The Sun.
London, England, 1864-03-18 00:00:00

THE CITY OFFICES COMPANY (Limited),
Incorporated under " The Companies Act, 1862."

The MERCANTILE CREDIT ASSOCIATION, Limited,
in conjunction with the CREDIT FONCIER, Limited, are
prepared to RECEIVE SUBSCRIPTIONS for the CAPI-
TAL of the CITY OFFICES COMPANY, Limited.

Capital £1,010,000, in 20,000 Shares of 450 each.
Deposit on Application £1 per Share, and £1 on Allotment.
Calls net to exceed £5 per Share, and at intervals of not less
than three months.

No Call to be made until after the expiration of Three
Months from the date of Allotment.

It 'a not Wended to call up more than £2O per Share ; but
when it is found that more 'hare Capital can be adv inta-
geously employed, power will be taken to increase the Capi-
tal, a preference b ing given to the then existing Share-
holders.
DIRECTORS.
FL P. L. Astley, Eeq., (Messrs. Astley and Co.), Nicholas.

lane.
Thomas Dakin, Esq. (Alderman', Abehurch-lane.
Charles Ellis, Esq., Lloyds.
James Levick, Esq., K ng's Arms-yard.
E +ward M sterman, Esq. (Messrs. Masterman, re:era, and

Co. , London.
Edward Warner, Esq., &LP.
F, G. Westmorland, Esq. ( Meagre. Joyce and Co.), London.
The Right lion. James 6tuart Wortley.

BANKERS.
Messrs. Masterman, Peter', and Co., London.
SOLICITORS.
Messrs. Edwards and Co., Westwi ster.
Messrs. Newbon, Evans, and Co., 2g, Nicholas-lane.
Messrs. Hughes, Masterman, and Hughes, B.cklersbury.

BROKERS.
Messrs. Laurence, Son, and P arce. Bar'holomew-line, E.C.
Messrs. Robins and Barber, Threadneedle-str.et.

AUDITORS.
S. Lowell Price, Esq., PuDli Acco ,ntant. 5, Gresham-street.
Frederick Maynard, Esq., Public Ac.touutant, le, Bread-
street.

SECRETARY.
G. W Benwell, Esq.
TEMPORARY OFFICES.
The Offices of the Mercantile Credit Association, Limited,2l,

Threadneedle-street.

Of all securities or pro oerty that can come u- der the deno-
rniaation of "first-class," both or stability as well as n -
creasing i a value year by year, none can at all compare w th
Freelipld or long. Lease old city ot Lon on operty, cape-
cia ly that port • n s tuated within a adi,is o I,iioo yards of
the Bank of Engla-,d ; this fact is so well known that the
greatest competitio is excited when any pr perty o his de-
s,ription a oil red in the market, la•- e • s ti:e rise k
valu of su'h property has been d .rag the last few y: ars, it
is admitted by all :funve sant with the subject hat a still
greater 'nen ase must co tinue to take place, from tie im-
possibility of supplyin the suit be a.! oaimodation re-
quired
by joint-stock companies and commercial and ty ofes-
sio • )firms
The C ty Offices Company, Limited, lave aareed for the
purchase of the undermentioned sites of land, with the build-
ings thereon; hich, for eligibility of situation it;id size of
each block, are such as can rarely be acquired—as the follow-
enumerat n will amply p ove ; they ..re in five blo ks,
viz : -A, B, C, D, E
Block A cousists of the Freehold Premises, 25, 25A, 26, 27,
n Clement's-lane, Lomba d-street, with No. a, 10, and 11, .n
Nag' • He •d- .ourt. a d 3,4, and 5, Church-o'mq, the whole
forming a magnificent block of premises, with lights, and
entrances on thre, sides, and extending back to Gracechurah-
street ; it has 63 feet f outage and 150 de; th, and contains
i),900 square superficial feet, and is the largest block so
near Lombard-street the: has been in th - market for some
years.
ilßlock, 13 consi is of the. wl-known Lea ehold block of
New Offices, situated 29, Leadenhal -street, nearly op-
posite the Peninsular and Ori n:a Company's Office, and
exteniing back o Lime-street-square ; it has been erecied
with .n the est three Tars, from the designs of John Which-
cord, E q., a d contains 120 firs -class Offs es, with Pout
Sho,s, the who e ,et to first-c.ass Merchants and other,;
;t ha fire-proof corrid rs and stone st ireases, an I possesses
the most modern i eproverne.nts, including Telegraph Sta-
tion, Buffet, eze., in the build intr. The lease is for 9i ye .rs, at a
ground-rent of £7OO per annum; it has a frontage of ao feet,
and 170 feet in depths and contains 12,0,0 squire superficial
feet.
Brock C consists of the h itdsofne ed flees erected with!n
the !alit seven years, from tt-614tis by John B:rnat, Esq.,
archit ct, for M2sisra. John S'arl and Sons, si versiniihs, and
situatedl7 and 18, Corehi 1, directly opposi e the Bank of
long and, and alike for e'eg,atise of building as well as itua-
ten erhaps the most desirable In the City. With a very
trifling outlay thee in accord axe wito the plans and designs
originally m4c e, will be converted in about thr,,e wce!.:s in:o
Offices, and two-thirds of the building has a ready been let,
the ground floor and mez nine floor bang rented by the .
Credit Mobiiier and Credit Foncier Companies. These Pre-
mises are Leasehold fur V years, at a ground-rent of £ooo
per annual.
Blocs D 'consists of the now and substantial block of
Offices, erected within the last three years, and are built in
the most übstan: manner. It contains fifty-five offices, be-
sides vaults, the whole, exc. pang four, being let, and offers
being made for these. It is Freebnd, has a front age ot 52
feet and depth of 8o feet, and contains 4,160 superticial square
feet, and is aiiu ned a: 6r, Great Tower-street, pea' Mark-
laL e.
Block E is the largest block in the City; it is situated in
Bishopsgate-street, opposite St. Helen's-Place, with a
thorou hfsre to be got through to Old Broad-street, and in
the centre of the block adjoins Gresham House ; it contains
25, 00 square feet. It may be convenient to give an idea ot
the size of this fine site of land, to say that it is more than
four iimes the size of the Auction Mart, lately sold, and when
covered will be among the largest and most conveniently ar-
ranged Offices in the City. This plot is Leasehold for 99
years, at a ground rent of £4,000 per annum.
The price at which the City Offices Company (Limited) has
agreed for the purchase of the whole ot th- before enume-
rated five blocks is £565,000, including all buildings thereon ;
this price gives, after adding thereto the cost of purchasing
the freehold . f the whole of the leasehold portions, and de-
ducting the value of the new buildings thereon, an average
price of only £9 per square foot. which, compared with the
prices paid for the three last properties within six weeks,
gives the following results, viz. :
Tho Auction Mart (Freehold), containing an area of about
5,80 square foot, cost t i 5,25 which gives an average of £2O
per foot
The Leasehold Premises, No. 80, Lombard-street, occupied
by the Colonial Insurance Company, containing only 1,080
feet, sold to a well-known Banker for £31,000, subject to a
grou al-rent of £5Ol per annum, for 6i years, which, a low-
ing as in former calculations tor purchase of freehold, and
deducting the value of new buildings thereon, gives £37 per
square foot.
The Leasehold Premises in Finch-lane, lately occupied by
t. e London and Middlesex Bank, containing. only 6,0 feet,
realised .£lO,- anti this subject to a ground-rent of £5
per annum, which, allow ntr, tor purchase of freehold, and
deducting value of new building, gives about £3O per square
foot
It will be seen, therefore, that if large profits can be rea-
lised, as they undoubtedly can be, on land costing .£ 0, £3 ,
and £37 per foot respectively, the prospects ...nd probable
profits of those acquired by tills Company, costing only £9
per foot, will be evident at first sight ; if they were re-sold
at even the 1 west of hese threi quotations, it would leave
the City Offices Com.:,any (Limited) a very large profit on the
cost.
The Company's plan of operations will consist in adapting
such of these premises as may be suitable, and erecting new
buildings on the remainder, the whole to be let off as Offices
suitable for Banks, large Companies. or Commercial and
I Tofessional Firms ; and from calculations made, based upon
moderate rentals, a return of from :5 to 20 per cent. on the
outlay may be fairly relied on. The Company will also from
time to time acquire other properties, as the op ;,ortunities
present themselves, f.,r the purpose of re-sale or otherwise.
By the issue of Debentures or otherwise, the paid-up Share
Capital will be kept at the lowest possible point.
It is believed that as an essentially Home Investment, one
so secure, and at the same time so remunerative, is rarely
brought to the notice of the public, being wholly free from
the speculative character incidental to many joint-stock en-
terprises ; the model on which the business operations will
be conducted will be that of Gresham House Chambers, in
Old Broad-street. City Bank Chambers, Threadneedle-street.
and County Chambers, Lombard-street., the success of which
is well known, the only difference being, that whilst those
properties are in the hangs of a few capitalists, the proper-
ties acquired by this Company will be distributed over a large
body of Shareholders, which will thus put investors of mode-
rate means in the same position to reap the advantages of
large returns on City property, which the magnitude of the
amounts required has hitherto made it impossible to any but
very wealthy men to undertake.
In the allot nent of Shares, a proportion will be reserved
for applicants who are Shareholders in the Mercantile Credit
Association (Limited), and the Credit Foncier (Limited) ; the
remainder will be distributed among the general public.
In the event of no allotment of Shares being made, the de-
posit will be returned in fulL Should a less number of Shares
be allotted than are applied for, the deposit will be made
availabie towards the vayment due oa allotment, and the
balance, if any, returned to the applicant.
Prospectuses and Forms of Application for Shares in the
form annexed may be obtained at the Temporary Offices of
the Company, at the Offi:es of the Mercantile Credit Asso-
ciation (Limited), 21, Threadneedle-street; and the Credit
Foncier (Limited), 80, Lombard-atreet ; also of the Bankers,
Brokers, Solicitors, and Secretary. -

T TIE CITY OFFICES COMPANY (Limited).
FORM OF APPLICATION FOR SHARES.
To be retained by the Bankers.
No.

To the rireetors of the City Offices Company (Limited).
Gentl men,—Havingpail.:o your Bankers, 6lessr . Master-
man, Peters, and Co., the suns of £ , being a Deposit
of Xi rer Share en Shares in the above 'ompanY,
I hereby request that you will a lot me the number, and
I agree to accept such Shares, or any less number you may
allut to me; and I agree to pay the deposit on allotment, and
to sign the Articles of Association of the Company when re-
quired, an • I authori,,e you to insert any name oa the Regis-
ter of Members for tb.;:. number of Shares allotted to me.

Usu .1 Si. n •
Name i full ..
Residence • • •
Preession ....... ......... • • • .....
Date.. March, 1861