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Two certified copies of the memorandum and articles of association.

Certified printed copies of all contracts, agreements, etc.

Copies of all contracts relating to the issue of fully or partly paid shares.

A statutory declaration by the chairman and secretary stating

1. That all documents required by the companies

acts have been duly filed with the registrar of

joint stock companies and dates of filing. 2. The authorized capital of the company. 3. The number of shares to which shareholders in

the old company were entitled; the number and distinctive numbers of shares unconditionally allotted to such shareholders; and the amount per share (a) paid thereon in cash, and (6)

credited as paid up. 4. The number and distinctive numbers of shares

applied for by and allotted unconditionally to the public, and the amount per share (a) credited as paid up, and (b) paid thereon in

cash. 5. That the share certificates have been or are ready

to be delivered, and that there is no impedi

ment to the settlement of the account. After the application form has been signed the following documents must be supplied in the case of loans

Details of the creation of the loan, and the authority under which it is issued, including authenticated copies of concessions, etc., with notarially certified translations.

The authority to the agents or contractors to receive subscriptions.

A certified copy of the prospectus.

Evidence that all bonds issued and payable abroad bear the signature of some properly authorized person.

per cent

A specimen bond together with a bond duly executed, or scrip certificate if issued. Statutory declaration by the agents, stating1. The amount allotted unconditionally to the

public.
2. That the required amount, viz., £.......

has been paid thereon in cash.
3. That the bonds are ready for delivery, and that

there is no impediment to the settlement of

the account. 4. The numbers and denominations of those bonds

which bear the autographic signature of the

London agents or contractors. After the application form has been signed the following documents must be supplied in the case of bonds quoted abroad

Official evidence of quotation in the country to which they belong or where the issue has been made.

Notarially certified printed translations of all prospectuses, and of the laws creating and authorizing the loan.

A specimen bond, together with a bond duly executed. An official certificate setting forth1. The authorized and issued amounts of the loan,

and the terms of issue. 2. The distinctive numbers and denominations of

the bonds. 3. Evidence that all bonds bear the signature of

some properly authorized person.

THE HISTORY OF THE SEPARATION OF THE DEPARTMENTS OF THE BANK OF ENGLAND.

By Sir R. H. INGLIS PALGRAVE, F. R. S.

CHAPTER 1.

HISTORY OF THE SEPARATION. The separation of the issue department from the banking department of the Bank of England was carried into effect so many years since (it dates from the passing of the bank act by Sir Robert Peel, in the year 1844) that hardly anyone now living can remember the time before the change was made, when the accounts did not appear as they do at present. The form of statement now published weekly appears probably to many of those who study it as the plan on which the statement of a note-issuing bank would naturally be drawn up, and they are hardly aware that the Bank of England is practically the only bank that follows or ever has followed this method of keeping its accounts. Before the year 1844 the accounts of the Bank of England were drawn up on the form followed at the present time by the Bank of France, the Bank of Germany, the Bank of the Netherlands, the Bank of Belgium, and, indeed, by all the other great issuing banks of the world. I add, to make this point clear, the balance sheet of the Bank of England—both according to the ordinary weekly statement and arranged to correspond with the forms employed by the other banks—and the balance sheets of the banks of France, of Germany, of the Netherlands, and of Bel

gium. The return of the Bank of England is of January 6, 1910. The dates of the balance sheets of the other banks are stated on them. The weekly publications of these banks do not give all the details required. Hence I have thought it well to give the annual balance sheets of these banks. No other statement than the weekly returns is published by the Bank of England.

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77, 007, 157

77, 007, 157 a Including exchequer, savings banks, commissioners of national debt, and dividend accounts.

J. G. NAIRNE, Chief Cashier. Dated January 6, 1910.

The above is the statement as it appears in the weekly

returns.

Balance sheet, January 6, 1910.

[Arranged so that it corresponds in form with the balance sheets of the other banks

given here.]

LIABILITIES.

ASSETS.

Capital and rest.
Notes in circulation
Seven-day and other bills.
Public deposits
Other deposits.

£17, 913, 154
28, 865. 720

18, 046
9, 936, 777
49, 139, 180

Gold coin and bullion and
silver coin.

£33, 703, 843
Government securities in
both departments.

28, 523, 045 Other securities.

43, 654, 989

105, 872, 877

105, 872, 877 Note.--All per contra entries, as those of the notes of the banks held by themselves, etc., are omitted, so as to show the real position of the accounts.

BANK OF FRANCE.
Balance sheet, December 31, 1908.

[Francs converted as 25= £1.]
LIABILITIES,

ASSETS. Capital of the bank

£7,300,000 Coin and bullion at Paris Reserve and profits in ad

and at the branches £175, 401,607 dition to capital.

1, 700, 774

Bills due yesterday to be Notes payable to bearer in

received this day..

1, 757 circulation (head office

Amount of bills: and branches)

197, 972, 403

Paris... £9,920, 192 Drafts.

914,397 Branches. 18,886,626 Current account with the

28,806,818 treasury

7, 199, 491

Advances on securities: Current accounts and de

Paris. ---- £6, 332, 341 posit accounts:

Branches. 14,478, 603 Paris. £22,780, 727

20,810, 944 Branches 2.721, 524

Advances to Government 25, 502, 251

(laws of June 9, 1857, Dividends unpaid, etc.,---- 1,876, 386 June 13, 1878, November

17, 1897).

7, 200,000 Government stock reserve fund

519, 230 Disposable funds, government stock.

3,985, 234 Immovable funds, govern

ment stock (law of June
9, 1857).

4,000,000
Amount appropriated to
special reserve

336, 298 Office and furniture of the

bank and buildings at the
branches, etc.

1, 403,814 242, 465, 702

242, 465, 702 NOTE.—All per contra entries, as those of the notes of the banks held by themselves, etc., are omitted so as to show the real position of the accounts.

IMPERIAL BANK OF GERMANY.
Balance sheet, December 31, 1908.

(Marks converted as 20= £1.]
LIABILITIES.

ASSETS. Capital and reserve.

£12,458, 581 Gold in bars. £16,792, 075 Notes in circulation.

98, 771, 474 German gold Amount due on clearing and

coin.

21,620,898 current accounts.. 33, 244, 291

£38,412,973 Deposits (not bearing inter

Divisional money

10, 594,046 est). Sundry liabilities and reserve

49, 007, 019 for doubtful debts.

720, 072

Notes of imperial treasury Net profits for 1907

1,537, 287 (Reichskassenscheinen). - 2,876, 243 Notes of other banks.

505, 105

25, 167

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51, 600, 119 Bills on foreign places. 6, 457, 493

58,057, 612 Loans.

8, 796, 468 Securities.

19, 724, 627 Value of real property belonging to the bank..

2,849, 450 Sundry assets.

4,940, 348 146, 756,872

146, 756,872 Note.-All per contra entries, as those of the notes of the banks held by themselves, etc., are omitted so as to show the real position of the accounts.

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