The Sun.
London, England, 1846-05-28 00:00:00

.TION AL

" The directors have to congratulate the proprietors
on the result of the operations of the bank for the past
year, whereby they have been enabled to add 5,8671.
ss. 3d. to the Reserve Fund, after paying the two half-
yearly dividends, amounting to 18,7504
" The undivided profits at December,
1844, were.....
" Net profits for the year ending Decem-
ber, 1845 24,617 5 3

58,246 5

" Deduct half-year's dividend to
Midsummer, 1845 £8,750
" Do. do. Christmas, 1845 10,000

£18,750 0 0

"Leaving amount of undivided profits at
December, 1845 £39,496 5 1
" There are now to be elected four directors in the
room of Daniel O'Connell, Esq., M.P. ; Thomas Lamie
Murray, Esq. ; John Clement Ruding, Esq. ; and James
Reade, Esq., whose seats at the board are vacated by
rotation, and all of whom are candidates for the office,
and eligible to be reelected.
" Approved by the Court,
(Signed) " DANIEL O'CON.NELL, Governor."
The GOVERNOR—Gentlemen, it is now my duty, with-
out waiting to have it moved, to propose this report for
your adoption. You are to consider whether the report
now read is such as you should adopt, and you
are to act accordingly. The entire of it has been
already verified. We have, I think, done well, and
we have every prospect of doing better.—(Cheers.)
A call has been made upon the Proprietors, which has
been cheerfully and readily responded to. The entire
amount of the call was paid, notwithstanding the diffi-
culties of the times and the demands for money
from other quarters. We have increased our capital-
-we have increased our circulation—we have increased
our deposits ; and our reserved fund has been consider-
ably increased also. Under these circumstances,
I think we are entitled to call on you to
consent to the adoption of this report. I
have the profit and loss account before me as well as the
balance-sheet. We have subscribed no less a sum
than 4001. to alleviate the distress in the different
localities in which we have branches in Ireland. The
contribution has been readily made, and I am glad
it has now met with the entire sanction of the
Proprietors. The expenditure of this sum has
been carefully considered by the Directors ; the
various sums have been placed at the disposal
of the different beat committees to be distributed under
their immediate inspection. These gentlemen had con-
tributed largely to the funds, and we might, there-
fore, expect that they will exercise a due vigilance over
the proper disposal of them. The six new branches
which were opened have been productive, and
are likely to be eminently prosperous. I shall
now put the question that as many as are of opi-
nion that this report shall be adopted signify the same
by holding up their hands.
The question having been put, the report was unani-
mously adopted.
The SECRETARY then read the account of profit and
loss and the balance-sheet of the Company, which ap-
peared to be highly satisfactory to the meeting.
The GOVERNOR then said—Gentlemen, there are four
Directors that-go out by rotation. By the deed of this
Company no gentleman can be appointed for the direction
who does not give notice some days previous. There
has been no notice given. The retiring Directors are, I be-
lieve, desirous of being re-appointed if it is your plea-
sure that they should be so.
The SECRETARY then read the names of the retiring
Directors, after which
The CHAIRMAN said—lt is my duty to put the ques-
tion as to whether these gentlemen should be re-ap-
pointe d or not, and you will signify the same in the
usual way.
The retiring Directors were then declared to be re-
elected.
The Govaroton—lf any el:4
em
g observa-
tion to make,or
to do so. anything to state, has any
state, he is now at liberty
Mr. TERRY—I shall be very happy to avail my-
self of that privilege. I have heard with very great
pleasure the statement as to the prosperous condition of
the concern ; and that, of course, must give every one
very great pleasure ; but there is another circumstance
that is much more gratifying than that. It is the
circumstance of the Directors having subscribed to the
fund for the benefit of the distressed people of Ireland. I
think, sir, that is a subject upon which every individual
no matter whence he comes belonging to the United
Kingdom—l think every one, sir, must feele o
so.—
d
truly delighted that the directors have on
(Cheers.) We ought to know no distinction at all—
(Cheers)—in regard to the distressed individuals, and
I am glad the directors have taken that view of the case.
I think it might as well have been larger : there
may be crying circumstances that require a larger
sum to be contributed. I, as an individual—a very
humble one—connected with this concern, feel very
great pleasnre that the sum has been subscribed.
The GOVERNOR—There are many localities that re-
quire no assistance. I think it is a matter for the pro-
prietors to leave in the hands of the Directors as to whe-
ther they shall advance a larger sum or not. One great
object that we had in contributing was to stimulate the
gentry of the neighbourhood—(Hear, bear)—and the
advance was not too large lest they should consider it as
an excuse for them not coming forward themselves.
These are things which depend upon the circumstances
of each locality, and, if you please, you will leave this
matter in the hauls of the Directors.—(Hear, hear.) If
the sum do not answer, the Directors will take it into
their consideration whether they should advance a further
sum. It might be imprudent iF we were to give our
money to every locality. You will, therefore, please to
leave this matter in the hands of the Director; for that,
'
mee
I think, is the soundest policy.—(llear, hear.)
me Governor was on the point of dissolving the
ti wh,
Mr. WHEELER said, before the meeting separates I bee.
o thank you cordially, inthe name of the proprietors',
for the interest you have paid to our affairs. I need
say nothing further, except to request those present to
agree with me in a vote of thanks to the Governor and
Directors.

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N I s

F IRELAND.

The eleventh annual general meeting of the Pro-
prietors of the National Bank of Ireland was held yester-
day, at the Society's Offices, No. 13, Old Broad-street.
The meeting was numerously attended.
Among the directors and gentlemen present we
observed—
Daniel O'Connell, Esq., M.P., Gorernor.
A. P. Johnson, Esq.
F. B. Heushaw, Esq.
J. C. Ruding, Esq.
Charles Bianconi, Esq., Mayor of Clonmel.
Fowler Newsam, Esq.
T. Lamie Murray, Esq.
Captain Sir Burton Macnamara.
Dr. Fitzgerald, Carrick-on-Suir.
J. L. Wheeler, Esq.
W. L. Wheeler, Esq.
Charles Rule, Esq.
Thomas Shewell, Esq.
Joseph Wheeler, Esq.
The Very Rev. Dr. Magee.
Francis O'Neill, Esq.
Joshua B. Bacon, Esq.
H. M. Jones, Esq.
Edward Jones, Esq.
The Rev. Thomas Madge.
H. Surmon, Esq.
W. Wrentmore, Esq.
W. Terry, Esq.
Henry Vigne, Esq.
Augustus Vigne, Esq.
On the entrance of D. O'Connell, Esq., M.P., accom-
panied by the Directors, into the Board-loom, he was
received with every demonstration of respect. The
Hon. and Learned Member for Cerk appeared in excel-
lent health, certainly much improved since the opening
of the Parliamentary session.
D. O'Connell, Esq., the Governor, presided.
The CHAIRMAN rose and said—Gentlemen, I will call
on the Secretary to read the advertisement calling the
meeting.
N. S. KING, Esq., having read the advertisement,
The CHAIRMAN again rose and said—Gentlemen, my
next duty is to call on the Secretary to read the report
which is to be submitted for your consideration.
The SECRETARY then read the following
REPORT OF THE DIRECTORS OF THE NA-
TIONAL BANK OF IRELAND MADE TO
THE PROPRIETORS AT THE ELEVENTH
ANNUAL GENERAL MEETING, HELD AT
THE OFFICE OF THE COMPANY, No. 13,
OLD BROAD-STREET, LONDON, ON WED-
NESDAY, MAY 27, 1846.
" The Directors of the National Bank of Ireland have
much pleasure in meeting the Proprietors assembled at
this, the eleventh annual general meeting of the Com-
pany, and in submitting for their approval a statement
of the assets and liabilites together with the profit and ,
loss account of the Bank up to the 31st of December.
"In the last annual report the Directors alluded to the
proposed measures in regard to banking in Ireland, and
by the Act which came into operation on the 6th of De-
cember, the issues of each bank are definitively limited,
and any excess over the fixed amount must be repre- ,
sented by specie. The Act further requires returns of the
circulation and specie to be made weekly to Govern-
ment, and which are published monthly in the Dublin
Gazette.

"The Directors, with a view to advance the general
interests of the Company, deemed it expedient to aug-
ment the paid-up capital of the Bank, and a call of 5Z
per share was accordingly made upon the Proprietors,
payable in two moieties, one on the 15th of October and
the other on the 15th of January, thereby increasing
the paid-up capital of the Bank to 450,0001, and,
although the first instalment of 50,0004 did not become
payable until the 15th of October last, the shareholders
received the dividend thereon for the full half-year from
the 30th of June to the 31st of December.
" The potato crop in Ireland last year sustained a
general blight, and the deficiency is this staple provision
of the great mass of the people has consequently led to
much suffering and destitution ; the directors have,
therefore, considered themselves called upon on an occa-
sion like the present, to contribute liberally to the funds
which have been raised for the purpose of alleviating the
existing distress, and in the performance of these bene-
volent acts they are confident of having the cheerful con-
currence of the shareholders.