The Sun.
London, England, 1858-01-21 00:00:00

iNEWMAKET HANDICAP.
The Newmarket Handicap of 25 soya each, 15 ft, and 5
only if declared on or before the first Tuesday in
February, with 100 soya added by the Jockey Club,
and 50 from the Town Race Fund, for 3-yr-olds and
up wards ; winner after publication of the weights of
a handicap of 2001. to carry 71b extra ; winners of
all other handicaps to carry 51b, of any two handi-
caps, 10lb extra. Clermont course. 58 subs. ._
Age at lb Age at lb
The Lamp a 9 4 Queen Bees
Mary
Odd Trick 4 810 Cock a-doodle-doo 3 6 4
Monarque 6 8 7 Convert
St. Giles 4 8 6 Flying Duke 3 6 2
Black Tommy ... 4 8 4 Haymaker 3 6 2
Cotswold
Fright
Dulcamara
Dunboyne 4 7 9 Amsterdam
C ickatoo ...... ... 6 7 9 Barege
Brother to Bird Etoile du Nord 8 6 9
_ _ _

on the Wing 5 7 8
M. Dobler 4 7 8
The Dupe
Bird in the Hand 4 7 7
Peter Flat 5 7 6
Brewer
Omar Pasha 4 7 4
Queen of the East 4 7 4
Vanity • 4 7 4
Bel Esperanza
Peeping Torn
Mdlle. de Chantilly 4 7 2
Hobgoblin 4 7 2
Newington
Beeswax colt 4 8 13
Sicbmus 4 6 12
Messenger 4 6 10
Bannockburn

Media Noce
Worcester
East Langton 3 5 10
Gourd
Bridal Tour
Garnish
Excelsior
Pavilion 3 5 9
Gammoner 3 5 8
Compromise
Soothsayer 3 5 6
Negress 3 5 5
Bellefield 3 5 2
Wouvermans 3 5 0
Whychweod
Stapleton
Dividend filly 3 4 8

LONDON AND WESTMINSTER BANK.

Yesterday the usual half-yearly meeting of the
proprietors of the above bank was held at the bank,
Lothbury, Mr. Alderman Salomons, governor of
the bank, in the chair. The attendance was very
numerous.

The report stated,—That after making provision
far all bad debts, paying the income-tax, setting
apart 2,0001. towards the new buildings in
Lothbury, Bloomsbury, Southwark, and Temple-
bar, and presenting a gratuity of 10 per cent, on
their salaries to all the officers of the establish-
ment, the net profits of the bank for the last half-
year amount to 66,1751. 13s. 11d., which, added
to 10,2714 ls. Bd., the unappropriated profits of
the preceding half-year, make a total of 76,4461.
15s. 7d. Out of this sum the directors have
allowed interest for the last half-year on the rest or,
surplus fund at the rate of 5 per cent., and they
now declare a dividend of 3 per cent. for the half-
year, and by way of further dividend out of the
profits, a bonus of 4 per cent. upon the paid-up
capital. After these payments are made, there is
an unappropriated balance of 2,5781. lls. 5d.,
which remains to the credit of the profit and loss
account.

The CHAIRMAN, in moving the adoption of the
report, said he was glad to see so many proprietors
present ; because the directors proposed to adopt a
course different from that of former meetings. They
believed the bank was ably and prudently con-
ducted. The experience of the last 24 years had
enabled them to make provision for everything
that human foresight could dictate. Notwith-
standing the recent crisis, the directors had been
enabled to afford their customers all the accommo-
dation that could be reasonably desired. The
nominal capital of the bank was 5,000,0001., and
the paid-up capital 1,000,0001. The deposits
amounted to 13,900,0001. within 24,0001. of what
they were in June last, and 2,000,0001., more than
what they were this time last year. (Hear.) The
rest stood at 150,0001., and there the directors pro-
posed it should stand until they saw what was the
course legislation would take on the subject of
joint-stock banks. (Hear, hear.) On the
day the Government letter was issued, the
bank had available assets to the extent of
10,730,0001. ; it had 2,000,000/. investedin Govern- '
merit stocks ; 500,0001. on loans at call ; 5,000,000/.
in bills discounted for brokers; 2,000,0001. in cash
in hand. (Hear, hear.) At the present time the
bank had 2,200,000/. in Government securities,
1,000,000/. of which were Consols ; 500,0001. ad-
vanced to the East India Comp Any at 6 per cent. ;
East India Guaranteed Stock, 749,000/. ; discount
and loans, 4,751,000/. ; short bills, 2,194,000/. ;
and 1,115,0001. in bills of exchange at short periods.
With these figures before them there could be no
question as to the solidity of the bank. (Cheers.)
As regarded the dividend, it was somewhat less
than it was last half-year ; then the dividend was
at the rate of 9 per cent. per annum, and adding
that dividend to the present, it would make 16 per
cent. per annum for the year. (Hear, hear.) The
falling off in the dividend this half-year was easily
, accounted for • it was owing to the business of the
bank having been contracted, and to the directors
having kept in hand a larger reserve than usual
(luring the panic. (Hear, hear.) The losses which
the bank had suffered by that event were compara-
tively insignificant ; only one of their customers
had failed, but he held no bills, and therefore, so
far as the ordinary business of the bank was con-
cerned, he might also go to the lsngth of spring that
the bank had suffered no losses by its general cus-
tomers. But with 5,000,0001. of bills running, it
was only natural that some of the names on the back
of them should be found faulty, and accordingly the
directors, to meet any eventualities arising out of re-
cent suspension, had this half-year set aside a re-
serve of 10,0001. (Hear, hear.) With these ob-
servations he begged to move the adoption of the
report. (Cheers.)
Mr. MOXON seconded the motion, and suggested
put in trust for the depositors to
that pubic confidence in favour of the bauk would
be greatly increased if the capital was raised to
'onandin the event of a run on the bank.
to see an improved system of audit
adopted by the directors, and an-
fH2a, :10abOla,scOok0 Owutished p.
tnetntion to move the appointment of
laalnocudonnimcmeadniathtgiseeeminoef five shareholders, for the purpose
of conferring with the directors as to the best mode
of securing the future stability of the bank. (Hear.)
The motion for the adoption was then pus, and
carried una ins° usly.
Mr. MoXON then made the motion just referred
moved the previousiquestion as an
amendment,ilADD cibTrut eventually the original motion
to, which was seconded by Mr. MITCHELL.
,Mr.
was withdrawn.
The dividend was then declared, payable on and
after the 25th inst.
The retiring directors were afterwards re-elected,
and the proceedings closed with a vote of thanks
and confidence to the chairman, directors, and
officials.