The Sun.
London, England, 1842-06-08 00:00:00

EXCHEQUER.-(THIS DAY.)

The Court wont through a number of canes on the special
paper ; no point of any general interest was raised in the
course of the arguments.

INSOLVENT CO URT-(T H IS DAY)

IN RE WILLIAM FELTON BANNERMAN.

The insolvent was mate on board the Royal Mail Packet for
'lndia, in which capacity he was allowed to supply the crew
with articles of clothing, but having entered upon further spe-
culations, which were disallowed by the Admiralty, the unsold
goods were lauded at Southampton, where they were detained
in the Queen's Dock, and would become available to the
creditors on the return duties being paid.
His application to the Court was to be admitted to bail until
the day of hearing.—Granted.

IN RE JOIN JAMES FRASER.
The insolvent in this case was a vocalist, well known at all
the minor theatres, and who had also been a favourite at
Drury-lane some time back. He passed through the Court
in the latter end of the year 1840, and now appeared again to be
discharged on bail until his final hearing.
Bail having justified in the sum of 1401., he was ordered to
be discharged.

The CoU'rt was generally occupied during the morning in
hearing uninteresting applications for bail.

POLICE INTELLIGENCE.

BO W-STREET.-(THIS DAY.)

Mary Smith, a very old woman, was charged with stealing
9d. in copper from a till.
Sarah Itossiter, the keeper of a beer-shop in Great St. An-
drew-street, St. Giles, stated that the prisoner went into her
shop last night and called for half a pint of porter, with which
she was served, and which she remained at the bar to drink.
Witness retired for a moment into another room, and imme-
diately afterwards she heard the till rattling ; she returned to
the shop directly, and observed the prisoner's hand in the till ;
the hand was immediately withdrawn and the prisoner placed
it in her bosom. The money was found upon her.
The prisoner, in defence, stated that she was drunk, and did
not know what she was about.

TWYFORD fully committed her to take her trial.

ASCOT RACES.

CA 1' k 3 - 'I EXPRESS.)

The Swinley Stakes of 25 sovs. each, 15 ft, &c.
kir. Shelley's lole.. walked over
The Coronation Stakes of 100 sovs. each, h ft, &c.
Lord Exeter's Amima filly, by Touchstone (Mann) 1
Lord Chesterfield's Dil-bar

BANK OF AUSTRALASIA, INCOR-
PORATED by ROYAL CHARTER.
The annual General Meeting of the Proprietors of
this establishment was held on Monday, at thr
office in Moorgate-street, to receive the Report of the
Directors, &c.
The chair having been taken by J. S. Brownrigg,
Esq., M.P., the advertisement convening the meeting
was read by the Secretary, and the three Directors,
Oliver Farrer, Esq., Captain Sir A. P. Green, RN.,
and Alderman Sir George Carroll, going out of office
by rotation, were unanimously re-elected.
Mr. MILLIKEN, the Secretary, then read the fol-
lowing Report :
" 1. In conformity with the general rules estab-
lished for their guidance, the Directors proceed to
perform the duty assigned to them of laying before
the Proprietors their annual Report of the operations
and position of the Bank during the last year of
account.
"2. Every person having communication or con-
nexion with the British colonies in Australasia must
be well aware of the unexampled state of distress,
both agricultural and commercial, under which these
colonies have laboured during the period adverted to.
" 3. The continuance of this distress for more than
a year, accompanied with commercial failures of un-
equalled extent and importance, might not unnaturally
have prepared the Proprietors to hear of an unusual
amount of casualties ; but it is satisfactory to the
Directors to be able to state that the ascertained
losses do not materially exceed those which from the
magnitude of the business might have been expected
in ordinary times.
" 4. The Directors perform a most gratifying duty
in reporting to the Proprietors that the conduct of
the local Directers, and that of the Inspector and
Managers at the various branches, have generally been
characterised by great prudence, discretion, and fore-
sight ; that the zeal and anxiety displayed by all the
officers in their respective stations have been moat laud -
able and unceasing, and that it is to the exercise of these
qualities that the Proprietors are mainly indebted for
a result rn the year's accounts, now about to be laid
before them, which could hardly have been realised
had less judgment and caution been evinced. On
these grounds the gratitude and thanks of the Pro-
prietors of the establishment have been richly earned
by the colonial eetablishments of the Bank.
"5. There are a few matters of detail which the
Directors think it right to lay before the Proprietors
previous to giving the abstract of the accounts for the

year.
" 6. The first is the resignation of Mr. Griffiths, the
Inspector of the Colonial Establishments, whose con-
nexion with the Bank from an early period of its ex-
istence the Directors regret should have terminated.
" 7. The selection of a suitable successor was a sub-
ject of much thought and anxiety to the Directors,
but they have the pleasure of informing the Proprie-
tors that they have engaged the services of Mr. W il-
liam Hamilton Hart, who has been appointed to that
office.

" 8. The Directors are convinced that Mr. Hart's
long experience in business and acknowledged talent
qualify him to discharge satisfactorily the responsible
and arduous duties of superintending the affairs of the
Corporation in the Colonies, and that. he will maintain
his previously well-established character.
"9. Mr. Hart sailed from Plymouth, with his
family, at the commencement of this year ; but iu
consequence of the typhus fever having unfortunately
broken out among the passengers, several of whom fell
victims to its effects at sea, the vessel was compelled
to put into Pernambuco, in the Brazils, where a
vexatious detention of several weeks has been expe'-
rienced, occupied in eradicating the disease from the
ship. The voyage, it was expected, would be re-
sumed in the middle of April, and the Directors hope
Mr. Hart will now ere long reach his destination.
" 10. Mr. Griffiths continues to conduct the affairs
of the Corporation until tke arrival of his successor.
" 11. In their last Report the Directors announced
that steps had been taken for the formation of a branch
bank at Perth, in -Western Australia, under the ma-
nagement of Mr. Lewis. This gentleman died suddenly
soon after his arrival in the colony-, but prior to that
unfortunate event he had most ably brought to a con-
clusion a negotiation entered into with the then existing
colonial ban, called The Bank of Western Austra-
lia,' which became amalgamated with this establish-
ment. The branch opened on the 3d May, 1841, un-
der the superintendence of an efficient and influential
local Board of Directors, selected for that office by
Mr. Lewis, and has received the decided support of
the principal colonists. The transactions have been
as extensive and profitable as could he looked for in
the infancy of the business, and the Directors re-
tain the same expectations of the success of the
branch which they had formed when its opening was
determined on.
" 12. At the death of Mr. Lewis, which took place
on the first day that business commenced, the ma-
nagement devolved on Mr. M'Dermott, the next in
office, who had ben engaged as the accountant of the
branch, and who for many years had filled the situa-
tion of principal cashier of the old Bank.
" 13. The subject of the position and prospects of
the officers of the Corporation is one of no inconsidera-
ble importance, connected as it essentially is with the
future good management of our colonial establish-
ments, and the general prosperity of the Bank ; it has
consequently occupied, for a length of time the so-
rious attention of the Directors.
" 14. It apeared to the Directors that the most ef-
fectual way of retaining the services of their officers
would be to create a fund, out of which pensions
should be granted to those who from age or length of
meritorious service, or physical incapacity, might es-
tablish a claim to such a provision. Acting upon
this view, they desire now to state that they have
passed a resolution (in the propriety of which they
confidently expect the cordial concurrence of the Pro-
prietors) appropriating the sum of 1,0001. per annum
for the formation of a retiring fund, to accumulate in
Sydney at colonial interest.
15. It will be some years before any claim can
arise to form a charge on this fund, and when that
period approaches the Directors will be prepared with
a digested plan for its application. In the meantime
the knowledge that such a fund exists, and that every
officer who by length of service, fidelity, and good
conduct shall be entitled to its benefits, will be enabled
to ensure to himself a future provision, will, the
Directors fully anticipate, tend to secure the con-
tinuous services of the officers in the employment of
the Bank.
" 16. Having made the foregoing few observations,
the Directors proceed to lay before the Proprietors the
following statement of the results of the year's trans-
actions ending on the 11th October, 1841 :
The amount of the reserve of un.
divided profit at 12th October,
1840, as shown at the last
annual meeting, was .
To which are now to be added the
profits realised both in the Colo-
nies and London, to 11th Octo-
ber, 1841, after deducting all
expenses incurred, and an esti-
mated provision for bad and
doubtful debts, amounting to

£80,293 2 3

67,024 17 0

£147,318 0 0
Prom which are to be taken the
following sums paid to the Pro-
prietors, viz :
April dividend 1841, on 10,000
shares,
Oct. dividend 1841, on 15,000
shares .. . ...... .24,000
And the bonus of 11. a share
paid at Oct. 1841, on
15,000 shares . 15,000 £55,000 0 0

Leaving as the amount of the ra-
served fund or rest on the 11th
Oct. last
" Out of which sum the April dividend for 1842
has been paid, and the Directors propose declaring
the usual dividend of four per cent. upon the old or
paid-up shares of the Corporation for the following
half-year ending in October, being at the rate of eight
per cent. per annum. Considering also the probable
lengthened period which will elapse between the pay-
ment of the first and following instalments on the
last series of new shares issued, it is the present in-
tention of the Directors to pay a dividend in April
next upon the first call of 101. already paid on those
shares.
" 17. The foregoing result will, the Directors con-
fidently anticipate, be received with satisfaction by the
Proprietors. It is in itself the best test of the pros-
perity of the establishment and the prudence
and correctnes of its management during a period
of severe monetary pressure. At the date of
the last accounts, this pressure still continued
to paralyse the operations of commerce, and
it is not improbable that losses may be sus-
tained by this Corporation in addition to those already
estimated; but the Directors entertain a firm hope
thrt some improvement in the state of the colonies
will before long take place. The Directors, how-
ever, always bearing in mind that the business of so
large a banking concern, and conducted at so great a
distance from the parent establishment, is peculiarly
exposed to contingencies which no prudence can
foresee or avert, have not failed to avail themselves of
the opportunities which the successful results of pre-
vious years have afforded to make what is believed to
be an ample provision to meet any such losses, should
they occur."
The CHAIRMAN wished to know if any Proprietor
desired to ask any question relative to the Report ?
The meeting was aware that it alluded to two or
three important questions ; the most prominent one
was the establishment of a fund to provide pensions
for the officers serving in the:colonies.—(Hear, hear.)
The Directors thought the establishment of such a
fund would have a beneficial effect.—(Hear, hear.)
Captain PAGE wished to know if the parties them-
selves would contribute anything to the fund ?

-- • - • ---
The CHAIRMAN replied in the negative, the
O C Direct'
tors being desirous of having the control T the
funds in their own hands.
A PROPRIETOR inquired if the profit set forth in
the Report wal to the close of last year ?
The CHAIRMAN answered, it was only to Octobet:,
1541, so that the Company had always nearly arefirg
,
profit, which was not brought into the statement suu-
mitted to them at the annual meeting, as the accounts
from the colonies could only be made up to that Pe'
riod.—(llear, hear.)
The following resolution was then carried :—"4t
the Report be adopted, printed, and circulated among
the Proprietors."
The CHAIRMAN continued—The Directors having
called the attention of the Proprietors to the conduct
of their local officers, at a time of no ordinary 01'1,1'
feel it their duty to propose to the meeting the
fur'
lowing resolution :—" That the cordial thanks of the
Proprietors he given to the Local Directors, and the
Officers of the Bank on the Colonial Establishments,
for their able management of the affairs of the Corp°
ration during the trying period adverted to by thea
Directors in the foregoing Report," which was collie

with acclamation.
The Rev. Mr. MADGE said he had a resolution to
propose. It was—" That the thanks of this meetil
are eminently due, and are hereby given to the Cluild
man and. Directors, for their excellent management,
the affairs of the Establishment on every occasion' a
Several Proprietors rose simultaneously to sec°
it, when it was unanimously adopted. elf
The CHAIRMAN, in returning thanks for liim`
and his colleagaes, could assure the meeting that sw*"
was the best stimulant that could be given to tbe:
and he hoped they should continue to receive,w
same encouragement they had just received, by,l7
vote of confidence.—(Cheers.) nat
BI Mr. T. RONSON thought the meeting cowl to.
separate without passing a vote of thanks to Mr. iul„,
ken, their Secretary, for his able and assiduous stw"
tions to the affairs of the Corporation.
General CAULFIELD would cordially second it, wbea,„.
it was unanimously carried, and the meeting set-.
rated.