The Sun.
London, England, 1854-01-24 00:00:00

UNION BANK OF AUSTRALIA.

At the meeting of the Union Bank of Australia held
yesterday, the dividend declared was at the rate of 20
per cent., and the report and accounts were unanimously
adopted. The chairman (Mr. Buckle) stated that
the business of the establishment continued to make
satisfactory progress, and that the effects of the expansion
of trade in the Australian colonies had been manifested
by an increase in the deposits from 1,500,0001. to
3,700,000/. in the year ending the 30th of June last,
while exchange operations had augmented the sum for
bills drawn from 1,028,000/. during the six months end-
ing the 30th of June, to 2,111,0001. for a similar period
ending the 31st of December last. Annexed is an ab-
stract of the report
" The advices received from the branches since the
date of those embraced in the last annual report afford
strong evidence that the expansion of banking transac-
tions throughout the Australian colonies has not been
over-estimated by the directors. The prosperity of this
bank has fully kept pace with this enlargement of busi-
ness, the cessation of large profits in gold purchases
having been in a very great degree compensated by an
increase in the ordinary profits of the bank ; and it is
satisfactory to state that the bank has not sustained any
loss in the altered state of commercial affairs in the cola
vies. Mr. W. Fletcher having wished to be released
from his duties as inspector, the directors have accord-
ingly named as his successor Mr. A. M'Donald, the
manager at Sydney. The directors proceed to sub-
mit the statement of accounts, which presents an
amount of profit for the six months now reported of
164,6931. 14s. 3d. This profit admits of 164,0001. being
appropriated for the purpose of dividend to apply as in-
terest on the paid-up capital, and the same will there-
fore furnish a dividend by way of interest at the rate of
20 per cent. (for the half-year) on the amount paid up
in respect of each share in the capital of the company,
payable in London, free of income-tax, on Tuesday, the
7th of February, and in the colonies, with the addition
of 7d. in the pound, as soon as the inspector shall fix
after the receipt of the advices.

STATEMENT OF LIABILITIES AND ASSETS AT THE
BRANCHES ON THE 30TH OF JUNE, 1853, AND AT THE
LONDON OFFICE ON THE 31ST OF DECEMBER, 1853.
LIABILITIES. £ s. d.
Circulation 879,242 0 0
Deposits 3,730,360 18 1
Bills payable, and other liabilities 475,302 9 10
Balance of undivided profit
Reserve fund......... £200,000 0 0
Paid-up capital

1,020,000 0 0

£6,284,672 8 7

ASSETS.

Specie on hand, and ----
cash balances 1,706,134 5 3
Bullion

2,578,910 5 3
30,000 0 0

Bank premises and other property
Bills receivable, Government Stock,
and other securities 3,475,762 3 4
Investment of reserve fund (31 per
cent.)

200,000 0 0

£6,284,672 8 7

STATEMENT OF PROFITS.

Balance of undivided profit at June,
1853
To which are now to be added the
profits of the past half-year, ending
at the blanches the 30th of June
and at the London office the 31st
of December, 1553

179,073 6 6

164,693 14 S

343,767 0 8

Deduct amount of interest paid at
Midsummer, ] 853

164,000 0 0

Balance of undivided profit at this
date

£179,767 0 8

RESERVE FUND.
As reported at June, 1853 £200,000 0 0

RUSSIAN PRODUCE.—In the markets for Russian pro-
duce there has been great additional excitement yester-
day. A further advance of is. 6d. per cwt. has been
paid for tallow, and of 1/. per ton for hemp. At Liver
pool, also, there was a rise this morning of 2i. per to kb
palm oil.