The Sun.
London, England, 1836-03-17 00:00:00

BANK MEETING.-(T

A Meeting of the Proprietors of Bank Stock was held thig;
morning in the Bank. At twelve o'clock John Pattison, ESQ.,'
the Governor, the Deputy Governor, and most the Directors_
entered the Court. After the minutes of the last Court had
been read and confirmed.
The GOVERNOR said he had to inform the Court that it was
one of the Half-yearly General Courts, appointed to be held
by the Charter; for the purpose of considering of a dividend.
It was also his duty to state, that the Court of Directors hav-
ing considered the state of the profits for the half year ending
sth April, had determined to recommend that a dividend 01
4 per cent. should be declared, if approved of by the Court.
Mr. SELWYN said, before the motion was put he wished to..
ask the Governor a few questions. First, he wished to know
what was the amount of the interest on the 11th of March last?
The GOVERNOR said they always made up their accounts-to
the sth April ; on that day it would be 2,734,5421.
Mr. SELWYN said that was very good. On looking througY
the Bank account, he found that a great source of their profit
arose from the management of the public revenue. Had any
part of the proceeds of the public burdens been withdrawn
since the last meeting ?
The GOVERNOR--None. But in consequence of new regu-
lations at the Exchequer of a new Exchequer Bill, in fact, the
public balances were m terially reduced. It was working ver
advantageously for the public, but, of course, the Bank suffered a
littlefrom it,
YN
Mr. Sfr
ELW—Then, am I to understand that no portion of
the public revenue which used to be paid into the Bank,• leas
been withdrawn ?
The GOVERNOR—Certainly. None whatever.
Mr. SELWYN had put the question, because he had seen it
stated-in the public press that the Excise department was Pay-
ing large sums of money into the London and Westminster
Bank.
The GOVERNOR—The Excise was collected and pa',,d
into the hands of private persons, into whose banns..
it was allowed to lay for a certain time. He understood, but
only from the same source, that some portion of the
so collected had been paid in to the Westmin'Ster Bank. He
did not know it officially, and could not vouch for it.
Mr. SELWYN—Has any correspondence been entered int°,
between the Directors and the Government upon this subje.l
The GOVERNOR said a communication had been made to
The
Government. The Directors being of opinion the Bank svt•
the best and safest mode of remitting and managing, that
would be a saving to the State, and that they, bing a State.
Bank, ought to be entrusted with it. There had beefn manf
communications upon the subject, but the Directors, eliug
strongly the importance of the point, had thought it better that
an official letter should be written, offering that the Bank should
continue to be the means of receiving and remitting the revenue. •
Mr. SELwyN.—Was that letter written in consequence of
any private person paying the public revenue elsewhere ?
The GOVERNOR.—No : there are none.
Mr. SELWYN.—Are we to understand that no person Nvho
used to pay public money into this establishment' has gone
elsewhere?
The GOVERNOR.—Certainly. Mr. Ward, our late
tor, did receive a portion of the produce of the excise, Which
I believe he paid into the Westminster Bank.
Mr. SELWYN.—My question, Sir, is, whether Mr. Ward,ose
°I.
any other person, kept an account here with respect to th
duties? Direc-
The GOVERNOR.—NO, never.
Mr. SELWYN was anxious to state that these questions had
not been concerted. -He stated so much, because be had seen
in the Age, after the last meeting a paragraph, in which arnonf,
other things it was stated that " there had been a cross •
at the Bank between Pattison and his, double—(Laughter,
Mr. S. being a very slim gentleman. He begged leave,
most solemnly to assure the meeting that he had never Tea;
the worthy Governor till be had met him in that room befog
'
them all ; and that before the last meeting he scarcely W
even his person,. and he was sure that that worthy gentleman
would bear out his assertion that there had been no conenuni--
cation between them. The paragraph went on to state thaV
the Directors were gulling the Proprietors by dividing their
own principal money among them as dividends. He believed
of the last dividend a portion came out of the rest,: but that
was the profits of, former years, and had nothing to do with
the capital stock of the Company. He wished to ask
W"''
ther the dividends now to be paid interfered in any way
the rest. Would they touch any portion of the rest?
The GOVERNOR—No ; none whatever.
Mr. SELWYN was glad to hear that, and he, for one, would
most cheerfully support the motion for the dividend.
Mr. YOUNG was sorry to say that the proprietors were nc'tf
in a condition to consider the matter. They had no means a
knowing whether it were proper that the dividend should ba
4 per cent., or whether there should be any at all. He wry
sure that it would be extremely satisfactory to the proprieto
to have a statement of the affairs of the Bank laid before thern;
and he was sure that it would be most gratifying to the public.
In every other country—in every other establishment--a gene-
ral balance-sheet was prepared, and laid before those interested.
He was quite sure the Directors conducted their affairs in the
most safe and praiseworthy manner, and there could be 11°
question that such a statement would redound much to their
honour. He begged that they would allow him to touch allf
one other subject. It was impossible for them to shut their'
eyes or their ears, to the great spirit of enterprize now abroad.
he, for one, would be most sorry to throw the slightest darnP
on many of the schemes now in progress, for they In"ters;
beneficial by giving employment to thousands of poor labbur
—that would be a great good in itself—but he could- not shut.
in
his eyes to the great lesson which had been read to thern
1825. He had warned the Court of that calamity in 1823, an
he would now most earnestly press upon them not to put out
their capital to the assistance of any of these enterprireei
The Bank had lately acted on a good principle.
on that principle being observed, ,so that the Bankffeini
far as possible serve to contract the rage for speculation 110.0
abroad, The capital of the Company should always be Lie
such a state that it could at once be turned into money. ka
trusted that the Court of Directors would insist that all San
of issue should be obliged to publish the amount of their .
bilities and assets. The Bank had a right to insist on ti.
for it was a part of their new charter, so for as the promise
"""
the Chancellor could go. ings
hi stt etis
Mr. WILLIAMSON conceived that a balance sheet ought tif
be produced at the next meeting ; if not, he would endeavou.
to make out one, founded on the statements laid before l'ebara;
liament in 1832. The Hon. Proprietor then inquired, the
there had yet been a settlement between the Bank and
Government relative to the loan of 1794; and whether the
rears ha
GOyd et been paid ? Settled
The VERNOR said the question had been agreeably se-
t
about two months ago, and no arrears were due. 13itA
A PROPRIETOR inquired whether the buildings of the -
were included in the rest ?
The GOVERNOR said 90,0001. were included for the Prc''
perty around the Bank.
Mr. FIELDER—The question before them was whether tirerec
should be a dividend or not. He deprecated any balance-sheti
being made out, as it laid their affairs open to their enemies, ";
whom they had many. He did not think it was fair of Pro%
prietors coming down, without notice, and putting.iinll tv
questions to the Governor. It was often very detriment io
their interests, where there appeared to be any hesitationw
giving an answer. He trusted that Proprietors would gi a
notice of their intention, or that the Governor would wake
practice of refusing to answer.
The GOVERNOII had thought the subject of accounts, bad
been settled ; he had thought the majority of the proprietLa
were against the plan, and therefore they were not prelni.
with any balance sheet ; but he was most anxious arg11:1;;e,
to answer any question which was put to him at any He
The question most likely to be put was as to the interest. ior,
was happy to say that it was increased after PO to
the dividend, and even though they had' been oblige bad
write off 15,000/. from the amount at which they bad
formerly taken the forgeries of Fauntleroy, the interest the
been increased 25,000/.—( Cheers.) With respect to
they
Joint Stock Banks, the Directors would not interfere ; 11au
had enough to do to manage the affairs of the Bank as !figs,
they could. They were most cautious in other par:tell:oj;
and would continue to be so, so that no harm could conae tw
Bank. The eyes of the public were upon them,
called upon to publish their accounts, therefore it was of
first duty to do all in their power for the safetlub-
the Bank. The Joint Stock Banks were now obliged to Pto
lisp the amount of their issues—it was for the Legislature
oblige them to do more. h 110
'
A PROPRIETOR inquired whether the 10,000/. w" 'e
taken from the interest for the last dividend had been, re
reed in
leaving a surplus of 25,0001., or was the 10,000/.
that sum ? des
GOVERNOR said the interest, on the 10th Octobers
2,709,215/. ; on the sth April it would be 2,734,5401- ,
The question was then put, and agreed to unanimousii4ots
The GOVERNOR informed the Proprietors that the
would be ready for delivery and payment on the 6th APE
The meeting then separated.
On

BRUSSELS PAPERS.
nd
BRUSSELS, MARCII 13.—The Chamber of Commerceero
Manufactures of Brussels has received from the Micistin'
the Interior very important documents relative to our c
merce with Algiers. on
The Journal d'Anvers makes the following observatie%
the exemption of the Jeune Caroline from increased der: of
England, of which we havelbefore spoken :—" The cent' 7°
the Trinity House, imposing an addition of 25 per cell ffith
the pilotage of Belgian ships in England was dated the caw
of February, and therefore could not apply to the JeaneG
`.00le•
line, which sailed on the 24th of the same month from
.„ the
The inference which a Journal of this City draws therefore
non-payment of the additional duty by this vessel is
ill-founded.
c the
The Chamber of Re r entatives continued Yest6.rui,:seire-
discussion of the Budge: ofs the Minister of the !aerie nog-
ral articles of which were adopted without o
sels Papers, March 14. P

• ueS °
—.„
ABEL, THE FORGER.—This man still contin .rv.
large, and it is probable that he is now out of the nefarious
The 'oinions that others were concerned in his 1800
transactions appears to be well founded, two men One 9 trials
his nephew) being now in Hereford gaol, awaiting their od
for. forgery at the next Assizes, which commence en the
instant. Club'
The
Committee of the Middlesex
sit •
rations at the Salopian, have published their circular ol
they
lees ; they have, they say, through the exertions ei votes
agents in the Registration Courts, expunged 300 TorY ;0
and claims from the lists, and defeated 1,000 Tory elle thef
to Reformers, whose claims they thereby establishee ;rvies
add, that " the sum at thein disposal for professional secoor
was very limited, and much more might have been A
Refoon _ 0 0..
plished had ampler means been supplied."