The Liverpool Standard and General Commercial Advertiser.
Liverpool, Merseyside, England, 1847-12-07 00:00:00

THE LIVERPOOL STANDARD.

pensation for work done for the Toxteth-park Commis-
sioners,—A letter from the Licensed Victuallers for the
Town Hall for the annual ball ; and a resolution of the
magistrates condemnatory of the plan of the new gaol,
and requesting new plaits to be furnished, were referred to
the respective Committees. '

MEETING OF THE SHAREHOLDERS OF THE
LIVERPOOL BANKING COMPANY.

A meeting of the proprietors of this bank took place at
the Clarendon-rooms, on Tuesday last, to hear and
consider an address from the directors on the affairs of
the bank, and the measures that had been taken, and
those suggested for future proceedings. There was a
large attendance, and Mr. Powles was called to the chair.
Several gentlemen who were present as proxies were re-
quired to withdraw, as a clause in the deed of settlement
prevented such from taking any part in the proceedings.
A number of questions were put to the chairman by
several gentlemen present, with reference to the liabilities
of the bank, the amount of debts due to it, the deposits,
&c., all of which were answered apparently to the satis-
faction of the majority of those present.
The following address was then read .
" The Directors of the Liverpool Banking Company to the
Proprietors assembled at a Special General Meeting
held at the Clarendon Rooms, 30th Nov.
"We meet under circumstances different from those
under which we have formerly met.
" The Directors have thought it proper to address a
statement of the affairs of the Bank to every proprietor, as
a preparative for this meeting. Time has been allowed for
due consideration of that statement, and the Directors
have now to state teat up to the present period they do
not see any reason to alter the views which it presents.
"Events t'amiliar to the minds of every one present have
caused a great convulsion in all monetary affairs, and will
account for the present position of the company, and,
without further remark, we will now turn our attention to
those measures which it will be most prudent to adopt
under the circomstances.

" To resume the business of the bank, there cannot be
any doubt, would most effectually promote the interests
of all concerned. As a step in that direction, the direc-
tors have made .a call of £2 per share (in any event abso-
lutely necessary), and they are exerting themselves to
make such further arrangements as the case may require.
" The capital of the bank has been too small, and in
order to meet the due prosecution of business, the Directors
are of opinion that powers must be asked at a general
meeting of the proprietors, duly convened for that pur-
pose according to the deed of settlement, to increase
the capital. A plan for the purpose, which presents it-
self to their minds is—the creation of 12,000 preferential
shares of £2O each ; to call up £l2 per share by instal-
ments, that they may equal those already created ; to
exempt then, from all liability for transactions of the
Bank prior to their creation ; to insure to them
a dividend of 6 per cent. per annum, by the guarantee of
preferential payments, and allowing them an equal parti-
cipation with the original shares in all advantages beyond
6 per cent. per annum.
" This plan would make the capital ofthe bank £400,000,
of which £240,000 would be paid up, and which would
more nearly assimilate with the original intention.
" These are the views of the directors upon a due con-
sideration of the position of all parties interested ; and
with moderate success in carrying out those views, which
may he secured by cordial co-operation, the directors hope,
ere long, they will be able to realize their wishes.
"The bank has been useful to the general trade of the
town, and the directors hope it will continue to be so. To
the connexion already obtained and the experience of •the
past, under trying circumstances, they look forward with
confidence to the future for a fair recompense to the pro-
prietors.
" In conclusion, the directors beg to impress upon the
proprietors, that they have only a common cause and ob-
ject with them, and to request from them that cordial co-
operation, which is above all things needful to their com-
mon interest.

"A. W. POWLES, Deputy Chairman."

It was moved, seconded, and carried, that the report
read be received, printed, and distributed amongst the
shareholders.

A good deal of further conversation took place, arising
out of questions
.put by Mr. Hutton, Mr, Cookson, and
others, to the Chairman.

Mr. POWLES stated in reply to one question, that the
directors believed that if the debts due to the establish-
ment were paid in, and the call of £2 per share, the bank
might resume business without the preferential shares,
which were merely suggested. They might resume on the
Ist of February.

The rest of tile business was comprised in the following
resolution, proposed by Mr. WARD, and unanimously
ct.rried

" That the proprietors assembled at this meeting beg to
express their entire confidence in the conduct and exer-
tions of the directors, and request them to continue their
exertions, to carry out the views expressed in their ad-
dress, now read.'