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RT. HON. I.D. A. BEA (.CLERK, G C.B.O.C.H CAPT. WILLIAM CARLBTON, B.N. SIR JAMES COLQUHOUN, BART. MP. THE HON. CAPT. GEO. ALFRED CROFTON, R.N. CAPT. CHARLES CROLE, R.N ADMIRAL RICHARD CURRIK, R.N.C.II. CAPT. SIR WM DICKSUN, BAUT. H.N. CAPT. SIR WM. HENRY DILLON, K.C.H. THE RIGHT HON. LORD ELIOT ADMIRAL SIR PHIL. DURHAM, G.< .K. CAPT. GORDON T. FALCON, U.N. CAPT. HENRY 008SET, aN. THE HON. CAPT. FREDERICK WM GREY, R.N THE RT. HON CAPT LORD JOHN HAY, R.N.C H. ADMIRAL SIR JAMES HILLYAR, K C H. « K.C.H. CAPT. WILLIAM HOLT, R.N. CAPT. C. HORACE LAPAGE, H.N. THE RIGHT HON. LORD LISLE CAPT. FREDERICK MARRYAT, R.N.C.B. THE RIGHT HON. LORD M0UNTCA81IEL CAPT. McQUHAE, R.N. CAPT. TOUP NICOLAS, R.N.K.H. & C.II. CAPT. GEO. RICHARD PECHELL, R.N.M.P. CAPT. JOHN ROBERTSON, U.N. COL. HAMILTON SMITH CAPT. GEORGE SAYER, R.N CAPT. EDWARD SPARSHOTT, R N. (APT. SAMUEL SPARSHOTT, K.N. CAPT. HENRY STANHOPE, R.N. ADMIRAL RICHARD THOMAS, R.N. CAPT. EDWARD WILLIAMS, U.N. CAPT. JOHN WILSON, R.N. CAPT. RICHARD A. YATES, R,N. THIS Conipaiiy is formcil for tho purpose of briiifjing into operation the invention securod by Letters Patent, granted by Her Majesty to ('apt. J. N. Tayi.eu, R. N. V. II., for his Floating Breakwater for the improvement of HiirlMnirs. It is universally admitted that there has long existed a grcvioua deficieney of shelter on our conat* i ami tlin impprHfiv-n nor.p(i»ity for the prevention of sluDwrecks. nnd the imraenHe niumnl loss of life and property, has rect-ntly drawn the attention of our statesmen and the public to the evil. Government, with the sanetion of parliament, very lately appointed commissioners to visit and survey a jMirt of tlie coast, and repoit on the state of the existing IlarlKiur.-!, »vith reference to their l)cing made available as places of shelter in ease of distress from weather, as iilso plaics of refuge for Merchant vessels from enemy's erui/x'rs in time of war ; and esjHHially as to their being made stations fur armed vet uls, employed for the prott'ction of our trade in tiie narrow part of the < lianncl. It will \k wen by llie lUport of those Commissioners i>resenfcd to Parliament, llint ihey found no one Harbour capable, in it» eruling ttafe, of aimeeringthf purposei of CoverMmenI ; ami '.hat they strongly recommended that the |)re8ent harbours k' kept up and improved, and also that other harbours of ri'fuge Ihi immediately formed and umde a\ailiilde. And they certify, that ujion the old principhMif the Stone IJreak- water, Mrw of such harlwurs will cost llw; nation i;(),000,0(K) sterling. [See the Kxfract of tliis Ueiwrt at the end.] The labours of thesj- < ommissioners were limited to a small jwrlion only of the coasts of England ; but it is equally known and admitted that many other jwrtions of the Hritish coasts, as well as of Ireland, are alike destitute, and imiM-riously reipiire similar jirotection for our trade; and for the security and preservation of all that constitutes the main pillar of our luilional greatness and naval superiority, two hundred and tifty of such new harliours and places of refuge, at the least are required, inde]H>ndent of the vast impro\cments which are al»0 neessiblc. The Chancellor of the Kxchequer, feeling the jjressing Importance of the subject, declari'd in a very recent debute in the House of (Nmimont that, annotm )u thin OovernmrHl i> I o e$labliiik a number of U arbour i,%l ii prrrmled from doing so nl prifiirHl hi the ulale oflltv ptiblic rrvcnue. Hiippily, however, ('apt. Tayler's invention entirely removes nil difficulty, and effeitive and cnjia- cioui Harboiirs can now \»- made on every part of our coasts at a (cmiparatively trifling ex|iense ; so much .so, that, stnrthng as the Hssertion may seem, the preirml Companx) ran bif their method form one hundred ami eighty mch karboum and pliiem of reftiije at a rott of len) than the turn rttimntcd bg thr GoveinmiHl Cum- miuionem, lu the oullau rei/uiiile ( bg the old moctioiis to still cir smooth wntpv. Tl\is facility of ronstTuctimi onnhlps this improved Uirnkwatcr to bo ndixiul luu! Ilarlxmrs formed on any, even the most exposed und dangerous, lociJities. The forms of these doatin" sell ions will vary nceording to the exigencies of the varions situations. In seas and deep waters tliey will Iw entirely floating; and for shallows and in-shorc protection, moveable piles, sluices, and dock gates IH'culiar to this invention art adopted. Iiule|H'ndent of the sanction of llie numerotis distinguished I'atrons of this plan, as now presented to the public, its practicability and efBcncy has been tested on n small scale, and has obtained the approval of nautical and scientific men, the best able to decide on its merits. Ik-sides the vast saving in the cost (ten thoui^and pounds expended by this plan being more effi-ctive liiau ten hundred tlnmsand by stone Hre;ik\v,ilcrsj thi.s Moating Ilreakwaler iwssesses many advan- tages of incalculable suiH>riurity over all others. Such m the very short space of time requisite for its con- struction, four or ti\e months Ix-ing amply sufficient. lis being made in sections, also, renders its repair at any given part an easy o]K>ration, Iwth as regards tinu- and expense, although it can 1h' confidently asserted that no repair will Iw neede adoptevill also serity of their trade. The invention is also jH>culiarly adaptt'd for iinjiroviug and enlarging, at a trifling experiee, «ild harlwurs. rendering their access easy for ships in distress, and clearing their channels, and removing mild de|)<)sits, liy lonccnirating the force of the tide or currents ; and we may fairly rely that there is scarcely u single |>ort in the united kingdom which will not avail itself of the benefit now presented bv having some 8<-ctii)ns of the llrcak water laid down, tiie cost being so comparalively small and the advantages iM'ing .so great ; particularly as the parliamentary returns sliew, that wherever a liailxjur has l)een improved, or increased harlK>ui accomnmilation afforded, trade has invariably risen at an extraordinary rate, and .the harbour dues have also in like manner as rapidly and progressively increased, as tht- following extract from those ofncial returns prove :— I.iterpodt (ilugOW . i;uu I isuo I isiu £IO,(m] i:23r1"»| til9,7»i ISIS j ism j 1H-.M £».XIO C0,.1UU i CIK.'.'UU l>iin(lee . . I -I- ISIO I 1823 1HM £Mou I CT.KOo I £ii,ono' INIO I 183.1 I IH3U i:il4,ll2CI2S,n(IU £161,93(1 ■ ^ . . i IHWl ; ls;n I Ik;1(! £2(I,INJ0| £33,000, £37,(1011 1834 £9,000 I8SA 1837 £12,000 £1.1,000 1833 I l(irr('ii«-(l im 40 Yi'in £|S7,ll)tO £l7'i,»43 litcrfiineii in 31 Yi'»r> £31,100 Incr(*(wc(i In 'i\ \vK% £11,200 i; , 'Hie following is the numlN-r of vessels Ix'longing to (lillereiit nations, wlii( h passed the Lizard I'oiiil in the nninw (if a single year, Kiillli.sh LijOtK), Ainrriian and French 3,150, Danes and Sweiles ICIJOO, rrussians and Norwegians, Dutch, and Russian UKK), Spanish, Portuguese and others 500, making a total of !iO,()50 vesstls ; and taking the average to 1k' ten men to every ship, gives the niimlK'r i!(Mi,.5()0, und of these vessels 15,000 (with l.'iO.OOO soulson board, i pcss the land's end e\ery year, srly to the amount of i;;l,(M)0,000. Were harlxMirs iiiid ]da(es of refuge formed, as conli'm|tluteany, this dreadful cak- mily woidd, it i8(d)viims, U- in great part averted, and tlie fearful sa( ritice of life ar. 1 property would Ih! greatly diminished. The result to the .Shareholders on the (employment of the Company's works und means in such a mentnnoUH cuuse, ( annot fail to eUBure u return in a |mm uniury jMiint of view, which will far exceed the most snnjjuine (AiM'clalioiiii. iiikI n iii^Mt(l«»Hiit|Mi);Vlie fc»t,W w«.ri(Atulal4»« (iKifii. of 6IOA>{M'r^i.'nlki^tlMJl*JeMl (^ flM. «H|«i;iWe»(>(%iM. .Vnd in addition to the main objeds of lias inveiilinn, the principle can mi>»t miccessfiill) und profitably Iw extended to various other ini|Kirtaiit objects, of minor, though scarcely b'ss iwful |i(ir|X'«'s. -iicli as ihe protedion of eniliankioenls, f(>rliti( alioiis, piers, mill dains, l>ndges, &c. which are iio« e\|Mned to the iitirc-iHied fiir> ol tlie sea ; vessels on shore, can also lie pidtetted from further damage by nKHiring s<>cti(ms of tlie lireakwater near them. The prevention of the sea's encroachment on lowlands siibjei t lo iis visilation*, will also form a materiiil feature of the iililiiy of this invention, and its application in aid of ii|ii'rations for regnininu lnii(l> from the water) •dement, «vill s«-nsibly diminish the ex|K«»siire und exertions liavesiifh pressing claims on everx fiiend to Imnuinilv Jroakivatcr to he ; forms of these lU'cj) wafers they and dock gates IS now presenteil the approval of |)lan beinn; more s('s nmiiy advan- site for its roii- ilcrs its repair at ifidently assorteil t hcronie neoosg- iioos to hnrlioiirs (ers. lot only none at 1 the faeilities of Ml deterrcil from t. Tlic incieos- iccs, which have le. ing pxperice, old removing mud iTc is scarcely u )y having some » iM'ing so great ; ed, or iucrcuscd !>' harhuur dues )m tho(>e omcial iRsed the Li/aril .1 Swo«ies irton, taking a total of K), und of these lliaii one voyage; a loss of life of is dreiulful rala- vould \>v greatljr means in such a nxcoed the mo«t .-iilkiUiMliAjeMl ' principle tan gli scunt'ly less s, &( . which are thiT damage liy owliindH subject icatiim in aid of of such under- liy the stcamcrN itlay security In 'e and cxcrtiuni The limits of a Prospectus will not admit of further exemplification of the numerous advantages of this invention, or of the useful purposes to which it can be successfully made applicable ; RiifRce it to say, that it is quite apparent so great and national an undertaking, can only be taken up through the medium of a ('ompany possessing an adequate capital, ■with the requisite nautical talent, to ensure the construction and general adoption of the Floating Breakwater, on a scale commensurate with the urgent wants of the nation and the public service. The following is a summary of the objects to which this Company will direct its proceedings. — Ist. They yriW contract with Harbour Trustees to form harbours upon the principle of this inven- tion, and to construct and improve landing places, jetties, &c. either for a specific sum or upon a participation of the harbour dues. 2nd. To lay down the same on an aniiual payment, to Xk sctded with the eor]K>rations or inhabit- ants of the place requiring it. , 3rd. To {timi^h sections of the Breakwater for various purposes. 4th. To forming new harbours where authorized, receiving the income arising from entrance dues, piIot«, protection, &c. 5tli. To contract with Government to supply for specified sums or annual payments, a given quantity of berthage for anchorage and protection of steamers, revenue and other vessels of war. 6th. To afford protection in fishing places to fishermen, and small coasting vessels, at a certain agreed rr.te. 7th. To provide sections of the Breakwater for the protection of vessels when on shore, so as to prevent their total destruction or further damage by the action of sea, participating in the salvage returns or receiving other unumeratiun to be agreed on. 8th. To lay down Breakwaters or sections thereof, to sectire and protect embankments, fortifica- tions, piers, mill-dams, bridges, landing pUices, &c. ; or to protect the encroachments of the sea, for fixed sums. 9th. To form floating bridges, also floating piers, rising and falling with the tide, and ensuring safe landing at all periods uf the ebb and flow. 10th. To provide Breakwaters for the regaining lands from the sea, either for a specific sum or a (Murticipation in the advantages to be derived from what is to be regained, at the option of the Company. 11th. To grant licenses to capitalists and municipal corporations for the erection of the " National Floating Breakwater." It is calculated that the inconi.: arising from the above various heads of jirofits ^vfll be amply sufli- cient to ensure a large annual dividend to the shareholders, while the principles upiiu vhidi tliis Company will act, in its various operations, will preclude all liability of risk or loss to the sharcholdiT, as no sliiueholder will in any evi'Ut he liable l)*yond his subscription, and no calls will be made except for tho p>irpns(>s nliove siMM'ificil, and care will bo taken to obtain sufficient security for the outlay of fumis, and the return of a icniuuc- rating rate of interest ujwn the expeiulcd capital. 4lW coiHidenMy c3{I>ec^l,"4hat-«ot more »J»«n'*hTeCTniHii will cTBrlte relfCtirMH -wul no call to be for more than two jiounds, nor at a less interval than two months. Trustees will be named and the list of Directors (in whose management the affairs of the Company will be vested,) filled up and published in a few days. A general annual meeting of the Proprietors shall be held in each year, to receive the report of the proceedings and the audited accoinils for the preceding year. And for the security of the shareholders, a charter of incorporation or act of parliament will be a|ipliedfor. The following is an abstract from the Ueport of the Parliamentary Committee above referred to : — " That from the Frith of Forth to the mouth of the Thames tliore is no Harbour, which in the strict ac- Mcpptance of ihc term can b« called an " Harbour of Refuge ;" thai all arc Tidal Harbours, and only accessible at crrtniu t, limes of the tide." j^ They also report, " That on llic North West Coasts of Wales, there is ii great deficiency of Harbours of ff Hefuge for thipi iiiling to and from Liverpool." They then recommsBd tlie fonuntioii of several harbours of refuge on the portion of the coast, to which „ their enquiries extended, and from the evidence given, it is decided that a great many more iiru absolute necessary to I, give the rpipiiiite security to our shipping. They say, that it is " Of vast importance llint every security should be afforded to the very extensive I, coaating trade of this part of Europe, particularly to that portion of it employed in flu? coal trade, and on which, the „ ri'gnliir supply and consequent chcipnois of so nocessury an article to this vast metrniHilis mainly depends ; that this „ constantly increasing dsiumid, can only be regularly met by an uninterrupted intercourse at all seasons of the year, t, between London and the ports of exportation on the north coast of England, that llie vessels so engaged are during „ many ninnths of the year exposi'd to violent gales of on-shore winds on an iron-bound coest, to llie great danger of life ,, and property." In this ovidenre, the great luM uf life and properly on this roost from lh<< want of harbours uf refuge, ii fully developed.