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

I. 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 (b)
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 impediment 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.

A specimen bond together with a bond duly executed, or scrip certificate if issued.

Statutory declaration by the agents, stating

1. The amount allotted unconditionally to the

public.

2. That the required amount, viz., £.

has been paid thereon in cash.

per cent

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 forth—

1. 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 I.

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.

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

Dated January 6, 1910.

J. G. NAIRNE, Chief Cashier.

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.]

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.

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.

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.