The Press. — London, England, 1857-07-25 00:00:00

QEVEN'rEENTH REPORT of the Directors of the COMMERCIAL BANK of LONDON for the year ending 90th June, 1;457. -- At an ANNUAL GENERAL 11IEETING of the Shareholders, held at the Banking-house, Lothhury, on Tuesday. the 2let July, 1t361. DIRECTORS. MARK HUNTER, Esq., Chairman. Charles Butler, Esq. Sir Joseil Paxton, M.P. Edward Stillingfleet Cayley, Robert Stacey Price, Esq. Esq., M.P. John Savage, Eaq. John Alfred Chowne, Esq. IlerJert Taylor, Esq. George Clive, Eaq., M.P. Joseph Thompson, Esq. William Cooper, Esq. Joseph Underwood, Esq. Jonathan Hopkinson, Eaq. Thomas Winkworth, Esq. William Jackson, Esq., M.P. Present, 73 i'roorietors. The Manager read the advertisement calling the Meeting, and afterwards the following Report:— The Directors have now to place before the Proprietors the balance•sheet for the year ending 3uth June last, showing a net profit of 26,8101. 14s. 7d., after deducang current expenses, and making provision for bail and doubtful debts. The Directors propose to declare a dividend of 4 per cent, for the past half-year, makirg, with the dividend already paid, 7i per cent,. for the year, free from Income tax. After payment of this dividend there will remain a sum of 43901. 14s. to be carried forward to profit and loss new ec• count for rebate of interest on bills not yet due, and a further sum of 1191. 19s. hid. to be added to the reserve fund, which, with the annual interest, will then amount to 73,27.1. 19s. 19d. It will be seen that the business, and consequently the profits of the Bank, have been much reduced by the unfounded and injutious rumours circulated in the autumn, which were brought to the notice of the proprietors at the Meeting held in December last. The Directors are happy to owe that the explanations then given, together with the promptitude with which the pres sure was met., had the effect of entirely s itisfying both the proprietors and the public of the strength and solidity of its position. The Directors could not expect, in the face of active competi• tion, immediately to recover the ground then lost, but they have the satisfaction of stating that some of the accounts which had been withdrawn have since returned, and that many new and valuable accounts have been opened since the commencement of the present year. Several proprietors having expressed a wish to see the number of Directors reduced, the Board propose t_, lake power under the Deed of Settlement to alter the minimum number from le to 12. In compliance with the provisions of the Deed of Settlement, the following Directors, viz., Charles Butler, Esq., John Alfred Chowne, Esq., John Savage, F:sq , and Joseph Thompson, Esq., retire from ottice, but., being eligible, offer themselves as candi dates for re-election. The report and balance•sheet baying been read, it was Resolved, 1, That the report cud balance•eheet just 'read be approved, printed, and circulated among the Proprietors. The Chairman, Mark Hunter, Esq., on the part of the Direc tors, declared a dividend ou the paid-up capital of the Company at the rate of 8 per cent. per annum for the past half-year, free from Income tax, payable on and after the let August next. Resolved, 2, That the following Directors, viz., Charles Butler, E.:sq., John Alfred Chowne, Esq., John Savage, Esq., and Joseph Thompson, Esq., who go out of office in pursuance of the Deed of Settlement, be re-elected Directors of this Bank. Resolved, 3, That the thanks of this Meeting be presented to the Chairman and Directors for their attention to the affairs of the Bank during the past year, and to the Chairman for his con- duct in the chair this day. Resolved, That the best thanks of the Shareholders be given to the Manager, Mr. Cutbill. MARK HUNTER, Chairman. The Annual General Meeting having terminated, the Meeting was ma .e special, when it was Resolved, 4, That the provision contained in the 7th clause of the Deed of Settlement be varied and be read as if the word " twelve" were snbstituted for the word " sixteen " as the number of Directors, but subject to the same provision for in crease or reduction in number as at present provided. COMMERCIAL BANK OF LONDON. Balance Sheet to 3Uth of June, 1807. Dr. L s. d. Capital Subscribed 11,500,000 Capital paid up, 201 each on 15,000 Shares .... 300,000 0 0 Guarantee Funu, invested in Government Secu rities Add Interest fur the Year 2,301 13 9 -- 73,123 0 0 Balances Clue to the Customers of the Bank .... 938,724 11 8 Balance carried down after paying Income tax, and deducting all Charges and Expenses, in cluding 24,387 i. ba. 3d. interest due to Custo mers, and makingproviaion for bad and doubt ful Debts 11,336,658 0 1 Cr. a. d. Cash in the Bank and at Call, at the Bank of England, Exchequer Bile, India Bonds, and Consols 343,1+33 0 6 Rills Discounted, Loans on Stock. and other Securities 990,476 5 7 Strongroom Fittings and new Furniture since 1854, premises held on lease 3,000 0 0 ‘1,336,658 6 1 Dividend at the rate of 7 per cent. per annum for the Half• Year ending December 31, IM, nlrea.ty paid £10,500 0 0 Dividend at the rate of 8 per cent, per annum for the Half• Year ending June 30, 1837 . 12,000 0 0 Rebate of Interest on Current 13111 s carried to Profit and Loss, new account 4,1130 14 9 Balance carried to Guarantee Fund, making that Fund 73,274195. 10d 149 19 10 .C 26,610 14 7 Balance brought down . $26,81014 7 THE COMMERCIAL BANK of LONDON. The Directors hereby give Notice, that a DIVIDEND on the paid.up Capital of the Company, at the rate of 8 per cent. per aimum, for the II alf•Year eliding 30th June, 1867, free from Incorm•-tax, will be payable at the Banking.houtie in Lothbury On and after Saturday. the Ist of August. A printed List of the Proprietors will then be ready for delivery. By order of the Board, Dated Jul y2l, 1807. A. B.CUTBILL, Manager. . TH.E PRESS, Jtru 25, 1857. NOTICE OP DIVIDEND. BANK OF DEPOSIT, N 0.3, PALL-MALL EAST, LONDON. The WARRANTS for the HA LF.YEARLY INTEREST, at the rate of Five per Cent. per annum, on Oeposit Accounts, to the 30th June, are ready for delivery, and payable daily between the hours of ten and four. PETER MORRISON, Managing Director. 10th Jiilr, 1857. Prospectuses and Forms for opening Investment Accounts sent free on application. RANK OF DEPOSIT. JJ NATIONAL ASSURANCE AND INVESTMENT ASSOCIATION, No. 3, PALL MA LL MAST, LONDON, S.W. (Head Office) No. 2, ST. ANDREW SQUARE, EDINBURGH No. '202 UNION STREET, ABERDEEN No.s, thiERRY STREET, BIRMINGHAM No. 9, PAVILION BUILDINGS, BRIGHTON No. E 4, HIGH STREET, LEWES N 0.9, WESTMORELAND STREET, DUBLIN Established May, 1h44. Empowered by special Act of Parliament. This Company was established in 18 ( 4, for the purpose of opening to the public an easy and unquestionably safe mode of Investment, with a high and uniform rate of Interest. The plan of the Bank of Deposit differs entirely from that of ordinary Banks in the anode of employing capital —money depo, sited with this Company being principally lent upon well•secured Life Interests, Reversions in the Ow/eminent Funds, or other property of ample value. This class of securities, although not immediately convertible, it is well known yields the greatest amount of profit combined with perfect safety. Further, Loans made by the Company are collaterally secured by a Polley of Assurance on the life of the Borrower, or his nominee, effected at a rate of premium which insures the validity of the Policy against every possible contingency. Thus Depositors are effectually protec:ed against the possi bility of loss, whilst the large and constantly increasing revenue arising from the premiums on Assurances thus eff.mted yields ample profit to the Company, and provides for all the expenses of management. DEPOSIT ACCOUNTS may be opened with soma of any amount and increased from time to time, at the convenience ofdeposi:ors. A receipt, signed by two Directors, is given for each BUM deposited. RATE AND PAYMENT OF INTEREST. The rate of Interest since the establishment of the Company has never been less than five per cent. perannum ; and it is con. fidently anticipated that the same careful and judicious selection from securities of the description above mentioned will enable the Board of Management to continue this rate to depositors. The Interest is payable in January and July; on the amount standing in the name of the depositor on the 30th of June and 31st of December, and for the convenience of parties residing at a distance may be received at the Branch Offices, or remitted through Country Bankers. PETER MORRISON, Managing Director. 3, Pall•mall East, London. Forms for opening Accounts may be obtained at any of the Branches or Agencies, or they will be forwarded, post free, on application to the Managing Director. BATHS and TOILETTE WARE. WILLIAM S. BURTON has ONE LARGE SHOW-ROOM devoted exclusively to the display of BATHS and TOILETTE WARE. Tha stock of each is at once the largest, rewest, and most varied ever submitted to the Publie, and marked at prices proportionate with those that have tended to make this establish. ment the must distinguished in this cow try. Portable Showers, 75. ild.; Pillar Showers, 91. to 31. ; Nursery, 13s. to 923. ; Sponging, 14s. to 325.; Hip, 11s. to .11s. id. A large assort ment of Gas Furnace, Hot and Cold Plunge, Vapour, and Camp Shower Baths. Toilette Ware in great variety, from 13s. ed. to 435. the set of three. HEALTHY and LUXURIOUS BED.—The Patent RHEIOCLINE• or, EASY SPRING BED, yields an equal, gentle, and grateful support and rest to all parts of the body, is remarkably cleanly, and so freely ventilated Oat even in long illnesses it cannot become heated or unwholesome, and is indeed for comfort and health superior to the air, water, or any other bed. The " Portable Rheiocline," forming instan• taneously either a settee, couoh, or bed, is invaluable to au in valid. Price EL 10s. WILLIAM S. BURTON'S NEW LIST of BEDS, BEDDING, and BEDSTEADS is NOW READY, and can be had gratis. The quality of beds, mattresses, ac., of every description he is able to guarantee; they are made on the premises, in the presence of customers; their prices are in harmony with those which have tended to make his house-ironmongery establish ment the most extensive in the kingdom. Feather beds German spring mattresses 2 8 0 .. 7 0 0 Patent Itheiocline Beds Horse hair mattresses Wool mattresses .. 0 7 6 .. 4 9 0 Flock mattresses .. 0 6 6 .. ODi 0 Best Alva and cotton mattresses .. 0 6 6 .. 019 0 Sheets per pair .. 0 7 6 .. 2 6 0 Blankets each .. 0 3 0 .. 1 4 0 Toilet quilts Counterpanes Portable folding bedsteads .. 0 12 6 .. 415 0 Patent iron bedsteads, with dove-tail joints Ornamental brass ditto .. 2 10 0 .. 20 0 0 Children's Cots Bedhangings, in every variety per set 0 14 0 10 0 0 !PAPIER AIAC;HE and IRON TEA TRAYS. An Assortment of TEA TRAYS and WAITERS wholly unprecedented, whether as to extent, variety or novelty. New Oval Papier Niche Trays, per set of three from 20s. to 10 guineas Ditto, Iron ditto from 13s. to 4 guineas Convex shape, ditto from 7s. W. Round and Gothic Waiters, Cake and Bread Baskets, equally low. In these Premises, formed of Eight Houses, is on show the nost magnificent stock of GENERAL HOUSE IRONMON GERY, with Cutlery, Nickel Silver, Plated Goods, Baths, Brushes, Turnery, Clocks. Candelabra, Lamps, Gaseliers, Iron and Brass Bedsteads, Bedding, and Bedhangings, so arranged in Sixteen Large Show-rooms as t afford to parties furnishin g facilities in the selection of goods that cannot be hoped for elsewhere. _• lllustrated Catalogues sent(per post) free. No. 39, OXFORD•STRE ET (VI); d, la, 2, and 3, NIMMAN. sritErt . ; 4, 6, and 6, PEUBY'S•pLACE, London.—Entab• nailed 1820. 735 SMITH, ELDER, AND CO.'S NEW PUBLICATIONS. VICTORIA and the AUSTRALIAN GOLD MINES in 18:..7. With Notes on the Overland Route. By WILLIAM WESTOARTI!. Poet bvo., with Maps, price 10s. 6d. cloth. C Now ready. The AUTOBIOGRAPHY of LUTFULLAH, Mohamedan Gentleman. With an Account of his Visit to England. Edited by E. a EAST WICK, Esq. Post Svo , price 10s. Bd. f Now ready. 111. The ELEMENTS of DRAWING. In Letters to Beginners. By JOHN RUSKIN, M.A., Author of " Modern Painters, " Stones of Venice," "Seven Lamps of Architecture,' &c. Crown 6v0., with Illustrations drawn by the Author, price 7s. 6d. cloth. " No student of art should launch forth in search of the blessed island of Havhsel latitude and longitude unknown with out this work as a compass in his binnacle."—Atheneum. " The rules are clearly and fully laid down, always conducive to the end, by simple and unembarrassing means. The whole volume is full of liveliness, extended thought (which points in fifty different directions at once), and pleasant writing—now naive even to boyishness, now gi aye to earnestness, now stately in its eloquent and inciting march."—Spectator. " It will be found not only An invaluable acquisition to the student, but agreeable and instructive reading ior any one who wishes to refine his perceptions of natural scenery, and of its worthiest artistic representation."—Economist. " The most useful and practical book on the subject which has ever come under our notice."—Press. " The student will find abundance of use!til matter, and will follow his guide with safety and real pleasure: '—Literary Gaze tte London: SMITH, ELDER, and CO., 65, Cornhill. Now ready at all the Libraries, in 3 vols., AWOMAN'S STORY. By Mrs. S. C. HALL. " A delightful novel. We look upon this charming story as Mrs. Hall's chef d'reuvre.—Messeirver. Also, jut published, CHOW-CHOW ; being Selections from a Journal kept in !mils, &c. By the Viscountess FALKLAND. 2 vols., with Illustrations. _ _ " Lady Falkland's work may be read with interest and plea sure."—Athena um. AUTOBIOGRAPHY OF ELIZABETH DAVIS, a Balaklava Nurse. Edited by JANE WILLIAMS. 2 vols., 21s. " In this true story of a Welshwoman's life we fancy now and then we are reading fiction by Defoe."—Examiner. LIFE AND ITS REALITIES. By Lady CHATT EItTON. 3 vole BURST and BLACK/TT, 13, Great Marlborough.atreet. In decoy Svo., boards, price 59., INDIA - M A D R A S: Its Condition and Requirements. By JOHN BRUCE NORTON, Esq. RICHARDSON, Brothers, 23, Cornhill, E.C. Second Edition, price Is., rHE BALLOT, a Conservative Measure. 1.. By Sir ARTHUR HALLAM ELTON, Bart., M.P. Second Edition. JAMES RIDOWAY, Piccadilly ; and all Booksellers. AREVISED ENGLISH BIBLE: the Want of the Church and the Demand of the Age. Comprising a Critical Hiatory of the Authorised Version, and Correctional of numerous Ms-Translations. By JOHN R. BEARD, D.D. Price 7s. dd. London: WHITFIELD. Manchester: JOHNSON and RAWSON. SUPERIOR SCHOOL BOOKS. lIQUTI ER'S ETYMOLOGICAL SPELLING BOOK and EXPOSITOR. 209th Edition. Price le. 6,!., bound. BUTTER'S GRADATIONS In READING and SPELLING, upon an entirely new and original plan, by which Dissyllables are rendered as easy as Monosyllables. 48th Edition. Price Is. 641., bound. BUTTEK'S GRADUAL PRIMER. With Engravings. 36th Edition. Price 'id. Simpkin and Co., Whittaker and Co., Longman and Co., Hamilton and Co., London; Oliver and Boyd, Edinburgh. rr H E NA T I U N, the ORGAN of E RISH RIO HTS and IRISH INTEREST-, Is published Weekly at 6,LOW ER ABBE V-STREET,DUBLIN. TERMS: Single copy, 4d.; Stamped, fici.; Six Blonthe, stamped, 10s. Payable in advance. AGENCI ES at thefollowing places:— LONDON. 'MARY ANDREWS, 13, Duke-street, Little Britain. Alsoat Birkenhead, Bradford, Birmingham, Leeds, Liverpool, Manchester Sheffield, Wigan, Edinburgh, Glasgow, and in the principal Townaand Citiesof England OUTFITS FOR INDIA AND CHINA are supplied at the Manufacturers' Prices by THRESHER and GLEN NY, Outfitters, next door to Somerset-house, Strand, and carefully-arranged Lists of the necessary Equipment for Officers, Civilians, Cadets, ttc., may be had on application. TWENTY SHILLINGS PER DOZEN.- DENMAN'S SOUTH AFRICAN PORT. HERM. kN'S SOUTH AFRICAN SHERRY. " Pure and cheap Wines are introduced by Mr J. L. DENMAN. Those who have lived iu Sou h Africa know well the quality of these Wines, and those who do not we recommend to try them:' —Vide United Service Gazette, Nov. 22, 1856. A Pint Sample Bottle of each for Twenty-four Stamps. Bottles included. Packages allowed for when returned. Terms —Cash. EXCELSIOR BRANDY, pale or brown, 15s. per gallon, or 308. per dozen. Country orders must contain a remittance. Cheques to be crossed " Bank of London." J. I. DENMAN, Wiue and Spirit importer, 65, FF . :N.. CHURCH-STREET, Lor.don. Counting-house entrance, brit door on the left up Bailway.place.