The Sun.
London, England, 1865-03-01 00:00:00

Lime-street, E.C.,
Jam Rogerson, Esq. (Messrs. John Rogerson and Co., Lon-
don and Newcastle-on-Tyne).
The fit n. Richard Thomas Rowley, M.P., 47, Berkeley-
square, London.
William Taber, Esq., Director of the Imperial Bank.

BANKERS.
The London and County B ink, Lombard-street.
The Imperial Bank, Lothbury.
SOLICITORS.

Messrs. Sole, Turners, and Harawiek, 68, Aldermanbury.

SECRETARY.
J. W. Lambert-Smith, Esq.
CONSTANTINOPLE BRANCH.
ADMINISTRATION.

M. Apik Effendi Tinghir, President.
M. Stefano Mavrogordato, Director-General.
M. Michel Timoni, Manager.
SMYRNA BRANCH.
ADMINISTRATIVE COMMITTEE.
M. Stephen Maltase.
M. Anthony Pittaco.
M. George Constantinidi.

FIRST REPORT of the DIRECTORS, submitted to the
Ordinary General Meeti g of Proprietors, at the London
'Lavern, on Tuesday, the 28th February instant.

George P. Kitson, Esq., in the Chair.

The Directors lave the pleasure to submit to the share-
holders a Balance-sheet ana Statement of Accounts, duly
ituditeArto-the irtst'December,-28St.
The business of the Association commenced in London on
the Ist June. Tne Smyrna Branch was opened in August,
and the t. onstantinople Branch in September.
The Directors propose that the financi,,l year shall termi-
nate on the 30th June in each year. They now furnish for
the information of the shareholders accounts and balance-
sheet to t ue 31st of December last, and they recommend that
an interim dividend of 10s. per share be paid, that £2,CO i be
put to Reserve Fund, leaving a balance of .£6,533 Is. 6d. to be
carried forward.

The Directors feel that, notwithstanding the recent critical
state of commerci .1 affairs, and the opposition of competitive
establishments, they have good cause to congratulate the
shareholders upon the success which has ben hitherto
achieved by the Association, and they have the tulles.; con-
fidence in its future prosperity.
Mr. Mavrogordato, Director-General of the Constantinople
Administration, has arrived in England to represent the
shareholders of Constantinople at the General Meeting, to
confer with the London Board as to the organisation of new
branches and agencies in Turkey, and to devise, measures for
the future extension of operations.
The Auditors appointed by the Board, pursu .nt to the
Articles, are Mr. James Cooper, of the firm of Messes. John-
stone, Cooper, Wintle, and Evans, and air. Edwin H. Gals-
worthy. 'i hese gentlemen retire, and, being eligible, offer
themselves for re• election.

THE OTTOMAN FINANCIAL ASSOCIATION (Limited).
SALA:NCB SHEET, 318 T DECEMBER, 1861.
DR.
ro Capit called up, viz.:—
London, £lO per share,
on 10 ,000 shares £lOO,OOO 0 0
Less arrears .. 650 0 0
--£99,350 0 0
Constantinople, LlO per
hare, on 1,675 shares£l6,7so 0 0
less arrears 3,667 0 0
---13,183 0 0

S nyrna, £5 per share,
on 2,045 shares ...£10,225 0 0
Less arrears .. 350 0 0

9,875 0 0
£152,408 0 0
To sundry creditors on bil a payable, current,
deposit, and Lther accounts 406,179 1 11
To frofit and Loss Account, as per annexed
statement • • • • .. 23,203 13 7

£581,78715 6

Cit.
By cash in hand at bankers and on deposit in
London and branches .. • • .. .• 5,82,804 12 5
By bills receivable 9!,135 12 11
By investments and loans 395,355 0 7
By office aumiture in London and Turkey .. 898 9 6
13y Pre iminary Expenees :
In London L 7,414 10 7
Opening bran hes in the Otto-
man Empire . • • . .• 2.179 9 6

9,594 0 1

£581,787 15 6
PROFIT AND LOSS ACCOUNT.

DR.
7A; current expenses, including salaries,
Direztors' fees, stationary, advertisements,
rent in London and at branches, and other
charges ,• • • • • •
To interim dividtilld, at 108 per share

To reserve fund
To balanle carried to new account, subject to
an amount for rebate not exceeding .C3uo..