The prospectus of a new Australian bank has just been
issued : to be a chartered company; and to be called the London Chartered Bank of Aus- tralia. The Chairman is Mr. Duncan Dunbar, the extensive shipowner. Banking would appear to be a very speculative business in Australia ; the shares of the Bank of Australia, upon which 40/. is paid, having fluctuated from 781. to 15/., and being now about 561. ; while those of the Union Bank of Australia, 251. paid, after fluctuating considerably, are now from 44/. to 45/. The Royal Bank of Australia is now in the Court of Chancery un- der the Winding-up Act, all the subscribed capital being absorbed.