The Sun.
London, England, 1847-05-22 00:00:00

PROVINCIAL BANK OF IRELAND.
The twenty-second earl‘ gseerai mee irg of the pr,prie-
to, of the Provi Bank t ,•46 load nt t,. rive .
(bit broad-
tided( Thursd d tire sf
stria. Oliver Farrir, ca;le.i to the ciarrir, on the
mot of it ssoies iisris
The adveriisement tasssing Laving bet!:
read,
The CHAIRMAN proposed the re• election of the four follow-
ing directors, who went out by annual rotation :—Jolin Allis-
t Esq., James Fairer, E,q., JOhn Petty- Muspratt, Esq.,
*TS! Alfr+ d Thorp, Esq.
The motion was unanimously adopted.
The CHAIRMAN then said that the next duty he had to
perform was to call on the Secretary to real the report of the
directors upon the proceedings of the establishment (luring the
last awful and eventful year. Ile would enter into no state-
ment until that report should, have been laid before them ;
after that he would be happy to give any information that
might be required of hi.n ; and be trusted that the report
would be satisfactory to the meeting.
The SECRETARY then read the following report:—
"In submitting to this meeting the result of the business
of the bank for the year ending the 27th March last, the di-
rectors feel it to be necessary to notice the calamitous circum-
stances resulting from the failure of the potato crop of last
year, and the very great distress aed suffering that has in
consequence existed and still prevails in Ireland; but while
a matter of such importance, affecting every interest in the
kingdom, and calculated, immediately or more remotely, to
exercise great influence on the welfare of the community.,
cannot be passed over in silence, the sufferings of the Irish
people have occupied so great a share of attention and sym-
pathy in this country, and may be said to have become so
painfully familiar to all, that it is not necessary on this occa-
sion to detain the proprietors by attempting to state any de.
tails, the leading features of which must be already so well
known.
"In their report to the last yearly general meeting, the
directors in referring to the distress that had existed in Ire-
land prior to that time, stated that they had felt it to be their
duty to contribute on the part of the bank, in aid of the local
subscriptions for promoting employment and providing food.
Urgent applications for pecuniary assistance in relieving the
destitute have since continued from time to time to be re-
ceived by the directors, with which they have not hesitated
to comply. The directors, however, have not made a general
subscription to any of those associat:ons through which large
amounts have been contributed by the benevolent in this
country and elsewhere, it having been considered that through
the instrumentality of the bank's officers in Ireland, and the
local committees formed in the districts in which the several
branches are situated, the sums voted from the funds of the
bank could be more beneficially and economically applied.
" The directors cannot omit to notice that the necessity
! which arose for large importations of grain, at a period when
apprehensions of scarcity and a consequent demand for it ex-
isted, in order to supply the wr nts of other European king-
doms, has led to greatly increased prices, whicl, c mbined
with other causes, has had a material effect upon the money-
market. To this the directors have for a considerable time
looked forward, and they have accordingly throughout the
whole of the past year exercised the utmost vigilance and
caution. The proprietors will readily understand that, in
consequence of the comparative cessation of exports from Ire-
land, and the large imports of food into that country, a great
change must necessarily have taken placo in the current of
commercial and of banking business there. and to this change
it has, of course, become requisite trona time to rime to adapt
the regulations under which the business of this bank had
been previously conducted. This has required and has re-
ceived the-daily and anxious attentiori et he iAr,teOris and it
has been their object to all• rd every reasonable fachity to
those engaged in coininerzi it and agricultural pursuits, but,
at the same time, to be-p the. operatruss ot the yank within
prusent limits. and they are lia„py ro say the results, up to
this time, have been satistac.ury.
" The new brarich opieued a; Carl,w, Alarch, 1846, not
having received that support and escsuragernsin which was
expected, the directors, towards the end of lax': year, re-
solv:d to wit hAraw it, and Lie husiness has accordingly been
wound up, and the branch closed.
" The directors have now o cull the attention of the pro-
prietors to the statement of account which i hey are enabled
to submit to the meeting.
The account submitted the y.,;,:rly get,
meeting in .I,t s) . .1816, sle)wisi the smonst
of rest, on urn .‘larca,
1846, to be
From which has beets deducted the amount
of two half-yearly dividends paid to the
proprietors, viz :
At Midsummer, 1846, 4 per cent. £21,600
At Christmas, 1846, 4 per cent. 21,b00
Together