The Sun.
London, England, 1864-03-28 00:00:00

PROSPECTUS,

Althomh the system of joint-stock banking has been esta-
blished to meet the requirements of moat departments of
trade, it has trot been •ntroduced for the business of the agri-
cultural and cattle markets of the metropolis ; and though
the population has doubled within the last 25 years, and, con-
sequ ntly, the necessary quantity of suppies, yet the whole
business, amounting to 15 to 2 ) millions per annum, is left in
the ha ds of a few private firms.
The Albion Bank is introduced to prod le increased facili-
ties for this tr de by establishing an office in the City, as well
as at Smithfield and the Metropolitan Cattle Market ; and
subsequently. should it be ,ound desrable, by opening branches
in the agricultural districts.
The value of t.,e rapidly-increasing commission business
to be transacted by the Albion Bank can be readily appre-
ciated by a knowledge that the method in which dealings are
+rried on at the Cattle Market consti utes the Bank the
depository of all the moneys passirg tom the buyer to the
produ er.

The Bletropoll'an Meat or Poultry Market in in Smithfield,
now in course of erection, is destined, by the terms of the
Act of Parliament, to combine and supersede all other mar-
kets for meat in the metropolis. To this market will be con-
centrated all transactions for the supply of butchers' meat,
poultry, and other produce to the inhabitants of the metro-
polis and a circle of 14 miles round it.

The Direc7orShl.viii„cOiiiiined the provisional agreement
for the purchase of the lucrative business of Messrs. Challis
and Son, the advantage of commencinz upon an established
conneeti• n, under competent and experienced ana:Tement,
will be secured to shareholders from the commen:em. nt of
business, by which the dire•tors are warranted in expecting
that they will be enabled to declare a dividend during the
first y ar.
Th t the number of joint-stock banks may be advan-
tageously increased (more particularly under special cir-
cumstance , such as have led to the formation of tne
Albion Bank), is demonstrated by the fact that, so late
as six years ago, when the number of joint-stock banks
in London was not more than six, their total depo.iits
did not exceed £2 ',009,000 ; wh,le, now that the number
of these banks has been doubled, the joint deposits are
already more than trebled, amount,ng to a total of £71,792,309.
The dividends of the older banks range from 1..5 to 30 per
cent., in accordance with the da es of their establishment :
and the premiums on their shares are from 260 to 3( 0 p r
cent. in a precisely similar ratio. The deposits and dividends
of the joint-stoc4 banks recenily formed show a rapid pro-
gress towards identical results.
Should no allotment take place, the deposits will be re-
turned in full. Should a less umber shar. abe allotted
than are applied for, the deposit will be made avail able to-
wards the payment on allotment, and the balance, if any,
returned t i the a plicant.
A- plication for shares may be aldresied to the hankers,
brokers, or directors of the Company, and to the secret iry at
the offi.i. s of the Company.

THE ALBION BANK (LimitPa),
The Directors have to announce that the PIIOVI-
SI, )NTAI, AGREEMENT for tie PURPTIASE of the Old-
eslab ished BANKING BUSINESS of Messrs. CIIALL IS
and SON, together with their B ,nk Premises, No. 16, Nest
,mithfield, and Bank Buildings, Nietrnpolit ,n Cattle M ezet,
has ,een GNP] RMED ; and tha' Mr. Thoma, M. Challis,
thew:five partner in Vie firm, will be the General Manager of
the Albion Bank (Limited).