The Sun.
London, England, 1868-01-29 00:00:00

lIE NATIO
(Establish,
Capital Subscribed, £2,500,
Eest or ITudivided
DIREC7

Jeremiah Dunne, Esq.
Peter 31‘Evoy Gartlan, Esq.
B. H. Hartley, Esq.
F. B. Renshaw, Esq.
Sir Ralph Howard, Bart.
Harvey Lewis, Esq., 31. P.
Admiral Sir Burton Mac-

)N AL BANK.
Led 1835.)
,000. Paid tip, £1,500,000.
L Profits, £543,8 39.
Sir J. N. 11cR anna, M.P.
lion. Albert 1' Petra.
Albert Ricard.o,
Rowand Borkald, Esq.
Samuel Saunders, Esq.
J. Bogle Smith, Ea q.
Edmunt..l Sinithwit :k, Esq.
PhilipVa."Worhyl, Esq., M.P.

Namara.
David Mahony, EEq.
REPORT of the Directors of the NATI OIiAL BANK
to the Proprietors at the THIRTY-TR LED ANNUAL
GENERAL MEETING, held at the B; mk, Old Broad-
street, 28th January, 1868—
Sir J. N. M'KENNA, M.P., in the Chair.
The Directors of the National Bank hay ,e the pleasue
of resentinto the Proprietors the Thirt. r-third Annual
Report of the state of the Society, made up to the close of
1867.
In July last the Directors submitted to :.he, Proprietors
their report for the half year ending the 30th June ; their
preseet statement incorporates the profit and loss account
for the two half years of 1867, agreeably wi th precedent
heretofore observed.
The dividends and extra dividends payabl 3 for the
paid
r
1867 have been declared at the same rates ;.as those
for 1866. •
The following, accounts in the usual fora t exhibit the
state of the Company's affairs at the close of 1867 :

ASSETS and LIABILITIES.—The N,,E TIONAL
BANK, 31st December.
Cu. ASSETS.
Gold and silver coin at Branches £560,025 12 8
Cash on hand and at the Bank of England 630,5`,. 2 0
10
10
Advances on securities at call._ 75127b. 9
Government funds, Exchequer bills, Ex-
chequer bonds, and debentures 333,12G 3 7
Ditto advanced, parliamentary and other
deposits 12,505 0
0
Advances on securities at sundry date;
and current accounts 2,312,240 13 5
Bills discounted . 3,612,319 3 D
Bankers' guarantees and Securities held
against acceptances per contra lBB,lBl 0 0
Bank premises in London, Dublin, and
Branches, freehold and leasehold 185,197 2 2
____----

£3,615,993 19 3
Di. 1 LIABIL IT IE S.
Notes in circulation
Due by the Bank on deposits and current
5284,496 5 6
accounts
Acceptances to bankers' drafts and on
0 0
security 188,184
Capital paid up £:1,500,000 0 0
Rest or undivided profits
at this date
--- 2,043,889 13 9

£8,615,993 19 3

PROFIT and LOSS ACCOUNT of the NATIONAL
BANK, for the year ending 31st December, 1867.
1867.
Jan: Half-year's dividend
at 8 per cent- per
annum £60,000 0 0

With extra dividend,
16s. per share 40,000 0 0
-.- £lOO,OOO 0 0

Half-year's divi-
dend at 8 per
cont. per an-
Until
With extra divi-
dend, 16s. per
share 40,000 0 0
100,000 0 0

Dec.3l. To balance, being the amount of
rest at this data

£743,889 13 9

Rest or undivided profits at December,
1866 •4 £560,254 2 11
Net profit for the half-
year to 30th Juno last £1.01,338 10 5
Net profit for the half-
year to 31st Decem-
ber, 1867, after writ-
ing off all bad, and pro-
viding for all doubtful
debts... £93,045 0 5
Loss rebate
of inte-
rest on
bills not
duo
82,297 0 5
--- 183,635 10 10

£743,889 13 9
ALBERT RICARDO.
Examined and found correct, ROWAND RONALD.

Since these accounts were made up, a dividend at the
rate of 8 per cent. per annum on the paid-up capital of the
Bank, and an extra dividend of 16s. per share, together £2
a share, have been declared on the 50,000 shares which
constitute the Company's capital ; and the same are
now payable at the head offices and branches of the Com-
pany. The dividend and extra dividend now payable for
the half-year ending 31st December, 1867, amount together
to £lOO,OOO.
The Directors desire to state that the decrease in the
profits of the half-year is solely due to the low rates which
have prevailed for money, particularly on discounts and
advances on securities in the City of London.
The deposits and creditor balances of customers have
increased in the year by £115,-163, and the circulation is
also slightly in excess of the amount at the close of 1866,
showing that, notwithstanding the general stagnation of
business, there is actual progress to record in some of the
most important departments of the business of the Bank.
As " the hest," which is available to a reasonable ex-
tent to equalize dividends, has been considerably aug-
mented on the avenge of the last four years, the Direc-
tors, in view of the exceptionally low rates of interest
which have prevailed for the past half-year, do not con-
sider it advisable to vary the ordinary dividend and extra
dividend.
The Directors who retire by rotation this year are James
Bogle Smith, Esq., Frazer Bradshaw Henshaw, Esq., and
Sir Joseph Neale APKenna M.P. who, being eligible,
offer themselves for re-election. Admiral Sir Burton
MacNamara, who has been appointed to a seat vacated
since last meeting, also retires by rotation, and being
eligible offers himself for re-election.
Since the last Annual General Meeting three vacancies
have occurred by the retirement of their respected col-
leagues, James Allan, Esq., John O'Meara, Esq., and
Thomas William Bough, Esq., to whose vacant seats the
Directors have nominated respectively, Peter McEvoy
Gartlan, Esq., the Honourable Albert Henry Petre, and
Admiral Sir Burton MacNamara. The appointments of the
two former gentlemen, Mr. Gartland and the Honourable
Albert H. Petre, who do not retire by rotation, require
confirmation by the shareholders.
Since the close of the year the Directors have determined
on opening at Notting-hill their Sixth Metropolitan
Branch, at the request of some of the most influential in-
habitants of the district.

Approved by the Court,
ALBERT H. PETRE, Chairman.
London, Jan. 24, 1868.