The Sun.
London, England, 1840-03-21 00:00:00

The extraordinary progress which the Australasian Colonies
rave: made within the last few years, the continued flow of enii-
'it,r_ation towards them, together with the high value of money
"re; call for an increased number of establishments of this de-
scription, and the prosperous condition of the Banks already in
Peration is a sufficient guarantee that under prudent manage-
ment this Investment must prove a most profitable and secure
rm
e to the Shareholders as high rates of interest, are obtained
with
data P,,erfe.ct security in a' count.-y where from well ascertained
t.:pital is improving at rates varying from 50 to 75 per
cent, per
annum.
The following
Extract from the Official Share List of February
4th, 1
840 shows the present value of Stock in Two of the
Australasian Banks formed in London :
Original Share, Paid up. Present Price
Link, Or Australasia
Union (new Shares) 40............ 10 0 l7 10
wort Bank of Australial 25 l7 10 25 10
(established in 1838)
tCor can the prosperity of Banking operations connected with
a`,',ser Colonies bo better illustrated than by reference to the
!Ar's'actory Report of the Directors of the Union Bank of
inustralia, presented to the Proprietors at their General Meet-
t4,on the 3d of February, and by the follogring extract from
Rev. Henry Carmichael's Pamphlet on New South Wales,
jxeerein he observes—" There are at present in Sydney three
°il?t Stock Banking Companies in operation, with a paid-up
n`afPltal of about 80,0001. each ; which divide a profit annually
a-itfrt,'in 20 to 25 per cent. His Excellency Sir James Stirling
to the his recent work on Western Australia, says, in allusion
`lle Western Bank of Australia, " The second half-year left
l,pecar prefit over the expenditure of 14 and a half per cent.,
nl+l, after setting aside one-fifth as an accumulating fund,
dive9rding to an existing rule, enabled the Directors to declare a
dend of 11 and a half per cent. on the paid-up capital ;et
the
Close of the year no dishonoured bill remaining on hand, nor
ba,,
the Solicitor of the Bank to commence a single suit for the
~,2yery of a debt due to it."
he for Directors have for some time been making arrangeirmts
immediately carrying into effect the objects of the Com-
Pcll_9Y ; and in orders o advance the influence of the Bank in the
°lnies, they have reserved a portion of the shares for distri-
bution there.
rieiiks the principal part of the business must necessarily be car-
h..(l on in the Colonies, it has been thought inexpedient to
fo've a numerous Board of Directors in London it has there-
fore been determined that the number shall not at any time
i.eed ten; but to secure the prudent administration of the
now affairs
of the Bank, a complete system of superintendence is
w, being erganized by the Directors for the Establishments
11 the Colonies.
A en •
tliresu—cient capital has already been subscribed to enable te
Direct to commence business immediately. They havhe
therefore resolved, in order to avoid the inconvenience which
pal been found to arise in other undertakings from an unre-
stricted application of shares, and to induce only those to apply
Who wish to become bona fide proprietors, not to entertain any
application unless made in the printed forms provided by them
or that purpose, and accompanied by a payment of 21. upon
each share share applied for, the Directors reserving to themselves,
l
tueappropriation, time of the right to reject or comply with
"h application, either in whole or in part, the money to be
returned if the alication be rejected, and to be placed to the
credit of the par in respect of the shares allotted to him
if accepted,
tors, its For he guidance of those who
it may
is wish to become proprie-
may be mentioned, that not in contemplation to
411 up anore than 101. per share for the next twelve months.
t The Directors have postponed filling up the London Board
the full number of ten, in order to give them the opportunity
of selecting influential proprietors, whose assistance and co-
operation they may think it advisable to secure for the interests
of the concern ; power is reserved to them for that purpose,
and they are also authorized to complete all other arrangements
necessary for putting the Company into immediate operation.
Application for shares, in accoidanee with the printed form,
to be made to Messes- 80yd,4, New Bank Buildings, Lothbury,
London

WATCHES, by WEBSTER AND SON,
CHRONOMETER and WATCH MANUFAC-
TURERS. Reduction of 30 per Cent.
COMPENSATED DUPLEX WATCHES, upon the
principle of their Chronometers, to which were awarded the
respective Government prizes three years in succession. The
Compensated Duplex Watch is very small and flat, and un-
efqualled for accuracy of performance—even by the Pocket
Chronometer.
WEBSTER'S CENTRE SECONDS, for the Medical
Profession, elegant and novel in appearance.
Patent Detached Lever and small tilt Horizontal Watches.
Old Watches taken in Exchange.
WEBSTER and SONS, Chronometer Makers to the Lords
of the Admiralty. Established 130 years. 3, Birchin-lane,
Cornhill.

CLOAKS, PALLETOTS, WIT-
CHOURAS, VELVET SHAWLS, and MANTLES.
--One of the richest and most elegant variety of these luxurious
Lovelo_pes is now displayed (at !MERIN GTON'S, 154, NEW
v"D-S MEET. Carriage Travelling Cloaks of Silk
elvet, lined throughout and trimmed with Fur, Three Guineas
tad a Half each. Black and Fancy Silk Cloaks, for the Opera,
Promenade, and general Evening wear, 455. each.
ilks, Satins, and Silk Velvets, several thousand pieces of the
usual
richest Foreign and Spitalfields Silks, at one-third less than the
ditiaol Price' Some few pieces that are a little out of good con-
., ti from the dust caused by the alteration will be sold at less
than half price.
,_9. MERINGTON, 154, NEW BOND-STREET.