The Sun.
London, England, 1834-05-09 00:00:00

PROVINCIAL BANK OF ENGLANIIS.

The first yearly general meeting of the Provincial Bank
of England was held yesterday in the London Tavern, at
twelve o'clock, to receive the report of the directors.
The meeting was most numerous and respectable. Pro-
prietors from Birmingham, Manchester, Worcester, Li-
‘7,,rl)(4, Gloucester, Yorkshire, and all parts of the king-
"",in, were present. We also observed amongst the pro-
trrietors Lord Charles Fitzroy, M.P., Colonel Hanmer,
1.P., &c , B.:c.
The Hon. D. G. HALLIBURTON,M. P., moved that Mr.
Robinson, M.P.; be appointed Chairman of the meeting.
Another PROPRIETOR whose name we could not learn,
proposed that Mr. Halliburton be called to the chair.
, Mr. HALLIBURTON felt gratified for the honour done
himi by the gentleman who had proposed his name; but as
there was so much difference of opinion among the di-
rectors on certain points, he begged to decline being put in
nomination. Mr. Robinson, he was sure, ought to be
preferred to any gentleman. He was certain that whoever
should be elected Chairman would do full justice to every
gentleman who might address the meeting.
A DIRECTOR stated that an understanding had been
T'lle to among the directors, that whoever was their
ee should be the Chairman of the General Meeting.
ale therefore
‘le therefore trusted that- the gentleman who had pro-
I",-°,!ed, as an amendment, that Mr. Halliburton take the
chair, would see the propriety of withdrawing that
alendment.
L.Col. LEITH HAY, M.P., had suggested to the directors
C2re coming into that room, that his friend Mr. Halli-
"on should be chosen Chairman ; but as he found the ge-
neral opinion among them to be, that in all the circum-
'4tances Mr. Robinson would make the best Chairman, he
Lid not press the thing. Now however, that gentleman
:'44CI duly proposed, as an amendment, that Mr. Hallibur-
'en be appointed Chairman, he trusted that gentleman
weal(' not withdraw his amendment. He (Col. Hay)
would
support it.
the PROPRIETOR thought that the meeting was making
aPPointment of a Chairman quite a party question.
(C •
a, ries of " No, no.") He knew little of either of the gentle-
-;ell proposed, but he had seen Mr. Robinson preside at
- Public meeting lately, and he must say, that no gentle-
'nail could
have filled the office of Chairman more ably
prernPartially or more to the satisfaction of the persons
ent. - '
'everal gentlemen here asked, whether there was not
:•bastanding clause, in the deed of co-partnery, which stated
at t, the Chairman of the Directors must also be Chairman
tlue general meeting of the proprietors?
lr. LAMIE MURRAY, the secretary to the Company,
said there was no such clause.
Robinson The question was then put to the vote, whether Mr.
nor Mr. Halliburton should be Chairman, when
there appeared a large majority for the latter gentleman.
The CHAIRMAN after briefly stating the objects for
Which the meeting ;vas called, then desired the Secretary
to read the report.
The report, which is as follows, was accordingly read:—
" Although active steps were not taken to establish this
Company until the month of April, 1833, yet its formation
Was contemplated in the year 1830.
" The act of 7th Geo. IV. cap. 46. passed in 1826,
permitted the formation of joint-stock banks at any place
exceeding 65 miles from London. The act of 1833, while
It authorises the formation of banks of deposit within that
range, excludes banks of issue beyond 65 miles, from car-
Ylng on business as bankers in the metropolis. The Na-
altollbli Provincial Bank of England has therefore been
established under the provisions of the act of 1826.
t," A National Banking Establishment had long been
"'light desirable, and the proposal of such an institution,
sanctioned by high authorities, as one which would afford
sources
40Irlidity to banking operations, concentrate the great
pen
r,;es of credit on which the success of banking must de-
d,basis of security wideri and from the amount of its aggregate capital, afford
to the public than could be ex-
ti
peet
lei!" from private partnerships, however respectable, on
limited resources of local joint-stock banks.
thhese were the views which led to the formation of
toe th first committee in 1830, and ultimately in the last year
roen e Public announcement of a metropolitan establish-
, t, by the committee under whose auspices the corn-
t'llY has been formed.
late` The committee, on its formation, took immediate
to i'tres to ascertain the support the public was disposed
ap,:Lve the undertaking, and having selected respectable
qiirltes in different parts of the country, through whom in-
to, s as to their views might be fully answered, a pro-
th--,tlls was issued at a meeting of the committee held on
oth April, 1833.
pi" The prospectus was inserted in all Ilie leading news-
shares in the kingdom, and numerous applications for
were the result.
gra" The applications having exceeded the number to be
or, led, the intention of the committee to close the list
vitt the 13th June was duly notified to the public. The
t b°,:°, number of shares applied for amounted to 13,168;
e"lose shares reserved for the directors' list not having
ki_en taken, the whole number of shares assigned was
1Z9V... Out of this number the deposit of 51. per cent.
hasn paid on 7,815 shares, and the deed of settlement
Thirst execnted
earsl proprietors, holding 7,464 shares.
would appthat 351 shares, on which the de-
gi,te °f 5/. per share has been paid, yet remain to be re-
red.
f 4 IN, e
fornig, Preliminary steps succeeding, and the company
para.*, the Present directors were nominated, and the pre-
, c i4_, of the deed of copartnership commenced.
e need of copartnership, embracing operations of such
xtent and
precise . magnitude as the National Provincial Bank,
rily involved mature deliberation. During the
teat of the deed of settlement, however, questions of
otl.cat
1 importance arose as to the_powers to be included in
stip On this head great difference of opinion existed, and
lard continues. The effect of these discussions was to re-
the completion of the deed of settlement, and it was
not until September that it was finally engrossed, and
ready for the signature of the proprietors.
, " About the beginning of October measures were taken
11 the Directors for the formation of Branches at Glou-
cester and Birmingham. A Branch at Gloucester was
'piked on the Ist of January, 1834. The opening of the
ranch at lirmingham has been, in the first instance, de-
,..?'da by the nature of the negotiation, which, however,
iZete last abandoned. The probability of its completion
the I: the Directors, on the 20th of'December last, from
make aroount of capital required for that Branch, to
a call upo
The Directors n the proprietors for 10/. a share.
actively mesas in Birmingham, and preparations are
town" At pakreemogn f1092r the immediate edhatete
boepeenninsgubosfcrthibaetdß. Branch.
agrieuli_rwell situated as regards the iron trade, and an
on ti,,,
_LI_ al district. A Branch was opened at that place
~ .;,..4ith of March.
Waisa-conre being
.every prospect of a Bank succeeding 'at
the 14th in
of
April
wasrdshire, one opened at that place on
At -‘7,7
agree 4 otton-under-Eilge strong and influential parties
ill4nit : support a Branch of the National Provincial
.I„alre 4, England, if established there. The Directors
iottg„ itelinced their intention of opening a Branch at
"4,0 d. 'llll‘d shares have been taken in that neighbour-
ZINN: .lanager has also been appointed, and a house
'ger The Directors will be enabled to open a Branch
inters. nctliately.
orr
estco, in Lincolnshire, and at Wisbech, it is the
nler pia "l the Directors to open Branches. In the for-
kill opectlein? preparations are so matured, that the Bank
hn`r Place in the course of the present month. At the lat-
17ell the' the difficulty of procuring suitable premises has
'ranch only obstacle. it is, however, probable, the
46 r.,,,open at Wisbech in June.
sliarlelle call of 10/. per share remains unpaid on 1,217
" The
,yeas
of arrangements for the London Office are in pro-
strn completion, and a house,
1.,..`4. has been taken at a No. 50 and 51, Broad-
crate rental, and in every
Peet believed to be sui
to " The' Dire the uses of the Company.
airs refer ttheefirnpr proprietors to the item in the
!etount of 4857: fis: advanced to
Tipenses in forming the Company- previous
on account of
4Prl 1833• They h -'P 1 , • ave also advancedrons to the Ist of
on loan 9 250/ at
jiltte:i cent. to the same gentleman, being the d Po' 't a.and
horn nient on 150 hares held by him, ana secured stio the
it Parry against the above advance.
1,,,,:3 he Directors refer the Proprietors also to the annexed
by ::‘'.t6, which exhibit the present state of the Company .
Mg, illeh it will be seen the amount of expenses (advertis:
ti; le Daw charges, travelling expenses, salaries, &c. 1
,s up to
tog j'r,e3ellt day, do not exceed 3,358/. Bs., notwithstand-
llipeltensive ramifications and enlarged objects.
NATIONAL PROVINCIAL BANK OF

ENGLAND.
11/Pos' Dr. £ s. d.
iltistalrillt4.s/. per Cent. , X399°751101,545 0 0
'iteres, •" of 10/. per Cent 62,470
gce ....................................... 1,516 11 4

4 £103,061 11 4
eBtrn Cr.
,ent, cash , Banks, • ,
40_ the t'
—"at and advance to
, t
,lom,its jos_,. 97,017 17 4
eed tuonr,i„ on his Shares 2,250 0 0
(4,llll,NeAreraireoduiersltlo.,;:hler• Joplin for expenses in-
rmlstath.i,o_nrcilf, the Company
Company
expenses r".
- 435 6 0
. 3,358 8 0

Sir li 4/03,00.1 11 4"
44'1, opted,,lL 1. IA 1 C r y moved thlt the repo.rtuihe
iti7lo4:l?"lYgtth,e_Mie.etins; andA that it be printee. for Ciro a:
He congratulated the meet-
to
e. me uri...7 piopriotors. .
nef St ara,:nirnity of opn and feeling which seemed
ha' so satiqf, 1 the gentlemen presen. The report was
_,lre be,
,;e,-,ory as, under all the circumstances, could.e
:"-oitor :;,,"'soed ; but he trusted that by next year th
-.llscoeairoa- n7e".e' of the account would have a more favourable
i''
W.4el 4iTH H seconded the motion of his friend,
Mr Ka
"
th •I't • Y.
11, ade,„l'l Arta wished to impress on the meeting, before
''' adv`"`e" tile report, that the adoption of it would confirm
Tli,, Lees made to Mr Joplin.
Ateil:,..t,i°4 was then *put, that the report should be
' "ken it was carried un=imously. •