The Express.
London, England, 1867-07-16 00:00:00

THE EXPRESS, TUESDAY EVENING, JULY 16, 1867.

LATEST SPORTING INTELLIGENCE

(sr razassra.)
NOTTINGHAM MEETING.--(THIS DAY.)

TRIAL SWUM Ow mile.
Moreaca f. Buckingham f, Merry Monarch (mold for 6001.
each), Plunder, Lady Barbara, and Anchorite (2001. each).
All are here.
COUNTY AIEMBFRS' PLATE. One mile.

Maid Marian, Vici,Bedfold, &D7 inchcrile arelicre.

BRADGATE lIANDIOAP, One mile.

Vixen Zlic;ietn;i,ite-a-y,audVTei are hero.
NOTTINGHAM HANDICAP. One mile and three
quarters.
Beadle, Knight Errant, Whirligig, Numa Pumplike,
Primrose, Vici, and Harpenden arc here.

ROBIN HOOD STAKES. Six furlongs.
Contempt, Cuckoo, Sarah, Dulcet, and Sm. to Maid
Marian are here.
STAND PLATE. Half a mile.

Pantaloon, Ma. Stratton, Problem, Plunder, Contact,
Maid Marian, Traviata, Bedford, Dulcet, Lady Barbara,
and Northern Star are here.

THE I.IIPERIAL BANE.-(THIS DAY.)

This day the ordinary general meeting of share-
holders was held at the London Tavern ; Mr. Alderman
Less, in the chair.
The following lathe directors' report :
" The directors beg to submit to the shareholders the
half•yearly account and balance-sheet to the 29th June
last, and the auditors' report thereon. The amount of
profits, less interest paid to customers, is 31,976/. lls. 4d.
Of this sum, after paying current expenses, providing
for bad and doubtful debts, allowing rebate on
bills discounted not yet due, there remains a
balance of 18,1014. sa. 3d. to be appropriated. The
directors propose to apply 13,500/. to payment of a divi-
dend for the half-year at the rate of 6 per cent. per
annum, free of income-tax, and to carry forward 4,6.
sa. 31. to credit of profit and lose new account. The ge-
neral business of the bank, taking into consideration the
inactivity in commercial affairs, has been satisfactory,
and there has been within the last six months, a consider-
able increase in the number of current and deposit accounts.
But against this prosperity of a permanent character,
the directors regret to report a loss was sustained by the
bank on the last day of the half-year, of 19,0001., which
occurred through overpayment of an account, and
though it has so recently occurred, the directors have
thought it desirable to deal with it at once, and they
therefore have placed the amount to the debit of the re-
serve fund. The directors trust that this course will
meet with the approbation of the shareholders. It is
proposed that the dividend be payable on Wednesday the
24th instant.
" Balance-sheet, June 29,1867.—Dr.: To capital paid up,
448.9101. to amount due by the bank on current deposit
and interest account, 1.072,4484 7s. Ild. • acceptances,
90,862/. 18e. 9d., making 1,163,311/. 6s. ; to reserve
fund, 64,000/. ; to redemption of premises fund, 543/. ; to
balance of profit and loss account, 31st December, 1866,
4,229/. 14e. 104. ; to gross profit for half-year, 33,655/.
7s. 811., together 37,87:1/. 2e. ; less interest paid to cus-
tomer!, ~,902/. lls. 2d., leaving 31,976/. 11s. 4A—total,
1.708,,,(1. 18s. —Cr. : By Consols, India debentures, and
City bonds, 52,450/. ; by bills discounted, loess to cus-
tomers, Se., 1,360,744/. ha. :id. ; by bank premises, fur-
niture, and fixtures, 22,144/. 14e. • by cash in hand, at
Bank of England, and at call, 272,i849/. 18s. 9d. ; total,
1,708,770/. 18e.
"Profit and loss account.—To current expenses, in-
cluding salaries, directors' remuneration, income tax, and
allowance for bad debts, 10,472/. Os. ld. ; payment of
dividend at the rate of 6 per cent, per annum for the last
half-year, 13,500/. ' • rebate on bills not due, 3,396/. 6e. ;
amount carried to profit and loss new account, 4,608/.
Is. 3d. ; total. 31,9761. Hs. 4d. By amount brought
down, 31,97 W. Ils. 4d. ; total, 31,570!.11e 4d.
" Reserve fund.—By amount, 64,000/. ; written off,
19,0001. ; total, 45,000/.
The CUATRII.III, in moving the adoption of the report
and accounts, said that on the day the meeting was fixed
he had no idea that he would have anything more to
say than that they were going on in the even tenour of
their way. But they met with a loss (ram a quarter
from which they little expected it. Perhaps he should
use a stronger term if he were to characterise the tran-
saction properly. (Hear, bear.) The loss was crested in
'this way. A customer of some standing and a member
of the Stock Exchange on Friday, the 99th of last month,
drew a great number of cheques on the bank. He drew
19,0001. more than he paid in. They would say, " What
if he did ; you had no right to pay the checks." He had
no excuse to make, except that they had not looked into
the accounts as they should have done. Theireonduct was as
slovenly and careless as the conduct of this individual WAS
bad in motive. (Hear, hear.) A committee of five
directors was appointed to examine particularly in this
transaction. The whole system of the bank would be
examined, and no stone left unturned to prevent such
an occurrence again. They placed this 19,000!. to the
debit of the reserve fund, and he hoped the shareholders
would approve of that mode of dealing with the
loss. Though cast down by this matter they need not
be dismayed, for they had a good London business
and the nucleus of a iirst-rate one. He believed they had
commenced by paying too high a rate of interest, viz., 8
per cent., and recomm nded the policy of providing a
larger reserve fund.
The motion having been seconded,
Mr. Sarre inquired how it was that the auditors found
the accounts were correct in the face of a loss of 19,000/.
(Hear, hear.)

Bosom said that on the 28th June this person
paid in cheques to the amount of 8,0001.; he
withdrew securities of the value of 10,000/. ; and he
drew cheques on the bank to the amount of 17,682/ ,
which were paid in the cleating-house. The auditors made
• special report,and recommended that the loss should be
borne out of the money applicable to dividend. He threw
the blame of the loss on the directors. (Hear, hear.)
Mr. X meta expected to hear from the chairman that
the negligent clerks were punished, and that proceedings
were taken against the person guilty of the fraud.
(The meeting was going on when we went to press.)

NATIONAL RIFLE ASSOCIA TION.-I THIS DAY.)

Ever since Saturday thunder, wind, and rain,
have been the constant accompaniments of the meet-
ing, and this morning, leaving out the thunder,
formed no exception to the rule. In consequence of the
almost continued heavy falls of rain, the camp in many
places is very like a bog, and to assist locomotion from
one part so another planks have been Lid over the worst
places.

This day is specially devoted to very important corn-
petitions—one being the second stage of the Queen's prize,
at 800, 000, and 1,000 yards, to be shot for by the GO bust
shots of the first stage, one of whom will be
the absolute winner of the Queen's Prize of 2'io/. and
the gold medal and gold badge of the association. The
second important competition is that of the public
schools, for the honour of holding for • year
the Ashburton Shield. It has been won and
held by the Harrow School for two consecu-
tive years, and a member of that school also won
the Spencer Cup, which is shot for by the boy who makes
the highest score on the part of the school in the
competition for the Ashburton Shield. There
are this year the following schools entered for
the competition :—Eton, Harrow, Manchester, Chel.
tenham, Marlborough, Rugby, and Rosaall, and this com-
petition always excites great attention and attracts a
numerous and fashionable company, but on account of the
state of the common, it is feared on the present occasion
the number will be exceedingly limited.
In consequence of the boisterous wind not a single
flag was displayed in the camp, and some of the tents
were expected to be carried away by the force of the gale.
It is reported that Mr. Edward Ross has made 21 points
at 800 yards for the Queen's Prize, and Mr. Walford 24,
the highest possible score to be made.

SUBMARINE TELEGRAPH COMPANY.
(THIS DAY.)

At an extraordinary meeting of the proprietors,
held at the London Tavern We afternoon, Sir J. Car-
michael in the chair, resolutions were passed authorising
the laying down of a new line of telegraphic communica-
tion between England and Belgium, in accordance with
the convention entered into between the company and the
King of the Belgians, on the 6th of November, 1861 ; and
for this purpose increuing the capital by the issue of
35,0001. 7 per cent. preference stock, in addition to the
present capital of 265,000/. ; the first dividend on such
stock to be declared at the meeting to be held in Feb-
ruary, 1868. The chairman stated that great advantages,
direct and indirect, would arise from the new cable.

THE SHEFFIELD AUDIENCES AND THE
RECENT INQUIRY.

The Sheffield Independent publishes the following
letter from Mr. William Overend, Q.C., the chief examiner
at the late inquiry at Sheffield. It is called forth by the
following passage in a paragraph of the Pali Mall Gazelle,
which was quoted by the Times and some other news-
papers :—" The roars of laughter with which the audience
us the Sheffield court-room received the confessions of
outrage and slaughter."
"To the Editor of the Sheffield Independent.
" High Hades, Sheffield, 13th July, 1867.
"My dear Sir,—ln answer to your letter, in which you
direct my attention to the passage in the Pall Mall
Casette, which states that the audience at the late Trades'
Union Inquiry received with bursts of merriment the
recent frightful disclosures, I am bound to say that it is
impossible to have written a statement more thoroughly
at variance with the truth than this. The conduct of the
audience, during the whole investigation was, without a
single exception, the most orderly and creditable ' • and it
was an unintentional omission on m 7 part, that I did not
thank them before concluding our sittings for their quiet
and reputable demeanour. You may make what use you
please of this letter.—Yours sincerely.
" W1LJ.1.1.31 OVERKNO."

WEATHER. REPORT.-(THIS DAY.)

TCMAT. JULY 16, 8 Lit

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