The Sun.
London, England, 1864-03-17 00:00:00

BANK OF ENGLAND.

HALF-YEARLY MEETING—(THIS DAY).
The ordinary half-yearly meeting of the Governor and
Company of the Bank of England was held this day, at
noon, in. the Back Parlour. Kirkman Hodgeon Esq.,
Governor, presided.
The CHAIRMAN said he had to acquaint the Court that
this was one of the half-yearly general courts, appointed by
the 12th bye-law, for making of dividends. Ho had also to
inform the court that the profits for the half-year ending
the 29th of February last were £756,143 ss. 2d., making
the amount of rest at that day of £3,772,770 78. 7d.; and
that, after providing for a dividend of per cent.,
the next would be £3,008,738 7s. 7d. He had, therefore,
to propose that the half year's dividend of interest and
profits be made, on the sth of April next, of 5i per cent,,
without deduction on account of income tax.
The resolution having been carried unanimously,
The CHAIRMAN then moved a formal resolution for the
payment of the half year's dividend of 51 per cent, on the
sth of April next, without deduction on account of income
tax.

This resolution having been also carried,
The CHAIRMAN said that as the dividend now declared
exceeded that of the last paid, it would be necessary to con-
firm it by ballot in the usual way, and that the present meet-
ing should be adjourned until Tuesday the 22d.
In reply to some observations from an hon. Proprietor

• f
The CHAIRMAN said, with regard to the capital of the
Bank of England, he had already stated, on former occa-
sions, that it could not be safely reduced. They were the
bankers to the nation, and it was not alone sufficient to
show that the institution was safe, but it was
also necessary that a state of things should be shown that
there could be no doubt in the mind of any living man that
the bank was absolutely and incontestibly safe. (Hear.)
The hon. proprietor thought the amount of money unem-
ployed excessive, but the reserve had been looked upon as
a last resource in time of trouble. The amount so held was
published every week, and it was looked upon as the baro-
meter of commerce, and if it pointed to stormy, in
consequence of a reduction of that sum, a panic
would inevitably be created which would be attended with
the most disastrous results. The accounts of the Bank
were also published every weak, and might be read in every ,
newspaper in the kingdom, and in his opinion they were
more in detail than any of those published by other com-
panies once in six months. With regard to the management
of the Bank, the directors were working well up to the
times. Rules in existence ten years ago were not now
applicable, and change succeeded change with the greatest
rapidly. Such being the state of affairs, the directors were
exercising sound discretion in holding their reserve sacred
—(bear, hear)—and he could assure the proprietors that it
was the constant study of the directors to do their utmost
to increase their prosperity. The same advantages were
given by the Bank to their customers as in other banks,
and that these efforts had been successful, he could only say,
looking at the enormous amount of money they had had to
deal with during the present year, that they had made about
9 per cent. upon a capital of £14,550,000, amounting in
round numbers to about 4400,000—(cheers)—which he
thought was quite as much as any reasonable person could
expect to get, and he trusted that at the expiration of his
term of office next year they might be in as good a position.
(Hear, hear.) He had to return thanks on the part of his
colleagues for the vote of thanks that had been awarded
them.

A PROPRIETOR asked if ladies, holders of stock, were
excluded from their meetings.

The CHAIRMAN replied certainly not. They could at-
tend the same as any other person, and speak if they felt so
disposed. (Laughter.) It would always be a pleasure to
the directors to see them, and hear them give expression to
their opinions.

The meeting then adjourned until Tuesday next.

MARKETS—This Day,

MARK-LANE.

IMPERIAL WEEKLY AVERAGES.—Wheat, 40s 1d ;
barley, 31s 5d ; oats, 19s 8d; rye, 29s 2d ; beans, 32s 7d ;
and peas, 338
,Od.

THE SIX WEEKS' AVERAGES. - Wheat, 40s 6(.1 ;
barley, 31s lOci ; oats, 19s 5d ; rye, 30s 7d ; beans, 33s 3d ;
peas, 32s 11d.

ENGLISH GRAIN SOLD LAST WEEK.—Wheat, 99,961;
barley, 62,161; oats, 16,249 ; rye, 47 ; beans, 6,326 ; peas,
1,112 quarters.

METROPOLITAN CATTLE.

There was a fair average supply of beasts on offer in to•
day's market, but its general quality was inferior. Most
breeds moved off slowly at Monday's currency. The top
figure for Scots was 58 per 81b, Sheep—the show of which
was moderate—were a dull inquiry at late rates. The best
Downs, in the wool, sold at 6s per B'b. The few lambs on
sale changed hands steadily at from 6s 8d to 7s 4d per 81b.
Although the supply of calves was on the increase, the veal
trade was firm at late quotations. The top price was 6s 4d
per 81b. Pigs and mulch cows moved off slowly at low rates.