The Express.
London, England, 1864-02-09 00:00:00

£&168 1S 10

B&Loee he tavoar of the tont.

Mr. Burros made an application on behalf of Mr.
Howell, late clerk in the London and Middlesex Bank,
that he might be permitted to be represented at the
meeting.
The CHAIRMAN, under the adtioe a Mr. Taylor), the
solicitor of the nompany, decided that he could not permit it.
The CULLMAN said that the report aud amounts now
presented were baton aid eousistent with the utmost in-
tegrity• (" No, am" " Far from it.") Not the least loss bad
ocoured to the bank from the direoton, or any of the friends
introdeoed by the directors, with one trial:mg exception.
He said this because as an alderman of the city of Leedom,
he should be ashamed to appear before them if every trace.
anion with which he was connected could cot bear the
strictest investigation. (Hear.) The directors were not aware
of any inegithinties on the part of the staff. The accounts
now presented were unaudited acoounta, but they would
Designed by a public accountant. He had himself paid
out of hie own pocket little short of 20.0001. on account of
the bank. They would km the 10,000/. which was to have
beat mid by the Lapdogs and Middlesex Bank. (Oh oh.)
He believed the directors of that leak were men of mok
honorable character that they wo&d come out is • proper
pentium Bat they would lose 10,0001. He was sorry
for it, he would be entitled to 2,0001. of that 10,0004
It appeared that the contract entered into with the London
and Middlesex Bank was to the effect that they would soli
be entitlid to receive the 10,0001. till the London and Mid.
Mese: had divided rim per east. They bad not divided tin
per cent., and the opinion of Sir Hugh Cairns was that they
wen not entitled to the 10,0001. Such was the position of
offairs. He had now to move that the meeting be adjourned
till the 1100011114 were audited.
Mr. PsocrEN attar setting forth the antecedents of the
beak, said there ought to be an investigation by a commit-
tee of shareholders of the extraordinary tiansectices which
were hinted at but not explained to the shareholders.
(Hear, Mu.) He did net impute any want of integrity to
the directors, bet there appeared to be a gross neglect of
management. (Hear.) The eubncribed capital of the bank
wee 180,0001. Out of this was to be deducted 32,6481.
for preliminary expenses ; 311,1791. loss on bills dies
coasted under the management of Mr. Chambers and Mr.
Baylis; 645,1004 loss on bills discounted since; !.,3781.
writeen off to the account of the London and
Bank, end 29831. expenses which mental time the tenni-
' nation of the business of the bank, making a total of
133,7001. to be deducted from the 180,0001. capital. There
would rennin about 30,0001. to be returned.
The Outwits —I think 40,000/.
Mr. Paocrut concluded by moving the appointment of a
I committee of is...ligation.
Mr. HiPCII ure9sclad the rootino.

Mr: Tar;iit said thatTfieamendment could not be pet at
that meeting, which wee an intraordinary or. The object
of Mr. Procter could be carried out at a front meeting.
Mr. Sorra aossidered that the redact of the directors
wee pregnant with 'aspires and deroptery to their dia.
meters. (Hear, hear.)
Mr. BELL said that he was dissatisfied and disappointed at
the maaagenseet, in which he at one time had great mind-
dame. (Hear.)
After some angry diremmioe and personal &Harlow the
properties of the Chairman wee accepted, on the ender
standing that the auditors, seven in number, were to be
nominated by the shareholder. Mr. Deputy Bower said
be should resign his art os the board if Dr. Cook wee ar
pointed one of the directors, and on Dr. Cook
being named, Mr. Drat Bower retired from the messing.
8 rveral of the bore testimony to the borer-
able character and redact of the Chairmao, to whom a vete
of thanks was pried.
The meeting was adjourned till the third Tuesday ia
March, with the optics of calling it earlier.

THE LONDON AND NORTHERN RANK
(LIMITED).-(THIS DAY.)

This afternoon the first ordinary meeting of the
shareholders in the shove bank, was held at 2, Bank-build.
lap ; Mr. Been. T. WOODD, M.P., in the chair.
The followiag =ad balanee-sheet were submitted to
the meeting sad
" The directors have now the pleasure to submit to the
shareholders the first statement of the affairs of the bask,
from the commemeniest of business—At Newcastle, on 2nd
Petonary ; lords, ea 16th March ; Huddersfield, on
13th April ; Norpeth and Ala wick, 9th September ;
to the 31st of December, 1863, from this it will be own that
the net profit, after payment of all comet expellees and
milking provisions for bad and doubtful debts, amounts to
3,1721. ILL 10d. This sum shows a profit equal to 10 pee
mat. as the paid-up capital, during the above Let
the directors are at opuses that the interest orethrtd;MlPP
Wain will be better maintaieed by the distribution' of this
balsam as gives below, than by the paymest of a dividend.
Amount carried to reserve fund, 2,0001. ; amount carried to
Cl7aked:: arrest amount, 1,1721. lls. 10d.—total.
2/. Ils. 10d. Ehgble premises have bees secured at
for the oposim of a Wawa at an early dale,
where the directors attic:irate a huge sad profitable bant-
ams. The directors have pleasure In sekaowledgiag the
emirlosy and 'dodoes' they have received in the course of
business from the older banks, in the tower where breeches
have been opened. Jolla Destoe, Fiq., and Thomas Coll*
Pam., directors, retire in accordance with the articles el
aneociatioa, but being eligible for re-election, offer them-
selves woordingly. The &editor, also retire at this meeting,
and are eligible for mappoietnissit.
" Belanoeshost.—Dr. : Capital, 84,095/. • comet de.
Mitadother account, 135,2001. 6a. 4d. ; outstanding
es on drafts, he., 14,6801. fa. Bd. Prop and tom
wimant—latoreet 'waived. 11,8831. lls. fid. ; 'Merest
paid, 4,614/. Os. Bd. ; 7,2691. 10s. Bd.-241,1541. 3e. Bd.
tr. : Bills discounted, loam to customers, to 202,0101.
Es. Bd. ; stomps on band, 2651. Bs. fid. ; lame of pandese,
sod furniture, at London °fame sod broaches, and pm-
' linituary expanses, 13 9s. Id. ; comet expense sad
allows's» for bad and doubtful debts. 4.0961. 18e. 10d. ;
cash in Mad, 21,1211. la. 7d. ; total, 241,1611. 3s. fld.
" Profit ad Loos Aoeount —To current expenses at Idea
don office and 'wenches, and allowance for had and &Debt-
' ful debts, 4,0961. les. 10d. ; to mown earned to memo
fund, 2,0001. ; to amount written off preliminary expense
woreast, L 1721. Ifs. 10d. ; total. 7,269/. 10a. fid. By
ba/wee profit sad lees escoent, 7,2691. 10s. Bd."

SNOW STOINL-Bnow fell in heavy showers on
the Northeabselandl coast ow Beeday, sad was lying three
teaks* thick is ems parts of the smutty. Between 1 sad
2 o'eleek on Bseday aftempoe a sharp thunderstorm crossed
the soothe= portion of the musty. At might the sky had
the appeases°, that there was likely to be more snow.
There was not each vied.