The Sun.
London, England, 1839-03-07 00:00:00

v:VEN ING EDITION.

HER MAJESTY'S LEVEE.

Palace, - -
Ifer :Majesty and Suite arrival at two o'clock in three of the
lteyal carriages from Buckingham Palace.
The tel.owieg Presentations to the Queen took place in the
D plomatic Cir. le :
The Count Alexis Stroganoff', Attache to the Russian Embassy ; by
Count Pozzo di Borgo, the Russian Ambassador.
Colonel Meth, of Virginia, by Mr. Stevenson, the Anne:can
Minister.
The Coromandeur Marquis Lisboa, Brazilian Charge d'Affaires; by
Viscount Palmerston, her Majesty's Principal Secretary of State
for Foreign Affairs.
The Duke do Regina, the Sicilian Charge d'Affaires ; by Viscount
Palmerston.
At the Entree Levee the following Noblemen and Gentlemen were
presented
to the Quee i :
Viscount Ebrington, on his appointment as Lord Lieutenant of Ire-
land ;
by Viscount Duni:melon.
Mr. John i.l'Netlt, on ins return from Persia; by Lord Viscount
Palmerston.
The Judge of the Admiralty, by Viscount Melbourne.
night lion. Sir George G, ey, on his appointment as Judge- Advo.
cate-General, by Viscount Melbourne.
Right lion. H. Labouehere, on being appointed Under-S:cretary of
State for the Colonies, by this Marquis of Nortnattby.
Captain Sir John Brooke Pechell, on being appointed a Lord of the
Admiralty,
by Lord Kilt°.
Der Majeety was attended by
g ; Lady Barham an M d the archioness
Wa
of Normanby, Ladies in Waiting; Viscount Falkland, Lied in
Cavendish lion. William Cowper, Grootn in Waiting; lion. Col.
the (Clerk Marshal), Equerry in Waiting; the Lord Steward,
Lord Chamberlain, the Master of the Horse, the Treasurer of
the liet.lsehold, the Comptroller of the Household, and Master
Cowell, Page of Honour in Waiting.
The Levee was attended by the Russian and French Am'oassa.
dots;her
Reschid Pasha, Ottoman Ambassador; and Mr. Salarne,
Majesty's Oriental Interpreter; the Belgian, Danish, Ba-
varian, Netherlands, United States, Sardinian, Hanoverian,
Mexican, Spanish, and Saxon Ministers; M. de Hummelauer,
Austrian Charge d'Affaires : Baron lichausen, Swedish Chargeil'Af-
fLirea i Prince J. Soutzo, Grecian Charge d'Affaires ; Count
•-irtlt ; M. Drouet, Secretary to the Belgian Legation ;
,:r. Benjamin Rush, Secretary, and Mr. Henry Btockholst Living.
7'°n, Attache, to the United States Legation ; Baron Lebzeltern,
Attache to the Austrian Embassy; M. Agob, Interpreter to the
Turkish Embassy, and Colon, 1 Bekir Bey; M. F. Pampillo, Attache
to the Spanish Legation; the Lord President, the Lord Privy Seal,
the First Lord of the Treasury, the Secretaries of State for thc Fo-
reign and Colonial Departments, the First Lord of the Admiralty,
' The President of the India Board, the Seeretary at War, the Post-
taster.General, the-Captain of the Honourable Corps of Gentlemen
n_ Ann', Lord Hill, Gold Stick in Waiting; Sir Henry Parnell,
Phillips,
` 4Ymaster-Genei al; Mr. Backhouse, Under Secretary of State; Mr.
Under Secretary of State ; the Lord Mayor ; the Master of
C ceremonies; Hots. Edward Butler, Lieutenant of the Honorab:e
_°rPs of Gentlemen-at:A rips ; Sir Benjamin Brodie, Bart. Serjeant-
__Surgeon to the Queen; the Attorney-General; Sir Thomas Reeve,
3_tandard .bearer to the Honourable Corps of Gentleswen-at-Arms ; the
Principal Chaplain to her Majesty's Forces; Rev. Dr. Short, De-
l'uti Clerk of the Closet in Waiting; the Rev, the Sub of the
the Chapels Royal; Mr. James Bunco Curling, Clerk ofthe Cheque
_, the Gentletnen-at. Arms ; Lord Radstock, Naval Aide-de-Camp ;
Colonel Sir Robert Gardiner, Aide-de-Camp to the Queen ; Colend
7°YarJ, Aide-de-Camp to the Queen ; Lord Alfred Paget,
Equerry to her Majesty; Sir Benjamin Smith; Mr. Ellerthorp,
Clerk of the Cheque of the Yeomen Guard ; Captain Bellaire, Exon
to
Valtine; Capt. Pechell, RN., Equerry to her Majesty the Queen
Wag"; the Groom of the Robes, Lieut.-Col. Sir Frederic Smith,
Di ntleman Usher to the Privy Chamber in Waiting; Lieut.-Col.
Waiting;
Mr. Blackwood, Sand Mr. Randall, Gentlemen Ushers in
,Vaiting; and the following
1), °Kes—Somerset, Dorset, Leeds.
eAnQuises—Anglesey, Ely, Thomond, Sligo.
,_:;aat.s—Tankerville, Lovelace, Charleville, Kinnoull, Clare,
ti ddington, Euston, Brecknock, Mulgrave, Orkney.
for` iseouNrs--Ingestre, Torrington, Melville, Drumlanrig, Strang.
oe
d, Barrington, Lake.
Loans—
Ernest Bruce, Worsley, Francis Gordon, Vernon,
a.a., i'llie, Barham, Seaford, Granville Somerset, George Quin,
"On
...ore "
, 1 Carrington, Ossulston, Bexley, Poltitnore, James Stuart,
Fitzroy, Leveson, Villiers.
13isnoes—Durham, Winchester, Nova Scotia.
ss RIGHT Hosouamthes—Sir Chatles Grey, G. C. H., W. Sturges
nourne, Sir John Beckett.
GHONOURABLES—Wm. Noel, H. P W. Stafford Jerningliain,
. ~
ChaJ; Stafford Jerningham, W. Temple, John Strangways,
Th i'es Gore, Spencer Cowper, Mr. Ashley, Colonel Finch, C. 8.,
°Maa Knox, Octavius Duncombe, Thomas Nugent, F. F. W
Butler.

cr Majesty held a Levee yesterday afternoon at St. James's

'' BARONETS.—Richard Bulkeley Philipps, John Seale, Oswald
~U°BlOY Denham Jcphson Norreys, Henry }Jailord j James Gra-
"an', William Chatterton, F. Roe, Charles Blunt.
It:claim—Francis Chantrey, William J. Newton.
DEAN of Chichester.
REVEREND DOCTORS—Foord, Bowes, Niblock.
noerorts—Yelloly, Richardson, Travers Cox.
REVEREND MESSIEURS—Principal Macfarlan, G. A. Browne,
J. Horsley Dakins, Charles Klanert.
Massieues—Charles Shakeshaft, C. K. Sheridan, Vaughan,
Pbillpots M.P., Val Morris,Lane Fox, Thomas
Pentland'
Sackville
Hibbert Henry
.!°d, Cracroft, William Craufurd, Middleton, ,s
wii_
,nrPer Walker, George Anson, Standish, John Strangway ,
L'airl Turner, Grenville Berkeley, Adams, Edward Martyn,l Wvird-
"anit Mosley, Stephenson, Philip Howard, M.P., Vilaraliarn
.1 Pelling Pigott, J. M. E. Roche, William Clay, George Cavenoish,
'l,°sePh Gwilt, T. C. Grattan, Howard (of Corby), A. Buchanan,
J. N. Merriman, John Merrinian, Cullen Smith.
MESSIEURS.—.Stepney Cowe:l, Frederick Howard Peking ton,
14. P., Hume, M.P., Gorden, De Horsey, Grant, M.P., Blagden.
ADMIRALS—Sir Charles Rowley, Lord Mark Kerr, Giffard, Sir
rhos. Baker, Thomas Brown, Sir E. Codrington.
CAPTAINS (R.N.)--flindmarsh, Stanhope Badcock, Sotheby,
• H. Ilume Spence, Horatio Austin, Berkeley, Seymour, Phipps
. Hornba, Sir J. Brooke Peahen.
COMMANDERS (ft . .—NV . J .
N ) Williams, Edgell, Giffard, Roche.
LIEUTENANTS ( R. N.)—Armitage, Henry Hawker, Montreson.
(GENERALS—Evatt, Sir Thos. Hawker, Wulff, Lord Bloomfield,
' Sir Thomas Hammond, Sir Geo. Quentin, Sir Fred. Wetherell, Sir
Fred. Mulcastcr, Sir William Pringle, Hon. H. Murray, Taylor,
La Motte, C. 8., George Michell, Sir Edward Paget,
C%
-.K.' p
wb y, Feraseraand Le Mesurier.
COLONELS—Sic Samuel G. Higgins,
K. Taylor, Gore Bsrotawwneen:Le.wadrisdoenr,
Starr, Knox, Wood, C. 8., H., Stepney Cowell,
Sir Surges Camac, Leslie. Money, Astell, Cameron, Oldlield, Beck.
With, Harding, Wood, and C. Cruttonden.
MAJORS—Robe, Croft, Wood, Bevan, Waymouth, and Meade.
' Capaatsrs—Franks, Maughan, John Hine, Mackinnon, M. G.
White, Alfred Francis, Shea, Peter Cameron, Pringle, Sutton, Hal. lidaY C. H. Johnson,Hay, Buller, John Sutton, and Culpeper.
,
la
Lt
C. Forrest, Kirk.
EUTENANTS—C. W. Hamilton Sotheby, W...
nd Guilt, Yolland, A. S. Murray, Steele, F. Whittingha , and
Cha;teris.
ColistETS—Weston Cracroft, Scott. • .
Eastaxs—J. R. Jackson, Paget, James Grant, Henry Leaky, and
Thomas.
, The Earl of Charleville presented an
County, Ireland,
Ittoelahnedr,'Ssfeatjteisntgy
'frorn the Justices of the Peace of King's. tobrth the disturbed state of their districts, the causes which, in
ke!'" opinion, have led to the outrages, and humbly imploring her
aie'tY's protection for the peaceable and well-affected inhabitants
°f that unhappy country.
Ilir Pak ington, M.P., presented ,a petition from Woodhorne, in
NOrta
, Mnberland that her Majesty will be pleased to take into
°°sideration the destitute state of the Church in Canada, and
'4l'e i°n Measures for its protection.
The rr,„ . ,
faie3ty,...,nwing Noblemen and Gentlemen were presented to her
Hon •
. William Stafford Jerninham, attached to her Majesty's Em-
HbasaY at g
enna, by Viscount Palmerston.
ti • G. S. Vi
Stafford Jerningham, Secretary to her Majesty's Leila-
,rs 4,l?..itonnPortugal, on his return from Lisbon, by Viscount Pal.
ria Yell '
Si John°lY, by Sir Benj, Brodie, Bart.
Tlrie Seats, Bart., by Viscount Melbourne.
imrofitZ•ntl:oriiin:ipal Macfarlan, Glasgow College, on being re-ap..
Pointed one of her Majesty's Chaplains fur Scotland, by the Duke
. meharles Shakeshaft, on his appointment to the Honourable
NIC°T 1",,,,"r Gentlemen at Arms by Lord Foley.
triltu'i:.u..,.w.e.otsertto,nlay the Earl of Orkney.
kr, me Lfraeeds, by the Marquis of Conyngham.
, by Earl Amherst.
azi."4": Dr. Niblock, to present a book to the Queen, by Mr.
Vik,,,, C"S Carlisle K.H.
-,l4't Drumlan'rig on his appointment to the Second Life
G --;'''is, , by Colonel 'Greenwood.
I'4
ar' °f Mul ry Scotch Fusilier Guards, by the Marquis of
NiaNrge'4lanbY. "e'
Sir bi'i'°l ly, by the Marquis of Conynghain
Nomearn Jephson Norreys, Bart., M.P., on taking the name of
Lordoen,, by the Marquis of Normanby.h m
141'. cr I tale, by the Marquis of Conyng
, torilacsi°lt, Deputy Lieutenant of the aCOunty of Lincoln, by
54.1,- Worsley,
"nand, her Majesty's Consul-General to Bolivia, on his return
14 f r°T, SO
°t b America by Viscount Palmerston.
St:.
i'rnaa Tod, by the Earl of Minto.
Nit: Val
NlNlis, (Surrey Yeomanry,' by the Earl of Lovelace.
I,ho
rtatighan on his marriage by Lord Byron. . .
of
Rotten_
deo ,v G- A. Browne on his appointment to the living it
hr, tt? "Y Viscount Melbourne.
ri his Physician of the Royal Naval Hospital, at Ilaslar,
r, n cut
,0r,„., . I inch, C. 8., by General Lord Hill, on promotion.
i'lajoxander Roche, It N,, on his promotion, by the 'Earl of Minto.
promotion and ap-
Pairtner,l Taylor, C. 8., Madras Army,
Vent—ent to Companion of the Bath, by Goenneral Sir Frederick
arr }lt herap. G.c. H. ,
kr..i,°YY, by Sir Oswald Mosley, Bart. .
Chamber, on his ap
pb. '‘. Grattan Gentleman of the Pr!
kr(PMent to the Consulship of Boston, tvyyrVailssciotusiadmPtitiellm
Deircsktoennz
a ° htn Pelling Pigott, by Lieutena.ntaGetne
ad:, ' aPpointment to the 32d Regimen
bard Martin, FACI. 28th Regiment Madras
Li oust Bart. '
tr;ntenant Arm, Infantry, by Sir J. C.
;Henry
Ropertaogne'R beingN .
/1011 n llebhouS9'. on Promotion by Lord Minto.
eoF.,..rnanadherroaGcl:fria;
• 4tenant Henry Haw,. promotion and return
Hawker' Royal Navy, on
k r
YrdL,inet:tNetr.,ant General Sir T.
~, aaal Minto.
,0r,„.„ on promotion and return from India, by
k. 41,nier Edgell, by the Earl of Minto.
al)tat, ,\L E. Roche, by Mr. William Roche, M P.
k
'Alia : ; 'loratio Austin, R.N , upon his promotion, by the Earl of
r,
~
CI) ri•
Vivi ',,, Deputy-Lieutenant of Gloucestershire, by Sir Hussey
'404:141;er W. J. Williams, R.N., on promotion, by Captain the
ce4a • J. Berkeley, R.N.
Lt'ar. Aj'lirat Sir Thomas Baker, by Lord Minto.
via, 21‘,tit.iral Thomas Brown, on promotion, by
(salad, T'ral Gifford, by Lord Minto.
t Pandmarsb,- R.N.returning from his Govern-
the Earl of Mints.
S's-e0a,.., t.°,',;a:tn,lth Australia,hythe 11,11arquditos onfsa:tohremhyan,b6yd.t
60th Rifles,
na a. anant Charles William .am Li "" aPPoint a R. N.
tenan.
~. maw, by his father, Captain Sotheby,
a Pool a""ionel Leslie, K.N., on his appointment to the 4th
,olo,el' ,';7Y Lora Hill.
/ the (I,- °od, C.B. K.H., 41st Regiment,
-kat I'd class of the Order of the Bath, by Lord Hill.
~an,
_,:, on his appointment to
col,rnao .
c lonel Gore Browne, upon his appointment to the
aster-
Ge„, ,0 of the Royal Artillery in Gibraltar, by the M
Nano-Taal
,O,f_ the.Ordnanee.
~ron aai„ '''r, Lieutenant-Governor of the Royal Military
•'4air,a-g aPPointed Comnanion of the Bath, b Lord Hill..
College,
-°eral De la Motte, C. 8., Bombay Army, on receiving
Bart
e
eaptainur, of a.
, ,•orripanion of the Bath, by Slr J. C. Hobbiouse,
Cll 01,e Bacicoek R.N. K. 11., by Sir John Pechell, Bart.
Lie,,''.C.ll. '
taiii
Lieiitaht Montresor, FIN on returning from service abroad, by
~ tienant-General Sir Frederick Mulcaster,
au, e
; Henry a.
LeckY. 90th Light infantry, by Lieutenant. General
St4ktit a rag'',eati KC B Colonel, 90th L'ght Infantry.
et .::=acYln°nth, on pro.m.oti;ni, by Lord Worsley. . 1
a:Nan
j" ,ton Cram oft Ist or Royal Dragoons, by Lord VS ors e..
Si, J. R. Jackson, 3Sth Regiment, on appointment, by General
I,it,ut "1. Pigott GC M G
th,,e,4ntColo'nel. Cameron,C.M.
on returning from St. Petersburgh,
Lit,Ccaucasus, and Persia, y the Lord Viscount Palmerstoo.
Part, °lnnei Oldfield, Royal Engineers, to take leave on his de-
a,,lonelre for. the Canadas, by the Master-General of the Ordnance.
„orttwribardiog, Royal Engineers, on being appointed Companion
alajor. li a'atb, by the Master. General of the Ordnance. ..aata in "an, Madras Army, by Mr. William Roche, M.P.
lia!rFranks, 10th Regiment, on
Thomas Bradford, G.C.8., promotion. by Lieut.-General
10.1 a
11cfroft ,Beneal Army, on his promotion, by Sir John C. Hob and G.C. H.
I ale.
aai, aile, on promotion, by Lord Hill,
-
I ',Bart.

Major Robe, Royal Engineers, by the Inspector-General of Forti.
fications, Sir Frederick Mu!caster.
Lieut.-Colonel Courtenay Cruttenden, Royal Artillery, on promo.
Lion, by the Master Genera: of the Ordnance.
Lieut.-Co!onel Beckwith, by Lord Hill.
Second Lieut. Gwilr, Ceylon Rifles, by Sir John Webb.
Lieut. Kirkland, Coldstream Guards, by Colonel Freexantle.
Lieut. William Charles Forrest, I lth Light Dragoons, on his pro-
motion and return from India, by Lieut. Colonel, the Earl of
Cardigan.
Captain Culpeper, 14th I.ight Dragoons, on his promotion by the
Adjutant-General.
Captain John Sutton, 47th Reg. by Lieut -Gen., Sir J. Maclean.
Captain Buller, Rifle-Brigade, by Lord Poltimore.
Captain Hal:iday, 86th R g. by Lieut.-Gen., Sir A. Brooke.
Captain Sytton, Half pay, by Lieut -Gen., Sir J. Maclean.
Ct,ptain Pringle, Coldstream Guards, by Lieutenan-General, Sir W.

Pringle.
Captain Mackinnon, Grenadier• Guards, by Col. Lambert.
Captain John Hine, H. C. S. on his return from China, by the
Earl of Clare.
Lieut. Charteris, by the Duke of :llantrose.
Licut..General Sir Thos. Hawker, K.C.H., on promotion, by Lord
Hill.
Lieut.-General Evatt, on promotion, by Sir Hussey Vivian.
Licut..Colonel Astell, Grenadier Guards, on his return from Canada,
and on promotion, by Col. Lambert.
Col. Staweil, 12th Royal Lancers, on promotion, by Lieut.-General
Sir lb nry Cumming, K.C.H.
Lieut .Colond Leander Starr, A.D.C. to his Excellency the Lieut.-
Governor of Nova Scotia, by the Marquis of Normanby.
Lent— Colonel Kcox, Coldstream Guards, on promotion, by Colonel
Walton.

Ensign James Grant, 42d Royal Highlanders, by Lieut.-General
Sir G. Murray.
Ensign Thomas, 10th Regiment, by Sir D. J. Norreys, Bart., M.P.
Cornet Scott, 12th Royal Lancers, by Colonel Stawell.
Captain Hay, 86th Regiment, by Lieut.. General Sir A. Brooke.
Lieutenant F. Whittingham, 67th Regiment, A.D.C., by General
the Hon. Sir E. Paget.
Lieutenant Steele, Coldstream Guards, by Colonel Fremantle.
Lieutenant Arthur S. Murray, Rifle Brigade, by Major-General
Hon. H. Murray.
Lieutenant Yolland, Royal Engineers, by the Inspector-General of
Fortifications.

Her Majesty gave audiences to the Marquis of Normanby, Vis-
count Melbourne, Viscount Palmerston, Marquis of Lansdowne,
the Marquis of Conyttgham, and the Field-011icet in Waiting.
After the Levee, her Majesty and Suite returned to the new
Palace.

LONDON AND WESTMINSTER

BANK.

The half yearly meeting of the proprietors of the
London and Westminster Bank was held yesterday at
the Company's office, in Lothbury, P. M. STUART, Esq.,
M.P., in the chair.

The meeting was very numerously:attended.
The CHAIRM.kN, in ,opening the business of the day
said, this was the fifth meeting of the Proprietors and
Directors, and he had to congratulate them most sin-
cerely on the decisive and progressive advanlemcnt
which this institution was making as a bank and a com-
mercial establishment in all the attributes that men of
business ought to value in such an undertaking.—
(Applause.) He was glad to see that the prejudices
. _

With which they had to contend were falling away, as
the character of the establishment rose. He congratu-
lated the meeting that the Propriaors were nlw assem-
bled under their own roof for the first time—(Cheers)—
and he trusted this was one of the many items of the
account which the meeting would agree had been dis-
posed of in a judicious and business-like manner. There
was one other point of great importance. He believed
that banks founded on similar principles were calculated
to be beneficial to the commercial public. A general
meeting took place in November of the Proprietors of all
the joint-stock banks in England, Ireland, and Wales, the
object ofwhich was to obtain from the Government a deci-
ded legislative recognition ofthe respectability, usefulness,
and power of such establishments as the present ; and
the result of that meeting had been the simple, but full
attainment of that object. It was known that the laws
framed for small partnerships were not calculated to do

justice to large partnerships like the present, and they
demanded the interference of the Legislature to accom-
modate the law to the new state of things. The Go-
vernment received the Deputation in the most flattering
way, and required a statement of their grievances ; that
was given in some time ago, and he believed that im-
mediately after Easter a legislative measure would be
brought into Parliament, which would be fraught with
great benefit to this establishment, and to all establish-
ments of a similar description.
The SECRETARY then read the following
REPORT

Of the Directors of the London and Westminster Bank, to the
Proprietors, at their fifth annual meeting, held on the Bank
premises, Lothbury, March 6th, 1839.
'The pleasure which the Directors: el in making their Fifth
Annual Report, is augmented by the circumstance of its being
delivered to the Proprietors in. their own building,—an event
that seems to justify a glance at the past history of the Bank.
When the Directors consider, that during the five years of
the existence of this Establishment, they have had to contend
against the fears and prejudices of the public mind,—the un-
certainties and the intricacies of the law, and the opposing
influence of existin4 interests ; and that this conflict has been
carried on in seasons of great commercial embarrassment, and
under circumstances of peculiar difficulty ; and that amid all
these disadvantages, they had nevertheless acquired a paid-up
Capital of nearly Six Hundred Thousand Pounds, between
Eight and Nine Hundred respectable Proprietors, a large and
increasing business in London, and a Country Connexion that
embraces one hundred and fifty Banks and branches ; they do
feel that the result of the first experiment of establishing a Joint
Stock Bank in London has been highly satisfactory, and that
the confidence they expressed in their first annual report has
been abundantly confirmed.
Although a low rate of .interest prevailed the last year, the
Directors did not allow the desire of making larger profits to
tempt them into advances upon inferior securities, or to lock up
their funds in inconvertible investments. They feel assured,
that any departure from sound principles in banking, even when
attended with immediate profit, must always result in loss to
the Proprietors, and danger to the establishment.
The profits of the last 3 car, after defraying all the current ex-
penses, and after making the most liberal allowance for all bad and
doubtful debts, amount to 46,1351. 12s. Ild. From these profits
the Directors now propose to declare a dividend at the rate of
five per cent. upon the paid-up capital. After payment of this
dividend, there will remain a surplus from the profits of the
year of 16,271/. 12s. I Id. This sum, added to 7,067/. I Is. 2d.,
the surplus remaining from the profits of former years, makes a
total of unappropriated profits of 23,3391. 4s. ld.
The period has now arrived, when the Directors think they
may with propriety pay the dividends half-yearly. But as this
will require an alteration in the deed of settlement, the Direc-
tors intend, at an early period, to call a special meeting of the
Proprietors for the purpose of making such alterations as may
be necessarry to empower them to declare a dividend on the
10th of September, and on the 10th of March.
The Balance of the Fund arising from Premiums on Shares,
amounted on the 31st December, 1837, to 20,0031. 19s sd. out
of this fund has been paid during the last year 1,374/. Ils. ld.,
the final charges connected with the legal proceedings of the
Bank of England. The balance, 18,1291. Bs. 4d. has been
transferred to the credit of the new building.
After deducting 1,0001. received from the City of London,
for the ground surrendered to widen the street, and 1,4081.
3s. Id., realised by the sale of the old materials, the total cost
of the new building, including the purchase of the ground, the
erection of the edifice, and the fittings and furniture will
amount to about 47,0001. Against this sum the Directors have
set off 18,1291. 18s. 4d. remaining from the premiums on shares.
This leaves a balance of about 29 000/. This nes freehold
building will, therefore, stand in the books of the Company,
either as a permanent asset for that amount, or this sum will be
discharged out of the surplus profits of future years, as the
Directors may hereafter determine. In the mean time it will
be satisfactory to the Proprietors to hear that a portion of this
building is let off at a considerable rent.
The Directors have co-operated with the Joint Stock Banks
throughout the country, in the proceedings they have recently
taken for the purpose of bringing the defects of the existing
laws with regard to banking under the notice of the Govern-
ment and the Legislature, and every effort will be made by the
Directors to effect the removal of these evils.

The Directors have further to call the attention of the Pro-
prietors to the retirement by rotation, as provided by the
Deed, of three of their body from the Direction—viz., Fre-
derick Burmester, Esq., Lord William Robert Keith Douglas,
and Patrick Maxwell Stuart, Esq. These gentlemen being
re-eligible, offer themselves accordingly.
It may be expected that some notice should be taken in this
Report of the extension of the system of Joint Stock Banking
in London. This will not, in the opinion of the Directors,
militate against our interest, as those principles, which we were
the first to advocate, will thus be more widely disseminated.
Hence all banking companies that may be respectably and
honourably conducted, will be regarded by this bank, not as
rivals, but as allies. At the same time the Shareholders
sh iuld bear in mind, that as Joint Stock Banks multiply
in London, each bank will have to depend mainly upon the
support of its own proprietary. And the London and West-
minster Bank having been first in the field, ought not to
suffer itself to be passed in the course by later and more youth-
ful competitors, But if the exertions of our Shareholders, be
at all proportionate to their numbers, their wealth;and their res-
pectability, the London and Westminster Bank will not only have
thehonoer of being the first joint stock bank in London, in the or-
der of time,but in other respects also w ill be enabled to maintain
the pre-eminence.