The Sun.
London, England, 1849-04-13 00:00:00

Average Ancient. ROYAL MAIL STEAM-PACKET
Pease 3 Old Bank, Hull, the Hull Old Bank and COMPANY.
Beverley Bank, Hull-Pease and Co
Penzance Bank, Penzance-Batten and C •-0... . 409,228740 unaptly was heel at the London Tavaiu, LIIS flO
ig
?Eaerborough Bank and Ouudle Ban`.: Peter- The annual eeneral meeting ef the
r:11:e
ee street, yesterday, for the purpose of receiving t. e dircc-
borough-Mes-rs. Yorke
Peterborough Bank, Peterborough-Simpson,
White, and Simpson 4,415 ending 31st December last, and of electing two directors
in the place of John Irving, Esq., and Charles William
Peznorokeshire Bank, Haverfordwest-J. and Short, Esq., and one auditor in the place of Abraham
W. Walters
Penzance Union Bank, Falmouth Bank, and being eligible, offered themselves for re-election.
Truro Bank. Penzance-Rickets, Enthoven The meeting was called for one o'clock, and precisely
and Co - at that hour Andrew Colville, Esq., took the chair.
Reading Bank, Reading-Simonas and Co 27,195 Mr. E. CHAPPELL, the secretary, then read the adver-
Reading Bank, Reading-Stephens,Blandy, and tisement convening the meeting, and the following
Co 26,135 report of the directors for the year ending 31st Dscem-
' Richmond Bank, Richmond-Stapleton and Co 5,180 bar last :-
Ringwood and Poole Bank, and Town and " The audited accounts of the Royal Mail Steam
1 County of Poole Bank, Ringwood- Ledgard Packet Company for the year 1848 have been printed
! . and Sons
Rochdale Bank, Rochdale-Clement, Royds lull information that but little is left to be explained in a
and Co 4,986 report.
Rochester, Chatham, and Strood Bank .Roches- " Some few remarks, however, may be expected; and
ter-Day and Nich0150n.......
Royston Bank, Royston-Fordham and Sons 13,120 working accoun-, it may be necessary to state, that under
Rugby Bank, Rugby-Butlin and Son 14,283 the head of coal is presented a saving of 3,1841. ss. 5d.,
Rye Bank, Rye-Curteis, Pomfret, and Co 11,660 arising chiefly from reduced rates of freight, and in some
Reigate and Darking Bank, and Reigate, Croy- degree also from farther saving in the consumption.
don, and Darking Bank, Reigate-Nash and " The charge for wages is greater in 1841, by
Co .
Ross (old Bank, Herefordshire, Ross-Pritchard harbour pay for the' Tay,' Clyde,' and ' Great Western,'
and Allaway 3,987 when undergoing general repair. There were also three
Saffron Walden and North Essex Bank, Saffron intercolonial steamers employed during the whole of
Walden-Messrs. Gibson
Salop Bank, Shrewsbury-Burton, Lloyd, and vious year.
Co 12,193 "In provisio' a stores, port charges and pilotage, the
Scarborough Old Bank, Scarborough-Woodall difference is so trifling as scarcely to require notice; but
and Co
Shrewsbury Old Bank, and Shrewsbury and gregate, than in the former year, to the extent of
Ludlow Bank, Shrewsbury-Rocke, Eytons,
.
Miiton Bank, Sittingbourne 121/. Bs. ld.
and Co
30,043 " Under the item general service and stations, there is
Sittinc'bourne and
an increase of 2,356/. 19s. 11d., arising from the hire of
-Valiance and Son
2,130 a steam tender at Ship Island, together with the neces-
Southampton Town and County Bank, South- sary expenses of the Colonial Superintendent, in per-
ampton-Maddison and Son
Southwell Bank, Southwell-Wylde and Co 13,097 communications.
St. Alban's Bank. St. Alban's-J. S. Story - " The office and law expenses, salaries and repairs,
Salisbury Bank, Salisbury-Messrs. Brodie - taken together, show a diminished expenditure amount-
Shaftesbury Bank, Shaftesbury-Brodie and ing to 1,329/. Os. 4d.
~
King - " Referring to the credit side of this account, it is
Southampton and Hampshire Bank, Southamp- satisfactory to observe, that while the expenditure has
ton-Atherly and Fall . 3,670 been only 1591. 12s. sd. above that of the previous year,
Stone Bank, Stone-W. Moore 3,007 the receipts have been augmented to the amount of
Stoarbridge Bane, Stourbridge -Rufford, 7,450/. 4s. 7d. This is more gratifying, when viewed in
Wragg, and Co
Stafford Old Bank, Stafford-Stevenson and Co 13,438 sioned by the depressed condition of the West India
Stamford and Rutland Bank, Stamford-Eaton, colonies, which has consequently been more than corn-
Cayley, and Co. .
Stourbridge Old Bank, Stourbridge-Bate and "Of the balance remaining at the credit of the profit
Robins - and loss account for 1847, 27,6721. I Is. 3d. has been
Shrewsbury and Welshpool Bank, Shrewsbury carried to the credit of the general reserve fund, making
-Beck, Downward, and Co.
St. Alban's and Herts Bank, St. Alban's-Gib- 98,292/. 7s. 9d. This is exclusive of the insurance fund,
son and Stuart - amounting, on the 31st December last, to 70,6671.10 x. 6d.;
Taunton Bank, Taunton-Messrs. Badcock 18,637 and since the date of those accounts a further sum of
Tavistock Bank, Tavistock-Gill, Rundle and 25,0001. has been invested in the purchase of 28,0111. 4s.
,
Co
8,495 Three per Cent. Consols, applicable to the insurance
fund of the current year.
Thornbary Bank, Thornbury-Rol ph, Yates, and
6,484 " There has been a heavy outlay in 1848, amounting to
Parslow
24,516/. 165. 4d., for thoroughly repairing the foul. ships
Tiverton and Devonshire Bank, Tiverton-Duns-
-7,3e1 specified in the profit and loss account; but, after pay-
ford and Barre
, meat of this and all other charges, there remains a
Thra.pston and Kettering Bank, Northampton-
. 8,455 balance of 55,692/ 17s. sd. on this account in favour of
shire, Thrapston-Yorke and Eland
Tring Bank and Chesham Bank, Tring-But- the company. -- :
cher and Son
Towcester Old Bank, Towcester-J. and S pany has experienced the loss of the steam-ship Forth,
Percival
Union Bank, Cornwall, Helston-Vivian and tion held at Southampton, as to the causes which coca-
Co 6,381 stoned this loss, have been very generally published in
Uxbridge Old Bank, Uxbridge-Hull, Smith, the newspapers, but any proprietor, _desirous of more
and Co.
Wallingford Bank, Wallingford-Wells and Co 6,075 by consulting the short hand writer's a port of the whole
Warwick and Warwickshire Bank, Warwick- proceedings, which is deposited at the company's office
Kelyn,ge, Greenway, and Co. 22,483 for this purpose.
Wellington Somerset Bank, Wellington-Fox. " The directors have to announce that they have se-
Brothers'
West Riding Bank, Wakefield, and Pontefract and the Rio de la Plata; the arrangements for which,
Bank, Wakefield-Leatham, Tew, and Co.
Whitby Old Bank, Whitby-Simpson, Chap- must, therefore, rely upon the proprietor.' confidence in
man, and Co 11,681 their management, whilst they deer for tee present any
Winchester, Alresford, and Alton Bank, Win- explanation as to the details of pending negotiations;
chester-Bulpett and Co.
Winchester and Hampshire Bank, Winchester on the shares is anticipated, either for the purpose of
-Wickham and Co 3,518 completing the Brazil Service or for the replacement of
Weymouth Old Bank and Dorchester Bank, the ship Forth.
Weymouth-Elliott and Pearse
Wirkesworth and Ashbourne Derbyshire Bank, the company, the directors feel considerable satisfac-
Wirkesworth-Arkwright and Co.
Lion that they can recommend the declaration of a dive
Wisbech and Lincolnshire Bank, Wisbech-. 28,384
Bend for the last six months of the year 1848, at the rate
Gurney and Co.
,
Wiveliscombe Bank, Wiveliscombe-P. and W the 17th instant."
Hancock
Hancock 5,008
sary for him to make any observations on th© document
Wolverhampton Bank, Wolverhampton-Good-
which had just been read, and he should merely move
ricke and Holyoake.
that the report be adopted by the meeting, and printed
Worcester Bank, Worcester-Farley, Lavender, for circulation among the proprietors in the usual man-
and Co. 8,750 nor. If any gentleman had any observation to make
Worcester Old Bank and Tewkesbury Old Bank,
upon the report before its adoption was put to the meet-
Worcester-Berwick, Lechmere, and Co 699 e '93 ing, then was the proper time for their being made and
meet-
Worcestershire Bank, Kidderminster-Farley „ entertained.
and Turner
Walsall Old Bank, Walsall-CharlesFoster and Mr. RIDOWA.Y said he had gone minutely into the
Sons
Warminster and Wiltshire Bank, Warminster- statement' which with the permission of the chair he
Everett and Co.
Wolverhampton Bank, Wolverhampton-- be satisfied with the dividend proposed to be given to
Messrs. Fryer
Yarmouth and Suffolk Bank, and Halesworth that they ought to have a fair remuneration
and Suffolk Bank, Yarmouth-Gurney, for the services which they had performed;
Birkbeck, and Co.
Yarmouth, Norfolk, and Suffolk Bank, Great olden time, and who had borne " the heat and burden
Yarmouth-Sir E. K. Lacon, Bart., and Co 11,587 of the day," ought to have something for what they had
Yeovil Old Bank, Yeovil-E. and J. Batten
York Bank. York-Swann. Clough. and Co 40,283 compensation, and although he could not say he was the
wisest man on the earth-(lronical cries of " Hear")-
he felt assured he would receive from the directors and
the meeting generally on the present occasion that con-
sideration which he was entitled to. It appeared to him
that, by comparing the annual statement of account of
the company with those of the last four years, the
increase from freight in the working account of 1848
over the year 1845 was 18,4381. 13s. 7d. The great
increase had been in the homeward freight, which
alone showed as increase of 13,2231. 14s. 4d.
when compared with 1845. Something had been
said in the report about the depression of the
West Indies; but that was no justification why they
should not have something to encourage them to go on,
or why they should not put a little money into their
pockets instead of having it locked up as it was at pre-
:elle Let the directors now restore confidence by dis-
tributing the money that had been so unprofitably
locked up. Again, the income of 1848 for passage
money showed a decrease of 1,921/. 11x. 3d., as com-
pared with 1846, and a decrease of 4,363/. 15s. 7d., as
compared with 1847; but when compared with 1845,
there is an increase of 15,5541. 17s. 4d. , Did not that
show that better times were coming, and that it was
only by confidence in their superiors that they could
hope to maintain their standing? On the disbursement
side of the account he found that, compared with
1845, tho wages had increased 8192/. 73. Bd. ; and
general service and stations, 5,802/. 45.; the salaries,
e,279/ 12s. Bd., and repsiss of vessels 2,9231. 4s. Bd. 1 he
meeting- would see that they had borne an extraordinary
degree of expenditure during all the past four years.
Better times were coming, and let the future trust to
' the future. With respect to the increase_ of 5,8021. 4s.
statedon t the
igeneral
reportservice
something and
stations,
about a changethe chairm
having
aavihtgaid
taken place. He (Mr. Ridgway) thought that since they
held their meetings there was nothing but change.-
(No, no.) He did not say that as a matter of com-
plaint; it had perhaps been done with the best intentions
on the part of the directors.-(Hear, hear.) He be-
lieved it had been so. He believed from the respectable
body that he saw before him that it was not their desire
to screen the truth ; at the same time there
were many proprietors absent who knew little or
nething of the affairs of this concern. Again, the salaries
of the London and Southampton establishments had been I
augmented to 2,279/. 12s. Bd.
Mr. CHAPPELL, the secretary (interrupting)-No, no;
not on the last year.
Mr. RIDGWAY said yes; and he would tell them that
those salaries had been augmented within the last four
years. At the same time that a reduction of expenditure
was insisted on in the West Indies, why should not the
proprietors insist on a reduction in their expenditure in
England? lie knew not any justification of that very
large augmentation of the salaries in London and
Southampton during that period. Then, on comparison
of the general expenditure of 1848 with that of 1845,
there had been an increase of 26,232/. ss. lOd.; while on
comparing the surplus over expenditure for the same
years, the increase was only 7,7601. ss. Id. Now, he did
not know what increase of duty the steamers had to un-
dergo by the change in the route, but at the same time
he had no doubt the directors could explain the great in-
crease of 26,000/. on the expenditure when the increased
income was only 7,070/. P seemed to him extraordinary
that that should be so. Then, the balance-sheet showed
a surplus profit for 1848 of 55,6921. 17s. sd. applicable
to the dividend, which, if made at the same rate as de-
clared in April last, would amount to 29,680/., and leave
a surplus of 26,012/. 17s. 5d., out of which a bonus of
20s. per share might be given, and still leave
11,172/. 17s. sd. to be added to the reserve
fund, which was stated to be, on insurance
account, 70,6671. 10s. 6d., and the general
reserve fund, 98,292/. 7s. 9d., to which, adding the sur-
plus above mentioned, after providing for the dividend
and bonus, the amount of the total reserve fund
would be 180.1321. 15s. Bd. The surplus was proposed 1
to be added to their already very large general reserved
fund. It was to be remem'oered that during the
four years they had paid a sum equal to
100,0001 to the insurance fund, viz. 25,0001
a year. Now, he asked whether, that being the
favourable position of the company, after bearing all the
losses and casualties which they had sustained, they
ought not to have an addition to their dividend as pro-
posed by the directors, and therefore he would propose
that the sum of 30s. per share be added to the dividend
now proposed by the directors.
The proposition found no seconder in the meeting.
The CHAIRMAN said, that there being no seconder to
not think it would bo necessary for him to r
ures.
objections and fig
the amendment of the Honourable Proprietor, he did
into any explanation of his l
nt
ebe
Every gentleman present must know that it was not wag
before the contract of the company with the Government
would terminate, and every gentleman must also
aware that the ships would not produce as much as they
cost. It was absolutely necessary, therefore, for
the company to keep in their hands a sufficient
amount of funds to meet any incidental ex-
penses that might arise. He had no doubt
that every shareholder would wish to receive a higher
dividend, but he thought that the dividend proposed- was
as high as ought to be given consistently with the state

vv, !ors of th,

JOINT-STOCK BANKS.
Bank of Westmoreland, Kendal
Barnsley Banking Company, Barnsley
Bradford Banking Company, Bradford
Bilston District Banking Company, Wolver-
hampton
Bank of Whitehaven, Whitehaven
Bradford Commercial Banking Company, Brad-
ford ..
Burton, Uttwixeter, and Staffordshire Union
Banking Company, Burton-upon-Trent
Chesterfield and North Derbyshire Banking
Company, Chesterfield
Cumberland Union Banking Company, Work-

9,678
5,174
45,402

10,032
7,199

16,165

54,378

10,006

ington . .
Cheltenham and Gloucestershire Banking Com-
pany, Cheltenham
Coventry-and Warwickshire Banking Company
Coventry
Coventry Union Banking Company, Coventry
County of Gloucester Banking Company, Chel-

27,380

9,095

21.933
12,199

93,792

tenham
Carlisle and Cumberland Banking Company
Carlisle
Carlisle City and District Bank, Carlisle 18,946
Dudley and West Bromwich Banking Company,
Dudley
Derby and DerbYshire Banking Company, Derby 18,698
'Darlington District Joint-Stock Banking Com-
pany, Darlington 14.958
East of England Bank, Norwich
Gloucestershire Banking Company, Gloucester. 128,174
Halifax Joint-Stock Bank, Halifax 14,756
Huddersfield Banking Company, Huddersfield 36,259
Hull Banking Company, Hull 25,297
Halifax Commercial Banking Company, Ha-

lifax
Halifax and Huddersfield Union Banking Com-
pany, Halifax 31,555
Helston Banking Company, Helston 1,453
Herefordshire Banking Company, Hereford 16,433
Knaresborough and Claro Banking Company,
Knaresborough 20,195
Kingsbridge Joint-Stock Bank, Kinp;sbridge 2,988
Lancaster Banking Company, Lancaster 58,670
Leeds Banking Company, Leeds
Leicestershire Banking Company, Leicester
Lincoln and Lindsey Banking Company, Lincoln 43,404
Leamington Priors and Warwickshire Banking
Company, Leamington Priors
Ludlow and Tenbury Bank, Ludlow 9,227
Moore and Robinson's Nottinghamshire Bank-
ing Company, Nottingham
Nottingham and Nottinghamshire Banking
Company, Nottingham.
Newcastle, Shields. and Sunderland Union Joint-
Stock Banking Company, Newcastle
National Provincial Bank of England, Birming-
ham, Head-office, 112, Bishopsgate-street,
London 337,497
North Wilts Banking Company, Melksham 44,053
Northamptonshire Union Bank, Northampton 62,248
Northamptonshire Banking Company, North-

9,538

26,718

24,616

1,851

arnpton
North and South Walos Bank, Liverpool
Pares's Leicestirshire Banking Company, Lei-

16,684
19,646

' cester
Saddleworth Banking Company, Saddleworth... 1,673
Sheffield Banking Company, Sheffield 33.448
Stamford, Spalding, and Boston Banking Corn- -
pany, Stamibrd
Stuckey's Banking Company, Bristol Somerset-
shire Bank, and Somersetshire Bank, Lang-
port
Shropshire Banking Company, Shiffnall ...
.Stourbridge and Kidderminster Banking Com
pany, Stourbridge
Sheffield and Hallamshire Banking Company,

16,838

Sheffield .... .... ......
Sheffield and Rotherham Join t-Stock Banking
Company, Sh.ditild ....• 51,156
Swaledaleimveßichmond,l aa r.l. .7. 7. 1.7 leyd a l e Banking Company,
Storey and Thomas's Banking Company
w Shaftesburyerhaaßetferd Bank, Sheffield
pton athiStaffordsh ire Banking Com-
pany, Wolverhkrnpt
7
32,073
Wakefield and Bar' -ile°yn Union Bank, Wakefield 11,077
waWrwhiiteekhaavnedn
Le.,:k
Whitehaven Jointu.-'
•••••• •• • ...
Warwick ....... .. .. .'
.
West of Englan.--' a. 1.4 Banking Company,
0.; ..........
k..iiig..e. ... .. .... . 21,319
...... mpany,
. 50ut.h...."..------ 31,837
a. 14. District
Wißltasnakr;i3drgob3rslet ............... Compn::: ..
!al::
266792,,207445280
West Riding Union Banking ConiP'",2,37, Hu&
dersfield
'Whitchnrch and Ellesmere Banking c ompany,
Whitchnrch _ ........ 3 437
Worcester City and County Banking Company, '
Worcester... . . , 4,049
York Union Banking Company, York.
Yor City and County Banking Comps ny, York 75,545
Yorkshire Banking Company, Leeds
P. DEANS, Registrar of ,auk Returns.
Inland Revenue, Somerset House, April 7, 1849.

8,755