The Sun.
London, England, 1856-07-10 00:00:00

cmygtEßßußY HALL, Westminster-road.
—tfrENT VERY EVKNING.—The celebrated HUNGA-
r.,BANG, under the direction of Herr KALOZDY, will per orm
t"l7 i'cl2rOng at 9 and 11 o'clock, in addition to, the usual Vocal
..ntertahirrient ' The following company of talented Vocalists are
I,,errnanent engaged for the performance of Selection% from all the
opular Otarp%, Madrigals Choruses, Duets, &e., viz. :—M s J.
Bruoel, Miss Sommers, and Miss Pearse; Mr. J.
ilaulfield,,cierr F. Xonghmans S. Jones, T. Farrant, .r. Matta, W.
Russell Grover. and P. Corrie; Masters E. Con-
'miner, and Bennett; Mr. R. Glindon, Mr.C. Sioman, and Mr.
„"'alpf Pianoforte Mr. J. Harroway, R.A. , harmonium,
„. au el , jun.; &rector, Mr. J. Caulfield. Commence at seven
clock pri,Fisely, Suppers, &c., until twelve o'clock.

.i-i--,:r.---1 - •
Art. N• f K of LONDON.
- 411111", Ih‘ad :Banking-house, Threadneedle-street.
, llharing-cross Branch, No. 450, West Strand.
41,-4t'a NERAL MEETING of the Shareholders, held at
e ,Load n Tavern, Bishopsgate-street, on TUESDAY, the
July 856,,
,
60i
-
SirPRESENT,
j N VILLIERS SHELLEY, Bart., M.P., in the Chair.
John OHN GRIFFITH FRITH, Esq., Vice-Chairman. •
,„ Edmund Anderdon,Esq. Charles Joyce, Esq.
`-)1. Win. Elsey, H.E;I.C.S. • Thomas Luce, Esq., M.P.
...Thomas Gooch, Esq. Henry Morris, Esq.
Jeremiah Greatorex, Esq. Sir Henry Muggeridge, Al-
fleX.' Constantine lonides, . Berman.
Esc , Alfred Wilson, Esq.)
And upwards of two hundred proprietors.
After authentication of the Register of Shareholders, by
41axiDg the common seal of pa Company,- the following Re-
port was read by the Secretary :
IP " The Charter of Incorporation granted to the Bank pro-
'rides that the accounts be made up to' the 30th of June and
the 31st of Decenaber in each year. The Bank having com-
menced business en the 22d of August, 1855, the first set-
tlement of the accounts took place on the 31st of December
in that year, but the_time which had then elapsed since the
°Penipg was too brief to render it desirable to call the pro-
prietary together at-that period.
of Ten month have now passed since the commencement
business, and the Directors have the pleasure of meeting
the slaarcholders to present their first report, with a state-
latent of accounts to the 30th of June, 1856.
t• ThoViogress which the Bank has made in the acqnisi-
ion of business has been most satisfactory, whether it be con-
sidered in reference to the amount of that business, or its
!t_ead and continued increase-to.the present time. On the
het Of December, 1855 (i. e., after four months' trading),
amount due by the Bauk on current and other accounts
/3Pas 4.11,941, 10s. 10d. ; thee months laer, viz., on the
Ist of Marc6h, 1856, the amount stood at 1956,9081. 3s. Bd.,
Whilst on the 30th of June, 1855, it amounted to 1,401,2591.
12s. 10d.
' •
that,
(4
The accounts now presented to the shareholders show
!o after payment to customers of a sum *1'19,586/. 28 ld.
r,er interest allowed on their balances, there remains a sum to
," catried to ' profit and loss' of 37,4171. 15s. 7d. ' The ap
"'.oPriation of this amount has received the attentive cousi-
d ra •
e, Lou of the Directors.
. 'AY the charter pf incorporation they are required to form
;reserve or guarantee fund, to guard against contingencies,
ac,(l are
~, an Powered, if they shall see fit, to abstain from de-
PT',.'ng any dividend for the first year, and to carry all the
")uto to the reserve fund. Looking, however, to the satis-
fa_et°7 commencement which has been made, the Directors
theeel it is not necessary to resort to the precaution of reserving
whole of the first ear's_ profits; at th. 3 same time "they
_traire-to act with all due caution in making the present ap-
P!°Pl:iation ; and after mature deliberation they have arrived
at the following conclusions, which they have the satisfaction
toannounce to the sharehollers. -,
. ..t has been resolved that out of the sum of 37,417 15s. 7d.
l'uarried to profit and loss account, there be appropriated tb,,
f 41qf 6,7201.12 s 7d for current expenses, income tax, and
2r oad and doubtful debts ; that 6,2651. 12s. sd. be carried
'_•,O profit and loss new account, as rebate of interest on bills
discounted not yet due; that,. 1,000/. be applied towards
the off preliminary and, building expenses ; that out of
L_Le gum remaining there Jae .now paid a dividend after the
;re of 51. per cent per annum (free of income tax) from the
teAr the commencement of business ; that 8,0001 be ap-
plied_ as
the basis of a reserve fund, and that the balance,
2,568/. 10s. 7d., be carried forward to account of next half-
Year,
" The Charter also requires that the auditors now to be
elected by the proprietors shall be allowed 23 days for the
Perfqrmance of. their duties, and an adjournment of the meat
ing Will consequently be necessary. As it will be obviously
e,eUv.enient that in future years the audit of the accounts
Znoohl precede the declaration of a dividend, a resolution will
I,ue, sabmitteci to the mee ing for their approval, enabling the
b.,'"'iroOtors to call the Annual General Meeting at some period
T„'"eil the 1 st_. and nth August in each year, by which
—eaPs the accouitsfto. the 30th June annually may be pre-
sented to the -shareholders, duly certified by the auditors ;
!licit, an arrangement is impracticable on this occasion,
lii e°osequence,of the provisions of the Charter requiring the
•erst.meeting to be held before the 10th July, 1856.
a," The three Directors who will retire in compliance with
h;as Provisions of the Banking Act will be Jeremiah Greato-
-48,1., Charles Joyce, Esq., and Henry Morris, Esq. ; as,
however an adjournment of the meeting is necesiary for the
411)4erPnt shall
ireviously stated, it is not proposed that such retire-
take effect until the adjourned meeting.
n"1It is the intention of the Directors in future to declare a
addenhalf-yearly; provided the profits of the Bank shall
d_49 them in so doing, the final appropriation of the year's
Profits being deelared after the 30th June, in each year.
ti "It is gratifyiug to the Directors to acknowledge the ac-
vo and very beneficial co-operation of the shareholders in the
continued
of business, and the Directors, relying upon such
en. eXertiona assure the proprietors that their best
ofetrifies shall be devoted to making a safe and profitable use
e resources of the Bank.

_
% BANK OF LONDON.
Liabilities and Assets. 30th June, 1856.. , Dr.
To capital-paid up ...... .
... £300,000 S 6
b Amotitifarte 4.1-the Bank on Current and ' Deposit Accounts .. _1,363,841 11 3
......... •••••• .• ), Amount carried to credit of. "Profit and
Loss'' ..kccount (after payment to cue-
touters' of 19,5861. 2s. ld. for interest on 1
their balances). '37,417 15 7
.
- . .

IrY Investments, viz. ;
In Government Securities £312,050 9 11
In Other Securities
.. 24,087 18 7
...

£1,701,259 12 10

£336, 8 6
/Y2llllB discounted and Cash Loans, 1,285,424138 15 3
~ Bank Preinises,threadneedle-st (Freehold) 61,500 0 0
Building Eictertses, Furniture, Fittings,
&c.,-Threadneedle-stredt, and Charing-
sci
cro
£7,809 14 0
r" hary Eipenses' viz.,
Deed of Settlement,Char-
ter, Advertising,- dm 7,386 15 1

15,196 9 1

..,~

, • , .£1,701,259 12 10
,- t 1 • PROFIT AND :LOSS ACCOUNT.
. , .. .
Toed Dr'
cut expenses, bad and doubtful debts, -
I
• Come tax, die ti
23,720 12 7
4 bate of interest on billg discounted not
4 t due, carried to profit and loss new : .
: count
)) countwritten off building and prelimi-
.
fry expenses
1,000 0 0
), , lividend at the rate of 51. per cent. per
1, ' 11
bunt carried cfra°rl:arietdheto°PreesilLuvliCe 4)fuf JO 0 0
nthde Bank ... 12,86380 0 0
)). appropriated profits carried forward to
i
-,,. ext halt-year 2,568 10 7

Or.
R 37,417 15 7
•
By. Balance brought down . £37,417 15 7
„r Tho report buying been read,
It Esq.,
moved by the CHAIRMAN, seconded by SAMUEL SUGDEN,
'-et'cl.. supported by Mr. THOMAS BROWN)! and JAS. HUGHES
ANDERDON Esq., and carried
nePy uly :
" ea
That the report now rd benanimous received and printed, and a
sent to each Proprietor."
rThe Chairman then announced that the dividend would be
able on and after-Tuesday, the 15th instant, at the lead
nThe
alcng House, in Threadneedle-street.
whenitnwaieesting then proceeded to the election of Auditors,
Me vecl by JAMES HUGHES ANDERDON, Esq. ; seconded by Isue
Wtseme.x, Es • and resolved unanimously :
That three auditors b© e now appointed ; that they be paid
uponthe sum
Of twenty guineas each for each half-yearly audit
the accounts being examined and signed ; and that in
4011t1;etvv?ste ,of, any auditor becoming bankrupt or insolvent, or
1%, disqualifying, his place be filled up at the next en-
emfoeemtoiwinng, ;whether such meeting be special or general.
auditor, shareholders were nominated for the office of
Clarke, 'viz., Charles Whetham, Samuel Emery, Robt. Porter,
G4irge Thomson, John Johnson, and William Tredway
and
It JohEif J 4". ; and a show of hands being taken, the Chair-
Man declared Robert Porter, Esq., George Thomson, Esq.,
ohnson, Esq., duly elected.
as moved by EDWARD TYRRELL, Esq., City Remembrancer;
and seconded by ROBERT PORTER, Esq., and resolved una-
nimously
That the best thanks of this meeting aro due to the Direc-
tors for their judicious and successful administration of the
ifttirs of the Bank, and that the sum of 2,5001. be appro-
Priated for their remuneration during the past year, and that
..3:ne9(10/.•per annum be paid to them in future, until it shall be
trwise determined by the proprietary.
It was resolved
•n, • unanimously—That the thanks of the meet
sbe tendered to Sir M John Villiers Shelley, Bart., P., for
It was
his able and impartial conduct in the chair.
resolved unanimously—That the thanks of the meet-
tng be given to Matthew Marshall, jun., Esq , Manager, and
etl3, enjamin Scott, Esq. Secretarv, for the zeal and ability
w ch they have exhibited in the Performance of their duties
to the Bank.
It was then moved by the- CHAIRMAN ; and seconded by W.
G. B. GUNTON Esq :
That this meeting be adjourned until the e Bth day of August,
at 12 o'clock precisely, to receive the report of the auditors
pros
the accounts now submitted to the proprietors, and to
proceed with the remaining business of the meeting.
f, Ilhe Meeting was then declared adiourned accoiclingly.
a ' 4; (Eztracted from the minutes.)
b.::i,, - BY.A.NJ AMIN OCOTA Nscratarb

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