The Sun.
London, England, 1861-01-17 00:00:00

No. 21,375.

rrWENTY-FIFTH REPORT of the UNION
BANK of Li ONDON.
At a Half-yearly Meeting of the Proprietors, held at the
Court-room of the Banking-hvase 2, Princes-street, Mansion
House, on Wednesday, the Ifitl of January, IS6I,

P. NORTHAII LAURIE, Esq., ill the Chair,

The following Report was re•ad by the Secretary :
The Directors lir.ve the pleasure of reporting that the net
profits of the Bank for the six months ending 31st December
last, being the first half of this Bark's financial year, after
payment of al charges, and including the sum of £69,855 Os.
for interest paid and due to c astomers on their Current and
Deposit Accounts, and makin g ample provision for all bad and
doubtful debts, amount to £ 63.063 its. tql., which, with the
sum of £3,406 ISs. 4d., brought forward from the 30th of June
last, leaves fur appropriation. £60,470 iSs.
The Directors now declare a dividend of 12s. per share, clear
of Income-tax, fur the six months ending 21st December last,
amounting to the sum of £36,000, which will leave a balance
of £30,470 ISs. of undivided profit to be carried forward.
The Directors greatly regret that W. Scott Ilinny; Esq., has
been obliged, by impaired health, to resign his seat in the
direction ; and in accordance with the provisions of the Deed
of Settlement, they have elected John Gilchrist, Esq., a duly
qualified Proprietor, to supply the vacancy.
THE UNION BANK OF LONDON,
For the Half-year ending 31st December, 18G0.
GENERAL BALANCE.
LIABITAITIES. _ _

.....
Paid-up capital of the bank .... £720,000 0 0
Deduct amount debited to capital account,
per resolution of General Meeting-, 11th
July, 1860

X 600,000 0 0

Due by the bank on current accounts. deposit
receipts (including interest accrued), and
other obligations
Rebate on bills not due
Balance at credit of profit and loss

£11,037,288 11 4

A s EMS. .
Cash in the bank £334,914 13 ?
Cash in Bank of England.... 61:',9.09 17 7
Cash lent at call

£1,800,92411 2
057,768 17 10

Investments in Government Stock, Exche-
quer Bills, City Bonds, Debentures, &e.
Bank premises, consisting of f eehold build-
ings in Princes-street, Mansion-house-
street, Arxyll-place, and Fleet-street ; and
lease and fixtures of No. 4, Pall-malt East 108,774 4 15
Loans, bills discounted, Sze.

£11,037,288 11 4

PROFIT AND LOSS ACCOUNT.
Amount of dividend of l2s. per share £36,000 0 0
Balance, being. undivided profit carried for-
ward to next half-year

30,470 18 0

£66,47018 0

Profit unappropriated on 30th June, 1860
Amount of net profit for the half-year end-
ing 31st December, 1860, after deducting
all expenses, and interest paid or due
(£69,855 Os.), allowed to customers on their
current and deposit accounts

£3,406 18 4

63,06310 8

£66,470 18 0
The Chairman then declared a Dividend for the past Half-
year of 12s. per Share, clear of income tax.
It was resolved unanimously—
That the report now read be agreed to, printed, and circu-
lated among the proprietors.
That the best thanks of the meeting be given to Sir Peter
Laurie, the Governor ; the Deputy Governor, and the Direc-
tors, for their judicious management of the bank during the
past half-year.
That the thanks of the meeting be given to Mr. W. W.
Scrimgeour, the General Manager; Mr. Barton, the Deputy
Manager; Mr. Ingpen, the Manager of the Regent-street
Branch; Mr. St. 13arbe, the Manager of the Charing-cross
Branch ; Mr. Beattie, the Manager of the Temple-bar
Branch ; and to Mr. Newmarch, the Secretary, for the zealous
and efficient manner in which they have discharged their
several duties.

(Signed) P. NORTHALL LAURIE, Chairman,
That the thanks of the meeting be given to P. Nerthall
Laurie, Esq., for his conduct in the chair this day.
(.Signed) JAMES FARQUHAR, Deputy Governor.

Extracted froM the Minutes,

HENRY NEWMARCH, Secretary.( 1
N.B.—The Dividend and Bonus will be payable on and after
Monday, the 21st instant.