The Sun.
London, England, 1854-07-19 00:00:00

FOURTEENTH REPORT of the DIRECTORS
of the COMMERCIAL BANK of LONDON for the year end-
, leg June 30, 1854.—At an ANNUAL GENERAL MEE LING of the
8n
—AREHOLDERS, held at the Banking House Lothbury, on Tires-
, daY, the 18th of July, 1854,
DIRECTORS.
THOMAS BARN EWALL, Esq., Chairman.
MARK HUNTER, Esq , Deputy-Chairman.
ChDickson,Charles Di Archibald, Esq. Jonathan Hopkinson, Esq.
Charles Butler, Esq. William Jackson, Esq., 51,P.
John Alfred Chowne, Esq. Edward Oxenford, Esq.
George Clive, Esq. John Savage, Esq.
William Cooper, Esq. Joseph Thompson, Esq.
James Alexander, Douglas, Esq. Joseph Underwood, Esq.
Charles Hill, Esq. Thomas Winkworth, Esq.
1 Manager—Mr. Alfred It. Cutbill.
14_8011citors--Messrs. Amory, Travers, and Smith, and Messrs.
i orris and Sons : -
The manager read the advertisement calling the meeting, and
afterwards the following
REPORT.
The Directors have the satisfaction of presenting to the sharehold-
tre the fourteenth annual balance-sheet, from which it will appear
hat, after paying all expenses and making provision for bad and
doubtful debts, the net profits of the bank amount to 36,9501. Os. 11d.
A dividend, at the rate of 6 per cent. per annum for the half year
ending 31st December, 1853, has been already paid, and the Direc-
tors have now to declare a dividend for the half year ending 30th
Jmne, 1854, at the same rate, with a bonus of 16s. per share—both
dividend and bonus free from income tax.
After paying this dividend and bon us, there will remain a balance
of 1,445/. 9s. 3d. to be carried to the reserve fund, increasing that
fund to 64,0121. 6s. 11d.
In compliance with the provisions of the Deed of Settlement, the
following directors, viz., Charles Butler, Esq., William Cooper, Esq ,
Mark Hunter, Esq., Joseph Underwood, Esq , retire from office, and.
being eligible, offer themselves as candidates for re-election.
COMMERCIAL BANK OF LONDON.
BALANCE SHEET TO JUNE 30, 1854.
Capital subscribed.... • • .... .. £1,500,000
Capital paid up ••..••••• • .. •• • • ................ £300,000 0 0
' Guarantee fund invested in Government securities 62,566 17 8
Balances due to the customers of the Bank ...... 1,2(55,903 0 8
Balance carried down after deducting bad and
doubtful debts, income tax, and all charges and
current expenses ........ ••••••••—• • • • '• • • • • 36,950 011

£1,665,419 19 3

Cash in hand, Government securities, India Bonds,
bills discounted.. ...• .. ••• . • • .... ~.. .... .... £1,665,419 19 3

Dividend at the rate of Cl. per cent per annum, for
the half year ending 31st December, 1853, al-
.. £9,000 0 0
Dividend at the rate of 6/. per cent. per annum for
the half-year ending 3ith June, 1854 .... „ 9,000 0 0
bonus of 16s. per share, equal to 4 per cent. per

annum
Rebate of Interest on current bills carried to profit
..ad Iva new account ...............
Balance carried to the guarantee fund, making that
fluid 64,012/. 6 1I ..........................

12,000 0 0

5,504 11 1

1,445 9 3

,950 0 11

ladance brought down .. ••.. • • . £36,950 0 11
The report and balance sheet having been read it was
Resolved,—That the report and balance sheet just read be ap-
Proved, printed, and circulated amongst the proprietors,
The chairman, Mark Hunter, Esq., on the part of the directors,
declared a dividend on the paid-up capital of the Company at the
rate of 61. per cent. per annum, and a bonus of its. per share, both
free from income tax, payable on and after the 31st of July next.

Resolved —That the following Directors, viz., Charles Butler, Esq.,
*William Cooper, Esq , Mark Hunter, Esq., Joseph Underwood, Esq.,
'Who go out of office in pursuance of the Deed of Settlement, be re-
elected Directors of this Bank.
Resolved—That the thanks of this meeting be presented to the
loirectors for their attention to the management of the affairs of the
tank during the past year.
Resolved—That the thanks of this meeting be given to Mr. Cut-
bill for the zeal and attention displayed by him at all times in the
conduct of the affairs of the Bank.

MARK HUNTER, Chairman.

Resolved unanimously—That the thanks of this meeting be pre-
tented to Mark Hunter, Esq., for his able and courteous conduct in
the chair this day.

(Signed)

A. R. CUTBILL, Manager.

COMMERCIAL BANK of LONDON.—
The Directors HEREBY GIVE NOTICE, That a
DIVIDEND en the paid-up capital of the Company, at the rate
"61- per cent. per annum, for the HALF-YEAR ending 30th June,
1854, and a BONUS of 16s. per share, both free front Income Tax,
Will be PAYABLE at the Banking House in Lothbury on and
alter the 31st July inst.