11. The Exchange Banks proper fall into two groups—those doing a considerable proportion of their total business in India, and those which are no more than agencies of large banking corporations doing business all over Asia. This second group includes the Comptoir National d’Escompte de Paris, the Yokohama Specie Bank, the Deutsch–Asiatische Bank, the International Banking Corporation, and the Russo–Asiatic Bank. These Banks represent in India French, Japanese, German, American, and Russian interests respectively. No figures are published of the proportion of their total business which these Banks transact in India. But I should be surprised if, even in the case of the Yokohama Specie Bank, it would amount to more than five to ten per cent; and in the case of some of them it must be much less than this. In what follows, therefore, I shall leave these five Banks out of account. In the first group there are six Banks—the Delhi and London Bank (1844), the Chartered Bank of India, Australia, and China (1853), the National Bank of India (1863), the Hong Kong and Shanghai Banking Corporation (1864), the Mercantile Bank of India (1893[97]), and the Eastern Bank (1910). The dates after these Banks give the years when they were established. Of these, two, the Chartered and the Hong Kong Banks, do a very large business in other parts of the East, especially China[98]; but this does not prevent their Indian connexion from being important. The other four are primarily Indian.[99] It is noticeable that no entirely new Exchange Bank now surviving[100] was founded between 1864 and 1910. This is in spite of the fact that most of the above, especially in the last decade, have proved enormously successful from the point of view of their shareholders. The Delhi and London Bank,[101] the oldest established of all, has not shown the vitality or power of expansion of the others; and the Eastern Bank, though it seems to have made a good start, is still too young to pass judgment on. But the shares of the rest, if the issue of bonus shares be allowed for, stand at a premium of about 200 per cent or more. It is probable, however, that it would be exceedingly difficult to start a new Exchange Bank at the present time, except under the aegis of some important financial house already established in a strong position in India.[102] Indian Exchange Banking is no business for speculative or enterprising outsiders, and the large profits which it earns are protected by established and not easily assailable advantages.