The Sun.
London, England, 1856-01-31 00:00:00

WESTERN BANK of LONDON.
To be Incorporated by Itopl Charter,
Under the Act of 7 and 8 Vic., Cap. 113.
Capital, 400,0001.
(With power to increase to Ono Million.)
In 4,000 Shares of 1001. each. Deposit 10/. per Share, pay-
able upon Allotment.
BOARD OF DIRECTORS.
The Right lion. Sir HENRY LYTTON BULWER,
28, Charles-street, Berkeley-square, Chairman.
sie Frederick Smith, K. 11., 9, Hyde-park-square.
John Arthur Roebuck, Esq., M.P., 19, Ashley-place, West-
minster.
Captain Leicester V. Vernon, M.P., Ardington House, Wan-
tage, Berks.
Major-General M. E. Bagnold, 14, Upper Hamilton-terrace.
Edmund Burke, Esq. (Messrs. Russell and Co.), 69, Upper
Thames-street, and Wednesbury, Staffordshire.
John Hoptou Russell Chichester, Esq., 49, Wimpolu-street.
Henry Charles Chilton, Esq., 16, Bedford-square.
John Gregory, Esq. (Messrs. White and Co.), 6, Haymarket,
and 7, Harley-place.
Thomas Norton, Esq., 23, Abingdon-street, Westminster.
Colonel Rowland, Royal Artillery, Woolwich.
William Simpson, Esq., Bradmore House, Hammersmith.
With power to add to their number.
BANKERS.
Bank of London, Threadneelle-street and Charing-cross.
Commercial Bank of Scotland, Edinburgh.
SOLICITORS.
Messrs. Ry.iter, A. Murray, and Rymer, Whitehall.
Messrs. Hope, Oliphant, and Mackay, Writers to the Signet,
Edinburgh.
BROKERS- -Messrs Joshua Hutchinson and Son, 39, Lothbury.
TEMPORARY OFFICE— No. 4, Whitehall.
PROSPECTUS.
The sound principles upon which the system of Joint-Stock
Banking is based, and the benefits which its practical appli-
cation have conferred upon the public, aro now universally
admitted. Banking Companies, with large subscribed an.l
paid-capitals, and protected by the responsibility of nume-
rous porters, have been long in profitable operation iu every
part of the kingdom. In the City of London there are six
Joint Stock Banks ; and so great is the confidence of the
public iu the soundness of those establishments that their
Deposits amount to more than Thirty Millions sterling. The
market value of their Shares ranges from 55 to upwards of
200 per cent, premium upon the amount paid; and is founded
upon the iarge dividends they have declared, which, at pre-
sent (in addition to very ample reserve funds), average up-
wards of 15 per cent, per annum, inclusive of bonuses.
It is a remarkable fact that, with the experience of the
solidity and usefulness of these institutions, no Independent
Joint-Stock Bank exists in the Western part of the Metropo-
lis, notwithstanding the increased demand for banking ac-
commodation and the rapid growth of the population. Tho
Branches of the City Banks are, no doubt, important auxili-
aries; but, being controlled by instructions from the parent
office, their Managers necessarily exercise alimitecl discretion.
The " Western Bank of London" will afford to the West of
the Metropolis all the benefits which are derived by parties
who transact their banking business directly with au indepen-
dent institution. It will have at the West-end its Board of Di-
rectors, its discount and other Committees, who will adapt
their system of management to the wants of the various
classes of its customers. It will open current accounts; re-
ceive deposits at agreed-upon rates of interest ; discount
bills ; make advances upon approved securities; undertake
at moderate charges the agency of persons resident abroad ;
receive dividends upon stocks, public or private ; collect and
transmit pays, pensions, and annuities ; and generally carry
on all the legitimate operations of banking.
The financial position of Joint Stock Banks (unlike 'hat of
private partnerships) i , published at the yearly and half-
yearly meetings of their Proprietors, when a balance-sheet,
verified by two auditors appointed by that body, is submitted
to the scrutiny, not only of the Proprietors, but of the public..
The Shares in the London Joint Stock Banks (including
those recently incorporated) are almost the only description
of security which has undergone no depreciation during the
war ; they have, on the contrary, steadily advanced in value.
The subjoined table, extracted from public documents,
furnishes unequivocal evidence of the advantages which ori-
ginal Proprietors may secure by the investment of capital
Joint Stock Banks.

Capi I

„esl

t

Sub-
'scribed.

PAid-up.

I 5,C 00,000

t,e00,000l

3,000,000
3,090,000
1,500,000