The Liverpool Standard and General Commercial Advertiser.
Liverpool, Merseyside, England, 1848-06-20 00:00:00

LIVERPOOL GENERAL WAREHOUSING
COMPANY OF PROPRIETORS.

A T a MEETING of WAREHOUSE PROPRIE-
/-1_ TORS, held on the Bth instant, representing a Rental of
about £30,000 per annum,
J. It. SHAW, Esn. in the Chair ;
It was unanimously resolved,—" That a copy of the following
Prospectus should be sent to all the Warehouse Owners, and
at the same time their assent should be requested, by re-
turning the form of application, (as under,) with their signature,
to J. It. Shaw, Esq., Chairman of the Provisional Committee,
Office, 30, Trafford Chambers, South John-street, on or before
the 22d instant."

FRANCIS G. HARBORD, Secretary pro teen.
Trafford Chambers, 9th June, 1848.

PROSPECTUS.
That the Company shall be formed exclusively of those par-
ties who are and shall continue to be Owners or Lessees of
warehouses situated in the Port of Liverpool, and which they
agree to place under the exclusive control of the. Company.
That one or more Surveyors shall he appointed to adjust the
relative value of the property, should any difference exist be.
tweeen the Company and the Owner.
That the Town shall be divided into nine districts, and the
warehouses divided into three classes in each district, and a
value determined upon for each class ; and that such ware-
houses as may be offered to the Company shall be surveyed for
the purpose of classification, in order to determine the assumed
annual rental, and that the same shall be laid before the Board
of Directors for their approval ; anti when so confirmed by them
the Managing Director shall have power to receive the property
tendered, subject to such valuation.
That in the event of the Company and the Owner not agree-
ing in the valuation, the offer shall be considered null and
void.

That the Company shall receive goods on rent per package,
but shall nevertheless be empowered to let or lease the entire
or part of any warehouse or premises.
'that parties having so placed their property in the bands of
the Company, shall be entitled (over and above the estimated
rental) to participate in the profits arising .rom the general
business of the Company, (pro rata,) according to the amount
of their annual rental ; and that the profit shall be calcu'ated
upon an average of not less than three years.
That the Company shall make a payment on account of rent
every six months.
That in the event of any proprietor wishing to withdraw from
the Company, he shall give six months' notice, which must
expire with the year, and pay half the expense of removing the
goods remaining in his warehouse.
That the Directors shall have power to invest any profit which
may accumulate during the first or any subsequent three years
in such securities as they may think eligible._

That the Board of Directors shall consist of Twelve Proprie-
tors, to be appointed at the First General Meeting of the Com-
pany, one-third of whom shall retire yearly by rotation, but
shall be eligible for re-election, when the vacancies are to be
tilled up, at the Annual Meeting.
That there shall he a Manager, or Paid Director, with such
stipulations as the Board of Directors may hereafter determine.
All paid officers and servants of the Company shall be re-
quired to give satisfactory security; and all monies to be paid
into the Bank, and not withdrawn except by a regular check,
signed by the Treasurer and attested by the Manager or
Director.
The advantages of a Company formed on this or some other
similar plan, cannot fail to strike every owner of warehouse
property. The alarming and ruinous depreciation which
warehouse property has undergone, will soon render it impos-
sible for Warehouse-keepers to continue their occupation, even
at a nominal rent; thus, sooner or later, the warehouse -pro-
prietors will be compelled to adopt some scheme for the pre-
servation of their property. At the present time, however, it
p
is peculiarly necessary to combine, and act with unanimity ;
opposed by a powerful public body, who have treated ware-
house property (which cannot be estimated at less than four
millions) as if no such interest existed, and against whom in-
dividual exertion is powerless ; it is, therefore, only by aower-
ful combination that warehouse property can be saved from
becoming valueless. A Company also with proper servants,
and controlled by Directors, who are directly interested, inde-
pendently of the very great saving in management which the
proppsed plan would insure, can introduce improvements, and
obtain powers of a similar character to those enjoyed by the
Dock Trustees, where private individuals would fail ; thus, it
would be alike beneficial to the warehouse owner and the mer-
chant.