The Sun.
London, England, 1839-07-03 00:00:00

COMMERCIAL BANK OF LONDON.
CAPITAL, TWO MILLIONS,
In Two Thousand Shares of 1,0001. each.
Fills- per Cent. to be paid up by instalments, and a reserved
power of enlarging the Capital if required.
' DIRECTORS.

Edward Baines, Esq., M.P. G. B Matthew, Esq., M.P.
Edward Cayley, Esq., M. P. Edward Oxenford, Esq.
Sir Ja tries Gambier. John Ramsbottom, Esq., M.l'.
Thos. tGrimsditch, Esq., M.P. George Rennie, Jun., Esq.
Mark Gambier, Esq. John Shewell, Esq.
John Harvey, Esq. John Taylor, Esq.
Thos. Hawkes, Esq., M.P. A. J. Valpv, Esq.
Arch, it Todd Holroyd, Esq. 8.. B. Williams, Esq.
Jonas Ilan Hopkinson, Esq. Thomas Wyse, Esq., M.P.
Souciaoa.—Samuel Amory, Esq.
It . is unnecessary to advance arguments as to the expediency
of r tst ablishing this great National Bank. Existing circurn-
Oa' aces will suggest the strongest. The object is to unite all
th'it is sound in the system of Joint-stock Banking, with all
that is respectable in the system of private Banking, and at
the same time to avoid the errors and evils of both.
• r Shares of One 1 housand Pounds each, with 5001 to be paid
tip , will prevent an admixture of speculative adventures with
of nlent capitalists. The Joint-stock system of Banking to be
at eind as a whole should be sound in each of its parts.
--The Royal Bank of Liverpool hasbeen formed upon the same
'principle—in the brief period of three years its shares have art
ved at a premium ofabout 50pereent. London must be a better
field for such a system than Liverpool. The Commercial Bank
of London is capable of being the great focus of the Joint-stock
-Banks of the whole kingdom.
The Commercial Bank of London combines these important
advantages—viz., a large capital, permanent responsibility, and
uniformity in the system of management ; thus securing that
acknowledged desideratum, a guarantee that the capital of the
.Bank shall not he withdrawn, nor its efficient action impaired
by the death or retirement of co-partners.
The Commercial Bank of London has been founded as a
Bank of Deposit for making advances by loan or otherwise, and
yore especially as a point of concentration for such Provincial
Joint-stock and
other country Banks as conduct their business
on sound tanking principles.
Three Managers will be
to appointed.e The qualification of each
b a
of Le long Previous experience in the banking or discounting
riv 'n'ion, by which the knowledge, decision, and secrecy of a
oAte hank will be added to the superior solidity of a sound
Jo' Itt-stock system.
interest on deposits will he allowed on special agreement
°5;117, no Bank not having the advantage of is3uing'its own paper
can be expected to grant interest on floating deposits or on
current accounts ; but while recognising security as the legiti-
mate basis of every banking transaction, the Directors will be
desirous at all times, but especially in periods of financial pres-
sure, to meet the just demands of every class of society, com-
mercial, manufacturing, and agricultural.
Ten per cent. will be required to be paid on the allotment of
the Shares, and such further calls made as may be necessary,
by instalments not exceeding 10 per cent., of which three
months' notice will be given by public advertisement, but not
more than 50 per cent. of the subscribed capital will be called
for without the concurrence of three-fourths in value of the
Proprietors at a General Meeting to be held for that purpose.
In order to limit the responsibility of the Subscribers, it is
;intended to provide by the deed of settlement, that in the event
of one-third of the paid up capital being lost, it shall be com-
pulsory on the Board of Directors to convene a meeting of the
Proprietors, and with the concurrence of a majority in value,
o dissolve the Company.
It is intended to establish a Branch at the West-end of the
Metropolis, but at no other place.
A General Sleeting of the Proprietors will be held annually,
when a statement of the affairs of the Bank will be laid before
them.
Applications for Prospectuses, or for Shares, to be made to
the
Solicitor, at 25, Throganorton-street; Messrs. Smith and
Kinnear, George-street, Edinburgh ; to Mr. Buchanan and
Aitk in, Glasgow
; Messrs. Blandshard and Richardson, York ;
errs' and G. Ridsdale, and R. B. Watson and Co.,
eds
; William Islam, Esq., Solicitor, Liverpool • the Royal
Bank' of Liverpool; and to Messrs. Percival, Union Bank,
Northampton.
Applications from the country to be post paid, and to be ac-
companied by a reference to some party in London.