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 to-day, 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-
pense, 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 19,089,8611. lls. 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 of 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 submittedto
them. The directors have every reason to hope that the
doubts which existed at the Board of Tradeastb 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 too 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 be an important privilege to
the Royal British Bank. The progress of business at the
new branches opened on the 2d of January last in Pimlico,
and on the let 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
more fortunate in one which they propose opening in Pic-
cadilly.fandned
thni se hrlatteralf -y e
ofa
which is now 1,226/. Os.
to the reserved
Theund
ufsualaadnddititoonthhaes
shares,
payable dividend and the interest on the scrip for new
c beenle r k s m'
1., and the former 12,416/. ss. Bd.
payable on after the 21st inst."
each at the rate of six per cent., free of income tax, will be

" LIABILITIES.

DR.
To commencing capital, as per charter, one-
-1.00,000 0 0
half paid up
Amount due for deposits on
account of new shares... £43,080 0 0
Deposits for fixed periods
and floating balances on
drawing accounts, &c... 805,285 2 2
848,365 2 2
Amount duo on the promissory notes or
bills of the bank payable to order, and ac-
ceptances for customers' current. 50,025 16 2
Clerks' fund
Reserved fund, as at 3d
February, 1854, as per
report for fourth year... £10,7C6 6 11
Dividend .

£10,916 5 8
Unappropriated balance
at ditto 3,142 15 6
Gross balance for the half-
year ended 30th June,
1854, after providing for
interest (12,1941. ls. 9d.)
paid and due on deposits,
promissory notes, and
balances 11,847 12 6

i ' ASSETS.

CR.
By uncalled-for stock
Loans on convertible securities for short
periods, advances on cash credit ac-
counts, bills discounted, &c 760,616 19 8
Balance of preliminary expenses, to be
liquidated by yearly instalments 13,572 4 7
Property of the bank, in buildings and fur-
niture, to be liquidated by yearly instal-
ments
Investments in Government stocks 58,431 5 1
Cash in hand, and in the Bank of England 126,903 18 8

£1,027,524 1 2
" PROFIT AND LOSS ACCOUNT.
Da.
To expenditure of the bank for the half-year
ended 30th June, 1854, at its chief office
and four branches
Amount voted to directors at annual meet-
ing, February, 1854 • 2,000 0 0
Amount set apart for liqu;dation of preli-
minary expenses, 30th June, 1854
Dividend (free of income tax) for half-year •
ended 30th June, 1854, at 6 per cent
per anvurn
Reserved fund, as at 3d
Feb., 1854, as per ba-
lance sheet
Dividend thereon (31 per
Cents.)
Set apart to be added to re-
served fund, as at June
30, 1854

Resorved fund, as at -
last date
Unappropriated balance
carried to new account 869 3 5

13,285 9 1

£25,90613 7
CR.
By gross balance and reserved fund, as
above, brought clown
By reserved fund and unappropriated ba-
lance, as above, brought down £13,285 9 1

THE COAL DEMAND IN WALES.—The great demand in
every portion of the globe for coal, both anthracite and
soft for steam purposes, has given a wonderful impetus
to the coal districts of South Wales. Every collier is
in full employ, and more labour is required. New coal-
pits have been sunk in every direction, and it is in con-
templation in other localities to sink shafts. Very supe-
rior coal for steam-purposes has been found at the
Mountain Ash pits, where shafts 300 yards in depth
have been sunk, taking 4 years in the operation. They
are the deepest in Wales, and the vein has proved to be
6 feet in thickness. On the property of Mr. Crawehay
Bailey valuable bituminous coal has been discovered.