The Sun.
London, England, 1849-08-27 00:00:00

BANKERS.

The Royal Bank of Scotland and its Branches; Messrs. Coutts and
Co., London.
SOLICITORS.
Messrs. Turner and Wallace, 37, Virginia-street, Glasgow ;

Messrs. Goodwin, Partridge, Williams, and Edwards, Walbreok
Rouse, London.
MANAGING DlRECTOR—Archibald Murdoch Burrell, Esq.
SECRETARY—James Murdoch, Esq.

The barony and estate of Islay, comprising the island of Islay
and small adjacent islands is in the same latitude as Edinburgh and
Glasgow, and is one of the richest and most productive properties in
the west of Scotland. It contains about 140,000 acres, of which
34,000 are arable, the rest being luxuriant pasture.
The present rental of this magnificent property amounts at present
to 20,0001.; but a Government grant of 30,0001. is now being ex-
pended in drainage and improvements. The rents are periodically
and legitimately increased as the leases fall in, and it is evident that
such a property must, under improved agriculture, afford a much
larger return. The purchase, it is expected, will be effected for
about 500,0001., and it is proposed to raise a capital for this purpose,
arid contingent expenses, of 600,0001., in 12,000 501. shares, each
shareholder to nominate a life, and the whole body of nominees to
be insured out of the rental, so as to secure the repayment of his
subscription to every shareholder whose nominee lapses. The
remainder of the accumulated rental is to be divided every ten years
amongst the surviving shareholders, the last survivor to inherit the
estate. On the basis of 12,000 policies, in respect of the 12,000
nominees, it is further contemplated to ingraft the general business
of a life assurance company, so as to secure an annual dividend of
profits.
Thus it will be seen that every person taking a share in the Ton-
tine, will, under any circumstances, receive back the amount of his
investment out of the assurance fund, and will also, by way of in-
terest on his shares, receive an annual dividend out of the profits of
the general life assurance department (and the basis and guarantee
indicated cannot fail to make this branch most extensive and •ucra-
tive) ; he will, moreover, participate, every ten years his nominee
survives, in the accumulated and constantly improving rental; and,
in the event of his nominee being the last survivor, will become
the absoute owner, in fee simple,. of the entire estate. It is also
to be observed that, as the nominees diminish in number, the
marketable value of the shares will year after year be greatly en-
hanced.

The principles of the proposed Tontine have been maturely con-
sidered by F. G. P. Nelson, Esq , the eminent actuary of the Me-
dical and Lavalid Assurance Company, and receiv,d his entire ap-
probation.
The estete Is to be vested in three trustees, resident in Scotland.
The affairs of the Society shall be conducted by a board of seven
direetors in Scotland, communicating with a board of correspondence
in London. Two general meetings shall be herd in Scotland in the
months of June and December.

The preliminary deposit to be ss. per share (being the maximum
allowed under the Registration Act), and a call of 1/. per share shall
be made on cmnplete registration. The remainder to be called up
by such Instalments as mey be found necessary to meet the payment
of the purchase money. . _

Applications for shares to be made to the following brokers &c., of
whom prospectuses and forms of application for shares may lee
had:—Messrs. John Robertson and Co., 47, George-street, Edin-
burgh ; William Bell, Esq., 2, North-street, David-street, Edin-
burgh: Messrs. Buchanan Aitkin and Co., 41, St. Vincent-place,
Glasgow; J. C. Foulds, Esq., Canada-court, Queen-street, Glasgow;
William Gordon, Esq., Aberdeen ; James Thomas, Esq., writer,
Perth; A. Abercrombie, Esq., Paisley; Messrs. Joseph King and
Sons, Liverpool ; L. L. Lamming, Esq , Manchester ; Messrs. Flint
and Tootal, ; Messrs. Beardshaw and Co., Leeds; W. B.
Greenfield, Esq., 38, Throgrnorton-street, London ; of Archibald
Murdoch Burrell, Esq., Royal Bank, Port Glasgow; and William
Bridges, Esq., at the temporary offices of the Association, 38, Throg-
morton-street, London.