The Liverpool Standard and General Commercial Advertiser.
Liverpool, Merseyside, England, 1836-04-22 00:00:00

PROSPECTUS OF THE
VICTORIA PARK TONTINE, MANCHESTER.
Bankers,—Messrs. Dantrv, Ryle, and Co.
Architect,—Ricbardlane, Esq.
Solicitor,—Mr. T. Percival Bunting/
riflHE design of the undertaking, now submit dto the Pub-
lic,l. is the formation of au extensive Pa -, in the imme-
diate neighbourhood of the great and i ceasing Town of
Manchester, and the erection of an adeq to number of first-
rate Dwelling-houses. The want of lair e residences of this
description is, perhaps, sufficieutly notor' us, from the extreme
difficulty which has been experience ' meeting with them,—
a difficulty which, when coupled with he circumstances, that a
very considerable number of the inhabitants must abandon
their present abodes, in consequence of the rapid conversion of
Dwelling houses into Warehouses, will at once evince the desi-
rableness and importance of the proposed measure. Nor can
it be doubted that a large and beautiful tract of Land—skilfully
laid out for the erection of handsome villas, protected from
nuisance, and each residence so placed as to command an
advantageous prospect, without interfering with those around
furnish an object of great ornament and interest; and,
looking to the income, arising both from the Houses to be
erected upon it at a cost which the extent of the undertaking
will greatly reduce in each particular case, and from such por-
tions of it as may be sold .off on chief rents, will prove a very
safe and piofit able investment for capital.
W.th the view now . stated, a very appropriate site has been
secured, in a most fashionable and improving situation, extend.
ing from the Didshury to the Stockport Road, and about two
miles from the Manchester Exchange. The Land has naturally
a Park-like appearance, and possesses advantages for the in-
tended purpose perhaps not equalled by any other. Among
these may be enumerated its contiguity to the best roads leading
from that part of the Town to which the principal business is
rapidly removing; the variety of means of access to it ; its
tatal freedom from manufacturers of every kind, and from any
of their disagreeable effects;_ and the accommodation which will
be presented by-a new and elegant Church, on the point of
erection, either in the Park, or immediately on its verge. .
The principle ofTontines, upon which it has been determined
to proceed, is one which has been often and extensively adopted
in various parts of the kingdom; and offers inducement, totally
different from any of the numerous projects now before the
Public. Taken in conjunction with the well understood and
appreciated system of Life Insurance, no scheme can lie devised
so certain to preserve the Capital embarked in it, and so entirely
free from all possible risk.
It will appear from the conditions subsequently stated, that
each Shareholder will have the appointment of one nominee,
for every 100 subscribed, and, during the life of such nominee,
will be entitled to an equal proportion of the annual profits of
the estate; and that such Shareholder, or his representatives,
will not only have the chance of becoming entitled to one-
fiftieth, or even more, of the whole property, but, by insuring
the lives of his nominees, may at once secure his subscription ;
and, by similar insurances from time to time, may protect the
increased value of his Shares, occasioned by the falling off of
the nominees of other individuals. The expetce of insurance
will be so trifling as to render it almost certain that, in the
course of a very short time, the income arising from each Share
Will pay that expense, in addition to a handsome interest.
The. Plan, thus considered, offers a mode of provision for
children infinitely superior to any other. The amount of Sub-
scription for each Share, upon which a high interest will be
receivable during the continuance of the life of the nominee,
and which may be insured, as before stated, will secure a much
greater and inure certain result than can be effected by any
other means; besides which, it should be remembered that,
even without au insurance, there is a fair probability that,
although the lives should fall before the division of the estate,
the sum subscribed will be amply reimbursed by the largeness
of the annual dividends. For example,—if a -Parent of six
young children, wisely uniting the advantage of Live Insurance
wish Those of a Tontine, should take up one share for each
child, he might, by the yearly payment of less Than £1 a Share,
secure to himself, on the death of the survivor of his children,
the whole amount of his subscription.
It is quite needless to point out the advantage which the
Shareholders who shall have selected any of the fifty surviving
nominees will maize, or the great addition to the value of the
existing Shares which must necessarily be experienced annually.
It is sufficient simply to advert to the rapid and signal improve-
ment which the formation of the Park must at once occasion,
and to the gradual rise in the price of land in this neighbour-
hood,—a price which, notwithstanding its late increase, is not
ye: one-third that of land similarly situated near Liverpool and
other large towns.
The holders of Shares, in respect of which an Income of Ten
Pounds per annum is derivable, will be entitled to votes for the
County..

The Tontine is to consist of 7,500 Shares of £lOO each.
The interest of the Shareholders is to depend upon the live
of nominees, to be named by them, on or before the first day o.
October next.

One life is to be nominated for each share; and, during the
life of the.nominee, the Shareholder nominating, his heirs or
assigns, is to be entitled to a proportion of the rents, profits,
and other advantages, arising from the 'estate, corresponding
with the number of his existing Shares.
On the death of a nominee, except he or she be one of the
fifty nominees last surviving, all right, estate, and interest
whatever attaching to such life, and to the Shareholder having
nominated the same, shall immediately cease and determine.
When the number of the nominees shall be reduced to fifty,
the Shareholders, their heirs or assigns, who shall have selected
such fifty surviving, nominees, will become the absolute owners
of the estate.

The estate shall be vestO in three.persons, to be nominated
by the Directors, as Trustees for the Shareholders; and all
vacancies, dy death or otherwise, shall be supplied at a General
eeting.
The whole management of the Tontine shall be vested in a
Committee of five Shareholders, (not being Trustees,) to be
called "THE DittEcTotts VP THE VIcTORI A PARK TONTINE,"
who shall be appointed at a General Meeting of Shareholders,
to be convened by the Provisional Committee. The Directors
shall choose a Secretary to be responsible to and removable by
them. _ _

An Annual General Meeting of the Shareholders shall be
held in the month of July, at which the business of the Con►-
pany shall be transacted; but Special General ➢leetinrs may
be called at any time by the Secretary, on the requisition of
three Directors, or of twenty Shareholders.
Each Shareholder shall have a vote at every General Meeting,
for every ten Shares held by him or her.
The number of Shares to be holden by any one person shall
be limited.

Each Shareholder shall pay a deposit of £5 per Share, on
allotment, into the Bank of Messrs. Daintry,le, and Co.,
at the same time signing the Deed of Assoc►ation ; together
with such further calls, not exceeding £lo,per Share, at any
one time, not without two months' previous notice, as the
Directors may require.
That the Shares of those persons who shall neglect or refuse
to pay any Call or Calls, within the time prescribed, shall be
forfeited, and shall become part of the general Stock of the
Company. •
That Shareholders shall have the preference, according to
priority of application, of purchasing such sites in the Park as
may be laid out for selling capon chief-rent, at the price fixed
by the Directors.

That every Shareholder who shall transfer his Shares to such
person or persons as shall be approved of by the Directors,
shall thenceforth cease to be liable to any further responsibility
to the CoMpany.,
Copies of the Prospectus and conditions with blank forms
for signature may be obtained from Mr. Fanticts BAYLEY,
Share-broker, King-street, Manchester; with whom a plan of
the Park is deposited.

By order of the Provisional Committee,
T. P. BUNTING, Solicitor, Minchester.

- FORM OF APPLICATION.
To Mr. F. BAYLEY,
SIR,
I hereby duthorise you to, put down ma name as a gubscribei
for Shares in the V toToliiA -PARK ToNTINE, which
I engage to take on the touts and cokiditions of the Prospectus
of the said Coinpany.
Name.
Profession.
Residence.

PROSPECTUS OF A JOINT STOCK COMPANY,

FOR THE PURPOSE OF

REFINING SPERM

TO BE CALLED
THE- LIVERPOOL & ,MANCHESTER SPE OIL
REFINING COMPANY:
CAPITAL, £150,000, IN 15,000 SHARES OF EACH.
THE necessity of an Establishinent for the EFINING of
SL SPEIIIII OIL' his long been experi:. ced by the Mer-
chants, Shipowners and Consumers of verpool, Manches-
ter, and the Neighbouring Districts, the want of such having
almost entirely prevented the Impor ion of this article as a
return for Shipments made from this Port to New South Wales.
Hitherto, consequently such cargoes as have been imported
were of necessity reshipped to London, to be there Refined, and
afterwards returned to this county to be consumed, burthened
with those almost incalculable additional additional expenses
which it is the object of the present Establishment to remove.
The consumption of Sperm Oil may even vet be considered
in its infancj, although it has increased very considerably within
the last se..,en years, and has been very generally adopted as a
substitute for other Oils for the purposes of Machinery, thus
rendering it a most valuable article of Importation to the Mer-
chant and Shipowner..
The vicinity of Liverpool to the principal manufacturing
towns, and the great and growing intercourse between this Port
and New South Wales, which, by the establishment of the
Company, will be materially increased, point out the necessity
and legitimate right of the town to this very lucrative trade.
To the Merchant and Shipowner this Establishment secures
a ready market for an article they have hitherto been debarred
importing, or having imported it, have been compelled to sub-
mit to a Sacrifice by sending it to London to a few merchants
there who have enjoyed the monopoly.
To the consumer and dealer the advantages will at once pre-
sent themselves the saving of Freight, the locality of the Ma-
nufacture, the purity of the Oil, and the reduced price at which
it can be afforded.
It is proposed that the Capital of this Company shall be
£150,000, in 15,000 Shares of £lO each; no- Shareholder to
hold less than ten Shares.
That the affairs of thiS Company shall be managed by a
Board of Directors, who shall be holders of at least fifty Shares
each.
The sum of one shilling per Aare" shall be paid on allotment
tp defray the expenies incidental t 6 the formation of the
Company, and a further sum of £1 per share withiu 14 days
after the appointment of Directors, and all further calls will be
made as the Directors may deem reqnsite..
A number of Shares will be reserved for Manchester and th'd
adjoining Manufacturing
Applications for Shares (if by letter, poit:paid) to be Made at
the Offices 'of Mr; JOHN PRATCHETT, Accountant, or Messrs.
LKINSON I'4;f Blundtltdotttt;
Fenwick4treet.-
Liitrpooti Apia 2isi; 1E36).,