The Sun.
London, England, 1834-07-17 00:00:00

(No. 13,058.)

PROSPECTUS.-NAT:
LA:

ONAL BANK of IRE-

Capital 1,000,0001., in 20,000 Shares of 50/. each.
COMMITTEE :
John Brocklehurst, Esq., M.P. D. O'Connell, Esq., M.P.
William Henry Calvert, Esq. M. O'Connell, EA., M.P.
John Currie, Esq. C. O'Brien, Esq., M.P.
Geo. Evans, Esq., M.P. D. Roche, Esq.
J. R. Elmore, Esq. Robert Sutton, Esq.
C. S. Forster, Esq., M.P. J. R. Todd, Esq • M. P.
Fitz-Stephen Ffrench, Esq., M.P. Thomas Vigne, Esq
C. Fil Z. Simon, Esq., M.P. N. A. Vigors, Esq., M.P.
E. F. Green, Esq. Wm. Wilkinson, Esq.
James Grattan, Esq., M.P.
In founding the National Bank of Ireland, so as to deserve the
name of National Bank, two leading principles, entirely overlooked
in the Irish Provincial Bank, must be adopted, viz. :-
Ist. The power of extension, without increasing at head-
quarters the labour of management.
2d. To insure its success against competition by providing the
means of defence.
The plan of extension of the National Bank of Ireland includes
a system of self-management, and an union with a large body of local
proprietors where each branch is formed, upon a principle, which
will stimulate its exertion by increasing its direct interest in its
own success.
It is proposed that each branch shall hate a separate capital pro-
portioned to the extent of its business, one half to be subscribed by
resjdent shareholders, so as to identify their interest with their
ofn establishment, and the other half to be subscribed by the
National Bank of Ireland, whose connection with each branch,
whether its separate capital consists of 5,000/. or 50,0001. will
afford it the credit of whatever capital (however large) the National
Bank of Ireland may have actually paid up at the time.
It is proposed to commence this undertaking with a Capital
of One Million, which, as the branches extend, will be increased by
fresh issues of Shares, at a Premium, to new subscribers ; the
premium, on each extension of capital, to go to the original pro-
prietors. This premium will he calculated on the actual success of
the undertaking, and capitalists who may be disposed to set up a
rival bank, will be enabled by the constant enlargement of the
capital, to embark in the National Bank of Ireland without running
the race of competition.
The following are the terms and conditions of subscribing :
First. That a Company shall be formed in London, to extend
to Ireland the benefit of a sound banking system.
Second. That a Bank be formed in each town in Ireland, where
practicable by law, and which offers a prospect of success to the
operations of the Company.
Third. That the object of the London Company shall be to
connect itself with Shareholders exclusively interested in the suc-
cess of each local establishment.
Fourth. That the principle of the Bank shall be the division
of profits of each bank, with such local shareholders in Ireland. The
capital of each branch to be subscribed equally, by shareholders
on the spot and the Company in London.
Fifth. That the capital of the London Company shall be
1,000,0001. in shares of 50/. each, to be called the Original Capital,
which may be increased as the business of the Company extends :
but the premium, on any addition,to go to the first subscribers.
Sixth. That the Bank shall be formed as soon as half the
capital is subscribed.