The Sun.
London, England, 1862-08-01 00:00:00

THE PERUVIAN LOAN.

The Peruvian Loan of £5,500,000 in a Four and-
a-half per Cent. Stock at 93, with dividend from the
Ist of July, and a sinking fund for the redemption
of the entire loan at par within 10 years, has been
announced this afternoon by Messrs. Heywoods,
Kennards, and Co., in the following terms. The
security is to consist of the proceeds of the British
and Belgian guano contracts, the dividends are to
be paid by Messrs. Anthony Gibbs and Sons, and a
discount of 41 per cent. is to be allowed on pre-
payment of the instalments
PERUVIAN LOAN, £5,500,000.

" Messrs. Heywoods, Kennards, and Co. beg to give notice
that they have been authorized by his Excellency Senor Don
Mariano Jose Sanz, Minister Plenipotentiary from the
Republic of Peru to the Court of Her Britannic Majesty,
to receive subscriptions for the above loan.
" The interest will be at the rate of 41 per cent. per
annum, payable half-yearly, on the Ist day of January and
Ist clay of July in each year, and will commence from the
Ist of July, 1862, and will be paid as heretofore by Messrs.
Anthony Gibbs and Sons.
" The sinking fund is fixed at 8 per cent. per annum, 4
per cent to be applied each half-year, the first application
to be made on the Ist of January, 1863, and is accumula-
tive—that is to say, the interest on all bonds bought up by
the action of the sinking fund will be applied in further
reduction of remaining bonds.

"The price is £93 for every £lOO of stock, and is payable
as under :

" 5 per cent, on application ; 8 per cent. on allotment ; 20
per cent, on the 17th of September; 20 per cent. on the 13th
of October ; 20 per cent. on the 14th November ; 10 per
cent. on the 12th December ; and 10 per cent. on the 22d
December—total, £93.
" Four-and-a-half per cent. will be allowed on all cash
payments in advance.

" The receiving the existing bonds in part payment will
entirely absorb them, and will thus release the guano now
hypothecated to them.
" In addition to the general pledge of all the revenues of
Peru, there is given as security for the due fulfilment of the
engagements entered into by the Peruvian Government a
special hypothecation of the whole of the guano imported
into Great Britain and her colonies, and also of that im-
ported into the kingdom of Belgium.
'• The nature of the security will be best understood by
the perusal of the subjoined copy of an official letter from
Messrs. Anthony Gibbs and Sons, the consignees of the
guano, and financial agents of the Government :--.
Taking the average sales of guano at 154,000
tons per annum, and the profit at an average
of only £6 per ton, the produce in cash is .. £924,000
Proceeds of average sales in Belgium—say,
45,000 tons, £6 ..
(Sales last year amounted to 52,000 tons) ..

270,000

£1,194,000

Interest, 41 per cent. on 5,500,000=--X247,500
Sinking fund, 8 per cent,

687,500

Leaving as surplus at disposal of Peruvian Govt. £606,500

" The bond; will be of a similar character to the existing
bonds, with coupons attached, and will have all the benefi-
cial clauses which they contain.
" Holders of the Anglo-Peruvian Four•and-a-Half per
Cent., three per Cent. Uribarren and Regan bonds will be
preferentially considered in the allotments.
" Prospectuses and fortis of application to be obtained at
the banking-house of Messrs. Heywoods, Kennards, and
Co., 4, Lombard-street, or at the office of Mr. Lewis H.
Haslewood, broker, 7, Lothbury, E.C.
" Messrs. Lippmann, Rosenthal, and Co., of Amsterdam,
will receive applications for Holland ; and Mr. L. R. Bill-
choffsheim, of Antwerp, will receive those for Belgium."