The Sun.
London, England, 1865-09-27 00:00:00

BOARD OF DIRECTORS.

J. B. Alexander, Esq., Director Railway Passengers Assur-

ance Company.
George Clive, Esq., Perrystone Court, Ross, Hereford-

shire. .
H. A. Coffey, Esq. (late of Melbourne), Director National Pro-
vincial Insurance Company.
George Cook, Esq. (Messrs. Bradbury and Cook), London.
Colonel Elsey, Director Bank ,t London.
Harvey Lewis, Esq., Director National Bank.
Joseph Thomas, Esq., Manchester-building,s, Liverpool.
J. H. Clough, Esq., J.P., Melbourne, Victoria (Managing
Director in Australia).

(With power to add to their number.)
B.4NKERS.

Bank of London.
National Bank, and all its Branches.
Halifax and Huddersfield Union Banking Company.
Yorkshire Banking Company,

BROKERS.

Blessrs. J. C. and C. W. Morice, 1, Warnford-court.

SOLICITORS.

Messrs. Tamplin and Tayler, 159, Fenchurch-street.

AUDITORS.
Messrs. Lovelock and Harvey.
SECRETARY.
W. Wilson Rowes, Esq.
TEMPORARY OFFICES.
No. 34, Coleman-street.

PROSPECTUS.

This Company is established to facilitate the investment
of English capital in Australia, and to assist generally in
developing its resources.
Its business will consist chiefly in making advances to the
pastoral tenants of the Crown lands and others, and by
taking security on their stations, stock, freehold land, and
wool, in accordance with the Slortg,age and Lien Acts of the
Colonial Legislatures; in acting as agents for the sale of
wool and other produce in Australia, or for its shipment to
England ; in effecting the sale of stations and stock ; and in
conducting a Financial and General Agency business.
The Company, therefore. will advance capital only when
fully secured, and do not intend to enter into any transac-
tions involving a risk on their own account.
Operations will be commenced by taking over the business
of Messrs. J. H. Clough and Co., of Melbourne, which has
been established upwards of ten years, and which shows
an average profit per annum for the last six years as fol-
lows:
From June, 1858, to June, 1864, six years.

Commissions Trade expenses Profit. Average Profit
earned. paid. per annum.
£232,671 13 6 .X 32,943 18 8..X199,730 14 10 or £33,258 9 1
Th- se profits have been realised principally by commissions
on advances and sales of wool, stock, and stations.
The extensive connexion with the producers thus acquired
will form the basis of the Company's operations ; the returns
of the business show, as above, an average profit during the
last six years of upwards of thirty thousand pounds per
annum, and the facilities for the extension of the business,
to be afforded by the introduction of augmented capis al and
credit, will enable the Company to realise proportionately
increased profits.
The purchase of the goodwill of the business has been
ffected on very advantageous terms, the amount to he paid
being less than two years' profits, the whole of which will be
received by the Vendors in Shares, subject to proportionate
reduction should a net profit of £30,000 per annum on a three
years' average not be realised, as stated in the terms of pur-
chase, copy of which, and also of the Articles of Association,
can be seen at the Offices of the Solicitors.
One-half of the amount of the above purchase money will
be pa'd to the Vendors by six thousand shares (with £5 per
Share paid up), out of the present issue, and the remaining
half in debentures of the Company, to be converted into
Shares ot the next issue, such debentures or converted Shares
to be held by the Board for the purpose of guaranteeing a
dividend of 10 per cent. por annum for three years ; and the
Vendors have also agreed to place their services at the dis-
posal of the Company. for the same period to co-operate with
the Manager, who will be appointed by and act under the
direction of the Board in London.
The premises in which the business is at present carried
on have been purchased by the Company, subject to a valua-
tion ; teey are situated in the principal street in the city of
elbourne, in immediate proximity to the terminus of the
Government Victorian Railways ; and for proportions, style,
and convenience, surpass any buildings for similar purposes
in the Australian colonies. They were erected at a cost of
about n(1,00.) by the present proprietors, and were especially
designed for the wool trade, with stowage room for from
15,000 to 20,000 bales, having hydraulic presses, lifts, and all
other necessary appliances.
'the business thus secured, and connexion obtained, will
enable the company at once to assume a pos tion, and obtain
results which would otherwise take years to effect.
It is proposed to take powers to borrow money on bonds
or debentures : the difference between the English rate of
borrowing and the high Colonial rates for lending on mort-
gage ill form an additional source of revenue to the Com-
pany; and powers are also proposed to be taken to increase,
it required, the capital of the Company.
The prospects of the Company are identified with the pro-
gress of the Australian Colonies, which, without doubt, pre-
sent the most valuable field for the investment of British
capital now known. The pr-gressive increase in the quan-
tity of wool exported from Victoria alone is seen in the fol-
lowing statement, viz :

Pounds.
1861-2 it amounted to
1862-3
1863-4
And that large securities exist on which the capital of the
Company can be profitably employed is shown by the fact
that, although the value of the live stock property of the
squatters of Victoria alone, estimated from Government re-
turns in 1862, was £10,000,000 sterling, yet the registered
amount advanced to them on such securities in the same year
was under £2,000,000.
Under the Articles of Association, the qnallfication for each
Director is fixed at £4,010 at least, to be held by him in his
own right in the Shares of the Company.
The success of the Vendors, their confi I 'nee in the prospects
of the Company, evidenced by their w llingness to accept the
purchase money of the goodwill of the business in Shares,
and by giving the material guarantee above-named, and the
wide scope for profitable employment of capital, justify the
Directors in recommending this undertaking as an invest-
ment of the most satisfactory kind, especially as the liability,
risk, deiay, and competition, which the establishment of a
new business involves will be avoided, and the operations
will be increased by a Company, the capital and credit of
which wilt form a guarantee for all additional business en-
trusted to it.
In the formation of this Company no promotion fees will
be pati.
Prospectuses and Forms of Application for Shares may be
had at the Bankers, Brokers, Solicitors, or at the Officers of
the Company.
Applications for Shares must be accompanied by a deposit
of £1 per Share t In the event of no allotment the money will
be returned in full ; if a less number is allotted than is applied
for, the surplus amount paid on application will be applied
towards the payment of the £1 due on allotment, and the
balance, if any, returned.

APPLICATION FOR SHARES.'
To the Directors of the London and). Australian Agency
CompanY (Limited).

Gentlemen,
Having paid to your Bankers the Burn of
a deposit of £1 per Share on Share in the above
Company, I request that you will allot me that number, and
I agree to accept such Shares, or any number you may allot
to me ; and I further agree to pay the the sum of £1 per
Share on allotment, and also to sign the Articles of Asso-
3iation when required, and I hereby authorise you to
insert my name on the Register of Shareholders for the
number of Shares so allotted
Usual signature
Name in full
Residence
Profession
Date

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