The Express.
London, England, 1863-07-06 00:00:00

UNION BANK OF AUSTRALIA.-(THIS DAY.)

The annual general meeting of the shareholders
was held at one o clock, at the offices, No. 38, Old Broad-
street ; Mr. BUCELLZ in the chair.
The report stated that the operations of the bank
and all its branches daring the past year had been of
a very satisfactory character. Commercial and pastors'
pursuits in the colonies indicated a steady advance
in general prosperity, and there had been a marked absence
of those violent fluctuations and consequent diameters which
had called for observation in previous reports. The business
of the bank during the peat year required a gradual
transfer to the colonies of a considerable portion of
the funds which had been previously accumulated in
London. This transfer arose chiefly from the
extension of business in Queensland and New Zealand. and
is some degree also from the removal of deposits, because
the board did not think proper to continue to pay a high
rate of interest—a system the policy of which they had
always disapprove. The profits of the peat half-year
enabled the directors to recommend a dividend of 8 per
met.

following balance-sheet was presented :
`Liabilities.—Circulation, 4918621. lOs. ; dimwits,
2,379,9321. Ba. 7d. ; bills parable and other liabilities (in-
cluding reserves bald against doubtful debts), 1,978,6T31.
Os. 7d. ; balance of undivided profits, 88,8711. Bs. Ild. •
reserve fund, 200,0001. ; capital, 1,000,000/.—total,
6,139 0991. Bs. Id.

Leeta—Specie on hand, and cash balances, 899,3871.
17s. 10d.; bullion, 43,0421. se. Id.; bank premises and pro-
perty, 91,1981. 7s. 4d.; government securities (British and
colonial), 203,7521. 15e.; local hills, bills receiiable, and
other securities, 4,701,7231. 2s. 10d.- reserve fund, invested
as per statement, 200,0001.—total, 6139,099/. Ba. Id.
" Statement of Profits.—Balance of undivided profits at
30th June, 1862, 74,9971. 6s. 9d. ; out of which a dividend
WAS declared of 70,0001. ; leaving a balance of 4,997!. 6.. 9d.;
profits of the past year, after making provision for all bad
and doubtful debts, 264,0791. 13. 3d. Less : Remuneration
to the local directors, and salaries and allowances
to the colonial staff, 53,9571. Is. 3d. ' • general
expenses in the colonise, including rent, taxes,
stationery, te., 24,9194 4e. 2d. ; amount applied in reduc-
tion of bank premises account, 4,735/. 17s. Id. ; remunera-
tion to the board of directors, salaries of London office staff,
rest, taxes, stationery, and general expenses, 10,2961.
11s. 7d. ; income tax paid, 4,294/. Itis., making 100,205/.
10a. Id. ; total, 163,874/. 2s. 2d. Deduct : Dividend paid in
January, 80,000r.' leaving 83,8741. 2s. 2d. ; balance of un-
divided profits at this date, 88,8711. Bs. 11d.
" Reserve Inert —New Three per Cents, 50,000/. ; New
Zealand Imperial Four per Cent. Debentures, 130,6110/. ;
total, 260,000/." . . .

The CHAIRMAN, in moving the adoption of the report,
observed that the profits exceeded three of the previous
year by 20,000 f., enabling the directors to pay a dividend for
the year of 16 per cent., while that of the preceding year was
only 14 per cent. That was the twenty-fifth anniversary
of the bank, and its position bad never been
more satisfactory. In the management of the business of
the bank caution was the first consideration and profit the
second. (Hear, hear.) They had in their present inspector
io the colonies, and in the managers generally, officers in
whose judgment they were justified in placing the greatest
reliance. (Cheers.)
A SHAREHOLDER 11111 glad to hear the chairman my that
caution was the first consideration of the board. Formerly
that did not appear to bare been the ClllO. He hoped the
dividend would never again come down to 12 per cent.
Another SHAREHOLDER asked for explanation with regard
to a paragaprh in the news from Australia statiog that Mr.
Moon, one of the managers of that bank, had been tried and
acquitted.
The CHAIRMAN in reply, stated that Mr. Moon was tried
at the inutance of the bank, but that there was reason to
believe that the back would sustain no lose. The trial was
for a defalcation of (160/. in a customer's account.
The report was then adopted, sad the retiring directors
were re-elected.
A dividend of 21. per share, or 8 per cent. for the half
year was declared payable on and after the 14th instant.
iThe proceedings terminated with a vote of thanks to the
dm-tem

CHRIFIECHIIRCEI REZA'. TREAT.—This day the
Rev. Joseph Brown, rector of Christchurch, Surrey, with
a committee of ladies and gentlemen, and hundreds of poor
Wiahiooers, had their annual trip to Chislebarst, %mit.
The smiling faces of °Mead yaws, rich End poor, were a
pattfyiog Bight, the treat through the rev. gentleman sad
!is friends having been obtained cm a low tariff.
WASERIOCS ACCIDENT TO A VOLUNTEER.—On Satur-
day afternoon last a miens accident *marred to a mom of
the :tad Middlesex Volunteer Artillery. It appears that •
detachment of the corps was engaged at gun drill at the
battery in the government practise range, Platurtead, and
daring the evolutions the unfortunate mu had one of his
Irt severely crushed. sustaining such Injuries that home-
aiaie amputation of the both wee rendered secessary. The
rester war removed to the Royal Ordnance Hospital.

I.ck..
t 143

Osta
Bsn
Wqrs. qrs.". II".
all qrs. !Para I brii.
r
English all
. . 4.374 174 13293 466 443 69, ..
foreign .. 21907 6061 . .... 14611 41321 1339 33640 1299
-I-,
T0ta1.... 26,41 I 6276 11293 16067 16264 1 1408 33648 13792

LIVERPOOL COTTON MARKET.
(THIS DAY.)
(IT KLICTRIO AND INTCRNATIONAL TBLIGRAPR.)
(FROM OUR OWN OORIUMPONDEST.)
Market for cotton steady, and tranuetions will probably
foot up 5,000 balsa.