The Express.
London, England, 1863-07-16 00:00:00

BANK OP LONDON.-(THIS DAY.)

The half-early meeting of the pmprietors was
held at one o clock, at the London Tavern ; Sir J. Seam,
M.P., in the clam.
The following report and halane-sheet were presented :
.•

By the annexed statement of accounts which the di-
rectors have the satisfaction of anbmittiog, the shareholders
will perceive that the balance of profit upon the operations
of the poet half year amounts to 53,8671. Is. 6d.
Out of this sum the current expenses of the
establishment' have been defrayed, and all bed or
doubtful debts fully provided for. Reserving also rebels of
interest on bills discounted not yet due, there remains for
appropriation the seen of 33,601. 15e. 411. The directors
apply 15,00/. to the payment of a dividend at the rate of
101, per cent per annum, fon of income tax, and they
transfer 18,CC3/. to the reserve fend, thereby increasing
that fund to 10,0001. The balance, viz., 603/. 15e. 4d., is
carried to profit and lose accouot of the current half-year.
The directors retiring on this occasion are Sir John Shelley,
Bart., M.P., Colonel Elery, and Thomas Gooch, Eeq , who,
being duly qualified, offer themselves for re-election. The
directors regret to announce that Mr. John Johnson has
been compelled, in cousequelice of continued ill health, to
resign his seat at the board. Mr. Henry Ante, a duly quell-
&d shareholder, has given notice that he is a candidate for
the vacant seat. The dividend will be payable on and after
Thursday. the 23rd July.
"Liabilities and Assets, June 30,-Dr.: To capital paid
up, 3C.),t )oi. ; to reserve fund, 82.CC3/. ; to amount due by
the bank on current, deposit, and other secant:ea, 3,920.1_ .13/
Oa. I Id. ; to amount carried to credit of profit and loss
account, 76,9521. 7s. 111. ; less amount paid to cus-
tomers for interest on their balances, 23,085/. 6s. sd. -
53,9671. le. 61. ; total, 4,355,9801. 2e. sd. Cr.: By
investments. viz. : In government securities, India bonds,
&c.. 213,879/. 13t. 84. ; ditto in freehold premises in
Thresdne Nile-street, let at a rental yielding 4. per cent.,
40,CJ0/. ; by freehold premises in the occupation of the
b-uk, 35,1:301. ; together, 75,00.11. ; by bills discounted,
loans. 3,515.7611. 17e. ; by cash in hand, and at call,
550,563/. 3s. ; by lease and buildings at Charing-cress
branch, furniture, &c., 814!. Be. 9d. ; total, 4,355,980/. 2s. sd.
" Profit and Loss Account.-Dr.: To half a year's current
expenses at head office and Charing cross breach, had and
doubtful debts, directors remuo era doe, &c., 1.:,713/. 124. ;
to rebate of interest on bills discounted set yet due, carried
to profit and loss new account, 6,314/. 14s. ; to Charing-
craw branch lease account, ; to dividend for the half-
year at the rate of 10!. per cent. per annum, 15,0001. ;
to !WI-year's interest oo the reserve fund at 4/. per rent.
per annum. 1,640/. ; amount now added thereto, 16,360/. ;
together, lAs0:•:;11. ; balance curried to profit and loss new
account, 6061. 154.4 d. ; total, 53,8671. la. 6.1. Cr.: By ba-
lance of profit brought from last half.year. 2521. Is. 10d. ••
by ditto for current ball-year, 53,614/. 19s. 811. ; total,
53,8417/. le. 6/1..

~'• Reserve Food Aoronot.—Dr. : balance, 100,0001.
Cr. :' By amouot from last half-rear, 82,0001.; by additions
brought down, 18,C00/. - ICI,OO/."
The CHAIRMAN, in moving the adoption of the report
and aceouiits, cougr itulated the proprietors on the innings-
ing business r,f the bank. Ho all, d that at the outset it
wan very wisely drteroined not to .li/ride more than 5 per
cent. [lntl the renerre fund reacliel 50 022/. That amount
having horn obtaiurJ, it was resolved not to divide more
than 10 ler etnt. till the reserve fund rearhal ICJ,OOO/. ;
and as it had now done no. and the 'oiliness of the hank was
gradually progreasing, the proprietors might fairly look for-
ward to iocreional diviileoria.

The report was adapted unanimously end • dividend at
the rate of 10 per cent. per annual declared.
The retiring directors were re-elected: sod Mr. Aide,
one of the auditors. h iving been electel a director, Mr. C.
Bone, common councilman of the City of London, was
chosen to till the vacancy.
The proceedings terminiited with the customary votes of
thanks to the directors nod the Whiten of the biog.