The Express.
London, England, 1867-01-30 00:00:00

UNION BANK OF IRELAND (LIMITED).
(THIS DAY.)

The half-yearly meeting of the shareholders wag
held at noon, at the London Tavern ; Ur. E. W. wO.
GROVE in the chair,
The Seciirr.ter read the following report and balm,.
sheet :

" The directors beg to submit the annexed statement of
accounts showing the position of the bank on 31st
her last, as well as the result of its operation, for the
past half-year. The gross profit after law
provision for bad and doubtful debts, amounts to
21,0521. 12s. 9d., and after deducting all current expel.",
interest paid and due on current and deposit accounts, end
rebate on bills discounted not yet due, there remains, La.
eluding the amount brought forward from last account, an
available balance of 7,2011. 15s. 11d., the appropriation
of which amount is recommended as follows, viz.:_
4,0001. in payment of a dividend of Bs. per share, free of
income tax, 5001. in reduction of preliminary expenses,
1,5001. to the reserve fund, and to carry forward to sett
account the balance of 1,2011. 15e. lid. It affords the di-
rectors pleasure to report that the new premises in Dub.
lin will be ready for occupation on the Ist of March next.
The dividend will be payable on and after the 4th prof.
to the proprietors at present on the register, at /deem
Barnette,Hoaree and Co., in London, or at either of the
branches of the bank in Ireland. The warrants will be
forwarded by poet on the 2nd proximo.
"Statement of Accounts.—Liabilities: Oapital,22o,oooi.;
deposits and current accounts, 353,0171. 19s. 2d. • seven.day and other bills, &c., 28,263/. Bs. 3d. ; reserve fund,
3,0001.; rebate on bills discounted not yet due, 9971.55.; be.
lance of profit and 10'8,7,2011. 15a. Ild. ; t0ta1,612,4M0L Saki,
Asset& —Cash at London bankers, branches, and span,
and loans on interest at call and short notice, 159,710/.
Os. 10d. ; government and other securities, 29,3701.38.11 d. ;
bills discounted, balances due on current accounts, kr.,
388,374/. 4s. Id. ; bank premises and furniture, 29,9 Q.
6d. ; preliminary expanse, s,oool.—Total, 612,4801.
Ba. 4d.

" Profit and loss account —To charges at London est
branches, including directors' fees, rent, salaries, It.,
7,4681. 15e. Ild. ; to interest paid and due on deposit end
current accounte, 8,4911. 10s. 7d. ; total, 15,9601. 6a. fit;
to rebate on bills discounted not yet due, 9971. SG. ;
to balance, 7,2011. 15a. 11d. ; total, 24,1591. 7s. :,c1
By balance from last statement, 3,1061. 14a. Bd. ; by gran
I profit for half-year to 31st December, after making pro.
vision for bad and doubtful debts, 21,052/. 12a. 9d. ; tow,
24,1591. 7s. sd. Examined and found correct this 16th
day of January, 1867. (Signed) William Bull, secretary;
H. Barnett and E. Miller, auditors.
. . _

__-----
" Proposed Appropriation.—To reserve fund, 1,500/.;
to preliminary expenses account, 5001. ; to a dividesid
Ba. per share, free of income tax, 4,000/. ; to balance ter.
rind to new account, 1,2011. 15s. lld. ; total, 7,2011.
11.. lld. By balance of profit and loss account, 7,2011.
15a. lld.

The &imamate, in moving the adoption of the report
and accounts, observed that the deposit and current ac.
counts, which were the life of baninn, amounted to
353,0001. • and the bank was under no except for
very short period, and in the ordinarr, course of business
He then referred to the shocks which banking
in Ireland had received since the autumn of MS,
the last being the run caused by Fenianism, which cow
pelled the board to keep a large amount idle. Notwith-
standing this drawback the increase in the deposits during
the last six months amounted to 23,0001. But for that
cause the increase would no doubt have been much larger,
but he wee not sorry that it had occurred, as it had tested
the soundness of that bank. (Hear.) The ultimate success
of the bank depended on its readinem to meet any demand,
and the confidence of the public in Ireland in the stability
of the bank had, be was happy to my, never for a moment
been shaken. He thought that, considering the ad-
verse circumstances to which he had alluded, the gross
amount of profits, vie., 21,0521., was very aatisfsctory. The
board bad received letters from several shareholders with
to the excessive liability on the shares—namely,
Heard
The board had no plan to propose at present, but they
hoped that through legislation in the ensuing session they
would be enabled in some way to meet the wishes of the
ahareholders. The new building in Dublin would be opened
in March next, and he hoped that event would lead to
large accession of business.
Mr. Huocuss, a director, seconded the motion.

Mr. EVANS inquired whit rate of interest was paid on
customs,' balances.

The CHAIRMAN replied that the practice in Ireland, as
in London, was to pay 1 per cent. below the Bank rate of
interest. The amount paid under that head during the
last half-year was 5,491/., and 3,0001. more being due, it
was charged in the accounts.
. .

After ;ome further discussion the report was adopted,
and adividend of Bs. per share having been declAred the
proceedings terminated in the usual manner.

MIDLAND BANKING COMPANY.-(THIS DAL)

This day the ordinary half-yearly meeting of
shareholders was held at the London Tavern ; Mr.
RICHARDSON in the chair.

The report, which has already appeared, having bets
taken as read,
The CHAIPMAN, In moving its adoption, congratulated
the shareholders on the successful working of the bank.
Some might think they went on slowly, but they went on
surely. In a year of great pressure they added a consider.
able sum to the reserve, besides paying 9,000/. in
dividend to the shareholders. He thought this addition
to the reserve fund would meet with the approval of the
shareholders. The accounts spoke for themselves ; the busi.
ness was increasing, and was of a satisfactory and secure
character.
Mr. KNIGHT seconded the motion.

In reply to questions
The CHAIRMAN said ;hat the reserve fund was invested
in the business. They bad not received anything on ac-
count of the Midland Hanle. They had not applied any.
thing towards the liquidation of the 10,000/. purchme
money of the London and Northern Bank. He should like
to wipe the whole of that amount away, and they
might, when their funds increased, consider that matter.
They applied 10 per cent. to the writing off of preliminary
aziehilessrseport was adopted, and the chairman announced
that the dividend at the rate of six per cent. per annum,
free of income tax, would be payable on and after the 4th
of Feb.

The retiring directors and auditors were re-elected.
A vote of thanks to the chairman and to the general
manager, Mr. Tomeon, terminated the proceedings.

EAST LONDON BANK (LIMITED).-( THIS DAY.)

The half-yearly meeting of the shareholders was
held this afternoon, at the London Tavern ; Mr. C. S.
BIITLIR, M.P., in the chair.
The report, which has already appeared in the Express,
having been taken as read,
The CliAiliAN, in moving the adoption of the report sod
accounts,said when he last met the shareholdersa severe emu
had just occurred, and it was evident that a long time niu4
elapse before confidence would be restored. Some establi.b•
meats presented colossal figures to the gaze of the public.
The end came then with a crash, and they all knew dal
rest. He was strongly impressed with the convict=
that colossal figures and large dividends did not Anal'
mean prosperity. Let security be looked for in modeste
establishments like their own, where there was a tigllsl,
thoughtful, and prudent management. Let them
not be hankering after large dividends; for the
the larger the dividend the less the security. The goo]
old fashioned principles of banking were, after all, right
principles, and banks ought not to connect them-
selves with business which properly belonged W
financial companies. Turning to their own open,
tions he was happy again to be able to mod
that they had had a new account for every day
—(cheers)—end if the total were not all tls
could be expected, the depression of the list
six months fully accounted for it. It wan the
opinion of the auditors that the present state-
ment was the most favourable one that had been Po'
sensed. He could have wished, however, to see greater
assistance on the part of the proprietors, who should re-
member that any influence which they might etemise would
return to them in increased dividend. Some of the pro.
proctors had not even brought their own account to a bank
which was as stable as a rock—(cheers)--and he trusted
that there would now be an improvement in that reseed-
(Hear, hoar.)
The report was adopted and a dividend at the rite of 5
per cent. per annum declared ; after which thanks sere
voted to the directors, and the meeting terminated.

Wilkie Collins's new drama, founded clan his
novel " Armadale," will be produced, it is said, in Paris.
and nut in London, having undergone several moditiatti."
Verdi's Don Carlus was rehearsed for the ant
time at the Grand Opera, Paris, on Sunday night, Vet,
h
being present. The opera is said to be very carefully and
studiedly written, and in his heroic style of compodtion.
There occurs a huntine scene, which is accompanied by a
brass band of 22 of Sax's instruments. A grand march and
chorus are described as massive and imposing. Geu"ed
new opera, Romeo and Juliet, is now in the hands td the
copyist.
THE FOOT AND TOR BOOTJACK.—Here is s hit
of Yankee humour really worthy of the Nome inia,;ins-
tion. It is so ridiculous as to be within one step of the
sublime. A traveller called at an hotel in Albany. ..14
asked the waiter for a bootjack. " What for"... mil
the astonished waiter. "To take off my boa'
" Jahers what a fat!" the waiter remarked. *1
he surveyed the monstrosity, for the man had
an enormous foot. At length, we may "Y at full
length, he gave it as his opinion that there wasn't a beet;
jack in all creation of any use for a " fut " like that. and
if the traveller wanted " them are " boots otf he `""I'l
have to go back to the fork in the roads to get them off.
Quarterly &erica, new number.