The Sun.
London, England, 1871-02-06 00:00:00

THE UNITED LAND COMPANY, LIMITED
(This Day.)

The annual meeting of the shareholders was held this
afternoon at the Norfolk-street office, Viscount Banelag h
in the chair. The minutes of the last annual meeting
having been compared, and the advertisement convening
thq meeting read by Mr. C. L. Gruneisen, the secretary,
the subjoined report of the directors was substituted :
"The directors, in presenting this their annual report
of the operations of the. United Land Company, Limited,
for the year ending the 31st of December, 1870, have again
the gratification of submitting to the shareholders a satisfac-
tory balance sheet. A summary of the annual return of
income and expenditure, and of liabilities and assets, chews
the following results :
" Ist. The sale of plots of land on the company's estate:
in various counties amounted during the past year to
£39,176 ls. divided over the following properties, viz.:—
Brighton, Sussex (East), £137 • Clapham Junction, Surrey
(Mid), £2,342; Enfield, Middlesex, £627 ; Forest Gate,
South Essex, £5,922 Is. ; Fulham Fields, Middlesex,
£581; Hammersmith, Middlesex, £2,087; Havant, Hamp-
shire (South), £7,955; Hendon, Middlesex, £394;
Holloway, Middlesex, £2,834; Hereford, Herefordshire,
£304; Ipswich, Suffolk (East) £728; Kilburn, Harrow-
road, Middlesex, £1,078 ; New Ferry (opposite Liverpool)
Cheshire (South) £1,045; Oxford, Oxfordshire, £lO4 ;
Portsmouth (No. 2) Hampshire, (South) £3,632 ; Red Hill,
Surrey, (Mid) £65 • Sundown (No. 2) Isle of Wight,
£522 ; Stafford, Staffordshire, (South) £451; Welling-
borough, Northamptonshire, (North) £1,957 ; West Hill,
Wandsworth, (Putney Common) Surrey, (East) £4,021 •
Willesden, Middlesex, £2,167 ; Wood (green (No. 2,
Tottenham), Middlesex, £120; Worcester (Henwick-
road), Worcestershire (West), £102; total sale of land for
the year, as per balance sheet, £39,176 ls. The estates
referred to in the balance sheet remain at the net. cost,
plus only the proportion.of the outlay for works, redemp•
tion of tithe, &c., on the plots in hand ; the other ex.
penes of every kind having been charged to the profit am]
loss account.
" 2nd. The purchasers' loan accounts have been in-
creased by £34,815 7s. 3d. during the year, while the
repayments in the same period amounted to 223,524 9s 5d
The balances due to the company on this account nov
amount to £51,053 sd.
" 3rd. The whole of the year's working expenses
interest on calls in advance, the interim dividend, nut
interest to the Conservative Land (Benefit Building)
Society are provided for out of revenue.
" 4th.. The sum of £750, being the balance of preliminary
expenses, has been now paid off, and the account is conse-
quently closed in the company's books.
" sth. The £3OO specified in the balance sheet, received
as premium on new shares, taken as part payment of an
estate purchase, has been carried to the credit of a 'con-
tingency fund,' under the articles of association, and as
the directors have been enabled to add to the said
sum of £3OO an amount of £7OO out of revenue, this ' con-
tingency fund' will be seen, as per balance sheet, to be
£l,OOO.

`• 6th. After providing for the foregoing charges, the
directors have much gratification in reporting that there
is a balance to the credit of profit and loss of £4,236 18s. ;
out of which they can declare the usual dividend of 5 per
cent. per anaturn, for the year ending 31st of December,
1870, and in addition thereto, declare a bonus of 3 per
cent. per annum oh the called-up capital (23 per share) for
the same period.
"The shareholders therefore will be paid a total dividend
of 8 per cent. per annum, free of income-tax, for the year
ending the 31st December, 1870, leaving a balance to be
carried over to the next year's Profit and .Loss Account.
" Of the 25,000 shares issued, the numbers taken up to
the end of the past year were 22,891, on all of which £3
per share has been paid up, leaving 2,109 shares unallotted,
of the last issue, on the 31st of December last.
"The retiring directors by rotation are :—Sir Lawrence
Palk, Bart., M,P. ; the Hon. Robert Bourke, M.P. ;
Colonel Brownlow Knox, all of whom are eligible for re-
election, and offer themselves accordingly.
" The Auditors, Messrs. Johnstone, Cooper, Wintle,
and Evans, Accountants and Public Auditors, of 3 Cole-
man Street Buildings, E.C., also retire, and being eligible
forge-election, tender their services for the ensuing year.
" The Directors have reason to congratulate the share-
holders on the success of the past year, the last six months
of which have been of such an unsettled character fox
Commercial and Financial undertakings. With the pur-
chases, however, of land from the various classes who have
Building Advances from the old Conservative Land
Society, a good demand for plots, either on ground-rents
or on payment of the purchase-money of the freehold, has
been sustained, and the increasing value of the co-opera-
tion between the parent society, and the present company
has been proved."

(LEFT SITTING.)