The Sun.
London, England, 1840-03-13 00:00:00

BANK OF ASI A.
Capital £2,000,000, in Shares of £lOO each,
(With a reserved power of augmentation).
CHAIRMAN-The Right Hon. Sir GORE OUSELEY, Bart.
DEPUTY CHAIRMAN—WM. JARDINE, Esq.
DIRECTORS.
Thomas H. Brooking, Esq. A. E. 11I‘Donnell, Esq., late
Chas. Buller, jun., Esq., M.P. Madras Civil Service
Sir John Campbell, K.C. H., C. F. Middleton, F.sq., late
K. L. S., Madras Service Bengal Civil Service
John Chapman, Esq. Jacob Montefiore, Esq.
James Cockburn, Esq. George Money, Esq.
James Buller East, Esq., M.P. William Newnham, Esq., late
Charles Elliot, Esq., late Ben- Bombay Civil Service
gal Civil Service Chas. Norris Esq., late Bom-
Aaron Asher Goldsmid, Esq. bay Civil Service
Thomas Goldsworthy, Esq. Samuel Prior, Esq.
Colonel Sir Frederick Hankey, Col. H. D. Robertson, Bombay
G. C. M. G. Service _ _ _

Joseo Hoare, Esq.
C. E. Layard, Esq., late Cey-
lon Civil Service

'Major-General G. A. Taylor,
C. 8., Madras Service
Thomas Weeding, Esq.
!ORS.

AUDI'

George Gowan, Esq., late
Madras Civil Service.
J. B. Montefiore, Esq.
BANKERS—Messrs. Barnett; Hoares, and Co. ; Messrs.
Smith, Payne, and CO.
STANDING COUNSEL—Francis H. Goldsmid, Esq.
Somerroits—Messrs. Crowder and Maynard ; David Row-
lan, Esq.
This Company has been formed for the purpose of establish-
ing a Bank for the British possessions of India, and for other
parts of Asia, where, after mature deliberation and attention,
the Directors feel satisfied that Capital can be securely and be-
neficially employed in carrying on the business of banking.
Application has been made to Government for a Royal
Charter of Incorporation, limiting the responsibility of the
Shareholders.
The capital of the Company is divided into 20,000 shares, a
portion of which will be reserved for allotments in India.
The general management of the Bank will be vested in a
C ourt of Directors resident in London ; and the branches in
India will be conducted by local boards of managers, under ap-
pointment from the Directors in London.
A General Meeting of the Proprietors will be held annually
in London, at which a full Report of the Company's affairs will
be submitted.
A deposit of 51. per share to be paid on the allotment of the
shares ; the futnre calls will be determined after the charter
shall be obtained.
Application for shares to be addressed to the Secretary, at
the temporary offices of the Company, 6IIA, Moorgate-street.
ROBERT MONTGOMERY MARTIN, Secretary.

Thomas Chapman, Esq.
James Dowie, Esq.

OYAL BANK
Capital, 1,000,600, in
Deposit 51.

OF AUSTRALIA.
20,000 Shares of 60/. each.
per Share.
:TORS.

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

I Alexander Cockburn, En.
William P. Craufurd, En.
John Connell, Esq.
IJohn Mitchell, En.

STANDING COUNSEL.
Peter Laurie, Esq.

SOLICITORS.
Messrs. 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—Ayrshire Banking Company.
The object of the Company is for the transaction of all
Ranking 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 valua 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 t. 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 Lofldon :
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
capitil of abiut 80,0001. each ; which divide a profit nnually
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 ieft
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 Director s have for some time been male:lg arrangements
for immediately carrying into effect the objects of 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, not to entertain any
application unless made in the printed forms provided by them
for that purpose, and accompanied by a payment of 2/. 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-
operatio,n they may think it advisable to secure for the interests
of the coneetm ; power is reserved to them for that purpose,
epr
and they are also authorized to complete all other arrangements
netA.epsspalricyaftoiornpuftotrinsghatrhees,Cinomacpcoanrydainntco immediate operation.
shares,
form,
ewith th
to be made to Alessrs. Boyd, 4, New Bank Buildings, Lothbury,
London