The Sun.
London, England, 1854-08-05 00:00:00

ROYAL BRITISH BANK.

The dividend declared at the half-yearly meeting of
the Royal British Bank, held today, was at the rate of
6 per cent., free from income-tax, and the report and
accounts were unanimously adopted. The whole of the
discussion was of a congratulatory character, the progress
of business being considered satisfactory. The unappro-
priated balance at the end of the last half-year was 1,1421.
15s. 5d., and the net profits for the six months just
ended have amounted to 3,3541. 14s. 2d., making a
total of 4,497/ 9s. 7d. Of this, 1,500/. will be absorbed by
the dividend, 1,5001. will be added to the reserve fund,
and 6281. 6s. 2d. is to be applied to preliminary ex-
penses, leaving a balance of 8691. 3s. sd. Annexed is
an abstract of the report :
" The directors have to report that the business of the
bank continues to increase. The number of accounts now
open is 5,562, on which the operations during the past
half-year have amounted to 19,089,861/. lie. Bd., being a
large addition to the amount for the preceding six months.
The increase of the profits has not been in a corresponding
ratio, because of the larger interest which has been paid,
and the allowance to depositors for new shares of the same
rate (6 per cent.) which has been reckoned for dividend.
The directors have thought it right to put the depositors
for new shares on the same footing in this respect as the
the holders of original shares, because at the last half-
yearly meeting the directors believed, and gave the depo-
sitors reason to expect, that ere now the supplemental
charter would have been completed, and the scrip which
had been issued to the depositors converted into certificates
for new shares ; but, owing to some technical difficulties in
framing the charter, the solution of which was referred by
the authorities at the Board of Trade to the law officers of
the Crown, and the great pressure of business on thelatter
during the sitting cif Parliament, they had not until the
21st ult. been able to meet in conference as required by the
Board of Trade to answer the queries officially submitted to
them. The directors have every reason to hope that the
doubts which existed at the Board of Tradeasto the power
of that department or of the Crown to comply with the
wishes of the directors—that the capital of the bank should
be increased, and that to, by gradual additions from time
to time, as the business of the corporation may render ad-
visable—will be satisfactorily removed. They therefore
confidently expect that the details of the supplemental
charter will be adjusted in the course of the current half-
year in such a manner as will make it competent for them
to exercise the reserved powers of the original charter for
the gradual increase, from time to time, of the capital of
the bank, up even to its maximum amount of 2,000,0001.
subscribed and 1,000,0001. paid up. The directors, however,
continue to think that any such large capital never can be
necessary nor useful. But the right to resort to it, should
the public remain of the hitherto prevalent opinion, that a
large amount of paid up capital is indispensable to success-
ful joint-stock banking, will bo an important privilege to
the Royal British Bak. The progress of business at the
new branches opened on the 2d of January last in Pimlico,
and on the Ist of July in the Borough, justifies the hope
which induced the directors to select those localities for
extending their operations, and they hope they will be still
hiocnh thhaesybpeeronpmosaedeoptehniisnhgailnf-yacr-
cadilly. The usual
n addition which
to the reserved fund and to the clerks' fund, toe latter of
which is now 1,2261. 9s. d., and the former 12,416/. ss. Bd.
tax, will, b
each at the rate of six-per cent., free o income e
The dividend and the interest on the f scrip for new shares,
payable on after the 21st inst."

" LIABILITIES.