The Sun.
London, England, 1863-10-31 00:00:00

DIRECTORS IN LONDON.
leopold Brusewitz, Esq., 3(1, Old Broad-street.
John Alers Hankey, Esq. (Messrs. Ilankey and Co.)
Samuel H. Hinde, Esq. (Messrs. Ilinde and Gladstone).
Johnson, Esq. (Messrs. John Johnson and Son).
Idward Johnston, Esq. (Messrs. E. Johnston, Son, and Co.)
Adam Kennard, Esq. (Consolidated Bank).
ZPilliam Tottie, Esq.. Swedish
and Norwegian Vice-Consul
(Messrs. Charles '4 ottie and Sons).
Chrndistoph?r Wegulin, Esq. (Messrs. J. Thomson, T. Bonar,
a Co.)

BANXERS.
The Bank of England,
The Consolidated blnk, Lombard-street.
SOLICITORS.
Messrs. Dawes and Sons, I), Angel-court, Tbrogmorton-street.
• BROKERS.
Messrs. Laurence, Son, and Pearce, Bartholomew-lane.
SECRETARY (PRO TEM.)
James Fraser, Esq.
Temporary ofnces__z,
Copthall-buildings, Throgmorton-
st: eet.

OSPECTUS.
The aject of this Bak is to s upply the great requirement
i f additional Banking accommodation in Sweden, and to
alf Id a medium for the alrea
in dy impprtaft&u,d staaepeasing financial transactions between A t at"counQtalatry and
England, as well as for the large Banking operations which
the trade of Sweden with the East and West Indies, America,
and the Brazils centres in Loudon.
The trade and industry of Sweden have made rapid pro-
gress during the last thirty.years, but more particular :y dur-
ing the last ten years. The value of imports and exports,
'which amounted in 1852 only to £4,725,0,u, rose in 1801* to
£10,425,221, showing in increase in the nine years of about
126 per cent.
England participated in thl4 import and export in 1852
to the extent of £1,214,777, and in 1161 to the extent of
£3,276,332.
TAmericahe trad
amounted in 1651, e with the East and West Indies, Brazils, and
.£,,319 to £84,833, against, in 1861,
i5l .
The amount of -Bills of Exchange sold through Brokers on
the
1851 to—
Exchange of Stockholm and Gothenburg, amounted in
and in 1862 to
£1,260,306 Banco In 21,013,122 fr,3,752,871

£3,2_________73,7_9o Banco m 44,688,541 fr. 15,458,431

snowing an in-
crease in. the 10
years of . ..... X 2,001,184 Banco m 23,675,029 fr. 11,705,553
r'ormerly Sweden had to import large quantities of corn,
but improvements in the system of farming, and an extended
cultivati,,n of land, leave now annually large quantities for
exportation. The total export of all kinds of grain in 1852
only amounted to 132,125 quarters, but rose in 1861 to 1,028,436
quarters, showing an increase in the nine years of about 9; 5
per (cut.
Great as this progress in all branches of the industry of
Sweden has been, the prospects for the future are still more
promising, for an extensive and judicious system of railways
in a,l directions of the country is gradually removing the
difficulties and reducing the cost of ransport, which have
hitherto proved great obstacies to the production of the bulky
articles forming t e 'taples of Sweden, and the system of
free trade which the country has adopted cannot fail to assi,t
Mate, ially in th 3 development of its great resources, and in
extending its commerce.
The banking- facilities and circulation of the country have
But kept pace with the pr, gTess of its trade.
In trs2 there were in ,Sweden a State Bank, with
a Paid-up capital of
And eight Joint-Stock Banks, with an aggreg £1,063,333
Paid-up capital of ate

283,649

351,979
Against present capital of the State Bank ........
£1,£1,333,333,
And of twenty-nine Joint Stock Banks now existing 666,63ei

The total circulation of notes amounted at the end-C.2'0°,000
of 11%2, to ....
The
e total circulation of notes amounted at the eud
of 186 to
3,469,109
Theme figures sbiow that while the foreign trade of the
9ountry has increased by 126 per cent. in two ears, there has
been an increase in ten years ot banking capiytal only to the
extent of about 50 per cent., and in the circulating medium
of only 24
.per cent.
The business of the State Bank and of all the Joint-Stock
Banks, with one exception, consists princ.pally in granting
ans and credit against securities of different kinds and per-
sona.'i gua: antees, and they have done little to encourage de-
per, is or discounts of bills.
The Stockholm Enskilda Bank is the exception, This
Bank was established towards the end of 1856, with a paid-
-up capital of about .C 56,000, and it deserves special mention
for its skilful management, which has particularly aimed at
encouraging deposits, and at discounting Inland Bills of
Exchange. The results of its operations have been very
rsuccessfue At the end of 1862 it had a reserve fund of
444,431, having paid dividends of 20 per cent. for 1862 as well
as for 1861. The di posits with this Bank amounted at the
end of 1862 to £552,750.
The profits of all the other Banks have been highly re-
munerativ,.
The old habits of people keeping their money under their
own care, and of making payments with cash, instead of
using cheques, still very generally prevails, and owing to the
few channels for discount of inland Bills, credit sales mostly
become only book debts instead of being represented by
buyers' acceptances ; the result is. that while meroant le re-
quirements arc always costly and often nearly impossible to
procure at almost any rate, even upon the very best securi-
ties, so that Merchants have frequently no other alternative
left for the supply of their requirements than the use of ex-
pensive foreign credits.
Ali circumstances warrant the conviction that Sweden
offers an extensive and very profitable field of operations
for a New Bank, and at the same time that such a Bank must
Confer great benefits on the trade and commerce of the
country.
This conviction has led to the establishment of the English
and Swedish Bank.
The head establishment of this Bank will be in London,
'With branches at Stockholm, Gothenburg, and such other
Places in Sweden and Norway as may be found de.irable by
the Directors; and with Agencies at Paris, Hamburg, Am-
sterdam, and other plac s abroad.
All b anches are to be under the control of the heal estab-
lishment in England. superintended by a local Board. Ma-
nagers having experience of English Banking wi,l be ap-
pointed, in order to introduce the advantages of that system
into Swe.,en.
The business of the Bank will include :
The opening 01 current accounts.
The receipt ot moneys on deposit at interest.
The purchase and sale ot British and foreign securities.
The granting and negotiation of loans.
The purchase and sale of bills of exchange.
The discount of bills of exchange.
The graining of letters of credit and circular notes.
The purchase and sale of bullion, and generally the tran-
saction of all business relating to banking and finance.
Copies ot the Memorandum and articoes of Association lie
for inspection at the Office of the Solicitor s, essi s. Dawes
A Sons,l and at tile Temporary Offices of the Company.
accompanied rApplication for :.:•har,s must be made in the annexed form,
tby a deposit of per Share.
Nrpec uses and forms 01 application for Shares may be
obtained at the Temporary Offices of the Bank ;
London Financial
street ; and the Br Association (Limited', 1, threadneedle-
and the
Stockholm. and Messrs. Tottie and Arfwedson,
also receive application': an(rdsepaonscitsCioOr' SGhoartheesnbfourrgirawnisl-1
Mission to England.

This Form must be delivered entire to the Bankers of the
Company, and, after payment of Deposit, the application to
be retained by them.
FORM OF APPLICATION FOR SHARES.
No.
To the Directors of the English and Swedish Bank (Limited).
Gentlemen,—Having paid to your Bankers, Messrs.
the sum of £ , being a deposit of £1 per Share on
Shares in the above Company, I hereby request
that you will al ot me that number that I agree to accept
such Shares, or any smaller number may be allotted to
me ; and to execute the Articles of Association when re-
(lnked, and to my name being placed on the Register of
Shareholders for the Shares so allotted.
Name in full
Residence
Profession or Business
Date

' Where the year 1861 Is referred to instead of 1862, the
returns for the latter year have not been obtainable.

PECTACLES.—The Patent Newly-invented
Tinted Spectacles are patronised by the majority of the
Nobility, including Viscount Palmerston. They afford extra-
ordinary reiief to weak, dim' and detective vision.-3. and B
SOLOMON S, Opticians, 39, Albemarle-street, Piccadilly.