The Express.
London, England, 1849-12-05 00:00:00

HIBERNIAN BANK.

The usual half-yearly meeting of the proprietors of
the above bank was held on Monday, in the board-room of
the institution, Castle-street, Dublin. The chair was taken
at 12 o'clock by DlNte MOTLAN. Esq., deputy governor.
The SeCart/OLT read the following report and statement
of accounts
" Uentlemen,—ln laying before you the statement of
accounts for the past year, ending the first day of No-
vember last, your beard of management have to
',wet that the general state of the country has
continued to retard its more successful progress. The
board, anxious at all times to avail themselves of every
opportuaity of extending legitimate accommodation to the
public, consistent with safety, have, nevertlieltri, found
it extremely difficult to find profitable employment for the
floating capital of the company ; and hence has arisen a less
favourable statement than they anticipated when they last
had the pleasure of meeting their shareholders. Your board
having minutely investigated the state of the overdue bills,
deem it necessary to write off (in addition to the sum
announced to the general assembly in December last) the
additional sum of 7,0001., chiefly arising out of the prostrate
state of a trade which, for many }ears, formed an important
branch of our customers. In conclusion, your board recom-
mend for your adoption the payment of a dividend of five per
Cent. per annum for the heftiest ended the Ist of Novem-
ber last, oa the paid up capital of the company."
•081‘5C7 Or TAM AMOR!) Cr THII COMPANY TO TOE IBT NOTEXIIKO,
1449, 11.10.VAsT TO THE WALD 05 OVITLIINENT.
Meets of the Company
Due to the public 228,1170 16 4

£511,56115
Capital of the Company, t1,0(4,000, 25 per sent 250,u0t0 o
Balance to credit of profit and leas in favour of
the Company G4,561 15 11
Nett profit for the year ending let Nov., Bo ,
after dedusting all charges of management
The above report and statement of accounts were unani-
mously adopted by the meeting.
Mr. Bacot( moved that a dividend for the half year ended
the let Nov. last be made, at the rate of 5 per cent. per annum
on the advanced capital et the company ; end, after some
discussion, the resolution was put from the chair, and unani-
mously adopted.
Mr. GRAY observed that there was a report abroad that
the country branches had not been very profitable, particu-
larly the Kells branch. He had been informed that so large
a sum as 15,0001. had been lost there.
The Cu/agnate said that rumours were not always to be
depended upon, and that such was not the case at all. A
great portion, however, of their debts, which had been written
off as bad, were from the Kell' branch.
Mr. Gust-1 suppose your Drogheda-branch would be. a
very profitable one.
The CILLIRMLN—It is a good and profitable branch.
Mr. FiIiGUS FAIIIIELL Slid that no one who had so large
a country trade as he had would recommend the extension
of banking in the country at present. It would he prefer-
able to pay the rent of the branch houses and discount no
country bills at all.
Alderman KEBKON said that, with the exception of Drog-
heda, aU their branches were being wound or ; and when
it was known that neither in town nor country had they lost
anything this year, it must be very satisfactory to the pro-