The Sun.
London, England, 1866-02-03 00:00:00

LONDON and COUNTY BANKING-
COMPANY.

Established 1836.
Subscribed Capital £1,875,000, in 37,000 Shares of .£5O each.
Paid-up Capital 4750,000. Reserve Fund £250,000.
DIRECTORS.

Nathaniel Alexander, Esq. Frederick Harrison, Esq.
Thos. Tyringham Bernard, Edward John Hutchins, Esq.
Esq. William Champion Jones,
Philip Patton Blyth, Esq. Esq.
John Dm. Burmester, Esq. William Lee, Esq., M.P.
Coles Child, Esq. William Nicol, Esq.
John Fleming, Esq., M.P.

GENERAL MANAGER.
William 31Enwan, Esq.
ASSISTANT GENERAL MANAGER.
William Howard, Esq.
CHIEF INSPECTOR.
W. J. Norfolk, Esq.
CHIEF ACCOUNTANT.
James Gray, Esq.
INSPECTORS OF BRANCHES.
IL J. Lemon, Esq., and C. Sherring, Esq.
SECRETARY.
F. Clappison, Esq.
HEAD OFFICE.
21, Lombard-street.
At the Annual General Meeting of the Proprietor; held
on Thursday, the Ist February, 1866, at the London
Tavern, Bishopsgate-street, the following Report for the
Year ending the 31st December, 1865, was read by the
Secretary.
WILLIAM NICOL, Esq., in the Chair.
REPORT.
The Directors have the satisfaction to submit to the
Proprietors the Balance-sheet of the Bank for the Half-
year ending 31st December last.
They have to report that, after the payment of all charges,
interest to customers, and making ample provision for bad
and doubtful debts, the net profits amount to £99,419 135.,
which, added to £13,660 7s, brought forward from the
last account, produces a total of £113,080.
From this sum a special bonus, amounting to £4,814175.
11d., has been presented to officers whose salaries are under
£3OO per annum, leaving £108,265 2s. ld. for appropriation.
The directors recommend the payment of the usual divi-
dend of 6 per cent., with a bonus of 64 per cont., making
together 124 per cent. for the half-year, which will amount
to £93,737 3s. 3d —this, added to the August dividend, will
be 274 per cent. for the year, and leave £14,527185. 10d. to
be carried forward to profit and loss new account.
They have to announce the retirement in December of
John Wright, Esq., for many years an auditor.
The directors retiring by rotation are—
Coles Child, Esq., and
Frederick Harrison, Esq.,
who, being eligible for re-election, offer themselves ac-
cordingly.
The dividend and bonus (together £2 lOs per share), free
of income-tax, will be payable at the Head Office, or at any
of the Branches, on and after Monday, the 12th instant.

BALANCE SHEET
Of the London and County Banking Company,
31st December, 1865.

DR.
To capital paid up
To reserve fund ...
To amount due by
the bankfor cus-
tomers' balances,
&c. .. £11,842,748 5 10
To liabilities on ac-
ceptances

£750,000 0 0
250,000 0 0

1,009,066 14 5

12,851,815 0 3

To profit and loss
balance brought
from last account 13,660 7 0
To gross profit for
the half-year,
after making pro-
vision for bad and
doubtful debts..

321,299 1 6

33LM9 8

£14,186,774 8 9

CR.
By cash on hand at
Head Office and
Branches
By cash plated at
call and at notice 1,397,564 12 4

£2,907,992 4 8

Investments, viz.:—
By Government and
Guaranteed Stocks 1,033,170 8 8
By other Stocks and
Securities

- 1,141,481 6 4
By discounted bills, and advances to Cus-
tomers in town and country
By freehold premises in Lombard-street
and Nicholas-lane, freehold and lease-
hold property at the Branches, with
fixture and fittings
By interest paid to Customers
By Salaries and all other expenses at
Head Office and Branches, including
income tax on profits and salaries 90,562 7 5
By special bonus on salaries under £3OO
per Annum 4,814 17 11

£14,186,774 8 9

PROFIT AND LOSS ACCOUNT.

To interest paid to customers
To expenses as above 90,562 7 5
To special bonus on salaries under £3OO
per annum 4,814 17 11
To rebate on bills not due, carried to new
account
To dividend of 6 per cent. for tho half-
year
To bonus of 61- per cent 48,743 6 '6
To balance carried forward

£334,959 8 6

By balance brought forward from last
account £13,660 7 0
By gross profit for the half-year, after
making provision for bad and doubtful
debts

X 334,959 8 6
We, the undersigned, have examined the foregoing
Balance-sheet, and have found the same to be correet.
(Signed) WILLIAM NORMAN,}
R. H. WAIVE,
London and County Bank, Jan. 25, 1866. Auditors.
The foregoing Report having been read by the Secre-
tary, the following Resolutions were proposed, and lineal-
mosly adopted :-
1. That the Report be received and adopted, and
printed for the use of the Shareholders.
2. That a dividend of 6 per cent., together with a bonus
of 6 per cent., free of income-tax, be declared for the Half-
year ending the 31st December, 1865, payable on and after
Monday, the 12th instant, and that the balance of £14,527
18s. 10d. be carried forward to profit and loss new ac-
count.
3. That Coles Child, Esq., be re-elected a Director of
this Company; that Frederick Harrison, Esq., be re-elected
a Director of this Company.
4. That William Norman and Richard Hinds Swaine,
Esquires, be elected Auditors for the current year.
5. That Robert Escombo, Esq., be elected an Auditor for
the current year.
6. That the thanks of this Meeting be given to the Board
of Directors for the able manner in which they have con-
ducted the affairs of the Company.
7. That the thanks of this Meeting be presented to the
Auditors of this Company for their services during the past
year.
8. That the thanks of this meeting be presented to
William M'Kewan, Esq., and to the Principal and other
Officers of the Bank, for the zeal and ability with which
they have discharged their respective duties.
(Signed) W. NICOL, Chairman.

The chairman having quitted the chair, it was resolved,
and carried unanimously,-
9. That the cordial thanks of the Meeting be presented
to William Nicol, Esq., for his able and courteous conduct
in the chair.
(Signed) W. CHAMPION JONES,
Deputy-Chairman.
Extracted from the Minutes.
(Signed) F. CLAPPISON, Secretary.