The Express.
London, England, 1864-10-25 00:00:00

LONDON. HAMBURG, AND CONTINENTAL
EICHANGI BANK (LIMITED).-(THIS DAY.)

The first ordinary meeting of the shareholders
ern held at Imo, at the 0.50011, 79, Loaabard•etreet,
G.SHAMBIES is the chair..

The following report sod balance-aheet were presented :
`The directors have the pleasure of presenting to the
shareholders their first statement of the assets and liabili.
ties at the bank, from the let November, 1863, to the 314
August, 1864, duly audited. The balanes sheet shows
• net profit, during ten months, of 7,5374 15s. 91., of
this sum the directors recommend that 3,5181. Bs. 9d. shall
be divided among the shareholders, being at the rate of 10
per cent. per annum, upon the animist of capital paid up,
Levies 2,000!. to be placed to the reserved fond. UM/. to
be written athe prelimieary expenses, and 1,0194 7a to
he carried forward. Notwithstanding the commercial de-
pression which has prevailed more or lima during the exist-
ence of the bank, the directors are enabled to aav that
there has been a steady increase of Imams, both here
and in Hamburg, sod th.y feel gratified to hod
that their policy in securing the valuable banking esta-
blishment of gr. Spielman° and Mr. Schmidt has full.
realised their most sanguine expectations. The directois
cannot, however, disguise from themselves the fact that the
limited capital at their command operates prejudicially
against the Miami' of the bank. In Hamburg, the busi-
Dees is conducted by Mr. H. C. Schmidt, the 10c..1
meowing director, assisted by two directors, who,,
position and character are saflcient guarantees
that the true interests of that branch are carefully pro-
tested. At the head of the busioess hes progressed very
eatisfactordy, many new and valuable accoonta have been
opened, and important connexions are being formed. In
conclusion the directors feel justified in congratulating the
shareholders upon the present healthy position of the bank,
and confidently anticipate • prospemos future.
" Statement of liabilities and meets to the 31st of
Ammo!, 1864—Liabilities:—Share capital—Authorised-
-10,000 shares of 1091. each, 1,000,0004 ; subscribed, 500,0901.;
5,000 shares of 1001. 'eel), 500,0001. ; urisalocribed,
500,0004 (NOW up—Deposit 3/. per share, 15.01)91. ;
Ant cell. 54 per share, 25,0001. ; sewed call, 5!. per
share, 25,0004-65,0004 Uncalled 435,0001. Arrears—
First call, 1001. ; second call, '2501 ; total, 3301. Paid
up, 64,6501. ; cestouwee balances on consist accounts,
deposits, sad other obligations. 292,8451. 18s. 4d. profit
and loos, balance, 7,537/. 15s. 9d. ; total, 365.0334 14s. led.
Assets : Bills discounted, advances, and balances due from
customers on runlet amounts, and other securities,
242,9981. 18s. 10d. ; furniture and fittings, business pur-
chased and preliminary exposes.. 46,2754 7s. 10d.: cash
in hand, and at call, 73,759/. 7s. sd. ; total, 363,03. M.
14s. led.
"Prodt and lose account.—Expenses, %eluding rent,
salaries, office charges, general management, interest pail,
sod rebate, 7,7131. 2s. 23. ; Wawa to general amount,
7,537!. 15e. 9d. ; total, 15,250!. 17a. 11d. ; gross prout,
15,2504 17a, 11d."
The CHAIRMAN, in mowing the adoption of the report
and accounts, congratulated the meeting on the satisfactory
nature of the report. The preliminary expenses amounting
to 9,600/. bad been considerably reducer,. When the pres.nt
manager's term of office osased, as it MOOD would do. in
coasequeoce of ill-health, great care would be taken
to appoint a suitable sucoessor. TOO directors had
laboured strenuously that the barium' of the bank
might be in • safe and prosperous ()audition ; and he assured
the meeting that so far as he knew it was now as safe as
that of any hank in London. Cu to the 31st of August
there was not a single bad debt, end three or four thousand
pounds would, he was certain, cover all the subsequent
eses arising out of the recast commercial difficulties.
Mr. Tomas seconded the motion, which was put and
carried unanimously.
The dividend will be payable on the 30th of November.
The two vacancies in the direction were filled by the
oam's of Mr. E. Tombs and Ilejor Smart.
Mr. HMO, in moving the re-election of the auditors, made
strong remarks oe the conduct of those who had circulated
slanderous reports respecting banks, with the view of
"bearing* the shares and profiting by a fall. He was me.
mimed that the better the affairs of the London joint-stock
banks were known, the greater would he the public mal
. dente in them. (Cheery.)
; The motion was then agreed to.
The meeting having Leen made special, alterations were
made in the articles of association to enable the directors
to convene the half-yearly meetings of the company in
Januar7 and July.
The Umaremam stated in explanation that the nut hall•
yearly meeting would be held in July next year.
Thanks were afterwards voted to the directors.

RECIPE AND SAO FRANCISCO, PERNAMBUCO,
RAILWAY COMPANY (LIMITED).-(THIS DAY .)

The 18th half-yearly meeting of the ahareltulderi
wee bold at 1 o'clock, at the Load= Towers ; kir. Ranker
Selma io the chair..

The report having been taken as read,
The CaLuniss, in moving that it be adopted, stated that
they had not yet received the guarantee of the Bra,
sib= government for the extended capital, but the
government had proposed it to the chamber. and it
wee included in the budget. wk.& passed the
Howes of Representatives. Whilst it was before the
senate, however, a cha •of ministry took place, end the
parliament was prorogued. Nevsitheless, he lied no doubt
that the guarantee would be ultimately given, and he
trusted it would date back werds from the time of opening
the railway. The agreed amount wee 485.0001.
The reeolutioo was agreed to. as were also other re-
solutions autherhing the collie( of an ertraordinery
meeting to convict the shares into stock. and
kw the payrneet of deferred warrants of an interim dividend
at the rate of 3 per cent. to the 30th lest, the warrants to
be imoverted, at the option of the holders, into debenture
headset not less than 501. each.

MIST PLANDERS £arzwar.—(l7llB DAY.)

This afternoon the thirty-eighth half-yearly
geseral meeting of the proprietors in the above under-
taking was held at the °Moe of the eomesay, kfoorrit••
street, Mr. Tarots Falai presiding is the room of Mr.
Oreig, resigned ots account of all health.
Th• directors stated in their report that the receipt' for
the six mouths ruling the 30th of Juno last exceeded
those for the corresponding period of 3863 by 2,6111,
The sum available for dividend was 5,9611., out of
which the directors proposed to declare • dividend
al 4a per share, leaving a balance of 6091. The defini-
tive shares would very shortly be ready, and by their
Woe the directors expected to discover with accuracy how
sissy shame might have bees issued in excess of the num-
ber authorised by statute. Mr. Hutt, the accountant, re-
that the number so issued might amount possibly t•
249. The directors had already purchased and cancelled 101
shares, leerier 148 which might possibly have to be par
chased hereafter. Those shares, with the sum of 1,6351.
which still remained to be arranged is the books, repair
meted the extreme limits of the company'. possible lia-
bilities, to meet which the director' held 278 preference
shares, which they had not yet thought it prudent to dis-
pose of. The convention between the West Flanders Com-
pany and the Soci44 de Tubas' had received the royal
assent, and would come into operatics out the let of Ja-
emery next. The directon had received estimates for the
thestruction of the proposed exteasion lines from Roulet,
to Ypres and from l'operinghe to 11thebrouck, which had
bees duly referred to the company's engineer to report upon.
The capital account showed that 599,0931. bed hew ex-
WhiaThe traffic account for the half-year ending the
olf Jump showed that 27,4201. bad beim received, and
17,098/. exceeded, leaving • Wares cd 10,3221.
The report was