The Sun.
London, England, 1850-06-20 00:00:00

EVENING,

BANK OF AUSTRALASIA:

The annual meeting of the proprietors of the above
company was held on Monday at the offices, Austin-
friars ; Mr. Brownrigg, M.P., in the chair. The ad-
vertisement by which the meeting had been convened
having been read,
Tbe annual report of the directors was submitted.
The directors said they had the pleasure to state that
satisfactory progress had been made in the ciolony to-
wards realising the debt due by the Bank of Aus-
tralia, and to express their conviction that the whole
amount of the judgment would in a moderate space
of time be paid; they had, therefore, brought to ac-
count the amount of interest and costs recovered at
Sydney—namely, 65,1821. ss. ld. Against the few
English shareholders of the Bank of Australia who
bad declined to enter into terms of arrangement the
directors had steadily pursued their course ; and, al-
though they had been met by every device that legal
ingenuity could suggest, they had in the only. case
which had been heard obtained the unanimous judg-
ment of the Court of Common Pleas overruling all the
objections that had been raised, and leaving as the only
point for decision the simple question of fact, whether
the party sued were a shareholder or not. The directors
had since come to terms of compromise in the case
referred to, and were still ready, as they had always
been, to make arrangements with the other parties
against whom proceedings were pending. In the tenth
paragraph of their report last year the directors stated
the extent, according to the best estimate they were
able to make, of the probable losses of the bank, in
addition to the sum then available as the balance of
the bad debt fund ; and acting upon that view, the
following would show the result:—At 16th October,
1848, the estimated deficiency, after applying the bad
debt fund of 82,018/. 15s. 7d., was 49,0091. 10s. 10d.,
against which had been placed the interest on the
bank of Australia, debt and costs, 65,1821. ss. ld.,
leaving a surplus according to that estimate, of
16,172/. 14s. 3d.; to this were now to be added the
net profits in the colonies, and in London, for the
year ending 15th October, 1849, after deducting ex-
penses of management, 54,3301.115., less irrecoverable
debts written off in the year in the colonies in excess
of former estimates, 6,284/. 17s. Bd., and dividend of
12s. per share Ist October, 1849, 13,5001., together
34,5451. 3s. 3d., which added to the 16,172/. 4s. 3d.,
left a balance at the 15th of October, 1849, of
50,717/. 17s. 6d. The assets and liabilities ef
the bank at the same period stood as follows:
Assets Government stock, specie, and cash,
448,3521. 3s. 5d., bank premises, 24,2991. ls., bills
receivable and other securities 1,299,822/. 18s. Sd.,
together 1,772,534/. 2s. 10d. The liabilities were--
Capital, 900,0001. circulation, 106,465/., bills pay-
able and other liabilities, 245,423/. 4s. 2d., deposits,
469,928/. is. 2d., profit and loss, 50,717/. 17s. 6d.,
together 1,772,534/. 2s. 10d. The directors, since
their report in June last, had received advices and
valuations from the colonies, which led them to
anticipate a considerable addition to the losses then
estimated by them upon old dependencies, not how-.
ever to such an extent as to render it necessary to
interrupt the payment of dividends, although the
effect must be to continue it low rate longer than had
been hoped and expected. The disappoinment which
was felt at the result of the estimates referred to bad
determined the directors to abstain for the future from
laying any fresh valuations before the proprietors, but
to write off the actual amount of loss ascertained as
each dependency was wound up. They had also re-
solved to appropriate the surplus yearly profits, after
paying dividends, to meet such contingencies ; and as
the current business of the bank was of a healthy,
profitable, and improving character, the directors
entertained a confident hope that ere long they would
be justified in increasing the dividend to tour per cent.
per annum, but they were of opinion that this rate
should not be exceeded until the securities held by
the bank were either realised or all question as to
their depreciation set at rest. The October dividend,
however, would be continued at the present- rate of
12s. per share, free of income-tax.
A motion for the adoption of the report having been
made and seconded,
Mr. Sergeant GASELEE objected that the accounts,
as given above, were not sufficiently set forth in de-
tail, and suggested that, at least, the various items of
expenditure should be stated.
The CHAIRMAN said that the statement of accounts
was in the form that had been regularly laid before
the proprietors for the last 15 or 16 years, and that
much injury would result from too detailed a state-
ment of the assets and liabilities of a banking es-
tablishment.

After considerable discussion the report was
adopted.
Mr. Sergeant GASELEE then moved that the dim..
tors be requested to publish a more detailed statement
of accounts, and that the annual report of the directors
be forwarded to the proprietors seven days before the
annual meeting.
The resolution, having been seconded, was put from
the chair and lost.

A vote of thanks was given to the chairman, and
the meeting broke up.

THE QUEEN OF THE BELGIANS.—DOVER, JUNE 19.
—The town of Dover may well feel proud of the achieve-
ment of to-day, in effecting the embarkation and immediate
departure of her Majesty's mail packet Vivid, Commander
Smitheft, with the Queen of the Belgians and suite, for Os-
tend. The hour appointed for the departure of the royal
party happened to be that state of the tide known as " dead
low water," which in all times past at this, as well as all the
neighbouring ports, rendered it impossible for vessels to
leave the harbour; but through the unprecedented progress
and successful construction of the new Admiralty Pier, and
the kindness, exertion, and facilities of the Messrs. Lee, the
contractors, and their assistants, upon this occasion, this, the
swiftest steam-boat afloat, took on board her august 'Amen"
gets and luggage at the new pier, at a point about four hundred
feet from the shore, and where it was ascertained, at low
water, that the soundings enabled Captain Smithett to move
off in gallant style, amidst the universal Appian" °e the
greatest concourse of people that has been assembled ,is
Dover for many a long day.
He that considers how little be dwells upon the
condition of others will learn bow little the attention of
others is attracted by lime •h. lf Cook's lournql.
—bileabue.
eihSirbe.itsitiornOltofto
tHhismsoLcifletoyawl'aslCUhLoTsdUß.yaesLtZeaCylil.nTtThe.
were
tiful grounds of Josiah Wilson, E q
. of the groundsmost elegant
thronged by a very
An immense marquee in beautiful order. Here, and
company, and the weather]assemblageergewuwasmopsittephreodp itutudserfor
whichthe oc-
casion.the
eflowers &c., were arranged .
promenaded
s and flower's flowers for
ofm al e r
viewingi m etnhsei ovnasr, theou s companyplaht
awarded. Among some of the most
I al
tea-scented admit),
beautiful specimens were adnoduazamoia,npositifolia, from the
whichforunderth °RP
prizes had °ohsfeasd been
Cape of Good .
va beautiful
di shi a a variety
xllt extra seedlings,eo;fafigellB iaC
falc:oPlbaarlieaxs,isabvuarmieitliPoefrivateliteua:-
&ecn. The geraniums were magnificent, and occupied the lei •
side of the vast marquee (on entering) nearly the,whple
length. We observed also twelve beautiful' pinks which
were exhibited by Mr. Gaby. The show, on the wholi, was
one which was highly creditable to the society. The scene
on the lawn was a very animated and pleasing one, and the
pleasure of the day was much enhanced by the performance
of the band of the 2d Regiment of Life Guards, under the
direction of Mr. Grattan Cooke.
The West India and Peninsular Mails were not
dispatched on Tuesday from the General Post-office in time
for the mail train, which leaves the Waterloo station at 10.30
A.M., in consequence of the pressure of business in that
office, consequent on the arrival of the American mail. The
first-mentioned mails were therefore dispatched by the 11.45
A. 31. express train, which stops fur the first time at Bishop-
stoke. A Queen's messenger, with dispatches for her Ma-
jesty was in a second-class carriage; and, when the train
stopped, and while he was standing and gathering up his
dispatches, a couple of carriages were driven against the
train, and the messenger was thrown violently on the ledge
of the back-board, and immediately
ha
fainted
tahweatyr..aihAs,
said
dootno
as the accident was known, a g
be Lord Adolphus Fitzclarence, immediately rushed to the
spot, and secured the dispatches. The messenger was taken
out and laid on the platfbrm, and, by the application of cold
water, he recovered his senses, and stated that his ribs were
broken. He was then taken into the station, 4d a surgeon
who happened to be in the train waited on him: Before the
train proceeded Lord Adolphus gave the dispatches to the
train. guard, who conveyed them to Osborne House from
Southampton, in the Elfin royal yacht, estich was In waiting
at the latter place OE the messenger,