BANKING CAPITAL IN SCOTLAND.
It is a good sign of increased trade activity North of the Tweed that two of the Scottish Banks have recently announced a fresh issue of capital. At the annual general meeting of the proprietors of the National Bank of Scotland reference was made to an impending new issue of capital, amounting to (Continued on page 1162.)
FINANCIAL NOTES
(Continued from page 1160.) £400,000, which is to carry a maximum rate of dividend, " probably 5 per cent.," and is to be fully-paid. Particulars are to be notified to stockholders in due course, but the Governor, at the meeting, made the interesting statement that, while Lloyds Bank is of course entitled to subscribe, that institution has agreed to stand aside so as to allow the bank's friends and customers to acquire it should they so desire, and stockholders are to have the opportunity of subscribing in accordance with their present holding. The latest report and accounts of the bank were most satisfactory and the balance-sheet was a very liquid one ; the new shares, therefore, should prove to be distinctly attractive.
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