The Sun.
London, England, 1864-06-24 00:00:00

IN what le Happy Land', can I see you after the
pera?" I only know of One HAPPY LAND
GArmich a Gentleman may Sup—EVANS', COVENT-
--"'uEN, my dear fellow!

ISSUE or £300,000 MORTGAGE DEBEN-
TURES of the CITY OFFICES COMPANY (Limited',
noured by Special Mortgage, being a first charge upon City
zr London Freehold and Long Leasehold Property ; and the
titileßaYment of both Principal and Interest guaranteed by
e t,redit Fonder (Limited) and Credit Mobilier (Limited).

DIRECTORS OF THE CITY OFFICES COMPANY
(Limited).
11
;atte
• L. As'ley, Esq. (Messrs. Astley and Co.), Nicholas-
Thomas•
Dakin, Esq., Alderman, Abchurch-lane.
panes Ellis, Esq., Lloyd's.
zadttles Leviek, Esq., King's Arms-yard.
Zard Masterman, Esq. (Res rs. Masterman, Peters, and
London.
puiG.avird Warner, Esq., M..
rti, Westmorland, Esq. (C. Joyce and Co.), London.
"he Right Hon. James Stuart Wortley, London.

BANGERS.
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., Stoholas-lane, Esq.
BROKERS.
4,..eggrs. Laurence, Son, and Pearce, Lothbury, E.C.
ateliers. Field, Son, and Wood, 9, Warnford-court, Throg-
...Morton street, E
Item's. Robins and Barber, Threadneedle-street, E.C.
SECRETARY.
G. W. Benwell, Esq.

PROPOSAL AND TERMS OF ISSUE.
I.The Credit Fonder (Limited), 412 c,4njuction wi h the Credit
Tobilier (Limited), are prepared on behalf of and as Financ al
-eats for the City Offices Company (Limited), to receive
pubscriptions for £304,000 of Mortgage Debentures at par.
liAll,ed by the City daces Company (Limited), in sums of
£250, £5, 0, or £ ,000, bear4ng interest at 5 per cent. per
alltnini for five years ; at the expiration of which term the
debentures will be paid off at par.
The terms are
20 per Cent. on subscribing.
2) T
„ on Ist August.
20he whole amount
on tat September. or may be paid at the
20 ~ on Ist November. time of subscribing
71 on Ist January, 1865.

1100 Total.
Rankers are instructed to decline all furth.r Subscrip-
Lions when the sum of £3'n., 00 na. been subscribed.
, Interest at 5 per cent. per annum wil be allowed on each
Instalment from the date f payment th,treof, but the whole
Mount of each Debenture may be paid up •n subscribing,
yd in that case hate est on the full amount of the Debenture
Will commence from that date. Instalments not duly paid
Will render previous payments liab e t forfeiture. Yrovi-
Ronal Certificates A ill be issued until the last instalment be
Dild, when the Debentures will be given in exchange for
'Melt certificates ; whee, however, the Debentures have been
'aid in uli at once on subscribing, they will be delivered
ttu ediate y.

INTEREST—WHEN AND WHERE PAYABLE.
Warrants or Coupons for the int. rest will be attached to
each Debe,ture, p tyable quarterly, viz., on Ist Octoly.r, Ist
danu ry, Ist April, and Ist July in each year. The Coupons
Will be payable at th.• Agra and Masterman's Bank (Limited),
Nicholas-lane.

SECURITY.
1,,/13, the specific terms of these Debentures they will be a
Lira Charge on the whole ot the undermentioned propertie
.), the Company, the C mostly reserving to themselves tull
Ellvers (,f Leasing and Management in such manner as they
"lay think beneficial.
1. The Freehold Premise , 25, 25A, 26, 27. in lement's-
nne, Lombard-street with Nos. 9,10, and 11, in Nag's Head-
„lmirt an 3,4, and 5, Church-court ; the whole will form a
gmenificent block of new Premises.
2. The well-kn w Leasehold block of New Offices, situ-
4ed 27, Leadenhall-street, and extending back to Lime-
! reet-equare ; it has been erected within the last three years
;41.0T1i the designs of John Whichcord, Eso. and mntains 120
;IV-class Offices, with four shops ; ha fire-proof corridors
Vstone stet• cases, and possesses the most modern improve-
,,ents. The lease is for 94 years, at a ground-rent of £750 per
-.sum
3. The handsome edifice erected within the last seven
ir-rs, from designs by John Barnett, Esq., Architect, for
hle.ssra. John Sarl and Sons, and situated 17 and 18, Corn-
'l, directly opposite the Bank of England. These premises
e leasehold, held for 60 years, at a ground-rent of £6OO per
nt The new and substantial block of offices, situated No. 63,
lreat Tower-street, near Mark-lane, erected within the last
:bree years, and built in the most substanliai manner. It is
lreehold, and contains 55 office , besides vaults.
b§. Is one of the ler, est blocks in the City. and is situate in
4shopeate-street Within, opposite St. Helen's-place, and
,11 the centre adjoins Gresham House; this nroperty, when
13;rered will comprise the largest and most conveniently ar-
,„_'nge'i offices in the City. It is leasehold for 99 years, at a
Found-rent of £4,000 per annum.
.„iehopsgate-e el. The Pretenold property, adjoining the above property in
,Dreet Within.

VALUE OF SECURITIES.
The Whole of the properties, Nos. 1,2, 3,4, and 5
before-mentioned, hive been purchased by the
City offices Company (Limited), for the sum of £365,000
In addition to which they have since acquired No
6 (and some other interests , say
413 creased value by an estimated outlay for new
buildings in course of erection on sites Nos. 1,
6, and 6, and alterations to No. 3

Z487,Gb0

To Which add for additional contingent outlay,
say

Making a total of

£500,000

INCOME AND REVENUE FROM SECURITIES.
Of his sum £300,000 is the amount to be raised on mort-
gage Debentures, the remaining 0,000 being provided by
the City Offi‘,es Company out of Share Capital.
The whole of the Properties are dap es.l,
and let, or to be let, f r Mercantile and
Banking Offices, arc., and the gross in-
came. Inc uding the rentals of the New
Buildings in course of erection, is esti-
mated at
Deduct for Ground Rents and Sinking
Fund (on the Leasehold portion), In-
surance, &c., say ..

13,000

Leaving. .C 16,000 per annum.
available as Securi, y for the Interest re-
suired on the £300,00 Debentures to be
issued ; the amount of interest se re-
quired at 5 per cent. is
Leaving a Surplus Income available for
dividend on the £2O , 00 Share Capital
ol .....
GUARANTEE OF CAPITAL AND INTEREST.
In addition to the above-mentioned properties, -nd this
•ample surplus, both in value and income, and the covenant
ItUnder seal in e ch Debenture by the City Offi es Company
d), to duly pay both 1. rit.cipal ant. interest which cove-
nant is secured by its large uncalled capital , the punctual
payment of these Debentures will be further secured by the
tntee of the redit Fon ler (LimitecP, ant also of the
Uredit ‘lobilier Limited), endorsed under their corporate
on ea .11 Debeti•ure
These Debentures will be transferable in tt e same manner
46 Pal way detisn:ures by s mple ra• afer form.
SECURITY CONVERTIBLE AT ANY TIME.
i1h,13 will doubtless be appreciate by those who, whist
bCeklg a first-class home investment, free from risk or ha-
ilityn. are still desirous of havinl tht ir ca. ital easily c n-
ve rtible in case of need, an,, with a view to make them alike
auva lable for temporary as well as p rmanent investments,
4Ppl cation will be made to the Stock Exchange for their
rillOtatiun in the official list.

SUMMARY Or SECURITIES.
The total guarantee to the Deben ure holders 01 this loan
I'4l_l be 'ollows
Vreehold and I, asehold Properties £50),000
The City Offices Com any (Limited, uncall d
Capital
Tree relit Fonder (Limittd), Capital
The Credit hlobilier
,Limited), 1, apital 5J0,00

Thu Total X 2,3,10,000
s making these Debentures an entirely unex, eptionable
lenrity, and whilst col nial and foreign investments are
undant enough, a well secured 5 per cent. English invest-
nt is very scarce ; such a security, it is believt-d. is now
Ltrered, and as su .h is specially adapted for trusteas, bankers,
surance c,mpanies, mercantile and private investors.
Porms of Application are attached hereto, and may be had
Offices of the Credit Foncier (Limited), and the Credit
,-Lobilier (Limited), 80, Lombard. street; and of the City
:ifliees Company (Limited), 70, Cornhill ; also of the Bankers,
Qolicitors, and brokers.
London, 21st June, IE6I.

CITY OFFICES MORTGAGE DEBENTURES.
FORM OF APPLICATION.
To the Directors o: the City Offices Company (Limited).

thliaving paid to the Agra and Masterman's Bank (Limited),
se um being 20 per cent. on £
in value of Mortgage Debentures of the City Offices Com-
l'arlY (Limited), upon terms of the Prospectus attached hereto,
_hereby subscribe for and accept t•uch Debentures, and
.gree to pay the turther instalments as they respeztively be-
COrne due.
I am, Sir, your obedient servant,
Signature
Name in full
Address
Date
I request the amount may be made out in Debentures of
each.

BANKERS' RECEIPT.

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

No
Rece ved the day of 186', on account of the
City Offices Company (Limited) (Mortgage DebeLture ac-
count), the sum of , beinz 'he amount required on
subscription for £ of City Offices Mortgage Deben-
tures.

For the AGRA and MA STER &lAN'S BANK.