The Sun.
London, England, 1867-02-09 00:00:00

At the Annual General Meeting of the Proprietors, hold
°a Thursday, the 7th February', 1867, at the London
Tavern, Bishopsgate-street, the following Report for the
Year ending-the 31st December, 1866, was read by tho
Secretary.
HUGH C. E. CHILDERS, Esq., M.P., in the Chair.
REPORT.
The Directors, in submitting to the Proprietors the
balance-sheet of the Bank for the half-year ending the 31st
Pecember last, have the pleasure to report that, after pay-
ing all charges, and interest to customers, and making
ample provision for bad and doubtful debts, the net profits
amount to £101,998 15s. This, added to £17,468 16s. 6d.
brought forward from the last account, produces a total of
£119,467.115. 6d.
They recommend4he payment of the usual dividend of
L 6 Per cent., together with a bonus of 8 per cont. for the
alf-year, both free of income tax, which will absorb
£105,000, and leave £14,467 lls. 6d. to be carried forward
to profit and loss new account. The dividend for the whole
year 1866 will thus be 25 per cent.
At the meeting in February, 1866, it was intimated to
the Proprietors that.tho Directors propcsed to increase the
tcaPital of the Beek, and at the meeting in August, 1866,
t9e Pro rietors, by a resolution, adopted the recommends-
Directors. Irwilklaepropose4 to net upon this
resolution (which will require fermi,' confirmation) by the
issue of 12,500 new shares, to be offered pro rata amongst
the Proprietors as they appeared on the Register on the
4th instant, the date when the Transfer Books of the Com-
Pany were closed, such shares to be issued at the price of
£4O each, being a premium of £2O per share. The total
number of shares will than be 50,000. Full particulars
of the issue will be transmitted by circular to each Pro-
prietor.
The Directors have to announce the retirement of E -
ward J. Hutchins, Esq., and William Lee, Esq., M.P., from
the Direction, and tho election of Hugh C. E. Childers,
,
r-4(1., M.P., and Edward W. T. Hamilton, Esq., M.P., in
their stead. _

The Directors retiring by rotation are—Nathaniel Alex-
ander, Esq., Thomas Tyringham Bernard, Esq., and Wil-
liam Nicol, Esq., who, being eligible, offer themselves for
re-election.

There is a vacancy-in the Auditorship, through the dis-
qualification of Mr. Robert Escombe, and it is in the power
of the meeting to fill this up.
The dividend and bonus (together £2 16s. per share),
free of income tax, will be payable at the Head Office or
at any of the Branches, on and after Monday, the 18th
instant.
BALANCE-SHEET OF THE LONDON AND COUNTY
BANKING COMPANY, 31ST DECEMBER, 1866.
To capital paid up
To reserve fund
To amount due by tho
Bank for custo-
mers' balances, dm. £12,057,000 12 8
To liabilities on ac-

ceptances 1,580,761 9 2

13,637,762 1 10

10 bala Profit and loss
nce brought
from last account 17,168 16 6
To gross profit for
the half-year, after
making provision
ful deb
for bad and doubt-
ts

319,957 14 9

337,426 11 3

£14,975,188 13 1

Ca.
BY cash on hand at
Read Office, and
Branches X1,767,383 3 3
111. Y cash placed at call
and at notice
1:

734,056 3 7

£2,501,439 6 10

'tivestments, viz.:
BY Government and
Guaranteed Stocks 691,953 0 6
-15 Y other stocks and
securities

101,899 12 9

797,852 13 3

1Y discounted bills and adimnces to cus-
, tomers in town and country
4)37 freehold premises in Lombard-street
and Nicolas-lane, freehold and lease-
hold property at the Branches, with
Rxtures and fittings
3,3' interest paid to customers
4)Y salaries and all other expenses at
Head Office and Branches, including
income-tax on profits and salaries

176,313 12 8
93,277 5 11

99,813 It 9