The Express.
London, England, 1849-06-06 00:00:00

BANK OF BRITISH NORTH AMERICA.

Yesterday, the proptictots of this undettaking held
their yezey general meeting, Mr. J. J. et3lllllol in the
chair.
The SECBBTARY, Mr. George de Bosco Attwoed, read
the advertisement convening the meeting, and
The CHAIRMAN then CON and said that the report
about to be submitted to the meeting would contain a re-
feree°, to the accounts, and they would be able better to
understand the particular items after they had heard it read.
Subnormal it would be his duty to reply to any observa-
tions that m ht be made.
The SEC ETARY then read the report
" Another year of considerable depression is the trade of
British North America has imposed on the directors of this '
bank the necessity of continuing the cautious and restristive
policy to which they have adverted in the, last two annual
reports. It is, however, with much ITl.tificivion that they
het themselves Seemliest in stating that, to the midst of err-
cumessioes reducing no ordinary amount of difficulty, the
commas:al community of the North American colonic%
ntrAlly have sustained their credit in a manner
honourable to their character as British merchants.
directors, influenced by a strict regard to the principle which
has unitormly guided them of considering rather the sem
ri'y of the capital entrusted to them than the actual amount
of profits appearing on the balance of each year's operations,
have felt it right to forbid advances, which, although pro-
mising le be Imitable, did not appear to them to bear the
shasneeer of isto linking. To this principle they Sr.
deesemimmillemillsere, and they are thereby ambled to give
mere elettssl rapport to the regular trade of the comma:-
ell oemmusdly. In teporting the affairs of the bank for the
last tkreelemo, tkey have been led necessarily to notice the
depromisa of eemineree in the colonies ; they place, bow
ever, snag rellemos upon the enterprise and ir.dustry of
their hllow-satdesta in British North America, and have
much eoefid.nce In the growing wealth of the provinces ; I
they nest, therefore, that this depression will prove to be
but temporary. By reference to the accounts submitted to
this meeting it will be seen that, notwithstanding the re-
stricted gate of the business, the directors have been enabled
to make a small addition to the rest, after providing for the
year's dividend at the rate of five per eent.,. again setting
apart a eessiderable IMAIL sulkiest to Coverthe 'Stung' of
probable km. Tie directors have now to nee to
the proprietors that a half-yearly dividend, at the rate of
Eve per sent. per annum, will be payable os the sth July
sext."
salaam Sheet, 30th Decentbsr, 1548.
baste.
Capital £l,O 0,000 0 0 (Meets and sash
ehreeletisa 231,137 IS 4 at bankers Z 1911,019 17 11
Wiethia al other
ma
119,177 4 9 Bina receivable
and se.
IleMlltias 361,543 0 6 amities.
DinereallltCbrist. Bak prebtiste 36,906 19 4
MIS rnYesd 23,000 0 0 .
Bedtetlell nen
peek. 57,302 16 7

£1,907.961 11 4 1 11,907.921 2 4
!named lass Aesrast ham Ist Jemmy to 50th December, IBA.
Debtor.

'lb dividends Arnelated is topotrii:•:-
At lilissaats, IS* parallie 3013. INS • CAW)
Obrbssim, ISIS, paTobto Imam INS 31,000
£30,000 0 0
To Siloam being vA31,16,1 mot mat to dr 00th
Dea, ISO

£107,30316 7
dream
37 Wares atdredbl= ft Slit Dea, 1147 L 53,702 11 6
$1
art raid ar dr yrr dbir Mud= at an
escrest drag" erbadarldarbdul
debts
- -

/107,702 16 71
The report was thee pet and carried, and the retiring dl.
mews were r►eleded.
♦ voted thashato the ebairstan having bleu carried, the
artoties broke up.

TES WIWIIIII, AID Tat CZOPIL—After three or
bat wery NWT leg% She Imam ia Yorkshire uadsrwent
a very sidelining asap sta Illwalay sight. Shortly atter
gsak regssoll yds teSsistior. aassupesied with lightning.
EZerne bet" awl whsa other parts et the West
tibia wag Maori leg heavy rain, that coutieued
at isituraeaspetallivelealo of yeataday. The rain has
Mos he th• Suds. potato, and wait)
dm=kighlp aerviosabbe to wet other do.
aLlite h• gasepsets of a good harvest bogie