VICTORIA.

Lyttelton Times, Volume X, Issue 611, 15 September 1858, Page 3

VICTORIA.

; At a meeting" of the^proprietors of the new bank, called1 the.' ' Bank' of. Austra'lag »L_held ai j at Melbourne on tlieioth ult., Mr. A. fIR. Cruikshank in the chair, the final report of the Provisional Committee was read, and considered' highly satisfactory." The choice of directory which was determined by ballot, resulted in the election of the following six gentlenien ,-Messrs. A,R. Cruikshank, G.W. Porter, J Houston, T. Brown, Junr. A. Cumberland, and J. H. Lenipriere. Appended is an extract from the report alluded to;—

"Several men,of known wealth and respectability subscribed conditionally upon the number of 20,000 share's being taken up within a limited time. A number greatly exceeding that stipulated for was speedily taken up, and the large amount of general support which the company has met with, proves the soundness of the opinion that such an institution was needed.

"In conformity with the determination to Tnake the bank partake of a national character, the Provisional Committee, availing themselves of the opportunity placed at their disposal by some of their number, opened communications with mercantile firms of the highest respectability in the several Australian colonies with satisfactory results, and under similar circumstances they have addressed their friends in London.

" Acting on recommendations from Adelaide, the committee deputed their chairman to proceed to that city, for the purpose of opening a subscription list and arranging the conditions upon which a branch would be established there at a future time; applications have been invited from duly qualified persons willing to proceed to the Mauritius for a similar purpose. It will be for the Board of Directors to take such steps as may be necessary to open a branch there, or at any place or places in New South "Wales, South Australia, Tasmania, New Zealand, or such other places as the interests of the company may require.

"A premium has been offered for safe and suitable forms for the bank-notes, the designs will be laid before the directors for their decision. The committee have secured, at a moderate rental, the premises lately vacated by the "Oriental Bank Corporation," for one year, with the option of continuing for a longer period. The state of the share-list is as follows:— Shares subscribed for in Victoria, 54,000 shares. Do. South Australia to date of last advices ... ... 11,320 do. Do. other places ..2,932 do. Amount paid up in Victoria £79.000 0 0 Do. South Australia ... 3,827 10 0 Do. other places 4,950 0 0 Total amount paid up to the 7th current ...... £87,777 10 0 "It must be an early duty of the directors to apply to the Legislature of Victoria for an Act of Incorporation to limit the liability of shareholders and to confer necessary powers on the company. Power is reserved in the deed of settlement to apply for similar acts in the neighbouring colonies, and, if found necessary, to seek for a charter from the Imperial Government. "The Provisional Committee cannot close their report without congratulating the shareholders on the favorable prospects under which the " National Bank of Australasia" commences its operations, and they trust that, with a large capital and numerous local proprietories, it will ■have all the success which with energy, vigilance, and caution, it seems destined to attain."