Correspondence, Printed Papers and Newspaper Cuttings Relating to the Persian Bank Mining Rights Corporation Ltd [‎226r] (490/586)

V
GEORGE DE REUTER, Esq., Director of th(
FREDERICK D. SASSOON, Esq., late Chairm
BANKE
Messrs. GLYN, MILL!
BROKE
Messrs. W. GREEN WELL &
SOLICIT
Messrs. HOLLAMS, SONS, C<
SECRETARY (PRO TEM.).
GEORGE NEWELL, Esq.
The Persian Bank Mining Rights Co:
purpose of acquiring and turning to account the Mini
Government of the Shah of Persia, for the term of i
Concession is now vested in the Imperial Bank of Pei
The Royal Charter granted by the English
business, and the Concession also provides that the
other w r orks mentioned in iVrticles 11 , 12 and 13,
Imperial Government of Persia, it may sell or cede tl
Articles.
The sanction of the Imperial Government of
5th, and the document was registered at the British 1
The Articles thus referred to granted for th
definite privilege of working throughout the Empire
manganese, borax, and asbestos (amianthus) mines
previously ceded to others. The excepted mines are
for the working of the mines and for construction of
lands are on State domain. The material necessary j
the lands and buildings are to be free from all imp|
receive 16 per cent, of the net profits of each mine v
interest in the success of the mining operations,
generally to test the value of all or any of the min
of which has not been commenced for 10 years afteij
abandoned and may be disposed of by the State.
THE PERSIAN BANK MINING RIGHT-
CORPORATION, LIMITED.
Incorporated under the Companies s Acts, 1862 to 1886.
CAPITAL £1,000,000, IN 200,000 SHARES OF £5 EACH
Of which £350,000 in 70,000 Preferred Ordinary Shares of £5 each, '
£650,000 in 130,000 Ordinary Shares of £5 each.
Issue of £350,000 in 70,000 PBEEEMED OBDIIABT SHARES
AT £5 10s. PER SHARE.
Messrs. J. HENRY SCHRODER & CO. and Messrs. DAVID SASSOON & CO
invite subscriptions for the 70,000 Preferred Ordinary Shares at the price of £5 lo s , per Sb
payable as follows :—
10s. on Application.
£1 10s. on Allotment.*
£1 10s. on 24tli June.
* This payment includes the premium of 10s. per Share.
Further calls will not exceed £l per share, and will not he payable at less intervals than
three months.
DIRECTORS.
W. DUFF BRUCE, Esq., M.LC.E.
Hon. GEORGE CURZON, M.P.
S. EZEKIEL, Esq. (Messrs. D. Sassoon & Co.), Director of the Imperial Bank of Persia.
Sir LEPEL GRIFFIN, K.C.S.L, Director of the Imperial Bank of Persia.
GEORGE DE REUTER, Esq., Director of the Imperial Bank of Persia.
FREDERICK D. SASSOON, Esq., late Chairman of the Hongkong and Shanghai Banking Corporation.
BANKERS.
Messrs. GLYN, MILLS, CURRIE & Co.
BROKERS.
Messrs. W. GREEN WELL & Co., 21, Finch Lane, E.C.
SOLICITORS.
Messrs. HOLLAMS, SONS, COWARD & HAWKSLEY.
SECRETARY (PRO TEM.). TEMPORARY OFFICES.
GEORGE NEWELL, Esq. 14 , AUSTIN FRIARS.
The Persian Bank Mining Rights Corporation, Limited, has been formed for the
purpose of acquiring and turning to account the Mining Rights comprised in the Concession from the
Government of the Shah of Persia, for the term of sixty years from 30th January, 1889, and which
Concession is now vested in the Imperial Bank of Persia.
The Royal Charter granted by the English Government to that Bank limits it to banking
business, and the Concession also provides that the Bank shall not itself carry on the mining and
other works mentioned in Articles 11 , 12 and 13, hut provides that, with the sanction of the
Imperial Government of Persia, it may sell or cede the privileges, rights and powers specified in such
Articles.
The sanction of the Imperial Government of Persia was granted under date of January the
5th, and the document was registered at the British Legation at Teheran on the 9th January, 1890.
The Articles thus referred to granted for the whole term of the Concession the exclusive and
definite privilege of working throughout the Empire the iron, copper, lead, mercury, coal, petroleum,
manganese, borax, and asbestos (amianthus) mines belonging to the State, and which had not been
previously ceded to others. The excepted mines are specified in an official list. The lands necessary
xor the working of the mines and for construction of roads to be given gratis to the Lank when such
lands are on State domain. The material necessary for working the mines is to be fme of duty, and
the lands and buildings are to be free from all imposts and taxes. The Government of I ersia is to
receive 16 per cent, of the net profits of each mine worked, thus that Government vm have a direct
interest in the success of the mining operations. The Concession gives liberty to piospect and
generally to test the value of all or any of the mining properties, and works and unnes the woiking
of which has not been commenced for 10 years after the constitution of the Bank are to he deemed
abandoned and may be disposed of by the State.