The Sun.
London, England, 1845-05-29 00:00:00

NATIONAL BANK OF IRELAND.

" Previous to the development,of the measures of the
Government affecting the monopoly of the Bank of Ire-
land, the Directors, with a view to absorb and render
profitable to some extent the unproductive capital of the
Bank, gave their attention to the extension of its busi-
ness in a large district of the south of Ireland, where a
fair demand ( xisted for banking accommodation.
" The Directors, after an anxious and careful exami
nation of the information furnished to them, have esta-
blished branches in the following places, viz.:—Clona-
kilty, Skibbereen, Midleton, Killarney, Rathkeale, and
Mallow ; and so far as the business hitherto transacted
at these branches has progressed, the results are very
favourable, and would seem to indicate a judicious selec-
tion and appreciation of the wants of the community.
" The Directors have viewed with much satisfaction the
projection of several lines of railway communication in
Ireland. They regard them as undertakings which,
when carried out, will give a new stimulus to the yet
undeveloped resources of the country.
" The Directors have to congratulate the Shareholders
on the proposed measures in regard to banking in Ire-
land, and the withdrawal of the exclusive privileges
which have been so long enjoyed by the Bank of Ire-
land. By the proposed measures the existing joint-stock
banks of issue will be empowered to transact on a per-
fect equality, with respect to each other, all descriptions
of banking business in Dublin, and within sixty-four
English miles thereof—a district always considered ele-
gible for banking operations.
"The Directors are prepared to secure to the Bank
every advantage which the alteration of the laws for the
regulation of banking in Ireland may permit.
"It will be satisfactory to the Proprietors to learn
that the Directors have recently erected a commcdious
banking-house in the central part of Dublin, which will
afford them the facilit3 of transacting an extensive busi-
ness in that city.
The undivided profits at December,
1843, were £30,286 3 4
"Net profits for the year ending De-
cember, 1844..

20,842 16 6

" Deduct half-year's dividend
for Midsummer, 1844 £8.750
" Ditto ditto Christmas, 1844 8,750

£51,128 19 10

£17,500 0 0

"Leaving the amount of undivided profits
at December, 1844
" There are now to be elected four Directors, in the
room of John Joseph Keene, Esq., Christopher Fitz-
simon, Esq., John Rawson, Esq., 'and Colonel the Hon.
Leicester Stanhope, whose seats at the Board are vacated
by rotation ; all of whom are candidates for the office,
and eligible to be re-elected ; and the appointment by
the Board of Nicholas Maher, Esq., M.P., another of the
Directors, will require the confirmation of this meeting.
(Signed) "T. LAMIE MURRAY, Chairman."
The report having been read,
The SECRETARY proceeded to read the account of the
liabilities and assets, together with the account of profit
and loss.
The CHAIRMAN said—Gentleman you have heard the
report of the Directors, and also the accounts of the as-
sets and liabilities, and of the profit and loss. Before I
move that the report and the accounts be received and
adopted, I will wait awhile, in order to afford
any gentleman present any opportunity of putting any
question on the subject of the accounts or the report.
After a pause of some minutes,
The CHAIRMAN proceeded Since no gentleman
wished to address any question to the chair, that
was an indication that the Shareholders were satis-
fied with the expose which the Directors had
made of the state of the Bank.—(Cheers.) Certainly the
year which had passed away, and that which was
about to come, afforded signs of the commencement
of some degree of prosperity as regarded this establish-
ment. They had hitherto had an unexampled quan-
tity of money, for which they bad been unable
to find employment. Finding the pressure of this state
of things continued so long, the Directors had looked out
for a field for its employment, and after much care
and attention, they had determined to extend the
branches of. the Bank, and had selected for those
branches, the places named in the report—Clonakilty.
Skibbereen, Midleton, Killarney, Rathkeale, Mallow,
He held in his hand an account of the operation of those
branches during the short space of time which they had
been in existence, and it was gratifying to know
that those accounts were satisfactory.—(Cheers.) He
regretted, in common with his colleagues, that they
had been deprived, on this occasion, of the services
of their distinguished Governor—(Loud cheers)—
because it was an occasion on which no man could have
filled the chair with more ability, considering the im-
portant measures which had been announced by Sir 11.
Peel on the subject of banking in Ireland. It
was impossible to contemplate the advantages which Sir R.
Peel proposed to give to the existing banks without great
satisfaction. Since the commencement of this Bank, it
and other similar institutions had, by the privileges of the
Bank of Ireland, been placed in a circumscribed
position, and one of considerable difficulty. It
was proposed to abolish those privileges.—(Hear,
hear.) This would open to them an entire
province containing a population of a million and a half,
with a rich and fertile district, including the metro-
polis. The Directors were not called upon to-dsy to
say how they intended to take advantage of this. Next
year, after they had duly considered the subject,
they would be able to state in what manner they had
taken advantage of that opening, and, therefore,
he would not now enter on its discussion,
particularly as the measure itself was now before Parlia-
ment. Whether or not the details of those measures
were entirely satisfactory, he would abstain from ex-
pressing an opinion. If they were not so the Di-
rectors would not fail to make representations to
the Government—(Hear, hear)—but he did not
think that the Government ought to be embarrassed
by the discussion of the peculiar opinions of
individuals at a meeting like the present. The
Chairman concluded by moving that the report be re-
ceived, adopted, printed, and circulated among the Pro-
prietors.—(Cheers.)
The motion was then put, and carried unanimously.
The Directors who went out by rotation, John Joseph
Keene, Esq., Christopher Fitzsimon, Esq., John Raw-
son, Esq., and Colonel the Hon. Leicester Stanhope,
were then unanimously re-elected.
The appointment of Nicholas Maher, Esq., M.P., as
one of the Directors, was confirmed.
The Rev. Dr. MAGEE said, that the business being
concluded, he felt pleasure in proposing to vote the
thanks of the Proprietary to the Chairman and the Di-
rectors for the great assiduity with which they had per-
formed the duties that had devolved upon them. The Rev.
Gentleman concluded by moving the thanks of the Pro-
prietors in the usual manner.
The motion was received with great cheering, and
carried by acclamation.
The CHAIRMAN, in returning thanks on behalf of
himself and his colleagues, expressed his gratifica-
tion at the good feeling that pervaded the
entire meeting.—(Hear, hear.) He could only
express, on behalf of his colleagues and himself, that
they had endeavoured to discharge their arduous duties
during the past year to the best of their abilities, and
they would still continue to do so.—(Great cheering.)
The meeting then broke up.
Among those present we observed—Directors, r.
Lamie Murray, Esq., Chairman ; J. C. Ruding, Esq. ;
Charles Bianconi, Esq., Mayor of Clonmel; John Joseph
Keene, Esq. ; Frazer B. Renshaw, Esq. ; Fowler
Newsom, Esq. ; Colonel the Ilonourable Leicester
Stanhope ; Robert Sutton, jun., Esq. ; A. P. John-
son, Esq., and .J. L. Cochrane, Esq.; Shareholders,
Michael O'Brien, Esq., of Mitchelstown ; W. L. Wheeler,
Esq. ; John Wheeler, Esq. Denies
ioOn'eNgeaill,;
EC3.11 Charles
Dublin ; James Nowlan, Esq., of
Rule, Esq. ; Rev. Dr. Magee ; Augustus Vigue, Esq.;s
John Fitzgerald, Esq., of Carrick
Thomas Madge ; Francis J. O'Nei-I,°En-sBqu. I;r.;Jothhne Ritaenv:
som, Esq. ;J. B. Bacon, E3q ; ward James Daniel)
Ed
Esq. ; John Robins, Esq.

MONEY MARKET.—The premium on gold at Paris
is 19 per mille, which, at the English Mint price of 31. 17s.
10• per ounce for standard Old, gives an exchange of
25 63 ; and the exchange at Paris on London at short being
25 77i, it follows that gold is 0.56 per cent. dearer in London
than in Paris. By advices from Hamburgh, the price of
gold is 438 per mark, which, at the English Mint price of
31. 17s. 1011 per ounce for standard gold, givesa n exchangea
t.
at
of'l3 ; and the exchange at Hamburg on n London
short being 13 124. it follows that is
gold 0.57 per cent.
dearer in London than in Hamburgh.

The tenth annual general meeting of the Shareholders
of the National Bank of Ireland was yesterday held at
one o'clock at the Bank, 13, Old Broad-street; T. Lamie
Murray, Esq., in the chair.
The CHAIRMAN opened the proceedings by calling
upon the Secretary to read the advertisement convening
the meeting.
The SECRETARY, N. S. King, Esq., then read the ad-
vertisement convening the meeting.
The CHAIRMAN said that the Directors had prepared
a report of the transactions of the Bank during
the past year, up to the 31st of December ; and
also an account of the assets and liabilities of the
Bank, and of the profits and loss. He hoped they would
find the report sufficiently ample and explanatory as to
the situation and affairs of the Bank. He would not
detain them longer, but at once call upon the Secretary
to read it.
The SECRETARY then read the following Report :
"The Directors of the National Bank of Ireland have
again the pleasure of meeting the Proprietors assembled
at the tenth annual general meeting of the Company,
and of submitting the usual statement of the assets and
liabilities, with the profit and loss account of the Bank
up to the 31st of Decetnber last, exhibiting the rezult of
its operations for the past year.
"At the commencement of last year it was generally
expected that a marked improvement would take place
in the agricultural and commercial interests of Ire's! d,
which previously had been so seriotkly depressed.
These expectations were well founded, and it is gratify-
ing to the Directors to report that they have been
realised by an uninterrupted increase of the business
and resources of the Bank during that period.
" Had the Directors been enabled to employ with
safety and advantage in Ireland the large surplus means
in their hands, the profits of the year just ended woul
have been much greater. The difficulty in effectin
this desirable object has existed up to a late period
some increased demand for money has, however, bee.
recently indicated, though as yet unaccompanied by a:
alteration in the rates of interest