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site at present occupied. The bank regulations are as follows:-Deposits of not less than $400 me and $16s. received. These deposits will not be entitled to interest if withdrawn before the expiration of sixty days from the date of such deposit; after sixty days they will be entitled to interest from the date of deposit. All interests not collected shall, at the end of each year, be capitalized. All deposits at interest shall be entered in a book which the bank will deliver to the depositors, in which all payments of interest and capital shall be entered, and all interest shall be payable after the first of the month or on taking out the deposit. The bank discounts bills with two signatures having from seventy to ninety days to run; it also discounts mercantile bills of from seventy days to six months, on condition that at maturity they are paid in full. The bank draws at sight upon the following branches:-Dolores, San Nicolas, Lobos, Salto, Chivilcoy, Mercedes, Baradero, and Azul. The bank pays commission to brokers on the first discounting of bills and promissory notes. The bank lends to artizans and operatives sums of from $3,000 to $20,000, taking as security a document with any well-known signature. Credits in account current are opened on the following terms:-1st. The bank opens accounts current for commercial houses. 2nd. The security to be either personal or with documentary values. 3rd. In each case the bank shall fix the amount of credit. 4th. The Directory shall from time to time arrange the interest chargable pro and contra. 5th. Each account shall be liquidated every sixty days. 6th. A pass-book shall be given to parties opening accounts current, for entry of cheques and sums deposited. Business hours from 10A.M. to 4 P.M.

THE MAUA BANK.

The Maud Bank was established in 1858, under the management of Mr. William Leslie, in an office in Calle Reconquista. The business increased rapidly to such an extent that it was necessary in January 1861, to remove to the present spacious premises in Calle Cangallo, Nos. 101 and 103, where it continues to do a large business, the present manager being Señor Amorins. For some years it was the only private bank in the country, and lent great assistance in accounts current to traders, besides aiding all manner of industrial enterprises, such as the Salado navigation, San Juan mines, &c. Baron Mauá has various branch banks throughout the Republic, which have the right of emission, although the bank in Buenos Ayres has not. This was the first institution that opened a savings' bank in the

Argentine Republic, to receive small sums at interest from the working classes. The clerks speak English, French, Portuguese, Spanish, &c.. Foreigners about to travel up the Uruguay, through Entre Rios and the Banda Oriental, will find it convenient to provide themselves with a letter of credit from the Mauá Bank of Buenos Ayres or Montevideo, as, owing to its numerous branches in the different towns, drafts on this bank are everywhere received the same as cash: the chief circulating medium at all the saladeros and estancias on the Uruguay is Mauá bank paper. The Mauá Bank is the largest real estate holder in the River Plate, owning immense estates on either side of the Uruguay, as also large properties in and about Buenos Ayres and Montevideo. Unlike the London and River Plate Bank, the head establishment of the Mauȧ Bank is in Rio Janeyro, whilst the bank here is but a branch. The banking-office, in Calle Cangallo, which the bank holds in fee, is one of the finest buildings in this city, built by a wealthy Paraguayan gentleman in 1861, who sold it to the Baron Maua in 1866. The close proximity of the bank to the Bolsa renders it a most convenient establishment for the «almaceneros» and dealers, who have so steadily supported this bank. Mr. Souza, the deputy-manager, speaks English fluently, and is most attentive to strangers. Mr. White is the head book-keeper. The bank regulations are as follows:-1st. Bills and obligations with good signatures are discounted on conventional terms. 2nd. Money is advanced on mercantile and other securities, approved of by the Manager. 3rd. Accounts current are opened with mercantile or other parties who may prefer depositing endorsed and transferable securities, against which they may draw up to an amount previously convened, under conditions established for such class of operations. 4th. Money is received in account current, bearing interest from day of deposit, which is accumulated in favor of the parties every three months, the depositors. being allowed to draw at any time, by means of cheques, part or the full amount at their wish, save when the quantity exceeds 300 doubloons or $100,000 m/c., in which case forty-eight hours' previous notice is required to be given at the treasury of the bank. 5th. Bills or letters of credit are. drawn and taken on Montevideo, Rosario, Santa Fé, Salto (Banda Oriental), Paysandú, Rio Janeyro, and other places in Brazil, England, and France, as also on other places, of which notice will be given hereafter The establishment is always open from 10 A.M. till 3 P.M. The Savings' Bank, at No. 103 Calle Cangallo, is open from 9 A.M. till 3 P.M. every day, for the reception of the savings of the working classes, Sundays and holidays excepted. The bank will deliver to each depositor a pass-book, in which will be entered the amount deposited and withdrawn. The depositor is

LONDON AND RIVER PLATE BANK.

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permitted at any time to withdraw the whole or part of the sum deposited; in the former case the interest will be calculated up to date. 1st. The bank receives at interest any sum from $25 m. 2nd. The interest allowed is 6 per cent. per annum, which is liquidated every six months. 3rd. The depositors can at any time withdraw the whole or part of the money deposited. 4th. Once the money deposited exceeds $25,000 mc., or $1,000 s., the depositor, if he wishes, can open an account current, according to the rules established by the bank. The Mauá Bank, as well as the London and River Plate Bank, subscribes liberally to all local charities.

THE ENGLISH BANK.

The London and River Plate Bank, established on 1st January, 1863, was first situate in the house of Señor Elortondo, 80 Calle Piedad, and now occupies the fine new building at the corner of Piedad and Reconquista. The bank was started by a number of London merchants, many of whom had some connection with the River Plate, the authorised capital being £2,000,000 sterling, in £40 shares, subscribed capital £1,000,000, and paid up capital £600,000: the management was entrusted to Mr. J. H. Green, a merchant of many years standing here; and the eminent financier, Don Norberto Riestra, was named Consulting Director. The success of the bank was very decided from the outset, and it soon began to rule exchange on England. The introduction of so large an amount of English gold had, at the time, a most healthy effect on our money market, and since that period all other kinds of coin have almost disappeared, while the English sovereign, previously unknown, has now become the current specie of the country. English habits of business have also gained strength in our cosmopolitan trading community, and the bank has insensibly proved a powerful medium in the industrial reformation which is being happily worked out among us. The staff of clerks quickly rose from three to a dozen, and now numbers thirty, showing how the business of the establishment has grown in six years, while branches have also been established at Rosario and Cordoba, besides the house in Montevideo, which last was founded simultaneously with that of Buenos Ayres. During the Paraguayan war the bank lent valuable aid to the National Government, by finding funds and making advances when circumstances rendered such negotiations more of a friendly favor than a business transaction. Nevertheless, the bank has not yet been able to obtain a right of issue in Buenos Ayres, as this privilege depends on the Provincial Government, which gives the State

bank a monopoly in this regard. In 1866, a panic having arisen among the working classes who had deposits in the Provincial. (or State) Bank, Mr. Green came forward promptly to its support, as did also the Mauá Bank and the leading capitalists of the city. Mr. Riestra resigned his post as Director in 1865, being appointed to go to London to negotiate the loan. During some critical monetary periods the bank has passed safely and honorably, and the Rosario branch has been equally successful: the Cordoba branch does little as yet. In 1866 new shares, £20 each, were emitted in London, raising the subscribed capital to £1,500,000, and the reserve fund in 1868 amounted to £145,000. The annual dividends from the commencement have ranged between 10 and 15 per cent., and the shares are always at a good premium. The premises first taken in Calle Piedad were found insufficient in 1864, and the bank purchased the corner building of Calles Florida and Cangallo; but this was afterwards sold at a profit, it being resolved to erect a proper bank at the corner of Calles Piedad and Reconquista. This handsome structure is one of the ornaments of our city, and in the best business locality. It was commenced in January 1867, and is now completed; Mr. Hunt of this city was the architect, and had great success in the style of architecture chosen, which is of the Roman-Corinthian order. The roof came out from England, and is a very fine piece of workmanship, extremely light, and at the same time of great strength. Over the principal doorway is placed a clock, by Frodsham of London, which, besides adding to the finish of the building, is of great use in that part of the city, where the traffic is large. The grand hall is 90 feet long by 45 feet broad, and the ceiling is 42 feet high, embracing the entire height of the building: the flooring of the hall is composed of Winton's patent tiles. Besides the grand hall there are manager's rooms, consulting and waiting rooms, clerks' luncheon and dressing rooms, and porters' quarters. Every possible modern improvement has been introduced in fitting up the establishment. The furnishings are by Rough and Son, of St. Paul's Churchyard, and are of the best description, constructed on the most improved plans, with everything conducive to facilitate the despatch. of business. The cashier's counter, for paying and receiving money, has a sweep of 60ft. in length. The vaults underneath are perhaps one of the most interesting features in the building; a hydraulic lift of considerable power lowers the bullion down with a very easy motion. The room is 48ft. in length by 12 ft. in width, divided into three separate compartments by strong iron bars; each compartment is laid off with marble shelving, and they are capable of accommodating, besides the treasure of the bank, any quantity of valuables that may be placed there for safe custody. The

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upper portion of the back part of the building contains a very comfortable dwelling-house, occupied by the principal officials. The bank regulations are as follows:-Current accounts opened with parties properly introduced, and interest allowed on credit balances. Customers have the advantage of drawing cheques, of having approved bills discounted, of obtaining loans upon negotiable securities, of depositing bills, coupons, &c., for collection, and of lodging with the bank valuable property in the fire-proof strong rooms for safe custody. Deposit Accounts-Deposits received from the public generally either for fixed periods or subject to seven or thirty days notice of withdrawal-interest on which is regulated by the market value of money, the bank notifying any change in the rate by advertisement in the principal daily papers. Bills of Exchange issued on the following places:-London, Dublin, Liverpool, Paris, Antwerp, Hamburg, Genoa, Rio de Janeyro, Montevideo, Rosario, Cordoba, and all branches of the National Bank of Scotland. Business hours, 10 A.M. to 3.30 P.M. every day.

THE ARGENTINE AND OTHER BANKS.

The Argentine Bank was established in 1867, through the exertions of Messrs. Cullen, O'Shee, Lanuz, Iturraspe and other influential merchants and capitalists. It was founded on the basis of the Rosario Bank, a flourishing institution with some branches in Entre-Rios. The capital was fixed at $2,000,000, in shares of $100 (£20) each, of which $60 were called up, and the bank commenced a good and lucrative business under the management of Señor Marcó del Pont; the dividend declared for the last half year (1868) was at the rate of 22 per cent. per annum. The premises are situate next door to the Provincial Bank, in a house belonging to Judge Medina, which had previously been fitted up as a small theatre. In the first allotment of the city by Don Juan de Garay, on June 11th, 1580, this site is marked No. 7, and was given to an adventurer named Estevan Alegre. The counting-house and savings-bank are on either sides of the entrance. and the manager's office forms the fourth side of the court-yard. The business and regulations of the bank are similar to those already noted. The branches at Cordoba and Rosario happily escaped uninjured during the convulsions of 1866-68. There are also branches at Santa Fé, Paraná, Concordia, and Gualeguay; the notes of the bank are convertible at all these branches. The currency is in two kinds of paper, viz.: Bolivían dollars, and patacons or Mexican dollars. Most of the shareholders are

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