The Sun.
London, England, 1870-05-16 00:00:00

DIRECTOR-GENERAL AT BUCHAREST.

Adolphus De Herz, Esq. 11
Terms of Subscription : For each Share of £2O, with £8
paid thereon, the sum of £9los. (being £1 10s. premium),
such sum to be payable one month after allotment.
Share Certificates to bearer will be issued to the Allottees,
in exchange for their allotment letters and the bankers'
receipts for £9los. per share allotted.
The shares now offered are entitled to dividend in respect

of profits made from Ist January, 1870.
The Bank of Roumania, originally established by virtue
of 'a concession from the Roumanian Government, com-
menced operations in March, 1866, and has carried on
business continuously since that period. By arrangement
with the Roumanian Government that concession was an-
nulled, and the Bank reconstituted in 1869, under statutes
approved by the Government.
The Bank is in perfect working order, carrying on an
important and lucrative business, as will be seen by the
subjoined statement of the profit for the three past years,
viz..—

Net profits, 1867...
9t 1868
77
7/ 1869
97
These results have been obtained after providing for all
preliminary expenses. Out of the above net profits a sum
of £20,000 has been paid for the good-will of the branches
and agencies of the Imperial Ottoman Bank in Roumania,
which were taken over by this Bank, and it is to be re-
marked that the profits have arisen from the active em-
ployment of a sum far inferior to the actual paid-up
capital. Pending the discussions with the Roumanian
Government as to the re-constitution of the Bank, the
directors deemed it wise to limit the use of capital to
about one-half (2200,000) of that paid up, the remainder
being held in reserve in England, and bearing interest at
the rate of 6 per cent. The arrangements with the Govern-
ment having now been definitively settled, the whole of
the paid-up capital can be employed, and it may be fairly
assumed that the profits will be proportionate to those
which have been realised on the smaller sum. _

.•
The annexed balance-sheet for the year ending 31st De-
cember, 1869, shows the state of the assets and liabilities
of the bank at that date. In making it up every doubt-
ful debt was carefully eliminated, and by far the largest
proportion of the assets has, since the said period, been
realised in regular course. The balance of profit and loss,
as well as the reserve fund, shown on that account will
belong to the !present shareholders. The shares now of-
fered will, however, be entitled to the profits arising from
the business transacted by the Bank of Roumania from Ist
January, 1870.
In the allotment a preference will be given to holders of
shares in the Imperial Ottoman Bank.
Letters of application in the annexed form must be ad-
dressed to the Imperial Ottoman Bank ; but no applica-
tion will be entertained unless a previous deposit of £2
per share applied for has been made with Messrs. Glyn,
Mills, Currie, and Co.
A copy of the statutes of the Bank of Roumania can be
inspected at the offices of its London agency, 13, King's
Arms-yard, E.C.
If no allotment is made the deposit will be returned to
the applicant without deduction. In cases of allotment
the deposit money will be applied in whole or part, as the
case may be, to the payment of the subscription price of
£9 10s. per share.
If the sum necessary, with the deposit, to make up
£9 10s. per share allotted, is not paid at the date specified
(viz., one month after allotment), the allotment may be
cancelled, and the deposit paid on application will be liable
to forfeiture.

Imperial Ottoman Bank, London Agency.
4, New Bank-buildings, E.C., May, 1870.

. _
BALANCE-SHEET OF THE BANS OF ROUMANIA, DECEMBER
Dr. 31, 1869.
Capital paid up £400,000 0 0
Bills payable
Deposits for fixed terms
Current Accounts
Reserve 5,830 3 8
Profit and Loss

£807,820 2 3

Cr.
Cash on Deposit 2200,000 0 0
Cash in hand
Bills in Portfolio
Investments and Advances
Current Accounts
Bank Premises and Furniture

£807,820 2 3
Correct. DE HERZ, Director-General.
FORM OF APPLICATION.
(To be retained by Messrs. Glyn, Mills, Currie, and Co.)
No.
To the Imperial Ottoman Bank.
Gentlemen,—Having paid to Messrs. Glyn, Mills,
Currie, and Co., the sum of £ , being £2 per share
on shares, I request you to allot me, upon the
terms of the prospectus issued by you, shares
of £2O each in the Bank of Roumania, and I hereby agree
to become a member of that society, and to accept such
shares, or any less number that may be allotted to me,
and I agree to pay, within one month after allotment,
such further sum as, with the deposit paid, will make
£9los. in respect of each share allotted to me. —I am gen-
tlemen, your obedient servant.
Name in full
Address in full
Reference
Date
If the applicant is a shareholder in the Imperial Otto-
man Bank, he will here state the number of shares which
he holds.