The Sun.
London, England, 1846-03-18 00:00:00

LONDON AND DUBLIN BANK.

The general meeting of the Company of th ls Bank was held yesterday,
at two o'clock, at the London Tavern, instead of at the offices of the
Company in Piccadilly, as first advertised, it having been discovered
that the meeting, if held at the latter place, would be illegal. Sir
Ralph Howard, Bart., M.P., in the chair.
The advertisement convening the meeting having been read,
The CHAIRMAN called on the Secretary to read the report, by
which it appears that the expectation of increased profits which
were held out have been fully realised, the advantage being double
what wait expected. The amount of the credit belonging to the
shareholders is 88,900/., and the securities and deposits
owing to the public is 166,495/., the benefits being
4,1301. 18s. 6d. The amount of assets from private
capital is 30,1961. as. 4d., and in Government Securities
36,786/. 19e. Id. ; the whole amount of the capital being 160,7451.
Iss. 11d. The gross amount of profits have been 13,385/. 13s. id.,
deducting from which the expenses, the net profit was
left which had just been stated. During the year 1845 a
dividend of 4 per cent. had been declared, making a
sum of 1,0351. Us. 10d., and showing a total of 3,0961. 7r. led.
paid prier to the time at which this statement was made. During
the put year the bankand its branches had been generally profitable,
with the exception of the establishment in Dublin, in which there
had been a deficiency. But it was hoped that this defect would
be remedied by the exertions of Mr. Perret, the Secretary, who, en-
joying the full confidence of the shareholders, had been appeii.ted
inspector of the Company's concerns. New branches have been •a
tabliribed at Athey and Kinsale, and there was every prospect of iii-
ture improvement.

The enatatette, in putting the adoption of the report to the meet-
ing, said that the vary satisfactory report which had just been made,
precluded the necessity of ally observations from him, but there was
one point to which he ought to refer —that was the payment of the di-
rectors, Hitherto the directors had refrained from asking for ally
remuneratioti ref their services, end were still ready to defer teat
remuneration to a fatale etelod, hut he thought it had now become
incumbent on the shareholdefe itt make that Mice something
like a return for the efforts of the directors. To do this
it Would be requisite to set aside a sum, say SOM. a year, fot the
directors, wiseee number they might restrict to five or There
was another point to which he would refer, and that was the littlein
branch. They there obtained only the refuse of the business, and
the establishment in Dublin might be dons away with, but this was
a matter for consideration, and with this suggeitiOn he would more
the adoptien of the report.
Colonel Aceroise M.P., seconded the adoption of the report, and in
doing so he thought that it was worth while to notice the advantages
of the management residing in London.
Mr. Kellam, an auctioneer in Dublin, wished to suggest, before
the adoption of the report, that a charge should be made en as to pro-
vide a directory in Dublin, which he was convinced would be of
great advantage to the company, and he thought that four gentlemen
ought to be appointed in addition to Mr. Guiness and the other
gentleman already in etlice there, To give his objection a sub-
stantive form he would put it in the shape of an amendment.
Mr. OMANNT, before Mr. Farrell's amendment was put. thought
that an observation was necessary from the directors. In making
one of those observations, he had to murk that it was very singular
that Mr. Farrell should make this objection, when only three years
ago he had signed the deed of settlem nt, which expressly guaranteed
the direction being in London. The business of the bank had been
prudently and carefully arranged, and there was every advantage to
be derived from the direction being here, and a very good business
might be done in London. The only loss that had been incurred
had been suffered in the Dublin branch, and there was therefore
no necessity for the change.
Captain Cox, although he did agree with some of the observations
of Mr. Farrell, yet he could not assent to such an alteration of the
constitution as that which would ensue by the appointment of a
Dublin directory.
Mr. FARRELL suggested that there should be an increase in the
directory, so as to give a preponderance to Irishmen in the direction
of this bank.

Mr. Gumless thought there was a great difference between this
bank and the Bank of Ireland and the Provincial Bank, for they
were banks of issue, which this was n•t. These banks had been
highly valuable in eliciting the resources of the country, and in thig,
as an Irishman, he rejoiced. But the cases were differeut, and he
thought, that although the gentlemen in the London directory were
of the highest respectability and ability--no men more so—yet he
thought that a benefit would be derived by increasing the directory
In Dublin. Ile did not wish to do away with the London directory—
far from it ; but an increase might be made in the Dublin manage-
ment, and he thought it advisable that the directors here should meet
in private, and calmly and dispassionately consider what would be
the results of such a change. He knew that if this opening were
made he was aware that certain men of Milli. nce and property would
be ready to render their assistance and give an impulse to the con-
cerns which was likely to be of great service. But he was anxious
that no difference should be made, and he would therefore suggest
that Mr. Farrell should withdraw his motion.

A conversation then ensued, in which Mr. Guineas, the Chairman,
Col. Acton, rapt. Cox, and Mr. Farrell took part, in which it was
stated that an apprehension that the deed of settlement prevented
the giving of such a guarantee, and during which it was asserted by
Mr. Farrell that the last thing he desired was a dissociation from the
London board, but he did wish to have the whole of the bill depart-
ment left to the Dublin directors. During this conversation, also, it
was stated by Mr. Humphreys, one of the directors, that the only
losses which had been incurred on bills, was suffered from the bills
'.counted by the Dublin directors.
Mr. F. c. i,-;z9wN said that he was the oldest director present. He
had been present from the very first meeting, at which Lord Mount-
cashell pfe.3i tli!d, and he could say that the very principle and founda-
tion on which the BatfiC was that of having the directors
in London.
Mr. IcAltarm read a set of resolutions whit:: been passed at
a private meeting of the shareholders in Ireland, which went to ex-
press a desire on their part to make the chief directory in Ireland.
Ile had the power, from the proxies which he held, of carrying his
question, yet out of respect to Mr. Guineas, if he could obtain any
assurance from the directors on the point which he pressed on their
attention, he would withdraw his amendment.
After some farther observations from Mr. Brown, Mr. Farrell.
Captain Cox, Mr. Farrar, and the solicitor of the Company, the
amendment was withdrawn, and the report adopted and ordered to
be printed.
A dividend of 4 per cent. per annum for the half-year ending De-
ember 1, 1845, was then declared, and the purples ordered to be car-
ried to the Capital of the bank.

Thanks were then voted to the auditors, the directors, the secre-
tary, Mr. Perrctt, and the chairman, and the meeting, after Sir R.
Howard had returned thanks, was dissolved, it being understood
that the usual notice of a meeting of directors should be waived iu
order to meet the convenience of the gentlemen who had come over
from Ireland, and that a Board should be held this day to discuss
the matters which had been mooted at the meeting yesterday.

DISYMURNMENT OP THE NATIONAL GALLERT.—The
unsightly disfigurement at the east end still remains, and nu-
merous other long pipes have sprouted up in various parts of
the building. The continuance of the abominable deformity
to which we have already more specially alluded, will im-
peach the taste and good feeling of every architect acadetni-
eian.— The Builder.
Mr. John Wood, chairman of the Excise, had an in-
terview with the Chancellor of the Exchequer, yesterday,
at his official residence, in Downing-street.