The Sun.
London, England, 1861-02-08 00:00:00

Aunrron—Henry Edmund Gurney, Esq.
SOLICITOR—J. F. Elmslie, Esq.
ACTING SECRETARY—Mr. Bramston.
CONSULTING COMMITTEE Thomas Bazley, ESQ., M.P. ;
Thomas Clegg, Esq., Manchester ; Hon. Rd. Hill, John
Nethersole, Esq., Rev. John Clarke, Frederick Vinen, Esq.,
and Christopher Codrington, EA., Jamaica.
The chief originators of this Company are persons who have
long lived in the West Indies, and acquired great experience
as to the capabilities of those colonies, especially Jamaica, to
Prodime an abundant supply of good and cheap cotton. 0,10-
talTtition and experience convince them that it the landed
Proprietors in that country, the capitalists in England, the
IT.iannfacturers of' Lancashire, and the friends of frekdom
'generally, can be brought into harmonious co-operaticin, and
their energies are directed to the growth of cotton. first in
,
Jamaica, and afterwards in Guiana, Trinidad, and
'
We shall soon be independent of the slave States of America,
and obtain a sufficient supply of good cotton by rdeans of free
labourers.
.
It is, therefore, intended to set on foot w; thout dela an
experiment in Jamaica, the extent, probabl,e cost, and pro-
ceeds of which, together with a map of a :Jr.ardaica estate, and
the opinions on the subject of many very
stinguished states-
men, capitalists, and manufacturers, wil, be furnished to a
plicants, in a detailed prospectus, at 55j, Charing-cross, Lonp-
don ; at Messrs. Thomas Clegg, and Co 's, 1, Mount-
street, Manchester; or at Mr. W
m. Chater's, Lowestoft,
Suffolk, to (either of whom appli.cation for shares should be
forthwith made.
The amount of shares alreaex-
y subscribed is somewhat le's
than the sum necessary to.. 'lnsure the success of an experi-
ment with only 500 acres Or land (which will be X.,5,000); and
in ease no more than thiB -should be subscribed, the experi-
ment 0111 be commenced at once on this scale. Cotton to a
considerable extent is now being sown in Jamaica, in antici-
pation of the operations of the Company, and it is believed
that new cotton from thence will be in the market before the
Ist of August next.

-LONDON AND COUNTY BANKING
COMPANY.
Subscribed Capital, £1,250,000, in 25,000 Shares of £5O each ;
Paid-up Capital, X 500,000; Reserve Fund, £llO,OOO.

DIRECTORS.
Thomas Tyringham Bernard, John Fleming, Esq.
Es q., M.P. Edward Huggins, Esq.
Phi lip Patton Blyth, Esq. I Wm. Champion Jones, Esq.
Joion Wm. Burmester, Esq. James Laming, Esq.
Ca.►arles Salisburyßutler, Esq., Johan Benry Lance, Esq.
M.P. William Lee, Esq., M.P.
'William Cory, Esq. William Nicol, Esq., M.P.
GENERAL MANAGER—WiIIiam Miliewan, Esq.
Head Office, 2!, Lombard-street (at present temporarily at
the South Sea Rouse, Threadneedle-street).

REPORT
Presented to the Shareholders of the London and County
Bank, at the Half-Yearly Meeting, 7th February, 1861.

WILLIAM NICOI,, Esq., 11f.P., in the Chair.
Your Directors have the satisfaction to lay before the Pro-
prietors of the Bank a at atement of its affairs for the half-
Tear ending the 31st P eeember last.
From the balance-,.heet placed before you, which has been
duly audited, it world be apparent that the net profit of the
Bank for the half :year, after the several deductions of ex-
penses (including income-tax), rebate, interest to customers,
and making the required provision for bad and doubtful debts.
amounts to £,48,728 lie, lid, including the balance brought
forward frail', the previous June of £8,708 19s. 7d.
From the above the Directors recommend that a Dividend
be now dxclared of 6 per cent. for the last half-year, free of
Income-tax, which, with 5 per cent. already paid, will make
2,1 per cent. for 1860. Your Directors propose a further
Addition of £15,000 to the Reserve Fund, and to place the re-
mainder, £3,728 14s. 11d., to the credit of Profit and Loss New
Account.
In consequence of the lamented decease of James Andrew
Ibirham, Koci., early in November last, the Directors have to
.announce that the vacancy thus occasioned has been filled up
by tha.election of Charles Salisbury Butler, Esq., M.P., to a
Seat at the Board.
The Directors retiring by rotation are— V
John William Burmester, Esq.,
John Fleming, Fsq., and
William Champion Jones, Esq.,
all of whom are eligible for re-election, and offer themselves
accordingly.
The Dividend will be payable on and after the 18th instant.

BALANCE SHEET OF THE LONDON AND COUNTY
BANKING COMPANY, 31st December, 1860.
DR.

To Capital paid-up
Reserve fund llO,OOO 0 0
Amount due by the Bank for Customers'
Balances, &c
Profit and loss balance

brought from last account. £8,708 19 7
Gross profit for the half year
after making provision for
' bad and doubtful debts .. 134,721 1 7

143,430 1 2

£6,286,014 15 6
CR.
11 Cash on hand at head office
and Branches £645,030 1 11
Cash placed at call and at no-
tice 555,320 14 5

1,201,259 16

Investments,:viz. :
Government and Guaranteed
Stocks
Other stocks and Securities

725,150 17 5

,scounted Bills, Nrdtes, and
temporary advanoes to Cus-
tomers in town, and coun-
try 3 828,852 11 7
Advances to Customers on
special sec.orities
F hold

4,196,652 11 9

'reehold premises in Lombard-street and
Nicholas-lane, freehold and leasehold
property at the Branches, with fixtures
and fittingli 80,299 11 5
Interest paid to Customers 32,391 19 8
Salaries and all other expenses at Head
Office and Branches, including income tax
on profits and salaries

50,280 15