The Sun.
London, England, 1855-11-26 00:00:00

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NAME OP BAIII. *4-61
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£ £
London and Westminster .. 1834 1,000,000 20 47 161
London Joint Stock ...... • • 1836 600,000 10 323 25
Union Bank of London .... 1839 422,900 10 30 20 2,
London and County • • .... 1839 394,135 20 394 12 r.;
Commercial Bk. of London 1840 300,000 20 31 10
Royal British Bank.. ..... . 1849 100,000 50 • • 6J

The above banks publish the followinz facts with regard
to their positions :—•
I. The entire amount of subscribed capital in the six joint-
stock banks in Louden is 12,704,2001.
11. The amount thereof paid up is 2,817,0351.
111. The amount of deposits, or customers' balances, is
29,376,4101.

IV, The total number of shareholders is 4,097.
V. The number of shares issued, 187.084.
Thus is presented proef of known security, extent of busi-
ness, and general financial resources. These establishments
hold half-yearly meetings, and lay before their connections
full accounts of their progress and general operations. Tnis
course cannot fail in inspiring with confidence all who have
any dealings with them, while it gives to the public the
means of forming an opinion as to their responsibility.

INCREASED VALUE OF JOINT-STOCK BANK SHARES.

it is proved to demonstration, that joint-stock banking,
under proper supervision, affords a most legitimate and un-
usually profitable field for the investment of capital. The
dividends paid by the banks above quoted vary from 6 to 25
per cent., and the latest quotations of their shares show an
increase of 55 to 225 per cent. on their paid-up capit 1. The
real increase, however, in the value of the shares may be bet-
ter understood, by the fact that the paid-up capital of these
six banks is 2,817,035/ , and that its present m krket value is
6,912,1161. It has thus increased two-and-a-half fold, so that
every 1/, has now become 21. 10s., and there is every prospect
of this amount continuing to increase in value.
COURT OF DIRECTORS OF THE UNITY BANK.
GOVERNOR,
J. J. MECHI, Esq., Tiptree Hall, Kelvedon, Essex.
WILLIAM JOSEPH BRUCE, Esq., 16, Duke-street, West-

minster, and 4e, Hyde-park-place, Cumbellaud-gate.
G. L. P. EYRE, Esq. (Messrs. Trinder and Eyre), 1, John-
street, Bedford-row,
THOMAS CARLYLE HAYWARD, Esq. (Messrs. Hayward

and Sons), 93, Minories; and 3, Higlcbtiry-park North.
MAJOR HENRY STONES, LL.B., 33, Nottingham-place,

Regent's-park.
ROBERT GARLAND, Esq., Thames-chamber, York-build-

inga, Adelphi, and Belfiore-lodge, Highbury.
THOMAS IL BAYLIS, Esq., Cannon-street, City; and 4,
Nottingham-terrace, York-gate, Regent's-park.
Dr. LLOYD, 4. Suffolk-place, Pall-mall.
ROBERT JAMES SNAPE, Esq., 2, Stone-buildings, Lin-
coln's-inn.
EDWARD GOULD BRADLEY, Esq., Heathland-lodge,
Hampstead."
MAJOR MARTIN MULKERN, Ightfield-house, Alsop-
terrace, Regent's-park.
BANKERS.
THE LONDON AND WESTMINSTER BANK.
SOLICITOR.

THOMAS TAYLOE, Esq., 27A., Bucklersbury, London.

BROKERS.

Mews. R. and J. SUTTON, 22, Royal Exchange, London.

GENERAL MANAGER.
GEORGE CHAMBERS. EN.
(from Messrs. Barnett, Hoare, and Co.)
SECRETARY.
HENRY LAKE, Ese.

Each of the directors is duly qualified, having subscribed
for twenty shares, and paid the deposit of 1,0001., in accord-
ance with the deed of settlement.

THE NEW PRINCIPLE INTRODUCED BY THE UNITY

BANK.

Regarding the distinctive principle of the Unity Bank, it
has been suggested that there must be a detraction from the
profits of the shareholders, by reason of 51 per cent. being
given to the customers of the bank. This idea can only have
arisen, however, from the want of a careful consideration 0!
the whole subject. In the first place, it is necessary to re-
member from whom the profits of a bank are derived. They
are not made from the share capital. The very first ingredi-
ent for the formation of profits is a customer. The amount
of profit must, therefore, be governed by the amount of bu6l-
- transacted ; and the larger the business. provided it be
properly conducted, the larger will be the profits. It must be
borne in mind, also, that the real extent of the dividends must
depend on the number of cents. of profits and that 50 per
cent, of the profits, extending over large transactions, may
be far greater than 100 per cent. derived from more circum-
scribed business. If, then, the customers of a bank consti-
tute its profits, the customers should be induced to transact
their business with the bank, and thereby the profits of the
shareholder, instead of being reduced, will be augmented.
The inducement held out to the customer, however, should be
such as does not involve or complicate the business of bank
ing. It should not be by the promise of some peculiar accom-
modation, or some particular and increased rate of interest,
or by any departure from that sound system of joint-stock
banking which has stood the test of years of experience, and
procured so great prosperity. But it should be, as it is in
the Unity Bank, an advantage which interferes in no degree
With established principles, but merely allocates a portion of
that which has already been declared to be profit to those who
have been the makers of it. Assurance companies have been
accustomed to apportion certain of their profits, by way of
bonus, to their assurers ; and so general has become the re-
cognition of the right of the assurer to this participation, that
no assurance association would now be established without
this essential to success. The justice of the principle consists
in this—that as the mums make the profits of the company,
they ought to be participators in its prosperity. What is
just in assurance will be found just also in banking. The
Customers of a bank make the profits of the bank, and they
alight also to be participators in its prosperity.
It has been asserted, also, that the 50 per cent. of the pro-
fits proposed to be divided, while it would detract from the
profits of its shareholders, would be but a trifling benefit to
the cwitomers. It might, in the first place, be replied that
no benefit is considerid " trifling" by those who rightly esti-
mate Peetmiary affairs ; that the benefit, if trifling, is in addi-
tion to all the other benefits usually derived by banking at a
joint-stock bank ; and that no correct data can be formed of
the profits which will be made. On the other hand, it must
be remembered that hitherto persons have taken their bank-
ing account where personal feeling, accommodation, or con-
venience of locality might lead them. Now, for the first time,
by the introduction of the principle of mutuality, self-interest
is appealed to. And when, to the large number of the public
attracted by this all-powerful stimulus, is added the number
of the connections of the Unity Insurance Associations in all
parts of the country, who have a peculiar identification with
and interest in its success, it may fairly be stated, that ante-
cedent data are not sufficient to form an estimate of the ad-
vantages which both the shareholders and customers will
derive from the Unity Bank.

Great difficulty exists in estimating the effects likely to be
produced by the establishment of this now and most desirable
feature in banking. It is one that must become highly popu-
lar 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 largo 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 navi-
gation, insurance, and other companies, professional men,
merchants, brokers, gentlemen of fortune, and traders of all
kinds,, will duly estimate the difference in the system now
proposed, from that heretofore existing. In fine, as loint-
stock banks became a public necessity, as is now proved, so
will the principle of mutuality—whereby these admirable in-
stitutions may be rendered still more serviceable to the public,
and in no way less safe—demand the beat consideration of the
community at large.
BUSINESS TO BE UNDERTAKEN.
All the usual business of banking will be undertaken ; and
arrangements will be made for extending the transactions of
the Bank in every desirable quarter.
Cusam ACCOUNTS will be made up half-yearly, namely—to
the 30th of June and the 31st of December, and interest will
be allowed at the rate of 2/. per cent, on them.
%roan ACCOUNTS.—With respect to these, the rate of in-
terest allowed on money placed at seven days' notice will be
1/. per cent. under the rate of discount on first class bills
adopted by the Bank of England, regulated thereby. The
bank will give receipts for the sums so deposited, or, for the
convenience of depositors leaving England, promissory notes,
or bills, including interest as well as principal, at not less
than six months' date.

The bank will undertake the agency of country and foreign
banks, whether joint stock or private, and will afford every
accommodation to travellers and others with respect to circu-
lar notes and letters of credit. It will receive all kinds of
income for its customers, including annuities, dividends, mili-
tary, naval, and civil officers' pay. It will undertake the sale
and transfer of stock in the public funds, dm. ; and will be
responsible for the safe custody of title deeds and other secu-
rities belonging to its customers, to which they will at all
times have convenience of access.
Application for prospectuses and forms of application for
the remaining shares, to be made to Messrs. R. and J. Sutton,
stock brokers, 22, Royal Exchange ; or to the secretary, at
the principal offices, 10, Cannon-street, City.
HENRY LAKE, Secretary.

FORM OF APPLICATION FOR SHARES.

TO THE DIRECTORS Of THE UNITY JOINT-STOCK MUTUAL BANKING

ASSOCIATION.

Gentlemen,— I request that you will allot me shares of
1001. each in the above association, and in consideration of
such allotment, or any less number you may appropriate to
me, I hereby undertake to pay the deposit, or first call of
101, per share thereon, and 401, at the time of incorporation!