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

ROYAL BANK OF AUSTRALIA
Capital, 1,000,000, in 20,000 Shar©s of 50/. each.

Deposit 51. per Share.
DIRECTORS.

Benjamin Boyd, Esq.
Thomas Meux, Esq.
George Webster, Esq.
John W. Sutherland, Esq.

(Alexander Cockburn, Esq.
William P. Craufurd, Esq.
John Connell, Esq.
John Mitchell, Esq.

STANDING COUNSEL.
Peter Laurie, Esq.
SOLICITORS.
Mossrs. Parken and Webster, 13, New Boswell Court.
Messrs. Johnston and Farquhar, 32, New Broad-street.
BANKERS.
Union Bank of London,
Moorgate-street, 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—Avrshire 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, as far
as possible, the system which has proved so successful in Scot-
land.

The extraordinary progress 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-
scription, and the prosperous condition of the Banks already in
operation is a sufficient guarantee that under prudent manage-
ment this 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, 1840, shows the present value of Stock in Two of the
Australasian Banks formed in Lo-don :
Original Share. Paid up. Present Price.
Bank of Australasia .........£4O £4O 0 £57 10
Ditto (new Shares) 40.... ... 10 0 l7 10
Union Bank of Australia}
25 l7 10 25 10
(established in 1838)
Nor can the prosperity of Banking operations connected with
those Colonies be better illustrated than by reference to the
satisfactory Report of the Directors of the Union Bank of
Australia, presented to the Proprietors at their General Meet-
ing, on the 3d of February, and by the following extract from
the Rev. Henry Carmichael's Pamphlet on New South Wales,
wherein he observes--" There are at present in Sydney three
Joint Stock Banking Companies in operation, with a paid-up
capital of abut 80,0001. each ; which divide a profit annually
of from 20 to 25 per cent. His Excellency Sir James Stirling
also, in his recent work on Western Australia, says, in allusion
to the Western Bank of Australia, 6' The second half-year left
a clear profit over the expenditure of 14 and a half per cent.,
which, after setting aside one-fifth as an accumulating fund,
according to an existing rule, enabled the Directors to declare a
dividend of 11 and a half per cent. on the paid-up capital ;at
the close of the year no dishonoured bill remaining on hand, nor
had the Solicitor of the Bank to commence a single suit for the
recovery of a debt due to it."
The Directors have for some time been making arrangements
for immediately carrying into effect the objects of the Com-
pany; and in order to advanee the influence of the Bank in the
Colonies, they have reserved a portion of the shares for distri-
bution there.

As the principal part of the business must necessarily be car-
ried on in the Colonies, it has been thought inexpedient to
have a numerous Board of Directors in London : it has there-
fore been determined that the number shall not at any time
exceed ten ; but to secure the prudent administration of the
affairs of the Bank, a complete system of superintendence is
now being organized by the Directors for the Establishments
in the Colonies.
A sufficient capital has already been subscribed to enable the
Directors to commence business immediately. They have
therefore resolved, in order to avoid the inconvenience which
has 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
for that purpose, and accompanied by a payment of 21. upon
each share applied for, the Directors reserving to themselves,
at the time of appropriation, the right to reject or comply with
such application, either in whole or in part, the money to be
returned if the application be rejected, and to be placed to the
credit of the party in respect of the shares allotted to him
if acoepted.
For the guidance of those who may wish to become proprie-
tors, it may be mentioned, that it is not in contemplation to
call up snore than 101. per share for the next twelve months.
The Directors have postponed filling up the London Board
to 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 accordance with the printed form,
to be made to Messrs. Boyd, 4, New Bank Buildings, Lothbury,
London

CURIOUS CoMM UNITY OF MONKS. TWpert painters painters of Paris, Messrs. Didron and Durand, while tra-
velling in the east to explore and delineate its Christian antiqui-
ties, have communicated an account of their visit to Mount
Athos, regarded by the Greeks as a " holy land," and form-
ing the site of a monkish republic which has no parallel in any
other part of the world. This singular region includes 20 mo-
nasteries, all spaciously built and strongly fortified, encompassed
by 10 villages, 240 cells or farmhouses, and 160 hermitages ; the
whole people with a fraternity of friars amounting to 6,000 in
number, and conferring its character of sanctity upon the
mountain they inhabit.