The Sun.
London, England, 1849-12-13 00:00:00

ina JO, N it
• ;, •

ORIENTAL BANK.—(THIS DAY.)
The annual general meeting of the proprietors of
the Oriental Bank was held this afternoon at the
office of the company, in Walbrook. Mr. H. G.
Gordon, Chairman of the Court of Directors, in the
chair.
The report stated that the accounts now laid before
the meeting embraced the half-yearly proceeds to
which the books were balanced, namely, at the
branches in India, Servia, and China to the Ist of
March and the Ist of September, and in London to the
Ist of June and the Ist of December respectively.
The result of the balancing of the books showed a
profit for the half-year, ending the Ist of June, of
41,575/. Bs. 21, and for the half-year ending the Ist
o f December, of 34,4501. 17s. 44., being a full
profit on the operations of the year, after deducting
all charges, of no less a sum than 77,0261. ss. 61
This amount of profit, though large and satisfactory.
was less than that of the preceding year, but it
was easily accounted for in the contracted
business which the managers of the bank
had deemed it prudent to engage in until
the creditand confidence, so fearfully impaired by the
cornmeresial,disasters of 1847, were fully restored. The
direc!ors still deemed it proper to persevere in
their present cautious and prudent course of manage-
ment ; but, nevertheless, they were confident that
etch succeeding year would exhibit profits equal
to any the bsnk had hitherto earned. The
proprietors were aware that out of the profits
ter the half-year ending the Ist of June
last a dividend of 31 per cent., amounting to 32,485/.
58., was declared, leaving a balance of 10,090/. 3s. 21,
to be carried to the contingent fund ; and the directors
had appropriated the like sum of 32,4851 ss. to pay
a similar dividend for the half year ending the Ist Dec.
inst., making the dividend for the year 7 per cent.
allowing a further Sum of 1,065/, 12s. 4d. to be car-
ried to the credit of the contingent fund, and leaving
the reserve I fund still at 112,0001.
On the motion of the CLIAIRMAN, the report was
unanimously adopted, after which the dividend of 31
per cent. for the past half-year was declared, payable
on the 17th instant.
Thomas A. Gibbs, E. q., end General De la Motte,
were then re appointed auditors of the company.
Mr. KENNEDY, in moving that, the chairman (H..
G. Gordon, E: q.) and William Erskine, Esq., be re-
elected directors, took onasion to pass a warm sulo•
giddy upon the exertions of the first gentleman in the
service of the bank. remarking that the honourable
gentleman had worked for the hank more in the cha-
racter of an active partner in a large firm than as an
honorary director of a public company, while the
second gentiem:-.n had been no less serviceable in
managing the affairs of the bank in India.
Mr. 11. refaesieeer. btcondt.d the motion, which
W 39. put and carried unanitnous!y.
A resuintion, confirrniw the forfeiture of certain
shares, was then egreed to ; as also a resolution
reie3ding a former one increasing the capital of the
bank, which was now found to be unnecessary; after
which this busiries3 of the day terminated.
i`:!'.N.NEDY Itf•-•1 moved a vote of thanks to the
chairman aid directurs, obs,rving that they belonged
t) no " Mutual-present•each-ot.her-with-a-piece-of-
plae-soc!ety," v.,r•re the ceive managers of a
useful end I.,rcfitable in titution.
sded by Mr. MARSHALL, and

Tne motion was seen
carried by Exclamation.
Th© CLIAIRMIN briefly acknowledged the compli
ment, promising to use the same energy and z-al in
cnbducting the affairs of the bank that had already
won for him the good opinion of the proprietors, and
expressiug a confident hope that ere long the profits
of the concern would yield 10 per cent. per annum.

METROPOLITAN ASSOCIATION FOR IM-
PROVING THE DWELLINGS OF THE
INDUSTRIOUS CLASSES.
Yesterday a meeting of the shareholders and friends
of this association, to whose exertions the " dwellings
for families" in Pancras-road owe their origin, wrs
held at the Metropolitan Buildings, Albert-street,
Spicer-street, Spitalficlds, which form a pile of
erections, partly completed and partly still in course
of construction, intended to be let at moderate rents,
as im proved dwellings, to working men and their
families. The porden of the buildings which was
opened yesterday is ad :pted for the accommodation
of 234 single men, and includes every requisite
arrangement to enable them to live there with clean-
liness,
health, and comfort. The extent of this struc-
ture and the conveniences which it will enable the
working man to command will be easily comprehended '
from the following description :
The building is five stories in height from the
basement. The latter is surrounded by an open area
and contains baths and washhouses, with all the requi-
site appurtenances, extensive cellarage, and ample space
for workshops. Upon the ground floor the entrance-
hall is commanded by the superintendent's apartments,
which are placed on the left, while the store room and
cook's apartments occupy about the same space on the
right. Immediately in front of the entrance are the stair 3,
of fire proof construction, which lead to the three
stories of sleeping apartments ; and opposite the
stairs, on the ground floor, is a good sized lavatory
for day use. The coffee-room is directly in front of
the staircase ball, and extends to the back of the
building, communicating on one side with a reading-
room, and on the other with a kitchen for the use of
the inmates. It is a lofty room, divides: into aisles
by iron columns supporting an open roof of stained
timbers, lighted by a large window at the further
end, two smaller side windows, and sheets of rough
plate in the roof. Boxes are fitted with tables and
seats round three sides, and the room is warmed
by hot-water pipes. A cook's bar opens into the
coffee-room for the supply of coffee, &c. The
reading-room, size 60 feet by 21 feet 9 inches, is
warmed by open fires, and intended to be furnished
with some of the daily papers and popular periodicals.
The kitchen, 45 feet by 21 feet 9 inches, for the use
of the inmates, contains two ranges provided with
hot water, a sink with cold water, and common appa-
ratus for cooling purposes. From this kitchen a
stone staircase leads to al portion of the basement,
containing 234 small meat-safes, all under lock and
key, raised on brick piers, placed in ranges back to
back, with ample space for ventilation. The cook's
shop ie connected with the men's kitchen by a bar,
from which cooked provisions may be obtained at
almost any hour of the day. The water closets and
urinals are placed in the yard, and approached from
the inmates' kitchen by a covered passage. The three
upper stories are fitted with sleeping apartments on
each si.le of the corridors. Each compartment
measures 8 feet by 4 feet 6 inches, and is lighted by
half a window, the upper portion only opening, and
this is hung on centres. Thaw rooms are all fur-
nished with iron bedsteads and suitable bed furniture.
There is also in each a locker for linen and,
clothes, with a fal.e bottom for the admission of
fresh air ; se that the sleeping berths can be
ventilated at the pleasure of the lodgers. All the
doors are secured by spring latches, of which each
inmate has his own key, and no key will open the
lock of any other in the same wing. On each floor
are lavatories filled with cast-iron , enamel basins, set
in slate fittings, and also two water-closets for night
use. The partitions forming the sleeping compart-
ments are kept below the ceiling for the purpose of
ventilation, and the corridors have windows at each
end to insure a thorough draught when necessary.
With respect to ventilatione,the principal agent is a
shaft which rises nearly 100Teet, into which several
of the smoke flues are conveyekend by which means
a powerful upward current' is maintained. The
sleeping apartments and other principal rooms are
connected by vitiated air flues with the ventilating
shafts, and the current is regulated at pleasure by means
of dampers, placed under the control of the superinten-
dent. Water—Large cisterns in the roofs, and smaller
ones in other parts of the building, afford an ample supply
of water to every part of the premises. Dust—Every
fluor has an opening, secured by an iron door, into a
dust shaft, communicating with a dust cellar in the
basement. GAS—The whole building is well lighted
by gas. The water-closets have all a direct communi-
cation with the external air. This building has been
erected from the designs and under the superinten-
dence of Mr. W. Beck, 33, Broad-street-buildings,
and the builder is Mr. S. Grimsdell. The terms SS.
per week, payable in advaaca. Each inmate will have,
besides his sleeping apartment, the use of the coffee-
room, reading room, and the public kitchen, where
he may cook his own food, or he can obtain ready
cocked provisions from the cook's shop. Every
lodger is furnished with a small larder under his own
lock and key, has free access to the washcuse at cer-
tain times of the day, and can, by the payment of a
small sum, have a hot or cold bath. Adjoining to this
building, and within the same enclosed ground, an
extensive range of buildings for 60 families is now in
course of erection, of ,which particulsre will be fur-
nished when they are completed.
Previous to the commencement of the prcceedings
of the meeting the buildings were thrown open to the
inspection of the company, and the substantial and
convenient manner in which all the different portions
of the erection are constructed, and the arrangements
made for the comfort of the expected inmates, both in
the part appropriated to single men and that assigned
for families (the latter not being yet entirely finished),
appeared to give the grea:est satisfaction. The rent
of these_ lodgings must of course be moderate, or the
whole object of the institution would be frustrated,
and consequently the rent charged to a single man
will, Ashefore stated, be 3s. week ; and to a family,
for a dwelling in the building, consisting of three
rooms and a small li`chen, with water, water-closet,
cupboards, store-places, and every possible convenience
for a humble family, 53 61. a week, The Metropolitan
Company, from their-first efforts, decided on form-
ing themselves into a commercial company, under
the conviction that the industrious classes could and

would independently so afford to pay for improved
dwellings as should make it a profitable investment to
erect them. In the year 1845 a charter of incorpora-
tion was granted, enabling them to raise a capital of
100,0001., in 4,000 shares of 251. each, and they have
now enrolled among their shareholders the names of
many of the highest personages in the land. The
charter limits the liability of the shareholders to the
amount of the shares, and the rate of interest to five
per cent.
Shortly after two o'clock a large company, consist-
ing of ladies and gentlemen, having assembled in the
" coffee-room" contained in the neve building, the
Earl of Carlisle took the chair. Among the company
then present were—Viscount Ebrington, Sir Ralph
Howard, Bart., M.P., the Hon. D. Fortescue, the Rev.
Mr. Evans, Mr. W. A. Wilkinson, Mr. J. W. Tottie,
Mr. E. C. Tufnell, Mr. T. F. Gibson, the Rev. W.
Stone, Mr. C. A. Hanbury, Mr. R. L. Beck, Mr. J.
Toynbee, Dr. S. Smith, the Hon. F. Byng, Lady
Ann Tufnell, Miss Tufnell, Mr. H. Sullivan, Dr.
Gavin, Dr. Guy ; Mr. W. Beck, the architect, and
Mr. C. Gatliff, the secretary.
The CHAIRMAN said, that the shareholders of the
institution had already had a meeting for the tran-
saction of business ; but there were circumstances in
the present position of the institution, and, indeed, in
the general state of public affairs, which warranted
them in inviting together a largo number of their
friends and well-wishers on that occasion, and in
pressing the claims of the institution on its sup
porters at that time in a more marked and special
manner. They had had an opportunity of examining
the premises, and of forming their own judgment of
the means which had been adopted for securing the
comfort, convenience, and health of the working
man. He admitted that the best test of the successful
application of those means was to be learned by expe-
rience ; but their by-gone experience warranted them
ifs entertaining some confidence as to the result.
lie alluded to the model-house in Pancras- road, now
open for the'space of nearly two years, and the actual
practical result of that experiment was, that the
tenants expressed themselves fully sensible of the
efforts that had been made to improve their dwellings:
Their complaints were always listened to with atten-
tion, and wherever it was found practicable the causes
of them were removed. One gratifying circumstance
was the punctuality with which the tenants paid their
rents. Of 2,4181. due from them for rents, there was
only one bad debt of IL 19s. 7d., and the settlel
arrears at that moment from 110 occupants, were
only 71. 103. Working men were also fully sensible
of the superior accommodation enjoyed by them in
these institutions, as a proof of which he might
mention that out of 110 sets of apartments,
not more than two sets had been left vacant.
The superior health enjoyed by the inmates
was shown by the report of Dr. Southwood
Smith, in May last. During the prevalence
of the late epidemic, which had spreed so much
misery throughout the metropolis, not a single case
ef cholera had taken place in their lodgiog-house,
although in Paradise•place, near the m, it hat prevailed
to a formidable ot.ent. This consideration placed
the claims of such institutions on public support in a
striking light. The Bishop of London had suggested
that the collections a hick were made on occasion of
the late thanksgiving should be set apart for the
specific olject of extending the meld lodging-
hous: s of the poor, and the greater part of the contri
liutions obtained on that occasion had been given to
another society professing kindred objects with theirs,
but based on a different system—the Society for the
Improvement of the Condition of the Working
Classes. Ile by no means wished to place that
society in any kind of antngoaism to theirs, nor did
I.e grudge it the amount of the contributions it had
received, to which, as it was founded on purely
( heritable principles, it had, perhaps, stronger claims ;
but he must say, that the contributions made in the
churches en that day hardly seemed to have reached
an amount suitable to the occasion—(Hear)—and
to those who might think that some further exertions
and sacrifices might be gracefully made for the sake of
the poor, he would suggest that that institution
afforded a safe and permanent means of carrying their
charitable intentions into effect. As regarded their
financial affairs, it appeared to him that they ought
to allow a gradual growth to their profits; they had
every reason to hope that their dividend would amount
to 2i- or three per cent. when they had carried into
full development that building with the adjoining
lodging-houses, and they might calculate on an ulti-
mate dividend of 5 per cent. when they had attained
the contemplated limit of 4,000 shares, and 100,0001.
capital. This, he knew, was not a romantic view to
take of the question, but he felt assured that, at the
present day, benevolence would be most usefully
exerted when the calculations of prudence were
united with the impulses of generosity.— (Hear,
hear.) In conclusion, the Noble Earl begged to
commend the prosperity of the institution to the en-
lightened bounty of his audience.
The chair was then taken by Viscount Ebrington,
the Earl of Carlisle being obliged by an engagement
to leave the meeting.
Sir R. HOWARD congratulated the society on the
amount of success they had already obtained, and
stated that the directors hoped in a short time to pay
a dividend of five per cent.
The Rev. J. HARRIS expressed his satisfaction and
thankfulness to the directors for haying established
such an institution in his parish. He had no doubt
that their most sanguine hopes would be crowned
with success, and, as far as his influence extended,
he would lend his instrumentality to forward their
objects.—(Cheers.)
The CHAIRMAN expressed his belief that it was
impossible for the Government or Parliament to
afford much assistance to this object, which must
depend mainly for its success on the employment of
private capital and exertion.
Dr. SOUTHWOOD SMITH thought that their efforts
should be principally directed, not so much to build-
ing lodging-houses for single men, as to the improve-
ment of the dwellings of families.
Mr. S. I3owner, of Gloucester, explained the
objects of a society formed in that city for improving
the dwellings of the poor, and securing to the tenants
the freeholds of their cottages after a period of fourteen
ears.
The meeting then separated.