The Express.
London, England, 1861-01-16 00:00:00

••yminum BALANCt.

" IJabiGtiea : Pawl-up amain' ta the bank, I 20,000, ; de-
duct amount debited to eep:tal account, per ;molutiou of
genera meeting July 120(100'. ; t.tal, ttatAmoi.
Due by the bank on current ae.unato, deposit receipt.. (in.
dating interest acenanl), and other obligations,
lg. 4d. ; rebate on bale not else, 15,114'. 124. ; Wien,* at
credit of prutit and kiss, 664701. : total, 11,tr7,t487.
lls. 4d.

Iseets : Cash in the lank, 334,914!. las. 7d. • in &tilt
of England, 612,209 f, 17s. 7d. ; lent at sall, i 43,4,01. ;
total, 1,1490,924 t. lls. 2,1. Inve4melits in tlosejentent
*n ,k, Exchequer Bills, City BoLds, Debentures, ace.,
t67,76/41. 17s. Bld. • Isuilc premisks, coti,istinz of freehold
buildings in Prim:X*44mi., Matisi,,e.house.strect, Aro•11•
place, end Float-street, and lease and fixture. of No. 1,
Pall.tnall east, 104,775/. 4s. :isl. ; buns, Ling Iliscouuted,
he., 8,079,819 f. 17s. 11.1. ; total, 11,087,:fesi. lls. 4d.
"PROFIT AND tone ACCOUNT.
... _ .

" Amount of dividend of 15. pa share, 3c,01.10/.; balance,
being undivided profit carried forward to best half-rear,
311,4 M. ; total, 66,4701. Ide. Profit unapprom hard on
dune .W), lwilt, 3,1061. Ida 4d. ; amount of net profit of the
half.year (tiding Decanter 31, 180, after deducting all
expenses, and interest paid or due fi15.1,85.7.1. 95.., allowed to
customers oo their current and deposit anaemia, 63,06. M.
sal. ; total, 66,470 f. lie."
The CHAIRMAN having declared a dividend of 15. per
shahs, or 10 per cent., in acanthuses with the report. said
the directors viewed the report, as they hoped the share-
holders would, with unmixed sat isfact Mu. The privets of the
busmen. of the bank both at the central establishment :turret
all the branches, had heed very satisfactory, vol the directors
were confident that the balance of KAMM shown in the MC-
county was really earned. There was reason to hope
that the accounts of the next half-veer would
exhibit a still further improvement The dine-
ton hail nothing further to report with regard to
the loss arising from the Pullinger frauds. but they were
Out neglecting the matter, and would do all they could in
the iotermt of the proprietors. llie f luincery proceedings
had been put an roil to by the payineut of the costs of the
plaintiff. under the advice of the compeny'S solicitor. (Hear,
rnr..) The bank had enjoyed an entire immunity from
bad debts during the last six months -a fact which was
highly cre.litable to the care and judgment of the manager,
Mr. :Writ-um:our. (Cheers.) In place of Mr. W. Scott
Hinny, who h.' refit ed from the direction in consequence
of ion*red health, the board had selected Mr. Gilchrist.
a gentleman of considerable ernioence in the mercantile
world, and be trusted that that selection would be affirmed
by the proprietor..
Mr. Ilistor thought it was desirable that immediate
steps should be taken to robe a reserve fund. He would
move that r.,010/, out of 30,01101. proposed to be carried
forward should be applied to that pupate.
The CIMAHUIAX said No proprietor could be more anxious
that the board were to have a reserve fund, but the pr.mer
time for making the appropriatiou would be the next half-
yenrly mestisg.
Oa the notwa of the CHAIRMAN the report told accounts
were adaptad. and thanks having been voted to the chair
lima and life basher directors, au d to the general manager,
ecthollifors and the other managers, for their services
dories the kit months, the meeting separated.

THE LONDON AND WESTMINSTER BANK.
(THIS DAY.)

The annual general meeting of the shareholders
Issk place this afternoon at I o'clock, at the Beak, Loeb-
:Mr. Alderman MAMMON. M.P., in the chair.
Bacacrtat reed the following report end balance
age. :

"no director. have to report that -after making ample
Strfar all bail and doubtful debut, paying the income
ain eat 2,000 f. towards the liniklinp of the bank,
llimi a grataity d 10 per cent. oa their salaries to
all ireelltesraef the eetablishment—the net prinks al the
alai for Obi Yet half-year amount to 112,816 L Ti, tld. Tide
sna, added I. I MM. la. 2d.. the unappapiated harm of
the peessaing haLper, will amount to 121,N51. 10L
Oin d this mean the directors have paid the bearowit on
the real er simian tank at the aft at g per asd.per
1111111111111, end they nen &care ailaidend le the aiarsiaYwe
et the vale a Spar eat. per mama, cad W way of farther
*ridged cot lie prelim a haws of 7 per coal an the
paid•up canal. After time adywiembe are made, there will
be • balaaatetUlAV. IN., rag the &esters reoceuiread
that the sem at 7,1172 f. Oa ed. be applied is total linear
Ors at the alleraions and repairs at the city office, and at
the Waialeale and Maryleinee brachia, sad that the
reminder, 10.01 U. 54., be amid to the profit and la
asseasa of the arrant year. The vecast7 in the direction,
essisional by the death of the late Charles flibbes,
ba has Mal up by the finfiliDatiOS at William Wallace,
lei., subject to the confirmation of the present meetig.
The sikeelins who retire by rotation are William Haigh,
Esq., Joseph Wade, Eel., and Jame% William Gilbert,
Ken., F. 118., all of whom, being eligible, offer the:oedema
for re-election.

"Ih. To proprietors for paid-up eapltal, 1,000,0001. ;
to amount due by the bank on depollute, eirenler notes, &a.,
12,464,454/. 1.3. 114. ; to rest or surplus funclielios,oolB. I
to !salaam, of profit &Wier account, Jan. 30, 1 11,225 E
Is. 2d. ; to net profits of the past half-year, 112,81 .7s. 88.
—13,513,4934 Is. 911. Cr.—By government stook, Exche-
quer Bills, sod India Bonds, 1,082,354/. 13s. ld. ; by other
securities, bacludiag bills discounted, loans to customers,
11,107,559/. 10a. 3d. ; by cash in haul, 1,02.3,548/.
18s. 53. 1:1,513,4%11. 11. 9d.
"Profit aed Lose.—Dr.:—Tototal expenditure of the seven
catablahmenta, Meted* rest, taxes, eateries, stationery,
Re., with a gratuity of 10 per cent. on their salaries to the
Akers of the establishment, 35,296/. da. 6d. To amount
set apart towards the bundle's of the Bank. 2,0001%
To amount added to rest or surplus fund by interest
thereon at 5 per cent. per annum, 5,1251. ; payment of the
dividend now declared, at the rate of 6 per cent. per annum
for the last half-year on the paid-up capital of 1,000,0001.,
30,000/. ; to bon us of 7 percent. on the **lel, 70,0001.; balance
ad poet and lose account, 18,913/. He. 10d. —164,334!.155. ed.
Or. • By balance of profit and loos account, Juno 30, 1880`
la. 3d. ; by grow peofita of the hat half-year, after
paying the income tax, and makiug provision for all lad and
doubtful debts, 153,1121. 14e. 4d.: total, 164,3341.155. 6d.
" !test ur surplus fund.—)h.: Present amount, 210,1251.
Cr.: Amount on the 14 July, 15+4, 205,0001, • by interest
we ditto at five per cents per annum, 5,1251. ; tote',
210,1 re:.
"The dividend and bonus (without deduction of income
tax) will be in course of puyrnent om Monday, the 21st
imitavt."

Theitaroman said there were several points of Mimed
in the statement promoted. The departs amounted to
mos* 12,500,000 f. which, with other items, slowed an
to of 1,:.100,0001. for the year. and an increase of
shove 500.0001. over the amount at the time of the
July meeting. During the hot year the directoes
bed been able to realise • sufficient profit to
pay • divideoil of 90 per cent., which they had raver
dome before; so that within the year they returned onedifth
of his subscribed capital to each ss ant sharebeldret.
Lea
year, at that season, they paid • of 10 par
cent. for the half-year ; but as the dividend for the pn-
eeding half-year was only $ per cent., the whole meant
divided wee only lit per cent. Out of the balsam of
KLOCK, 8,000/. was applied in corering the "-
pairs and alteration of buildings. The year just
mt. had not been without its drawbacks. Those
failures in the leather trade which occurred
about the time of the last July meeting, induced the direc-
tors to set apart 10,0001. toenver any lames which might arise
from them ; but he was glad to my that the whole lass
of the bank from that source was little more then
110001. This was partly due to the sound discretion of the
excellent manager of the Borough branch, Mr. Withers.
In the course of business the bank had had to pass
some bills drawn by :it reatfeild and Laureate.,
but they had nothing to do with discounting those
bills. For the hooour and benefit of trade the
director* of this bank would join in denouncing such green
and reckless abuse of public confidence and credit m was
exhibited in those astounding tramactions. (Chests.)
In the present unsettled state of affairs, remen,
tering the experience of the directon bad
taken an initiative which had. been followed by other
boards, and fixed new rates for deposits instead of pur-
suing the course they formerly slid in such cases, and their
conduct had been generally approved. He was happy to
gay that the tenni had that day voted 1101. to be sent to
the various metropolitan police-offices, towards the relief
of the prevalent distress. it'heers) He concluded by
remits the adoption of the report and the accounts.
Mr. T. H. Morn wooded the motion, which after a
abort demean° was agreed to.

Thanks were afterwards voted to Mr. Ewing% the
general re merger, and the ni.ioagers of the aeveng
broach banks, and to the "thee,. genenxv. Mr.
W. Wallace war selected to AU the vacancy in
the direc•ion oceuioeed by the dorth of Mr. C. Gibbed, end
the retiring directors Mr. W. Haigh, Mr. J. Eadaile, and
Mr. J. W. WWI. were re.eleeted.
The rueetiog ternriute.l with • yobs of titmice to the
chairman and the other three:tom

AM REP M kn. --LIVERPOOL, W [DS EXUA Y.
The Liverpool. New York. aail Phalieivpida (Ler
pany'• L{-lac h: New S.
talk 17