The Express.
London, England, 1859-07-11 00:00:00

UNION DANZ OP 4U8T14L11.-(71118 DAY.)

This afternoon the twenty-tiret annual general
=thaof the providers of the flaky Beak of Australia
t at the Beak is Old Broed-errest, Mr. Cumrva,
&airmail of the baud at directors, ha the chair.
. . . .

The repel regretted that the saeoute win not each as
to werrant the lemmata( the herr dividend : at the sane
thee the transactkee of the year had been highly satisfactory,
an the rethinks of pecan was the result of the connected
trade of the ooloales. The bannorelesse was as follows
At the Wenches, es the slat Dermilier, 1858, and at the
London office on the 3002 lane, 1859. Liabilities.—Circula-
tion, 697,6011.; Deposits, 2,811,8441. lie. 6d. • bills pay-
able, and other lialolitkie (feeludiog bills for collection and
reserves held against doubtful dependencies), 20{9,2051.
I Is. Id ; btlanceof nadir ided profits. 87,0731. ; reserve
fond 200,0(.01. ; name held applio.ble thereto, in terms of bat
report, 110001.; eantal, 1,000,0001.; total, 6.766.6351 le. 18.
Assets Specie on land, end a& balances, 937,1661. 2a, Id. •
Rellion, 27,1781. Ile. Bd.; bank premien end moped;
96,7081. 16e. 6d. • goverment ',Rarities, 191,7001. Bs.;
local bills, kW receivales, and other secnrities (including
belle for collection), 6,304,8821. 7e. lid. ; reserve fond,
invested es per setement, 200,0001.—Total 6,766,6261. Is. Id.
Statement of Probe:—Balance of undiede t profile at Jane,
1868, 87,0991. 12e. 6d., out of which a dividend was declared
of 81,0001.044 ring a balance of 6,0991. 12., 6d. ; to which
ST3 now to be added the preen of the pelt year, London
the
branches on the Slat December, 1868, and at the
Offios on 30th hies, 1859, vie —Fur half-year es reported la
J 5n.,1859, 94,2141.4 a. Yd., ditto, now reported, 83,1 M. Si. 3d.
t *rather, 177,3371. 12a. 6d. ; lase names len paid,
3,3631. 9e. 3d. • carried out, 173,9741. 3s. Id. • doled
amount of televise paid to proprietor*, at Cisistise, 1868,
92,0001'; leaving a ant balance of undivided petals at tide
date of 87.0731.76.. 7d. Reserve Fund—New Three per
Cents., 176,0001. ; New Z elind Inverts! Four per Coat.
Debentures, 26,0(01.-200,0001. The directors neardeended
that 80,0001. of net balanceof undivided moats should be new
divided being at the rate of 8 per neut. for the hell year, paya-
ble in London, free of income tes, and in the coining, with
the addition of income tax.

The CHAIRMAN observed that the dividends of the bank
bad varied with the prosperityof the colonies. Tim dividends,
in fa* had nerd from 40 to 18 per out. but at prevent
the bank had to contend on the one hand with increased
competition; and on the other, it had to submit to redactions
on account of interest payable on deposits, which was quite
• new feature in colonial banking operstiime. At the same
brat, nothing could be more satisfactory than the solidity
of the Auatralien trade : the reports of the inspectors were
highly eatisfactory, as the looses of the bank were repre-
sented to be insignificant, compared with the magoitude of
its transactions; and though there wee a diminished divi-
dend there wen a coanterecting element in the solidity and
improving prospect of the bank, lie had therefore, touch
pleasure in moving the adoption of the report.
The motion having been seconded,
Mr. WI tettersore complained that the dividenda were un-
duly disclosed to members of the Stock Exchange, and
et:pressed his belief that this mast be owing to
some breach of madame in some quarter within
the hank. A week ago the dividend was sold on
the S-ock Exchange for 21.6 a. per share, and Mill later It
was offered for 21.7 e. fld. Now there must be some channel
by which the secrets of the directors oozed out, and he hoped
the board would give their attention to the ',abject.
The CII•II.NAN attributed this knowledge of the Stock
Exchange to natural and justifieble salculation, rather than
to soy breach of trtud on the part of anyone connected with
the intoned alleles of the bank.
In reply to a gouda's,
Tao CHAIRMAX said there was no intention to apply fee
any additional charter, or to Next to the Limited Liability
Act, which does not apply to the colonies. The amount of
the capital of the bash was more than intact, sad likely to
remain so, and any protective eassestre, each as that of a new
charter, or the ion of the liability, would be
only a delusion. liability of the shareholders could
not be more limited than it inset precut. Every precaution
and security had been taken on that heed.
The report was thee adopted uneniturusly ; after which
the dividend was deplored payable in London on the 26th
hesitant, end Mesas. Smith and Dalgety were re-elected
directors. Mr. W. Murray, of the firm Of Murray, Son, sad
Nutchins, errs appointed solicitor to the bank.
The proceedings eloped with cordial votes of thanks to the
chairman, dimmest, and °Sickle.