CO129-095 - Public Offices - 1863 — Page 393

389

1

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"Criental Bank' auch the Chartered Mercantile

Bank - but it will be found

reference

to the Charters of the three Banks in

question, that the only distinction is, that

The Charter

مجھے

موسم

Charter of the Agra Bank "conferal' no limited Liability to the Shareholders, whereas the Charters of the Oriental Bank and of the "Chartered Mercantile Bank lunted the Liability of the Shareholders of

the amount those Banks to double

Shares

The Charters

of

all three Banks

of.

of

ivere

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their

Her Mapsty in virtue of alike granted by Her prerogative, and the "etga Bank" only obrained limited liability by subsequently registering itself under the 21 and 22 vict: cap 91 which extended the principle of.

limited liability to Banking Companies, and it is competent for the other Banks to do

The scuse

thing whenever they think proper themselves within the proersions of

Ao

bring

the Act

In reference to the petition for

- supplemental charter presented by the Bank

to the

Bound of trade in chugust 1861, it cappears by the "Draft that the ground' of

the prehten was

letter

under

not as stated in

that doult

had an xw

Mr. Peel's

whether

then charter of Incorporation the

Bank possessed the

power

"but that thei Charler conteurned " no express power "to lo

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/

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which then then' Solicitor sunadeado

actersed their to obtain because he found that there was such express power in the Charters of

The other Banks.

alluded to, but Her Mapshy's attorney and Jobicctor General and Mr Pollock, were clearly of operon

as

upon the question being subunthal to them

that the Ayra Bank had the

csson

کر یا کسی

case,

form in questions, the Board of Directors clid

nut feel justified

delay of obtaining

and instructed as

of

A

incursing the expense and Supplemental charter,

to withdraw the petition,

which we did, both verbally at the Office

the Bound of - Trade where the petition had bun presented, and by letter to Mr. Broth dalect the 28th Dew 1861-

are

The Directors

surprised at the ponagraph. in Mr Peel's letter stating that your Lordships objectect to a compliance with the pranger of the petition

letter from grounds Mr. Hamarlton to Mr Booth banning date the 13th Aug! 1861

Copy of

on

the

سائیں

sta let

en a

which letter

CMகடன்

tromsmittal by M. Peel to the Duke of Newcastle and fawarded to us by His Grace That Copy is the first and only intimation which the Bound of Duicton or ourselves, have ever receive that your Ladelups hack

any

Bank