Q. Have your shareholders any liabilities in addition to the ownership of shares?
A. Legal opinion is to the effect that there is no further liability on bank stock.
Q. Is there any limit to the number of shares which may be held by any one person, and is your approval required before a transfer of your stock can be made?
A. There is no limit—the bank's approval is not required.
Q. Does every share have a vote at shareholders' meetings?
A. To have a vote a proprietor must hold £500 of stock, but no matter how much additional stock a proprietor may hold he can not have more than one vote.
Q. Is there any custom restricting the class from which the directors may be selected?
A. There is no legal restriction as to the class from which directors may be selected, except that they must be "natural-born subjects of England, or naturalized," but in actual practice the selection is confined to those who are, or have been, members of mercantile or financial houses, excluding bankers, brokers, bill discounters, or directors of other banks operating in the United Kingdom.
Q. How many branches have you?
A. There are eleven branches—two in London and nine in the provinces.