The Express.
London, England, 1859-03-19 00:00:00

fill OTTOMAN BANK.

Subjoined is the directors' report for presentation
to the general mead's of ehireholdere, to be held on the
23rd of Meech :

;ThedTreTtcra announce with Orator* that the half-yen
ending 31st December shows a salefectory creole. The m-
ama of the now loan upon the exchee has added consider.
ably to the profits daring that peered, and it cannot be
doubted that when the memuree for the restoration of the
currency to a healthy condition shall hare been folly carried
Mar effect, an increase from the rams source will aocrue to
the profits of the bulk. While the present profit*, therefore,
are is some trent augmented by cireumstances of an exeep-
tionalchatraterr, the shareholders will learn with satiefection
that the current commercial Munnetra of the bane continues
to expand. The directors have seriously oensidered the vari-
ous poaposela for the establishment of a National Bank of
Turkey. They have at all times expressed to the Ottoman
govetnutent their seediness 10 comperate in the formation of
each an 'saltation, provided that ea Watery arrangements
could be made for securing t s the Ottoman Bank a sufficient
control in its direction, to =sere the application of those
mtwiples which they believe to be frontlet to the financial
internee of Turkey, and ce the protec ion of their share-
holders. Should the see bank. ea at present proposed, mac-
Geed fa gaining the public coofidenee, he fortified with a
suflideet capital, and be kept tree from islisesece which
hays fathom been so prejudicial to Turkish finance, it case
not fail to exercithe a beneficial effect on the commerce of the
country, and, emuericestly, on the permanent position of this
bank. The repa-a received tram melt. general manager, We.
}.bonnet, assure the dirratys that the errangementa for the
withdrset al of the depreciate:l peprr cu•rency, by eradication
of the funds derived from the loan, are duly proceeding in
accordance with the argyeturntsentered iota by ateTudrish
government. The rah and loss account shows a net balance
of 68,2361. Ts. al. The direcrom propose to wyta off the re-
sidue of the raelbninery_ eapemer, amounting to 5,0001., and
to add a aim of 15,0061. to the thane fund, making a total
of 36,0001. to the credit of the latter wows% The directors do
not forget that they have previously suggested the bellolllo of
the reserve at the tate of 10,0001. ter enflame ; bra they
ma hare no &tart of the resent of their rhafthisidare to ex-
coed ouch an amount, when exctptional Orosemtheres like
the proem sited an oppottunity for strengthener:es_ the post
-
tan of the balk. There will then remain 38,5081 Ta 4d.,
out of which the directors recommend that a dividend shell be
deleted for the balf-year at the rate of Bpa rest. per
annum, tog.thrr with a Donna of 12e. per share, leaving a
balsam 01 3,2361. Is. id. t) be carried forward to the next
secant. Three of the ditectore,—rix. : James Alexander,
John Anderson, and Arthur Haskey, Esquires—retire under
the wringee of the deed of satilenteet ; the two Ora named
gentlemen offer themeelyse for renlatioe. Notices hens
hies received from Sir William Chey, Bart., and Mr. J. R.
Race Godfrey, of their intention to offer themselves for seats
the dimetion. Mr. J. B. Coleman and Mr. R. Trade'
Ailliuon also oar themselves for re-election ea mntors."
TM ntWeellent cillabi tries red aunts to Dec. 31, 1866, is
se follows:

aiTi7lee.—To aapi.al, all irt d up, 680.fe11/.; mom
Maud, 20.0001.; bide exas atnoon.s due by the
hank sod Ito Isrunebes on dep.-its cad curtest •coramta,
1,516,3•541. h. ltd.; profit end loss, 682361. 7s. 4d.-
1,1174,6961 16e. 84.
A•oots.—By nod in hood in London end at the berthas,
194,7611 Is. iftd ; aft of caching. aid troraleaery soles,
ditto, 6611,0171. ISt. 84.; batmen clue b. the huh is ereetent
aseoniVe, tad tonnezion with retoltnnute of Turkish kali,
411,4161.8 a. id. ; low and atonsities, 1121,7761. 111.
knititeitt pessiess, Imitate, 3c., is leaks sad at the