The Sun.
London, England, 1835-09-17 00:00:00

BANK OF E

A meeting of the Proprietors of Bank Stock took place to•
day in the Court-room of the Bank of England, for the pur-
pose of considering a dividend, and other important business.
The Governor, accompanied by the Deputy Governor and
several of the Directors, entered the Court-room at 12 o'clock.
The minutes of the last meeting having been read, ,
The GOVERNOR stated that the present was one oft e
General Quarterly Courts appointed by the Charter, and ao
one of the Half-yearly Courts appointed by the bye-laws
consider a dividend. The Court of Directors, looking to theo
general assets of the Company, had considered that a divi end
d
might be declared of 4 per cent. for the half year ending the
20th of October next.
Mr. SELWYN said that before be could express his assent or
dissent to the proposition of the worthy Governor, he thought
it necessary to put a few questions to him on the present occa-
sion, to which he should require full, distinct, and satisfactory
answers. In putting those questions he trusted that the
worthy Governor would not suppose that he was imputing anY
thing to him personally, for it had been his habit upon former
occasions to put similar questions to his proceedings, and be
in some instances be had put thirty times the number.
In the first place, he should be glad to know up to what tiro t
the accounts were made up on which the rate of the presen
dividend of 4 per cent. had been calculated?
The GOVERNOR answered up to the 10th of October.
Mr. SELWYN observed, that that time not having yet ar-
rived, he thought there must be some misunderstanding of
his question. What he wished to know was, up to what
time the balance had been made upon which the rate of the
dividend had been calculated? Upon former occasions it Wos

made up to the 31st of August.
The GOVERNOR observed that it was so now.
Mr. SELWYN said that the next question he wished to Put
was, what was the amount of the rest at that time ?
The GOVERNOR answered, 2,740,000/.
Mr. SELWYN next wished to know whether the profits which,
had accrued to the concern during the last half year exceedeud
or fell short of the amount of the dividends which wutli

become payable on the 10th of October next?
The GOVERNOR said that he had fully anticipated that s
question like the one put by the learned proprietor would be
put. He could assure the Court of Proprietors that the Di'
rectors were most anxious that every information should be
given to them.—( Hear.) The earnings of the last helf-Year
fell short 19,0001. of the amount of the dividends that the
Court of Directors proposed to make. On the other
hand, however, when thy considered that this 'sas.
the first year of their new charter being brougn'
into operation, and that it was also the first Year
ante
which they had to make a reduction of 150,0001. a-year, °-
that they had only fallen short of theldividend, as he had told tbe
last Court, 10,0001., and the present 19,0001., making 30,0001,
the Court of Directors had thought it advisable and best to
recommend to the Court of Proprietors a continuation a that
dividend ; because when they considered the large
the capital of the Bank, upwards of 14,000,0001., and,
when they considered that circumstances might occur
ii
he did not mean to say that they would occur--w 1;
would enable the Court of Proprietors to continue the ah';
dend, it was but fair that time should be given for the purpe,se
of considering whether they would be enabled to continue oia
dividend or not.—( Cheers.) The Directors therefore 1185
thought it right to continue the dividend. If the Directera,
should find that they were not able to continue the divide n•
they would come to the Proprietors and ask for a lower diir;
dend, but in his opinion the experiment ought to be tried.
deduction was to take place he trusted it would be a specific ellb,e'
not varying from year to year, as fluctuation was highly
amount
(01,
jectionable.—( Hear, hear.) He trusted, however, that tu
Jit
would still be able to keep up the dividend as it at present,
existed. He thought under all circumstances, persons c°o
netted or acquainted with banking affairs would deem that t,
Court of Directors, in the course they had adopted in re e,-
mending the continuation of the dividend to the Court of r"
prietors, had acted most properly.
FAUNTLEROY'S BANKRUPTCY. e 0
Mr. SELwYN observed that the concern had sustainedag,
loss by the forgeries of Pauntleroy—upwards of 360,n,%,
The public Journals had informed them that the Court-of
Geri
rectors had entered into some compromise with that On bat
to which Fauntleroy belonged ; and it had been stated tier
the composition which that body (the Bank of England) eitre,
had, or has to receive, amounted to 90,0001. He wished, the,l4
fore, to ask whether, in point of fact, that report was fottu-
or not in truth ? eel
The GOVERNOR said that the Court of Directors had Waith
to take 95,0001. in lieu of all claims upon the partnership
which Fauntleroy was connected.
Mr. SELWYN wished to know whether the 95,000/.
money to that amount, or only a dividend on that sum?
The GOVERNOR—It is money to that amount.—(Cho''
Mr. SELwYN rejoiced to hear it.
The GOVERNOR—And it has been received.--(Cheers.o
Mr. SELWYN—StiII better.—( A laugh.) lam glad 1,
enormous loss has been reduced 25 per cent.
rnE BRANCH BANKS. bud
Mr. SELwYN wished to know whether any alteration
taken place in the branch banks since the last meeting
The GOVERNOR observed that there had not. 'se
Mr. SELWYN wished to know whether, upon takings,,
count of those concerns, they occasioned a profit or a 10'
The GOVERNOR—On the aggregate a very great prolit'iiel
Mr. SELWYN thought the Governor was fully eritiliest
to the thanks of the Court of Proprietors for tbe,..ma."
)
and distinct answers which he had given.—( Loud "—est.
He congratulated them upon the dividend of four Per i.; er
which had just been declared, and he would conclude VI
pressing a hope that long might it continue.
Mr. YOUNG begged to know whether the 95,C00/. obtlc3 o-
from the firm of Fauntleroy and Co. firmed any part of th,ell3'/
fits out of which the present• dividend.of four per cer'
been declared?
The GOVERNOR—It does not.—( Hear, hear.) for'
Mr. YOUNG—Then I think we are justified in loolthig
waMr.t SO
rd o better times 1150
WILL . begged to know whether the stirPaico
40,000/.,- which had been declared in the year 1831, ha
carried to the profit of the present dividend ? tbi3
0
The GOVERNOR—It has been carried to the interest -
dividend.
Mr. WILLIAMSON did not understand, under these col, a 3
stances, why there should be a deficiency of 30,000 .0.11,
stated by the Governor, because according to his (I°oo
liamson's) calculation, and deducting the 120,0001-
the Governor alluded, there should be a surplus of 80,'
It 4
stead of a deficiency of 30,000/.
The GOVERNOR explained that there were two item wgittP
deducted from the supposed surplus—one was the gal boor,
amounting to 70,000/. ; the other we did not distinctLY4
But he would again repeat that the present dividend s"'3'
out of the profits.—(
does it Hear.)
form OOP
Mr. YOUNG—And not any part of the 9-
The GOVERNOR—It does not. -
I
Mr. WILLIAMSON—I have another question to -;
to know whether the rest is as large as it was last year` iltas
The GOVERNOR—The rest is rather better than '"
the P
M the ye ar 1825. f
r. WEEDING—If the 95,000/. forms no part 0-
sent dividend, what way has it been disposed of?
The GOVERNOR stated that there was a fund lelv,r"iitstk
meet losses, to which that sum had been paid over.
had been always represented in the accounts of the tlbitt
and the present sum would go to the diminution of der
count. He hoped he had: made himself suffieienq
pe,
stood. A sum of 350,000/. had been lost by the Iffoire,
and against this they had written off 250,000/.,ich eli
lance of 100,000/., and the 95,0001. which they bail
ceived, would be set off against that sum to meet it. ert
Mr. WEEDING—Then that sum of 95,000/.2 fornls lot
the general assets of the Company ?
The GOVERNOR—It was received only within j
„
oai'
few days. l°
Mr. BLACKBURNE observed that so far as he coa,te`
stand, after a few years experience of the new eras triottli,roo
nothing in it upon which the Company could CO I
themselves. It was natural that persons should re,J.tiolstl
any observations which might be calculated to i'tbstyr
money-value of their shares ; but it appeared to lino did''
Proprietors knew as little of their concerns as they „ere did
the old era, except that they did know that they sere
Glaring a dividend larger than their profits could afford;
00'
that upon reasons which appeared to him extremely I
sive. 'They were like persons in trade who, when. flacil'
fits were diminishing, thought it better to put in their roil
and spend as much, as when their concerns were raere 4
,1 {oaf
The rather than retrench.--( Hear, and a laugh.) ocf.
The GOVERNOR then put the question that a dhf ocb
per cent. be paid upon the half-year ending the 10th o
v '" d
la
which was carried unanimously.warrants AS
It was then announced that the dividend I,erl
be delivered and paid on Monday, the 12th of Octobers
the meeting adjourned.

BRAZILS. .e be'
Rio on/ utre; jor„e'
DE JANEIRO, JULY 3. —The treaty of 01 AP'
tween Austria and Brazil, concluded on the 16Atiff'alre5,01'
1827, having expired, the Austrian Charged ''„go;trAIII0
nounced that he had full- powers to negociate 'l3ro
The Regency therefore appointed Messrs. noel
Branco, and Bentocha Silva, Lisbon, Plellieo,te 0171
zil, and the new treaty was concluded on e 2.7 t" ntia"
to '
will be laid before the Chamber of Repres,enttivth lotiouty
proved of previous to its ratification. sre r '
JULY 10.—The Correio contains sev paPer,,,, tilefla )1)g
the landing of above 400 negro slaves.,,,erbroughtll,' of vo-frilili;
of Braganza, a Portuguese vessel, in. the patlsi..tioo
geiras, on the 4th July, of which scar dalous ricyer t
l
laws the local authorities sent .11 o account °lit°
..010t64i,'
Minister of the Interior. OP, or
JULY
11.—The election .4:)f the Regent is rii"'" two e
dßaytTetshhe wholasthaavcec otpuhnoetnsin, mulb,aeesri—o.oo f votes iii two
;;,,,c>01„61
The Deputy Hol'a nde Cavalcanti d'Albuquerq 3

illioiMnduayit Dal
—Cotreio 0 ' fficial, 13th July. .... 011
,
• SO 14,,:f o°
Majority... ..................
OF A FATTIER BY fliS niea '7:oo°,i
El
aßltercation arose between a nu .0 n3c;sl,leu-
severe
e and hii wife, who kept a public-110.W in 1,--her ;1 t,i
county Carlow, when it appears he,
times. The son interfered, ,e bi fio,e,i
and fine ,ing tfi 0
mined to
. persevere in beating the m other gaii%
i., afte.tl ill,
on the temple, which laid him pro' ;trate. ri'el4,lloevs3`):
gave his father several kicks on the 3 Side' 01
1r
o'l ''
-
held °
immediately after. An inquest was
when a verdict was returned acco' i•dinglY•
strtiice.
fat_
i erit_uevir,ol,