The Sun.
London, England, 1850-07-25 00:00:00

The Directors hare much pleasare in prcsenting to their co-pro-
prietors the tenth annual statement of the affairs of the bank. It will
be seen by the annexed balance-sheet that alter writing off the bad
and doubtful debts, and paying the charges and current expenses of
the past year. the net profits amount to 14,9821. 3s. 3d. Out of these
profits a dividend at the rate of 61. per cent. per annum for the half
year ending December 31, 1849, has been already paid, and the di-
rectors have now to declare a dividend for.the half year ending June
30, 1850, at the same rate, to which they have the satisfaction of
adding a Bonus of 7s. 6d. per share, both dividend and bonus free
from income-tax.

After paying this dividend and bonus, and deducting the rebate of
interest upon current bills, there will remain a balance of 2,4681. Bs.
7d. to be added to the reserve fund, increasing that fund to 23,1141.
12s. Bd.

In compliance with the provisions of the deed of settlement, the
following Directors, viz.:—
William Sprott Boyd, Esq.,
William Cooper, Esq.,
Mark Hunter, EN.,
• Joseph ,Underwood, Esq.,
Retire from office, and—
William Cooper, Esq.,
Mark Hunter, Esq.,
Joseph Underwood, Esq.,
being eligible, offer themselves as eandidatee for re-election ; and
Charles Butler, Esq.,
who is a duly qualified proprietor, oilers himself as a candidate for
the vacant seat. '
The report and balance-sheet haying been read,
It was resolved unanimously—
" That the report and balance-sheet just read be approved, printed,
and circulated amongst the proprietors."
The Chairman, Thomas tsarnewail.,- Esq., on the part of the direc-
tors, declared a dividend on the paid-up capital of the company at the
rate of 61. per cent.
_per annum, and a bonus at the rate of 7r. 6d. per
share, both free from income-tax, payable on and alter the lit of
August next.
Resolved unanimously—" That the following Directors, viz.:—
William Cooper, Esq.,
Nark Hunter, Esq.,
Joseph Underwood, Esq.,
who go out of office in pursuance of the deed of settlement, be re-
elected Directors of this company."
"That Charles Butler, Esq., be elected a Director of this company."
" That the thanks of the meeting be presented to the Chairman
and the Directors for their able superintendence of the affairs of the
bank."
" That the thanks of the proprietors be presented to Mr. Alfred
Richard Cutbill, for his efficient services as manager."
(Signed) THOMAS &LUNE WALL, Chairman.
That the thanks of 'the meeting be presented to Thomas Barna-
wall, Esq., for his able and courteous conduct in the chair this day."
(Signed) A. R. CUTBILL, Manage.
BALANCE-SHEET TO 30TLI Jules, 1850.
Da.
Capital subscribed - - £673,900 0 0
Capital paid'up - ' - - - - • - £131,780 0 0
Guarantee fund invested in government securities - 29,646 '4 1
Balance due to the customers of the bank - - 612,596 19 6
Balance carried down after deducting bad and doubt-
ful debts, and paying all charges and current ex-
penses - • 14,982 3 8

X 783,003 7 3

Cash in hand, government secttales, India bonds,
bills discouuted, &c. £779,005 7 3
Value of banking premises, fittings, and furniture, at
Lothbury and Henrietta-street - - - 4,000 0 0

X 783,005 7 3

Dividend at the rate of 6 percent. per annum, for the
half-year ending 31st December, 1849, already paid £3,879 0 10
Dividend at ditto for the half-year ending 30th June,
1850 - ..... 4,043 8 0
Bonus of 7s. 6d. per share on 6,739 shares - - 2,527 2 6
Rebate of interest' on current bills carried to profit
and lots new account - - - - - - 2,064 3 9
Balance carried to the guarantee fund, making that
Rind - £23,114 12 8 2,468 8 7

£14,982 3 8

Balance brought cliotvn - -

- - 414,982 3 8