The Express.
London, England, 1864-04-28 00:00:00

LONDON AND COLONIAL BANK (LIMITED).
(THIS DAY.)
.•-•....,

The second ordi meeting of the shareholders
was held at nom at the I.oedaa Timm ; Mr. T. IL G LAD-
eV= in the chair.
The report coagratulated the shareholders on the steady
of the bask. The two branches in the Wart
=lava( been amused saes the close of the year,
the may portion of the beak's °pastime which
ea be included is the pesmat otatenient of m-
amma is that coaseMed with their Canadian branch.
The branch at Montreal was opened in July last, when the
*dam capital of the bank amonated to 40,00 W., only bf.
per Aare hairier then been celled up. By the mouth of
I October the sherehoidses were Wormed at the general meet.
lug thee held, that the progress of the branch there was
highly meouragieg. Now the directors are able to report
Qat not only has • sound and reguleily increasing animas
bees estahliebed, but a prolit has been maimed upon
the latter maths the year ma:Mat to cover
all the expenses of the ax mouths, and with
the other meals of the beak to leave a balance
sufilcient for the paymeat eta dividend for the period during
which the branch has been in active working—say from
October 1, 1863. The directors therefore recommend the
payment, for that period, of • dividend at the rate of 5 per
cent. per annum, free of Mama tax, upon the total
capital appeasing at the debit of the bank on the
314 of December, 1863, and after payment of which
aid all other impious, there remains • balance of
2811. ss. 9d., which the directors propose to carry forward
to the present year's scommts. The larger capital since
placed at the dial of Weir branch at Montreal,
them is every ground to conclude, amble the directors to
show • still more profitable maws on the business done
there during the present ; the greater part of the
profits on the small capital hitherto at dimosal, having been
aboorbed in tie exegesis of the breach.
The CEArltlierr, in amity' the adoption of the report and
meow* mid, at the meals( is October last full explana-
tions were ppeen of the position sad prospects of the Maks
sad the were sow placed at • disadvantage, in
Main to report only respect* theoperations up to the end
of the year. There ass about 4.8004 divisible out
et the half-year's workag ; that sesount having been earned
in Canada atom, aid resultieg from the use of a capital of
less thee 40,0001. et Mestreal. The wedding espouser in
Canada would sot be Maremed, it was by the la-
ciness of capital ; and at the present time the =aster at
Montreal had two or three times as mach espial to work
with as be had in the last half-year. Duties the first
two or three months the osmoses banally exceeded
the profits, and......petty the 4,8001. was earned within
about the same pasted of *ea The beach at Jamaica
bed been opened wader mast favourable circumstances. A
tank had aloe beau established in Trinidad, Lod • gentle.
men, who wee well amasiated with that island, had
recently informed him that frees the besieges there aloes the
shareholders might removably expect • dividend. The Dam
bleaches saw in operatics afforded opportunities for a cm.
adorable development at bask* operations. Ile then con-
gratulated the meeting on the improved position of the
shares in the market. sad declared that the bills which had
come before the hoard thus far wen of smelling character.
la reply to s emotion,
The Cranium stated that the board did not rely entirely
on the ~sager is Camara, am accountant having been sent
out fres Loodee,ta whom the beard felt the same mafideace
that they did in the manager, sad through whose hands all
the sairmate emesioribr peen&
After some dimwit= the report was adopted, and the
promediap terminated in the meet manner.