The Sun.
London, England, 1851-01-16 00:00:00

LONDON and WESTMINSTER BANK
Tha annual general meeting of the proprietors of
the London and Westminster Bank was held yes-
terlay, at the Banking-house, in Lothbury ; Mr.
Henry Buckle, chairman of the beard of directors,
in the chair.

Tne advertiseignent convening the meeting hiving
been read, the minutes of the preceding meeting
were confirmed, and the annual general report of the
directors was then submitted to the proprietors, as
follows :

From the statements attached to this report, the
shareholders will perceive that the net profits of the
bank, during the last half-year, amount to 33,923/.155.6d.
Out of these profits the directors now declare a divi-
dared at the rate of six per cent. per annum.
They also declare a bonus of six shillings per share,
being equal to one and a half per cent. on the paid-up
capital.
Aft,r these payments are made, the surplus fund will
amount to 100,1071. 12s. Id.

The three directors who go oat by rotation are
William 1-laig,,b, Esq., jomph Esdaile. Esq., and John
Stewart, EN., all ot whom being eligible offer them-
seivei for re-eieCtioll.
LONDON AND WESTMINSTER BANK, DEC. 31, 1850.
£ s. d.
To Propr:etors for paia-up Capital... 1,000000, 0 0
To Amoun: due by the Dank f,r 11c-

n rice, CL:cuiar N‘qes,
To Rest or Surplus.Fan4l ,

3.969,618 15 11
111,183 16 7
33,923 15 6

t 11<- ht,st enr
To tie: Pro se ~1

£5,114.756 8 0
s.d.

By G.,verniottflt Stock, Exchequer
Bina, and Inlia Bonds 1,089,794 16 5
By other Sec irities, including Bills
discounted, L pans to Customers, 84c. 3,438,922 4 7
By Cash hand •• •.. 566,039 7 0

£5,114,756 8 0
PROFIT AND Loss, 31sT DECEMBER, 1850.
Dr. a.
To Total Expenditure of the Six
Establishments, including Rent,
Taxes, Salaries, Stationary, &c.
To Payment of the Dividend now
declared, at the rate of Six per
Cent. per Annum, for the last
Hal'-year •• ~, ... 30,000 0 0
To Bonus of Six Shillings per Share 15,000 0 0
Tu Balance of unappropriated Profits 100,107 12 1

19,154 1 2

Cr.
By Balaneo of unappropriated I'rofit4,
on the 3U'h June, 1850
By Gross Profits of the last Half-
)ear, after paying tho Income-tax
and making provision for all bad
and doubtful Debts... ...

£164,261 13 3
.£ s. d.

111,183 16 7

53,077 16 8

£164,261 13 3

By Balance of unappropriated Profits
brought down .•• •., £100,107 12
The CHAIRMAN in moving the adoption of this report
took occesion to observe that the directors hoped the
details of that document would give universal satis-
faction. He was sure that pleasurable feeling would
be increased when he told them that the bonus had
been unanimously agreed on by the directors, and
could be paid without in any way impairing the efli-
cieney of the bank, which he was happy to say was
never in a more sound or prosperous condition. It
was, now some four years ago since the bank declared
a bonus, and it would perhepe not be out of
place if he took this opportunity of reviewing the
events which had occurred in the ioterval. The year
1847 opened with every indication of coming pros-
perity; but before the summer passed away
the country was overtaken by a panic, which para-
lyzed trade, and which, even up to this very day, had
left its baneful effects to he felt in the commercial
world. No sooner was that struggle got over, than
the French revolution fell upon Europe like a thun-
derbolt, and ever since the continent had remained in
a state of chaos and warfare, sadly reducing the value
of money in which they dealt, and entirely destroying
a large portion of the British trade ; and yet, in spite
of alt these obstacles, the bank had been able to main-
tain its six per cent., while, if they turned from the past
to the presellt, there was every reason for believing that
the future was pregnant with hope and promise.
The branchee of the bank were suceessfal and exten-
sive in their operations, and though they were shut
one of the advantages attendant upon the clearance
system, they were still in a position, and likely to
continue so, to carry on an honourable and straight-
forward competition with the friends in Lombard-
street, who, he trusted, would ere long see the justice
and expediency of changing their bearing towards
this escablisbutent. Lie could not resume his seat
without acknowledging the energy, industry, and
ability which their officers and managers devoted to
their service, and to which must be attributed a con-
siderable portion of the bank's success, and expressing
a hope that the proprietors would join with the direc-
tors in thanking the executive staff for the zealous
and untiring exertions which they always displayed
in conducting the daily business of the bank, he
should sit down fully convinced that the meeting
would as freely and heartily pats the motion he had
just made.