The Express.
London, England, 1867-01-18 00:00:00

!'ILEMENT THE CoLLIEI:,* .sriaKl: IN
.1 '4IITtp.V-C-‘DRR-LY.VE .4 ND DISTRICT.

\r a meeting of the eoalowtiers held yesterday,
resolved to give the miners the advance asked of
in the shilling on all work. l'erhaps no resolution has
n more satisfaction in this district fur many years, as
liscrC WkIN never such a scarcity of coal known. The miners
a di resume work today.

AND BRAZILIAN BANK (LIMITED).
(TIIIS DAY.)

Ile annual meeting of the sharehollers was
:a noun, At the London Tavern ; Mr. J. W. I'AIEK
.L;6• chair.

Th.. following report and !silence-sheet were presented :
•• The airectorssubmit to theirco-proprietors the accounts
sir Is audited for the half-year ending :filth June.
.ovounts show a balance in favour of profit and
::s...ard. Ins. 101., after w.iting off all losses
~•,.•vo to have r.eulted from transactions to that date.
i • • i.iois”aal out of the :shove net profit to pay a dividend
Le half.year of *-"!.11. 141. per old share, and of 3s. 91.
p. r new share. leaving a sum of 20,1:i5/. Ins. MI. to be
cat lied forward. 'rile directors would have recommended
increased dividend had they nut considered it prudent
to provide for any lows which may result from the pros-
sore "II the bank daring the financial crisis in Rio in the
Last year. The board have to report the termi-
nation of the negotiation for an amalgamation of the
with the establishments of Messrs. Maui, 3CUregor,
i'o., and Maui and Co. In anticipation of that amal-
r...it ion, and with a view of making the necessary exami-
nation of assets and adjustment of details, which it was
inipos,dhle to effect in this country, W. F. Scholfield, Esq.,
one of your director, and Mr. Beaton, your secretary,
procemled in August last to Brazil and to the River !late.
Vour hoard take the earliest opportunity of expressing the
high appreciation they entertain of the services which
these gentlemen have rerolered to the bank. In accordance
with the articles of association two of the directors, A.
Klocknistin atol Philip Charles Cavan, Esqm, now retire.
mol being vligihle, they offer themselves for ro-election.
In consequence of the death of .John Wormald. FAMI. the
directors asaitinell the responsibility of naming Charles
S. ymour F;sq., to net with C'harles Richard
ihirford. jun., Esq.. the surviving auditor • these gentle-
men now retire, and it will remain with th; shareholders
to elect auditors for the ensuing year.
_ . .

I: Joice.sheet, June 310. 18131..-1/r.: To capital paid-up,
; to deponits, 1,315.74:4 Ss. 7.1. ; to bills payable
:10.1 ..titcr liabilities. 3,BB2,ruirt/. 10s. ad. ; to reserve fund,
W e.; to proti t and loss, 88,748/. 21. ; t0taL1i.014%:172/.25.
1:y xpecie and cash on band or at hankers, 4490:22/.
1.1.: by bills receivable and advances on securities,
:..-.1:4,121/. 17s. 7.1. . • by unallotted shares, 18,375/. ;
1..,0,aunt set asi.le to meet charges, as per contra,
; total, (057,372/.
Profit and and loss account.—Dr.: To dividend to :10th
1 be.tether. 25,0011/. ; to charge' in London, 6,304/.
Va. 11.1.; to charges in Brazil, 1:..972/. pis. 2.1; to charges
in Portugal, 2.7.7:4 :is. :Id. • making 24,852/. 4.1. To
carricildown,3B,9o:i.ltia.lllXl.; total, 88,758C:fa. 2d.
l'r.: net profit to:10th December, 186500,91 W. :kL ;
by profit to :10th June, 1866, after deducting all known
10•,•,..s to that period, rebate of interest on bills discounted
mn .11).., and interest on deposits, :4%841/. 4s. I Id. ; total,
:M. ityhalance brought down, 3',11U./. lGa, 10,1.;
by reserve fund, 20.1100/."

The Cu %IRMAS, in moving the adoption of the report
and aca,u n ts, said, though the dividend was only 5 per cent.,
the accounts would, he thought, be considered satisfac-
tery. The sum written off amounted to 16,000 f. and but
for the acceesity of writing that off, the profits would
h ve been 49,000 f. That there had been some mile
management could not be doubted. Had the
ashes of the board been carried out such losses
coubl not have occurred, but it was difficult perhaps,
to do at Rio all that was required. The period for
the calling in of deposits was, indeed, reduced in ac-
cordance with the recommendation of the directors, but,
notwithstanding that, when the news of the disasters
in London bad arrived at Rio, the bank had
to pay 1,000,0001. in about 15 slays. The manager was
obliged to apply to the Ituik of Brazil, and the govern-
ment afforded assistance by discounting its own Treasury
bills. Relief was sent out from this country to the extent
of 175,010. in gold. The liabilities had now been reduced
by one-half, and special co 'asionere, who went out to
vimine the state of affairs, had reported that everything
was now in an easy position and that the future of the
huik was hopeful. The truth was people gene-
rally had been carrying on a larger business
than they ought to have done, and if that
bank had not had a larger capital in proportion to its
transactions than other banks in a similar position, it
would no doubt have suffered greater losses. The hoard had
reason to believe that the capital of the company was safe,
and that there was no reason to dread any future accounts.
Adverting to the proposed amalgamation he observed that
it had been put an end to by the baron himself, and read
a letter written to the baron by the directors in which it
was remarked that all that now remained was to di-
vide the expense of thu negotiations. The present
liability as regarded capital was only 750,000/. ; if
the amalgamation had taken place it would have been
3,•2000,000/., and it would have been impossible to say who
would bold the new shares : and, under all the circum-
stances. he congratulated the meeting that the scheme of
amalgamation bad been abandoned.
Mr. Kis-mum would be glad to know what bad debts had
come to the knowledge of the board since the :Ohba June.
The CHAIRMAN did not know of any bad debts. There
bad Men three failures in which the bank was concerned.
In all the bank had snore than sufficient security to cover
the advances, but in one of these cases the
debtor had left Brazil, and the board could not tell
what would be the exact results. To meet any possible
loss arising out of this but case 20,000 f. had been reserved,
but the directors hoped that it would not be required.
In reply toe question,
The CHAIRMAN said the board found by consulting
able counsel that the shares must remain for the
present in their actual position, but he hoped that a bill
would be pawed in parliament authorising the reduction
of the nominal amount.

la reply to a suggestion that the board itself Amid get
a bill introduced, as Lord Overstone last session easily suc-
ceeded iu throwing out a similar measure,
The CHAIRRAN said he thought it was best to leave the
matter where it was, as it was in good hands.
Mr. DRAKE (the company's solicitor) stated that a gene-
ral bill bad been submitted to Sir Stafford Northcote, hav-
ing for its object to enable companies to reduce the
nominal amount of their shares, adding, that no action on
the part of a single company could he successful.
After some further discussion the report and accounts
were adopted. A dividend of Va. lid. per old share and
of :ts. 'AI. per new share having been declared, the premed-
taps terminated in the usual manner,

Yesterday a meeting of colliery proprietors and
ethers was held at Wakefield, to consider in what manner
the proportion of the surplus of the Hartley Colliery Awl-
dent Relief Fund'allotted to the miningdistrietadYorkshire
should be appropriated. The amount, including interest,
is about 2,500 f., and a strong feeling has been expressed
in favour of the proposal to retain it in the hands Of
trustees as the nucleus of • permanent fund for pro.
litho; relief to the sufferers from colliery accidents.
There is also in hand • sum of about 0301. from the Oaks
Relief Fund of 1f147 ; and the two amount., it is thought,
might appropriately be devoted to this purpose. The
meeting decided to appoint Earl Fitawilliam, Lord Wham-
eliffe, and Viscount Halifax trustees for receiving' the
Hartley surplus, and a committee was chosen to decide
definitely on the appropriation of the fund.
MR. T. 11. Porten, M.P., AT ROCHDALS.—Last
evening Mr. T. B. Potter addressed his constituents
in the Public Hall, Rochdale. The Mayor (Mr. Robin-
son) presided. The large ball was densely crowded.
Mr. Potter, after referring to the various subjects brought
before parliament during the last session, said he was
present in Rochdale on the :11st of March last, when
the corner stone of the Town-hall was laid by their dis-
tinguished townsman, Mr. John Bright. (Cheers.) As he
drove through the streets on that occasion he wit-
nessed such a demonstration and enthusiasm which gave
the lie to the calumnies—(great cheering)—which
have been heaped from various quarters upon the head of
Mr..folin Bright. (Cheers). Those persons ought to be
pnsent on the 30th inst., when the people of Rochdale
would present Mr. Bright with an address. Let them
judge with their own eyes, and hear with their own ears,
eat then they would see if Mr. Bright was popular here
Or not. Mr. Henry Kelsall moved a vote of confidence in
Mt Potter. Mr. J. L Ashworth seconded the resolution,
and it was carried unanimously.
RANO( ET TO Vlscou it MOCK.—Lord Monck
has written to the Mayor of Portsmouth (E. Emanuel,
stating that it will be convenient for his excel.
h.r.cy a. accept the hospitality of the mayor on Wednesday,
the .sith inst.; and we understand that a banquet wall
he Oven to his lordship on that day at the King's
Rwsos, Southsea. The Mayor of Portsmouth has in-
nte.i several dietinguished personages to meet the Go-
‘‘rnora :eneral of Canada, also the members for the
homugli. the southern division of Hampshire, the naval
naiitary authorities, the magistrates, and the corpo.
r.tien of Portsmouth. His worship intends to invite
ladies, and about 400 of both sexes are expected to be
j.teient.
Itcr,,nu DEMONSTRATION AT BRADFORD.—Last
It.iing the Bradford branch of the National Reform League
held a iainquet and demonstration in St. George's-ball in
that town ; Mr. A. Illingworth, a local reformer of ability,
linen, and position presided, and amongst the speakers
Mr. kildwin Smith, M.A., Mr. B. Langley, Mr. E.
Alderman Carter. Mr. R. Kell, Mr. Alderman
Mr. Alderman Otalwin, kc. The resolutions
t.i.;el the meeting to the political programme of the
Aviond Reform League.
En's Cotaxoz.—Yesterday The Christmas
: t• rminated with the return of the lower boys. The
aral sixth forms arrive at the college to-day and to-
' ,rrovr, l'y which time the whole of the scholars will
11,t assembled.