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

10,500 0 0

£54,788 3 6
Cr. X. 8, d.
By balance brought down ... 45,848 4 7
By undivided profit brought forward
from the last half-year

8,939 18 11

£54,788 3 6

The CHAIRMAN moved the adoption of the report
and confirmation of the accounts, and at the same time
declared the dividend on the paid-up capital, amount-
ing to 600,0001., with the 3s. 61 bonus in addition.
Mr. W. BOROUGHDALE complained that the Ex-
chequer-bills were over-valued. Ile was not satisfied
with the general result of the bank's operation, nor
did he think it wise to continue increasing the gua-
rantee fund ad infinitum.
The CHAIRMAN said the directors were well pleased
with the present state of the bank ; its business was
steadily progressing, and when allowance was made
for the higher rate of interest which prevailed in 1849
over that of 1850, no one could dispute that the past
year's operations had proved successful beyond ex-
pectation. With regard to reducing the guarantee
fund, he for one could not approve of such a pro-
ceeding, as the stability of the bank depended upon
its maintenance, though he did not mean to say that
there was no limit which it ought to exceed.
A PROPRIETOR asked what was the amount of the
one per cent. paid upon customers' balances.
The CHAIRMAN said it amounted to about 10,0001.
per annum. The Exchequer-bills nnd bonds which
the bank held as securities were, of course, valued at
the current rate of the day, which was subject to con-
tinual fluctuations.
The motion for the adoption of the report was put
and carried.
On the motion that the retiring directors be re-
elected,
A PROPRIETOR said it would obviate a motion On
the subject if the directors would hold out a hope that
the guarantee fund should nut be carried beyond
150,0001.
The CHAIRMAN thought it would be wiser to wait
till they got to 150,0001. before discussing how the
fund should be dealt with.
A PROPRIETOR was at a loss to perceive what
advantages the shareholders obtained from the gua-
rantee fund:

A DIRECTOR reminded the proprietor that it
secured the stability of the vstablishment while it
took little or nothing out of the pockets
of the shareholders, for it was made up of fractional
parts of sixpences, which could not be divided, and
the interest which annually accrued upon the total
amount.

A PROPRIETOR—At what rate is it increasing?

The CHAIRMAN replied that it was accumulating a,
the rate of 4,000/. per annum.
The motion for the re-election of the directors was
then agreed to, and thanks having been voted to the
Chairman, the meeting terminated.

FATAL ACCIDENT AT THE TRAVELLERS CLUB
HousE.—Yesterday, an inquest was taken by Mr. Bedford,
at the Charing-cross Hospital, on the body of Michael
Flanagan, aged 22. The deceased had been at the works
now going on in the Travellers' Club House, Pall-mall, and
on Friday afternoon he and tour others were going on as
usual, when the foreman observing they had been drinking
desired them to go home. The deceased had got to the top
of the building and was going down a very high ladder, but
the foreman suggested a Letter way by which he had come
up by a ladder only twenty feet high. The deceased as-
sented to this, and was missed among the scaffolding, but
was soon found lying on the stone tlocring in an insensible
state, and bleeding profusely from the ears. He was taken
to the Charing. cross Hospital and died the next night, never
having been able to speak. On a post merlon examination
of the body it was found that the skull v. as fractured from
ear to ear, and there was laceration of the brain by the bone.
The foreman thought if the deceased was incapable of work
he ought to have been assisted down the ladder. The jury
then returned a verdict of " Accidental death."

THE WINDOVI,TAX.—We think there are znany
worse taxes than that of which a correspondent complains.
In one respect, no doubt,
it is objectionable—namely, in its
tendency to discourage the opening of windows, where they
would be desiraLle for purposes of light or ventilation. Lut
if the Government should adopt the plan, which is under-
stood to be in contemplation, of adhering to the present
sessmcnt, and permitting all parties to open additional win-
dows without further charge, that objection would be entirely
removed.—Manchester Guardian.