1863-11-07 Money Market Review - Robert Laird Mentioned

410   THE MONEY MARKET REVIEW.   LONDON AND CALEDONIAN  MARINE INSURANCE  (LIMITED).

Nov. 7, 1863.

COMPANYTO BE INCORPORATED UNDER "THE COMPANIES ACT, 1862," WHICH SPECIALLY LIMITS THE LIABILITY OF EACH SHAREHOLDER TO THE AMOUNT OF HIS SHARES.

Capital £500,000 (with power to increase to £1,000,000), in 20,000 Shares of £25 each. Deposit £1 per Share on Application and £2 per Share on Allotment.

Directors for England.

JAMES A. BANNERMAN, Esq., Messrs. H. Bannerman and Sons, Man- chester, and Director of the Consolidated Bank. WILLIAM THOMAS BLACKLOCK, Esq., Director of the Lancashire and Yorkshire Railway Company, Manchester.

JOHN CHEETHAM, Esq., late M.P. for S. Lancashire, Eastwood, near Staleybridge, and Manchester.

AMBROSE EMERSON, Esq. (Newby, Carson and Co., merchants, Gresham house, Old Broad street), Director of the Marine Investment Company. HENRY HAGGARD, Esq, banker and bullion merchant, Cheapside. ERNEST 

ALERS HANKEY, Esq., merchant, 25, Old Broad-street.

ROBERT G. LAIRD, Esq., of Messrs. Grimmond, Laird and Co., 15, Cannon street West.

J. BARROW MONTEFIORE, Esq., 36, Kensington-gardens-square. ABRAHAM MOCATTA, Esq. (A. Moratta and Co., of 88, London-wall, merchants).

WILLIAM RATHBONE, Esq., Corn Exchange and Upper Thames-street. ROBERT THURBURN, Esq., East India merchant, 5, Crosby-square. GEORGE WILSON, Esq., Deputy-Chairman of the Lancashire and York- shire Railway Company, Manchester.

For Scotland.

CHARLES COWAN, Esq., of Messrs. A. Cowan and Sons, Edinburgh, and 77, Cannon-street, West, London.

WILLIAM SMITH DIXON, Esq, of Govan, ironmaster, Glasgow. JAMES GORDON, Esq., corn factor, Dundee.

J. J. GRIEVE, Esq. (Messrs. Baine, Johnstone, and Co.), Provost of Greenock, and Director of the Union Bank of Scotland. SAMUEL IRVIN, Esq, merchant, Glasgow, Director of the City of Glasgow Bank.

London-Sir R. W. CARDEN and SON.

JOHN KERR, Esq., merchant and shipowner, Greenock.

THOMAS OLIPHANT HUNTER, Esq., merchant and shipowner, Ex-Provost of Greenock.

W. W. RENNY, Esq., merchant, and President of the Chamber of Commerce, Dundee."

WILLIAM SMALL, Esq., merchant, Ex-President of the Chamber of Commerce, Dundee.

RICHARD SMITH, Esq., manufacturing chemist, Glasgow, (With power to add to their number.)

Brokers.

Manchester-HENRY RAWSON, Esq. Glasgow-JOHN C. FOULDS, Esq., 64, Buchanan-street. Dundee ANDREW OGILVIE, Esq., Castle-street.

Edinburgh-Messrs. MACALLUM and SIDEX, 65, Princes-street. |

London and Manchester-THE CONSOLIDATED BANK. Glasgow-CITY OF GLASGOW BANK.

London-EDWARD H. BARLEE, Esq., 52, Old Broad-street.

Bankers.

Solicitors.

Dundee THE CLYDESDALE BANKING COMPANY. Greenock-THE BRITISH LINEN COMPANY.

Glasgow-Messrs. BELL and PATERSON, 22, Renfield street. Greenock-ROBERT WRIGHT, Esq. Secretary-GEORGE LAURENCE, Esq.

Temporary Offices-153, Gresham-house, Old Broad-street.

PROSPECTUS.

The great want of a Marine Insurance Company for Scotland has long been acknowledged, most of the business of this nature having been transacted by agencies, and through the medium of correspondence. The Scottish merchant has thus been unable to cover his risks without serious inconvenience and delay.

It is a remarkable circumstance that while Scotch fire and life insur- ance cotapanies are so numerous, and have been so successful, until this year the field for marine insurance business in Scotland has been com- paratively unoccupied. The formation of this Company is designed to supply this great desideratum, and to meet the exigencies of merchants and shippers in Glasgow and other Scotch seaports.

From the support already promised by many of the first firms in Scotland, it may confidently be anticipated that a large and important business, now carried on through less convenient channels, will be secured to this Company, which will thus commence operations under the most favourable auspices.

The commercial importance of Glasgow is too well known to require comment, and its shipping and shipbuilding interests afford a wide scope for the operations of such a company. The trade of Greenock, Leith, Dundee, Aberdeen, Arbroath, and other seaport towns is also very con- siderable and rapidly increasing, and mercantile men in these places have signified their desire to avail themselves of the advantages offered by the "London and Caledonian Marine Insurance Company."

It is proposed to establish a head office in London, which will be managed by a Loudon board, and offices in Glasgow, Greenock, and Dundee, under the charge of Scotch directors, to which merchants residing there will have immediate access, and offices may afterwards be opened in other towns as circumstances may require.

The names of the Scotch directory given above afford a sufficient guarantee that the undertaking will receive a large share of local support, while the combination of a London and Scottish board, with an influen- tial mercantile connection, will ensure a considerable amount of marine

insurance business to the company in England. Promises of support having been received from highly influential firms in Manchester, it is contemplated to extend the operations of the Company to that locality, and open an office there under the management of a local board.

The Directors are in treaty with experienced underwriters, and are taking the necessary steps to provide for the management of the business in the most efficient manner, in accordance with the principles adopted by first-class marine insurance companies.

Provision having been made by the Directors for the preliminary expenses, the Company will be secured against the payment of any promotion money, and it may be added that more than half the number of shares have been applied for.

The prospectus and forms of application for shares may be obtained from the Bankers, Brokers, and Solicitors, and at No. 153, Gresham- house, Old Broad-street, the Temporary Offices of the Company.

Applications for shares must be made in the annexed form, accom- panied by the deposit of £1 per share. If no allotment be made the deposit will be returned in full, and if a less number be allotted than is applied for, the surplus will be used towards the payment on allotment.

FORM OF APPLICATION FOR SHARES. (To be retained by the Bankers.) To the Directors of the LONDON AND CALEDONIAN MARINE INSURANCE COMPANY (Limited).

Gentlemen,-Having paid to your Bankers the sum of £ ,being a de- Shares in the above Company, I hereby request that posit of £1 per Share on you will allot me that number; and I agree to become a member of the Company in respect of such Shares, or in respect of any less number you may allot me, and to execute the Articles of Association when required; and I request that my namo may be placed on the Register of Shareholders for the Shares so allotted.

Residence.............................................

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