The Sun.
London, England, 1864-01-15 00:00:00

THIRTY-FIRST REPORT of the UNION
BANK OF LONDON.
At a Half-yearly Meeting of the Proprietors, held at the
Court-room of the Banking House, 2, Princes-street, Man-
sion House, on Wednesday, the 13th of Janu*ry, 1861,
P. NORTHALL LAURIE, Esq., Governor, in the Chair,
the following REPORT was read by the Secretary :
The Directors have the pleasure to report that the net
profits for the Six Months ending the 31st December last,
after payment of all charges (including the sum of £112,457
is. 10d. for interest paid and due to customers on their cur-
rent and deposit accounts), and making ample provision for
all bad and doubtful debts, amount to £114,323 14s. Bd.,
which, with £668 12s. Bd. brought forward from 30th June
last, make together £114,592 78. 4d.
'the Directors now declare a dividend of 13s. per share,
clear of income tax, for the six months ending 31st Decem-
ber last, amounting to £54,000, and leaving a balance df
£61,992 7s. 9d.
This state of the accounts induces the Directors to antici-
pate that which, in the ordinary course, they would have
postponed until July next, in order that the proprietors may
participate in the profits of the past six months at the earliest
possible period ; they have, therefore, appropriated £60,000
of the profits of the past half year to the Reserved Fund ;
and out of such Reserved Fund, thus increased to £170,000,
they have appropriated £61,000 in adding I per share to the
paid-up capital of the Company, which will thus be increased
from £720,000 to £780,000.
After deducting the sums applied in payment of the divi-
dend, and i❑ addition to the Re- erved Fund, amounting to-
gether to £114,00 there will remain a balance of £992 7e. 4d.
for appropriation in July next.
THE UNIO, BANK OF LONDON.
For the Half-Year ending 31st December, 1863.
GENERAL BALANCE.
DR.

LIABILITIES.
Capital—£lo per share paid up on
60,000 shares £600,000
~ £2 ver share artded out of
Reserved Profits 120,000

£;20,x00 0 0
Due by the Bank on Current Accounts. D• -
posit Receipts (including interest accrued),
and other obligations 16,472,M 13 7
It, served Fund, invested in Consols, .8 per
Contra llO,OOO 0 0
Rebate on Bills not due ...... .......
Balance at credit of Profit and Loss

£1!',444,384 5 1

ASSETS.
Cash in the Bank —X741,644 8 8
„ in B tnk of England 779,685 13 7
„ lent at Call 972,000 0 0
.Z 2,493 331 2 3
Investments in Government Stock, Exche-
quer Bills, Debentur,s, 1c 921,200 4 2
£iiii,46o 19s. Ed. Consols (taken at 923) Re-
served Fund llO,OOO 0 0
Bank Premises consisting of Freelwld
Buildings in Princes-street, Mans'on
Hou.e-street, Argyle-place, and Ft- et-
street ; and Lease awl Fixtures of No. 4,
Pall-mall East ... , 108;;75 4 5
Loans, Bills Discounted, &c. . _ 13,811,077 11 3

417,414,381 5 1

PROFIT AND LOSS ACCOUNT.

_ ___----
Dn.
Amount of Dividend of 18a, per Share
Appropriated ti Reserved Fund
Balance, Wine' Undivided Profit carried for-
ward to next hall year

Cu. £114,092 7 4
-----
Profit unappropriated on 30th June 1.186.3 .. £668 12 8
Amount of net profit of the half-year ending
3 tst December, 1863, aft e^ deducting all ex-
penses, and interest paid, and due 112,4,7
is. 10d.), allowed to customers on their cur-
rent and deposit accounts - 114,323 14 8

£114,992 7 4
The Governor then declared a Dividend for the past Half-
year of 183. per share. clear of it come tax.
Also the capitalisation of £60,000 of the Reserved Fund, by
adding £1 per share to each of the 80,000 shares of the Com-
pany.

It was Resolved unanimously—
That the report now read be adopted, printed, and circu-
lated among the Proprietors.
That the most cordial thanks of the Meeting be even to
the Governor, the Deputy-Governor, and the Directors, for
the able, efficient, and profitable manner in which they have
conducted he affairs of the Bank during the past half-y•ar.
Tha the best thanks of th.. Meeting be given to Mr. W.
W. Scrimgeour, the General Manager, for the zeal and abi-
lity so long displayed by him in the discharge of his impor-
tant duties.

That the thanks of the Meeting be given to Mr. Barton,
the Manager ; Mr. In7pen, the Manager of the Regent-street
Branch ; Mr. St. Barbe, the Manager of the Charing-cross
Branch; Mr. Beattie, the Manager ot the Temple-bar Branch;
and to Mr. Newmarch. the Secretary, for the zealous and
efficient manner in which they have discharged their several
duties.

(Signed) P. NORTHALL LAURIE, Governor.
That the thanks of the Meeting be given to P. Northall
Laurie, Esq., the Governor, for his conduct in the chair this
day.

(Signed) JAMES FARQUHAR, Deputy-Governor.
Extracted from the Minutes.
HENRY NEWMARCH, Secretary.
N.B.—The Dividend will be payable on and after Wednes-
day, the 20th inst.
Proprietors, desiring it, may exchange their present cer-
tificates for new ones expressing that 413 per share have
been paid.