The Sun.
London, England, 1864-07-14 00:00:00

NORWICH UNION LIFE INSURANCE
SOCIETY: Instituted 1808, upon the principle of
Mutual Insurance.
This Society affords unusual advan'Ages to the intending
assurer.
The rates of premium are 10 per cent, less than those of
Most offices.
The whole of the profits belcing to the assured.
One-half of the first five annual premiums may remain as
a ermanent charge upon policies effected for the whole
duration of life.
Present position of the Society:—
The accumulations exceed £2,000,000.
The amount assured is upwards of £5,570,000,
Annual income exceeds £250,000.
•V,:126,413 have been paid to the representatives of deceased
members.
For further information and prospectus apply at the So-
ciety's Offices, Surrey-street, Norwich; 29, Fleet-street,
London, E.C. •

IRTY.SECOND REPORT of the UNION
BASK of LONDON.
P. NORTHALL LAURIE, Esq., Governor
JAMES FARQUHAR, Esq., Deputy-Governor.
DIRECTORS.
Charles Lyall, Esc4, Harry George Gordon, Esq.
John Chapman, 'Asq. Samuel Beale, Esq., M.P.
Archibald Boye., Esq. Fleetwood P. Wiison, Esq.
John Sco:t,4q, John Gilchrist, Esq.
Leo Schuster, Esq. William Scholefield, Esq.,
Sir John Musgrove, Bart., 31. P. Alderman.
Thomas Augustus Gibb, Esq.
At a GENERAL MEETING of the Proprietors, held
at the Court-room of the Banking-house, 2, Princes-street,
Mansion. House, on Wednesday, the 13th of July, 1864,
P. PORTHALL LAURIE, Esq., Governor, in the Chair,
the fo) ,owing report was read by the Secretary :
Tbe Directors have much satisfaction in reporting that
the net profits of the Bank for the six months ending the
30th :Tune last. after payment of all charges (including the
sum of £149,520 Bs. Bd. for interest paid and due to custo-
mers on their current and deposit accounts), and making
ample provision for all bad and doubtful debts, amount to
4154,370 18s. 10d., which, with £992 7s. 4d. brought
forward from 31st December last, leaves for appropriation
the sum of £155,363 6s. 2d.
The Directors have declared a dividend for the last six
months at the rate of 15 per cent. per annum, and a bonus
f2l per cent. on the paid-up capital, being at the rate of
20 per cent. per annum, clear of income tax ; and after
payment of the obove, amounting to £78,000, there will
remain a balance of £77,363 68. 2d.
The Directors are now enabled to make a third addition
to' the paid-up capital of the Bank out of profits, and they
have therefore appropriated £77,000 to the reserved fund,
thereby raised to £157,000: and out of such amount they
ht ye appropriated £120,000, being £2 per share, to the
pa.d-up capital, which will thus be further increased from
-C780,000 to £900,000, and being, with present additions, an
in,rease of £300,000, or 50 per cent., out of profits, to the
original paid-up capital of £600,000.
After deducting the dividend and bonus, and £120,000,
added to the paid-up capital o:mounting together to £198,000,
there will remain the Burr.. of £67,000 to the credit of the
reserved fund, and an r.aappropriated balance of £363 6s 2d,
to be carried forwar'l4 to a new profit and loss account.
The following -Directors retire by rotation, under the
provisions of tlae Deed of Settlement, viz. :
Harry George Gordon, Esq.,
Samuel Beale, Esq , M.P.. and
Fleetweod Pellew Wilson, Esq.,
who, being eligible, offer themselves, and are recommended
13' the Court of Directors for re-election.
London, July 12, 1864.
THE UNION BANK OF LONDON.
FOR TILE HALF-YEAR ENDIIIG JUNE 30, 1864.

GENERAL BALANCE.
Dn.
LIABILITIES.
£lO per Share paid-up on
Capital 60.000 shares ....... £000,00)
£3 per share added out of
reerved pr0fit5........ 180,000

bus by the Bank on current accounts, deposit
receipts (including interest accrued), and
other obligations
Consols, as
19,518,675 6 8
Reserved fund, invested in Consols, as per
contra,,,
110,000 0 0
Rebate on bills not due 43,46i 5 8
I.l4lance at credit of profit and loss 155,363 (3 2

£780,000 0 0

CR. . Cash in the rank ....... ASSETS.. £721,343 19 2£20,607,503 18 4
„ lin Bank of England 751,r 45 6 9
ent at call ............. . 1,091,000 0 0
Investments in Government £2,586,989 5 11
£ Stook, Ex-
chequer Bills, Debentures, eze. . 1,4,i60 19s. Bd. Consols (taken at 92/) Ite-
1,158,080 4 2
Curved Fund ..... . .
.........
lank -
110,000 0 0
ings in Princes-street. Mansion-house-
street, Argyll-place, and Fleet-street, and
IQa• e and fixtures of N 0.4, Psll-mall East. 108,775 4 5
7..0.,n5, bills discounted, ..

420,607,503 18 4
PROFIT AND LOBS
DR.
Dividend at the rate of 15 per cent. per
Bannum .................
onus 2i per cent.. ......... 45¢,50).... ...... . 19,501 0 0
0 0

-APDropriated to Reserved Fund.,,,,.being X78,C00 0 0
... 0 0
Balance, being undivided profit carried for-
ward to next hall-year .................. 363 6 2

----
£155,363 6
1863 t
-----
Milten. unappropriated on 31st December,
......................... . ............
Amount of net profit of the half-year ending £94 7 4
30th June, 1 64, after deducting all ex-
penses, and interest paid and due (£149,520
s. Bd.), allowed to customers on their
currant and deposit accounts ............ 154,370 18 10

,383 6 2
The Chairman then declared a Dividend for the past
talf-year at the rate of 15 per cent, per annum, and a Bonus
'of 2 per cent. clear of income tax.
It was Resolved unanimously,_
That the Report now read be adopted, printed, and cir-
culated among the proprietors.
That Harry George Gordon, Esq., be re 'elected a Direc-
tor of the Bank.
That Samuel Beale, Esq., M.P,, be re-elected a Director
of the Bank.
That Fleetwood Pellew Wilson, Esq , be re- elected a
Director of the Bank.
That, reference having been made to last b cir-
culated among the proprietors in March by Mr Charles
Geach, late a clerk in the service of the Bank, this Meeting
declines to constitute itself a court of appeal from the
decisions of the Board in matters of executive detail.
That the cordial thanks of the Meeting be given to the
Court of Directors for the very able, judicious and -
able manner in which they have conducted the busineprssofit of
the Bank during the past half-year.
That the best thanks of the Meeting be given to Mr W.
WI. Scrimgeour, the General Manager, for his able services;
and this Meeting desire to express their sympathy with Mr
Scrimgeour in his recent severe domestic bereavement.
That the thanks of the Meeting be given to Mr Barton,
the Manager; Mt Ingpen, the Manager of the Regent-
street Branch ; Mr St. Barbe, the Manager of the Charing-
cross Branch; Mr Beattie, the Manager of the Temple-bar
Branch ; and to Mr Henry Newmarch, the Secretary, for
the zealous and efficient manner in which they have dis-
charged their several duties.
(Signed) P. NORTHALL LAURIE, Goveraot.
That the thanks of the Meeting be given to P. Northall
Laurie, Eeq., the Governor, for his able and courteousc mduct in the chair,
(Signed) JAMES FARQUHAR, Deputy Governor.
Extracted from the Minutes.
HENRY NE N.B.—TheH, Dividend and Bonus WMA
be RC
payableSecretar onand
after Wednesday, the 20th inst,
SPECIAL GENERAL MEETING OF PROPRIETORS,
13th July, 1864,

- --
•
The following Report RE PORT,
was read by the Secretary :
The Directors have convened this Special General Meet-
ing for the purpose of submitting to the Proprietors their
unanimous recommendation that the subscribed capital of
the Bank be increased from £3,000,000 to £4,000,000, by
the creation of 20,000 new shares of £5O each, as conamu-
Lired to the Proprietors by circular of the 27th April
fort,
the consideration
resolutions to that effect will now be submitted
Tillie
reonsideration and approval of this meeting.
fcrrcd te.asou for this course was stated in the circular re-
nt the Annual the Report, which has been read this day
to confirm so General Meeting, appears to the Directors
up capital of itillielY the expediency of increasing the paid..
with the extent Bank to an amount more commensurate
civet° the coneuror its business, that they confidently anti-
commended. rence of the Proprietors in the course re-
It
was then resolv
That, in col:meg-ilea" unanimously
business of the Baratceiof the very large increase of the
tatnie expedient to increase the sub-
byscribed capital of the
Ilk from £3,000,000 to £4,000,000
the creation of 20,000 :w shares of £5O each.
That such shares be is
whose
names were on thae Regliteably to the Proprietors
promister of Proprietors on the
21th of Juno last, at a
415 per share.
That such shares be issuer at the
price of £3O each,
whereof £l5 shall be appreptiat
to the capital, and £l5
to the reserved fund ; and thatethe mode of payment for
the shares be as ollows, viz. :—.,
Such Proprietors as shall pay fo
r
t
heir shares in full
next shall be
on or before Thursday, the 18th Au
,
Entitled to participate in respect of saterg dend which will be payable in January, ileB in the divi-
ciet
Prsprietors as do not desire to pay for
ti6laes r shares in; and such
Nil, shall pay for the same by three
e
instalments
(,)n the 18th August, the Ist October, and the I.),er
ate'next and they shall receive for such ihstalmeDneteseimn--
t.a.est he rate of 5 per cent. per annum fro
aPective days of payment up to the 31st Decemjer tnheextr.e.
(Signed) P. NORTHALL LAURIE, Governor.
Extracted from the Minutes,
HENRY NEWMAttCH, Secretary.