The Express.
London, England, 1852-12-07 00:00:00

BANK OF AUSTRALASIA.

Yesterday, the half-yearlymeeting of this com-
pany took place at the offices in Austinfriars. Oliver
Ferrer, Esq., tuck the chair. The report was as follows
4. The directors have the pleasure of congratulating the
proprietors upon the statement of the affairs of the corpora-
tion, which they are enabled to make is anticipation of the
usual report to be presented at the next minuet meeting in
June. The advice, from the colonies continue satisfactory,
and indicate unintetrupted prosperity. Amidst the sur-
prising discoveri.i of gold, and the prodigious increase con-
sequent thereupon in the commerce of Australasia, any tem-
porary disorgauisation which oily have been caused in the
operations of trade and agriculture will, it is hoped and ex-
, perted, be speedily remedied by the great tide of eniigra-
tiou which has set in, and still flows towards these colonies.
e statements presented at the last annual meeting were
ried lii,Mll to the day or the yearly balance, namely, the
1;, aof o,::ober, 1831. The accounts received very soon
after that io sting induced the directors to increase the rate
of the last October dividend from live to six per cent. ; and
them which have since come to hand enable them to de-
elate their intention of paying, in addition to the next
April dividend of six per mot., a bonus of twenty-four
shillings per share, making a payment for the half-year
equal to twelve per cent. per annum, free of income tax.
The directors have frequently intimated the necessity of
establishing a large permanent reserve fund ; and although
not yet able to state the amount which after the inteaded
division will remain applicable to that object, they feel con-
fident that the profits realised up to October last will pro-
vide not only fur tne next April, but also fur the following
October dividend and bonne at the above rate, and further
leave a surplus which, though not sufficient for the comple
thin of the reserve fund, will exhibit such an amount as
under ordinary eircumstarem could only have best a the
result of several years of prosperity.' —The Chairman
alluded to the prosperous circumstances under which they
now met compared with furim r .imes. He was happy to
my that the business of the bank in the colony con-
tinned as great and prosperous as could beexpntedunder the
circumstance!, the deposits hoeing largely it ereased, as well
as the securities held by the bank to coveradvances. lt would
be satisfactory for them to know that it was the opinion of the
directors that the profits up to last October would provide
not only for the next April, but also for the following
October dividend and bonus at the rate now agreed to.
(liver, hear.) The chairman having alluded to the great
profits derived by the bank acting as agents for the
colonists in various way., moved the adoption of the report.
—74 r. J. Wilson seconded the motion, which was passed
animously--A proprietor asked how the new ingot
' w worked ?—The chairman replied he believed very well
as fax as their manager was concerned.—A proprietor asked
if there was any possibility of their smalsantating with the
Union Bank of Australia, as as my wow ashames were
coming into existence.—The &aim= AM not think it
accessary. This board was on amass& War with the
directors of the Union Bank of anleriaill. Sid who knew
of their proceedings. As to the view he timed
there was room fur them likewise. The eupswi solsg bass
adopted the directors wen, voted their hal amosat of paw.
The meeting then adjourned.

SOUTH AUSTRALIAN COPPER MINING COMPANY.—
Yesterday a meeting of the sharelsolden of this company
was held at the offices in Gracschurch-street, fur the per.
pose of receiving the report of the committee of investiga-
tion ; adopting rules and regulations on the cost-book prin-
ciple; electing • new committee, as • board of management;
appointing a purser, or managing director, and tiling the
amount of his remuneration. Mr. 8. Armitage, who occu-
pied the chair, having explained the reasons for the lip,
pointment of this committee of inquiry, said that all the
debts and liabilities of the company were settled. The
whole of the preliminary expenses did not exceed 1,0001.,
which was c‘tremely low. Ile did not wish to say all he
thought of their prospects, but he might observe that he be-
haved the speculation was so hound that, if properly
manager, it would give a dividend in • very
short time which would surprise the shareholders.
Mr. Fullerton then read the report, which stated that
the expenses had been kept very low, and the accounts
well managed; that the specifications for engines, *e., had
been examined, and the whole were now ready to be sent
out. Arrangements were made for the shipment of
machinery and miners. The report concluded by ex-
preeinag the unabated confidence of the committee in the
undertaking. The retort was unanimously adopted, as
was also the engineering report of Mr. newt. The follow-
ing gentlemen were appointed as the future committee :
Mr. Armitage, Mr. Croft, Captain Ingletield, Mr. Long-
cloee, Mr. Thompson, and Mr. Webb. Mr. Armitage was
appointed miner. Trustees and auditors were also
appointed, and the meeting separated.
A HOUSE AND ITS INRATEs HLOWN.EE.—A short
time ago a Mr. Gibson, of Dunearudensuir, Ayrshire, most
incautiously placed about 35 lbs. of gunpowder near the
tire to dry, when • spark from the fire ignited the whole
macs and Alt w up the house, and severely injured several
of the inmates. Mr. Gibson died shortly after the acci-
dent, attd Mrs. Gibson died on Tuesday morning from the
same cause.—Scolawni.

SOUTH EASTERN RAILWAY.--Grosu traffic reeeipta
for the week ending Dee. 4, 1852, 11,103'. 4s. 2d. ; ditto,
Die. 8, 1861, 10,0241. Os. 2d. Increase in 1852, 1,0791.45.
THE RAILWAY ACCIDENT AT HUYTON.—The ad-
journed inquiry was again proceeded with yesterday at the
Queen's Arens, Hoyt°. Station, and the ezentin.ttion of
wireless wee processling when our parcel was despatched.