The Express.
London, England, 1866-07-12 00:00:00

THE NATIONAL BANK.
(Establisbed 11106.)
Head Met 13, Old Brosd•rtreet,
Capital subscribed E. 2,500,000. Paid up J 11,600,000.
Rest or undivided pronto a..it170/17.
DIRECTORS.

James Allan, Fag. ________
J. N. McKenna, Fact, M.P.
George Ashlin, Esq. John O'Meara, Esg.
Jeremiah Dunne, Eaq. Albert Ricardo, Esg.
B. IL Hartley, Fay. itowand Ronald, Fag.
TB. Heushaw, Fag. J. Bogle Smith, Keg.
Mr Ralph Howard, Bart. Edmund Smithwick, Egg.
Thomas W Rough, Eag, 11. Usborms, fAq.
Harvey Lewis, Esg.,Philip Vanderbyl, Reg.
ABRIDGaD REPORT of the Directors of the NATIONAL
BASK for the HALF-YEAR ending 30th June, lade:—
The Directors of the National Bank have mach pleasure la
mftenting to the Proprietors their report of the state of the
&catty, wade up to the 30th June, Ikea The following accounts,
la the usual form, with somewhat more than the ordinary
atolls, will supply the Shareholders with the actual result. of
the half-year's operations:
ABIETh AND LIABILITIES.
THE
NATIONAL
BANK, 00th June, 1/166.
_ .

A 831719.
MBank of England A600,873 14 6
Gold and diver coin on hand
Bank of England notes, notes
of other banks, and cheques 250,899 16 3
,f 1,382,067 0 8
106,000. 16 0

Ceremment Stock and grebe:leer friW ......
Mato advanced for railway deposits returnable
in July 87,783 4 0
Advances on government stock and sundry
secured loans payable on demand 714,282 3 0
Loans on securities at short dates and on current
accounts
Bankers' guarantees and securi-
ties against acteptousces per
contra 42,481,847 8 9
Securities against acceptances
to all other customers

: 1,377,899 19 8

?.,691,847 6 9
Bib discounted
Bank premises in London, Dublin, and branches,
freehold and leasehold
Due by a sbarehokler on calls BO 0 0

A 10,507,23216 6

Notes In circulation
Due by the Bank on Deposits and Current Ac-
counts
Acceptances to Bankers' Drafts and on Security
as per Contra 2,601,887 6 9

Capital— 18,430,315 10 2
Paid-up 11,490,920 0 0
Dua on Cads per Coots t+o 0 0

Total called up £1,500,000 0 0
lector Ut.divided Pronts at this
data

6,067,917 6 4

810,807,212 18 8

PROM Ea) Loss ACCOUNT Or SHE NATIONAL BANK, FOR
Till ILLY-YEAR ENDING 311711 Jcbia
1868.
ha. Halt-year's Dividend at 8
per cent. per annum fOO,OOO 0 0
Extra Dividend, 16s. per
Share

LlOO,OOO 0 0
Balance, being the amount of Rest at this
date 667,91? 6 4

L 667,917 6 4

Yak or Undivided Profits at December,lB6s .... £.568,053 18 8
Profits for the half-year ending
this day, after writing olf all
bad and providing for all
doubtful Debts
1 rebate of in-
terest on Bills
aot due £27,413 0 0
Igsun sale of Do-
'eminent stock. 19,601 12 8

47,104 12 8

111,865 9 8

£067.917 6 4

J. O'MEARA,
.
Examined and found correct, JIL SMITH,R. RONALD
J. N. Mclie.NNA.
By the precedlug accounts the proprietors will observe that
the net profits of the Bank. for the half -year just closed, amounted
to /1111,663 es. nil , as compared wish g 54.416 13a. 10d., the
mount earned fur the corresponding half-year of 156..
Since these accounts were made up, the usual dividend at the
rate of s per cent, per annuneou the paid-up capital of the Bank,
aed the must extra dividend of 16s. per share, have been de-
clared; and the same will be payable at the head office and
branches of the Company on and after the lelth July Instant.
Olt is gratifying to the Directors to observe that the net profits
for the half-year just closed, after all deductions, exceed the
amount of dividend and extra dividend declared, by the aunt of
411,163 Os. Si,, and that after the payment of these dividends,
the rest or undivided profits of the Bank will stand at £467,917
Os. 4c1., as compared to 2.434,207 ila 10d. in Midsummer last year.
The Directors have been at all times averse to incur the risk of
prematurely advancing the rates of dividend, preferring to
accumulate their surplus profits as capital ; and should the
Wrive earning powers of the Bank continue to be main-
they will consult the proprietors as to the expediency of
Increasing the capital from profits, as on former occasions, and
In this way add gradually to the Income derived by the pro-
prietors from the shares.
dt is Onions that the profits of the half-year could have been
Pearly augmented. if the Directors had employed the large
cub resources of the Bank at the remunerative rates obtain-
able. but in the course they followed, the question of profit
yielded ultogether in the minds of the Directors to the more
6°114 voraideration of complete financial independence.
The surplus" gold In Ireland, beyond what is required by
the statute, was never so large as on the 30th June; the ex-
cess circulation over certificate bring no more than £72,736,
whilst the Bank's specie on hand exceeds that figure by £446.747.
The Directors Sincerely hope that the day is at hand when they
may again use their resources generally with confidence and to
Ike advantage of their customers.—Approved by the Court.
J. B SMITH, Chairman.
11. J. POWER, Secretary.