The Express.
London, England, 1864-01-20 00:00:00

LONDON AND WILSYMINSTZR BANK.
(TEM DAY.)

The annual meeting of the sharelolderm was lidd
at 1 o'clock, at the Beak, Lothbury ; Mr. Alderman s
soon, M.P., in the chair.
The fallowing report sod bahoce sheet were prenatal :
" The directors have to report that--after making prowl.
ion for all bad and doubtful debts,burdrming the income t.,e
setting apart 2,0004 towards the of the bank, acct
the • wthby at
_llO per amt. on 11 salaries
the •
officers at the athebthlment-the net profita of tilt
beak for the MA half year amount to 147,x1 ;a,
18e. 6d. This ears, added to 27,7594
the unappropriated balesns of the preceding half rear
will amount. 175,575/. 4s. 3d. Out of this amount in:
find Oa thereat or supine fund at the rate of 5 per cent.
per annum (6,7304 lls. 6d.) has been added to such f
which now amounts to 275,9634 4s. 7d. The directors now
declare a dividend to the shareholders at the rate of 6 pet
cent, per annum, and by way of further dividend oat of the
profits, a beau of 12 per pent. on the paid-up capital.
After the payments are made there will remain a
bathos of 18,8441. 12s. 9d. to be canted to profit apt;
less amnia for the current year. Moos the last meeting
of proprietors the directors have had to regret the death of
their colleague, James William Gilbert, Esq., F.R.S. Mr.
Gilbert wee appointed by the direciten to the office of
gemmed manager immediately after the foundation of
the bank in 1834, and by his seal and unimpeach•
able integrity he greatly contributed to itssurxer.
The vacancy the 'direction the been filled up by the
aominetiom Frederick Joseph Edlmson,__En, subject to
the coofimation of the present meeting. The ftectme who
retire by rotation are Thome' Chapman, Esq., _ F.E.S.,
John Peter Game*, F.B.S. and Henry Buckle, Esq.,
all of whom 'oeizg eligible for re-election offer thematic.
acoor,and Westminster Bank, 3lUDeostaber, 18G3.-
Dr.: To proprietors for paid-np capital, 1,000,0004 ; to
amount doe by the bank on deposits, circular notes, divi.
death and other monies payable on demand, 15,629,0944
lls. sd. ; to met or surplus fund, 269,222/. 13s. ld. ; to
balance of profit and foe account, 30th June, 1963,
27,739/. Is. 9d, ; to net profile of the put
half-year 147,8151. 18a. 6d. ; total, 17,073,892/. th.
Or.: By governmeet stock, Exchequer bills, and India
booth, 2,492,4124 9s. ; by bills disoounted, loans to cue-
sad other murkier', 13,273,3151. is. 9d. ; by mob
ro3=, 1,308,1611. 15a. ; total, 17,073.8924 Bs. 9d.
• ' Profit and log.-Dr.: To total expenditure of the eight
eitablishmente, including rent, taxes, @e odes, stationery,
ha., with a gratuity of 10 ppeerr cent. on their salaries
to the officers of the stebl ehmsat, 50,151/. 4s. 2d. ;
to amount set apart towards the buildinp of the bank,
2,0001. ; to amount added to rest or surplus fond
by interest thereon at 5 per cent per annum, 6,7301.
lls. 6d. ; to payment of the dividend now declared, at
the rate of 6 per cent per annum, far the lad half.
year on the paid-up capital of 1,000,0004, 30,030/. ;to
bonus of 12 per cent oa the capital, 120,000/. ; to balance
of profit and scoondt, 18,8441. 12s. 9d. ; toted, 227,726/.
Bs. AL Or.: By bateau of profit and loss account, June .10,
1863, 27,759/. se. 9d. ; by grams profits of the last half-year,
after goyim. the income tax, and making provision for all bail
and doubtful debta, 199,9671. 3 Bd. ; total, 227,7261.8.. sd.
" Best of surplus fond.-Dr.: Present amount, 275,953/.
4s. 7d. Cr.: Amount on let July, 1863, 269,2224 Lis. Id. ;
by interest on ditto, at five per cent per annum, 6,730/.
Us. ; total, 273,953/. 48.7 d. The dividend and bonus
(without deductioa of income tax which is paid by the
bank), will be payable on Monday, the 25th init.
The Miamians, in moving the adoption of the report and
amounts, said the board bad the pleasure of lath before
the proprietors a very retithebery st•tement. The deposits
were 1,000,0001. in excess over the amount in July. Indeed
the bushier was larger than ever, and the profits were pro-
portionateli increased. During the lestalteareenthey had then
almost (manly free from bad debts; partly in Dome-
quas of this state of things, 5,0001, had presented to
the managers. The dividend of the past year was at the rite
of 26 per cent. per annum, or one-fourth of the
capital ; so that the old Westminster Bank was not so bad
a concern after all. The reserve now amounted to
275,0004, while nearly 19,0001. was carried forward to the
issuing half year. lie then adverted in terms of regret to
the decease of Mr. Gilbert, formerly manager of the
bank, on whom he paned • high eulogium• add-
ing that Mr. Eallmann, who was proposed as Mr.
Gilbart'a successor, was an eminent merchant and an ex-
osllent man of bonne's. In coosequisee, he said, of the
continued therein of business, it was necessary to enlarge
the premises in which thee were asiembled, alepsinZorZ
be taken for that pnepoee. The Lambeth branch,
which had been recently adoptd, would, he believed, prove
remunerative. That establishment was no longer an infant
sue ; in March oast it would have been established thirty
years, and be trusted it would exist for centuries to
come. They would not attempt to take away
any of the customers of other establishments, though
some ether companies bad. be regretted to say,
made efforts of that kind. (Hear, hear.) It was not by
such means that that institution had risen to its present
grastaim, and he deprecated such conduct on the part of
others. The business having goo* on focussing he thought
the directors, who had the responsibility of it, should have
increased remuneration, and he should propene on that
occasion that it be augmented by the sum of 2,0004
The report was then adopted, and Mr. FAlmann elected
a director, in the room of Mr. Gilbert. doomed.
A sum of 2,0001. was voted for the remuneration of the
directors, in addition to the amount which they already re-
ceived.
The Cithlall•2l said the effect of the vote would be to
raise the remuneration of the directors from 400/. to 500/. a
year each, and that of the trustee's from 500/. to 600/Auger.
The proceedings terminated with votes of thanks to
the directors and to Mr. Ewinp, the general manager, and
the other managers and °Mane( the bank.

NATIONAL DISCOUNT COMPANY (LIMITED).
(TErd DAT.)

The half-yearly meeting of the proprietors was
held et noon at the London Tavern, Mr. F. W. Roassu.,
M.P., in the chair.
The report of the directors appeared in the /rpmr of
last fiaturday.
The CHAIRMAN, in moving its adoption, congratulated the
meeting on the steady progress towards that high degree et
prosperity which the beard believed the concern woad 74
Wean ; for, prosperous as the coopers was, he
thought it would be 401 more so in tir future.
The business of the company had been in no
degree diminished by the high rates of interest ; and the
easomure were not disfigured by bad debts. The capital at
43,00/. was, in his odors, now worth, with the good-
will of the couture, not low than 1,000,0001. ; sad, rider
such circumstances, he certainly claimed for the board the
continued confidence of the proprietors, (Cheers.)
The report was adopted sod a dividend at the rate of 10
per cent. per annum delLmred, payable en the 28th instant.
The retiring directors and auditors were afterwards re-
erred unanimously.
The mediae was made special, when • resolution wee
proposed to increase the capital by Gee million, the new
shares to be trued pro rata to the existing shareholders is
tie proportion of one share to every two shares now held,
sad at • premium of 51. "soh. After oonsidemble discussion
this alp was carted emesimendy, ea 'amendment moved by
Mr. Russell, a shareholder, aid seconded by Mr. Braith-
waite, that the new shares be issued to the preempt pro-
prietors at a premium of 21. 103. per share, having been
withdrawn.
A vote of thanks to the chairman and directors concluded
the promeediess.

LW DON FINANCIAL ASSOCIATION (LIMITED).
(THIS DAY).

An extraordinaryleneritl meeting of the share-
bolder. was held at ball-put one o'clock at the Baltic,
South Sea Hones, Mr. Racirmoca is the chair, to confirm
the spaded rieolutioss passed at the extraordisar, general
rosaries held ea the Mt of Deoemberlast.
The Iftchrftant having reed the resolutions passed at the
previous meeting.
The Qumran first moved the oonfirmatios of the alts.
rations made is the whales of association. The resolution
wee passed snasissonely.
The Outlaw, then moved the confirmation of the reso-
lutions relating to the raisin of sew capital.
Mr. PAIIIIIXTIM aossidrd that this matter ought to be
regarded solely as a pecuniary one affecting the existing
shareholders, and on that ground wished to move as an
amendment that the sew shares be rimed to them without
any premium.
The CEL&IIMAI mid it:wes not competent to the pro-
prietor to MOT* an amendment ; all he could do was to pro-
pose the rejection of the rescdutiooe of the board.
Mr. Partway= would then take that course. He con-
demned the ides of establishing a reserve fond, such funds
bring a source of creational dispute and unsound in principle.
It wee unjust to existing shareholders to set aside money
for the benefit of future shareholders.
The Ceinimax believed. on the contrary, that a reserve
feud wee &Ilia:portant. in order that three who were invited
to become depositors of money might have coatidence in the
security of the concern.
Mr. A LEXANDICII Monmeas thought the shareholders
would do well to kayo this matter in the heeds of the
directors, who bad so well deserved their confidence by
their pest management. (Cheer.
The Crusnutan, in answer to. a questing, remarked that
if the resolution were passed, it would be entirely at the
discretion of the board is what manner or at what pre-
Ulla the sew shares should be issued.
After some further discussion, the resolution was carried
ussirimenely.

SHOCKING OCCURRYNCIL Dar.)—The fa-
mily of Mr. Gordon, residing at Olifton.villas, Upper Hollo-
way, were this morning thrown into considerable excitement
by the discovery that Min Wells, a young lady, 22 years of
age (sister to 'Mn. Gordon), bad been burnt in a dreadful
meaner. It appears that the unfortunate young lady was
In the set of reaching over the mantel-piece of the parlour
finti for the pinpoint of taking down a picture ; while thus
engaged her dress caught fire, and she was enveloped in
tames, She no from the room to the ball, screandog for
aeostasom, sad the foot-boy, with great presence of mindr
mined a greatcoat that woe hanging in the ball, sod roc-
oseited is extinguishing the dames; but Dot before the
young lady wee no burnt that there is little hope of her
recovery.