The Sun.
London, England, 1863-01-12 00:00:00

THE BRITISH and AMERICAN EXCHANGE
BANKING CORPORATION (Limited).
Established under the Companies Act, 1862, with Limited
Liability.
Capital, £1,000,000 sterling, in 20,000 Shares of £5O each.
First Issue 10,000 Shares.
It is not intended to call up more than .C? 5 per Share.
With power to the Shareholders to increase the Capital.
Deposit, £t per Share on application, and £1 per Share on
allotment.

DIRECTORS.
Archibald Boyd, Esq., Director of the Union
Bank of London London.
William James Fernie, Esq., of the firm of
Fernie Brothers and Co.
James Gilchrist, Esq., of the firm of Gilchrist,
Watt, and Co., of Sydney, Director of the
Union Bank of London
Robert Gillespie, jun., Esq., of the firm of Gil-
lespies, Moffatt, and Co. London.
Henry Gebrge Gordon, Esq , Chairman of the
Oriental Bank orporation London.
Harold Littledale, Esq., of the firm of T. and
H. Littledale and Co
William M. Neill, Esq., of the firm of Neill
Brothers and Co.
Thomas Rees, Esq., of the firm of R. and T
Woodward and Co
Rennie, Esq., of the firm of Cavan,

Lubbock, and Co London.
Samuel Stitt, Esq., of the firm of Stitt Brothers
and C 0... Liverpool.
BANKERS.
London—The Union Bank of London.
Liverpcol—The Bank of England.
Manchester—The Bank of England.
India and China—The Oriental Bank Corporation.
SOLICITORS.
London—Messrs. Cotterill and Sons.
Liverpool—Messrs. Fletcher and Mill.
BROKERS.

London—Sheppards, Pelly, and Alloard, 98, Threadneedle-
street ; J. and J. Whitehead, 8, Moorgate•.street.
Liverpool—Horsfall and Addison.

TEMPORARY OFFICES.
6, Newman's-court, Cornhill, London.
Middleton Buildings, Rumford-street, Liverpool.
- - -

The British and American Exchancte Banking Corporation
(Limited) is formed for the purpose chiefly of dealing in Ex-
changes, a business which, excepting with British posses-
sions. has hitherto been mainly in the hands of private firms;
and it is well known that with many countries such banking
facilities have not been afforded to merchants and others as
the vastly extended commerce of the present day demands.
This is particularly the case in the trade between England
and America, and it Is vro posed that this Corporation shall
commence its operations by the establishment of an agency
in Nt w York.

The profitable nature of exchange bu-iness is well known,
especially that with the American States, and although the
profit is at present greater than can be calculated upon in
ordinary years, there is general:y a much larger margin than
is usually found remunerative by bankers. The purchase and
sale on commission of securities in New York and London,
the dealings in which amount annually to many millions
sterling, and the remittances of interest and dividends, will
afford other sources of profit.
The practice now become very general of attaching bills of
lading to bills of exchange as collateral security, renders ex-
change operations more than usually safe, whilst the ship-
ment of gold involves scarcely any risk whatever.
The shipments of produce and specie from New York alone
for the past year have amounted to nearly forty millions
sterling, and the average of several years has not been
much less. There is thus a very extended field for the ope-
rations of the Corporation, and the facilities which it will
afford, both in this country and America, must tend to pro-
mote, and still further to extend, the commercial and mone-
tary transactions between the two countries.
The same remarks are applicable to other places in which
the establishment of agencies is contemplated.
A large business is also anticipated betwixt America and
the ports in India and China, which will be carried out in co-
operation with the Oriental Bank Corporation.
The success of Joint-stock Banks dealing in Exchange is
evidenced by the present quotations of the shares of the un-
dermentioned companies ; and it is somewhat remarkable
that the joint-stock principle has not yet been adopted in the
American trade, though presenting a wider field for its profit-
able operation than any other part of the world.

Paid-up Present Prices.
Bank of Australasia 4O 69 to 71
New South Wales 2O .... 49 „ 51
Union of Australia
London Chartered of Australia
Oriental
Agra and United Service
Mercantile Bank of India,London, and
China 25 .... 41 „ 53
Ottoman
Colonial 25 .... 41 „ 43
The Corporation will have offices both in London and
Liverpool.
The Corporation is formed under " The Companies' Act,
1862," whereby the liability of the shareholders is strictly
limited to the amount of their respective shares.
No promotion money will be given for originating the un-
dertaking, and the preliminary expenses will be strictly con-
fined to such as are indispensable.
Applications for shares may be addressed in the annexed
form to the Directors, or to the Brokers of the Corporation,
and copies of the prospectus may be obtained upon applica-
tion to them, or to the Solicitors, or at the London and Liver-
pool Offices of the Corporation.