The Liverpool Standard and General Commercial Advertiser.
Liverpool, Merseyside, England, 1833-12-13 00:00:00

JOINT STOCK COMPANIES.

We have frequently taken occasion to caution the pub-
lic against the liabilities,—the unforeseen, the immense
liabilities they incur, by becoming partners in Joint
Stock Banking Companies, whether established in the
Metropolis or in the Country ; whether assuming the
titte of a " national" or the " metropolitan" Banking
Company, or the more unassuming name of a county,
city, or town Bank. There was no Act of Parliament
passed in tire last Session, which in the least degree al-
tered or removed these liabilities; the entire property,
therefore, of every partner is at stake, and subject to the
acts and ladies of his co-partner. The partner belong-
ing to the branch Bank in Gloucester, for instance, is
liable for the acts of his partners in the central concern
in London; nor can he by any possibility know the daily
changes that are-taking place in the number and respnn--
sibility of his partners, by the constant transfer of shafes
that are going on. These Joint Stock Banks also cannot
sue and be sued in the name of a legalized officer—the
names of all the partners must be brought before the
respective courts on the institution, of any law proceed-
ing.' These are a few of the liabilities and risks to which
every partner must submit.
By chance the following clause in the act of the 4th of
the present King, entitled "An Act for giving to the
Corporation of the Governor and Company of the Bank
of England CERTAIN' PRIVILEGES for a limited period, un-
der certain conditions," fell under our notice ; and we
should think, after the perusal of it, that the expectations
held out by the Joint Stock Banking Companies in Lon-
don and elsewhere, of making 10 and 20 per cent. profit,
must be considerably diminished. We allude more par-
ticularly to the 3d clause, which is as follows :

" And whereas the intention of this act is, that the Governor
and Company of the Bank of England should, during the pe-
riod stated in this act, continue to hold and enjoy all the exclu-
sive pririleoes of banking given by the recited act of the 39th and
40th Ge 0.111., &c., but no other or further exclusive privilege.
And whereas doubts have arisen as, to the construction of the
said acts, and as to the extent of such exclusive privilege, and
it is expedient that all such doubts should be removed;—be it
therefore enacted, that any body politic or corporate, or society,
or company, or partnership, although consisting of more than
six persons, may carry on the trade or business of banking in
London, or within 65 miles thereof, provided that such body po-
litic or corporate, or society, or company, or partnership, do not
bosrou., ou•e, or takC up in V.ngland any sum or sums of money
on their bills or notes payable on demand, or at any less time
than six months from the borrowing thereof, during the conti-
nuance of the privileges granted by this act to the said Governor
and Company of the Bank of England."
We should like to hear from any gentleman acquainted
with the legitimate and usual profits of banking, what
new and possible advantages can any rational man expect
to derive from becoming a partner in a Joint Stock Bank
concern, when, in addition to the liabilities and risks we
have enumerated, the business of the Joint Stock Bank
is thus curtailed by the exclusive-privileges of the Bank
ofEngland.—GAßDEZ VOUS MESSIEURS !—Farley's Bris-
tol 410111nd.

LITERAL TTRANSLATION OF AN INK-MAKER'S SHOP-BILL.--
At the shop Shun-wang—very good ink—fine, flue, ancient
shop—grandfather, father and self make this ink—tine and
hard, very hard,—picked cut, very fine and black, beforo now,
—sell very good ink, prime cost very high. This ink is very
heavy,—so is gold. No one makes like it. Others who make
ink, make it for money, and to cheat; I only make it for a name.
Plenty of gentlemen know my ink. 'My family never cheats,
always bears a good name. I make ink for the " Son of Ilea-
ven," and all the mandarins round. All A-kwan-tsae's (gen-
tlemen) must come to my shop, and know my name'.—Chinese
Counter.