The Sun.
London, England, 1841-05-28 00:00:00

told him that he (Mr. Buller) ought not to speak, he was going
to ask a question of the Right Hon. Member for Montgomery. It
would be convenient if the rules of order were persevered in
in that House, and if Gentlemen on the other side made vio-
lent party speeches, ought not some answer to be allowed to be
made to such speeches ? He was then going to speak with
perfect moderation on the subject, and point out the want t,f
fairness there was in introducing measures for a prosecution on
cx parte statements, which were not borne out. At the same
time that the Hon. Member moved for further proceedings
in this case, he ought to move for further proceedings in the
case of Walsall.--(Hear. )
Mr. ELLIOT said that he would be happy to join in any
course that might be adopted to obtain proof of bribery, if retch
had existed, but he thought it rather hard to call on the Com-
mittee to state whether or not they would take up the case.
Mr. WYNN said be would state his reasons for taking what
alight seem an irregular course. He wished this motion to
run parallel with that of the Noble Lord, for leave to bring in a
Bill ft); the prevention of bribery, with which he thought it in-
timately connected. This might have been a case in which
the Committee had not power to act, as the parties might not
have been before them. He could prove the fact of bribery by
two witnesses. This was a question on which it was the duty
of the House of Commons, as the great inquest
of the nation, to institute proeeedings. The
Honourable and Learned Gentleman asked him to
institute proceedings also with respect to Walsall. He had
read the evidence before the two Committees carefully, and did
not see that bribery was proved in the one, while it was almost
evident in the other. But let them not endeavour to pair off
in that way. If bribery was proved at St. Alban's, punish it ;
if at Walsall, punish it.----(Cheers.)
Mr. AGLIONBY complained of the irregularity of the dis-
cussion into which they had been drawn. It was not fit, under
the discrutse of a question, to enter into a long statement.
Mr. 'WYNN said that his statement had been drawn from
him by what had fallen from the Hon. and Learned Gentleman
opposite (Mr. C. Buller).
Mr. AGLIONBY apologised under those circumstances for
the statement he had made.
The conversation then dropped.
IRISH REGISTRATION BILL.

On the motion of Lord STANLEY, the Order of the Day
for the second reading of the Irish Registration Bill was read
for the purpose of being discharged.
The Clerk of the Peace (Lancaster) Bill was read a second
time.

The School Sites Bill (No. 2) was read a second time.
The other Orders of the Day were then disposed of, and the
House adjourned at One o'Clock.

NATIONAL BANK OF IRELAND.
The sixth annual general meeting of the Directors and
Proprietors of the National Bank of Ireland, took place
on Wednesday at the Company's offices, 13, Old Broad-
street. At one o'clock the chair was taken by Daniel
O'Connell, Bsq., M.P., Governor.
The Directors present were Col. the Hon. Leicester
Stanhope, Maurice O'Connell, John Rawson, Robert
Sutton, jun., J. C. Ruding, E. F. Green, John Harman,
T. Lamie Murray, S. P. Rickman, James Reade, J. R•
Elmore, A. P. Johnson, J. J. Keene ; and among the
Shareholders we observed Sir Burton M‘Namara, Capt.
Scallan, the Rev. Thomas Madge, James Hutchinson,
Charles Bianconi, Richard Smithwick, James Lowe
Wheeler, Patrick Hynes, Francis Frith, Charles Rule, E.
O'Beirne, Charles Green, James Johnston, James Ruf-
fell, H. M. Jones, John Robins, Augustus Vigne, Paul
Bevan, Arthur Buckley, John Thomas, William King,
John Hardy, and Joshua Bacon, Esqrs.
On taking the chair the GOVERNOR said their first
duty in the ordinary course of business was to call on the
Secretary to read the advertisement convening the
meeting.

The Secretary, Frazer B. Smith, Esq., having read the
advertisement,

The GOVERNOR then called upon the Secretary to read
he Report, which had been unanimously agreed to by
he Directors.

The Secretary then read the Report as follows :

REPORT
Of the Directors of the National Bank of Ireland, made
to the Proprietors at the Sixth Annual General Meet-
ing, held at the Office of the Company, No. 13, Old
Broad-street, London, on Wednesday, the 26th of
May, 1841.
The Directors have much pleasure in meetinc, the Pro-
prietors, assembled on the present occasion, and in sub-
mitting the usual statement of accounts, exhibiting the
result of their labours for the past year, whereby the
best evidence will be afforded of the continued prosperity
of the Company, and of its affairs having been prudently
and profitably conducted.
In concluding the Report made at the last Annual
General Meeting, the Directors announced their inten-
tion of increasing the rate of dividend on the paid up
capital of the Company to 6 per cent., and from the
steady and satisfactory progress of the business of the
Bank, they expressed a confident opinion that they would
not only be enabled to maintain that increased rate of
dividend, but also to make in each succeeding year a
considerable addition to the Proprietors' Reserve Fund.
When the unsettled state of the Money market, and
the very extensive failures which have occurred on both
sides of the Irish Channel during the past year, are
taken into consideration, and that every Bank, carrying
on business on an extended scale, must be affected, more
or less, by such unexpected and disastrous events, it will
prove highly satisfactory to the Proprietors to learn, not-
withstanding these adverse circumstances, that the ex-
pectations which were held out to them by the Directors
at the last Annual Meeting have been realised, as will
appear by the following statement to which their atten-
tion is now requested : s. d.
Undivided Profits at December, 1839
Net Profits for the year ending Dec. 1840 27,744 12 4

£43,283 9 1

Deduct last year's Dividend to the Pro-
prietors, for Midsummer, 1840, 10,500,
Ditto, ditto, for Christmas, 1840, 10,500,

21,000 0 0

Leaving amount of undivided Profits at
December, 1840
From the foregoing it will be observed that the net
profits of the last year, after defraying all the current
expenses, and providing for bad debts, amounted to
27,7441. 12s. 4d., and after the payment of the increased
rate of dividend for the year, of 6 per cent., that a sur-
plus remains of 6,7441. 12s. 4d., which sum added to the
previous undivided profits, leaves a total of unappro-
priated profits of 22,2831. 9s. 6d. at the credit of the
Reserve Fund in December last.

In conclusion, the Directors have much satisfaction in
assuring the Proprietors, that on taking a careful review
of the entire concerns of the National Bank of Ireland,
they not only continue to feel the same perfect confi-
dence, so strongly expressed by them in former Reports,
but the growing prosperity of the establishment now
fully warrants them in renewing that impression, and
the well-grounded opinion that it will become, under
prudent and cautious management, equally a source of
profit to the holders of its stock, as it has already proved
eminently beneficial to all classes in those districts of
the country in which its operations are conducted.
There are now to be elected four Directors, in the
room of Christopher Fitz-simon, Esq., John Rawson,
Esq., Colonel the Hon. Leicester Stahope, and John
Joseph Keene, Esq., who retire by rotation, all of whom
are candidates for ie office, and eligible to be re-elected.
Since the last Annual General Meeting the Court of
Directors have filled up five vacancies in the direction
(two since the notice convening this meeting). These
appointments will now require the confirmation of the
Proprietors, and which will complete the number of Di-
rectors to sixteen, as provided by the deed of settlement.
The GOVERNOR—In calling the attention of the Pro-
prietors to the Report, and in submitting it for their ap-
probation, wished to state that if any part of it had not
been distinctly understood, it would be read over again,
and any explanation that was required would be given
with•regard to the several matters referred to therein.
He thought the Directors had a right to congratulate the
Proprietors and themselves upon the present posture of
the affairs of the Bank.—(Hear, hear.) Last year was,
in some respects, one, giving advantages to those inte-
rested in the management of banks, because it was a year
in which Ireland was favoured by Providence with a
crop, in some respects, beyond the usual average, and as
that country was unhappily almost exclusively an agri-
cultural one, of course an increase in the agricultural
produce must necessarily produce an increase of specula-
tion and business, and must prove a source of profit to es-
tablishments like Banks, which make advances upon secu-
rity to be turned ultimately into capital in this country.
The only favourable feature in the history of the bank-
ing concerns of the country for the last year was a good
harvest. In other respects there were many circum-
stances of an unfavourable nature, and which were cal-
culated to impede the progress of an Institution like the
present. There was the ultimate closing of the Agri-
cultural Bank. It had, as they were all probably aware,
suspended its operations shortly after its existence, and
again after fluttering for some time, and throwing out
branches into different parts of the country, it finally
closed in the course of the past year. That necessarily
disparaged and threw doubts upon the circulation and
stability of every other Bank ; and where it did not
operate to disparage, it rendered great caution necessary
on the part of the Directors, and caused them to incur
additional expense, which he trusted they would not be
called upon to incur again ; and indeed they could not
for the same purpose, for that Bank was gone, and there
was no possibility of its being revived. The people of
Ireland had this reason to place confidence in the Direc-
tion of the National Bank, that when the Agricultural
Bank was first established, he had felt it his duty to
publish and give circulation to a caution to the people of
Ireland against the plan they had adopted—namely, the
carrying on their operations, not upon capital but upon
debt. He had denounced the plan at the time, and if
there was any confidence reposed in him on behalf of
the National Bank, that would not be diminished by the
recollection that the Bank that had failed had been de-
nounced by him on its first-establishment. Other failures
also had occurred, that had interfered with the commer-
cial arrangements in Ireland. The failure of Wright
and Co., and others, had operated to a certain extent,
and tended materially in diminishing the profits
of the Bank, by increasing those cautionary expenses
which they were obliged to incur whenever such un-
toward events occurred in Ireland, in order to be pre-
pared against any possible contingency.—(Hear, hear.)
The Proprietors would find on a reference to the Report,
that not only was their concern a profitable one, but that
they were able to pay a dividend of 6 per cent. again,
and in addition to that, a sum of 6,744/. 12s. 4d. was
added to' the rest—thus making the clear profits unap-
propriated amount to 22,2831. 95. 6d. after deducting two

half years' dividends at 6 per cent. which amounted to
21,000/.—(Hear, hear.) He was directed by the Board
further to inform the Proprietors, that they had not.the
least hesitation in assuring them that the dividend pay-
able in July next, would be at the rate of 6 per cent.—
(Hear, hear.)—From these statements,. he thought it
must be manifest to the Proprietors, that the concerns of
the Bank were prosperous, that their prospects were
good, that their resources were increasing, and the risk
diminishing in proportion as they became acquainted
with the characters of the trading and commercial com-
munity. They were all aware that when a Bank was
first established, it had to feel its way, and the parties
who were most likely to deal with it in the first instance
were-persons who had worn out their credit or created
suspicions as to their stability in the minds of other
Banl:s. In short the first commodity with which a
Bank dealt was, perhaps, the worst it would meet with
in the course of its transactions. As it proceeded it got
rid of those weeds of commerce, and began to know
the r:oc d fruit from the bad—its extended dealings made
it more conversant with men of business, and
it became master of a subject in which
it was at first only making experiments. It was now
his ditty to submit to them the proposition, that the -Re-
port, which had just been read, be confirmed, printed,
and circulated among the proprietors. He had the
pleasure to add, that, although notice had been given to
the shareholders, no candidate had been named to fill up
the vacancies in the direction, except those mentioned by
the Secretary in reading the Report. There were four
gentlemen to be re-elected, and five whose appointments
required the confirmation of the meeting. The names
would be submitted to them presently, but no other per-
sons now offered themselves, which was an evidence of
that unanimity of action which was always desirable in
institutions like theirs, and which was so conducive to
perfect harmony and co-operation.—(Cheers.)
Mr. BtAxcost had great pleasure in seconding the
motion for the adoption of the Report.
A PROPRIETOR said the Report which had been read
to them was extremely satisfactory ; but their profits
after all, were not equal to what they were in the pre-
ceding year, because, if he recollected aright, they had
last year added upwards oflo,oool. to the rest.

The GOVERNOR would remind the Hon. Proprietoa
that the dividend for the year 1839 was only five per
cent., and consequently they had been enabled to add a
larger sum last year to the reserved fund. The increase
of the dividend amounted to 3,5001., and if that sum,
were added to 6,7441., the undivided profits of the year
it would be found that their profits were fully equal to
those of the previous year.—(Hear.)
The PROPRIETOR had understood that last year the
whole of the preliminary expenses had been paid off, and
it should also be remembered a large sum had been set
aside to meet the losses they had sustained aeCork.
The GOVERNOR said the fact was, they had suffered
considerably by the failure of the Agricultural Bank, in
consequence of being compelled to restrict their busi-
ness in particular localities, and, as a measure of pre-
caution, they had been obliged to keep on hand a very
large amount of gold for some months. Last year, con-
sequently, was not so profitable as it otherwise would
have been. The net profits of the 'year 1838 were
22,797/., and the dividend amounted to -17,500/., leaving
to be added to the reserved fund a sum of 5,2971. In
1839 the net profits were 27,336/.2 and in the year end-
ing December, 1840, they were 27,745/. so that in
point of fact their profits were 400/. more than the pre_
vious year.—(Hear, hear.) In 1839 they had added
9,836/. to the rest, but the dividend in that year was
only 17,500/., whereas last year it was 21,000/., while
they had added 6,744/. to the rest.—(Hoar, hear.)
The question that the Report be adopted, printed, and
circulated among the Proprietors, was then put and car-
ried unanimously.

The GOVERNOR said the next business he had to bring
under their consideration. was the re-election of the four
Directors who went out by rotation, namely, Col. the
Hon. Leicester Stanhope, John Rawson, Esq., Christo-
pher Fitz-Simon, Esq., and John Joseph Keene, Esq.
The motion was then put and unanimously agreed to.
The GOVERNOR said the next business was to confirm
the election of the five gentlemen who had been appoin-
ted as Directors.

A PROPRIETOR said, before the question was put, he
wished to make one observation. He hoped that care
was taken to select for these vacancies gentlemen
of experience in commercial matters. When he saw
then dividing 6 per cent., and putting by a large sum an-
nually to the reserved fund, while their shares were at a
discount in the market ; he could not help saying that
there appeared t-) be a want of confidence in the public
generally as regarded the. concern. Banks which had
only been established about the same time, for
instance, the London Joint Stock Bank were at a pre-
mium, although they were only paying 5 per cent. He
certainly did not know any Bank the shares of which
were so low while its financial affairs were in so prospe-
rous a state, and he hoped therefore that great care would
be taken as to the parties who were to be introduced into
the Direction. He could assure the meeting that he did
not make these remarks with a view to disparage any of
the gentlemen in the Direction, but was merely actuate,'
by a wish to promote the interests of the cor.cern.
The GOVERNOR said the observations that had
been made were very important and deserving of the
highest consideration and attontiom-, Their anxiety had
always been to add to their number gentlemen of com-
mercial and business habits. With regard to the shares
of the Company being so low in the market, it should be
borne in mind that in London there was not the same
confidence in an Irish speculation as there was in an
English one.—(A Proprietor said the Provincial Bank ?)
As to the Provincial Bank he would take the liberty of
saying that the shares of that Bank had been at a much
greater discount than theirs were at present. Since then,
however, the confidence of the public had increased, and
the shares of that Bank had risen to a premium.(Hear,
hear.) But the Provincial was certainly at a much lower
price than their own at one period. He believed it to
be an exceedingly well-managed concern, and one
which was calculated to be productive of great utility
to the shareholders and the public. There was no
kind of unworthy rivalry between the Provincial Bank
and themselves—the more prosperous it was the mor
the National, Bank would be benefited, and with regard
to the suggestions that had just been made, he was sure
it would be the duty of the Board to adopt and carry
them out to their fullest extent. It might be that
rumour had got abroad that there was not perfect una-
nimity among the Directors—if such was the case he
was happy to have that opportunity of stating, that
there never was a body of gentlemen who acted in such
perfect unanimity with each other.—(Hear, hear.) He
did not believe there was a possibility of any circum-
stance arising to disturb that harmony, and he could
assure the meeting that they had but one object in
view—namely, to advance the interests of those with
whose property they were entrusted.—(Cheers.)
The question for the confirmation of the appointment
of the five Directors, viz., Edmund Francis Green, Esq.,
Samuel Philip Rickman, Esq., James Reade, Esq., John
Harman, Esq., and Adolphus Pugh Johnson, Esq., was
then put to the meeting seriatim, and unanimously
agreed to.
The GOVERNOR then intimated that all the business
had been gone through.
JAMES LOWE WHEELER, Esq., said it would be highly
improper in them to separate without expressing their
obligations to the Board of Directors for the manner in
which the business of the Company had been conducted.,
He should therefore move that the best thanks of the
meeting be given to the Governor and the Board of Di-
roctors, for their zeal and ability in the management of
the affairs of the Company,-.(Cheers.)
The mofion • having been seconded by another Pao-
P;IIETOR, was carried with acclamation.

The GOVERNOR said the Directors and himself were
vory sensible of the mark of their kindness and confi-
d..nce that had just been given, and he trusted they
nuld deserve a continuance of it by a zealous attention
to the interests of the concern.

The meeting then separatecr; all the Proprietors ap-
pearing to be highly satisfied with the proceedings of
the day.

REPRESENTATION OF MARYLE-

BONE.

A meeting of the electors of Marylebone resident in the
district of Christ Church was held last evening at the Duke of
York Tavern, Portland-town, for the purpose of taking mea-
sures to secure the election of Commodore Sir Charles Napier
to represent the bs.rough of Marylebone in the next Parlia-
ment. The ball-room of the Tavern, which holds about 500
persons sitting, was crowded to excess, and the explana-
tions of the Gallant Commodore, which were nearly
word for word the same that we have already reported in
The Sun from the previous district meetings in the
borough, gave univers4l satisfaction—so much so, that
seven avowed Chartists, who created in the early part
of the evening a little disturbance, absolutely refused to divide
upon a motion, pi oposed by way of amendment, in favour of
Mr. G. A. Young, and the original resolution pledging the
electors present to support Sir C. Napier, was carried unani-
mously.
Wnen the business of the meeting was concluded, F. Flood,
Esq., the Chairman, proposed three cheers for tie Queen and
the Commodore, and never were three times three cheers
given with greater enthusiasm.

CITY OF WESTMINSTER LITERARY, SCIEN-
TIFIC, AND ME(. ANICS' INSTITUTION..--Mr. Wilson last
night gave another lecture on Scottish melody and song at the
above Institution, which was illustrated by a number of strains
of the north countrie, sang in this eminent tenor's best style.
Want of space prevents us from noticing the various interesting
points touched upon by Mr. Wilson, who manifested much an-
tiquarian reading, interspersed with appropriate remarks and
amusing anecdotes. We never heard Mr. Wilson in finer voice
than he was last night. The " Red. red Rose," " The
Banks of Aberfeldv," "
Fee him, Feyther, fee him," John
Anderson. my Jo "My Boy Tammie," and others, received
the most ample justice at his hands, and most of them called
forth rapturous encores. The audience was most numerous and
respectable, and seemed in the highest degree delighted with the
evening's entertainment, as well they might, for no one better
fitted could have been selected by the Institution to lecture on
such a subject.