The Sun.
London, England, 1866-03-02 00:00:00

-,..,:'..."0., .-- •,.,,, ...... -
.. , .
.. P. • 1,-..
(•*;:.' ;:.' ~,:„..
...2
..:,
''''
.1"
1::':
--;;,,...

N°. 22,997

Directors to continue the payment of the interest at 10 per
cent. per annum, but enable them to declare periodical
bonuses on the capital called up.
As to the Catalan property, having regard to its impor-
tant position, the command it has of the seaboard, the faci-
lities it presents for construction of the new port, and its
general adaptability for the formation of streets, shops, and
private villas, a large and remunerative return may also be
anticipated.
ESTIMATED PROFIT ON CATALAN PROPERTY.
On reference to Mr. Borde's Report, it will be seen that
when the various improvements which have been sug-
gested have been completed, and the Catalan property
fully developed, it is estimated to yield a gross profit of
upwards of cent. per cent., and this within a period of
three years, although the estimates have been based on the
more extended period of five years, and that when the Fort
St. Nicholas is removed, and the new port completed, this
profit will be trebled.
MINIMUM INTEREST, TEN PER CENT.
As the first payments of annuities and rent under the
arrangements entered into with regard to the Joliette pro-
perty do not commence until the Ist October, 1867, and
become payable only in the subsequent half-year, viz.,
the Ist April, 1868, the Directors have decided to pay in-
terest at the rate of 10 per cent. per annum for two years,
from March, 1866, on the capital called up, and for which
four interest warrants will be attached to the share certifi-
cates at the time of issue (which will be charged to land
purchases account). After that date the revenue from the
Joliette lands, the rentals from the other properties, and
profits on further sales, will be applicable for dividend or
bonuses.

PAYMENT OF SHARES IN FULL ALLOWED.
As some Shareholders may prefer to pay up the shares
in full rather than have a larger number subject to calls,
application may be made for shares to be fully paid up on
allotment. Four half-yearly interest warrants, at the rate
of 10 per cent. per annum, will likewise bo attached to
these share certificates. In the allotment of shares prefe-
rence will be given to these applications, but the number
so allotted will not exceed 30,000 shares, and the Directors
reserve to themselves the right in their discretion only to
allot 60,000 shares in all on the present allotment.
A portion of the shares will be allotted to applicants who
are Shareholders in
The Credit Foncier and Mobilier of England (Limited),
The Agra and Masterman's Bank (Limited),

The National Bank,
The National Bank of Liverpool (Limited),
To applicants from Marseilles and Paris,
and the balance to the other portion of the general public.
Applications for shares fray be made in the annexed
form, which must be accompanied by the payment of .£1
per share deposit, without which no application will be
considered. Should a less number of shares be allotted
than aro supplied for the deposit will, so far as required,
be applied towards the payment due on allotment. Should
no allotment be made, the amount paid will be at once re-
turned without deduction.
Copies of the Architect's and Engineer's Reports on the
lands purchased, and a map, showing their position, ac-
company the Prospectus, which, with Forms of Applica-
tion for Shares, may be had of the Brokers and Solicitors ;
also of the Agra and Masterrnan's Bank (Limited), 35,
Nicholas-lane ;of the National Bank, Old Broad-street,
London, and their Branches; the National Bank of Liver-
pool, Liverpool ; and of the Secretary, at the Offices of the
Credit Foncier and Mobilier of England (Limited), Nos.
17 and 18, Cornhill.

COPY OF MEMORANDUM OP ASSOCIATION.
1. The name of the Company is " The Imperial Land
Company of Marseilles (Limited)."
2. The Registered Office of the Company is to be in
England.
3. The objects for which the Company is established

are:—
(1) Tho acquisition, by purchase, leasing, or otherwise,
of land in and near the city of lgarseil.les: in the empire of
France, and the improvement, by building or otherwise,
of land so purchased or acquired.
(2) The selling, leasing, transferring, or otherwise dis-
posing or mortgaging of the lands, houses, and other
building and works erected, executed, or otherwise ac-
quired by the Company, in large or small portions, or alto-
gether, and either before or after the same shall have been
improved by building or otherwise, and on such terms as
the Company shall think fit.
(3) The improvement of buildings already erected,
either by adding to, enlarging, completing, or altering the
same, or by substituting new houses and buildings.
(4) The investing of the capital of the Company in build-
ing on, or otherwise improving, or adding to, the market-
able value of lands from time to time acquired by the
Company, and the making, maintaining, and using all
such works as the Company may think necessary or ex-
pedient for any of the purposes of the Company.
(5) The borrowing of money, and the issue of transfer-
able or other bonds or mortgage debentures, or any other
securities founded or based upon all or any of the real or
personal assets or credit of the Company.
(6) The transacting and doing of all such matters and
things as shall be conducive or incidental to the above ob-
jects, or any of them, including the applying fe.r and ob-
taining the Incorporation of the Company in France.
4. The liability of the Members is limited.
5. The capital of the Company is £1,600,000, divided into
80,000 shares of £2O each.