The Sun.
London, England, 1865-03-29 00:00:00

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The CREDIT FONCIER and MOBILIER of ENGLAND
(Limited , in conjunct ion with the IMPE El lAL ME RC AN-
TILE Cr:EDI T ASSOCIATION (Limited), are prepared
to Rr. CE EVE SUBSCRIPTIONS for the CAPITAL of
THE MTLLWALL FREEHOLD LAND and
DOCKS COMPANY.
Inc° porated by special Act of Parliament 27 and 21 Vic., cap.
2(.5, 25th July, 1864, under the title of the Millwall Canal
Company.
The liability of the shareholders is limited to the amount of
their shares.
Interest during construction is guaranteed at 7 per cent. Der
annum upon the fat y paid-up shares, and at 0 per cent. up n
those paid by instalments. Interest payable half -yearly, on
2! st March and 3th bentember in each year. •
Capital, £510,000 in 25,501 shares of £2O-eßoborith.thelusual
Debenture l'owers.
Deposit, per share on application, and £4 on allotment.
Calls net to exceed ?, 10s. per share, and not to be made at
intervals of less than three months.
DIRECTORS.
Sir JAMES DALRYMPL ELPEIIIISTONE, Bart., M.P.,-
Chairman.
'William Lee, Esq., 31. P., Director of the London and County
Bank, Deputy-Chairman.
dames Childs Esq., Director of the Credit Fonder and
Mobilier of England (Limited,.
Nathaniel J. Fenner, Esq. (Messrs. N. J. and H. Fenner),
Millwall.
W. tunes, Esq., C.E., Bankside, Southwark, and Field-place,
Horsham, Sussex.
dames Levick, Esq , reputy-Governor of the Credit Fonder
and Mobil:er of England (Limited).
Mackrill Smith, Esq., Director of the Credit Fonder and
_Mobiller of England (Limited).
F. G. Westmorland, Esq., Dire tor of the Imperial Mercan-
tile Credit Association (Lim ted).
BANKERS.
Messrs. Glyn, Mills, Currie, and Co., 6', Lombard-e., E.C.
ENGINEERS.
John Fowler, Esq., C.E., Queen-square-place, Westminster,
Engineer-in-Chief.
IV- Wilson, Esq, C.E., Queen-square, Westminster.
SOLICITORS.
Messrs. Hargrove, Fowler. and Blunt, 3, Victoria-street,
Westminster.
BROKERS.
treSSI'S. Laurence, eon, and Pearce, 7, Angel-court, Throg-
morton-street.
SECRETARY.
11. T. Rubinson, Esq.
Temporary Offices—Nos. 17 and 18, Cornhill, E.C.

This Company is incorporated for the purpose of supply-
ing, under circumstances peculiarly advantageous to the
Shareholders, the great demand for wharves, sites for manu-
factories' ship-building yards, and graving docks within
the port of London, which the natural increase of trade,
combined with the removal of existing water frontage by
the formation of the Thames Embankment, and other me-
tropolitan improvements, has created.
The Company is incorporated by a special Act of Parlia-
Inent passed last session, by which is obtained power to
acquire a large tract of land at Millwall, consisting of up-
Wards of 198 acres of freehold land adjoining the East and
West India Docks. This land will be rendered available
for the purposes above-mentioned, by the construction
within its area of large docks or basins, with access for the
largest vessels both from Blackwall and Limehouse
Reaches ; so that the deep water frontage thus created by
the works will become immediately valuable in the highest
degree for wharves, granaries, manufactories, ship-building
Yards, and similar purposes ; and, from the water being
always kept at high level, the saving of time and cost in
all operations of lighterage, loading and unloading, which
may be effected without respect to tides, will render this
site far more valuable than land abutting on the Thames
itself.
The proposed works will also include the construction
of public Graving Docks of the largest dimensions, capable
of receiving vessels of even greater size than 11.3,1. iron-
clad ship Warrior, and of accommodating H.M. frigate
Northumberland, now building on the premises of the
Ilillwall Ironworks, immediately adjoining this Company's
Property. It is a remarkable fact that for the immense
mercantile fleet of the Port of London there is but one
public graving dock on the Thames of sufficient capacity
to take in a vessel of even ordinary dimensions. All the
other graving docks are in the hands of private builders,
who require to execute the works and repairs themselves ;
and it is therefore not unusual for ships to be sent from the
Thames to Southampton, and even to Liverpool, to be
docked for repairs.
Prom the circumstance of the area proposed to be occu-
pied lying on an average about ten feet below high-water
mark, the Works will be executed with unusual facility,
the material excavated being used to raise the adjoining
land to a convenient level above high-water.

The main roads which traverse .'he site of the proposed
works afford good access to them ; and application is being
Made to Parliament in the present session by the Black-
Wall Railway Company for an extension of the Blackwell
and North London Railway systems, by which direct
railway communication will be afforded for the whole of
the Company's works, wharves, and docks with the entire
railway system of England.
As a Land Company, the present undertaking has enor-
mous advantages from the unusual ample powers granted
by its special Act of Parliament, by means of which it will
become possessed, after appropriating about 56 acres for
the Docks and Graving Docks, of upwards of 140 acres,
With a water frontage of more than 10,000 feet, and from
400 to 800 feet in depth—the whole of which, on comple-
tion of the Docks, will become immediately available for
letting, on building leases at freehold ground-rents. Be
sides this source of revenue, estimated to produce upwards
0 £50,000 per annum, the Company will also derive a
further large income of about £40,000 per annum, the rents
of the Graving Docks, and from dues and charges from the
doCks, basins, wharves, &c., making a total estimated re-
venue of £90,000 per annum.
In calculating the estimate of dividends very much will
depend upon the mode found most practicable in dealing
with the income of the Company ; if the ground-rents
should be capitalised and sold as they accrue, and taking
them at thirty years' purchase, it is estimated that
Within a period of five years the capital, including the ad-
ditional amount intended to be applied for to complete the
*works, will have been repaid, with a bonus of upwards of
75 per cent., and the revenue of the docks and royalties and
dues still be available for dividend to the Shareholders ;
should, however, the whole rentals and revenues be main-
tained in hand, a dividend (after providing for expenses,
interest on debentures, &c.) may fairly be looked for at the
rate of 10 per cent. per annum, and, when it is considered
that the greater part of this is from freehold ground-rents,
the valuable description of the property this Company pos-
sesses will be at once apparent.
The Directors have much pleasure in being able to an-
nounce that the whole of the works will be undertaken by
Messrs. Kelk and Aird, the eminent Contractors, and that
a contract for the first portion to be executed has been
entered into with them, and arrangements made for the
Payment by them of interest during construction of the
Works at the rate of 6 per cent. per annum on the Share
capital paid up by instalments, and of 7 per cent. per an-
num on all Shares applied for and allotted as fully paid-up
Shares. The interest will be payable at Messrs. Glyn and
Co.'s Bank, half-yearly, on 31st March and 30th Septem-
ber in each year. The ,first payment will be made 30th
September, 1865.
It is believed that so, sound a scheme, and one which so
specially addresses itself to the investor, is seldom brought
before the public. The basis of the enterprise being free-
hold land and ground-rents removes from it all character
of speculation, so often the leading feature in public c,om-
panies ; and as a British and home security it will doubt-
less be appreciated by those who, while expecting good
profits upon their investments, yet look for solid security.
An accompanying plan shows the whole of the works as
proposed when complete.
Copies of the Act of Parliament and plans may be seen
at the Offices of the Solicitors. Applications for Shares in
the accompanying form may be made to the Secretary, at
the Offices of the Company ; or to the Credit Foncier and
Mobilier of England (Limited), 17 and 18, Cornhill ; also
to the Imperial Mercantile Credit Association (Limited),
95, Bishopsgate-street Within; to the Bankers and Brokers ;
but no application will be entertained unless the deposit
of £1 per Share on the number applied for has been duly
Paid to the Company's Bankers. In the event of no allot-
Ment being made to the applicant, the deposit will be
Promptly returned in full.
28th March, 1865.

FORM OF APPLICATION FOR £5 PAID SHARES.
Bearing 6 per cent. interest during construction,
(To be retained by the Bankers).

No.
'lll3 the Directors of the Millwall Freehold Land and Docks
Company (Incorporated by Special Act of Parliament,
27 and 28 Vict., cap. 255, 25th July, 1864, under the title
of the Millwall Canal Company).
Gentlemen,—Having paid to your Bankers, Messrs.
Glyn, Mills, Currie, and Co., the sum of £ , being
a deposit of £1 per Share on Shares in the above
Company, I hereby request that you will allot me that
number, and I agree to accept such Shares, or any less num-
ber you may allot to me, and I agree to pay the sum of £4
Per Share on allotment, and I authorise you to insert my
Ilatue on the Register of Members for the number of Shares
allotted to me.

Usual Signature
Name in full
Residence
Profession
Date , 1865.
Or if fully paid-up Shares are required, on the following
fon,
l'ollll OF APPLICATION FOR FULLY PAID-UP

SHARES.
Bearing 7 per cent. interest during construction.
(To be retained by the Bankers).

rn No.
'l3 the Directors of the Millwall Freehold Land and Docks
Company (Incorporated by Special Act of Parliament,
27 and 28 Viet., cap. 255, 25th July, 1864, under the title
of the Millwall Canal Company).
iaPentlemen,—Having paid to your Bankers, Messrs.
'Yen M ills, Currie,.and Co., the sum of £ ,being
Coposit of V. per Share on Shares in the above
enipany, I hereby request that you will allot me that
Spar
of fully paid-up Shares, and I agree to accept such
4eB) or any less number you may allot to me, and I