The Express.
London, England, 1865-01-24 00:00:00

BAN If.—(TH IS DAY.)
This day the fifth general meeting of proprietors
pas MX at the Lades Tavern ; Mr. Diala in the chair.
ge the directors accalag into the meeting there were
styled hires and rim
!be mod, which was pablished in the Express of plater-
gey, en liken as red.
The MAMAS, it Movie( its adoption, mid the &union
sato which they ware aesembled that day, ciontrasted
piston), with those nader whisk they appeared before the
shareholders on previous maim. The premium u
they were aware, bad been severe and unusual,
*Sag that he did not with to remove frees the direct=
ache o[ the respoosibility wh devolved upon them. With
gm light that they sow had than were many things which
they would not have don. The difficulties they ware In
owe very much from their too great anxiety to posh a
yang bank. (Hear, bear.) When they forted the =a-
we upon them they hops to °attract, and from that
errycirmunelown they increased the pressure on moot their
=Mem The IteoCalaie were id forth in the planed and
Mort manner. The bills payable looked heavy, but they
yore entirely covered. (Hear, hoar.) These bill. were •
camas of prosperity, and were bathed up by other banks
,5k kw capital& and they had not lost one tartish*
hg them. Thole was one paragraph to which he
ebbed to sill their medal &dinkiest—he alluded
te the paragraph which dated that there were transe-
lime ad yet matured la canierdon with • heavy account
eherk might pemibly entail • large additional loss. There
wire fled and hopes ameacied with that statement. The
kers mepeatimated on paper, but is his opinion the hopes
pidedwatod. There might be a loss of 80,0001., then
sot be a loge ef 40,0001., bat there might be no loss at all.
(gar, hear.)
ASSAM/id= asked whether 40,0001., wee the highest
him
her comma, the acconatent, said it was difficult to give
moginioa that meld be relied on. But after folly weigh-
ing ell the probabilities of the owe he wan of opinion that
mist ao oreumetanose could the been be more than
mpg. or 60,00104 That he'aregsrded as the maximum low,
het It was (mite probable that there might not be • lose of
depeasy. (Hear, hear.)
The Owdesun mid that is September last there were re-
ports Nat the bask had realised great laws, cad in con-
awnsees of this and ether reports the shares of the
Mak fell. Bat at this time then had been no losses at all.
He also denied that they had met with aay losses in
ciammoimes of making &drams on cotton. The
hat was they sever low • angle Milling by
sotto& (Hew, hear.) He did not wish to conceal the
room they were to ; and if the shareholders thought
Nat the direction mold be plead on • new bids, he should
not object. (How, Mir.) He believed the bank still pow
mei the dm= et security and mom, for they had a
lerge =ern hied sad good conoroars. (Hoar, beer.)
Is reply to • queseisa by • Semmodne,
The Cam= mid that than had ben so hems on
dram There were no la= on ascaritiee. The losses of
=bask seamed by the failure of fitly or sixty of their ens.
time is the Leaden WM
Ir. lioune, • dinner, said there had been looses as
abirse la Liverpool. The km in that branch arose on a
• and, were it not for that then would
heelletemesig."At of 18,0001. cm the_ Liverpool breads
welt *cal have paid a dividend of mare than 10 poi.
mat ea the capital employed there.
Cl4/70111) thought the shareholders had been twisted
with cruel isitutios by the ion of the sew shame at the
high preniaas at which they wore isaued—(hear)—when it
median Winnows that these losses were at least scorning.
He she thoeght it. Thompson, the late manager. shool4 cot
have vas to TM till be had explained to the shareholders
hew thew loose had been incurred. (Hear.)
The CULLMAN explained the circumstances under which
yr. Thompson went out to India, and said it war a matter
dotes= whether 201. profit was too much as the new
Met At the time the ohms were Wooed no looses Id
bees Marred.
Yr. PATITIBON, a director, explained the Mire of the
%doses transacted by the beak. The business of the bills
maids ad covered, amounting to 3,700,0004, was use of
the best portion of their bushman. Oerreisird of their loss
bad bow incurred on two accounts. In explaining the vague
snout, he said that the total liability was 160,0001
For this they held securities to the amount of 450,0001.
Of these acuities they believed that 1433,0001. was per -
firstly good. There was another security of 50,000/,
whisk they pot down at only 10,000/, There wee • security
of 50 sores of land, which war valued at 12,00J1. (Hear.)
Then wwe also other securities which they be-
hoved would realise something. (Hear, bear.) He
lied now stated the whole cam he had kept
bathing back, aid be asked them whether their position
was so bad after all? (Cheers.) They might modify the
board of directors if they wished—(no, no)—bat with a
good board of management be believed they would have a
good profit. (Chien.)
A SOMMHOLDER pprwooposed that • committee of five gee.
thanes, to be by the shareholders, be appointed to
co= with the directors with • view of strengthening
i