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

BANK OF AUSTRALASIA.

The thirteenth annual meeting of the proprietors was
held yesterday morning, at their premises, in Austin
Friars, Oliver Farrer, Esq., in the chair.
After the advertisement convening the meeting had
been read, Mr. Milliken, the secretary, was called upon
for the report which the directors had decided upon sub-
mitting to the meeting, which is as follows

"THE THIRTEENTH ANNUAL REPORT BY THE
DIRECTORS OF THE BANK OF AUS
tRA-
LASIA, TO THE PROPRIETORS, ASSEMBLED
AT THE MEETING HELD AT THEIR OFFICE,
No. 8, AUSTIN-FRIARS, ON MONDAY, JUNE
14, 1847.

" 1. The directors, in making this their thirteenth re-
port to the proprietors, submit, as usual, a statement of
the affairs of the Bank since their last annual meeting.
"2. During the past year the trade of the colonies
has improved ; and by extended transactions, that por-
- -

tion of the capital of the Bank which had accumulated in
London, has recently been brought into active operation.
" 3. On the other hand, the agricultural interests have
suffered from the low prices obtained for the wools of
the last season, and by a great deficiency of labourers.
The latter has been most severely felt by stockholders
and settlers, and has made their properties compara-
tively unproductive, while at the same time it has ren-
dered those held by the Bank difficult of realisation.
" 4. The altered circumstances of the Bank, and the
suspension of dividends, rendered it, in the opinion o
the directors, imperative to discontinue the operation o
the Retiring Fund, noticed in their report of 1842, and
the amount that had accumulated, has for the pre.
sent been placed in relief of the Bad Debt Fund ; but
the re-establishment of the fund may become a matter
of consideration hereafter, should the interests Of the
Bank appear to require it.
" 5. The directors have hitherto refrained from giv-
ing in their reports any estimates of the losses on
doubtful debts; until further progress had been made in
the realisation of insolvent and bankrupt estates, and
until the superintendent and managers had been en-
abled to make more correct calculations. This having
now in some measure been accomplished, the directors
think the time has arrived when the amount 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 last report, it will be observed,
that there remained on the 13th of October, 1845, an
unappropriated balance (but which the proprietors were
informed would in all probability be absorbed by losses)
o"

_ .
£109,307 0 7

To this are now to be added the nett

profits in the colonies and in London,
for the year ending the 12th of October,
1846, after defraying all expenses of

_
management - 46,586 1 3

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-
penses incurred in the
suit against the Bank of
Australia,from its com-
mencement up to the
12th of October, 1846,
(a considerable portion
of which it is expected
may ultimately be reco-
vered) ........ .... 8,252 13 1

21,752 13 1

Leafing 4134,140 8 9
The total amount of losses ascertained
and estimated by the superintendent
and managers being 142,265 1 9

It follows that a balance remains to be
provided for out of the profit of the
current year of #8,124 13 0
"8. The above statement shows the estimated amount
of loss, according to the opinion of the superintendent
and managers, the entire accuracy of which can only be
finally ascertained when the various and extensive pro-
perties, held by the Bank, in security or satisfaction of
debts, are realised. The directors consider the greatest
care and caution in the gradual accomplishment of this
object as most essential, being, in their opinion, the only
means of preventing further losses upon some of the
old accounts, of which they cannot but feel apprehensive.
"9. The numerous and diversified duties of Mr. Hart
the superintendent, in the general control of the business,
and in the management of the several properties held by
the Bank, notwithstanding his acknowledged zeal, in-
crustry;--and talents, render it impossible for him to give
that minute and constant attention to these various
matters which their nature and magnitude demand.
Under this conviction, the directors came to the resolu-
tion of sending a person to the colonies, to aid and coun-
sel Mr. Hart in the performance of those duties; and it
was with much satisfaction that they found their
late colleague, Mr. Atherton, willing to undertake so im-
portant a mission, from which they anticipate the most
beneficial results; and they await his report with great
interest. Mr. Atherton's duty will be to advise and co-
operate with Mr. Hart, but without executive power.
" 10. The directors are convinced, from their expe-
rience of Mr. Atherton's talents and general habits of
business, his intimate acquaintance with the affairs and
position of the Bank, as well as his legal knowledge,
and his perfect agreement with them, as to the course
to be pursued, that they could not have selected n fitter
person for the office.
" 11. In accordance with the assurances given in their
last report, the directors lost no time in obtaining the
necessary documents from Sydney, to enable them to
proceed with the appeal against the Bank of Austral.a,
and they have now to inform the proprietors, that the
cause has bern set down for hearing before the Judi-
cial Committee of the Privy Council.
" 12. The directors conclude with the usual Statement
of the Assets and Liabilities of the Bank.

ASSETS.
Government Stock, Specie, and Cash £430,027 7 3
Landed Property and Bank Premises 23,056 0 2
Bills Receivable, ar.d other Securities 1,309,544 17 9
Balance (to be provided for out of the
profits of the current year)

8,124 13 0

£1,770,752 18 2

LIABILITIES.
Capital £900,000 0 0
Circulation
_

Bills Payable, and
other Liabilities 222,459 6 2
Deposits
£1,770,752 18 2"

The CHAIRMAN, after some observations on the
general state of the Bank and the Australian colo-
nies, moved the adoption of the report, which, after the
meeting had been addressed by Mr. Newsam, the
Rev. Mr. Madge, Mr. G. R. Robinson, and several other
proprietors, was received and adopted.
Mr. Liananel De Castro was then chosen a director,
in room of Mr. Atherton, resigned on going out to the
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 then passed, and the
meeting separated.

SPORTING INTELLIGENCE.
TATTERSALL'S—DIortDAY.
Our quotations, like the share lists, aro somewhat
lengthy, but, if analysed, would show but a moderate
amount of " business done." We may, therefore, con-
fine ourselves to stating that the Conjuror, Conspiracy,
Grimston, and Best of Three, were in demand for the
Northumberland Plate ; The Hero, for the Goodwood
Cup ; Vampyre and The Questionable, for the Good-
wood Stakes; and Assault and Nil Desperandum for
the Derby.
Closing prices:—
THE NORTHUMBERLAND PLATE.
5 to 1 agst Mr. Green's The Conjuror—t. af.
5 to 1 agst Lord Glasgow's Conspiracy—tak 6 to 1
8 to 1 agst Sir J. Gerard's Grimston—taken
12 to 1 agst Mr. S. L. Fox's Executor—taken
12 to 1 agst Mr. Meiklam's Inheritress—taken
12 to 1 agst Lord Eglinton's Eryx—taken
12 to 1 agat Mr. Meiklam's Best of Three—taken
14 to 1 agst Mr. Yarburgh's Miss Sarah.
Even on Conjuror, Conspiracy, Grimston, Executor,
and Best of Three agst the field.
A question has been raised whether Conspiracy, as
the of
weights. 20 01 . ,
or up-
wards,he T
winner of a pocket handicap at Newmarket, comes
the of
declaration
l a
r handicapatien ef
within the meaning of the condition imposing a penalty
of6lbsb
s. on-sute subsequent
winner
t to
matter is before the Stewards of the Jockey Club.
000DWOOD CUP.
sto 2 agst Mr. John Day's The Hero-3 to 1
taken freely
7 to 1 agst Mr. G. 11. Moore's Wolfdog
12 to 1 agst Monsieur Aumont's Fits Emilius—t.
12 to 1 agst Sir J. Hawley's Mendicant
' 15 to 1 agst Mr. Isaac Day's Sir Tatton Sykes
16 to 1 agst Mr., Whaley's Burgundy
20 to 1 agst Baron Biel 's Sunbeam
000DWOOD STARES.
17 to 1 agst Duke of Richmond's Vampyre—taken
25 to 1 agst Mr. Sainsbury's The Questionable—t.
30 to 1 agst Lord E. Russell's Dulcet—taken
30 to 1 agst Colonel Anson's Martext
33 to 1 agst Sir J. Mill's Miss Ells—taken
35 to 1 agst Mr. Gratwicke's Queen Mary—taken
35 to 1 agst Mr. Etwall's )Egis—taken
35 to 1 agst Lord Chesterfield's Stultx—taken
40 to 1 agst Mr. Sandford's Kimblesworth
40 to 1 agst Mr. Robinson's Morpeth—taken
40 to 1 agat Mr. Wormold's hydrometer— taken
50 to 1 agst Mr. Hutchinson's Emigrant.
ST. LEGER.
3 to 1 agst Mr. Pedley's Cossack—taken
6 to I apt Lord Eglinton's Van Tromp
20 to 1 agst Mr. Stephenson's Black Dwarf
25 to 1 agst Mr. Merry's Limstone—taken
30 to 1 agst Mr. John Day's Farmer's Daughter
40 to 1 agst Lord Stradbroko's Coningsby—taken
DERBY.
13 to 1 agst Mr. B. Green's Assault—taken
25 to 1 agst Mr.
John
to 100/y.
Da's Nil Desperandum-
-30 to 1 agst Mr. •
tken
13 Green's Flatcatcher—taken
,
o
1000 t 30 agst Mr. Mostyn sSurplie—taken
45 to
1 agst Mr. Sandford's Sheriff.

FOUR-OARED MATCH BETWEEN THE THETIS
AND THE ST. GEORGE'S.
Yesterday this match, which has for the last month
excited much interest, " eame off," and afforded great
satisfaction to a large number of the elite of the river.
Although this match may be termed most emphatically
an amicable one, yet had the rival crews been animated
by the bitter feelings of the Montagu and Capulet they
could not have devoted more time and attention to their
training and practice, in the course of which they dis-
played such speed as materially increased the inter*

resulting from the well-known merits of the crews, of
whom a word or two of comment may not be out of
season. The St. George's Club have fur years past dis-
tinguished themselves in four-oared and other matches,
and in 1845 represented the Llndon river in the eight-
oared matches at Henley and Putney Re;attas, winning
the Ladies' Cup at the former, and rowing oar and oar
with the Cambridge University at the latter ; at Erith,
also, they shared the honour, though not the victory,
with the "brilliant Leander." The Thetis Club, though
less fortunate, have rowed " well in front" at both Put•
ney and Erith. The course was from Chiswick Eyot to
Putney-bridge, with tha tide. Amongst the cutters ac-
companying the match, we observed Lord Kilmorey's
four, the Leander, Thetis, and St. George's eights, the
Engineers four, cum multis aliis. The racing crews were
composed of the following gentlemen:—

ST. GEORGE'S. i TIMM.
IW. Full, Esq., 9st Glb 1,1 J. Robertson, Etq., 9st
2 J. Lane, E, q., lOst 101 b 10:b
3 S. Wallace, Esq , 12st 101 b 2 Murray, Esq., lOst Slb
4 W. Couithu.d, Esq., llst 3 llind, E q., lOst Slb
101 b '4 G. Porter, Esq., lOst 91b
Coxswain—R. White, Esq. —Breachett,Esq.,cr.xswkin
The ha tting was fluctuating. T. L. Jenkins, Esq., of
the Leander, officiated as umpire, and the crews now
took their stations; the St. George's, hlirirr won the
toss, took the Surrey shore, and on the word " off," the
oars of both crews "clipped " the water simultaneously;
the first dozen strokes, however, waft the St. George's
half a boat's length ahead, another dashing dozen bring
them clear, and in this position they swing down to
Hammersmith; here a spurt is put on by both boats, the
result of which tends to increase the lead already gained
by the St. George's. Between this and the Crabtree the
surf raised by a stiff south-easter is decidedly "lumpy,"
end the weight and strength of the St. George's crew tell
heavily, they lift their boat ahead at every stroke, and
ultimately ra-S under Pt Viey-bridge nearly twenty boat,'
lengths ah, ad. Both boat; shipped water, the Thetis
being most unfortunate in this respect. The pace was
very good throughout.