The Express.
London, England, 1858-07-16 00:00:00

THE EXPRESS, FRIDAY EVENING, JULY 16, 1858.

THE riIIITY BANI.-(THI8 D 47.)

This morning the second annual meeting of the
;Jetty Joint Stock Mutual Banking Association was held at
the London Tavern, Alderman fiscal in the shale.
The following was the report :
The directors present to the shareholders e full sate-
meat oldie operations of the bank for the half-year ending
the 30th Jae last. Although, contnuv to the expectation
Mi their lost report, there is not a surplus of profit
rreri In
payment of the working expenses, yet there ts an
hamomming on the het half-year's profit end lose balance;
end when the severe ordeal the bank has gone through in
the interval la fairly t then Into amount, they think the
result should not disappoint the shareholders. They oon-
fidently call attenti,n to the &mouse of profit realised with
Marcely a bad debt, which the present management has
effected as an earnest of what the probable result would
have been, if it had not had to 'oaten& not rely with the
low rate of discount and general atognatics d trade which
has prevailed, but also with the disturbing /Sot en the minds
of the monomers and the public, by the admen &Seeks of
vertigo who once were connected by office with the beak.
The direcbm, however, relied on the empathy and sup-
port of the proprietary in the onexiccled difficulties as they
arena and have now the pleasure to acknowledge how
=they appreciated the vote of confidence and oppro-
In their favour, expressed by a public meeting of
sitsielsolders called for • contrary Ingest, where more than
200 were present. The directors having had under their
eamfal consideration the effect of the loss of pecuniary
shength by the amount of the peat-due bills., se shown by
the hot belance-sheet, and in order that the bank might be
prepared at all *trues to give adequate accommodation to
metonym, and to support public confidence in ae.sono
of pressure came to a resolution to increase the
paid•up capital to 200.0001., by calling up 60,0001.
They are gratified in being able to state that nearly four-
fifths of the first call have been received, and that they have
full reliance upon the further calls being also equally well
inst. The prudence of their decision to Isrtease the paid-vp
capital has Men evidenced by the testimony of public opinion
from the time it was annonnoed, and they believe that
the step, although perhaps toopreesidented in the
I history of Joint Mock banks, bee tended to, and
will permanently sotabliab the bask. The progress
of the branches at Brighton end b Isioester-pow,
slum the last meeting, bus not dimppointed the
expectation of the directors. The bashers of the Hertford
Breach has been transferred without loss. It is not pro-
posed to open any more branches, and the two now working
will continue to be watched with careful vigilance. The
strictest economy has been observed In each department,
and the workinx expellees reduced to the lowest possible
extent ; some portions, however, of the Cannon• street pre-
mises remain valet, for which the directors hops speedily to
find responsible tenants, and this still further lessen the
expmditurs. The amount of the past due bills has been
Mimed 2 7884 since the last meeting. The directors,
although diaappointed In this particular, feel that the
gradually getting he of such debts is no little advantage
to the thareholthve, sad should not be overlooked In
their estimate of the last half-year's °pored= of
the bank. In this, at well as In other duties con-
nected with the interest of the bank, much time
has been devoted by the directors, and a most rigid su-
pervision over Its affairs has been exercised, but se unanimity
of feeling and MLitt is an essential element of success, they
sib for the cordial co.operatlon and moistence of the
e6sholders, and hope that, ere long, the mutual principle of
the institution will realise the beat wishes of the shareholders.
The retiring director is T. C. Hayward, Esq., who being
eligible, offers himself for re-election."
The following is the balance-sheet t
" Dr. To °Heiml capital mild us, 160.0001.; amount
received on account of call due MaylB, 11,3061. ;-161,3051.
Amount due on current and other aomeate, 103,4471. 7.. 4d.
balance of Interest account, after payment of interest on cus-
tomers' balances, &e., 3,4171. 19e. 6d.—todal, 268,1704 9J.
Cr.: By preliminary expanse, as per last report, 29,8821.
16e. 6d. ; lose on meshes at Pimlico, 1.933/. 3e. 7d.; ditto
Exeter, 2724 Bs. 44. ; ditto Beef 291. 16e. 2d.-3ZIIBI,
3.. 6d. . • investments in bank premises (freehold) at Brigh-
ton, sire.,., 24,6371. 3..; past-due bill., 37,7701. 14.. 6d.; cur-
rent exposes of chief office and branches, 4,2191. 14e. •
balsam of profit and loss account, as per Salt report,
1.7111. 12s. 2.d. ; bills discounted, and loans to customers,
193,679/. 14e. 94. ; cash in hand, 34,2301. 4. Ild.-167,8091.
194: M. Total, 2683701. 6s. 9d. _ _ .

PI ITT Awn Lost ACCOCNT.—Dr. . To balance of
last 'mount. 1,7141. 12.. 21.; current *epeeists of chief
office and branches, 4,2191. 14a. Total, 6,9341. 6e. 2d.
Cr. By 'malacca of interest account, after pavement of
Utmost on elastomers' balances', &,., 3,4171. 19.. sd. Defi-
ciency, as per report of 31st December, 1867, 1,7141. 12s 2d ;
ditto on operations daring the pant half year, of which 3.501.
are eztraordinary cheriot, on clotting the Hertford brawl',
ate., 9011 14s. 7d. , balance carried forward, 2,6 W. 6a. 9d.
Tettal, 6,9341 Bs. 2d.
' " We, the undersigned, have examined the foregoing
balsam 'beet, and compared the items it comprleet with the
ameral book+ sod vouchers relating thereto, and have found
the woe to be correct. (Signed) W. Got.l.D and W. B.
AUSTIN. Auditors." _ _

VITRVA;, 111 moving the adoption of the
briefly reviewed the career, the present position, erns ther
future prospects of the bank, and especially congratulated
the abereholders upon the reduction both of the working a-
pemen end of the amount of past doe bills.
Kr. CITTE BUST 1011.17diti the motion, and called attention
to the efforts which had been toads to rain the institutica;
bet which ft had happily been able to withetend.
After some &Kari= with respect to the pregriety of a
tenekey audit, and a iniggratioo from Dr. DAMS, that the
directors should wind up the conaten, the report 111111 Moped.
The retiring diremor. Mr. Dar ward, wee re-eledwil, me wee
Kr. Doted, the retiring auditor.
Kr. Bnpwood wee elected as an additional auditor, and
the meeting terminated with the usual complimentary voter.

&ZARB L1878.-IHIB DAY.

Two o'OLooc.

The railway sham market to-day though in-
active Is firm. Caledonian Stock has again advanced
being last marked, 78h. Great Northern Stook
has also risen to 101 to 102. London and Noat

Western stock is now quoted 89h to 90;
Great Western, 491 to 1; Midland, 921 to
; Lancashire and Yorkshire, 91 to ; and Eutern
Counties, 12 3-16 to 6.18. The North Eutern
stocks are again better. Midland continues in. he
TOUT.

Great Western of Canada shares remain firm.
Grand Trunk of Canada are rather more offered.
The Brazilian lines remain steady.

IP
EH
Vi I

BRITISH

Ilb. IN. I Zhavars. I

iMille
, pa.

_ -
IN al =OIL lap=
, 110 OIL
ni. -.2
11 s Do.h.P. "11 les Ise
is 41 Do. da. D i_ I ;1:10
014 Bra; Lake limmo.lll L; T • 1
IP VP arn,Lkstaiiisswiske2
67
IN PP &-IWL ‘4:0o a P
100 PO Da. Jaw 1. ale_ 4 76
60 M. 4010611000611. _ Ol6
10 b. Ogie Tows a Doak Obb •" PM
U t bib&•
.. ...--. ...I ow
w s cwwwussi
I/4. PI TAP ..... -... 184 la 1001 RI.
w 6 Ibuilaa IL
ft Jawwww.. -
1411 .I Do. 46 D.A Db.. pot X ••• =
Ma r. 4111, Iti 401. 17 se
810
808 Mods - ;5 T 25 411 PI 18 R l'i
g: 1 t PR &germs 76 711
..11110a o.wo
4.1901.10aa # S lb
11: 16
c4t. la arg=46:: lope al Its
Vii.
Di 6 Do. 0w.....--.. ws PR
90 II Da. lb.
so • /tad la.bia,oad Glad PR 8 _PI
2.. .v. 1.0:........., pi 1., A.. lir
1:: 2 ttbarii4;l:
it do. 09 isa 108
IP all Da. TS, wltaosa op. 104 106
ISO all Do* we. 96..909M 661 100
II Ell Kuban ant. 46 par ant. Is If
Mr :'...i.-c.::
1 I p.. 441... all I.
Ift. mow.sca, i be pie
ID If
il9 I)o4l.Vranhautt. 1 It
t
Is. Lot 116 m.
a **wow. sw. =a.
: I D. ,:.. I 1 t
w, . D0rd...... 6 40
16 1 ilarly 1 MN 5 gm
11011114116 WIWI/WHOM
ib I Pd.l Lumina I Maim; prima 1 OWL
to an Amway. 110p0r.4 pro. .... ...
a all balorded Irmo low el oo oo
a an Da. Xvir 6 moot
ID all a 4 maw sp.st ..
a 01l gi.Sely i war ireaL . .-,
_# all G. I.mrboarnikpor witil
so MI Do. MEW atm if I 175
Vossllos II DAL
:41 il VlECHolost. = =
ill iN0:891..t. ill 11l
m. 4 n pi
so
3 ......c ..h....L...--.
.3. . per ant - -
w 3 swasw bawl yr* lOl 111
all Mbar 11mw0914 0.000 ... -
00 el LI/LW. allarso3o.4 lOl 111

jilt Ili

MONEY NARIBT-22718 DAY.

Two o'CumL

The funds' remain firm at yesterday's improve-
meat with only a moderate amount of badness.
At one period a fresh advance of / per cent. was
temporarily quoted. The government broker has
made his usual purchase. The other markets are
well supported, and some classes of English railway
stocks show a farther improvement.
Consols for the 6th of August, after advancing to
951 to 4, are now quoted 961 to 4. For money the
present quotation is 954 to 4. The Three per Cents.
Reduced have been dealt in at 951 to ; the New
Three per Cents., at 964 to 4; the New Two-
and-Half per Cents., at 791; Bank Stock, at
222 to 223; India Loan Debentures, at 991
to 1 ; Exchequer Bills, Much, at 345. to 36..
prem.; ditto, Jane, at 21.. to 245. prem; and Ex-
chequer Bonds, 1859, at 1001.
Foreign stocks remain firm. Turkish Six per
Cents. have advanced to 951 to 1. The scrip of
the New Brazilian Loan is quoted fto die.
Sales are recorded as follows :—Buena Ayres Six
per Cents., 81; Belgian Four-and-a-Half per Cents.,
100 (exchange 25 fr.); Dutch Four per Cent. Certi-
ficates, 1001 ; French Three per Cent. Rentes,
88fr. (exchange 26fr.) ; Mexican Three per Cents.,
191 ; Portuguese Three per Cents., 1883, 481
to 45/ ex div. ; Russian Five pet Cents., 1121 ;
Sardinian Five per Cents., 8043 Turkish Six per
Cents., 951 ; ditto, for account (July 30), 051; ditto
Guaranteed Four per Cents., 1041; Venezuela Five
per Cents., 381.
At Paris to-day (Friday), according to
M. Renter's telegram, the Three per Cent.
Rentes opened at 68h. 35c. for the account,
showing an improvement of bc. compared with
the latest price of yesterday.
The prolonged dulness of theParisßourse continues
to excite remark, bat is generally attributed to finan-
cial rather than political considerations. The large
subscriptions to the new French railway loan cer-
tainly indicate no distrust of the stability of the Im-
perial institutions or of the sagacity of the govern-
ment es regards its foreign policy. All French se-
curities have long been prejudiced by the never-
ceasing issue of new securities and by the incessant
demands for capital for public works. Even the new
railway loan of three millions sterling now on the
market must determine sales of existing securities.
Meanwhile the firmness of the English funds de-
notes that the projected visit of the Queen of Eng-
land to Cherbourg is viewed with satisfaction, as
affording strong public evidence of the permanence
of the ethanee between the two nation., in spite of
the recent subjects of irritation.
About 8,8001. in gold was withdrawn from the
Bank yesterday for exportation. It is thought that
the 405,3001. in gold brought by the Royal Charter
will be delivered to-day or to-morrow. As the
138,108/. in gold, which is on the way to South-
ampton on board the Teviot, will also come to hand
during the next two or three days, it is believed
that some amount will be sent into the Bank, the
buyers of gold for the Continent not being able to
raise so large a sum at such short notice.
At the Bank yesterday the applications for money
were very limited, but in the open market a good
demand was experienced, the current rates for &st-
elaes bills being 21 to 21 per cent. In the Stock
Exchange short loans on government securities were
obtainable at the low rate of 11 per cent..
The City of Baltimore, from New York, has
brought 15,8341. in gold, which will be sent to the
Continent.

Accorduig to present appearances, the shipmentsl
of silver for Calcutta and China by the steamer
Colombo, which will leave on the 20th instant, will
not exceed 50,0001. or 60,0001. The amount would
probably be somewhat larger but for the scarcity of
silver in the London market.

The Peninsular and Oriental Steam Company will
not despatch a steamer from Southampton on the
26th inst., with passengers and specie for Bombay,
owing principally to the circumstance that the voy-
age of the last outward Bombay steamer resulted in
loss. The despatch of a steamer on the 26th of the
month does not enter into the service prescribed by
the company's contract with the government.
The steamer Imperador has arrived from Hong
Kong, with 239,4001 be. of tea.
With reference to the proposed legislation upon
the subject of bankers' cheques, wo are requested to
give insertion to the following, the accuracy of
which can be vouched for :

With reference to • paragraph in a mousing journal of thfs
day on the bill iotroduoed by the Attorney-General " for
legalising the crossing of bankers' cheques" (which has
been dose by 19 and 20 Viot., c. 25, parsed the 23rd of
June, 1866), it an hardly be the arse that the Bank of
England and Messrs. Glyn sad Co. are fully prepared to
meet all the liability proposed to be thrown upon them by
the bill in question, se Mr. /Immo& Henke'', the De-
puty Governor of the Bank, bee a notice of motion on the
piper to postpone the consideration of the bill for sin
months, while It is farther generally' known that the Bank
is quite opposed to that portion of the bill especially which
web to . impose upon bankers liability in respect of a cross-
leg which does not mist upon the cheque at the time of its
presentation.
Mews. Glyn and Co. signed the petition against the MR,
in conjunction with other City and West-End bankers, to
the number of 43.

At a meeting of the British Telegraph Com-
pany a resolution has been passed authorising
the voluntary" winding np of the undertaking,
under the Joint Stock Companies Act of 1866-67.
The Eastern Comities Railway traffic return pre-
sents this week an increase of 3021. ; the Midland
a decrease of 1,4221. the South Eutern a decrease
of 1,0381. ; the Lancashire and Yorkshire cn in-
crease of 41. ; the East Lancashire a decrease of
4271, ; the Manchester, Sheffield, and Linoolnahire
an inereasepf 881. • and the North Eastern a de-
crease of 1,8021. As regards moat of the principal
lime a decided improvement is observable.
The following circular has been issued by
the London agent of the Geelong and Melbourne
Railway Company:

86, Cannon-street, City, Lasko, July 15, 1855.
Bir,—Adverting to my *ear, aid 2led alb, I beg
mow to acquaint you that the tell jolt Mimed has sot
brought me a remittance for the baud Mimed due at the
let feet. The secretary write*, under deb 15th May lee*,
" I much regret to inform you that do board Is not In a
poultice to provide the aviary with Illes *Ms to wet the
debenture bitten which will fall dm es the lit at next
July. The negutiatione with the esimilel for •
transfer of the hoe being still gems tie were tent- I
porartly precluded from any Nem Oak exhibit
pmat
powers Washita to improve dub ' mildew. The
menus at the company, thsegb entilMtbr emidendis
imvement, could not be elpeeteil le meet Ile =lsdl
capital account until their aussaahatiti Wee
by the opening of the Meibeeree eeel is do Itsa. Maar
these circuteateeces I have susglimilla sesiel to sill •
neating, which has been dem Ms V Peon•666lloforok
as under, sad at which par ausrlieee le aeopeAleilly re.
qteeted.—(Signed)-Bmecur. J. Cocas, Ilaseese idiot
The meeting referred to, which will mat ii
both share and bond holders, is to be held OR art
22nd inst. The subject to be specially °enslaved
is " the proposed transfer of the line to the salimial
government, with a view of determining if say eM
what further steps should be taken to efthot such
arrangement on the moat eligible terms to the Eng-
lish proprietary."
The particulars are published of a number of bonds,
representing 38,6001„ of the Brazilian Five par
Cent. Loan of 1843 (Empire Fund), which have
been drawn by lot, and will be paid off at par on the
lit of January next.
The market for American securities is described
by Mears. D. Bell, Son, and Co., as unchanged.
The colonial wool sales oommenoed yesterday.
There was a large attendance of buyers, and prices
may be quoted at an advance of from Id. to H. per
lb. upon the average prices of the May and June
sales.
There wee very little alteration in the indigo sale
I yesterday, but the biddinge were scarcely co 'ni-
-1 mated.

Tainummy EVIIIIIIM.

The tendency of the stook markets today was
more favourable. The funds opened with ilatnear.
at a further reduction of 1-16 to i per cent., owing
to the news contained in the Bombay telegram; bat,
1013113 large bona Me investments being effected, in-
eluding one of upwards of 100,0001., besides the
usual purchase by the government broker, an up-
ward movement at once set in. Aided by an addi-
tionaLpurchase of 60,0001. Consols for the account,
the market remained firm throughout the afternoon.
and the closing quotations were I to t per cent.
above those of yesterday. The large arrivals of
gold and the continued ease of the money market
operated on the favourable side, but the chief support
was derived from the renewal of real investments.

In the share markets firmness likewise prevailed.
The principal movement was in English railways,
which were favourably affected by the bond fade
absorption of stock indicated by the settlement now
in promo,. Stock is thus rendered unusually scam
in the market, and speculative purchases are en-
couraged.
Consols for the 6th of August, which closed yester.
day at 931, opened this morning at 95, " buyers,"
and gradually advanced, closing at 961 to For
money the lest price was 951t0 1. The official busi-
ness report is as follows :—Three per Cent. 000•
solo, for money, 95, 941, 96), 961, 96)1 ditto, ibt
account (6th August), 96, 96), 961, 961 ; Three pet
Cants. Iteduced, 961, 961, 961 ; New Three per
Cents., 95), 1, f, 1; Bank Stock, 222, 223; India
Stock, 918 ; India Four per:Cent. Debentures, 99),
991; India Bonds, 18e., „las. prem.; Three-and-n--
11a per Cent. Exchequer Bonds, falling pyabte
in May,1869, 100).
The New Two-and-a-llalfar Cents. were also
officially marked 78) and 791.
The March Exchequer B. were firm at 335. to
375. prem., and the June at 21e. to 245. prem.
In the foreign stock market there was no striking
' alteration. Turkish Six per Cents. experienced a
slight improvment, closing at 96) to f for the new
account (30th inst.) The Guaranteed Four per
ICents. have advanced to 104) to 105. The scrip of
the New Brazilian loan, after being marked k
dia., improved in the afternoon to to
Anglo-Peruvian Four-and-a-Half per Cents. were
also more inquired for.

MMES.-THIS DAY.

Two o'CLoos.

The mining market exhibits no symptoms what-
ever of a revival of buriness. Scarcely any trans-
actions have taken place to-day, the attention
of the dealers being occupied with the settlement..
Prices are nominally unaltered.
Foreign and colonial descriptions likewise present
no movement worthy of notice.
The second ordinary general meeting of the
Stratlutlbyn Mining and Smelting Company is
called for the 30th inst.

Whrel TAW .111 sample on the 231111ne1. about M tons of ore.
At nharl Lae% la tho 30 sat of the mem Melt Ws lode Is IFOre
for tin 201. per fathom.
At bomb Oarn Brea to the 63 &inns east of the Aahrod Mat tbe lode
I. tututm cut 1 ton of ore pat fathom.
At Ornat South Tedder la the 30 mat of Idiot shaft the lode is reef
much imp-ored, 7, feet nide, prododas 4 ton pet fathom. fa trie
etas. Nolan; below the 70 the 1 as Is oho preamble 4 tom per fathom.
Thu Mops and pitches are looking web
Prom Wen &met the seem reports (July 13) as foliose :—" In Or
ISI wet the tole to Ikm wide, ebb occasional Ames of ore. The
101 coat producer nonce of ore. In the rinse rinktmi ambr We 94 the
ludo I. 2 feet nide. producipp 1 ton of ore pre fathom. In the bi mit
Iclo Ie 3 fret sac. unproluctim; the mare lend men predates li
ton. and tito Mori under the 751. precinct...a 4 tons of ore pot fath ms.
Ceram lodet—The rise to the bock of the 73 medusas 1 ton ; the E
wan. 2 tom; and We Mast doting under the 111 about 3 toss of ore
Afsthom."
At rt Clara arm (Jolf In. la the both of the miss Met the
Tale Is 18 BAs wide, composed of gonna and wpm: ore—. Mel
promising