The Sun.
London, England, 1861-01-16 00:00:00

TWENTY-FOURTH REPORT of the
DIRECTORS of the COMMERCIAL BANK of LON-
DON, for the Half-year ending December 31, 1861.
At a HALF-YEARLY GENERAL MEETING of the
Shareholders, held at the Banking-house, Lotiibury, on
TUESDAY, the 15th January, 1860.
DIRECTORS.
MARK HUNTER, Esq., Chairman.
John Alfred Chowne, Esq. Sir Joseph Paxton, M.P.
James Clay, Esq., M.P. Robert Stacey Price, Esq.
George Clive, Esq., M.P. Iverbert Taylor, Esq.
Jonathan Hopkinson, Esq. I Joseph Thompson, Esq.
William Jackson, Esq., M.P. I Thomas Winkworth, Esq.
MANAGER—Mr. Alfred Richard Cutbill.
SOLICITORS—Messrs. Upton, Upton, and Johnson, and
Messrs. Norris and Son.

Present—Thirty-five Proprietors.
The advertisement calling the meeting was read, and after-
wards the following
REPORT.
The Directors present the balance-sheet for the half-year
last passed, which the proprietors will see exhibits a net un-
appropriated profit of £17,109115. ld., after providing for bad
and doubtful debts, and paying all the charges of manage-
ment.
This enables the Board to declare a dividend at the rate of
£8 per cent. per annum, on the paid-up capital of the Com-
pany for the six months ending on the 31st of last December,
free of income-tax.
The balance of £517 ss. sd. will then remain, after allowing
£4,592 ss. Bd. for rebate on bills not yet due, to be carried to
the credit of the current half-year.
The dividend will be in course of payment on and after the
28th inst.
Jan. 15, 1861.
COMMERCIAL BANK OF LONDON.
BALANCE-SHEET TO DEC. 31, 1860.
Dn.
Capital subscribed .............. £1,500,000
Capital paid-up, £2O each on 15,000 shares.... £300,000 0 0
Guarantee .. 75,000 0 0
Balances due to the customers of the pa. 908,624 15 4
Balance of undivided profit, 38th
June, 1860 ...... •.•• • • • - £551 2 0
Net profit for the half-year end-
ing 31st Dec., MO, atter pay-
ing income tax and deducting
all charges and expenses, and
making provision for bad and
doubtful debts. ...... ......... 16,558 9 1
Balance carried down

17,109 11 1

£1,300,734 6 5

CR.
Cash in the bank and at call, at the Bank of
England, Exchequer Bills, India Bonds,
and Government Securities 191,138 16 11
Bills ei mounted, loans on stock, and other se-
strong-room, fittings, and furniture (premises
held on lease)

1,106,595 9 6

3,000 0 0

£1,300,734 6 5

Dividend at the rate of XS per cent. per an-
num, for the half-year ending 31st Dec.,
1890.... .............
Rebate of interest on current bills carried to
4,592
profit and loss new acc0unt.......... ...... 6 8
Balance carried to next half-year........

217,109 11 1

Balance brought down
The Report and Balance-sheet having' been read, it was
resolved "That the Report and Balance-sheet just read be
approved, printed, and circulated amongst the Proprietors."
The Chairman, John Alfred Chowne, Esq., on the part of
the Directors, declared a dividend on the paid-up capital of
the Company at the rate of £8 per cent. per annum for the
past half year, free from income tax, payable on and after
3londay, the 28th instant.
Resolved—That the thanks of this Meeting be presented
oChairman and Directors for their attention to the affairs
the bank during the past half-year.
Resolved—That the thanks of the shareholders be given to
the Manager, Mr. Cutbill, and the other officers of the bank.
JOIN ALFRED CIIOWNE, Chairman.