The Express.
London, England, 1859-05-24 00:00:00

NATIONAL BANR7ITIUB DAT.)

Thin afternoon the 24th annual meeting of the
proprietors of the National Bank was held at the bank in
Old Broad•atreer, Mr. FOWLER Nrwotx, chairman of the
board of directors, in the chair.

"Theacoompanying accounts show the result of the trans- ,
actions of the bank for the year ending December, 1858. i
First,—From the profit and lose amount it appears that ,
there remainod as real, or undivided profits, at December,
1857, 104,7921. 2s. Sd.; to which has been added the
net profit for 1858. after writing off all bad and
providing for doub.ful debts, 89,3271. 16s. 61., less
rebaYs of into rest on bills not due, 16,124/. ; together,
73,2031. 16.. 61.; add for profit on male of remaining
shares reported in May, 1858, 5,9721. ; total, 183,9671.19 e. 2d.
Use half-year's dividend, at the rate of 6 per cent. per
snow, paid in August, 1858, 15,0001., and also bonus of
16e. per sham 15,000!.; together 30,000/. Leaving at December
1858, a rest or amount of undivided prate of 163,9671.19 e. 2d.
There has since been paid, In February, 1859, to the pro-
prietors a dividend at the rate of 6 per ceeeizer, annum, with
a bonus of 154. per share, amounting t to 30,000/. ;
by which payments the rest or undiat profits bare been
reduced to 123,9671. 19e. 2d., as against 104,7921. 2a. Bd., the
balance of that account at the end of December, 1867. The
assets and liabilities at Dec., 1858, stood as follows, as_
Assets : Gold and silver coin in Ireland, 679,3381. 19e. 2d.;
other cash in hand, at the Bank of England, and at call,
349,249/. 7e. Id. • Government Fundeigia. Bills,
en "Eichequer Bonds, d Debentures, 4161. 17a. 3d. ;
bills discounted on hand, 3,048,6961. Ils. 7 ; saremate an
government end other securities, loans at short notice, end
current aromas, 730,654/.95. 104_; bank premiers in Dublin
and at the br,u,ches, 29,1591. 2e. 6d.,• t0ta1,5,271,5161. 7..6d.
Liabilities : Paid-up capital, 600,0001. ; notes in circulation,
1,135,6991. Ile.; due by the bank on deposit reueipta, current
rerourts, ffr. 3,481,9471. 13s. 3cl. ; rest or undivided
profits, 153,9671. 19s. 2d. Total: 6,271,6151. 7s. 6d.
These remiss show an increase of nearly 1,000,0001.
la the resources of the bank since December, 1867.
Banking business generally, during the year 1859, was not
so moat affected by the prevailing low rate of Interest as
might here been eapponeC for trade was sound, and being
prudently oonducted, the loans by bad debts were com-
paratively insignificant. Haan it was that tbe directors
were enabled to distsibute to the shareholders dividends and
bonuses, amounting to 12 par cent. upon the paid.ap capital of
the bank, free of income-tax, out of the realised profits of
the year, and to add, moreover, the sum of 19,1751. 10s. 6d.
to the reserve fund or undivided profits. The directors
who this year retire by rotation are Fowler NOWIIKII, Esq.,
Oct whys Oromanney, Esq., George Asklin, Esq., and
&tilt Sutton, Esq., who, being eligible, now offer them-
seta x se candidetes for reelection."
The Cll4llOl congratulated the proprietors upon the
motioned progress in the national and road prosperity of
Ireland and the consequent improvement of this establah.
meet. The Irish were now self relying, psaoefal, and well
ordered, and everything betokened that a splendid future was
before them. As regarded the amounts of the bank,hecould sa-
nte theproprietora that they were strictly accurate. Thereeult
of the year's operations was the most substantial proof of the
stability and popularity of the bank in Ireland. The bank
consisted of 830 proprietors, whose shares were selling at 100
percent. premium. Itbed 29,001 depositors, being an increase
of 6,000 as compared with list peer, and a liberal reserved
Busd, partly in call and partly in government recuriYies that
wars always convertible. The business of the London house
was so rapidly increasing that the directors had been com-
pelled to take steps for enlarging their premises,
sad they were about to erect a new honking house.
The neat dividend. to be declared at midsummer, he had
every reason to believe would be at the rate of 12 per ant ,
though looking at the warlike prospects of the futon, it
was not possible to predict with certainty what banking
profs were likely to amount to this year. He moved the
adoption of the report and accounts.
lir. Fox emended the motion ; and after a brief coups-
tralaYory diecossion it wee unthimonsly agreed to.
A vote of thanks to the directors, chairman, and officials
closed the proceedings.