The Express.
London, England, 1864-07-20 00:00:00

BANK OP LONDON.-(17118 DAY.)

The seventeenth half yearly meeting of the share
bolder. was held at noon, at the Loud= Tavern, Sir J. V.
au rim, M.P., in the their.
The Sx.ECTARY (Mr. C. J. H. Allan) read the following
report and balance sheet:
"By the annexed statement of accounts which the
hectors have the gratification of submitting it will be
+en that the balance of profit at the conclusion of the past
1, I-year amount+ to 87,575/. Os. 4d. After deducting
lima this ram the current expeeses, nitre of interest on
Els discounted, not u yet due, arid an ample provision for
sl bed or doubtful dthtss, there remains for appropriation
the sum of 59,3211. Se. 3d. The directors declare a divi-
dend at the usual rate of 10 per cent, per annum, and a
bonne of 21. lOs. par share, amounting together to 20 per
c-nt. per annum, both freed income tax, and they bander
to the credit of the reserve fund the sum of 18,0C)1., thereby
:ncroudeg that hied to 130,C33/., the balance, viz., 11,321/.
.4. 3d, is carried to profit and loss account of the current
Lalf-year. The allotment of new shares, the issue of which
vas authorised by the shareholders at the special
rens& meetings of the 9th and 24th of May last,
his been fully taken up, and 39,0301. hex been
received by the bank en account of the first instal-
meet. In recognition of the valuable server rendered to
the bank by the manager, Mr. Marshall, turd the tab-
ruiner, Mr. Allen, the directors have presented the sum
of 1,5011. tolit. Mamba, and 1.0031. to Mr. Allen, both
tresunite haying been paid out of tin roils ei the put half.
nat. The directors who retire= this .mein. an Charles
Jun* Er., Hairy Morris, Esq., and Hebert Porter, Esq.
• being duly qualified, offer themselves for re-elestion., " • and assets, June 3Ct—Dr. :To capital paid
up. 300,0034 ; to amount received no account of new shares,
:51',0001.; to reserve fund, 112,0001. • to amount due by the
bank ea current, deposit, sad other accounts, 4,390,2E101.
Ils. Bd. ; to profit and loos account after payment
of 44,0101. 54. 4d. to elastomers for Interest on
their Warm= 87,5751. Os 4d. ; tots], 5,428,8151. 12..
Cr.: By investments, via. :—ln government secariti=
India Boni% site., 227.8221. Us. 2,i. ; ditto in freehold pre-
muse in Threadardleetreet, Ist at a rental yielding 44 per
cent., 40,0001.; by freehold premise+ in the orapatioe ci the
hank, 25,0031.; together, 75,0301.; by bilis discounted, loans,
4.374,790/.lde. • by rash in hand, and at call, 750.8211.
I,A. Id. ; by lease and buildiags at CWrg-cross Wank
farniturs. &c., 4141. 18s. 94. ; total, 5,428,881!. Me.
" Profit and Loss Account, June 30, 1864. - Dr.: To
ball a year's unrest expenses at head of los and Marin-
er= branch, bad sad doubtful debts, dineton' remuners.
tee, 16.5904 Ile. 3d. ; to rebate of interest on bills
discounted Oct yet due. carried to profit and loss new ac-
count, 11,4631. 2s. 10d. ; to Charingemes branch lease
account, ; to dividend for the half-year at the rate of
IN. per cent. per annum, 13,001. ; to bonus at the
rote of 10 per nul per annum, or 2/. 10a. per share,
; to half-year's interest on the reserve find
at par cent. per annum, 2,2404 ; amount now added
thereto, 15,7601. ; together, 18,C20/. • =lance carried to
profit end loss sew account, 11,3211. Cis. 3d. ; total,
.7.75 t. Os. 4d. Cr.: By baker at profit brought from
let 1,0301. 7st. lid. ; by ditto for current bait-year,
m::441. 13. 101 ; total b 7,6751. Oa. 44.
"Reserve fund soorual—Dr. : To balance, 130,0001.
: By amount from lan half-year, 112.0004 ; by additions
keetht bum. 18,0001. ; fetal, 130,0001."
The Cu.traxas in ineyiag the adoption of the report and
accounts, said he had agate the satisfactioa of congratulating
the shareholders on the position of the bank. Th. deposits
bad nursed from 4,600,0031. in January last t05,400.0C31.
at the end of Jur—an increase of nearly three quarters of
.million. (Hear, hear.) The last half-year was to some ex-
tent exceptional, and he deprecated their beef too sac.
rho, no regarded the future. A dividend of 'Alper rest.
Let be admitted by everyone Sobs every lames°, and it aria
a dividend which the (minden of thebank httle anticipated.
At every halfiearly meeting be had reed= to 000gratu.
Lt. those present on an improvement, and the lest half'
Ye, was the best of all. In ricomeneedieg a2O per
(-mt. dividend the directors bad adhered to their
penciple of looking to the future as well en the
t•'•rnt. He then compared the assets and liabilities in
1••4i with those at the present time, and showed that the
rent dividend was not larger in proportion to the liar.
I and the smount of the reserve fluid than that which
,v declared for the last half year of 1860. By the end of
tie next belt-year the Terrye fond would amount to also=
•'"..a/01., and the question would then arise what
cur sivnld be adopted with regard to farm
;•°tlte• (Hens. I Whenever a monetary crisis should arise,
bank would be found ia a position to meet it in a esti*.
factory manger.
)Ir• .1. S. FRITH. deputy-chairman. wooded the motion.
11e. scorr. City Chamberlain, said a profit of 42 per
•A. rendered it easecenary for shareholders to raise
:, (Hear, hear.)
T'e ',sport was thee adopted, and a dividend at the rate
bat c-ot. having been declared payable on and after
ii+taut, the proceedings terminated in the usual

LOXDON AND_WESTMINISTER BA.VE.

(THIS DAY.)

half-pearly meeting of the proprietors was
at moo*, in Lothbory ; Aldergma Fiicomoss in shy

RITARY (Mr. Trelailian P. Shipp) read the follow-
":••r and balaoos.sheet :
Jirectors have to report that—after making pro-
: y all bad and doubtful debts—paring the income
tatting apart 2,0001. towards the buildings of the
, ..6e net pro6ta of the bask for the kat half-year
to 234,032/. 34. 61. This sum, added to 1A,844/.
A. the unappropriated balance of the preoed-
. 4 ! ".year, will amount to 252,87 d/. 16,. 3d.
iiia amount interest cm the rest or stunk, fund at
'''r of 5 per cent. per annum (6,896.1. its. 7r1.) has been
to that fund, which now amounts to 82,51.521. la. 24.
I;et shareholders are aware, an LlT2Blilina" wn
"..1 into with Messrs. Jones Loyd and Co. for •
'''!tr of their bushman on the 18th A pnl kat. The
including their valuable freehold premiere (at
,".•• 'temporarily need as the country Aloe) is 187,0001.
Irect,irs now declare • dividend to the shareholders at
of air per cent. per annum, and by way of further
out of the prelim, • house of eleven per
eo the paid-up capital. The sum of 80,0001 Th
appropriated is redaction of the amount paid to
J,.nes Loyd and Co. After theme payments
there will remain a baker* of 25,9771. 19a. 10d.
• this amount the directors recommend thatthe sum
• lae. 10d. be added to the ran or earplus fend,
will thou amount to 300,0001. This will lame • be,