The Sun.
London, England, 1850-07-18 00:00:00

LONDON JOINT STOCK BANK

(THIS DAY.)
The half-yearly general meeting of the shareholders
in the London Joint Stock Banking Company was held
this morning, at the bank in Princes-street, Mansion-
house.; Mr. Taylor, chairman of the board of directors,
in the chair.

The advertisement convening the meeting, and tho
minutes of past meetings having been read, the following,
being the twenty-sixth, report, together with the ac-
counts of the bank, were submitted to the proprietors.
By the accounts which the directors have the pleasure
of rendering to the shareholders on the present occasion,
it will be perceived that the net profits realised by the
bank during the six months ending the 30th Juno last,
amount to 26,939/. 18s. 11d., which after the appropria-
tion of 18,0001. to payment of the half-yearly dividend
2t the rate of 6/. per cent. per annum, will leave a
balance of 8,9391. 18s. 11d. undivided profit to be dis-
po,;ed of at the end of the fear.

The dividend, free fromincome-tax, will be payable on
and after Friday, the 26th inst.
LIABILITIES AND ASSETS, ON THE 30TH JUNE, 1850.

Dr.
To capital p2id-up, viz., 60,000 sharez
at 10/. each ... ...
To amount due by the Bank
To amount of " the

TIIE LONDON JeINT STOCK DANK.
X. a. d

... 600,000 0 0
...2,908,149 4 10

guarantee fund," 31st
December, 1849 ... £132,723 3 8
To six months' interest
on ditto. at 34 per
cent. per annum ... 1,990 16 11

To amount carried to profit and loss ac-
count ... .1.11 00.0 .0 8

134,714 0 7

... 48,495 16 5

3,691,359 1 10

Cr. X. s. d.
By Exchequer-bills, India Bonds, &c. 637,111 15 4
By bills discounted, loans, and cash... 3,026,497 6 6
By building, furniture,
Princes.street £lB,OOO 0 0
By ditto ditto ditto
in Pall-mall

... 9,750 0 0

27,750 0 0

£3,591,359 0 10
PROFIT AND LOSS ACCOUNT OF THE LONDON JOINT
STOCK BANK, FOR THE HALF•YEAR ENDING 30TH
JUNE, 1850.
Dr.
To current expenses, proportion of
building expenses, directors' remune-
ration, bad debts, income-tax, &c
To amount carried to profit and loss,
new account, being rebate of interest
on bills discounted not yet due
To dividend account for the payment of
half-a•year's dividend, at the rate of
6/. per centum per annum, upon
600,0001., amount of paid-up capital
upon 60,000 shares
To balance, being undivided profit for
the half-year

.C. r. d

14,328 11 5

7,227 6

18,000 0 0

8,939 18

£48,495 16 5

Cr. .E. B. d.
By balance brought down

£48,495 16 5
The CHArnmAx then declared the dividend payable
according to the report, and afterwards moved the adop-
tion of the report, which was seconded by
Mr. Deputy CORNER, who considered the report was
highly satisfactory, and he had much pleasure in sup-
porting the motion for its adoption.
Mr. JOSIAH Wu.sort reminded the shareholders that
their rest was now a very handsome olie, and he would
suggest to the board the propriety of discontinuing the
practice of giving bonuses, and increasing the dividend.
The rest was established for the purpose of accommodat-
ing the dividend, that was increasing it when it should
fall below 61. per cent. Now, it was not likely that
such an event would ever arise, and as the rest was in-
jured by increasing, he-thotight it was desirable that
the bonus system should be abolished, and a permanently
increased dividend adopted, say 7f per cent., which
could be augmented whenever occasion should arise, by
taking from the interest of the rest.
Mr. HODGSZINS did not think it would be a wise pro-
ceeding to carry out the proposition of the Hon. Pro-
prietor, because on three occasions, at no remote period,
the directors were compelled to have recourse to the rest
to make up even the 61. per cent. dividend. The guaran-
tee fund he admitted was quite large enough, but still he
did not wish to see it reduced, nor was he desirous of
having the bonus system abolished.
Mr. WILsoN insisted that his plan would not reduce
the rest. At present they divided a bonus annually, and
all he wanted was that the bonus should be added to
dividend to make it fixed and certain.

Captain PALENTIAN hoped the directors would let
well alone. He had recently returned from Italy, where
the bank was held in high esteem, solely he believed
from its always maintaining a handsome rest. In his
opinion 6 per cent. was not to be sneezed at. It was
more than could be got from the Government securities,
and he for one thought they would best exhibit their
wisdom by remaining contented with their present
position.
The resolution for the adoption of the report was then
put and carried nem. con., after which thanks were voted
to the directors and r. Pollard, the manager of the
bank, and the meeting terminated.

MASTER BOOT AND SHOEMAKERS' PROVIDENT
AND BENEVOLENT SOClETT.—Yesterday evening a meeting
of the members and committee of the above society was held
at the Freemasons" Tavern, for general business ; Robert
Taylor. Esq., president, in the chair. The annual statement
showed that there are at present ten annuitants on the fund,
viz., eight men at 201. and two women at 15/. each per
annum. The receipts for the last year from all sources
amounted to 3,9721. Bs., the expenditure, including the stun
expended on account of the building, the new asylum at
Mortlake, surrey, left a balance for the current year of
6211. 14s. 4d. The asylum has been completed. and will be
opened for the reception of inmates in August next.
EXHIBITION FOR 1851.—We understand that the
Building Committee has accepted the tender of Mr. Paxton
to erect in ilyde.park a building composed chiefly of iron
and glas., similar to the plan given in the Illustrated News.
To the height of eighteen feet from the ground the erection
will be const ucted of wood work, and arrangements have
been made to provide complete ventilation and secure a
moderate temperature. The building will be commenced in
about a week's time.

STANIFORD•HILL HORTICULTURAL SOCIETY. -
The second flower show of the above society took place yes-
terday afternoon in the grounds of Arthur Craven, Esq., and
the visitors were both numerous and fashionable. The ex-
hibition itself was not remarkable for the numerical extent
of the specimens, but those which were on view were ex-
tremely fine, and quite equal in character and beauty to any
that have been recently displayed at the more pretentious
shows in the Regent's-park and the Chiswick-gardens. The
awards were granted for pelargoaiums, fuchsias, ericas,
verbenas, oleanders, cockscombs, roses, greenhouse plants,
and cut flowers; besides various fruits and vegetables. The
company, however, seemed to care less for the horticultural
show than for the pleasure of walking about the grounds
attached to the mansion of Mr. Craven, whose domain is
probably not equalled for scenic beauty and variety of effect
in the neighbourhood of London. Ihere are some fifty or
sixty acres of lawn and shrubbery laid oat in the most
charming manner—every artifice that good taste and inge-
nuity could devise having been thought of to produce a
series of picturesque ensembles: The band of the 2d Regi-
ment of Life Guards were in attendance under the direction
of Mr. Grattan Cooke.

AMUERGATE, NOTTINGHAM, BOSTON, AND EAST.
Els Jusierros: ItArr.walr.— The opening of this line took
place on • „or Mdav a distance of 2:3 miles, 20 of which are
tnila new line of rails, the remainder on the Midland Coun-
es. The directors have arranged that four trains up and
down on week days, and two trains each way on Sundays,
should run till further orders. The first train from Gran-
tham left at Bh. 40m. A.M. ; on its reaching Bottesford and
Bingham crowds of well-dressed persons had assembled to
witness the first passenger train arrive, flags flying, music
playing, and everywhere preparations making for a general
day of pleasure and festivity. At Grantham dinners were
given to the directors and friends, as well as to the various
workman, the chief one being at the Town. hall, the Mayor
of Grantham in the chair, at which more than 200 sat down.
AstERICA.—LIVERPOOL JULY 17.—The American
mail steam-ship Pacific, Captain Nye, arrived here this
g left that port on the 6th
morning from New York, Navin
instant. He! advices have been anticipated by the tel gra-
phic news, rid Halifax, received yesterday morning. The
Pacific has brought 55,0001. in specie on freight.
SuUTHAMPTON, WEDNESDAY MORNING. The
United Stales mail-steanfer- Hermann, Captain Crabtree,
arrived here this morning .from Bremen, en route :to New
York.

M4iNEY and COMMERCIAL NEWS.

CITY, TWO O'CLOCK.

---
The Cotton Market at Liverpool was steady, and a
good hu.iness %Ai done, the sales being estimated at
from 18,000 to 20,000 bales, of which 1,000 Am.-titan
were taken for export, and 3,000 American, 2,000 Bra-
zilian, 500 Egyroi4n, and 2,000 Surat on speculation.
Prices of all kinds are id. p,r lb. higher than on Friday
last. The sales cornprii,d 3.000 Pernam and Maran-
had at 'lid. to Sid., 500 Bahia at Bkl. to 8-IJ., 1,000 Egyp-
tian at Bd.•to 9d., 3,000 Surat at -lid. to 6F1., and 150
Sea bland at is. 2d. to Is. 11d. per lb.—Railway Shares
were fist, with the exception of Midland Stock, which
was rather firmer.

The sales of corn in the market which govern the offi-
cial averages continuo small. The six weeks' average
price is 40,. 6d. per quarter for wheat.
The following are some particulars of the corn
trade in the United States, as furnished in the latest
xdviecs :
`• From the knowledge dealers have cf the present re-
sources of the country, they can calculate with some
degree of certainty how near the receipts of the en-
suing months will afproximate to those of 1848
and 1849. Much, however, depends upon the harvests.
Late accounts from the south and west are more satis-
factory in relation t ) the growing crops, and the
prospects at present are certainly very favourable for a
full yield.

" Up to the Ist of July the receipts of breadstuffs at
tide-water were much b•SS than those to the corre-
sponding period in 1849; and it is very probable that
fur the remainder of the season the arrivals will be
correspondingly less, even in the cleat of the harvests
provieg more abundant than those of last year, from
the fact that the Western country has been so com-
pletely cleaned out of all surplus stock, that larger
quantities of the new crop will be required to supply
the consumption of the grain growing sections of the
country. The producers will not be able to sell such
a large portion of their crops as usual. The table of
imports at Buffalo, via the lake, from the opening of
navigation up to the Ist of July, in each of the past
three seasons, exhibits the scarcity of flour arid wheat
in the country west of that port.
" The receipts of Indian Corn were in excess of those
last year. Reducing the wheat to flour, and the falling
off this year compared with last, to the Ist of July, was
(lust to 566,181 bbls. this gives a pretty correct idea
of the condition of the west, so far as a supply of bread-
stuffs is concerned."

There are private accounts from the Dardanelles,
which state that the locusts along the whole coast of
Asia Minor, from Smyrna to Broassa, had destroyed the
crops, and that the farmers had been compelled to gather
in the corn before it was ripe, for the sake of the straw.
Upon former occasions we have adverted to the im-
portant benefits to be expectei from the extension of the
system of joint-stock banking, so as to accommodate
a class of persons who had no opportunity of depositing
their small balances where they could withdraw thew
when required. The Royal British Bank having offered
this accommodation, its success is a matter for congratu-
lation, and the publicity which it gives tp its operations is
an excellent guarantee of bona fide management. The
last gazetted return is as under:—