The Express.
London, England, 1866-01-18 00:00:00

METROPOLITAN AND PROVINCIAL BANK

(LIMITED).-(THIS DAY.)

To-day the eighth ordinary general meeting of
the above bank was held at the London Tavern ; Mr. C.
Git.eix. M.l'., in the chair.
The following was the report :
" The directors have on this occasion to congratulate
the proprietors on the position of the bank, as exhi-
bited in the annexed statement of account.. After provi-
sion for interest paid and payable, for all bad and doubtful
debts, and for expensed of every kind, there remains
a sum of 11;.521/. 10i. la, out of which the directors
propose to apply 92.5/. in further reduction of preliminary ex-
penses; to pay a dividend at the rate of five per cent. per
annum, free of income tax, which will absorb 8,1921. 15s. ;
to place 2,5001. to the reserve fund, increasing it thereby
to 10,0001. ; and to carry forward -1,9631. los. lid, to next
account. Since the last meeting, certain changes in the
board have been made, and the rtoprietors are now asked
to confirm the appointment of Mr. it. A. Boyd, of London
and C3rk, and of Mr. John Romanes, of Dunedin House,
Sydenharn, who have bean duly elected directors. Mr.
David Bowden, director of the Laadon and River Plate
Bank; ID. John Audio Moore, director of the Equitable Life
Assurance Society ; and Mr. F. J. Sargood, Director of the
National Bank of Australia, have also accepted seats at the
board, and confirmation of their election will be invited
hereafter, when they shall have held the necessary qualifi-
cation for the requisite length of time. Messrs. Thomas
Miers, Francis Nosh, and T. S. Richardsoo, who retire by
rotation, offer themselves for re-election. The directors
have to report with deep regret the death of their
esteemed friend and late colleague. Mr. James Morrish.
The auditors, Messrs. Henry Chatteris, and Arthur
Cooper, retire and offer themselves for re-appointment-
The small amount of calls unpaid (2651. on a capital of
117,42 e/.) notwithstanding that the last all was due only
three mouths since, shows hew well the shares are now
held. The dividend of 10a, per share on old shares, and
84. M. per share on the new, being at the rate of 5 percent.
per annum, will be paid on application at the chief office, 75,
Corehill, or at any of the branches, on or after Thursday,
the 25th instant.

Relance-sl;eet, 30th December, 1865. -Liabilities.-
Dr. : To proprietors' evil, .1, 337,4•20 t. ; to reserve fund,
10,0004 ; to deposit and current accounts, 641,572/. Is. IL;
to acceptances against security, 21x,1961. 17s. lid. ; total,
R;0,065/. 18s. Bd. ; to balance of profit and loss after payment
of dividend, 4,9031. 15s. 60.; total, 1,212,3921. 14a. 2d.
Cr. Assets.-By cash in hand, at Bank of England, and
at all, 125,591/. 16s. 6d.; by consols and ileben tures at coat
!Mee. 76,303/. 151. ; by interest accrued on same,
1,208/. 15.. 3d. ; total, 203,1041. 6.. 90. ; by bills dis-
counted, loans, and current. accounts, 765,472/. 91. 30.;
by stamps, 3581. ls. ld. ; by calls unpaid bearing interest,
5;514 together 766,095/. 7s. 44. ; by bank premises (head
office and branches), 12,746/. 2e. 7d. ; by preliminary
expenses, 11.9501. ; by securities held against ac-
ceptances, 218,496/. 17s. 64. ; total, 1,212,3924 14e. 2d. ,•
Profit and Less.-To current expenses, head office sod
blanched, including direetore fees, salaries, rent, and other
expenses, 7,2871. 13s. 31.; to interest paid. 7,147/. 15s. 51.;
to dividend at 5 per cent. per annum. 8,1921. 155.; to pro-
Portion of preliminary expenses, 9251.; to amount carried
to reserve fund, 2,5301. ; to rebate, 4,1364 6s. 2d.;
to unappropriated balance of profit and loss, 765/.
,91.48..; together, 4,9031. 15s. 64. total, 30,956/. 19s. 2d.;
by balance from last account, 1,837!. 3s. 21. ; by gross
Profits for last six months, after providing for all bad and
doubtful debts, 29,119!. 161. ; total, 30,9561. 19a. 2d. ; by
balance to next account, 4.9034 15s. 6d.
" Reserve Fund. -To balance, 10,0031. ; by balance from
Lit account, 7,5001. ; now added, 2,5004 ; total, 10,0301. ;
by balance to next account, 10,6301."
The CHAIRMAN, in moving the adoption of the report,
"Intatulated the meeting on the excellent position wbieh
the bank had at length attained. Although they had now
I dividend of only 5 per cent., they had obtained vomit&
Public nonfidenee that their position would no doubt con-
tinua to improve. The bank had not made a bed debt of
104 in the last six months.