, London.

PROSPECTUS.

While Exchange Banks an I Credit Institulions have been
established to connect this country financially with almost
every foreign market, and to give fact fifes for conveying to
our shores every descri, tion of merchandi c, 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monetary facilities are withdrawn.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. 'llm,, when tempo-
rani y there is an excess of any commodity imported. its
price is undu y depressed, and s ri,u • 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 Bank ng Company is formed. The bu .1-
nese 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 behslf of the Company, and with a
proper margin to allow for depreciation.
These advan'cs will be ma le in a ceptances by the Com-
p .ny of the drafts of its customers, and as every bill will re-
present mer handise readily convert ble, and b at the sane
time secured by the whole ca ital cf a powerful Company, the
exact position of which will be atent to al', there can be no
doubt that the whole Dis ount Market will be available when
it is desired by th' holder to turn the bill into cash.
It will be readily apparent that the existence of ruch an
institution, while it wilt be of great service to merchants, and
increase the stability of the cot re class, will be an equal con-
venience to banoers and a is :ount firms, furnishing them with
a class of bills rarely obtainable. In order to render the due
paymer, t of the t 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 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 £200,100,000. If we estimate
the average stock of for, ign 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 u^on
: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 ba invested as already indicated,
strawy as a guarantee fund.
Branches will, in due time, be established at Liverpool,
M'nchester, G 'asgow, & Am
Tat- Direc ors will not rec lye any remuneration unlit the
shareholders have been p Lid £5 per cent. by way of dividend
on their paid-up capital. Aster payment of t per cent. the
Directors will receh e one-fifth of the nett profits.
No tromotion 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 tile tem-
porary offices of the Company, but no application for shares
id to the bankers of the Company.
will be considered nn'ess a deposit of £1 per share has been
PrlenvitVe eventlP of no a lot ment being made the deposit will be
returned without deduction, and should the number allotted
be 1 'ss than the Dumber 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 DireCtOr3 of the Warrant Thnking Company
flatted).
Gentlemen,—having p lid to your Bankers the sum of ,
being a Pepo it of .Ct per share on shares in the above
company, I hereby request I hat you will allot me that num-
ber, and I agree to become a member of the Company in re-
spect of such shares, or in respeot of any less nu r, ber you may
al or me ; and to pay on a'lotment the further deposit of
P r share thereon, an I I reqest that my name may be placed
on the Register of Mcrae, s for the s.ares so alleted.
ame in full

Res deuce _ .

Profession or business
Date . _ t. t tou••••.