The Sun.
London, England, 1868-03-21 00:00:00

THE FOREIGN and COLONIAL
. GOVERNMEN-T TRUST.
In Certificates of £loo:eab, bearing G. per Cent. Interest.

To be issued at 485.

IThe object of this Trust is ro—give the investor of
moderate means the same advantages 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, ou
the above plan, not only have received a high rate of in-
terest, but by this time have received back hit original
capital by the action of the drawings and Sinking Fund,
and held the greater part of hts 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-
selectcd Government Stocks, to the value of £1,000,000
sterling, will be placed in the names of the following
trustees, viz.:—
The Right Honourable Lord Westbury,
The Lord Eustice Cecil, M.P.,
G. M. W. Standford, 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 on
the London Stock Exchange, have been selected for the
investment, viz. : —Austrian, Australian, Argentine,
Canadian, Brazilian, Chilian, Danubian, Egyptian, Italian
Nova Scotian, Peruvian, Portuguese, Russian, Spauisl
Turkish, and United States Ten-Forties payable in gold ;
not more than £lOO,OOO being invested in the Stock of any
one Government.
These Stocks will be made over to the trust at the prices
quoted in yesterday's offiacviealbleiesnt (nlnBdtehrt March),ahen. as certified
by two eminent brokers, plus £2 10s. for each £lOO of
Stock, for which all expensed of the purchase and issue,
incTluhdeinpgricsetasnaansd especifich 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 large number of them,
purchased considerably below par, will bo repayable by
drawings at par, within the period of the Trust.
Against this investment of £1,000,000 will be issued
11,765 Certificates of £lOO each, with half-yearly Coupons
bearing £6 per cent. interest, payable at the Banking-
house of .Messrs. Glyn, Mills, Currie, and Co., Ist March
and Ist September, the first Coupon falling due on Ist
September next. •
The price of issue will be £B5. per cent., thus yielding
an annual interest of. 7 par cent., without reckoning the
advantage of being repaid at par, and without including I
the value of the reversion of the Stocks purchased.

The excess of interest; after paying the 7 per cent.
interest to the subscribe/4;lnd the amount received from
drawings, will, after payment of expense; 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 mouth of February in each year.
According to a table prepared by Mr. Jellicoe, late Pre-
sident of the Society of Actuaries, the whole of the 11,765
Certificates will in all probability be thus paid (off in 24years,
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 Certificates, if any,
paid off.
In addition to the Coupons for the half-yearly interest,
a Coupon, representing the share accruing to the Certi-
ficate-bolder 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.
The arrangements thus made will secure the following
advantages to the subscribers :-
1. Interest at 7 per cent. on tine amount subscribed.
2. A bonus of 15 per cent. by the repayment of capital
at par within t wenti-four years. •
3. A reversion, calculated by Mr. Jellicoe at upwards
of £900,000 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 unde r
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 be chosen at General Meetings, held annually
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 expanses 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...,,
15th April .....
15th May ........
15th June

£lO
£2.5
£25
£2O

£35
Subscribers may anticipate their payments on the days
when any of the instalments fall due, being allowed a dis-
count at the rate of £1 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, Itose, 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, 1808.

FOREIGN AND COLONIAL GOVERNMENT
TRUST.

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

London).
Having paid to Messrs. Glyn and Co., to the account
of, the Foreign and Colonial Government Trust, the sum of
- as a Deposit on Certificates cf £lOO each
in the' raid 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 salt's shall become due, in default
of which my previous payments will
.be liable to for-
feiture.

Name
Address
Description
Signature
Addition to be 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