The Liverpool Standard and General Commercial Advertiser.
Liverpool, Merseyside, England, 1836-05-06 00:00:00

Vublic 33obito.

PROSPECTUS OF A JOINT STOCK COMPANY

FOR TUE PURPOSE OP

REFINING SPERM OIL, BLEACHING OF WAX,
AND THE

MANUFACTURE OF WAX SPERM, AND, COMPO.
SITION CANDLES,
TO BE GALLED

THE LIVERPOOL AND MANCHESTER SPERM OIL

REFINING COMPANY.
CAPITAL, £150,000, IN 15,000 S nictiF.s OF £lO EACH
rim E necessity of an Establishmept for the REFINING of
1. SPERM OIL has long been efferienced by the Merchants,
Shipowners, and Consumers of L: erpool, Manchester, and the
Neighbouring Districts, the wa4lof such having almost entirely
prevented the Importation of this article as a return fur Ship-
ments 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 expenses which it is
the object of the present Establishment to remove.
hel consumption of Sperm Oil may even yet be considered
in its infancy, although it has increased very considerably within
the last seven years, and has been generally adopted as a substi-
tute for other Oils for the purposesof 'Machinery, thus rendering
it a most valuable article of Importation to the Merchant and
Shipowner.

The vicinity of Liverpool to the principal manufacturing
towns, and the great and growing intercourse between this Port
and New Soath Wales, which, by the establishment of the
Company, will be.maierially increased, pint out the neccessity
and legitimate right of the iown to this very lucrative trade.
To the Merchant and Shipowner this 'Company secures a
ready markei 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 Manu-
facture, the purity of the Oil, and the reduced price at which it
can be afforded.

It is intended, at the same time, to add the BLEACHING of
Wax, and the manufacture of WAX, SPERMACETI, and Cost-
POSITION CANDLES, as a necessity Branch of the Refining
of SPERM OIL with the Bleaching of the SPERMACETI, thus
securing a considerable additional profit, and making the Esta-
blishment complete in all its branches.
It is proposed that the capital of this company shall be
£150,000, in 15,000 Shares of £lO each; no Shareholder to
hull 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 share shall be paid on an allot-
ment to defray the expenses incidental to the formation of the
Company, and a. further sum of £1 per share within 14 days
after the appointment of Directors, and all further calls will be
made as the Directors may deem requisite.
A number of Shares will be reserved for Manchester and the
adjoining Manufacturing Towns.
Application for Shares (if by letter post-paid) to be made at
the Offices of Mr. JOHiV PitATcHETT, Accountant, or Messrs.
WILKINsoN and CHRISTIAN, Solicitors, 14, Blundell-court,
Fenwick-street.
Liverpool, April 23d, 1836.

PROSPECT US.
TONTINE OF THE UPPER ARCADE, IN THE
CITY OF BRISTOL.
CAPITAL, £16,000, IN 160 SHARES OF £lOO Ea c " -
rinH E Proprietors have resolved to dispose of t• whole of
.1_ this valuable and eligible property, by way I'ontine.
The Upper Arcade consists of thirty-via- Messuages or
Dwelling-houses and Shops, erected in the ear 1825, upon an
elegant and uniform elevation, according • the plans, and un-
der the immediate superintendence of e rent architects.
No expense has been spared to r: this Superb Building,
in every respect, substantial and c. # odious. It possesses not
only the conveniences of private res Bence; but, as an eligible
and much frequented line of communication between the cen-
tral parts of the city, and the populous and improving districts
of Kingsdown, Montpelier, and St. Paul's, it presents great ad-
vantages for business.
The tenure (except as to a small portion held for a term of
one thousand years, but Without any ground rent) is Freehold of
Inheritance,
and without incumbrante of any kind, not except-
ing the Land Tax, the whole of which is redeemed. The pre-
sent rental, though at present much depressed, and far below
its real value, exceeds £l,OOO per annum, clear of all out-
goings; and when vested in a large body of proprietors, and
under the management of a committee, to be chosen by them,
there can be no doubt that the property will materially and
rapidly improve in value.
It is now to be disposed of for a sum not ouly considerably
below cost price, but much less than its intrinsic value, for the
purpose of facilitating certain family arrangements.
The principle of Tontine, which is that of joint ownership,
with Lime& of survivorship, is capable of being variously modi-
fied. In the present instance, the following is thentan proposed.
Ist. The capital, or purchase money, is £16,000, to consist of
one hundred and sixty shares of £lOO each.
2nd. Every shareholder will nominate one life for each share
purchased, and will be intit led, in the first instance, in respect
of every such share, to an equal undivided 160th part of the
property, and to a similar share of the net yearly rents and
profits, during the life so named. But as the lives successively
drop, the .shares of the survivors will proportionably increase in
value and consequently in yearly 'darns. Thus, supposing the
sum to be divided yearly to be £1,009, (which is taking the
rental at even less than its present depressed amount) and all
the lives to he in existence, still, even in that ease, each share
will pay £6 ss. per annum (being a return of 'upwards of six
per cent., and that, too, under the most disadvantageous cir-
cumstances): when the number of lives is reduced to one
hundred and twenty, each share, even at the above rental, will
produce £8 6s. Bd. per annum; when to fifty, £2O per annum:
when to twenty, £5O per annum, and soon. But as the Property
improves in value (as no doubt it will underlite proposed
change of proprietorship) and, consequently, as the amount of
rental increases, not on ywill the value of each abate propor-
tionably improve, but also the yearly returns thereon; and this
whether the whole number of lives be in existence or not, and
independently of any increase in value which must, of necessity,
arise from the dropping of lives. And as every shareholder will
have an insurable interest in the life of Iris nominee, he may
secure his capital from risk by insuring accordingly, and at the
same time, and after payment of the premium, realize an annual
return for hismoney beyond that which can be obtained either
in the public funds or upon mortgage.
3d. When the number of lives shall have been reduced to
five, the whole of the property to be conveyed absolutely to, or '
for the benefit of, the proprietors for the time being, of the
shares which shall be holden upon such five surviving lives, in
such proportions as shall correspond with the number of shares
belonging to each of such ultimate proprietors.
4th. A deposit. of £5 to be paid upon each share at the time
of subscribing; the remainder of the purchase money to be paid
upon the execution of the conveyance, as after mentioned. But
in the event of the whole number of shares not having been
taken on or before the 24th day of Juna next, then the sub-
scriptions to be void, and the deposits to be returned without
any deduction of any kind whatever.
sth. When the whole number of shares shall have been
taken, a meeting of the shareholders to be convened (of which
'hoe week's notice, in writing, shall be left at the usual place of
residence, or of business, of each shareholder). At which
meeting, a Committee of Management shall be appointed, who
shall be empowered to take all proper measures for investi-
gating, and, if satisfied, accepting the title of the vendors, and
for preparing the conveyance; and to appoint a time ror nomi-
nating trustees, and completing the purchase: such time to be
within three calendar months from and after the appointment
of the committee : each shareholder to have one vote in respect
of every share held by ,him, and to be entitled to vote at such
meeting either personally or by proxy.
6th. On the day so to be appointed for the purpose, the Com-
mittee of Management shall convene a inee lug of the share-
holders, by like notice as aforesaid; and the shareholders then
present, shall proceed to choose five persons from among them-
selves, whose names shall be inserted in the Deeds of Convey-
ance, as Trustees for the purchasers : and the purchase shall
then be completed, by execution of the deeds, and payment of
the residue of the purchase money for the respective shares.
But in case any shareholder, having had due notice of such
meeting as aforesaid, shall make default in payment of his pur-
chase money, his share or shares and deposit money, shall be
forfeited; and such meeting shall, if necessary, be adjourned
for the purpose of disposing of such forfeited share or shares.
Provided that it shall be competent to such committee, or a
majority of their number, at any time before the completion of
the said purchase, by notice as aforesaid, to convene a meeting
of the shareholders, for the purpose of obtaining fresh instruc-
tions and powers.
7th. Prior to the completion of the purchase, the decision,
by the votes of a majority, to be taken as before mentioned, of
any meeting of the shareholders. convened as aforesaid, shall
be binding on all shareholders, whether present or absent.
Bth. All outgoings to be paid, and rents received, by the ven-
dors to the time of completion of the purchase. All costs of
conveyance, and incidental expences of carrying this Tontine
into effect up the time of the completion of the purchase, to be
paid by the vendors.
9th. Subject to the approval or correction of any such pre-
liminary meeting as aforesaid, the conveyance in trust for the
purchasers shall contain provisions to the following effect, viz.
For vesting the property in the trustees, for the proprietors
jointly, with benefit of survivorship, until the number of lives
upon which the shares shall be-held, shall be, reduced to five,
and to be then conveyed to or for the benefit of the proprie-
tors, for the time being, of the shares which shall be holden
upon such surviving lives, in proportions and manner afore-
said.

For the yearly election by the proprietors, of a Committee
of Management, with proper powers for letting, repairing,*.
protecting, lighting, cleansing, insuring- from loss by tire, and
generally, superintending and managing the said property on
behalf of the proprietors.
For the due and regular keeping, making up, balancing,
auditing, and passing of the accounts of all receipts and pay.
ments on behalf of the proprietors.
For the yearly division on the net rents and profits among
the proprietors, according to their respective shares.
A power for the proprietors, at any yearly meeting, after
due notice of a motion to that effect, to alter and amend all
or any of the trusts or provisions contained in such convey-
ance in trust, or subsisting for the tune being, by virtue of the
resolutions of any past meeting of proprietors.
A proper provision for investigating, and determining any
doubts or questions that may arise, touching the existence of
any life or lives, or the claims, interests, or liabilities, of any
person or persons in respect of any share or shares in the
said property.
Proper powers for the choice from time to time, when
necessary, of new trustees, and for the protection and reim-
bursement of the trustees in the execution of their office,
together with all such other powers, provisoes, conditions, and
agreements, as by such meeting of proprietors so to be con-
vened as last aforesaid, should be deemed necessary or proper.
The scheme above submitted will ap seen to present every
possible advantage. The capital to will
advanced will be abso-
lutely limited to the price of the shares; there not being, as in
other tontines, any liabilities to future or contingent expenses of
building. 14• e. As the annual return will, from the first, afford
the expense of life insurance, in addition to full interest, NO
RISK OF CAPITAL NEED BE INCURRED. It is manifest, there-
fore, that there is no danger of the value of the shares ever
sinking BELOW PAR, while to the s'iareholders the lives of
whose nominees are prolonged, the value will progressively
increase, until the ultimate division.

Application for shares, in the form subjoined, to be made to
Mr. ROBERT FLETcnRit, Exchange-buildings, Bristol, and for
a limited number to WM. OK ILL, Dale-street, Liverpool.
Bristol, Ist Mc y, 1836.

FORM OF APPLICATION FOR SHARES.
_ .

I resquest that shares in the Upper
Arcade Tontine, Bristol, may be reserved for me ; and I hereby
engage to take such shares as may be appropriated to me on
this a pplication, upon the terms specified in the prospectus,
dated Bristol, Ist May. 1836. .

Thi.s advertisement not be repeated.