The Express.
London, England, 1852-11-15 00:00:00

CHARTERS FOR NEW COLONIAL BANES•

A correspondent says there aro now under
consideration by the Lords of the Treasury and the Corn-
misdate?, for the /drain of India, the drafts of two
eltarten, one for the Bank of India, and the other for the
Bank of India, China, end Australia. A report having
gained currency that it was proposed to give by thew
charters a liability to the share olden limited to tho
amount of their shares, the Liverpool Chamber of Com-
merce, moved by the recollection of undue eacctusgement
given to speculation in our colonies in times part, were pre-
pared to remonstrate against such a course, and sought tho
aid of other bodies constituted like itself for the protection
of oasanteree. The Blanchester Commercial Association,
however, thinking it desirable to know how far the report
was sorroot before they took action, addressed the Board of
Trak ea thieabject, and have received an saplanation in
the illowis letter, which will be reed with interest in all
emammeielskelee :

" Glace of Committee of Privy Council for Trade,
" Whitehall, Nov. 12, 1862.
" 81r,—I am directed by the Lords of the Committee of
Privy Council for Trade, to acknowledge the receipt of your
letter of the 4th inst., in which you state that the directors
of the Manchester Commercial Association have learned
that the promoters of a joint stock company proposing to
establish banks in India, Chins, and Australis, are seeking
to obtain from her Majesty's government a charter limit-
ing the liability of the shareholders to the amount of their
=lye subscriptions, and you desire to be furnished
oopy of the charters so applied for.
"In reply I am testate to you, for the information of the
directors of the Manchester Commercial Aasociation, that
two draft charters, the one for the Chartered Bank of
Indis, Australia, and China, and the other for the Bank of
India, for which application has been made, have been re-
fend by her Majesty in council to this department for
their report. These drafts have been submitted by my
lords to the Commissioners for the Affairs of India and the
government Lords of the Treasury, and are now under the
consideration of those departments.
" With reference to your question whether similar pri-
vileges as to limitation of liability have been granted by her
Majesty's government to like establishments, either in India
or any other dependency of Great Britain, I am to inform you
that no charters for the establishment of banks in India
have been granted by her Majesty's government,and that no
charters by which the liability is restricted to the amount
of the subscriptions of the shareholders, have, of late years
at inet. Warranted for establishing banks in any other
of Great Britain. According to the rules estab-
=y her Majesty's government in 1846 with respect to
ehartem to be granted for the incorporation of banking com-
panies In the colonies, it is the practice to insert in charters
of ineseparalies granted to banking companies in the colonies
a provides mkt which the shareholders are responsible
at tiro migasomoste of the company to the extent of twice
the nmarant of their subscribed shares, that is for the amount
subscribed, sad for a further additional amount equal
thereto.

"I am to add that my lords regret that they cannot
comply with your request to be famished with copies of
the chamen applied for.
" I am, Sir, your obedient servant,
Hugh Fleming, Bog." " JAMBS BOOTH,"

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