The Liverpool Standard and General Commercial Advertiser.
Liverpool, Merseyside, England, 1835-03-17 00:00:00

LIVERPOOL. UNION BANK.

• • . ._ .
• - - Cserrat. 1.1,i00 000 , . •
and 118 subject of Public Iliitiking has- within the last few
years has brought so promilnently forward, at ha*
been so thoroughly discussed, that iu announcing the formation
of a new Banking in Liverpool, it would be superfluous' to
attempt any futher devolpeineut „of its general principles, or to
descant upon its peculiar .advaatages, which. are doubtless well
understood and duly appecia.ted by the enterprising Inhabitants
of a town which, it. a commercial point of view, rauka second
only in importance to the-Nletropolis of the
.Empire.
It is true that we. have already several Joint-Stock Banks
in the town ; but of these the majority ,are merely Branches: or
Manchester Establishments, and their
.eperations aw-iither
wholly or partially controlled by the Directors ofth 'ilespectivo
Head Offices in Manchester. .., . .„ .
t
The vast magnitude . and groWing impOr, eof the Trade y
of Liverpool present a wide and rapidlv- extending field for
another Local Joint-Stock 13ankeestablillied upon a sound and
popular basis, and which, though essentially kcal and inde,
pendent in its character and therefore exempted from the risk
payment,
uncertainty incident to; and' indeed inseparable from the
erequisite facility fur
means of arrangements
preCarious working of a complicated ,4171zu“'s of distant
tea n
receiptche s,
andwii ialyeymeertihaeuletssumatityrd every r
, by
made with existing, Banks, in various parts ..f the lingdoin.
It is -therefore proposed to raise a Capital of Six Hundred
Thousand Pounds, in Thirty ,TilPtisand Shares of Twenty
Pounds each, and to
call up Ten Pounds pee Share ; One
Pound per Share to be deposited on the allotment of Sharers
by the Committee, and the reotainder at such period or periods
as may be deemed advisable by the Directors, previously to the
counn'encement of business.
•dged. willbe found This amogooient, it is.) .
a. _.- .. . preferable either
to the plan of a large- potion te;aPitl4l, with a fttall amount
to that of small Shares, all paid up; as in the
paid up, or , .
ti interference • . •
former case Leifis"--.7 . • - will in all -preluibilOty
enforce a different ratio, and m, the latter, it might happen that
no other expedie,
ut would be available for increasing the Capital,
should circumstances occur to render- such a step desirable,
than that of graoting Shares to an lunproductive class of cus-
tomers, who might be induced to purchase them fur the mere
purpose of investtuent.
The business of the Dank will be conducted by a Board of
Directors, uot exceeding six in number, anti a Manager elected
by the shareholders from their own body, at ii Public Meeting
to be cniNened by advertisement, as soon as the Committee
shall consider it advisable to proceed to the legal organization
of the Company.
The Accounts of the Company to be laid before the Proprie-.
tors at a General Meeting to be held on the first of May annually,
The 'scale of voting to be as, follows : viz., for ten slieres,
one vote; fifty Shares, two votes; one hundred Shares, three
votes; two-hundred Shares, four votes; and for three hunched
_Shares, and upwards, five votes ; but no individual Proprietor
to he entitled, under any circumstances, to more than five votes,
No person to hold fewer than five Shares, or more than five
hundred, and a Director not less than one hundred Shares.
Applications for Shares will lie-received bet weeri.the hours of
twelve and two daily. at the Clarendon-eowPs, by the Provi.
sional Committee, now lornied, or by Messrs. LOWNDES
and ROBINSON, Solicitors, Brunimick,stle,,t. .