The Sun.
London, England, 1863-09-10 00:00:00

THE SON, LONDON, THURSDAY EVENING, SEPTEMBER 10, 1861

POLICE INTELLIGENCE—This Day.

BANK OF ENGLAND.

HALF•YEARLY MEETING-(THIS DAY.)

The usual half-yearly court of the governor and proprie-
tors of the Bank of England was held this day in the Back
Parlour; Kirkman Hodgson, Esq., governor, presided.
The minutes of the last half-yearly court having been
read and confirmed,

The GOVERNOR said he had to inform the court that that
was one of the quarterly general courts, held in accordance
with the charter, and that it was also one of the half-yearly
general courts appointed to Pc held by the 12th bye-law for
the making of a dividend. He said the net profits of the
half year ending the 30th of August last were £669,208,
making the amount of rest on that day £3,671,505, and then
after providing for a dividend of £4 10s. per cent. the rest
would amount to £3,016,620, The court therefore proposed
that a half-year's dividend of interest and profit be made on
the 10th of October next of £4 10e. per cent., without de-
duction on account of income tax.

The roction having been seconded,
A PROPRIETOR was of opinion that the time had now
arrived when some effort should be made to increase the
dividends paid by the Bank of England to something like
that paid by the joint stock banks. The latter paid divi.
dends in some cases to the amount of 17 or 20 per cent. per
annum, whilst the Bank of England only paid about 9 per
cent., with a paid-up capital amounting to 14 millions and
a half. He also considered the amount of rest was more
than sufficient, and that at least some portion of £3,000,000
should be distributed amongst the proprietors.

The GOVERNOR said a statement was made at their last
meeting of the difference of dividend paid by the Bank of
England and that of the Joint Stock Banks, and in arguing
upon that difference, it was not a fair calculation between
them to take the per tentage on the paid up capital of the
Bank of England. They were bankers to the public, and
it was of the utmost importance that there should be
national confidence in them. He reminded the Court
of the old saying "safe as the Bank," and was of opinion
that it had arisen in consequence of their large capital and
known resources of meeting everything they put their name
to. It was quite a mistake to suppose that every legitimate
and proper advantage was not given to their customers.
All the conveniences granted by other establishments were
to be bad at the Bank of England. He thought the divi-
dend declared a very fair one. (Hear, hear.)
The motion of the Governor was carried unanimously.
The usual resolution of the payment of the dividend
having also been agreed to,
The GOVERNOR said that as the present rate of dividend
exceeded that of last half •year it was necessary, in confor-
mity with the Act of Parliament, 7th Geo. 111,, cap. 48,
that the same should be confirmed by the ballot in
the customary manner, and that the Court should
Y 9 the 15th instant, at four
be adjourned until Tuesda
o'clock to take the determination by votes in print or
writing of the question on the resolution for the dividend.
A resolution to that effect was also agreed to.

A PROPRIETOR muved a vote of thanks to the governor
and directors, and congratulated them on the increase of
dividend.

The GoyEß:coß acknowledged the compliment, and the
procee4ings terminated.

MARKETS---This Day.

MARK-LANE.

IMPERIAL WEEKLY AVERAGES. —Wheat, 44s 2d;
barley, 31s 8d ; oats, 22s Od ; 1-ye, 32s Ild; beans, Stis 10d;
and peas, 37s 2d.
THE SIN. WEEKS' AVERAGES. -- Wheat, 45s 9d ;
barley, 32s 3u; oats, 22s 10d; rye, 34s 3d; beans, 39s 8d;
peas, 35s Bd,
ENGLISH GRAIN SOLD LAST WEEK.—Wheat, $3,175;
barley, 3,796 ; oats, 7,592; rye; 344;
beans, 1,235; peas
740 quarters.