The Sun.
London, England, 1840-03-07 00:00:00

PUBLICATIONS.

STADE DUTIES CONSIDERED
By WILLIAM HUT T, Esq.
London : Ridgway, Piccadilly.

POST-OFFICE DIRECTORY, Price7s.6d.
This Work Corrected to the Present Month. Besides
the Post-office Arrangements for carrying into effect the Uni-
form Penny Postage, it contains a Copious DIRECTORY of
PARLIAMENT, giving the Town Address of each Peer and
Member during the Present Session. The more Important
Divisions of the Book, are the Alphabetical Commercial Direc-
tory, Law Directory, Conveyance Directory, Banking Direc-
tory, &c., &c.
An Edition including the CLASSIFICATION of TRADES
and City Directory, Half a Guinea.
The SUPPLEMENT containing the Past-office and Parlia-
mentary matter, of which Ten Thousand Copies were disposed
of in a week, is now reprinted, and may be had of Simpkin,
Marshall, and Co., and of all Booksellers, Price One Shilling.

NEW WORKS,
Printed for LONGMAN, ORME, and CO.

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—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, as far
as possible, the system which has proves 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 valve 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 front 10 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 Lonslen :
Original Share. Paid up. Present Price.
Bank of Australasia
Ditto (new Shares) 40.. . ..... 10 0 l7 10
Union Bank of Australia) 25 l7 10 24 10
(established in 1838)
Nor can the prosperity of Banking operations eonnected 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-np
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, " 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 ne dishonoured bill remaining on hand, nor
had the Solicitor of the Bank to commence a single snit for the
recovery of a debt due to it."
The Directors have for some time been mak'ng arrangements
for immediately carrying into effect the objects •f the Com-
pany; and in order to advance 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, net to entertain any
application unless made is the printed forms provided by them
for that purpose, and accompanied by a payment of 2t. 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 accepted.
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 more 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