The Express.
London, England, 1868-07-17 00:00:00

METROPOLITAN BANS (LIMITED).
(TIfIB DAY)

The half-yearly meeting of the proprietors wad
held at noon at the London Tavern ; Alderman Sir R. W.
CAIDEN in the chair.

The report stated that after payment of all chore,
including rebate, interest paid to customers, and mating
pronaon for bad and doubtful debts, the net profits lived
by the bank during the past eix months, including the
balance of 2,3921. 6s. 6d., brought forward from bud account,
amount to 8,3241. lle. ld. The directorerecommend that
a dividend at the rate of five per cent. per annum (free
of income tax) be declared, leaving 3,3241. Ila ld. to be
carried to the credit of profit and loss new account,
exclusive of rebate 6461. 4e. _ _ _

The Canms~, in moving the adoption of the report,
observed that banking, like all other commercial enter-
prises, was subject to great vicimitudes. It was unpa-
ralleled for the rate of interest to be as low as 2 per
cent. for twelve months. At the present time it was
from 11 to 2 per cent., and this state of
things fully accounted for the smallness of the
profits realised. He trusted the balance-sheet would be
considered satisfactory, the amount carried forward being
I,OOW. larger than the amount that time last year. He
believed no bank in London was in a sounder position.
The profits were sufficient to pay a dividend of 7 per
cent., and at their present market price the shares would
yield that return to the investor. The confidence of the
public had increased ; there were no lock-ups or risks, and
the directors would rather earn only 4 per cent. than en-
counter any evil of that kind. (Hear, hear.) The board
had nothing to conceal, and the affairs of the bank rested
on a perfectly sound basis.
In reply to a question,
The Cnamsrair said there were 175 new solid accounts
since the last meeting.
The report was adopted, and, a dividend at the rate of
5 per cent. per annum having been declared, the meeting
terminated in the usual manner.

UNITED DISCOUNT CORPORATION (LIMITED).
(THIS DAY.)

The second ordinary general meeting of share-
holders was held at noon, at the London Tavern, Mr.
T. &mamma in the chair.
The directors' report shows a gross profit for the half
year (including an amount carried forward at the last
meeting) of 18,6941. 12s. 3d., which they propose to apply
as follows:-4,0861. 2s. in payment of all charges ; 4,4231.
10s. 10d. rebate of bills not yet due ; 1,1864 9a ld. in
extinction of preliminary expenses ; 2,0001. to a reserve
fund; 4,204!. 10s. Id. in payment of a dividend at the
rate of 6 per cent. per annum, or as. 7d. per share;
2,694/. Os. 3d. to be carried forward to new account.
The CILLIMILLN, in moving the adoption of the report,
limited his remarks to the announcement that no bad
debts had been incurred during the half-year.

Replying to a Szasiazormai,
The Caararax said that 2,412 shareshadnotbeen taken
np at the last meeting. Since then the holders of 597 of
them had joined the new undertaking, andafter deducting
1,610 shares which were surrendered from the balance,
306 shares remained which were not taken up.
The report was adopted, and the dividend recommended
declared.