The Express.
London, England, 1849-07-28 00:00:00

TUB LIVERPOOL BOROUGH BANK.

On Thursday the annual misting of the ohne-
holders la Ihie beak was held is the Clarendon Room
WILLIAN RATSBOXL Big chairman of the hood of
illronews, guided. Thar. wu a sumerou atteudssns of
elearekoldses.

MTCues;, the Ilellamittf, read the following report
fa the diseharge et thee daty to t'e proprietor the
directors of the B wash Bank now reseal their thirteenth
annual report. The paha With, pastyeer, alter my:unto('
all es. eases, amount to MAU. 19s. 9sl. and the direeton
have the satisfactim of r•porting that tier* have been no
hem whatever on the busmen strictly appertaining to that
peek& They have, however, mantle red it their duty to take
• sandal review, not only of the bad and doubtful deba of the
geovents di...matron year, but of the old Impended accounts
and amen. and they regret to state that a large reduction,
monsittlag in the aggregate to 25,0001.' in the alienate of
value
the of these assets a retmind to be made, in order to
place the real position of the Wink bets,. the rroprietors.
When it is borne in mind, however, that an unprecedented
depreciation in the value of cony kind of property has fol
lowed on the inandal anis of en previous year, and the
coalman% politkol ecandsioas of Europe, it will not be
saatlar MI surprise that these sawn should have hitherto
hese overeetmeated. The moaning endeannws UM di-

teeters an turned to maintaining a member aid steidy beta-
im balsams, rather than in reing tem ary profits
from tarns and speculative operations, which caned be
expected to last beyond the excitement of the time, and they
thus expect to won the additional advantage d keeping
the resources of the bank In sash a putties that
its regular customers may fell mend at ail times
of obtaining men legitimate facility they may re-
gain. The dreams me strongly impeemed with the expe-
diency of formieg • sufficient reserved fend; and they con-
sider the most 14timate mode of accomplishing this desirable
object to be by strictly adhering to the payment of moderate
dividends fur some time to corm. They have no hesitation
in expreesirg their opinion that se dividend la.yor.d the rate
of 4 per cant. permeates ought tubs declared until a reserved
fund of 60.0001. at least be enabliehed ; and sueh a course,
they are satisfied, would lead, net only to the ultiman soli-
dity of the bank, bet to its present prosperity, and to the
munasioa of its current business and resources. The sur-
plus profit of the previous year was 682(. Os. Id. • the net
profit during the pan year, alter payment of de:ruses,
Is 60,1511. 19a. Pd..: together, 80,-834. 19e. 10d. From
which a dividend, at Mum rate of 4 per cent. rr annum,
was paid in January Let, for the half-year then end-
ing, amounting to the sum of 9,9421. Bs.• leaving
a fund of 49,8711. Ili, 10d. From turbid; a divi-
dend, at the rate of 5 per cent. per annum, is now
declared fie the pert half-year, amounting to 12,4634 ;
lesvicg a balance of 28,4181. Ils. 10d. Ageinet which is to
lie placed the increaser* estimate of looses on the odd bad and
doubtful debt account, and also on eke bed and doubtful
debts of the previous year, viz.: 25,0361. 12s. 106. ; leaving
a clear surplus of 3,3811 10s. as a commencement of a n-
served fund. The total number of shares issued remains the
sans as at last report, via., 49,812, representing a paid-up
capital of 498,1201.
Mr. Foltwann asked the directors bow far they intended
to tiny the reserved fent ?
The CHAIIIMAN said there was little doubt that when the
reserved fund amounted to 40,0001. there would be a further
dividend declared; but they must wait unti, they got the
40,000/. before they could decide.
After some further conversation, the report was adopted.
The retiring directors were then re-elected.
The CHAIKMAN said he had now to mention to the meet-
lag that the mugging directors of the committee had foe
some time ben working without any remuneration. For-
merly, when In. Hope's trustees had a large amount of
mosey Lis the bank they gave 1,0001. to the managing com-
mittee, who had the burden of the affairs of the hank upon
their shoulders. It wa now for the shareholders to my
whetter they would allow the managing committee anything
for their services. _ _

lb. HAITIT mid dm question was rather as awkward
one for the Maim= to have to bring forward t but be
begged to move dm the sum of 1,0001. be placed in their
beads for the next Mate months.

Mr Parentsorox seconded the motion, which was anent-
monsly carried
The CHAIRMAN then moved a vote of thanks to their
manager, who had bee.' the principal means of bringing the
bank into its protest ii uriahing condition.
The motion was carried with acclamation, and Mr. Cross
having replied, and a IRAs et thanks to the chairman and
directors having been passed, the meeting broke up.