The Sun.
London, England, 1863-10-07 00:00:00

PROSPECTUS.

The Company is formed under a direct concession granted
by the Imperial Government, for the purpose of promoting
and extending commercial and financial relations between
Austria and England. These relations are daily increasing
in importance under the influence of the ameliorated political
and fiscal system which has been definitively adopted by the
Austrian Administration and Legislature.
The Company will carry on the ordinary business of a Bank
of Deposit, Discount, and Exchange, and all operations con-
nected with BankingtransactionE and Financial Agency. The
head office will be inVienna, with branches at Trieste,Prague,
Brunn, and other towns in the Austrian empire in which it
may be found profitable from time to time to form establish-
ments.

In _England, the interests of the Bank will be represented,
and the business conducted by the English members of the
Board, Messrs. Glyn, Mills, and Co. being the Financial
Agents and Bankers of the Company.
The Directors point with satisfaction to their having se-
cured the services of Mr. Francis Breuer as th it London Ma-
nager. Mr. Breuer's experience of German Commercial and
Financial business—acquired during 25 years' service with
the firm of Messrs. Fruhling and Goschen—pecu' iarly qualify
him for the efficient performance of the important duties to
which he has been appointed.
The Concession has been obtained by the Directors, and
made over by them to the Company, without consideration or
other charge than the preliminary expenses, which will be
limited to the disbursements made, and are of small amount.
The Company has not been brought forward until, by care-
ful negotiation, it has been ascertained that its formation is
desired by the Austrian Executive, and that, besides the grant
of a direct concession, the Imperial Government will be pre-
pared to open an account current with the head office of the
Bank, and to employ the branches of the institution in a va •
riety of ways, in facilitating the revenue collections and other
operations of the Government, not overlooking the import-
ance of the measures which are being constantly directed to
the complete re-establishment of the paper currency upon the
soundest basis.
As some evidence of the satisfactory result of the negotia-
tions which have taken place the directors are authorised to
insert in this Prospectus the following extracts from a Minute
delivered to the Company by his Excellency M. Von Plener,
the Minister of Finance at Vienna, viz. :
" Referring to the fact that one off he principal objects of
the establishment of the proposed Anglo-Austrian Bank, is
to fa3ilitate operations in Austrian Securities, and having
regard also to the desire of the Imperial Government to aid
as far as practicable in bringing about a closer union between
the financial and commercial interests of Austria and England
than at present exists, the Imperial Government intends (so
far as it should appear to itself compatible with the success
of their financial measures—and with any legal direction
which may be specially prescribed in reference to any parti-
cular operation) to give to the Bank the opportunity of under-
taking such financial operations - whether the issue of loans,
placing of bonds or otherwise ; as the Government may de-
sire to effect on the London market.

" the Government also intends to open an account-current
with the Bank."

There cannot be any question as to the profit able nature of
the field for the operations of a banking establishment in
Austria, conducted on sound principles.
There are few recent changes of more importance and in-
terest than the remarkable advance which Austria has made
during the last few years under the influence of its thoroughly
revised policy.
The harmony happily established between the Imperial
Government and the representatives of the different orders of
the State, as assembled in the Reichsrath, has removed most
of the impediments which formerly prevented Austria from
enjoying the benefits of its vast commercial and agricultural
resources. Supported by the free debates of the Parliament,
the Government has been enabled to enter with vigour upon
a fiscal policy founded upon tree-trade views ; and to apply,
in many directions, measures specially adapted to develope
the wealth and enterprise of the country. River steam navi-
gation has assumed large proportions. The extent of rail-
ways in operation has increased from 1,700 English miles in
1855 to nearly 4,000 in the present year; and the railway
system has been actually completed up to a point which
leaves few of the leading districts of the empire unsupplied.
Still more important has been the marked increase in the ac-
tivity of private trade and in the ma4nitude of individual
enterprise ; and that this altered state of things is solid and
real, is sufficiently attested by the great recovery of the Aus-
trian finances dnring the last two years. Under the measures
passed in if 62, the paper currency is in rapid process of re-
form—and since June of that year, the Exchange on Lon ,on
has improved from 140 to 110 in favour of Vienna. The rise
in the price of Austrian Government Stock, since the same
date, being equal, upon an average, to 22 per cent.
In the speech delivered by the Emperor, at the opening of
the Reichsrath, in June last (1863), he W.lB able to dwell pro-
minently on the improved aspect of affairs, and to state that
the finances of the empire have so rapidly improved during
the 'Parliamentary recess that the Government will not now
require the twelve millions of florins voted last year to cover
deliciences then anticipated.
Between 1851 and 1861 the export and import trade of
Austria may be said to have doubled; but even at its present
amount of. say, 50 millions sterling, it is still very far below
the capabilities of the 40 millions of Austrian subjects, who
inhabit provinces extending to an area of 240,000 square
miles, in the most fertile and diversified parts of Southern
Europe. _ _

Wlien it is proposed, therefore, to extend to Austria the
appliances of Banking, according to sound English princi-
ples, it is important to bear in mind that the new institution
is not carried to a field already full or offering few advan-
tages, but is applied precisely under those circumstances
in which the success of Banks has been most conspicuous—
viz., to a rich country, and an enterprising people entering
with every encouragement upon the development of their
skill and their resources.

In the statutes, as passed by the Imperial Government, the
capital is divided into Shares of £5O or 500 florins each ; but,
in consequence of representations made to the Directors, and
in order to render the Shares of the Bank more readily nego-
tiable in the principal money-markets of the Continent, the
Government has been solicited to authorise £2O as the de-
nomination of the Shares, and an assurance has been received
that such application will be granted.
To avoid delay in the establishment of the Bank, it has
been decided to issue the capital in Scrip Certificates of £2O
each, exchangeable hereafter (at a date to be announced. and
when £6 has been paid thereon) into Shares to bear as above
stated.
Under the revised Austrian Commercial Code, the payment
of £6 per £2O Scrip Certificate, equal to 30 per cent. of the
capital, will enable the Bank to commence business at once,
with the advantage of limited liability, and without further
demands upon its shareholders.
.__trTA7Cet,opy of the Concession and Statutes will be deposited at
the office of the Sol,citors to the Company, 46, Parliament-
rpepsiticniaitniosntesr.made in London for Scrip Certificates
should be addressed to the Directors in England at the Offices
of the
Company; but no appliocaftin will be considered, unless
accomni by the reeeintip ]Messrs. Glyn, Mills, and Co.
for the deposit of .C 2 per Bee Certificate on the number ap-
osit will be returned in the eventboi the application
plTiehdifsodrep
not being acceded to ; and, it an allotment
eti
rit
Certificate.
Forms applied towards the full deposit of £4 per Seerlalvdte'r Forms of Application maybe obtained and will
at the Offices of the Bank in Vienna ; and in London
Offices, 10, Birchin-lane, Lombard. street, E.C..
October, 1163.
FORM OF APPLICATION FOR SCRIP CERTIFICATES.
To the Dirt ctors in England of the Anglo-Austrian Bank.
Gentlemen,—Having paid to your credit, with Messrs.
Glyn, Mills, and Co., the sum of £ I hereby request
that you will allot me Scrip Certificates of £2O each
in the Anglo-Austrian Bank, and I hereby agree to accept
such Scrip Certificates, or any smaller number that may be
allotted to me, upon the terms of the Prospectus, and to pay
the further deposit of £2 per Scrip Certificate upon the num-
ber allotted to me, at such time and in such manner as you
may appoint.

I am, Gentlemen,
Name in full
Address in full
Occupation
Date