The Sun.
London, England, 1864-04-08 00:00:00

the chair.

The notice convening the meeting and the following report
and statement of ace 'until were read:—
The Directors have to submit to the shareholders the
audited accounts for the year ended 31st December last, and
to report that after making ample provision for all bad and
doubtful debts. the net profits of the bank for the year
amounted to £242,909 12s 6d.
Out of this sum the Directors have declared, free of income
tax, two half yearly dividends at the rate of 10 per cent. per
annum each, and have added to the last of these a bonus of
£4 per share, thus making a return for the year of 18 per cent.
on the paid-up capital of one million sterling.
From the balance remaining the Directors have refunded
to reserved fund account tile sum et 47,341 20. 4d. taken from
it last year, and, in consideration of the greatly extended
business of the bank, have carried to ere lit a further sum of
£2s,ooo,•thus raising that fund to £225,000. They have also
passed the sum of £5,000 to superannuation fund, and £15,000
to building fund, carrying forward .£10,A14 105. 2d to credit
of profit and loss account for the current year.
Since last annual meeting the Directors have purchased
desirable premises in Sydney, an 1 have secured land at
Shanghal,Kurrachee, and Madras, in view to the erection of
suitable buildings for the branches of the bank at those ports.
The present auditors being eligible for re-election, in terms
of the deed of settlement, offer themselves accordingly.
By order of the Board,

MACKIN'iOSII BA. LFOITR, Genera Manager.

(No. I.,—BALANCE-SHEET, DECEMBER 31, 1863.
Dn. LIABILITIES.
To paid-up capital ..
To Reserved Fund
To amount due by the Bank for customers'
ba'ances, fixed deposits, acceptances, let-
ters of credit, circucai notes, ac.
To profit and loss

Xl,oo^,oro o o
192,658 17 8

£10,388,30 3 1

CR. ASSETS.
By cash in hand and at call at head office
and branches X011,863 4 1
By Government securities
By other securities, including specie, bills
purchased, discounts, loans, &O.
Freehold premises 1n London, Edinburgh,
Calcutta, Bombay, Agra, Lahore, and
Sydney, anti leasehold property and build-
ing ground at the other branches

91,0,1 17 1

£10,338,349 8 1
G. B. DALBY, Chief Accountant.
(No. 2.)—PROFIT AND LOSS ACCOUNT FllO3l
JANUARY 1, TO DECEMBER 31, 1863.
DR.
To payment of dividen ion paid-up capital
(at 10 per cent. per annum) for half-year
ended 3t th June
To do. do. for half-year ending 31st Dec
To bout' of Z E per share
To amount transferred to Reserved Fund
To amount transferred to Building Fund
To amount ransferred, to Superannuation
Fund
To balance carried forward

£50,000 0 0
50,0:0 0 a
80,000 0 0
3.?,141. 2 4
1,5,0,0 0 0

6,n00 0 0
10,563 10 2

4:42,90) 72 6

Cn.
By gross profits
at Head Offices
Branches to
Dec. 31, 1853
after making
provision for
bad and doubt-
ful debts .. £496,452 6 0
Less interest al-
lowed on cur-
rent and de-
posit accounts 167,505 14 0
X 320,116 10 0
Total expenditure of Head
Office and Branches, includ-
ing rent, income tax, taxes,
stamps, salaries (wilt a gra-
tuity of 10 per cent. thereon,
to the officers of the establish-
ments at home and abroad,
miscellaneous charges, &c.. 85,2;9 19 6