The Sun.
London, England, 1847-06-15 00:00:00

BANK OF s T.RA
_ST
The thirtee'eth annual me,timr, th.e-propsietont was
held yesterday morning, al. their -ptemises, in A.n:-.,tin
Friars, Oliver Farier. Esq., in the cliair.‹ ... • - --
After the advertisement- convening the meeting,
been read, Mr.-Milliken, the secretary, wts culled
tor the rep.rt which the director: ha,t d-cis'e.l upon st,b-

witting ,o tht tnee!ire-. whi:-fl 1: ~.a folloivc --- . . ,
"T. , E THIRTEEN I II ANNUAL REPORT Rl'. THE
I.).:REC I'OIIS ~ i:- THF, 14 ,Nii ()F At-. II A:-
LASIA, TO VI E riiOPRIETI )ItS, A.4r,ENI•tI.EI.)
AT THE '-:EETINt4 E 1,1) AT THEIR OFFIE.
No. 8, AUSTIN FidAltS, I t •iON,;AY, .11.:NE
14 1847.
"1. The diree-ror.., in na.,k;riv rho. Oen- tlii-te.;.:l: re.
port to tl:e prprietori -.built. ii, u ual, a state/110 ,1
the affairs of th. ..1,1( _iliA.... t;zoir Iwo, :.n, nal me't''
s
"2. During tn., past year the 'rud.• or the eolont
h.t... ill rov:d ; and b:. ..xterided t -ansactions, ;hat por•
tin" "f the capital of the 1-I.idt wh,eli tenet areumulatrd in
U. 113 -4 i'-'et'il' IV ''.t ill br.iliVil I !lit, ;wily, , pi ratiiifi.
" 3. On th• -they. riu, ~.. ,•,,,-;if;,:rlcil!l,,, il ioterists have
suffered fs 11111 th, 1;:w p:1, • a Waite if for the r,o-1- of
the las.; 5,,a.,.en, ~..rd ov a gr.. at .l. hci net of 1,1) .urere.
Ihe titer has h.• n to. it. •e v-r. 1% felt t.y stiwkr,olders
and settlers. an.t has made :heir properties .....inptits,
tively tinpro.luciive ,:,I'.e :it the s,foe time i., ha- rvlg.
dered those held b‘ the 1-strik d.flicult or realisation the
.
e°4. The altered ci, cumsta,.ces of the Bank, and
suspension of divid, nos, rerder..l it, in ,her o inion.)
p
the directors, itn:.)eranve to dim o ti u.• the operation
thy R tiring Fano. ~ tic-•d io th i, re..p..r; ot 1842. an
the amoont that 114,1 avian-Dula , ,I, h.., for tbr pie.
sent been placed to real t f of tn.• B:1 D• In Fund ; but
the re-esta.,ll ronent o, the .t.u,d :net heroine wittier
~I consider-Ilion tierea•ter, 5n.,,, al the interest:, of
the
Bank arm+ ar to require it.
" 5. The directors have hitherto refrained from giv-
ing in their reports any estimates of
thenlosses
.n
doubtful debts. until further p: ogress had made
and
the realisation of i.,5,.1..ent and bankrupt estat.ev,
until the imperintendent and inanai.ers had
h
..n-
-abled to make more correct calculations. This having
now in some measure been accomplished, the directors
think the time has arrived when the auaount of such
losses should be stated.
" 6. With these preliminary observations, the direc-
tors proceed to give the following statement:—
" 7. On reference to the lase reoort,
that there remained on the 13th of October, 1645' a:
unappropriated balance (hut. which the proprietors we,)
informed would in all probability be rbt'd hY It'sse
abs„. 7
of
for the year ending the 12th of October,
1846, To this are now to be added the nett
1846, after defraying all expenses ot'
profits in the colonies and in London, ill be observed.
management
,--------:
Making £155,893 1 10
Deduct the half-year's di-
vidend in Apri1.1846....£13,500 0 0
And the whole of the ex-
i 1
penses incurred in the
suit against the Bank of
Australia,from • t.'
t s
8 co4rn6-,
• -
mencement up to the
12th of
October,
.
(a considerable portion -.
of which it is expected
may ultimately be reco-
vered)
21,752 1 -
_.-...--

8 9
Leavin £134,140
The total amount of losses ascertained
and
dd
managersestimated bebyintghe superintendent 142,265 1 9
It follows that a balance remains to be
124 1
provided for out of the profit of the 3 0
£B,
current year of amount
"8. The above statement shows the estimated "nd 0t
of loss, according to the opinion of the sunerinteui ebe
and managers, the entire accuracy of which can en Yro.
finally ascertained when the various and extensive P
perties, held by the Bank, in security or satisfactiont to
of
debts, are realised. The directors consider the g
orefatnheil;
care and caution in the gradual accomplishment
object as most essential, being, in their opinion, tb°,°,l,.
means of preventing further losses upon some 01
old accounts, of which they cannot but feel app Hart
"9. The numerous and diversified duties of Mr.
the superintendent, in the general control of the busin.etl:
and in the management of the several properties held
in
the Bank, notwithstanding hi: acknowledged zeal, Le
dustry, and talents, render it impossible for him to
that minute and constant attention to these Yuri Of
matters which their nature and magnitude dertnat l'l:
Under this conviction, the directors came to the esel.
ton of sending a person to the colonies, to aid and con
eel Mr. Hart in the performance of those duties; an
alit
was with much satisfaction that they found aLa
late colleague, Mr. Atherton, willing to undertake tol%
portant a mission, from which they anticipate the we%
eat
beneficial results; and they await his report witu 5r 0.
interest. Mr. Atherton's duty will be to advise an c
operate with Mr. Hart, but without executive power.
" 10. The directors are convinced, from their exrdi
rience of Mr. Atherton's talents and general habits c'd
business, his intimate acquaintance with the affairs en
position of the Bank, as well as his legal knowleclC “
and his perfect agreement with them, as to the cour'"er
to be pursued, that they could not have selected a fi
person for the office. tbeit
given in tb•
pr obtaining to
oceed
t 4
ce les
report,selad.
rlywnidtahoctchetuoehmredde
appeal
directors
ceetafowrlroisamt theghasilostny s
Sydney,
nnassurancesotehye,
time
in
Btoan
and they have now to inform the proprietors, tbatAt
enable tuhset:lll;
cause has been set down for hearin before the J*-
cial Committee of the Privy Council. g
" 12. The directors conclude with the usual°ltateuient
of the Assets and Liabilities of the Bank.

-- - ..
... ---ASSETS. 7 $
Government Stock, Specie, and Cash £430,027 g
Landed Property and Bank Premises 23,056 ".3: 9
Bills Receivable, and other Securities 1,309,544 11
Balance (to be provided for out of the 0
8,124 13
profits of the current year)
—_-----1
£1,770,752 18

Capital
Circulation

LIABILITIES.
...X900,000 0 0
.. 99,102 0 0

Bills Payable, and
other Liabilities 222,459 6 2
Deposits

1.770,752 19 2"

------ _
The CHAIRMAN, after some Observations °Scorn:
general state of the Bank and the jiustr6lian
nies, moved the ado •ofthe report, adoption
Newman, the
meeting bad been addressed by Mr. 1 other
Rev. Mr. Madge, Mr. G. R. Robinson, and severs
proprietors, was received and adopted.
room of Mr. Atherton, resigned on
Mr. Hananel De Castro was then chosen a director.
which, after the
in
colonies in the service of the Bank ; and the three
directors going out by rotation were unanimously re-
elected.
Votes of thanks to the Chairman, and of continued
confidence in the Direction, were d and tile
then passe d+
meeting separated. going out to tbe

BIRMINGHAM
BATTLE
OF AND
THE
GAUGES.
OXFORDTJGES .
to
ButmniGRANSA
Turß JUNCTION
DAY RAILWAY.—hs
day,
atnheexatbraovoerdcionmarpyagyenewraasltheealii°nargtdicigeotiii
shareholdersannouncem enoti
of consideringn the coalscf
Royal Hotel, for the purpose
of the directors with reference to the proposed Fah' °
the line to the Great Western, and ofconsidering stin
propriety of instituting a suit rsuits in or of
instituting such proceedings in or ot
of Parliament pe:tirtTent
might be deemed advisable. Mr. P. H. Stunts, the
chairman of the board of directors, pre,ided, and 'l°
supported by Mr. Russell, M.P., Mr. Barlow, and other
directors of the Great Western Company. Th.
" Mozley party" assembled in great force. As, how'
ever, it will be seen by the result, the proceedings well'
unexpectedly brought to a very sudden termination.
The Secretary having read the resolution by which
the meeting was convened,
Mr. MOZLEY presented himself, and said be was hapg
to announce that he believed the proceedings of ta°.
l
Ho
present meeting would not occupy any great lengweth c.f
time. He regretted that a Committee of thehear.
Commons had refused to allow the shareholders a
ing of their case; and he regretted this the more biechart;
the course adopted, and of which they had r-g the
complain, was taken upon objections suggested bf The
trustees of their own property.—(Hear, hear.)
greater.
House of Lords had, however, done them
the orders had Hot been compliedwith,
justice; the Standing Orders Committee bad decided OAS
the Bill now before Parliament should be further pro'
seeded with it should be brought before the share;
holders for their approval or d* r val. Ile shell'
therefore. content himself withisaPP the following
moving
"Thatlutio:— and that before
inasmuch as this meetin is informed that ire
Standing Orders Committee of the House of Lords liabe
decided that it is the duty of the directors to lay
Bill now before Parliament for amalgamating this c°--
pany with the Birmingham, Wolverhampton, and Ducl.ineYg
Railway Company, and selling the united undertaklbe
before the
to the Great Western Railway Company,
shareholders (under the order known as Lord Whars
cliffe's order). this meeting deems it right, from respell°
to the House of Lords, to ad;ourn, in order to aired ell
directors an opportunity of submitting the aforesaid i-g')o,
to the shareholders, or taking any other steps j°,,c
formity with the resolution of the Standing Orders
mittee; and it is accordingly resolved, that this ruee
Detl7,
is adjourned until Saturday, the 19th inst.. at r
Rey;.l flo;e1, Birmingham, et two o'clock in the sft?ii.
110,)n, and that the further consid ration of all and
t
gular the matters mentioned and referred to in r 1:
requisition of the shareholders of the 29th of Af.
Pril
1847, he adjourned unto, and be resumed if necessar
at such adjourned meeting."
lie (Mr. Mozley) hoped that the meeting would fhint..l4
with him, that this wa4 the most proper course tosu:;
adopted. as it was in strict compliance with the expres
wish of the 1-I.use of Loris. The directors VI (mid noin.
have time to reconsider the matter, and he was '.°l:
without hope that, in the interim, SOW (, means might
suggested by which the unseemly and expensive contecl,
in which they were engaged might be tereli":otoie e
He (Mr. M, zley) was not prepared to say that
at ion
t-rr twetnent, in ght not be maths by modifie
s.f the Bill now before Parliament, which would ss.t!s],
A
the great body of the shareholders, and onset the
y'
which the Legislature originally had in view. t by
Mr. PARSONS seconded the motion, and being Ptu
1- it d unanitrously.
The meeting then adjourned until Saturday next'
frona tbii
FRIEBURG, JUNE I. rile iron railway •---
?lace to Millheini was opened this day.