The Sun.
London, England, 1842-07-14 00:00:00

THIRD REPORT OF

THE TINION BANK OF LONDON
AT A GENERAL MEETING OF THE PRO-
PRIETORS. held at the Court-room of the Banking-house.
No. 8, Moorgate-street, on WEDNESDAY, the 13th JULY, 1842,
PRESENT:—

SIR PETER LAURIE, Alderman, Governor, in the Chair.
ANDREW SPOTTISWOODE, Esq., Deputy Governor.

DIRECTORS.

George Webster, Esq. Archibald Cockburn, Esq.
John Barnes, Esq. - James Farquhar, Esq.
J. W. Sutherland, Esq. Peter Laurie, Eql,
W. M. Nurse, Esq. W. P. Craufurd, Esq.
Major-General Robertson John Connell, Esq.,
And Sixty-six Proprietors.

The following Report was read by 'the Secretary :
In subtnittitr to the Shareholders, at this the third Annual
Meeting of the Bank, a Statement of its Affairs fa- the past
year, it is very gratifying to the Directors to have to report.
that the continued and increasing prosperity, on which they
congratulated the Proprietors at last meeting, has, notwith-
standing the prevailing distress, attended their operations dur-
ing the interval which has elapsed since that time.
The statement now laid before the meeting exhibits the profit
made, and the manner it. which it is appropriated.
It will be seen that after payment of all charges for the esta-
blishment and interest to customers (amounting this year to
nearly 12,000/. ), provision is made for a dividend of 5 per cent.
clear of Income• tax, on the enlarged capital of the Company.
now 422,9001. besides making addition to the Reserved Fund,
and paying off part of the preliminary expenses.
The extension of the business of the Bank, shown by the in-
crease in the balances of current and deposit accounts. which
are about cme-third more since last meeting, bas rendered ad.
di'ional accommodation at this office absolutely necessary.
Fortunately, the Directors were able to secure the adjoining
premises, winch have been sl altered as to afford the requisite
convenience.
THE UNION BANK OF LONDON, JUNE 30, 1842.
LIABILITIES.

Paid up Capital, 10/. per Share oa 42,290
Shares
Due by the Bank on current accounts, de-
posit receipts (including interest accrued),
Bills at six months' date, &c 745,938 11 2
Reserved fund, invested in Three per Cent •
Consols, as per contra 4,065 16 11

1,172,954 8 1
29,899 12 10

Surplus profit

.E I ,202,854 0 11
SSETS. CR.
Cash in the Bank, in the Bank of England,
Loans, Exchequer-bills, Bills discounted,
&c
4,4691. 4s. 311. Three per Cent. Consols,
( Reserved Fund) 4,065 16 11
Bank premises, including freehold building in
Argyll-place, and purchase of lease and fix-
tures of premises, 4, Pall-mall East 15,636 2 11
Preliminary expenses 16,000 0 0
Half-year's dividend, to December 31, 1841,
amount carried f)rward

£1,202,854 0 11

APPROPRIATION OF THE SURPLUS.
Dividend Five per Cent, on paid-up Capital,
via.:
Half-year, to 31st December. 1841, al-
ready paid .E10,572 ]0 0
Half year, to 30th June, 1842, now
declared

£21,143 0 0
Set apart as an Addition to the Reserved
Fund 2,000 0 0
Set apart as Proportion of preliminary ex-
penses .......... ........ . 500 0 0
Undivided Protit—carried to profit and Los.,
new accFunt for Bad Debts, rebate of In-
terest on Bills not yet due, and Income-tax 6,254 12 10

£29,899 12 10

Profit, as above, after deducting all expenses
paid or due, and Interest (11,964/. 9s. 7d. )
allowed to customers on their Deposit and
Current Accounts £29,890 12 10

£29,899 12 10
The Chairman then declared a Dividend of five per cent. to
be payable on end after the 20th instant.

Moved by :11r. D. A. MAITLA Nn, seconded by Air. SIGISM U D

RUCKER, and resolved unanimously :
That the Report now read be recrived, approved of, and
printed for circulation amongst the Proprietors.
&loved by :Mr. CHARLES NORRIS. seconded by Captain WM.

- -
JONES, and resolved unanimously :
That the cordial thanks of the meeting he given to the Di-
rectors for the able, zealous, and judicious manner in which
they have conducted the business of the Bank.
The thanks of the meeting were then voted to Mr. W. W.
Se: imgeour, the general manager; Mr. Clack, the manager of
the Regent-street Branch ; Mr. Wiyht, the manager of the
Charing-cross Branch ; and to Mr. Walter Laurie, the secre-
tary, for the able and efficient manner in which they have dis-
charged the duties of their several offices.
( Signed) P. LAURIE, Chairman.
The Governor having left the Chair, it was
Moved by Mr. R. 0. ALAND, seconded by Mr. Wunlast
HEWER, and resolved unanimously ;
That the thanks of the meeting be given to Sir Peter Laurie,
the Governor, for his able and courteous conduct in the Ckair
this day.
(Signed) A. SPOTTISWOODE, Deputy-Governor.
Extracted from the Minutes,

WALTER LAURIE, Secretary.
* As the Income-tax on the Profits of the Bank will be paid
by the Company, individual Shareholders will not be liable for
the same.

UNION BANK OF LONDON
The COURT of DIRECTORS hereby give Notice
That a DIVIDEND of FIVE POUND PER CENT. en the
PAID UP CAPITAL of the CONIPANY wilt be PAYABLE
at the Banking House, Moorgate-street, on and after WEDNES.•
DAY, the 20th instant, between the hours of Nine and Three.
W. LAURIE, Secretary.
8, Moorgate-street, July 13, 1842.

UNION BANK OF ENGLAND.
Capital, 3,000,0001. In Shares of 50/. each.

DIRECTORS.
Sir Peter Laurie, Alderman, Governor. Andrew Spottiiwoode,

Esq., Deputy-Governor.

George Webster, Esq. James Farquhar, Esq.
John Barnes, Esq. Benjamin Boyd, Esq.
J. W. Sutherland, Esq. Peter Laurie, Esq.
W. M. Nurse, Esq. W. P. Craufurd, Esq.
Major-General Robertson. John Connell, Esq.
A. Cockburn Esq.
Principal Office, 8, 111oorgate-street, Lothbury.
William Wilson Scrimgeour, Cleneral Manager.
Regent-street Branch Office, Argyll-place.
Henry T. Clack, Manager.
Charing Cross Branch Office, 4, Pall Mall East.
Alexander Wight, Manager.
The capital of the Bank is 3,000,0001. sterling, in 60,000
Shares of 501. each; 42,290 of these Shares (on each of which
101. has been paid), are in the hands of above 700 Proprietors,
whose names are published periodically ; thus affording the
most perfect security to the public. It ought to be kept in
view by the proprietary, that those who are also customers to
the Bank, participate in the profits made by their own accounts.

TERMS. -
CURRENT Accoutcrs.—Parties keeping Current or Draw-
ing Accounts, will be credited on the first day of every month,
with a month's interest at the rate of 2 per cent. per annum on
the smallest balance at the credit of their account at the close
of business on any day (luring the past month, provided that
such balance shall not be less than 100/. Tne total amount of
interest. will be passed to account every six months.
Dcrosyr ACCOUNTS.—The rtite of Interest at present al-
lowed on Money placed on Deposit at ten days' notice, is Si.
per cent. Sums under 1501., on which 24 10s. per cent. is
allowed, may be withdrawn without notice. Receipts far the
sums so deposited will be granted to the parties, or, in the
option of the Depo,itors, Bills or Promissory Notes, at not less
than six months' date, including interest till maturity, will be
issued.
Sums exceeding 1,0001. will be received on such terms as
may he agreed upon.
GENERAL BUSINESS.
The Agency of Country and Foreign Banks, whether Joint
Stock or Private.
Circular notes and letters of credit issued to all parts of the
Continent of Europe and elsewhere.
Purchases and Sales effected in all the British and Foreign
Stocks and Securities, and the Dividends received without
charge, and placed to the credit of the parties.
W. W. SCRIMGEOUR, General Manager.

I-lION, ELEGANCE, and ECONOMY,
are
the predominant features at DREWETT'S AS
exten-
sive Repository for STATIONERY of every description.
Thy prices of a few Warranted Articles are quoted to afford
the Public an opportunity of comparing them with articles pur-
chased els.where ;
Observe the New Stationery Case, fitted complete, s. d.
only
Envelopes, with the penny stamp affixed, per dozen
Envel,pe., per 100—:3d., 4d., and 6d. ; extra super

fine ditto
Very best black-bordered, per 100 .
Parisian papaterie envelopes, and envelopes silver and
Told, per dozen
Envelopes, paper and wafers stamped with coronets,
crests. &c. (no charge for (ties), per dozen
Envelopes cases, in every style of elegance, fitted from 2 t
Splendid patterns, in albums, scrap or blotting books,
from
Church Service, in velvet. morocco, or illumirratcd,
Bibles, handsomely bound, 25.; Prayer, or altar ser-
vice
Ladies' rosewood dressing-case, fitted complete, only l6 t,
Ditto, with silver fittings, 7 to 70 or 100 guineas.
Solid mahogany writing desk 6 C
Ennia leather travelling case, the ne plus ul ra I
Papier machee goods, desks, tea caddies, companions,
blotting books, envelope and card cases, ba tkets, &c. 10 6
Writing papers of every description, foreign sod Eng-
nsc., 3d. per quire; note ditto, ld., 2d., 3d., reduc.
Lion by the ream.
Card plates engraved and altered, 100 cards printed for 2 f

n 9
2 0

06

Ever article purchased at this Est.%Wis.-it-Ilea must be ap-
prove,' of, being purchased for ready money, and sold for the
smallest.E
shade of profit. by DREW TT aid Co., 62. QUA-
DRANT, orposite Swat and Ed; ar's. Hari: the No. 62.
N.',13.--;Tubscrition to the Lib. ary • .ly One Guinea pet

year.