The Express.
London, England, 1866-04-30 00:00:00

r.ca•

THE STANDARD BANK OF BRITISH SOUTH
AFRICA (LIMITED.)-(THIS DAY.)

The fifth ordinary general meeting of the pro-
prietors of this Company was held at the London Tavern
T&J.
The report stated that though the profits during
the half year have been satisfactory, considering the
cautious and restricted business transacted, the
lowa Incurred through the severe and nnprece-
dented commercial crisis in the Cape colonies during the
early part of last year, and other exceptional causes, have
not cely aboarbed these profits,but made it necessary again
to encroach on the reserve fund to the extent of 16,0001.
It is consequently with regret that the directors are unable
on this occasion to recommend the payment of dividend.
Notwithstanding this crisis, the general business of the
bank has been so conducted that, except fort e lases by
the default of local directors at Port and Coles-
berg (where colonial banks were taken over in 1863), the
bad debts incurred would have been of comparatively
mail amount. Local boards of direction, *re their ser-
vices have not already been dispensed with, have
now been placed on a different and more satis-
factory footing, and the directors look forward with
undiminished confidence to the future of the bank.
Whilst fully alive, however, to the importance of retain-
ing none but remunerative branches, the directors are of
opinion that, under a proper system of supervision,
branches may be rendered of great benefit to the leading
establishments of the bank. With the view of still
greater efficiency the general manager has been in-
structed to see to their frequent and thorough
inspection by a competent officer. It affords the
directors pleasure to bear testimony to the great ability,
seal, andenergy displayed by Mr. Stewart since he assumed
the general management at the Cape. To his indefatigable
exertions they believe the bank has been carried through
a period of great trial, and placed on a sound and
permanent basis."
The CHAIRMAN said the report would have informed
them that the directors did not think it desirable
to recommend a dividend for the half-year. This
was not from any new or adverse cirownstanoes,
but simply as a means taken in majtmertion
with the better prospects of the bank ; it would
tend to ppaat the bank on a more satisfactory footing.
The now directors, not being satisfied with the information
they received rom Fort Elisabeth, determined to
appoint a general manager for the bank, and to that
us owin that the bank was saved from great
disaster.disaster.M g_ e arrived at Fort Elizabeth at the bginning of
1866, and he found on arriving there that the interests of
the bank had been sacrificed to those who ought to have
tected it. He could not enter into all the details. He
was not himself at the bottom of the mystery, but this
mach he could gay, that had the then general manager sent
information to the general board they would have been
able to stop the course that was being adopted,
and the logs that had been incurred. Mr. Stewart's
first set was to limit the transactions of the bank to those
of amend and legitimate character. He then applied
himself to obtain securities for former loans, and with such
acmes that there now remained only 73,392/. which could
not be recovered. The whole of that amount had been pro-
vided for, and had been written off to profit and
lam without touching the capital. True they had
keen obliged to entrench on the reserve fund,
but they had still 11,0001. of the fund to carry
forward. They knew the worst of their position, and this
was the whole of their loss. Their prospects were now
brightening, the drought which had so long prevailed was
at an end, rain bad fallen, and that had set the whole
trade of the colony going. Then the rise in the price of
wool had given great stimulus to trade. The Cape was
not a new colony ; it was the largest wool exporting country
in the world, and it presented great facilities for profitable
banking operations. lie concluded by moving the adop-
tion of the report.
Mr. EDINBOROUGH seconded.

In an to various questions,
The Outsmart said he fully expected they would be
able to pay a dividend next year.
Mr. KINTRA said looking at their balancewbeet and oon-
littering the value of their business, he took a sanguine
view of the prospects of the bank. The report stated that
Mr. Thomas Stenhouse offered himself with Mr. Torrance
for re-election. Mr. Stenhouse only returned from Bombay
on Saturday and ought to have been present at this meet-
ing if be desired re-election. He should object to
that gentleman's re-election. He suggested an amal-
gamation with the South African Bank, which he thought
would result in preventing rogues out there from vic-
timising first one bank and then the other.
The CHAIRMAN said the name of Mr. Stenhouse was
inserted as being re-eligible, because the articles of
association declared that those directors who retired were
to be assumed to be willing to stand again. With regard
to the proposed amalgamation he thought an amalgama-
tion was desirable, yet he did not think it would be well
for this company to propose it.
A SHARCHOLDICR cud this was the younger institution
and ought to make the advance.
Mr. NICIBII, a director, strongly advocated an amalgama-
tion es being to the interest of the two companies.
Mr. WREATHS believed that a large number of share-
holders in the hank would reciprocate the desire to amal-
Thee.
discussion was still proceeding when our reporter
l eft.

WESLEYAN MISSIONARY SOCIETY.

(THIS DAY.)

The annual meeting of the subscribers and sup-
porters of the above society was held this forenoon at
Exeter Hall; Mr. J. T. FERNLEY in the chair. Every
part of the large hall was densely crowded. The meeting
having been opened by prayer, and after a brief address
from the chairman,
The Rev. Mr. Onuorove, the secretary, read a moat
voluminous report, detailing the operations of the society
for the past year and its present position, of which the
following is an abstract:—The receipts for the year are
so follows : Home, 101,549/. 7s. 3d. ; foreign,
32,5101. 12s. 11d. ; from jubilee fund, 11,825. • making
a total of receipts of 145,8851. Os. 2d. The home
receipts exhibit an increase of 3,934/. over those of
the previous year. The expenditure has been 143,7077.
be. 9d., leaving a balance of 2,177!. Ils. sd. The contri-
butions received for the jubilee fund upto the present time
have been 137,000/. The m ssions now underthe direction of
the committee in Europe, India, China, Africa, the
West Indies, Australia, Canada, France, Ireland,
be, number G6l, with 4,800 chapels or preaching
places, 981 ministers and assistant missionanes, 1,383
catechists, interpreters, and teachers, 17,834 unpaid
agent., or Sabbath school teachers, 145,091 church
members, 13,297 on trial for membership, 152,284 day and
Sabbath school scholars, and 8 printing establishments.
Since the last annual meeting 28 missionaries and 14
Mesa of missionaries have been sent out by the society
to France, Germany, India, Africa, West Indies, Australia,
and Canada, and seven missionaries had been removed by
death, including the Rev. Mr. Draper, who perished in the
London at sea. There have been also five wives of mis-
sionaries deceased.

The reading of the report occupied upwards of one hour,
after which the meeting was addressed by a great number
of leading Wesleyan miniAters, and at the close the report
woo received and ordered to be printed.

SOCIETY FOR PROMOTING CHRISTIAN KNOW-
LEDGE.-( THIS DAY.)

The Archbishop of Canterbury presided to-day
at St. James's-hall, at the first public meeting ever held b
the Society for Promoting Christian Knowledge, although
it was established so long ago all 1698. From a brief report
of its proceedings which was presented, it appeared that in
1785 it began to circulate the Bible, either giving copies
away or selling them to the poor at low prices. Between
April, 1864, and April, 1865, it issued 182,424
Bibles and 156,353 New Testaments. It also prints
Bibles and Testaments in foreign languages, that people in
distant lands may read the Gospel in their own tongue.
In 1705 it began to distribute Prayer-books as it did Bibles.
In 18434,65, one year, it honied 5015,681 Prayer-books. It
also prints the Prayer-book in foreign languages. In the
first month of its foundation the five members subscribed
to pay the cost of printing religious books and tracts. In one
year (1864-65) 5,781,261 books and tracts were issued from
its depositories. In has granted Bibles and Prayer-
books for service in churches and licensed rooms,
books for schools and lending libraries, and tracts for distri-
bution to nearly every parish in England. It has helped to
endow colonial bishopncs, to build colleges and schools,
rind /ranted books for their use throughout the colonies.
On its first foundation it began its missionary labours.
The late Bishop of Calcutta, Dr. Wilson, called it " The
Promotive Missionary Society of India," so great were the
efforts made by the society,especially in the southern parts
of India, where its missions were established for upwards
of 100 years. In 1701, finding that the work of missions
generally grew inconveniently upon its hands, it formed the
Society for the Propagation of the Gospel in Foreign Parts.
The Society for Promoting Christian Knowledge, however,
continues to render spiritual aid to a large extent to the
colonies and dependencies of the British empire. Amongst
the published list of speakers at the meeting may be men-
tioned the Chancellor of the Exchequer, Mr. Gathorne
1{&*01. M.P., the Archbishop of York, the Bishop of
(Ward, the Bishop of Brisbane, Sir R. Phillimore, Q.C.,
the Rev. Dr. Kay (late principal of Bishop's College, Cal-
cutta', the Rev. Canon Miller, D.D. (vicar of Greenwich),
the itev. W. G. Hnmphry, B.D. (vicar of St. Martin-in-
the-Fields), and the Rev. James Moorhouse, M.A. (incum-
bent of St. John's Church, Fitzroy-square).

Describing the scene at the declaration of the
in the House of Commons on Saturday morning,
the Tines says :—" Conspicuous on the government side
were the cheers of the liberal members who had opposed
the bill, and who vied in their manifestations of delight
with the members of the opposition."
Messrs. Blackwood will shortly publish a new
novel by Miss Evans, entitled " Felix Holt, the Radical,"
the action of which takes place about the period of the
agitation immediately preceding the passing of the first
Reform Bill.