The Express.
London, England, 1858-08-07 00:00:00

SPORTING INTRLLIGENCR.

A SPECIAL EDITION of the "EXPRESS,"
eontaining the reran' of the day's Races, is pub-
lished every evening during the Sporting Season, at
six o'clock.

The seven City Joint Stock Banks having now
issued their half-yearly financial statements, it be-
comes interesting to examine the results.
The London and Westminster Back, established
24 years, has a nominal capital of 6,000,0001., of
which 1,000,0001. is paid up. The deposits, &c., are
returned at 12,443,7451., being 1,445,2761. less than
on the 31st of December last, and 1,469,3131. less
than on the 30th June, 1867. The reserved fund,
inclusive of 4,029!., added for the last half year, is
186,2041. The dividend and bonus just declared
are at the rate of 16 per cent. per annum, against 14
par cent. per annum for the previous six months.
The London Joint Stock Bank, established twenty-
two years, has a nominal capital of 3,000,0001., of
which 600,0001. is paid up. The deposit., &c.,
amount to 10,287,623/., being 449,9611. less than on
the 31st December last, and 410,9071. lees than on
the 30th June, 1837. The reserved fund, inclusive
of 2,8031. added for the six months, is 189,8191.
The dividend and bonus just declared are at the
rate of 22} per cent. per annum, being the same
rate of distribution as for the previous six months.
The Union Bank of London, established 19 years,
has a nominal capital of 3,000,0001., of which
600,0001. is paid up. The deposits, current accounts,
&c., are 9,032,1341., being 613,7791. less than on the
31st December last, and 1,842,6081. less than on the
30th Jane, 1837. The reserved fund, inclusive of
16,0001. now added for the year, is raised to 1136,0001,
The dividend and bonus just declared are at the rate
of 15 per cent. per annum, making 15 per cent. for
this company's financial year, now ended.
The London and County Bank, established 19
years, has a nominal capital of 2,030,0001., of which
600,0001. is paid up. The deposits, &c., are
4,178,2831., being 644,8581. more than on the 31st of
December last, and 321,0021. more than on the 30th
of June, 1857. The reserved fund, to which no
addition has been made for the last six months, is
105,0001. The dividend just declared is at the rate
usual at this period of the year, via., 10 per cent.
per annum.

The Commercial Bank of London, established 18
yeas, kas a nominal capital of 1,300,0001., of which
300,0001. is paid up. The deposits, &c., amount to
936,0811., being 113,4331. more than on the 31st
Dee. last, and 1,6431. less than on the 30th June,
1837. The reserved fund, to which no addition has
been made for the last six months, is 75,0001. The
dividend just declared is at the rate of 6 per cent.
per annum. The dividend for the previous six mouths
was at the same rate.

The City Bank, established three years, has a
nominal capital of 800,0001., of which 300,0001. is
paid up. The deposits, &0., are 1,232,2501., being
138,8831. lees than on the 31st December last, and
4,0691. more than on the 30th June, 1837. The
reserved fund, inclusive of 2,0001. now added, is
30,0001. The dividend and bonus just declared are
at the rate of 8 per cent. per annum, against 5 per
cent. per annum for the previous six months.

The Bank of London, established three years, has
a nominal capital of 600,0001., of which 300,0001. is
paid up. The deposit and current account., &c., are
stated at 1,039,3321., being 53,4911. less than on the
31st December last, and 143,6541. less than on the
30th June, 1857. The reserved fund, inclusive of
3,3201. added for the last six months, is 8,0001. The
dividend just declared is at the rate of 6 per cent.
per annum. That for the previous six months was
at the same rate.

It is interesting to glance at the movement of the
deposits and current accounts. A comparison of
the figures now rendered with those extending to
the 31st December last shows an aggregate decrease
of 1,942,8731. Every one of the seven banks pre-
sents a decrease, exoept the Commercial, which has
gained 113,446/., and the London and County,
which has gained 844,8581. The increase in the btud-
now of the latter establishment forms one of the prin-
cipal features of the present series of returns. A com-
parison with the returns extending to the 30th June,
1857, exhibits an aggregate decrease of 2,339,9581.,
the exceptions being the City Bank, which has
gained 4,0591., and the London and County Bank,
which has gained 321,0021. The aggregate amount
of deposits, &e., now held by the seven banks is
39,188,4881., against 41,131,3411. on the 31st Decem-
ber last, and 41,528,4 W. on the 30th June, 18117.
We see in this movement the natural effect of the
decline in the rates allowed by the Joint Stock
Banks for deposits. The high terms offered
during the greater part of last year attracted
rivulets of capital from all quarters, but now
that two per cent. per annum is scarcely
obtainable, the power of attraction is diminished.
The alteration is the more worthy of notice because
from the date of the inauguration of this system
until the 30th June, 1857, the aggregate of deposits
le the even London banks had experienced an
annual increase.

From the material now furnished we have eons-
piled the following statement, showing in each cruse
the ratio of the paid-np capital and reserved fund to
the deposits:

Lilo of
Paid up
lotto of Lilo of Ovltal sod
Paid op Foamed iserrod
=duel to load to root to
Pt Ort. =et P;Ott
Landes sad Weetailodof 8 li
Loodoa Jaime Stook 6.88 1.84 7.67
Union of London
lAogloa sad County
Coatfoorcial
Bask
23.96 2.39 28.34
Bask of Laotian

This stslement, it will be remarked, is quite an
finder. to the rate of dividend declared in each ease.
The London Joint Steak Bank, whisk has the small-
est proportion of paid up capital, in relation to depo-
litk pays the highest dividend, whilst the Commer-
cial Bank, which has no less than 40 per cent, of its
deposits and current liabilities represented by paid
up capital and guaranteed fund, pays the lowest di-
vidend. It is of course by applying the profits derived
from the employment of a great mass of deposits to
dividend oa a slender paid-up capital, that so high a
rate of distribution as from 16 to 22k per cent. per
annum is attained.

On former occasions a great discrepancy has been
noticed in the amount of cash and Government
securities held by the several banks in re-
lation to their liabilities, but the difference is
now much leis marked. In cash and Go-
vernment securities the London and Westmin-
ster Bank holds 241. for every 1001. of de-
posits ; the Commercial and City Banks hold 271.;
the Union Bank, 281.; the Bank of London, 231. ;
and the London and County no less than 401. In
the case of the London Joint Stock Bank no com-
parison can be instituted, as this establishment con-
tinues to lump its cash with its loans and bills
discounted. We may remark that the mode
in which the balance-sheet of the London
and County Bank is made out is the clearest and
fullest of any, and that of the London Joint Stock
Bank the least so.

The general results deducible from these compari-
sons are satisfactory, and calculated to stimulate the
confidence of the public, for, as far u • judgment
can be formed from these bare figures, the operations
of all the Banks are conducted with prudence, and
due attention is paid to the retention of an adequate
banking balance. Whether this point would meet
with equal attention were the channels for the em-
ployment of money more open than at present, we
will not attempt to inquire.

THE public will receive with very general satis-
faction the announcement made in last night's
Gazette of Sir U/LIN CAMPBELL'S elevation to the
peerage, by the title of Baron CLTDE, of Clydes-
dale. The dignity has been well earned. The
Indian Commander-in-Chief has had difficulties of
all kinds to contend with, of which those to be
encountered on the actual field of warfare, though
great., were not the greatest. In spite of these
difficulties he has accomplished great things. The
_ _

insurrection—for such it had become—which he found
at so formidable a height, has been reduced to com-
paratively manageable dimensions, nor will the Bri-
tish public be inclined to sympathise with those jaun-
diced critics who find material for disparagement in
the care which Sir COLIN CAMPBELL has throughout
taken of the lives of his troops, or in the extent to
which he has relied on the combinations of a scientific
strategy. The British public will not easily forget
the consummate skill with which the garrison of
Lucknow was relieved; the considerate care with
which the retreat of the rescued women and children
was covered and guarded ; nor the decisive prompti-
tude with which, when the moment came for action,
the triumphant mutineers of Gwalior were chased
out of the entrenchments of Cawnpore. If it be the
truth, as has more than once been alleged, that
in the second advance on Lucknow poli-
tical reasons were allowed to interfere with
strategical, it is unfair to reproach the General
with any failure of plans the conception of which
may have been to some extent overruled by a supe-
rior power. And, after all, what has this failure
been ? Have not almost all the objects of the cam-
paign been successfully carried out with singularly
little lose of European life, except what has been
owing to the extraordinary heat of a summer which,
in all quarters of the globe, appears to have been one
of mutual intensity? It seems to be suddenly for-
gotten that the embers of so vast a conflagration
cannot at once be trodden out ; but unless our last
despatches from India excite& hopes not destined to
be verified, there does seem, at length, fair reason
to congratulate the country that the armed
strength of the insurrection is finally and
effectually broken down. For this result
we are mainly indebted to the comprehensive stra-
tegy, the inflexible resolution, and the quiet energy
of Sir COLIN CAMPBELL, brilliantly supported as he
has been by the able generalship of his lieutenants.
He has earned hispeerage. The baronetage announced
in the same Gazette as conferred on Sir JOHN LAW-
RENCE will less adequately embody the general
sentiment of public gratitude and admiration so de-
servedly entertained for this most distinguished
administrator. The public instinct, which in
these matters rarely errs, recognises in Sir JOHN
LAWRENCE the most efficient preserver of our
Indian Empire. If others have won victories,
it was he who organised the means by which those
victories were won. He created a base of opera-
done and extemporised an army, in a recently con-
quered province, any wavering in whose fidelity
would have been instantly fatal to the maintenance
of our rule. A peerage and the Governor-
Generalship of India would have been deemed
no more than the appropriate rewards for
such pre-eminent services as these. Sir JOHN
LAWRENCE, according to all ordinary calcula-
tions, has yet many years of active life before him.
Let us hope that the only honours which can fitly
requite him are but retarded for a season. In the
meanwhile he has that which no Gazettes can give
or take away—the deep-felt gratitude and esteem of
the English people.