The Sun.
London, England, 1858-02-05 00:00:00

LONDON, FRIDAY E

ONDON and COUNTY BANKING
COMPANY.
Subscribed Capital, 1,250,0001.. Paid-up Capital, 5C0,0001. Reserved

Fund, 105,0001:
Head Office 2 I , Lombard-street.
DIRECTORS.
William Champion Jones, Esq.
James Laming, Esq
John Henry Lance, Esq.
William Lee, Esq.
William Nicol, Esq.
Richard Springett, Esq.

Philip Patton Blyth, Esq.
J. W. Burmester, Esq.
Thomas T. Bernard, Esq , M. P.
William Cory, Esq.
James Andrew Durham, Esq.
Jos.Christopher Ewart,Eeq

GENERAL MANAGER—WWI= ArKeWall, Esq.

At the Annual Meeting of Proprietors, held on Thursday, the
4th February, 1858, at the London Tavern, Illahopsgate-street, the
following Report for the year ending the 31st December, 1857, was
read by the secretary.
WILLIAM CHAMPION JONES, Esq., in the Chair.
REPORT.

The Directors have much satisfaction in laying before the Proprie-
tors a statement of the affairs of the Batik for the half-year ending
the 31st of December, 1857.

It will appear by the balance-sheet, signed by the Auditors, that
the net profit of the Bank for the last half-year, after deducting all
expenses, Income tax, and rebate, and making a liberal prov,sion fer
bad and doubtful debts, amounts to 42,8941. Ile 4d, including the
bwance of 14,145/. Os Bd, brought forward from the 30th June last.
From this sum the Directors have placed 5,0071. to the credit of
the Reserved Fund, and recommend the usual grant of 500/. to the
Provident Fund of the Bank for the year 1857.
They further recommend that a dividend be now declared of 6
per cent. for the half-year, free of income-tax, which, with 5 per
c.,nt. already raid for the six months ending the 30th June last, will
b 11 per cent. for the year 1857.
Should these recommendations be adopted there will remain a
balance of 7,394'. lls. 4d., which it is proposed shall be carried for-
ward to profit and loss new account.
The Directors have to announce that Thomas Tyrlngham Bernard,
Esq , M.P. for Aylesbury, has jolued the direction in place of A. A.
Hoghton, Esq., who has retired.
The Directors retiring by rotation are—
William Cory, Esq.,
James Andrew Durham, Esq., and
John Henry Lance, Esq.,
who respectively offer themselves for re-election. •

BALANCE SHEET
OP TFLI LONDON AND COUNTY BANKING COMPANY, 31ST DEC., ISSI.
Dr. £ a. d.
To Capital paid up .........• ....... •. .• 500,000 0 0
Reserved fund. ..
Customers' balances, &c. ....... ..... ...... .. 3,533,425 14 3
Front and loss balance brought
from last account.
Ditto, rebate, &0., ditto. 9,614 1 8
Gross profit for the half-year,
after making provision for
bad and doubtful debt.

131002 3 10

X 1,269,427 18 1

By Cash on hand at Head Office
and Branches • • 496,596 6 3
Cash placed at call and at
short notice ..

X s. d.

585,047 6 9

1,081,643 la o

Investmelats, viz.:
Government and guaranteed
stocks .......... • • .... • • 222,699 15 8
Other stocks and securitie;.. •. 18G,281 8 6

403,931 4 2

Discounted bills, notes, and
temporary advar ces to cus-
tomers in town and country 2,319,097 13 11
Advances to customers on spe-
cial securities—

293,91 G 1 2

2,643,043 15 1
Freelio'd premises in Lombard-street and Nic-
holas-lane, freehold and lea•ehold property
at the branches, with natures and ILtinis • . 52,494 7 10
Interest paid to ells :omen .. • 33,653 12 0
Salaries and all other expenses at Head Office
and branches, including income tax ...

44,611 6 0

£1,269,427 18 1

PROFIT AND Loss ACCOUNT.

Dr.
To Int,res! paid to customers ....... ••• • • •
Expenses as above ...... .• •• • • •... •• •• •• • ••
1:03.te on bills not due, &c., carried to profit and
!ors new account •• • • •• • • •• ••
Res.?rved fund ..... • .• • • • • .. • •
Dlv:dand, at 6 iper cent., for the half-year.... ••
Provident fund ........... ••.. •
Palance carried forward to profit and loss new
account .....• • ..... •• ..

X s. d.
38,653 12 0
44,611 6 0

9,842 14 6
5,000 0 0
30,000 0 0
500 0 0

7,394 11 4

£136,002 3 10
£ 8. d.
14,145 0 8
9;i14 1 8

Ey balance brought forward from last account....
Rebate.'&c., ditto ..
Gross profit for the half•year, after making pro-
vision for bad and doubtful debts •• •• •• .•

112,243 1 0

£13,1,092 3 10
We, the undersigned, have ocainlned the toreg-olng oalance-sheet,
and compared the items it comprises, with the several books and
vouchers relating thereto, and have found the same to be correct.
(Signed) lIENRY OVERTON,
JOHN WRIGHT, Auditors.
FREDERICK G.ISKELL,
London and County Bank, Jan. 28, 1858:
The foregoing report leaving been rend by the Secretary, the fol-
lowing resolutions were proposed, and unanimously adopted-
1. That the report be received and adopted, and printed for the
Ilse of the Shareholders.

2. That a Dividend of 6 per cent. be declared upon the • capital
stock of the company; for the half•year ending December 31, 1857,
clear of income-tax—payable on and alter Monday, Feb. 15, inst.
3. That the sum of 5001. be added to the " Provident Fund," and
the balance of 7,3941. 11F. 4i. then remaining, to be carried to Pr4lt
and Loss new account.

4. That the thanks of this meeting be given to the Board of
Directors for the able manner in which they have conducted the
affairs of the company.
5. That the thanks of the Meeting be presented to the Auditors
of the Company for the past year.
6. That Henry Overton and John Wright, Esquires, be elected
Auditors ior the current year.
7. That the thanks of this Meeting be presented to William
MgCoven, Esq., the General Manager. and the other officers of the
establishment, for the zeal and ability with which they have severally
discharged their respective duties.

The Hallot for the election of three Directors having been pro.
ceeded with, the following gentlemen were unanimously re-sleeted
Will.am Cory, Esq.,
James Andrew Durham, Esq., and
John Henry Lance, ESq.
(Signed) W. C. JONES, Chairman.

The Chairman having quilted the chair, it was resolved, and
carried unanhnously—

That the cordial thanks of this Meeting be presented co W. C.
Jones, Esq., for his able and courteous conduct in the chair.
(Signed) WILLIAM NICOL.
Extracted from the minutes.
(Signed) K. I'. NIJUOLS, Secretary.