The Sun.
London, England, 1865-06-17 00:00:00

N°. 22,775.

SA VE YOUR POOR TEETH, and Economise
your Cigars. —BUTCHER'S PATENT CIGAR NIP-
PERS are sold everywhere. Price Id.

THE BLAhELY ORDNANCE COMPANY
(Limited).
Incorporated under the Companies Act, 1862.
Capital £750,000, in 30,000 Shares of £25 each. Deposit
on application £1 per Share, and £4 on allotment.
First issue of 20,000 Shares.
DIRECTORS.
John Dent, Esq., 35, Grosvenor-square.
Hon. A. Hobart, Captain R.N., 5, Berkeley-square.
William Needham, Esq., late of the Butterly Ironworks.
Crederic Platt, Esq., Belswood, Hants.
aptain Blakely, late Royal A.rtillery, Managing Director.
(With power to add to their number.)
BANKERS.
The Agra and Masterman's Bank (Limited), 35, Nicholas-
lane, London, E.C.
SOLICITORS.
Messrs. Cunliffe and Beaumont, 43, Chancery-
lane, London, E.O.
BROKERS.
John Shepherd, Esq., Throgmorton-street, London, E.C.
Messrs. P. Eckersley and Son, Bull's Head-chambers,
Manchester.
John Perry, 12, Waterloo-street, Birmingham.
SECRETARY (PRO TEM.)—John Healy, Esq.
TEMPORARY OFFICES.
1, Royal Exchange-buildings, London, E.C.

PROSPECTUS.

The manufacture olOrdnance upon the principle patented
by Captain Blakely has for upwards of five years been car-
ried on by private enterprise. The demand for this class
of Ordnance has, however, so largely increased that the
works established at Southwark by the present Blakely
Ordnance Company have proved altogether inadequate,
and it has been found necessary to establish a manufactory
on a much larger scale. Extensive works are in course of
construction at Greenwich, to which it is proposed to
transfer the operations of the Company.
Both in Europe and America, as well as at home, the
Blakely Ordnance is daily coming into more extensive use,
and during the last six years large orders have been exe-
cuted for Russia, Portugal, Italy, Egypt, Sweden, China
and Japan, Morocco, Turkey, and several important States
in North and South America, including the Confederate
Government.
As an evidence of the remunerative character of this de-
scription of manufacture, it may be stated that the net
profits in the current year amount to nearly X 60,000.
With the view of providing the increased capital which
is requisite to carry on the manufacture on so large a scale,
it is proposed to form a Limited Company, to be called the
Blakely Ordnance Company (Limited). The services of
Captain Blakely have been retained as Managing Director.
The present efficient staff will also continue in office, as
follows :—Josiah Vavasseur, Esq., C.E., Resident Engineer ;
Mr. Campbell (late of the Royal Laboratory, Woolwich),
Superintendent of Laboratory and Shell Factory; General
Burnaby, Royal Artillery, Proof-master.
The Directors have entered into an agreement for the
purchase of the existing leases, plant, premises, and good-
will for the sum of £225,000, payable by instalments over
two years, and £150,000 in debentures bearing £6 per cent.
interest. In forming their estimate of the value of the
plant, leases, fixtures, machinery, stock, and woodwill,
the Directors have been guided by a valuation of the same
by a competent Engineer. The goodwill has been rated at
two and a half years' purchase.
As an evidence of their confidence in the undertaking,
the vendors have agreed to guarantee that the profits of the
undertaking shall amount to a sum sufficient to pay a
minimum dividend at the rate of £l5 per cent. per annum
for three years on the paid-up capital for the time being of
the present issue of shares.
As it has been considered impossible to estimate equit-
ably the value of the patents, it has been agreed that they
shall be transferred to the Company, the present Pro-
prietor receiving £2O per cent. of the net profits for the
next seven years.
The Company will enter into possession of the works in
Southwark and Greenwich on the 30th of June instant, but
will be entitled to the benefit of all contracts executed, and
profits made, since the 30th June, 1864. The vendors re-
serve to themselves the right of subscribing for one-third
of the present issue of shares.
A copy of the Memorandum and Articles of Association
can be inspected at the Offices of the solicitors, 43, Chan-
cery-lane.
Prospectuses and Forms of Application for Shares can
be obtained at the Offices of the Brokers of the Company,
and of the Solicitors.
As some applicants may desire to take full advantage of
the guaranteed dividend, by paying up their shares in full,
two Forms of Application are annexed, one for Ordinary
Shares and the other for fully paid-up Shares.