The Dorset County Express and Agricultural Gazette.
Dorchester, Dorset, England, 1871-03-07 00:00:00

PROVISIONS, MONDAY.

- ---- -
Butter, Irish dull at four to six shillin.:e
reductiqu on the week. Friesland also easier at
1404 t 1475. Regular supplies from France
ar, new expected. Bacon more inquiry, at one
t o shillings reduction. Hams, the demand
for France having entirely subsided, and very
limited demand for home consumption, prices
are again easier pork live to seven shillings
cheaper on the week.

WILTS AND DORSET BANK,

We understand that in conserience of the preearious
state of health of Mr. Chubb, which has been &alining
ter the last year or two, he has asked the Diri.ctora to
relieve him, in the course of a few weeks, of the mere
active duties of the whoa of General Manager, which he
now finds too onerous and severe to continue to die.
charge. This they have reluctantly consented to do,
bet being most desirous of retaining the advantages of
his great experience. which the service of no many
years—nearly the whole of his life—has made very
saleable to the interests of the oonapany—and loaking
at the prosperous isondition of the Bank of late yeti-s—
-ae directors have expressed a wish, and they feel
assured it will be endorse I by the sharcheiders
generally, that he should accept a scat at the Board as
an Extraordinary Director, and havo elected him
accordingly, so that he will take the same interest in
the bank as heretofore.
The Directors have appointed as Mr. Chubb's
suesessor Mr. W. 8. Fussell, who for many years has
lilad the post of Chief Inspector, a situation of greet
responsibility, and which has necessarily made hire
sequalatad with the business of the Bank at its various
branches. Mr. M. 11. W. Devenish who for some
years hag discharged most satisfactorily the duties of
Aseletent Inspector, has Wen appointed Assistant
Geoeral Manager.
In accordance with an intimation given by the chair-
men at the last annual meeting, we find that the
directors purpose to devote more time to the board
'meetings at the head office, which was well recei•mi
aid suitably acknowledged by the shareholders prase t,
the largely increasing business of the company r, n
leg a longer attendance on their part necessary, and we
Uwe no doubt the arrangement will in every respect
facilitate the management of the affairs of the 00111-

pany.
While on this subject we would direct the attention
of our readers to the following article on this bank
which appeared in the last number of the lielioniel
"The directors ssf this flourishing enterprise have
lately preeented their thirty-611h report to the pro-
prietors at Salisbury. Although the last unfavourable
harvest had seriously effected the formers' balances,
the coedits from other SOUITt'S had been sufficient to
maintaie the total of deposits at about the same stan-
dard as OA the last occuion. The profits hive been the
largest ever realised, and the dividend of the ye ar 1870
Is the highest yet paid, being altogether 22 per cont.
upon the paid capital. The company (sin possese of
39 establishments, spread over the five counties. At
the invitation of inhabitants of Southampton, the
directors were induced to open a branch in that town
In 1869, which we understand has been very aucces.ful.
The current charges for the maintenance of ti-se
numerous offices during the past year were £21,361.
The freehold and leasehold premises tenanted by the
bank at these various stations stand as an Investment
for £36.000, Increasing business naturally oilli for
Increase of room, and the branches claim cnitinual
attention to provide conveniences is they may be
called for. A new and elegant head officio w,s com-
pleted a little more than a year ago, the annual meet-
ing of 1870 being the first held in the new building.
The constituency of the bank is not entrly drawn
from the agricultural interest, or the balance sheet
would not probably have been so favourable on the
present occasion. At towns like Sherborne, Yeovil,
Trowbrkice, ani Frome, there is something of menu-
tectufmg industry, and at Poole, Bridport, Weymouth,
and ether coast towns a shipping and fishing business
exist,. These contribute different elements, so that
the falling off in one branch of trade will be comp m•
sated by the prosperity of another, as the net,' ,tioo
of women» bring about mutual exchanges of fortune.
Wherever the Wilts and Dorset Bank is etablialied it
is in high favenr,land enjoys the unbourided omineuce
of the whole district, which trebly metres. No bitter
foldouts of this well-earned credit can be given than
the figures of the balance sheet. With a paid capital
of £200,000, there is a reserve fund of £103,112, or
upwards of 51i per cent., whereas ordinarly a reserve
of 20 per cent, in considered a fair amount. The deposits
reach a large amount Ten years ago they were
C 1,449,963. Flea years ago, In 1865, the total was
1,663,412. Before the next balance was made up, the
memorable panic of 1866 had occurred. The effect
here was no increase the deposits to £1,771,474. At the
end of 1870, the figares were £2,025,268. In each case
there is a farther amount due for interest, whish in
most bank statements Is incladed with deposits in the
same total- That sum Is now £20.859. so that in reality
the liability to depositors la C 20,46,127. The bank has
unauthorised circulation of £76,162. The Witte et notes
has sometimes execnided this limit, but at present is
£73,367. The capital was increased by the issue of
£5,030 new shares In 1866 to Its present amount. The
hone was at £7 premium, proceeds going to built up
the reserve fund. Dividends for four yesri h‘ve been
—lB7O, 22 per sent.; 1869, 21 per cent.; 186 e, 21 ii-r
mat ; 1867, 21 per cent. The dividend of 1861 was 19,
end of 1863 and 1166 each 21 per cent. The capital Is
divided late £lO,OOl shares of £l5 each, of which £lO
Is paid up. and the present market 'prioe is £37 to
£37 134."—Salis6ncry Journal.