The Press.
London, England, 1855-06-30 00:00:00

ADVANTAGES TO CUSTOMERS.

It is in this important particular that the Unity Joint-Stock
Mutual Banking Association differs from all other existing
banking institutions. It is the first to propound and offer for
public support a principle so equitable and so calculated to fa-
vourably advance the intetests of all parties. No good reason
can be assigned why a bank should not acknowledge and reward
the services of those who contribute to its profit and success, as
assurance companies recognise those who assure their lives or
property. It is well known that of late 'ears assurers have been
permitted to participate largely in the bonuses of those institu-
tions, with the most successful results.

With a view, therefore, to applying this well-known and highly-
appreciated principle to the business of banking, after having
made due provision for reserve fund, to be regulated by the
shareholders, under the advice of the directors, and paid N. per
cent interest per annum on the paid-up capital,
The Deed of Settlement gives to the Customers,
as interest on their cash balances, in addition
to the ordinary amount paid on deposit and
current accounts, • sum equal to the interest
paid to the shareholders, that is
The deed, however, does not render it compulsory on the cus-
tomers to acbept such additional interest, but provides that any
customermay, on opening his account, elect whether lie will or
will not accept the same.
This plan, it will be observed, creates strong interest with the
customers in the bank, who thus become much concerned iu ex-
tendiog its business. It will be the means of opening up new
business in quarters where banking has nut hitherto been
adopted ; it will have a strong tendency to consolidate and preaerve
the attained connections of the bank; and it will thus advance
its own interests, and be productive of practical benefits to the
public generally.
Great difficulty exists in estimating the effects likely to be
produced by the establishment of this new and most desirable
feature in banking. It is one that must become highly popular
with every commercial interest, and with every class of the
public, because its simplicity and advantages are at once to be
seen and appreciated.
To those great commercial bodies which are compelled to have
large cash balances constantly at their bankers, It will prove to
be a serious consideration and a most important source of profit.
The railway, dock, gas, water, steam navigation, insurance, and
other companies, professional men, merchants, brokers, gentle•
men of fortune, and traders of all kinds, will duly estimate the
difference in the system now proposed from that heretofore ex-
isting. In tine, as joint-stock banks became a public necessity,
as is now proved, so will the principle of mutuality, whereby
these admirable institutions may be rendered still more service-
able to the public, and in no way less safe, demand the best con-
sideration of the community at large.

eII3NE 30, 1855.

. '
7,
fa E
fa .2. c..oi
0 a,
a,
a•••
00
cn 0 0
I. e
3
3
3
3
3

1,000
1,000
1,000
1,000
1,000

ion
dav!
E
;7;

1.4
z„,

C s,

Z. s. d.l

SO 16 019 19 2
34 18 026 19 19,
42 3 037 10 101
53 6 057 4 2
63 12 072 5 0'

d.
. 15 15 2
1,20 18 4
1129 11 10
!44 19 2
156 12 0

Annual Pre-
returns.