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London, England, 1865-01-12 00:00:00

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Balance, being undivided profit carried for-
ward to next half-year

THE NOWGONG . TEA COMPANY of
ASSAM (Limited).
Tu be incorporated under the Joint-Stock Companies Act of
1862. Capital, £250,000, in 25,000 Shares of £lO each. First
issue 18,(00 Shares.
minimum Dividend of 10 per cent. per annum payab'e on
Ist January and Ist July, guaranteed for Three Years by
the Vendorr.
Deposit 10s. per share on application, and a further 10s. per
share on allotment.
No call to exceed XI per share, or to be made at a less interval
than Three Months from a previous call.

DIRECTORS.
George It. Barry, Esq. (late of Serajgunge, Bengal), 6, Upper
gYde Park-g,ardens.
Ewen Macdocell Esq , M.D. (late of the Opium Agricultural
-7,Tiartment, Bengal 2), St. Stephen's-square, Bayswater.
sat rGcl lqumiord, Esq.' (Messrs. Bartrum, Pretyman, and
llmford), Director of the Upper Assam Tea Company.
texander Stewart, Esq. late Deputy-Commissioner of
Custom,, Guzerat, and Director of the North London 2, Talbot-terrace, Bayswater.
“2."larn Thomson, Esq. (late of Calcutta), 2, East India-
'venue, India House, Leadenhall-street.
With power to add to their number.

BANKERS.
Agra and Masterman's Bank (Limited', Nicholas-lane, Lom-
bard-street.
SOLICITORS.
Messrs. Thomas and HoEarns,
BROKER.
kesars. Lowndes, Surgey, and WoS
olley, 1, Royal Bxchange-
buildings.
SECRETARY.
OM, Alexander Forbes, Esq.
es— 2, East Irdia-avenue, India House, Leadenhall-
• • street. E.C.
Trm; PROSPECTUS.
Company is formed for the purchase of thirteen
ofValuable estates already in profitable cultivation, situated in
fProvince of Assam, in British India, and for the purp•;se
urther developing and extending their operations.
Alle property consists of 12,000 acres of freehold land, held
miroct from Government, of which 2,182 acres are planted
with tea plants of- the following ages—namely, 440 acres, 3
rears old ; 902 acres, 2 years old; 440 acres, 1 year old ; and
400 acres, just planted.
* ePortThe soli and e imate of this locality are second to none in
Prevene, as thel'ollowing extract from the manager's
to the directors of the Bishnath Tea Company, a neigh-
concern, for the season ending 31st December, 104
and submitted by them to the shareholders, will show:—
. of "The out-turn of tea and seed has been unprvedented in
The plantation in its fourth year has given an ave-
rage 390 lbs and the two year old gardens of 240 lbs. of
lea to the act e .;
and this has been obtained at no sacrifice to
prospects of future years, but with caful and light
Welting, as is evinced by the present healthyre appearance of
Plants, which, I have often been assured, are, in size and
vigour, unqurpassed by any plantation of the age in Assam."
Ihe dividends paid by the Assam, the Upper Assam, the
Jorehaut, Bishnath, and by several ot the other tea corn-
Panics in Assam, vary from 20 to 30 percent., and their shares
are at a premium of 100 to 200 per cent.
The factories have the advantage of being traversed by
good roads and navigable rivers, and steamers ply between
Assam and Calcutta, affording great facilities for the supply
of labour and for the other requirements of the estates. Not
less than 8,000 acres can be brought into profitable cultiva-
tion ; and each acre, when in full bearing, is capable of pro-
ducing at least 900 lbs. of tea.
The plantations are calculated to pro ince, during the first
year of the Company's operations (1861-65), returns sufficient
to yield 10 per cent. on the paid-up capital; and the vendors
guarantee a minimum dividend at the rate of 10 per cent.,
payable half yearly, upon the paid-up capital fur three years,
to be calculated from the date of the registration of the Com-
pany. At the expiration of the three years the plants will
be sufficiently advanced to give progressively larger divi-
dends, until the whole have attained maturity and yield a
maximum return.
The price to be paid for the property is £163,000, payable
by annual instalments, with interest, at 5 per cent., extend-
`lo9 over a period of six years.
. These terms the directors consider to be most advantage-
ous, as, while they show the confidence of the vendors in the
value of the property, the easy instalments as to payments
will enable the young plants to grow up into full bearing:,
II
_el. to yield large returns before the greater part of the capi-
tal )5 called up.
The undertaking originates wiih the Directors and their
_l•rirends No protnotlon-money will be paid to any one, either
or indirectly, and the preliminary expenses will be
tiY confined to such as are absolutely necessary:
_ile vendors stipulate that 6,000 of th sh ares are to be
totted to them ; 6,009 of the remaining shares have been
alreadypublic. Sabscrtbed for, leaving '6,000 shares avallab.e for the
--TICITLARS OF THE ESTATES OF THE NOW-
reT&ONG
BORKOA TENCODOLEE DIMPANY OF ASSAM (Limited).
obonaists of the factories of Borkondolee, Loongpoong,
bi,t°rlFee, Topotjsoree, and Rembeiy,,, all in the Nowgong
aionoli, on the banks of the rivers htillung and Nonoye, and
in 4 ,1.0 grand trunk road from Ooboka to Nowgong vary-
-01
inultistance from the station from 8 to 16 miles. Extent
2. 1,,":.,6000 acres ; of which 1,117 are planted.
BAMONEE DlVlSlON—
lacie"elata of the factories of Bamonee, TopotjOoree, Am-
lah aenglit_at.:.Borhooiah, Sassabat, Deejoomook., and Sepanul-
'within 7' Nowgong- District, the principal factories being
situate nu es of the station, and the others conveniently
c'2 the banks of the rivers Kullung, Nonoye, and
varyingDe
6,000
acr, crui Bto 20 miles from Nowgong. Kxtent of land,
ot which i,005 are planted.
had from
r°sPeettui sea and forms of application for Shares can be
.....__P4ll7* Secretary, Or from the Brokers of the Com-
rlE NoWGONG TEA COMPANY OF
ASSAM (Limitei).
Lit ‘VE,
bijej:TeroB):plications for Shares can be received
yip 14-SDAY, the 18th inat ,on which date the Shsre

By order.
A. FORBES, Secretary.
rplarry..,
At a llalf- N.
iliißD REPORT
,_ BANK OF LONDO of the UNION
s held at the
‘2,...0Urt.,„:x early 111 tine" of the Proprietor .
M sion
Lieu '" bt th -'"• " se 2, Princes-street, an
se, 04 wo e Banking-hou , 1865,
P, No , "nesday, the 11th January,
in the
It tIIALL LAURIE, Esq., Governor,
The foib, , Chair,
Th AVII9 PEPORT was read :
e D. ' '
e
lreefors h t t that the net rofits of th
aek to ave o repor
December last, after
..,_
Trt r the six months ending 31st
ry ent of all char • i 1 11 .. the sum of (14,375
delo interest hard
( nc w n,
heir current and
msit paid at,d due t, customers on.
all bad
2,,, • accounts), and making ample provision for
`/ doubtful d - 2s. lid., which, with
£36 ; debts amount to £180,19.)
to
tlBl.ssiVBlldoulit forward from 30th June last, amount
The Directors now declve a dividend for the last six
months
nue of
2i at the rate of 15 per cent. per annum, and abo
of per cent. on the increased paid-up capital, being at the rate
per cent. per annum, clear of income tax.
The 2
0,600 new shares 'issued under the authority of the
Special General Meetings held in July last were all claimed
uy the k ropri-tors, except 65 shares ; and in order to com-
plete (he capital, the Directors have debited the profits of the
alt' year with £1,950, the amount of such unclaimed shares.
In accordance with the resolutions of those special general
meetings, the p id-up capital of the Bank has been thus
raised from 4900,000 to Z 1,200,000, and the reserved fund
from £67,000 (the amount at which it stood in July last), to
£300,000, by the addition of £233,00r) part of the amount re-
ceived from pre. turns on the new shares.
The Directors are of opinion that the reserved fund is, for
the present, adequate in amount, and they have therefore
appropriated the balance oi the premiums on the new shares,
amounting
count. to X 67,000, towrds a building investment ac-
After payment of the dividend and bonus, amounting to-
gether to £119,182 10s., and appropriating £67,600, received
from p, emiums, in the building investment account, there
will remain a balance of £61,375 19s. Id. to be carried for-
ward for appropriation at the end of the financial year in
July next.
The Directors recommend that the 65 unclaimed shares
Should be placed at their disposal, to enable them to apply
the dividends ;n the temporary relief of some of those urgent
and unforeseen cases of pressure from illness which occa.-
atonally occur amongst the clerks in the establishment.
THE UNION BANK OF LONDON.
For the Half-Year ending 31st December, 1864.
GENERAL BALANCE,
Du. LIABILITIES.
Capital,—,£lO per Share paid up on
60,000 Shares X603,000
£5 per Share added out of
reserved fund ..... 300,000
£l5 per Share paid up on
20,00) Shares, 1864 300,000
Due by the Bank on current sezounts, de-
xi,zoo,ooo 0 0
posit receipts (including interest accrued),
and other t.bligations
18,107,393 3 7
IteEorved Fund, invested in Consols, as per
contra
Bet ate . • 300,000 0 0
Buildings Investment Account
67,000 0 0
on Bills not due
47,302 4 2
Balance at credit of Profit and Loss ..

220,602,253 36 10
CR.
ASSETS.
Cash In Bank ...... . ........ . £873,527 2 7
in the Bank of Englancl.. 600,778 6 10
„ lent at call .............. 1,038,000 0 0

£2,532,305 9 5

Investments in Government Stock, Exche-
quer Bills. Debentures, &c ..... . £437,078135., Consols Reserve Fu.......... 1,227,0 r 9 6
Fund.... .... 0 0 0
Bank premises—consisting of freehold build-
30 .',OO
ings in Princes-street, Mansion Rouse-
street, Argyll-place, Fleet-street, and
NChance yrll-mal-lane ;l
East
lease and ttxtures of
o. 4, Pa..................
13
Loans, Bills Discounted, Ste ......... .. 150,451
453
..... 16,359,453 4 11

Z 20,602 16 10
PROFIT AND LOSS ACCOUNT ,253.
DR.
Dividend at the rate of 15 per cent. per annum £99,385 17 6
Bonus, 21 per eclat...—. 29,795 12 6

4E119,182 10 0

61,375 19 1

£180,558 9 1

Profit unappropriated on 30th June, 1864 : • •
Amount of net profit of the half-year ending
list December, 1804, after deduct ing all ex-
Penses and interest, paid and due (£161,375
12s. 4d.), allowed to customers on their cur-
rent and deposit accounts

£363 6 2

£180,558 9 1

. The Governor then declared a dividend for the past half:
ear at the rate of 15 per cent, per annum, and a bonus of 2i
Per cent., clear of Income tax.
It Was resolved unanimously,
lalia hat the report now read be adopted, printed, and drew. „,' ~, amono• the proprietors.
the+ nrf.t the 'Well-deserved thanks of the meeting be given to
t 6 s",^vernor, the Deputy Governor, and the Direct. ire, for
hav-:.le, judicious, and profit ble manner in which they
3,,,reenducted the affairs of the Bank during the past ball-
wThat the best thanks of the meeting be given to Mr. W.
lit'Y Scrimgeour, the General Msnager for the zeal and abi-
BO
tant dukes. ng displayed by him in the discharge of his impor-
That the thanks of the meeting be given to Mr. Barton. the
lvranavr ; Mr. Ingpen, the Manager of the Regent-street
branch ; Mr. St. Rarbe, the Manager of the Charing-cross
Branch ; Mr. Beattie, the Manager of the Temple-bar
Branch ; and to Mr. Newmarch, the Secretary, for the zea-
lous and efficient manner in which they have discharged their
several ditties.
(Signed) P. NORU TALL LAURIE, Governor.
That the thanks of the meeting be given to P. Northall
day,
Laurie, Esq., the Governor, for his conduct iu the chair this
(Signed) JAMES FARQUHAR, Deputy-Governor.
Extracted from the Minutes.
. 13EV1LLE, Assistant-Secretary.
—rN. IL.--The dividend aond bonus Will be payable 041 and atter
x. lcial, the 20th instant.