The Liverpool Standard and General Commercial Advertiser.
Liverpool, Merseyside, England, 1836-04-29 00:00:00

UNITED BANKING COMPANY

OF
AUSTRALIA AND VAN DIEMEN'S LAND.
CAPITAL, £600m00.. of
g soliciting the, attention of the Public to the formation
ir
a Bank, under the above Title, whose operations wilt be CO":
fined exclUsively to the Colonies in which its Branches will (c;
established, it is. deemed superfluous to discuss the superiorit,f
of Joint Stock Companies over all others for the purpeses,,S y
Banking; the seal of Public approbation having been too fir'''
affixed to the system to require further illustration.
The necessity for such an Establishment as the present, , 311,
the probable advantages to those who embark in it, are no '
sole objects for consideration.
The increase of Population, Commerce, and W.ealth 0f - t
History. e
at
t 1
Colonies is great and rapid, beyond all
. prece Colo"
Wool, of the finest quality, is produce oan extent eb
very few }rears ago, would have been d wed incredible. the
'1 he Whale Fishery increases with e rally rapid strides; de
Part of Sydney ,
alone euiploying Forty Vessels in this niotra
many of them bringing cargoes of. from £lO,OOO to I.:lsrw'-- I
value.
Land, of excellent quality, is abundant and cheap, and
the
Climate most salubrious. srY
Farming in all-its branches is conducted with. extraordi nly,
advantage to those engaged in it ; and Beef, of the first euel'ite
has already been exported in large quantities to India'
Mauritius, and,other places in the Indian Seas. . are
That additional Capital and Banking accommodation ,be
wanted is very obvious, from the large Dividends paid b):o`ce
Banks already established, which, for the last half year, the
been at the rate of from 20 to 21 per Cent. per Annum
Shares bearing a corresponding premium in the market. i 5
The Bank of Australia, which has just been establishe"' of
the only British Bank in these Colonies, and its Shares
e 0
E• 10 each are already at a premium of £2O per Share in l,
don. • n
That Company reserved only 500 Shares for distribution
the Colonies, the remainder being held chiefly in Low% to
cii•curristance which has been a just cause of dissatisfactio
the respectable Colonists.
The Courts of Law in these Colonies recognise a rate 0fi1;;
terest of 8 pet Cent, per Annum, but the usual mercantile of.
,
is 10 per Cent. and (there being no Usury Laws) 12 to r
Cent. is by no means unfrequent. uer
A Local Currency, bused upon a Capital affording 0115 the
tionahle security, is much wanted and loudly called for, Oros-
facilities which the proposed Establishment will afford for co,
mitiing itt safety the Funds of Emigrants and others to the, ape/
lonies, and of making remittances to Europe, will be great
highly appreciated. title
It is, therefore, proposed to form a Bank under the .0
"THE UNITED BANKING COMPANY OF .t.,'Aead
TRALIA AND VAN DIEMEN'S LAND," whose
the
shall be in Liverpool, with Blanches in Sydney all". the
Bart Town, and, eventually, at such other places
Colonies ti's may, from their rising prosperity, require the,wball
• That the operations of the Head Office at Liverpool; the
he restricted to the General Management of the Affairs of the
Company, to the receipt of money for transmission t 0 and
Colonies, for which Drafts on the Branches will be givel,liotal
to provide for the payment of all drafts drawn by the Colst.ail
Branches, and that the business of Banking in _England 1'
not
Th a Shet
be t
cthearriCapitaled on by
of the B the propankosed
be C0£600,000, in WO° mpany.
tsres
•
Arr
of £2O each, of which 6000 Shares shall be reserved for .
butien in the Colonies.
_1
That the Shares shall be Abated by the Provisional .hen►
mittee to applicants in such manner as may appear t
best calculated tnpromote the interest -of the Company- toe'
That the Company shall be coxsidered formed wh c„ ",-10,r•
third of the Shares have been appropriated; and that a of
rat Meeting of Proprietors be tls6n called for the purpof,w,e,j,
_ anc
choosing Directors, at which uo votes by proxy will be ~ hot
That no person shall be eligible for a'.Director who shall
less than 50 Shares.
That the unappropriated Shares at the time of ch,odosii,lo4.ol-ch

rectors shall be alloted by then at such times aru eritl
manner as may be thought most conducive to the prosr.b ol-
d the Company ; and that all premiums received on sn'A pr.
lotinents shall be carried to the, credit of the received fun",
gether with one-fifth of the net profits realized in each Year.
pal
That each applicant for Shares shall, upon allottnent!etp
a deposit of £1 per Share out of which the expenses attit be
ing the formation and establishment of the Company sit°
defraye. ;
That tdhe'general affairs of the Company shall be manag
a Board of Directors residing in Liverpool, and that, rr°'
boards, composed of the most respectable and intiuenti"' ,ge'
prietors in the Colonies, shall be appointed for the ina:otile
ment and superintendence of the blanches, subject to the -
direction and control of the Liverpool Board. ()nth
That a call of £2 per Share shall be made in one rat
after the appointment of Directors, and a further call %pet
per Share shall be made on the let of Jauuary, 18376 anY
which period further calls, not exceeding per Share' Hell„
one year, may be made as occasion requires, at, the LliSel: .0 of
of tlie Directors in Liverpool, one month's previous no
ea llch ca being iven to the -Subscriers.
That at all Meetings of Proprietors each person h" 11)
Shares shall have one Vote : 50 Shares two 'Votes;
•IP()
three Votes; and one Vote for each additional 50 Sn"l.--
no Proprietor to have more that six Vot..s.
nut been"
That persons holding less than 15 Shares shall n°
titled to a Vote. clot .
That at all meetings held after the first Board of 1)1:w 14:
shall have been appointed, absent Proprietors may
written proxy delegated to a Proprietor only. . eglecti:sge
That in the event of any Subscriber refusing nr tb
to pay any Call made by the Directors in conformity scatter the
resolutions, for. the space of two calendar mouths Lere!,o,_
same shall have become due, together with interestfieettl
at the rate of 5 per cent. per annum, or refusing or,Vr'es hell
to sign the Deed of Settlement when required. all 1, stio
by hint, together with all previous payments the"'
become forfeited to the oman.
That a Deed of Settlementp shayll be prepared by
.1/1 t 5130 iCe
which shall contain the usual clause for dissoivii
pang in the event of one-fourth of its Capitall)eitrrt
1
loso •t paid'
Application for Shares to be made by letter+ tl'A"f3plic,!„:
stating the Name, Residence, and Profession of the. anbly:f
addressed to the Provisional Committee of the rjnue,_, `! office.!,,
Company of Australia and Van Dieineu's Land, at Lord
Mr. THOMAS DA vetiewiT, So;icitor, Cominerce-rebralcer,
e
street; or of Air. MATTHEW WOHTHEIISPHOII, InaY b '
7, India-building., Liverpool, of wh in Prospect
U 5
had.