The Sun.
London, England, 1860-01-19 00:00:00

THE SUN, LONDON, THURDAY EVENING, JANUARY 19, 1860.

_ROYAL ALHAMBRA PALACE CIRCUS,
Leicester-square. Two Performances Daily.
All who have not yet witnessed the astounding feats of that
bovine Prodigy, DON JUAN, the Educated Bull, should take
early opportunity of doing so, as the stay in London of this
th e Greatest Wonder of the Age, Is limited, the proprietor
boxing accepted a lucrative engagement for him to visit the
palucipal Continental Cirques. Notwithstanding the
iartt success of the New Comic Harlequinade entitled the
001.,DEN BULL, it must be withdrawn to make room for
either novelties now in active Preparation. li. W. Franklin,
t'ae Aerial Vault;geur, and the other great artistes from
Rouse and St. Petersburg appear twice daily, in conjunction
with the unrivalled Alhambra Circus Company.
lie ruing Performance (especially recommended), at Two ;
Evening, at Half-past Seven.
Proprietor Mr. T. IPCOLLUIL

ARGYLL ROOMS, Windmill-street, Grand
CASINO, open every Evening, with the celebrated
Bend. Established 10 years. Conducted by Mons. Lamotte ;
principal cornet-a-piston, M. Boulcourt. Doors open at half-
)►as't 8, commence at 9. Close a few minutes before 12. Ad-
mission, is.

THE NATIONAL ASSEMBLY ROOMS,
NIGH HOLBORN,
This Establishment, pre-eminently distinguished for the
aegance and matchless beauty of its decorations, combined
,with the perfection of its manacrement Is OPEN EVERY
'EVENING. The celebrated band, under the direction of Mr.
rir. M. Packer, plays a nightly-varied belection of the ssollt
approved classical and modern music. Doors open at half-
past 8. Overture at 9. Closing at 12. Admission, One
Shilling.
N.B.—lfr. W. M. Packer's grand annual benefit Bal Masque
(msitively the only one this year) is fixed for Thursday, 23d
Yebruary.

DR. KAHN'S MAGNIFICENT ANATO-
MICAL MUSEUM, Top of the Haymarket (acknow-
ledged by the whole of the Press to be the most useful and
instructive of any in existence), is OPEN DAILY (for gentle-
men only), from 12 till 5, and from 7 till 10. Admission,
One Shilling. Descriptive handbook gratis. Dr. KAHN'S
Popular Lectures on the " Philosophy of Marriage," daily at
3 and 8 o'clock precisely. SYLLABUS.—Happy and Unhappy
Unions, and their causes—Youthful Vices and Indiscretions,
and their results —Disqualifications for Marriage, and their
cure—the Physiology of Reproduction—Self-inflicted Miseries
—Sterility and its causes—How to secure Moral and Physical
Happiness.
N.B.—Dr. Kahn's Treatise on the above subjects, entitled
"The Philosophy of Marriage," sent post-free on receipt of
twelve stamps, direct from the Av.thor, 17, Harley-street,
Cavendish-square. W.

PRESENTS.- ORNAMENTAL and SCIEN-
TIFIC.—ORNAMENTS for the Drawing-room, Library,
and Dining-room, consisting of anew and elegant assortment
of VASES, Figures, Groups, Candlesticks, Obelisks, Inkstands,
beautiful inlaid 'fables, Paper weights, &c., in Italian,Alabas-
ter, Marble, Bronze, Derbyshire Spar, &c. Imported and
manufactured by JAMES TENNANT, Mineralogist to her
Majesty, 149, Stand, W.C., London.
Mr. Tennant arranges elementary collections of SHELLS,
MINERALS, and FOSSILS, which will greatly facilitate
rile interesting study bf MINERALOGY, CONCIIOLOGY,
and GEOLOGY, at 2,5, 10, 20, 50, to 100 guineas each.
PRACTICAL INSTRUCTION in GEOLOGY and MINE-
RALOGY is given by Mr. TENNANT, at 149, Strand, W.C.

BURROWS AND CO., Wholesale Wine Mer-
chants, LIVERPOOL.
Stores Lime-street.
Offices 54, Duke-street.

The Proprietors beg most respectfully to call the attention
of the trade, noblemen, clergy, Sic., and the public in general,
to their extensive stock of Choice Wines, of rare vintages.
BURROWS and Co. are not disposed to comment upon the
purity of their wines, which Is daily most laudably acknow-
ledged by the public and eminent medical men of all coun-
tries, as the increasing atronage of the highest families in
the lend is a sufficient guarantee.
They beg to call particular attention to their pure Tonic
Wines, as being so valuable to Invalids and persons of weak
stomachs.
sample case, containing three full-sized wipe bottles,
will be forwarded to any address on receipt of P. 0.0. for 13s.
Id., or a dozen for 245.
tis a well-known fact that impure and adulterated wines
are the greatest foes to health, producing acidity in the
stomach, and debilitating; the digestive organs, while pure
wines will accelerate the digestive powers, invigorating,
strengthening, and bracing the nervous system.
'Their Tonic Wine is admitted to be most essential to in-
valids, both old and young, and should never be absent from
the homes of the weak and sickly. Its properties are duly
acknowledged and appreciated by the leading men of the
faculty, both at home and abroad.
To prevent imposition each bottle is sealed with the name
of the firm.
All orders to be made payable to HENRY BURROWS.

LONDON AND WESTMINSTER BANK.

The ordinary half-pearly general meeting of the
proprietors of this bank was held yesterday, at the
central offices in Lothbury ; Alderman SALOMONS,
M.P., in the chair.
After the reading of the advertisement calling
the meeting,
The CHAIRMAN said, we are happy, gentlemen,
to meet you at this our annual general meeting, to
lay before you the report of the proceedings for the
last half-year, and of the general condition of the
bank for the past year.
The SECRETARY then read the following report
and statement of accounts, which, by the frequent
cheers it elicited, appeared to give universal satis-
faction :
" The directors have the pleasure to report that,
after making ample provision for all bad and doubt-
ful debts, paying the income tax, setting apart the
sum of £2,000 towards the new buildings in West-
minster,
Bloomsbury, Southwark, and Temple-bar,
and presenting a gratuity of 10 per cent. on their
salaries to all the officers of their establishment—
the net profits of the bank for the last half-year
amount to £105,413 10s. 4d. This sum added to
£18,116 18s. 6d., the unappropriated balance of
the preceding half year will amount to £123,530
Bs. 10d. Out of this amount the directors have paid
the interest on the rest or surplus fund at the rate
of 5 per cent. per annum, and they now declare a
dividend to the shareholders at the rate of 6 per
cent. per annum, and by way of further dividend
out of the profits, abonus of 7 per cent. on the paid-
up capital. After these payments are made, there
is an unappropriated balance of £lB,BBl 17s. 4d.,
and the directors recommend that the sum of
£9,408 6s. Bd. shall be added to the rest or surplus
fund, which will then amount to £200,000, and
that the balance of £9,473 10s. Bd.shall be carried
' forward to the credit of the profit and loss account
for the current half-year. The directors who retire by
rotation are John Garratt Cattley, Esq., James
Denis De Vitre, Esq., and George Hanson, Esq.,
all of whom being eligible offer themselves for re-
election. In accordance with the arrangement
communicated to the proprietors at the last half-
yearly meeting, Mr. Gilbart resigned his duties on
31st December to his successor, Mr. Ewings, and
the directors recommend that Mr. Gilbart be now
elected an extra director in anticipation of the next
vacancy. A resolution to this effect will be sub-
mitted to the meeting.
" Dr.—To proprietors fur paid-up capital,
£1,000,000 ; to amount due by the bank on deposits,
circular notes, &c., £11,115,697 2s. 7d. ; to rest or
surplus fund, £185,943 ls. 10d. ; to balance of
profit and loss account, June 30, 1859, £18,116 18s.
6d. ; to net profits of the past half-year, £105,413
103. 4d. Total, £12,425,170 13s. 3d. By Govern-
ment Stock, Exchequer Bills, and India Bonds,
£1,682,884 13s. ld. ; by other securities, including
bills discounted, loans to customers, &c., £9,720,939
10s. 7d.; by cash in hand, £1,021,346 9s. 7d.—
Total, Z 12,425,170 13s. 3d.
" Profit and Loss.—Dr.: To total expenditure of

the seven establishments, including rent, taxes,
salaries, stationery, &c., with a gratuity of 10 per
cent. on their salariesto the officers of the establish-
ment, £34766 6s. 7d. ; to amount set apart towards
the new buildings in Westminster, Bloomsbury,
Southwark, and Temple Bar, £2,000 ; to amount
added to rest or surplus fund by interest at the rate
of 5 per cent. per annum, £4,648 lls. 6d.; to the
payment of the dividend now declared at the rate
of 6 per cent. per annum, fpr the last half-year, on
the paid-up capital of £1,000,000, £30,000; to bonus
of 7 per cent on the capital, £70,000 ; to balance of
profit and loss, £lB,BBl 17s. 4d. ; total, £160,296
15s. M. Cr.: By balance of profit and loss account,
June 30,1859, £18,116 18s. 6d. ; by gross profit of
the last half-year, after paying the income tax, and
making provision for all bad and doubtful debts,
£142,179 16s. 11d.; total, £160,296, 15s. sd.
"Rest or Surplus Fund—Dr.: Present amount,
£190,519 13s. 4d. Cr.: Amount on the Ist of July,
1859, £185,943 is. 10d. ; by interest on ditto at 5
per cent. per annum, £4,648 lls. 6d. ; together,
£190,591 135.4 d."
The CHAIRMAN—Gentlemen, I have a very grati-
fying duty to perform in proposing the reception of
this report, of which I need only says it reveals to
you the working of a very prosperous ear. (Hear.)
It is further satisfactory to know
is that that pros-
. perity which we experience here only the reflec-
tion of the general prosperity of trade and com-
merce throughout the country. I believe that, with
the single exception of the shipping interest, the
trade of the country generally during the last year
has been very good, and under recent arrange-
ments, with which .you are doubtless acquainted,
we have the prospect of a more intimate acquaint-
ance with France, which thet e is every reason for
hoping will be the means, not only of making trade
still more active, but of making the peace of the
world more secure. (Cheers.) If, gentlemen, you
compare the statements which we have made to you
to-day with those which we laid before you
ate
time last year, you will find that the aggregate of
our deposits is somewhat less ; but that has
reference entirely to that portion of our de-
posits upon which we pay interest. For the
rest, with regard to our trade, although the in-
terest of money has been low, we have found the de-
mand for capital has been very active, and has en-
abled us to employ our balances constantly, and
consequently to give you the magnificent result
which is before you. (Hear, hear.) As to our
dividend, I am happy to find that it has been one of
gradual increase. We divided in 1857, 16 per cent ;
in 1857, 17 per cent. ; and 1859, 18 per cent., and

this without any effort as you see, for we have
thought it consistent with your interests, with the
interests due to the establishment, and with the
position of the bank, besides paying this increased
dividend, to bring up our reserve fund to £200,000,
and to carry forward to the current half year
£9,473105. Bd. in aid of the next half-yearly divi-
dend. (Cheers.) lam not aware that I need de-
tain you with any further details with re-
gard to the mode in which the accounts are made up.
You are all aware that the item of deposits means
actual deposits lodged here by the public, and that
the dividend we pay is the result of our ordinary
current business, not excluding anything like profit
on stock. Our investments stand in the accounts
at their prime cost to us, and if they were sold to-
day they would realize a very large profit. These
are the only points in regard to the accounts to
which I would call attention, but I shall be happy
to answer any questions that may be put, and to
give any further explanation that may be re-
quired. As to the' other matters referred to in
the report, I shall have to move the re-election of
three of my excellent colleagues who go out by ro-
tation at this meeting, and to move that which I am
sure will meet with unanimous concurrence, that
Mr. Gilbart, the late manager, take his seat at the
board as an addition to the present number of the di-
rectors. (Hear.) With these remarks I beg to move
in the ordinary way that the report just read be re-
ceived, adopted, printed, and circulated among the
proprietors. _ _ _

-Dtr. HADDO seconded the motion.
A SHAREHOLDER—Is the whole of the expense
of this building now paid off?
The CHAIRMAN—It is all paid off, and the build-
ing stands as an asset of. £30,000. (Cheers.)
Mr. TITE, M.P. (a director)—Which is not half
its value.

Mr. T. H. SMITH, referring to the £4,000 set
aside annually towards the cost of the new build-
ings in Westminster, Southwark, and Temple-bar,
suggested that having now a rest of £200,000, they
should pay for any additional expenditure incurred
in enlarging, altering, or repairing premises out of
the current revenue of the year in which such ex-
penditure was incurred.
A PROPRIETOR inquired, with regard to the elec-
tion of Mr. Gilbart to the direction, whether that
gentleman would be placed on the same footing as
the other members of the board, and under what
power the board proposed to make this addition to
their numbers ?

Another PROPRIETOR asked whether the deed of
settlement did not limit the number of directors to
24?

The CIIAIRMAN—Yes.

The PROPRIETOR—Then is it quite consistent
with the law to alter that number without the
sanction of a special meeting 2
Mr. II uppo observed that the hon. proprietor
was evidently labouring under a mistake as to the
present number of the board, which he believed was
only 15, so that it was open to them to add 7 or 8.
The PROPRIETOR—Might not Mr. Gilbart be
substituted for one of the gentlemen who retire by
rotation ?

Mr. HADDO should regret if Mr. Gilbart's ac•
cession to the board was obtained at the expense of
any oue of the old directors.
The CHAIRMAN observed that it was quite clear
the hon. proprietor was under a mistake as to the
number of directors. The deed declared that the
board should consist of not less than 12 nor more
than 24 directors. They have now 15, and it was
in the sense of an extra director in number until a
vacancy occurred that Mr. Gilbart was now pro-
posed to the proprietors for election. (Hear, hear.)
Of course it was not intended by this arrangement
to add to the expense of the direction, and the pro-
prietors would have the services of the sixteen
while paying for only fifteen. ("Hear," and a
laugh.) With regard to what had fallen from the
hon. gentleman who spoke of the rest, he (the
chairman) hoped that under no circumstances
would any step be taken to interfere •with that
which the board considered an important element
in their position and credit. They had been going
on for many years increasing their dividends very
steadily and very securely. It was not for him
to anticipate what another year might produce, but
he would certainly say wait till they were going
back before they proposed to interfere with the
rest, or any of those securities by which the high
prsition and credit of the bank had beenattained.
Mr. SMITH explained that he had not proposed
to interfere with the rest, hut merely suggested
that any expenses incurred for enlargement or al-
teration of premises should be borne out of the
current income of each year, besides setting aside
the £4,000 a-year towards the new buildings.
The CHAIRMAN replied that they were always in-
curring an expenditure for enlargments and altera-
tions rendered necessary by the continual increase
in their business, in fact the hammer was always
going, and when they had an extraordinarily good
year they did defray such charges out of the cur-
rent revenue. (Hear.) He thought, when the
bank paid at the rate of 20 per cent per annum and
carried £lB,OOO over, that the proprietors might
place confidence in the directors that they would
deal with these matters in that way which would
conduce most to the general interest. (Hear.)
The resolution was then put, and carried unani-
mously.
The CHAIRMAN—The next resolution I have to
put is, that my excellent colleagues, Messrs. Caltley,
De Vitre, and Hanson—who, I can assure you, from
experience, are all good working men, and most
efficient members of your board—be re-elected.
This resolution, having been seconded, was car-
ried nem. con.

The CHAIRMAN—Now, gentlemen, I have the
pleasure of proposing that Mr. Gilbart, our late
able manager, be appointed a director extra in
number, pending the next vacancy.
This motion was carried by acclamation.
Mr. GILBART, in returning thanks, said that he
never felt so strong an inclination in his life to make
a long speech, and he had ample materials he
thought for making a good speech ; bet as he could
not make his voice heard throughout that assem-
bly, he thought he should but show his prudence
and discretion by merely returning his best thanks
for the honour they had just conferred upon him.
(Cheers.)
Mr. TEMPLETON moved that the best thanks of
the meeting be awarded to the directors for their
able management during the past year, of which
they had the best possible proof in the balance-
sheet they had in their hands, and in the dividend
they were about to receive. He expressed his grati-
fication that Mr. Gilbart, who had managed the
bank with such ability for nearly a quarter of a
century, and who had so largely contributed towards
placing it in the high position of public confidence
in which it now stood, was about to be added to the..

. _
list of directors. Ho added that their experience of
Mr. E wens, and their knowledge of his managerial
talents, reconciled them in some degree for the loss
of Mr. Gilbart from the office he had so long and so
ably filled.
The motion was carried.

Mr. lIADDo desired to add a rote of thanks to the
chairman, upon whose great business talents he
passed a high eulogium. He congratulated the
meeting upon the high dividend they had attained,
and without hazarding an opinion as to whether
they had yet reached the summit, he had every
confidence that they would bo able to continue the
present rate. (Cheers.)
The resolution, having been seconded, was also
put and carried.

The CIIAIIIMAN, in acknowledging both resolu-
tions, said, nothing can be more gratifying to us
than the kind and cordial feeling which exists on
your side of the table. The duty we have to perform
is a very important ono—we are all partners, and it
is evident to every one that nothing can tend more
to promote the general prosperity and give confi-
dence out of doors, than for the public to know that
complete harmony exists between the directors and
proprietors at large. As far as we are concerned, we
will endeavour to merit your confidence on all
occasions, and I believe that while good service
stands well, good service, coupled with a good
dividend, will always be acceptable. (Cheers, and
a laugh.) One gentleman suggests that the summit
of dividend has possibly been reached. I am not
prepared to say that it has, but without wishing to
anticipate the future, all we know is, that all
that can be done by us in the way of good manage-
ment to maintain the good character you have been
pleased to give us and the high character which
the establishment has maintained out of doors for
high honour and prudence will continue to be done.
(Cheers.) With regard to myself I am here on
sufferance as one of the senior members of the board,
but nothing can be more grateful to my feelings
than to know that you are so kind as to express
yourselves so favourably towards me. Before we
conclude the business allow me on behalf of the
board to move a vote of thanks to the manager, the
secretary, the managers of branches, and all the
officers of this establishment to whose intelligence
and zeal we are so largely indebted.
The resolution having been put and carried,
Mr. GILBART, the late manager, briefly returned
thanks, and
Mr. EWE NS, the new manager, followed in au

appropriate speech, in which h 8 expressed his
acknowledgments to the directors for the high
position in which they had placed him, and his
conviction that with the aid and advice which he
knew he should always receive from his friend Mr.
Gibart, and the support which the confidence of the
board and the shareholders would give, he should
be enabled to conduct his managerial duties to the
advantage of the bank and to his own credit.
The meeting then separated.