The Sun.
London, England, 1840-03-17 00:00:00

COLONEL 'FORRENS ON BANKING AND PAPER

CURRENCY.
In the press, and immediately will be published, price 3s.
A LETTER to THOMAS TOOKE, Esq.,
-4-1 in reply to his objections to the Separation of the Busi-
sass of the Bank of England into a Department of Issue, and a
Department of Deposit and Discount.
By R. TORRENS, Esq., F.R.S.
Longman, Orme, Brown, and Green.

Just published, price Is.
R. HUSKISSON ; FREE TRADE ;
and the CORN-LAWS: Showing that the Minister
:discerned the injurious nature of his polio; renounced the
Frei-trvde principle ; and supported the Corn-laws.
By WILLIAM ATKINSON.
• Also, by the Same Author,
The STATE of the SCIENCE of POLITICAL ECO-
NOMY. Price 2s.
Pelham Richardson, 23, Cernhill.
_

ROYAL BANK OF AUSTRALIA.
Capital, 1,000,600, in 20,00 Shares of 50/. each.
. Deposit Si. per Share.
DIRECTOILS.
Tloniacain Boyd, Esq. Alexander Cockburn, Esq.
Thotras Meux, Esck. William P. Craufurd, Esq.
Georze Webt ter, LEAL. John Connell, Esq.
John W. Sutherland, Esq. John. Mitchell, E.
STANDING COUNSEL.
Peter Laurie, Esq.

S•LICITORS.
- Messrs. Parken anti Webster, 13, New Boswell Court.
:Messrs. Johnston and Farquhar, 32, New Broad-street.
BA N K E RS.
Union Bank of London,
Mciergate-sireet, Lothbury ; and Argyle-place, Regent-street.
Edinburgh—National Bank of Scotland.
Leith—Edinburgh and Leith Bank.
Glasgow—Western Bank of Scotland.
Greenock—Greenock Bank.
Aberdeen—Town and County Bank.
Arbroath—Arbroath Banking Company.
Dumfries—Southern Bank of Scotland.
Ayr—Ayrshire Banking Company.
The object of the Company is for the transaction of all
Banking business at SYDNEY, LAUNCESTON, ADE-
LAIDE, PORT PHILIP, and such other places as the Di
rectors may deem advisable ; and it is intended to apply, at far
as possible, the system which has proved so successful in Scot-
land.
The extraordinary pro:ress which the Australasian Colonies
have made within the last few years, the continued flow of emi-
gration towards them, together with the high value of money
there, call for an increased number of establishments of this de-
stripti,,n, and the prosperous condition of the Banks already ie
operation is a suffieient guarantee that under prudent manage-
ment t:iis Investment must prove a most profitable and secure
one to the Shareholders, as high rates of interest are obtained
with perfect security in a country where, from well ascertained
data, Capital is improving at rates varying from 50 to 75 per
cent. per annum.
The following Extract from the Official Share List of February
4th, 11.440, shows the present value of Stock in Two of the
Aeseralasian Banks formed in Lordon :
Original Share. Paid up. Present Price
Rank of Australasia
Ditto (new Shares) 40............ 10 0 l7 10
Union Bank of Australia l 25
17 10 25 10
(established in 1e33)
Nor ceo the prosperity of Banking operations connected with
those Cclonies be better illustrated then by reference to the
satisfactory :depart of the Directors of the Union Bank of
Austral::,, presented to the Proprietors at their General Meet-
gas tee 3d of February, and by the following extract from
the Rev. Henry Carmichael's Pamphlet on New South Wales,
eeoerein he observes—" There are at present in Sydney three
Stock Banking Companies in operation, with a paid-op
capital of absut 80,000/. each ; which divide a profit ;•nnually
of from tea to 25 per cent. His Excellency Sir James Stirling
*lea, in his recent work on Western Australia, says, in allusion
to Or Western Bank of Australia, " The second half-year left
a emir preit over the expenieture of 14 and a half per rent.,
sth,ch, after setting aside one-fifth as an accumulating fund,
aceording t• an existing rule, enabled the Directors to declare a
dlYelend of 11 and a half per cent. on the paid-up capital ;at
the eloie of the year no dishonoured bill remaining on hand, nor
had. the Solicitor of the Bank to commence a single suit forehe
recoriere of a debt due to it."
The birectors have for sonic time been making arrangements
for immediately carrying into effect the objects of the Corn-
Peery ; and in order to advance the influence of the Bank in the
Colquies, they have reserved a portion of the shares for distri-
leftpon there.
Ae,the principal part of the business must necessarily be ear-
ned on in the Colonies, it has been thought inexpedient to
ha: e a numerous Board of Directors in London : it has there-
fhee been determined that the number shall not at any time
es:-red ten; b.it to secure the prudent administration *of the
aßaiesif ihe Bank, a complete system of superintendence is
beees organized by the Directors for the Establishments
in the etilonicis.
A sriticient capital he.s already been subscribed to enable the
Directors to commence business immediately. They have
Aiereforr resolved, in order to avoid the inconvenience which
has been found to arise in otherana
undertakings from an unre-
stricted application of share,to induce only those to apply
who wish to becorno bona fide proprietors, not to entertain any
' epplieetion unless made ieno,,lt,l,%ni
printed
blv a
payment of eti. upontec forma provided by them
bet
for that purpose, and ae
each share applied for, the Directors reserving to themselves,
3
4 at the time of appropriation, the right to re'ectcomply
snob application, either in whole or in part, money to
returned if the application be rejected, and to be placed
with
the
eredit of the party in respect of the shires allotted to him
ii accepted.
Fcr the guidance of those who may wish to become proprie-
'lGrs, it may he mentioned, that it is not in contemplation to
ep more than 101. per share for the next twelve months.
The Dire4eors have postponed filling up the London Board
!n the full rAmber 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 accordance with the printed form,
to be made to Messrs. Boyd, 4, New Bank Buildings, Lothburv,y
London