The Sun.
London, England, 1864-05-05 00:00:00

PROSPECTUS.

The success attained by the Credit Mobilier of Paris has
recently led to the establishment of somewhat similar hied.
tutions in London, their introduction meeting with marked
success, as is evidenced by the large dividends paid to their
shareholders,and increased value of the shares, such increase
being from 100 to 200 per cent. on the amount paid.
The fact th it Scotland, notwithstanding the magnitude
and rapid increase of her commerce, has no institution of the
kind contemplated, has suggested to the projectors of the
present company the formation of an institution founded on
similar principles to the Credit Mobilier of Paris, but em-
bracing a larger field fur its operations.
The progress of Scotland has been greater during late
years than that attained by any other country in the world.
Sta.istics of shipbuilding on the Clyde alone, during the
year 1863, show that 171 vessels, with an aggregate ton-
nage of 124,000 tons, were launched, while 3,148 sailing
ships, with an aggregate tonnage of 350,956 tons entered
the river in the same year; but this number has been ex-
ceeded by the steamers, which reached the large number
of 10,555, having an aggregate tonnage of not less than
1,035,932 tons.
One of the great advantages of this establishment will be
that hcotch houses can negotiate their foreign bills through
the medium of this establishment, this department being
one of the most profitable in banking business.
The directors have succeeded in completing arrange-
ments for the purchase of the Tell-known. established,
and profitable business of Messrs. D. Nathan and
Co., of Cornhill, London, bullion and exchange bankers
(who take a large responsibility in the company), upon
such terms and conditions as will be satisfactory to
the shareholders, the payment of the purchase money being
made entirely in shares of the company. Arrangements
have also been made for the transfer, upon equally favour-
able terms, of the business of N. Monteaux et Fils, Palais
Royal, Paris, bullion and exchange bankers, long known as
the oldest and most extensive establishment of the kind in
France, and now carried on by Victor Monteaux, their
successor, who will retain a considerable share interest in
the company.
The contracts for the transfers of the above list lie at the
office of the solicitors for inspection. '
These arrangements will constitute a nucleus, and enable
the directors at once to commence operations, as they enter
upon a valuable connection of many years' standing, and
embracing a very large number of foreign correspondents.
The objects proposed to be effected by the company are-
1. To receive money at call or on deposit fur fixed terms,
and the oidivary business of bankers.
2. To grant temporary or permanent loans on approved
public securities or private undertakings of tindoubted merit
and known solidity. _ _ _ _

3. To make advances on merchandise and dock and other
warrants, on title deeds of property in possession or rever-
sion for any temporary purpose, on contracts for carrying
out or the finishing of works, or any other securities where
their safety is unquestionable and the benefit to the com-
pany sufficiently advantageous.
4. The purchase and sale of the precious metals in all
their forms. The company will be enabled by its facilities
and connexions, to import and export bullion, and to deal
in foreign coins and bank notes en an extensive scale.
5. By means of the Paris branch it is proposed to un-
dertake the shipment of silver to the East via Marseilles,
which can be done at a considerable saving of expense and

G. The business transacted by the issue of small bills and
letters of credit for the convenience of travellers and emi-
grants is incredible. Remittances from America to Ireland
alone amount to several millions sterling per annum. By
affording the same facilities to the English, German, and
French population of America it is confidently, anticipated
that most profitable business can be done.
7. To negotiate approved foreign or inland bills, to trans-
mit funds in specie and in bills or otherwise, to any foreign
State, and to arrange purchases or sales of any British or
foreign securities at home or abroad.
S. To caste coupons, and to realise or undertake the
management of the dividends on loan or other securities.
Application for shares to be made to the secretary, at the
temporary offices of the compan! or the brokers.