Symud i'r prif gynnwys
Cuddio Rhestr Erthyglau

72 erthygl ar y dudalen hon

THE PROPOSED NEW BANK. _ ;

Newyddion
Dyfynnu
Rhannu

THE PROPOSED NEW BANK. The commercial classes of South Wales have followed Ii ith interest the proposal to form a new bank, in lieu of the West of England and South Wales District Bank. The scheme has taken shape sufficient to judge of its leading features and prospects. It is proposed to call the new establishment the Bristol and West of England Bank (Limited). Its capital will be £1,000,000, in 50,000 shares of t20 each—one-half of the capital to be paid up immediately. The principle of limited liability guarantees to each shareholdr that his liability does not extend beyond the definite limit of his shares. On the other hand, depositors will have the guarantee of a regular and searching audit; an assurance that dividends beyond six per cent will not be paid until a re- serve fund equal to one fifth of the paid-up capital has been created. Besides this, the new bank will have the services of the most experienced officials of the defunct establishment, who will be able to gather together much of the old, and most valuable, connection of the West of Eng- land and South Wales District Bank. It is generally admitted that a new bank is wanted—that but for two accounts, and the panic resulting fiom the City of Glasgow Bank collapse, the West of England Bank would to-day be flourishing. Business men who help to establish the new bank will be practically helping themselves and the commerce of the district. The crucial test—will the new bank pay?—ia beyond doubt or dispute. It will not only pay the shareholders, but it will quicken the wheels of many local industries. Much satisfaction is felt at the popular local managers of the West of England branches at Cardiff, Newport, and Swansea throwing in their interests with the proposed new bank—a substantial number of the shares of which have already been taken up.

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