The Sun.
London, England, 1870-02-12 00:00:00

LONDON AND COUNTY BANKING
COMPANY.
Established 1836. -
Subscribed Capital—X*2,soo,ooo, in 50,000 Shares of
£5O each.
Paid-up Capital—£l,ooo,ooo. Reserve Fund—£soo,ooo.
DIRECTORS.

Nathaniel Alexander, Esq. Frederick Harrison, Esq.
ThomasTyringhamßernard, Lord Alfred Hervey.
Esq. Wm. Champion J ones, Esq.
Philip Patton Blyth, Esq. Edward llarbord Lushing
John Wm..Burmester, Esq. ton, Esq.
Thomas Stock Cowie, Esq. James Morley, Esq.
Frederick Francis, Esq. William Nicul, Esq.

GENERAL MANAGER.
William M'Kewan, Esq.
CHIEF INSPECTOR.
W. J. Norfolk, Esq.
INSPECTORS OF BRANCHES.
H. J. Lemon, Esq., and C. Sherring, Esq.
CHIEF ACCOUNTANT.
James Gray, Esq.
SECRETARY.
F. Clappison, Esq.
Head Office-21, Lombard-street.
MANAGER.
Whitbread Tomson, Esq.
ASSISTANT MANAGER.
William Howard, Esq.

At the Annual General Meeting of the Proprietors, hold
on Thursday, the 3d February, 1870, at the City Terminus
Hotel, Cannon-street Station, the following Report for
the year ending the 31st December, 1869, was read by the
Secretary.
WILLIAM CHAMPION JONES,'Esq., in the Chair.
In presenting the Proprietors the Balance-sheet of the
Bank for the half-year ending the 31st December last, the
Directors have the pleasure to report that, after paying
interest to customers, and all charges, allowing for rebate,
and making provision for bad and doubtful debts, the net
profits amount to £87,669 19s. 10c1. This sum, added to
£6,225 17s. 7d. brought forward from the last ac ount,
produces a total of £93,895 17s. sd.
The usual Dividend of 6 per cent. for the half-year is
recommended, together with a Bonus of 2 per cent., both
free of income tax, which will absorb £85,000, and leave
£8,895 175.5 d. to be carried forward to profit and loss new
account. The present added to the Juue dividend will
thus be 17 per cent. for the year 1869.
The Directors have to announce the retirement of John
Fleming, Esq., from the Board, and the election of Ed-
ward Harbord Lushington, Esq. in his stead.

The Directors retiring b rotation are—
FREDERECK FRANCIS, Esq.,
THOMAS STOCK COWIE, E•q.,
and
FREDERICK HARRISON, Esq.,
who, being eligible, offer themselves for re-election.
The Dividend and Bonus (together £1 14s. per share),
free of income tax, will be payable at the Head Office, or at
any of the Branches, on and after Monday, the 14th inst.

BALANCE-SHEET OF THE LONDON AND COUNTY
BANKINti COMPANY, 31sT DECEMBER, 1869.
Du.
To capital paid up £1,000,000 0 0
To reserve fund.. 500,000 0 0

To amount due by the
Bank for customers'
balances, 8tc.....--£13,305,679 14 10
To liabilities on ac-
ceptances, covered
by securities ...... 2,068,856 17 11
--- 15,374,536 12 9

To profit and loss ba-
lauco brought from
last account
To gross profit for the
half-year, after mak-
ing provision for bad
and doubtful• debts,
viz.
--- 256,704 3 7

6,225 17 7

L 17,131,240 16 4

CR.
By cash on hand at head
office and branches,
and with Bank of
England .£1,995,538 14 3
By cash placed at call
and at notice, covered
by securities
3,841,562 10 4

Investments, viz. :
By Government and
Guaranteed Stocks 1,370,628 0 7
By other Stocks and
Securities 61,073 10 4
--- 1,431,701 10 11

By discounted bills and
advances to custom-
ers in town and
country 9,402,260 8 8
By liabilities of cus-
tomers for drafts ac-
cepted by the bank,
as per contra
11,471,117 6 7

. .
By freehold premises in Lombard-street
and Nicholas-lane, freehold and lease-
hold property at the branches, with
fixtures and fittings
By interest paid to customers 44,416 3 7
By salaries and all other expenses at head
office and branches, including income
tax on profits and salaries

£17,131,240 16 4

PROFIT AND LOSS ACCOUNT.
DR.
To interest paid to customers, as above £14,416 3 7
To expenses, as above lOl,lOl 0 7
To rebate on bills not due, carried to new

account
To dividend of 6 per cent. for the half-

17,291 2 0

Toy bonus of 21 per cent.
To balance carried forward

60,000 0 0
25,000 0 0
8,895 17 5

£256,704 3 7

CR.
By balance brought forward from last
account
By gross profit for the half-year, after
making provision for bad and doubt-
ful debts 250,478 6 0

.£256,704 3 7
We, the undersigned, have examined the foregoing
Balance-sheet, and have found the same to be correct.
(Signed) WILLIAM NORMAN,} Auditors.
R. H. SWAINE,
London and County Bank, 27th January, 1870.
The foregoing Report having been road by the Secretary,
the following Resolutions were proposed and unanimously
adopted :-
1. That the Report be received and adopted, and printed
for the use of the Shareholders.
2. That a Dividend of 6 per cent., together with a Bonus
of 21 per cent., both free of income tax, be declared for the
half-year ending the 31st December, 1869, payable on and
after Monday, the 14th instant, and that the balance of
£8,895175. sd. be carried forward to profit and loss new
account
3. That Frederick Francis, Thomas Stock Cowie, and
Frederick Harrison, Esquires, be re-elected Directors of
this Company.
4. That William Norman, Richard Hinds Swaine, and
William Jardine, Esquires, bo elected Auditors for the
current year.
5. That the thanks of this Meeting be given to the
Board of Directors for the able manner in which they have
conducted the affairs of the Company.
6. That the thanks of this Meeting be presented to the
Auditors of the Company for their services during the
past year.
7. That the thanks of this Meeting be presented to the
General Manager, and to all the other Officers of the Bank,
for the zeal and ability with which they discharged their
respective duties.
(Signed) W. CHAMPION JONES, Chairman.

The Chairman having quitted the chair, it was resolved,
and carried unanimously-
8. That the cordial thanks of this meeting be presented
to William Champio❑ Jones, Esq., fur his able and cour-
teous conduct in the chair.
(Signed) 'WILLIAM NICOL,
Deputy Chaii man.
Extracted from the Minutes.
(Signed) F. CLAPI'ISON, Secretary.

T ONDON AND COUNTY BANKING
COMPANY.

NOTICE IS HEREBY GIVEN, That a DIVIDEND
on the Capital of the Company, at the rate of 6 per cent.
for the half year ending 31st December, 1869, with a
BONUS of 21 per cent., will be paid to the Proprietors
either at the Head &flee, 21, Lombard-street, or at any of
the Company's Branch Banks, on and after MONDAY, the
14th instant.

By order of the Board.
W. hi'KEWAN, General Manager.
21, Lombard-street, Feb. 4, 1870.