The Sun.
London, England, 1860-07-19 00:00:00

TWENTY-THIRD REPORT of tlid
DIRFCTORs of the COMMERCIAL BANK of LON-
DON, for the Half-year ending June 30, 1860.
At the ANNUAL GENERAL MEETING of the Share-
holders, held at the Banking-house, Lothbury, on TUES-
DAY, the 17th July, 1860.

DIRECTORS.
MARK HUNTER, Esq., Chairman.
John Alfred Chowne, Esq. Robert Stracey Price, Esq.
James Clay, Esq., M.P. John Savage, Psq.
George Clive, Esq., M.P. I T erbert Taylor, Esq.
Jonathan Hopkinson, Esq. Joseph Thompson, Esq.
William Jackson, Esq., M.P. Thomas Winkworth, Esq.
Sir Joseph Paxton, M.P.
MANAGER—Mr. Alfred Richard Cutbill.
SOLICITORS—Messrs. Upton, Upton, and Johnson, and
Messrs. Norris and son.
Present—Forty-five Proprietors.
The advertlsement calling the meeting was read. and after-
wards the following

-11 FPORT.
The balance-sheet for the half-year exylincr 30th June-last,
which the directors have now to submit to the shareholders,
shows a net profit (including: £1.25 4s. Pd. brought forward
from last account) of £16,535 13s. 4d., after paying all ex-
penses of management and making provision for bad and
doubtful debts.

The directors are therefore enabled to recommend a divi-
dend for the half-year ending 30th June last at the rate of £8
per cent. per annum, free of income-tax, making, with the
dividend already paid, 7i per cent. for the past 12 months.
After payment of this dividend, which will require £12,000,
there will remain a balance of £55125. to be carried forward
to new aeceunt, £3,984 lie. 4d. having been allowed for rebate
on current bills not yet due.
The dividend will be paid on and after 28th instant.
In compliance with the provisions of the deed of settlement
the following Directors, viz., John Alfred Chowne, Esq.,
Jonathan Hopkinson, Esq., and Joseph Thompson, Esq., re-
tire from office, but being eligible offer themselves as candi-
dates for re-election.
July 17, 1860.

COMMERCIAL RANK OF L')NDON.
BALANCE-SHEET TO 30TH JUNE, 1860.
DR.
. .. _

Capital 5ub5cribed.............. £1,500,000
Capital paid-up, £2O each on 15,000 shares.... £300,000 0 0
Guarantee fund.. .... •.2 • • ... 75,000- 0 0
Balances due to the customers of the bank.. 979,708 19 10
Balance of undivided profit, 31st
December, 1852 ............. 1,285 4 3
Net profit for the half-year end-
ing 30th June, 1860, after pay-
ing income tax and deducting
all charges and expenses, and
making provision for bad and
doubtful debts. ....... ........ 15,250 9 1
Balance carried d0wn..........

41,371,244 13 2

Dividend at the rate of £8 per cent. per an-
nu, for the half-year ending 30th June, '
1860 ...
Rebate of interest on current bills carried to
profit and loss new account 3,984 11 4
Balance carried to next half-year 551 2 0

£16,535 13 4

a.
Cash in the bank and at call, atthe Bank of
England, Exchequer Bills, India Bonds, •
and Government 5'ecuritie5................ 250,785 17 0
Bills cldscounted, loans on stock, and other se-
curities . .
Strong-room, fittings, and furniture (premises
held on lease) 3,000 0 0

£1,371,244 13 2

Balance brought down

£16,53513 4

£16,53513 4

The report and balance-sheet having been read,
It was resolved,—That the report and balance-sheet just
read be approved, printed, and circulated amongst the Pro•
prietors

The Chairman, Mark Hunter, Esq., on the part of the
Directors, declared a dividend on the paid-up capital of the
Company, at the rate of £8 per cent. per ann,an for the past
half-year. free from income tax, payable on and after Satur-
day. the 28th inst.
Resolved—That the following- Directors, viz.:—
Joseph Alfred Chowne. Esq.,
Jonathan Hopkinson, Esq., and
Joseph Thompson, Esq.,
'who gO out of office in pursuance of the Deed of Settlement,
be re-elected Directors of this Rank.
Resolved—That the thanks of this meeting- be presented to
the Chairman and Directors, for their attention to the affairs
of the Bank during the past half-year.
Resolved—That the thanks of the Shareholders be given
to the Manager, Mr. Cutbill, and the other officers of the
Pang,
MARK HUNTER, Chairman.

COMMERCIAL BANK OF LONDON.__
The Directors HEREBY GIVE NOTICE, that a
ram .-,ND on the raid-up Capital of the Company, at the
June°l tg Per cent. per annum, for the half-year ending 30th
lawialB6o, free from income tax, will be PAYABLE at the
2.Bth .uZ Rouse, in Lothbury, on and after SATURDAY, the
'nat.
By order of the Board,
bat A. R. CHTBILL, Manager.
ed Jul
Y 17, 1860.

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