The Sun.
London, England, 1868-03-20 00:00:00

THE FOREIGN and COLONIAL
GOVERNMENT TRUST.
In Certificates of £lOO each, bearing.,6 per Cent. Interest.

To be issued at tB5.
The object of this Trust is to give the investor of
moderate means the same advantage • as the large capitalist
in diminishing the risk of investing in Foreign and
Colonial Government Stocks, by spreading the invest-
ment over a number of different Stocks, and reserving a
portion of the extra interest as a Sinking Fund to pay off
the original capital.
A capitalist who at any time within the last twenty or
thirty years had invested, sa3, £1,000,000 in ten or twelve
such Stocks, selected with ordinary prudence, would, on
the above plan, not only have received a high rate of in-
terest, but by this time have received back his original
capital by the action of the drawings and Sinking Fund,-
and held the greater part of his Stocks for nothing.
Some parties, believing it would be a convenience to
the public if such a mode of investment were made gene-
rally accessible, have made arrangements by which well-
selecti_d Government Stocks, to the value of 11,000,000
sterling, will be placed in the names of the following
• trustees, viz. :•=-
The Right Honourable Lord Westbury,
The Lord Eustice Cecil, M.P.,
G. 11. W. Staudford, Esq., M.P.,
George Wodehouse•Curri Esq., and
Philip Rose, Esq:
The following Stocks, being all dividend-paying Stocks
of Foreign or Colonial Governments, currently dealt in ou
the Loudon Stock Exchange, have been selected for the
investment, viz.:--Austrian, Australian, Argentine,
Canad:an, Brazilian, Chilian, Danubian, Egyptian, Italian,
Nova Scotian, Peruvian, Portuguese, Russian, Spanish,
Turkish, and United States Ten-Forties payable iu gold ;
❑ot more than £lOO,OOO being invested in the Stock of any
one Government.

These Stocks will made over to the trust at the prices
quoted in yesterday's c ilicial list (18th March), as certified
by two eminent brokers, plus £2 10s. for each £lOO of
Stock, for which all expenses of the purchase and issue,
including stamps, &c., have been undertaken.
The prices and specific amounts of each Stock are spe-
cified in the schedule to the contract and trust deed.
The average rate of interest of the investment in the
above stocks is 8 per cent., and a largo number of them,
purchased considerably below pit-, will be repayable by
drawings at par, within the period of the Trust.
Against this investment of £1,000,000 will bo issued
11,765 Certificates of £lOO each, with half-yearly Coupons
bearing £6 per cent. interest, payable at the Bankinw-
holse of Messrs. Glyn, Mills, Currie, and Co., Ist Marc%
and Ist September, the first ampon falling due on Ist
September next.
The price of issue will be £B5 per cont., thus yielding
an annual interest of 7 per cent., without reckoning the
advautau of being repaid at par, and without including
the value of the reversion of the Stocks purchased.

The excess of interest, after paying the 7 per cent.
interest to the subscribers, and the amount received from
di awing; will, after payment of expenses, be applied as a
sinking fund in repaying the Certificates at par by annual
drawings, which are to be made in the presence of a
Notary Public, in the month of February in each year.
According to a 'table pirepare-d--by 'W.-Jett-km, late Pre-
sident of the Society of Actuaries, the whole of the 11,765
Certificates will in all probability he thus paid off in 21years,
and there will remain Stocks to the amount of £909,409,
nominal capital, for distribution as a reversion ; accord-
ingly the Trust will be wound up as soon as all the Cer-
tificates have been drawn, or at the end of 24 years,
whichever shall first happen ; the remaining' Stocks
being then sold, and the remaining Certific.ttes, if any,
paid off.
. In addition to the Coupons for the half-yearly interest,
a Coupon, representing • the share accruing to the Certi-
ficate-holder in the above reversion, will be attached to
each Certificate. This Coupon of Reversion will be re-
tained by the holder when his certificate is drawn.
Tho arrangements thus made will secure the following
advantages to the subscribers
1. Interest at 7 per cent. on the amount subscribed.
2. A bonus of 15 per cent. by the repayment of capital
at par within twenty-four years.
3. A reversion, calculated by Mr. Jellicoe at upwards
of £900,40 nominal capital, eventually divis-
ible among the subscribers.
If by the default or delay of any foreign Government
the dividends and drawings received in any year should
be insufficient to pay the full amount of ' interest on the
Certificates the deficiency will form a first charge upon
the subsequent receipts, subject only to the annual allow-
ance for expenses.

The object being to give the fullest confidence in the
security of the Trust Fund, the Stocks will remain under
the control of the Trustees, at the Bank of Messrs. Glyn,
Mills, Currie, and Co., till the termination of the Trust,
and the Trustees will be empowered to draw dividends,
receive capital repaid, &c., and apply the amount received
in interest and Sinking Fund according to the Trust Deed.
A power of sale, under special circumstances, will be
vested in the Trustees and a Committee of Certificate-
holders to bo chosen at General iMeetings, held annully
for the purpose, and for receiving a Report and Accounts
from the Trustees. Auditors at the same time will be
appointed.to make periodical inspections of the securities
of the Trust,
and any vacancies in the Trust will be
filled up.

The ordinary expenses of management of the Trust are
limited to a sum not exceeding £2,500 per annum. No
other expenses can be undertaken without the assent of
the Certificate-holders' Committee.
Within two months after the closing of the subscription,
a General Meeting of the Certificate-holders will be con-
vened for the purpose of appointing a Commiteee, in terms
of the Trust Deed.
Application must be made on the annexed form, accom-
panied by a deposit of £lO per cent.
In cases where no allotment is made, the deposits will
be returned without deduction, and where the Certificates
allotted are less than the number applied for, the surplus
deposits will be credited towards the allotment.
Payments to be made as follows :
On application
On allotment £s
15th April ...................... £25
15th May
15th June

• .£B5
Subscribers may anticipate their payments on the days
when any of the instalments fall due, being allowed a dis-
count at the rate of XI per cent. per annum.
The Contract provides for the delivery of the Stocks
on the 30th March, from which date the account will bear
interest at £4 per cent. per annum until the purchase is
completed.
Provisional Certificates will be issued on allotment, and
the final Certificates with Interest Coupons attached, and
also the Coupons of Reversion, will be issued immediately
after payment of the final instalment.
As the principal of the measure does not depend upon
the amount subscribed, if a substantial part only of the
£1,000,000 should be allotted, the arrangement will be car-
ried out with a pro rata reduction of the amount of each
Stock made over to the Trust.
As the payments are received from the subscribers by
the Bankers, they will, be exchanged for Stocks, to be
handed over to the Trustees.
The Contract and Trust Deed, together with Forms of
the Certificates, and the Actuary's Tables, may be seen at
the offices of Messrs. Baxter, Rose, Norton, and Co., 6,
Victoria-street, Westminster Abbey.
Prospectuses and Forms of Application may be obtained
of Messrs. Baxter, Rose, Norton, and Co., Solicitors, 6,Vic-
toria-street, 'Westminster Abbey ; and at Messrs. Glyn
and Co.'s, Bankers, Lombard-street, where all subscrip-
tions must be paid.
London, 19th March, 1868.

FOREIGN AND COLONIAL GOVERNMENT
TRUST.

To tho Trustees of tho Fund (care of Messrs. Baxter,
Rose, Norton, and Co., 6, Victoria-street, Westminster,

London).
Having pail to Alessrs. Glyn and Co., to the account
of the Foreign and Colonial Government Trust, the sum of
as a Deposit on Certificates cf £lO9 each
in the said Trust, I request you to allot to me that number
of Certificates ; and I engage to pay the further instal-
ments upon that or any lesser number that you may
allot to me, as the same shall• become due, in default
of which my previous payments will 'be liable to for-
feiture.

Name
Address
Description
Signature
Addition to b 3 filled up if the applicant wishes to pay
in full.

I desire to pay up my Subscription in full, receiving
discount thereon at the rate of £4 per cent. per annum.
Signature