The Sun.
London, England, 1855-11-10 00:00:00

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London and Westminster .. 1834 1,000,000 20 47 161
London Joint Stock ........ 1836 600,000 10 3214 25 2
Union Bank of London .... 1839 422,900 10 30 20 '67
London and County •..... 183 v 394,135 " 20 391., 12
Commercial Bk. of Londo' 1841 300,000 20 31 10
Royal British 8ank........ 1845 100,000 50 .. j 4,;)

The above banks publish the' following facts with regard
to their positions

I, The entire amount of subscribed capital in the s x joint-
stock banks in London 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 proof 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. This
course cannot fail in inspiring with confidence all who have
s.ny 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 percent. on their paid-up capital. 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 2,817,0351., and that its present market value is
6,912,116/. It has thus increased two-and-a-half fold, so that
every 1/. has now become 2/. 10s., and there is every prospect
of this amount oontinuing to increase in value.

COURT OF DIRECTORS OF THE UNITY BANK.
OCVERNOR.
J. J. MECHI, Esq., Tlptree Hall, Kelvedon, Essex.
WILLIAM JOSEPH BRUCE, Esq., 16, Duke-street, West-
minster, and 4A, Hyde-park-place, Cumberland-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, Highbury-park North.
MAJOR HENRY STONES, LL.B., 33, Nottingham-place,
Regent's-park.
ROBERT GARLAND, Esq., Thames-chamber, York-build-
ings, Adelphi,and Belfidre-lodge, Highbury.
THOMAS H. 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-
EDWARD GOULD BRADLEY, -rsci., Heathland-lodge,
Hampstearl-
MAJOR , MARTIN MULAtnn,N, Ightfieldlhouse, Alsop-
terrace, Regent's-park.

- BANKERS.
THE LONDON AND WESTMINSTER BANK.
SOLICITOR.
THOMAS TAYLOE, Esq., 27e., Bucklersbury, London.

BROKERS.
Messrs. R. and J. SUTTON, 22, Royal Exchange, London.
GENERAL MANAGER.
GEORGE CHAMBERS, Esq•
(from Messrs. Barnett, Hoare, and Co.)
SECRETARY.
HENRY LAKE, EsQ.
Each of the directors is duly qualified, havinc, 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

Regarding the distlnetive
BANK.
principle of the Unity Bank, i
has been suggested that there must be a detraction from the
profits of the shareholders, by reason of 50 per cent. being
given to the customers of the bank. This idea can only have
arisen, hoWever, from the wait of a careful consideration of
the whole subject. In the first place, it is necessary to re-
member from whom the profits of a hank are derived. They
are not made from the share capital. The very first ingredi-
ent fur the formation of profits is a customer. The amount
of profit must, therefore, be governed by the amount of busi-
ness transacted ; and the larger the business. provided it be
properly conducted, the larger will be the profits. It must be
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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 iaereaseti 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 prieciples, 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 assurers make the profits of the company,
they ought to be participators in its prosperity. What is
just in assurance will be sound just also in banking. The
customers of a bank make the profits of the bank, and they
ought 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 bo but a trifling benefit to
the customers. It might, in the first place, be replied that
no benefit is considerid " trifling" by those who rightly -esti-
mate pecuniary 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 theo public
atracted 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 new aad most desirable
feature in banking. It is one that must become highly, popu-
lar with every commercial interest, and with every class of
tho public, because its simplicity and advantages are at once
to be seen and appreciated.
To those great commercial bodies which ire compelled to
have large cash balances constantly at ther.rbankers , it will
i
prove to be a serious consideration, and otsmost important
source of profit. The railway', dock, gas, wsiter, steam •navi-
ceable
gation, insurance, and other companies, ilrofessional men,
merchants, brokers, gentlemen of fortune, and tra.ders of all
kinds, will duly estimate the difference in the system now
proposed, from that heretofore existing. In fine, as- joint-
stock
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BUSINESS TO BE UNDERTAKEN.
All the usual business of basking will be undertaken ; and
arrange%ents will be made for extending the transactions of
the BanlE in every desirable quarter.
CURRENT Amer= will be made Up half-yearly, namely—to
the 30th of Juno and the 31st of December, and interest will
be allowed at the rate of 21. per cent. on them,
DEPOSIT Accourrs.--With respect to these, the rate of
oin-
terest alloWed on money placed at seven days' notice will be
1/. per cent. under the rate of discount on first clads bills
adopted by the Bank of England, regulated thereby' The
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psriotedmisst,' notes,, or, for the-
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, &c. ; 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
time have convenience of access.
Application for prospectufielpad Paw of application for