The Sun.
London, England, 1868-01-25 00:00:00

CIONSOLTDATED BANK (Litnited).--At a
J General Meeting of the Proprietors, held at the Lon-
don Tavern, Bishopsgate-street, in the City of London, on
Thursday, 23d January, 1868, JOHN PENDER, Esq., in
the Chair, the following Report was presented :
In laying before the shareholders their usual half-yearly
statement of accounts, the directors wish to draw attention
to the gQneral stagnation of trade and to the low rate of
discount which have prevailed throughout the last six
months.
The bank has, during that period, made steady pro-
gress, and the number of its customers exhibits a continu-
ous increass.
The accounts show that, after payment of all current
expenses, interest to customers, rebate of interest on bills
iu hand, income tax, and directors' remuneration, there
remains a net profit for the six months of £27,263 9 1
To which has to he added the balance from

last half-year of B,lBB 4 7

Making a total of
This sum it is proposed to appropriate as follows :
To the payment of a divi-
dend, for the half-year, at
the rate of 5 per cent. per
annum, free of income
tax
To reserved surplus fund
(which, with interest
already added, will then
amount to £100,000) 3,100 0 0
To special reserve fund
(which will then be
X 20,000)
Carrying forward to next
account the balance of
_ £35,451 13 8

It will be seen that in pursnance of the precautionary
policy set forth in their last half-yearly statement, the di-
rectors have added a further sum of £lO,OOO to the special
reserve fund.
The directors have to lament the death of one of their
most valued colleagues, Mr. James Aspinall Turner, the
late deputy-chairman of the bank. His services to this
institution, from his first connection with it to the period
of his death, merit their ample and.grateful recognition.
The post thus rendered vacant has been offered to, and
accepted by, Mr. Murray Gladstone.
The directors retiring by rotation are Messrs. Matthew
Curtis, Thomas Fairbairn, Edward Ryley Langworthy,
Ivie Mackie, and John Pender. These gentlemen being
eligible, will be proposed for re-election.
The meeting will also be invited to elect two auditors.
Messrs. David Chadwick and William Cooper offer them-
selves for re-election.
The dividend warrants will be payable on and after the
Ist February next.

J. P. HEYWOOD, Chairman.

BALANCE SHEET, DEC. 31, 1867.
Dn. LIABILITIES.

To capital paid up: 200,000 shares of £4
each £Boo,ooo 0 0
To reserve sm plus fund
To special reserve lO,OOO 0 0
To amount due by the bank on current,
deposit, and other accounts 2,184,783 7 1
To acceptances 102,414 2 6
To balance of profit and loss account,
30th June, 1867 B,lBB 4 7
To balance, being gross profits for the
half-year ending 31st December, 1867,
after payment of interest to customers,
and making provision for bad and
doubtful debts

Cn. £3,247,427 16 1
ASSETS.
By investments in Government Stocks,
viz., New Three per Cents. and Three
per Cent. Reduced £107,602 8 8
By cash in bank, at Bank of England,
and at call
By bills discounted, loans, and other
securities 2,434,745 19 9
By bank premises, London (Thread-
needle-street and Fenchurch-street) 190,752 5 0
By current expenses, London and Man-
chester 13,372 10 11

£3,247,427 16 1

PROFIT AND Loss ACCOUNT.
Dn.
To current expenses, London and Man-
chester, income tax, directors' remune-
ration, &c.
To rebate on bills discounted, not yet due 4,506 1 11
To proposed dividend, at the rate of 5
per cent. per annum 20,000 0 0
To reserved surplus fund 3,100 0 0
To special reserve lO,OOO 0 0
To balance carried forward to next ac-
count

CR. £53,330 6 6
4..••••••
By balance of gross profits brought down £45,142 111
By balance of profit and loss account,
June 30, 1867 B,lBB 4. 7

£53,330 6 6

REPORT OF THE AUDITORS.

To the Shareholders of the Consolidated Bank (Limited).
We have to report that we have examined the accounts
and balance sheet of the Bank for the half-year ending
31st December, 1867, and have signed the same as ex-
hibiting a true and correct view of the state of the com-
pany's affairs, in conformity with the deed of settlement.
Auditors.
DAVID CHADWICK Chadwick( do Co.)1
WM. COOPER (Cooper Brothers & f Co.)
15th January, 1868.

The Secretary having read the notice convening the
meeting, the report and balance-sheet were taken as read.
It was moved by the CHAIRMAN, seconded by Mr. J. P.
KENNARD, and resolved unanimously :
" That the report of the directors be received and
adopted, and that the same be printed and circulated among
the shareholders."
It was resolved unanimously as follows :
" That the following gentlemen, who retire by rotation
from the board of directors, be and are hereby re-elected
directors of the company : Messrs. Matthew Curtis,
Thomas Fairbairn, Edward Ryley Langworthy, Ivie
Mackie, and John render."
"That a dividend for the half-year ending 31st Decem-
ber, 1867, be now declared, at the rate of 5 per cent. per
annum, free from income tax, and payable on the Ist
February next."
"That Messrs. David Chadwick and William Cooper be
and are hereby re-elected as auditors of the company.
" That the thanks of the proprietors be given to the
chairman for his courteous conduct in the chair, and to the
board of directors for their zealous attention to the affairs
of the bank."
"That the thanks of the meeting be given to the mana-
gers and other officers of the bank for their services dur-
ing the past half-year.'
JOHN PENDER, Chairman.

Extracted from the Minutes.
T. J. AGAR, Secretary.

CONSOLIDATED BANK (Limited).—
Subscribed Capital
Paid-up Capital • BOO,OOO
Reserve Fund lOO,OOO
JOHN PEMBERTON HEYWOOD, Esq., London and
Liverpool, Chairman.
MURRAY GLADSTONE, Esq., Manchester, Deputy-
Chairman.
London—City Office, 52, Threadneedle-street.
Manchester—Office, 46, Pall Mall.
London —Charing-cross Branch, 450, West Strand.
Current accounts kept in London on the terms ruling
with the Joint Stock Banks.
Deposit Accounts—Money will be received on deposit at
seven days' notice of withdrawal. The rate of interest al-
lowed will vary with the Bank rate, and will be announced
from time to time by public advertisement. The Bank will
also receive money on deposit for a fixed period, at a rate
to be agreed upon.
Circular notes and letters of credit issued, and every other
description of banking business transacted.
By order,
T. J. AGAR, Secretary.