The Sun.
London, England, 1855-08-04 00:00:00

ROYAL BRITISH BAWL

The general half-yearly meeting of the proprietors of
this bank was held at the bank's house, in the Strand,
yesterday—Edward Esdaile, Esq., the chairman of the
court of directors, presiding.

Mr. HuGH INNER CAMERON, the general manager,
read the following report:— _ _ _

" The supplementary charter in favour of the bank,
which the directors stated in their last report as being then
about to pass the Great Seal, was soon afterwards com-
pleted. The relative deed has since been subscribed for
100,090/. additional stock, and one-half of this sum having
been paid up, and the requisite certificates issued, the in-
creased capital has been duly notified in the Gazette. The
directors have also the satisfaction to state that they have
allotted to respectable applicants another thousand shares,
representing an additional 100,0001. ; and that of the
moiety of (his sum, which the law requires shall be paid
up before the issue of the corresponding share certificates,
and which is receivable by instalments, 33,1291. 13s. have
been already paid by the allottees. 'When all have paid
in full, this second addition to the capital—trehling, its
original amount, and completing a subscription of 390,000/.
—will be duly published. Meanwhile, such of the alloteos
as have paid, or shall pay, 501. per share, and subscribe the
deed, ,‘ ill receive their certificates, and interest on their
payments at the same rate as the dividend payable to share-
holders ; the rate allowed on instalments short of payment
of the 501. per share being one per cent. less. Hitherto
the number of the bank's shares having been comp tratively
few, occasioned no doubt by the largeness of their amount
singly, and of the proportion required by law to be paid
up, the transactions in them have been infrequent, and
they have but rarely been found on the market; but as
their number has now been increased, the directors will
take the necessary steps to have them quoted in the
Stock Exchange lists. The customers of the bank,
and their operations, have continued steadily to in-
crease. Mora than a thousand new accounts have
been opened during the past year, and the number
now in operation is considerably above six thousand.
At the time the bank was being formed, the directors had
much difficulty in obtaining any premises in a suitable
place adapted to their wants, and they were very glad when
they secured, and at a moderate rent, their present chief
office. But for a considerable time back the accommoda-
tion it affords has been much too limited ; and the busi-
ness of the bank has been thereby seriously impeded. The
convictions of the directors themselves that a change to
larger, more commodious, and better situated premises
was necessary, were strengthened, not only by the com-
plaints of customers, but by the expressed opinions of pro-
prietors. The directors are however now happy to say
that they have at length secured premises which, in com-
modiousness, situation, and appearance, are all that can be
desired, and on terms which they consider to be very
advantageous to the bank. These premises are the whole
of the front building, and the greater portion of the two
side wings, and of the interior quadrangle of the South
Sea-honse, in Threadneedle-street ; the back portion of
the building being taken at the same time by another
bank. The house is one not only familiar to the whole
business community of London, and standing in one of the
greatest thoroughfares of the City, but some of its apart-
ments have at different times been occupied by several of
the oldest and most respectable of our banking establish-
ments ; while others continue in the possession of the Go.
vernment and of various well known public companies.
The portion of these premises which the directors have
taken comprehends about two-thirds of the whole, includ-
ing the entire front in Threadneedle-street ; and the bank
has the option of a tenancy at a specified rent of 21 years,
or the purchase within three years of the freehold, at a
price now agreed on. They hope this arrangement will be
satisfactory to the proprietors, inasmuch as the acquisition
of the property is in itself an excellent investment, and com-
bines every banking desideratum, with a moderate annual
charge. The directors expect that the necessary alterations
to enable them to remove their chief office to Threadneedle-
street will be completed within 3 months from this time.
The directors have great satisfaction in stating that the
progress of the junior branches established this and last
year has completely justified the outlay on their formation.
The dividend declared by the directors for the past half-
year is at the rate of six per cent. per annum, free of in-
come tax, which with interest at the same rate on all
deposits of 501. per share of the last issue will be payable
at the head office of the bank, on and after Monday, the
20th instant."

The report and the accompanying accounts were
deemed highly satisfactory, and the directors were urged
by ,numerous shareholders to persevere in the course
which had rendered the establishment so largely u eful
to the mercantile and trading community of every class,
and so safe and progressively profitable to the proprietors.
A SFIAREHOLDER congratulated the proprietors upon
the readiness the directors had shown in meeting their
wishes on the subject of procuring more convenient and
suitable premises for the chief office. No arrangement
could be more advantageous than the one gone into re-
lative to the South Sea House.
Mr. CAMERON, with the view of marking the progres•
sive extension of the bank's business, mentioned that
during the haif•year ending December, 1854, the trans•
actions were 320,958 in number, representing a value of
18,605,9.66/, For the half-year ending June, HO, the