The Express.
London, England, 1858-01-15 00:00:00

ths ultirr Juirz.

GENERAL MEETING.-(TE18 DAT.)

•
This morning a general meeting of the share-
holders of the Unity Bank wee held at the Londe. Tavern,
Mr. Kant, the governor, he the chair.
The sessting wee very amorously 'Mena. The chair-
men an directors, on entering the room, were greeted with
Mint manifestation of applause.
The Mowing report end balance-shin were laid before
the to :
" I. The directors present to the shareholders a statement
of the nibs and oondition of the beak for the prig be-
tween the 30th of April and 31st of December, Leer. 1.
At the lest meeting the pot doe bills aneenned
shoot 12,0001., end the directors were led i be. that the losses on theme would sot ben=
S. &an ct these bills ha ' , however, lees Mpg
sag, ia albite. • loss halm aim ea ear
bib sad Isms, white chary ledieMs& imememselal maw
want, ter lbeelme hit k nessesere make=r4imees
of the lia ageolesmis et She bee& gm-
thmusi-whe bed themeelme bear opellied
mist el hadmes.esei=. areemisomat •
Urge sum val be 19 WWI% NM II le
=that bed ies.unl, limpreved meneginnen& be
to vary metheale erase t. & mar OM the
idneholder: may haw the mad mil=swi of the
wry amens MII ba ben ft mine&
mbeak.d the nosh them the khans elm& I.
117 Uth valuetlen ehereholders will be ebb to judge el
the Ware lellisselg behate-shect nadir Os taw mimeo-
mat. 7. The mesa rigid enemy bee beta faded In
demeteamt. and the simmer mid Ihmilme have
ellm
the isselpt of thir sera emamm mil the brim of
the Immlt bee sheen a preleilis melt &It le grelltyl eg
le know MM. In thee of ell the WNW= dreasleases
'disk the leak hos bat to 1•00111111iir, tie armilier dit
easlemme bee ant norm Merl as might hew been =psis&
9. la the man el llipmeloor last the aid= almll6ll,
le e cum sbles of Adz tit Mee lined ism-
ballissA, the Wolk lewd ion, sad osemens d lholsak. All
aye mgpidems nob Is the &veton by dig seleadtbse ere
big mid spa The IMlNlbers of the emmitise ere
ems et this memos. 10. The dtreetoes here r.ahwea the
beat mar Me meg est, 30 end 21 Viet._ ~ e. 4 11. The
dlsseeure smilset MM the grimly diminished stemma-
Owe int, the net half-year, add 11 the Improved ma-
asgemss& will he,. a mrphm, of profit.
J. J. Meow, Governor."
" Behan that of the Unity Joint Stock )l ar=
Assaadra, 31st December, 1857:-Dr. To
mill-up =OW 150,0001. ; amount due co caveatmad other
anon 139,7'741. 10e. lid.; profit and lode, balance brought
from Ism amount, 2,4161. 4e. 104. ; less iromet at 3 per
cent. paid en capitol, es per resolution at genmal meet.
tog, 11111. 8.. 114.-3761. 160. 11d. ; profit, ober perasat
of intend lo customise, 8,0381. 11.. UM. ; t0ta1,2911,111111. ltio.
Stl. Cr. 17 prelimisory expense, ae per UM wpm,
AMU. Us. ills
• owl. ual parent to Mr. T. H. Baylis
(Min wlll cease 1n 1869), 1,0 M.-29,8821. id. ; Invest-
17.4ban premien freehold at Brighten, 1:8.,
1. 9s. M. discounted and loess to custemare,
141,4811. 17A 41.; pest doe bills, 40,6391. i. (of this moat
the dinettes het eendemat that 11,0001. will be recovered;
lentos the noire of the acentere of several of the bills are
laveetlptiom letheCoortonlankruptcy, or bang wound
tap under Inemettlen, thoyborre deferred wring off any portico
until the eeriest emseat that will be realised ma be
amenelmed) ; comet =pews at chief olllee and breaches-
mein Ac., 471. 14.. 2d. ; advertising, 3321. la. 44. ; isle
rimy 4,6981. Be. 3d. , hone expenses, 2621. 19e. 104. ;
dentin, 2261. 6. 2d. • law chargeo, 1,0711. 12s. 24. ;
481. 3e. ed.; rent ed taxes, 7,9921. 64. 85.
3131. 15s. 44. ; travelling, 621. 34. 4d. ; loss on wand pre-
mises, 64e. 9s. 94.-10,1291. 19e. lid.; cash In hoof,
49,3391. Be. 3d..' total, 298,1891. 18.. Id. Profit end lies
Account .-To carnet expense at chid aloe sad branch's,
10,1291. 193. 11d. • by profit, after payment of Weems to
customer 8,0381. Its. 101.; balance of proM end lon last
account, 3761. Ifte. 1 Id. ; Warn oenled forward, 1,7141.
12s. 24.-Total, 10,1291. 19a. lid.
v We, the andeteigan have examined the foregoing hoboes
sheet, and compared the Items it comprises with the several
books end vouchers !elating thereto, end have found the
same to to correct.

(dived) WILLTAM GOOLD, )Augik,re,
" W. 8. horns,
" Unity-bulldiags, Jan. 9, 1868."
The Govitanox, In moving the adoption of the report,
observed that unless the proprietors had the tallest oonfidenoe
is the direction, the bank could not succeed. During the
moat peak) the directors submitted the whole •ffairs of the
hulk to • committee of shareholders, and the chairman of that
committee would state to the meeting the result of their
iaveetigation. Did the directors not think that the bank
would ultimately succeed they would not hesitate to
recommend the proprietors to wind up, which, in
other words, would be to submit to the en-
tire loss of their tiepin]. They were, however
thoroughly convinced that the future of the bank err
i
ebseeteg, and that it would, under the new management,
yWd • handsome profit. The par failure of the
wee attributable to two causes : —first, the
enorsous expenditure in the shape of preliminary
wad secondly, the mismausgansat of late
want of proper supervision had led to the
main of may bed debts. The overdue bills under the
ell management eked thus :—Chief ofike, 34,8321. •
Western branch, 4,4821.; Brighton, 1171. ;
1.1211.; and Watford, 61. During the last five
maths of the existing management the over-des
bills had amounted to only 7004 at the chief office and
branches, sod it was estimated that the lose on these would
not exceed 3001. (Cheers.) As regarded the future, there
was the best reason for believing the expenditure
would not exceed 8,0001. ; ante next year perhaps ft would
not exceed 6,0001. ; but before he proceeded further, he
would call upon their general manager, Mr. Terry, to state
his opinion upon this point. (Hear
Mr. Tease maid during the five mouths ha had beau to
ilike the receipts of the beak were 1,0001. • month, and the
outgoings 1,2001.; but this expenditure included some ex-
traordinary and exceptionable charges. Supposing that the
receipts c rationed at 1,0001., the income of the next Mx
months would be 8.0004, while he estimated that the rpm-
diturs would be 4,2501., leaving • profit of 1,7601. (Cheers.)
The Horror:oat, in continuing him address, remarked
upon his personal connexion with the bank, and observed
that, with the exception of ono director, who owed
the bank 4001., which wee amply secured, be himself was
the only member of the board indebted to the
hank. But his position was peculiar; he obtained no so-
commedation from the bank beyond what any other bank
would be glad to give him, while he was a large holder of
shares in the bank which be had taken up when the
shares were falling to a very ruinous discount. He bad
got rid of the liabilities of his shrievalty end his
west end establishments, and he could now afford
to pay the bank 3,0001. • year and continue
to hold his shares for the benefit of his children. If the
other shareholders would only have the same confidence in
the concern, if they would only bring their acooun'a to the
bank, he was satisfied the bank would soon pay • large
dividead. (Cheers.)
Mr. CUTIIbERT, Chll.lll3lall of the committee of investiga-
tion, in seconding the motion for the adoption of the re-
port, attributed the present depression in the affairs
of the bank to the want of support on the part of
the proprietor.. This neglect awakened the rapi-
d= of the public, and compelled the directors
to keep a larger halloos In hand to meet the calls of de-
positors than would otherwise be required. Daring the
monetary crisis three•fifthe of the deposits had to be kept in
the till insteed of being profitably employed 'Umbers.
Mr. HINDI, of Moucheeter, had the Meet confidence in
the integrity of the governor, but he thought no director
who was connected with the Unity Fire or Life Offices
ought to be upon the board of management of the sank.
He therefore eared r an amendment, "That this meeting
hanng heard of the serious loose, oustained by the L nity Bank
believe thse,to • great extent, such looses are the result of feat-
nation and the want of due supervision on the part tithe board,
who have oonecrinently ceased to pones, the confidence of
re shareholders."

Mr. i;p:Jt IBowra (a director) declared that this
amendment was dictated by interested motives. For his
ewe part be held twenty shares in the ccecern,
and kept large tistances at the Bank. He had
much to lose if the flank failed; but be believed
an hie soul that it would prosper, and he, with the
other Directors, were prepared to stand by it, if the
=rso would only stead by them. The directors bad
themselves that not • shilling should be lest to
any of their depmatre, and shmald it ever become necessary,
which wee not likely, they would close the bank rather than
let it molt M a toes to the politic. (Cheers )
Mr. W. H. Hitt, who announced himself se • clerk In •
large mercantite firm, said he bad the fullest confidmice
in the direction. He should be glad to know what wsa the
effect of the Bank being registered under the new act.
The Govanxits mid it would prevent ahareholdere from
bring sued in the event of the bank being wound up or eon-
tributing beyond the extent iif their holdings.
Mr. Jotter, the representative of the Jamey shareholders,
thee obtaining some explanation from the chair relative to
romanta, mid be had more confitence in the mace= than
ever. Ono of his qmetions had reference to the Brighton
Branch.

--The Gov r it:eo a, la reply fag to the latter question, said
the freehold as Memo art upwards of 10,00 W„
red ft was asaidarod to be • clpital lantern's&
lima The bran& had paid all throes*
astwitharraig that it was opened ou the very day that the
Royal British Mak stopped. That was saying • good ANL
(Haar, asi sleigh)
11r. HINDI &seed that he was actuated by the m min"
aNdholad to hiss by Mr. Bowyer", and to show 'hat he was
ask bs add he via sow ready to withdraw his arotadetesst.
(Clara)
The so leanest was they withdrawn, and the original
noahlion ourisd.

Mr. Cunt Paw moved a rate of tha•ks awl confidence to
dr sad directors, which woo assantod to by seda-
ns Gammon, In ficknowkdaing ir mpliatent, eaii
be devotee wee time ad dietitian to *a bask than to