The Express.
London, England, 1863-01-14 00:00:00

UNION BANK OP LONDON.-(THIS DAY.)

The half-yearly meeting of the proprietors was
held at Boos, at the beak, Primes-et/yet, Mr. P. NORTHAM
LAMM in the chair.

The following reiort and balance-sheet were read b 7 the
flenterrais (Kr. Henry Newmarch) :
"The directors have the pleasure to report that
the net profits for the six months ending the 31st
December but. after payment of all charges Uncle*,
the sum of 49,0911. 14.. sd. for interest paid and des to
customers on their arrest and deposit accounts), and
making ample provision for all bad and doubtful debts,
amount to 67,2391. 3a. Id., which, with she sum of 2,9821.
117 e. 9d. brought forward from 30th June last, make together
70,222/. Os. 10d. The directors now declare a dividend of
16. per share, clear of income tax, for the six months ending
31st December last. After payment as above, amountiag
to 45,0001., there will remain a balance of 25,2221. lb. 10d.,
for appropriation at the end of the financial year in July
next.

General Balance—Liabilities—Dr. : Paid-up capital of
the bank, 720,0001 ,• dm by the beak on current accounts,
deposit receipts (including interest seemed), and other obli-
gations, 12,878,355/. sa. 10d. ; reserved fund, invested in
Consols, se per contra, 50,0001. ; rebate on bills not dm,
14,705/. 19a. Bd. ; balance at credit of mofit and
lose, 70,2221. Oe. 10d. ; total, 13,731,183/. 6s. 4d.
Aosta—Cr. : Cash in the bank, 521,3701. &. 11d. ; cash in
Bank of England, 514,7131. 5a.; cash lent at all, 1,065,000/.;
together, 2,101,0631. lls. 11d. Investments in goverment
stock, Exchequer Bills, Debeoturea, /cc., 896,9321. 5. 7d.
53,7271. 6s. Bd. Consols (taken at 93) renewed fund,
50,0001. ; look premises, consisting of freehold buildings in
Prince-street, Kansion-homeetreet, Aran-Awe, and
Fleet-street; and lease and fixtures of No. 4, Pall-mall East,
108,7751.4 a sd. ; loses, bills discounted, he, 10;574,4921.
4e 53. ; total, 13,731,2831.65. 4d.
" Profit and Lose Aooount.—Dr. : Amount of dividend at
15e. per share 45,0001. • balance, being undivided profit
carried forward to next half-year, 25,222/. Os. 10d. ; total,
70,2221. Os. 10d. Cr.: Profit unappropriated on 30th June,
1862, 2,982/. 17s. 9d. ; amount of net profit of the half-year
ending 31st December, 1862, after deducting all expenses,
and interest paid
.and due (49,0911. 14s. 5d.), snowed to
customers on then current and deposit account, 67,2391.
31. ld. ; total, 70,2221. Os. 10d."
The CHLIRMAN having declared a dividend of 15e. per
share clear of income tax, payable on the 20th inst., observed
that the pad half-year waa the first half of the financial
year • and he was glad to find from the manner in which the
report bad been received that it was as satisfactory to the
proprietors as it waa to the board. The assets were
1,000,0001. in moms of those of this time last year. and
1,500,0001. in exams of those of six months
ago.
the high egrerimstion wa in
nhich the bitutk contiunnutia
to held by the public. InmcoOrsideciog the profit' they
must not forret the low rate of intend which had recently
ruled. The bank rate of interest in the second half of 1861
averaged 41. Ia percent., while in the corresponding period
of 1862 the average was only 21. 9e. The losses
bad all been written off, so that the etatement of account
was a clean sheet. (Chem.) Adverting to the grant of
1,0001. from the bank for the relief of the distress in Lan-
cashire, he remarked that the board considered it due to
those who had borne their sufferings with so much fortitude.
He believed that in the dark cloud in the North of England
there was now a silver lining. He must say that he thought
great credit was due to the prom for the frequent warnings
which they had given with regard to new undertakings.
(Hear.) As respected the new schema for establishing joint
dock banks, he hoped that those who lent their names to
those schemes would feel that there was something beyond
moms to be looked to—that a great moral responsibility
rested on bank directors. (Hear, bear.) The failure of one
badly-managed bank would do more harm than the success
of two welloanaged banks. (Hear.) The extensioa of the
business there had rendered it necessary to extend their pro-
misee ; and for that purpose the board had secured a renewed
lease of the adjacent premises of Sir John Lubbock's beak.
He concluded by moving the adoption of the report and
amounts. _ .

Fmnicilsik depaty.ch►irman, seconded the
motion, which without any previous discussion, was put and
carried unanimously.
Mr. Mawr expreseed his extreme satisfaction at the
♦ prosperous position of the bank, and moved a vote
of thanks to the board of directors.
Mr. ANDIRTON seconded the motion.

A Suanitiomorn observed that some of the directors were
concerned in some of the new joint stock banks and asked
whether that was not contrary to the regulations of the
' establishment. They ought to oppose, not support, the new
banks.

The Mamma.' thought the hon. proprietor did not draw
the distinction between new banks in the metropolis and
new banks for the purpose of carrying on bankinf business
in the colonies. With some of the latter certain of the
directors were connected, and the accounts which came to
them through those banks were amongst the most valuable
they bad. (Hear, hear.)
The motion was carried by acclamation.
Mr. ANDCRTON moved a vote of thanks to the manager,
Mr. Scrimgeour, the other managers, and the secretary,
which having been carried,
Mr. SCHIMGEOCII returned th.nks, and expressed the hops
that the July report would be even more favourable than
the present one.
A vote of thanks to the chairman concluded the pro-
modings

31 ILITLEY EXAMINATIONS.It has been decided
for the future strictly to confine the half-yearly
competitive examinations for admission to the
Royal Military Academy, Woolwich, to the object
for which they are intended, and henceforth none
of the competitors will be regarded as qualified for
commissions in the line on account of the examina-
tion they may have undergone in endeavouring to
obtain admission to the Royal Military Academy.
The same rule will also apply to the competitive ex-
aminations for admission to the Royal Military
College, Sandhurst.
Foar.unt-omcs, Jaw. 13.—The Queen has been
graciously pleased to appoint the following gentlemen, sow
attschr,s at the places undermentioned, to be Third Secre-
taries in her Majesty's Diplomatic Service; Christian William
Lawrence, Esq., Madrid ; James George Ferguson Russell,
Erg.,l2.—The
Berlin ; Frederick Antrobalsq.Paris.--Gazette.
WHITEHALL, JAN. queen has been
pleased to present the Reverend Peter Neil Macirichan to
the church at Lochgdphead, in the parish of Gleamy, in
the presbytery of lnverary, sad shire of Argyll, vacant by
the transportation of the Rev. John Stewart to the charge
and *Sloe of Third Minister of the united pariah of Inverness
and Boas.—Garrett.

oROWN-OTFICE, JAN. 12. —MEMBIR RETURNED
TO SERVI IN THI PRINZ= PAILIANINT.-Sir alward
Chaim'ley Dein& Bert., for the Eastern Division of the
county of Kent. in the room of William Deedea req.,
deoneed.—CM:rfre. _ _ _

SrAmin! CUSTOMS Dtrries.—Board of Trade,
Whitehall. Jan. 13.—The Rt How. the Lords of the Com-
mittee of Privy Council for nude have received from the Se-
cretary of State for Foreign Affairs • translation, forwarded
by her Majesty's minister at Madrid, of • Spanish Royal order,
postponing until the Ist March, 1861, the operation of the
Spanish customs' tariff law of the 27th November last (a
notice of which was inserted in the London Gozett of the
23rd ult.), no far as reprde certain articles, which. unless
otherwise provided by the Cortes, will pay until that date
the duties specified in last night's Gazitte.
Mg. KINOLALI AND HIS CONNTIITENTK.—Mr.
Kinglake, one of the members for Bridgewater, addressed
his constituents on Monday night in the town-ball of that
borough. The hon. member's speech embraced • wide
range of topics—a review of the poet session, which he cha-
racterised as not • **showy" an, although • greet number
of useful measures bad been pared; the distrees in the
north, eulogising the wonderful energy, skill. and trainees
with which the country had looked the calamity in the
face ; the public expenditure, arguing that. at all events
far naval purposes, there had been a considerable misdirec-
tion of the public money ; the war in America, coutendiog
that the moment bad not yet arrived for a recognition of the
Southern States by this country ; the proposed cession of
the lonian blood', a course which he considered impolitic;
and other matters ; concluding a long speech by thanking
the meeting for the favour sod kindness with which they
had heard his observations. A vote of confidence was
passed to Mr. Kinglike.
CRYerAL PAi&cra.—Oys SHrumeo
DAT. JAL 13.—Admisioes on payment, 73j ditto by
earn tisketv. 68; total. 1,422.