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Leader (1850-1860), 22nd January 1859, Edition 2 of 2, Page 27, BANK OF ENGLAND. An Account, pursuant-to...

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      Joint-Stock Companies. At The Half-Yearl...

      The half-yearly meeting of shareholders in the London « nd Westminster Bank was held on Wednesday . The net profits for the six months amount to 86 , 350 / ., and to this have heen added 19 , 852 £ , forming the unapprooriated halance of the previous half-year and the 10 , 000 / . reserved in December , 1857 , for contingencies , making a total of 106 , 203 / . From this sum interest has been © aid on the surplus fund at 5 . per . cent ., and a dividend is now declared at the rate of 6 per cent , per annum , besides the bonus of 6 per cent ., leaving a balance of 12 , 0731 . to be added to the surplus fund . The total distribution for the last six months is at the rate of 18 -percent ; -per annum . The report was unanimously A second special general meeting of proprietors of the Union Bank of Australia is called for the 4 th February , to confirm the resolutions passed at the meeting on the 10 th instant . . - , _ . ¦ ' ¦

      . . The half-yearly meeting of the Scottish Australian Investment Company is called for the 28 th instant , and will be made special , to consider the propriety of increasing the capital by the issue of new stock . The general meeting of shareholders of the London Joint-Stock Bank was held on Thursday . Including 32 , 370 / . brought forward , there is a balance of 107 , 700 / ., out of which a dividend at the rate of 12 £ per cent , per annum ,. and a bonus of 1 £ per share were declared , leaving 10 , 200 / . to be added to the guarantee fund . This distribution is at the rate of no less than 32 £ per cent , per annum for the last six months . Including the payments for the previous six months , the dividend for the whole year 1858 becomes 27 £ per cent , and considerably exceeds that of any other bank . The directors ' report was unanimously carried .

      At a special general meeting-. of proprietors of the Bank of London , the gross profits for the half-year were stated at 24 , 139 / . After deducting 2508 / . for rebate , expenses , and other charges , a balance of net profit . remains of li , 89 i / ., from which a dividend at the rate of 5 ' per cent , per annum , free of income-tax , was declared * leaving 4391 / . to be carried forward . The directors' report was unanimously adopted .

      J^461/Jayttaby 22 Y 1859] The Ldadeb. Im...

      j ^ 461 / JAyTTABY 22 1859 ] THE LDADEB . im _

      Bank Of England. An Account, Pursuant-To...

      BANK OF ENGLAND . An Account , pursuant-to the Act 7 th and 8 th Victoria cap . 82 , for the week ending on Wednesday , the 19 th day of January , 1859 . ISSUE DEI'ABTMESr . ¦ - . '¦ .. - £ ¦ \ ' : ¦ ¦ ¦ ¦ ¦ ¦ ¦ £ Notes issued ......... 33 , 035 , 670 Government debt .. 11 , 015 , 100 Other securities ... 3 , 459 , 900 Gold coin and bullion .. 18 , 500 , 670 Silver bullion 433 , 035 , 670 £ 83 , 035 , 670 BANKING DEPARTMENT . £ . . £ . Proprietors' capital 14 , 553 , 000 Government secuftest 3 , 248 , 430 rities ( including Public deposits ( in- Dead Weight Ancluding Exche- iiuity ) .......... 1 , 0 , 093 , 807 qucr . Commission- Other Securities . 1 ( 1 , 507 , 901 ers of National Notes- ... 1 ^ , 044 , 485 Dobt , Savings' Gold and Silvor Banks , and Divi- Coin 025 , 599 aendAccounts ) .. 6 , 200 , 209 Other deposits ... . 14 , 948 , 727 Seven Pay & other Bills 8 CC . 3 G 0 £ 30 . 876 , 702 £ 39 , S 7 C , 782 M . MARSHALL , Chief Cashier . Dated the 20 th day of January , 1859 .

      Commercial Bank Op London. The Half-Year...

      COMMERCIAL BANK OP LONDON . The half-yearly meeting of shareholders in the Commercial Bunk was held on Tuesday afternoon , at the bank , Lothbury . Mr . Mark Hunter , chairman of the- board of directors , presided . The secretary read the following report and balance-sheet :- — " The directors have now to lay before the shareholders of tho bank the balance-sheet for tlio half-yonr

      ending 81 st Dec ., 1858 , showing a net profit ( including 13917 . 8 ^ . 8 d . brough t forward from tho last holf-yonr ) of 18 , 822 J . Is . 5 d ., after paying all expenses nnd making provision f 6 r bad and doubtful dobts . Tho directors propose to declare a dividend for tho half-year at the rate of ( J per cent , per annum , payable on and after tho 8 ist instant . The dividend will require 9000 / ., and after allojring 8420 £ . 19 s . 5 d . l \> r rebate oh current bills not yet duo , there will remain a balance of 1401 / . 2 s . to bo carried forward to tho present half . year .

      and furniture ( premises held on lease ) , 300 d £ —Total , 1 , 291 , 706 / . 7 s . " Dividend at the rato of 6 per cent , per annum for the half-year ending the 31 st of December , 1858 , 9000 / . ; rebate of interest on current ¦• bills carried to profit and loss new account , 3 , 420 / . 19 s . 5 d . ; balance carried to next half-year , 140 l £ 2 s . Total , 13 , 822 / . Is . 5 d . Balance brought down , 13 , 822 / . Is . 5 d . —Total , 13 , 822 / . % s . 5 d . " The Chairman remarked , in moving the adoption , upon the low rate of interest , and "V face of that fact it was impossible to expect large dividends with 1 - out an increase Of business . He was sorry to say the business of the hank had not increased ; but if it had not increased in quantity it had in quality , as the current balances of customers were returning to a point which very nearly equalled the deposits in interest . The dividend , though not large , was safe , while / the stability and securities of the bank could not be surpassed by any other joint-stock bank in London . •'• .. ¦ ' . Mr . Underwood seconded the motion , advocating a reduction of the capital of the bank . The report was adopted -without discussion , and the dividend having been declared , the proceedings closed with a vote of thanks to the chairman and directors .

      "Balance-sheet . ~ -. Dr .: Capital subscribed , 1 , 500 , 000 / . ; capital paid-up , 20 / . oach on 15 , 000 shores , 300 , 000 / . ; guarantee fund , 75 , 000 / . j balance duo to the customers « J )* nk » 902 , 884 / . 5 s . 7 d . $ bulauco of undivided Fi i . ' , 8 Qth June » l W > 18 *>* A 8 o . 3 d . ; not profit for ww Half-year ending December 3 lat , 1858 , after paying incomo-tw * and deducting all charge * and ojfponaea , y . ^ Wna provision for bad ami doubtful dobta , lVaooi ¦ . ' s Imlnnco 4 oarricil down , * o tf » tho , r , ?& i \* 6 «« r-Tot « i ; ' 1 , 291 , 700 / . 7 s . Cr . s Cult tn « CL « ... ftna * ¦ " »• B «» k ot England , KxfinSKP 4 *» IntUft Domta , and Government Scduritlw , 1 S £ *• ; M . I WHf dlaconntod , loan * on ato « k , u . u !

      The City Bank. The Sixth Ordinary Genera...

      THE CITY BANK . The sixth ordinary general meeting of the shareholders of this bank was held on Tuesday at the London Tavern ; Sir R . W . Carden in the chair . The report and statement of accounts were as follows : ¦ — " The Directors have the gratification to report that the business of the hank has , throughout the past halfyear , continued the same steady course of extension which has marked its progress from the commencement

      of its operations ; and they have the pleasure to announce that , notwithstanding the low rate of interest which has prevailed during the whole period to which the accompanying accounts relate , ' they are enabled , after paying all the current expenses of the establishment , and making a liberal- provision for bad and doubtful debts , to declare the usual dividend of 51 . per cent ; per annum , free of income-tax , and to carry forward the sumof -6-98 : 2 / . lite . lid . to the credit of the new profit and loss account ,. for disposal at the . end of the financial year .

      year . With these observations he would sit down , only repeating that he should be happy to answer any questions which might be put to him . A pause having ensued , and no question being- put , The Chairman , after observing that he was glad to find that the report was considered so satisfactory ^ moved its adoption , which was seconded by . Mr . Cameroux , and carried unanimously . A . resolution was then passed , authorising the payment of a dividend at . the rate of five per cent , per annum on and after Tuesday , the 25 th inst . Thanks were then voted severally to the chairman and directors , the manager , Mr . White , and the auditors , Mr . W . Anning and Mr . Ovyen Lewis , after which the meeting separated .

      " Liabilities and Assets , on the 31 st Dec , 1858 . — Dr : To capital paid-up , viz , 50 / . per share on 6000 shares , 3 . 00 , 000 /; ., - to amount of reserved fund , 30 , 000 / . ; to amount due by the bank , 1 , 7-19 , 74 : 7 / . 2 s . 9 d . To profit and loss for the balance of that account , viz . : — Surplus profit brought forward from last half-year , 2591 / . 10 s . ( 3 d ., since added , 24 , 88-i / . 4 s . ; together , 27 , 175 / . Us . 6 d . ; total , 2 , 107 , 222 / . 17 s . 3 d . Cr . : By Exchequer Bills and East India Bonds , 204 , 918 / . 14 s . 2 d . ; by other securities , including bills discounted arid loans , 1 , 737 , 980 / . O ' s . . 8 d . ; by building , furniture , and fixtures , 20 , 490 / . 7 s . Id . ; by cash in hand , at Ba . uk of England , and at call , 134 ' , 833 / . 15 s . 4 d , ; total ; 2 , 107 , 222 / . 17 s . 3 d .

      ^' Profit and Loss Account , —Dr .: To current expenses , including salaries , rent , stationery , directors ' remuneration , proportion of building expenses , allowance for bad , doubtful debts , income-tax , & c , 10 , 0 ^ 3 / . 0 s . 9 d . ; to amoupt carried to profit and loss new account , being rebate on bills discounted not yet duo , 2899 / . 5 s . 7 d . ; to dividend account for the payment of a dividend at the rate of 5 per cent , per annum upon 300 , 000 / ., the amount of paid-up capital on G 00 O shares , 7500 / . ; to undivided profit transferred to profit and loss new account , 6982 / . 10 s . Hd . ; . total , 27 , 475 / . lid . Cd . Cr . : By balanco brought down , viz . surplus prolit brought forward from last half-year , 2591 / . 10 a . 6 d . ; since added , 24 , 884 / . 4 s . ; totul , 27 . J 75 / . 14 s . 6 d . "

      Uho Chairman said thore was nothing for him to do but to repeat the statement in the report with regard to the steady course of extension which had marked the history of tho bank from the commencement . Mention was made in tho report of tho low rate of interest which had recently provailod . Of courso tho mooting was a ware that ft low rato of interest was rather against deposits . The public woro very well satisfied to loavo tlioir money in a bank if they could got 8 or 4 per cent , on deposits , but whon tho rato of interest was reduced to 1 $ or 2 por cent , they naturally looked out for soino investment which would yield abettor roturn . Ho should bo very happy to answer any question which might bo nut

      to him witli regard to any part of tho report . It must bo satisfactory to tho mooting that while tho board recommended the declaration of a dividend nt tho rato of 5 por cent , por annum , from 7 BOO / , of profit m ' ndo during tho half-your , thoro was an Itom ahnoat as largo to bo carried forward to tho succeeding half-year , It would bo rocolloeUnl that tho directors bad thought it necessary to uruwitfo that : 5 por com , ahmiM bo divhknl in . January , tho surplut * , whatever It might bo , Uolng . kft for ( Uvlaiuii ul tho . Inly mooting . Thoy wouUl uow carry forward to tho next hnlf-your very uoarlv us nmoli »« It wan propoaoil to illvMe , ami lio nood not toll tlioin hon muoh ttiwy mitflu tiavo aividod it' ( hoy had takop all tltu proflU , ftOrtj * ad feouwtly enmod aurina th « d « h half-

      Fkomtiie London Gazette. Tuesday, Januar...

      FKOMTIIE LONDON GAZETTE . Tuesday , January 18 . ; BANKRUPTS . Charles King , Newington-causeway , silkmercer . Willj ' am Roberts , King ' s Lynn , grocer . William Davies , sen ., Baldock , Hertfordshire , baker . William Buckley Jones and Henry Dermot Dempsey , Liverpool , shipbuilders . William Titterinqton , Liverpool , wine dealer . Lewis BIcIver , Liverpool , merchant . SCOTCH SEQUESTRATIONS . J . Rehnie , Glasgow , wholesale fancy warehouseman . A . Frood , Glasgow , draper . D . Caw , Milnab , near Crief , farmer . ( D . Renwick , Greenlaw , Berwickshire , cattle dealer . Friday , January ' 21 . BANKRUPTCIES ANNULLED . Robert Speek , Oldham , tailor . Richard Rothwell and William Ja > ies Rothvvell , Rochdale , manufacturers . James Godlding , Carlisle , grocer . BANKRUPTS . William Stose Hayes , Liverpool , outfitter . . Duncan R . B . Liddle , Princes-street , Le ^ cester * s < luare ) wine merchant . ¦ . George Cottox , Rochester , builder . James Mocnt , bobbin manufacturer . William Hutciiings , TMoretonhampstead , Devonshire , linendraper . Hesbt Smith and . Henev Mills , Chester , printers . William Hienry Turner , Bishbpsgate-street Without , . draper . ¦ ¦ , " . '¦ .. ' •¦ ¦¦¦ ¦ ¦ Jajies-Agkis Churchill , Colchester , veterinary surgeon . Thomas Sabiuel Watson , Tonbridge-wells , grocer . William Pbangley , Salisbury , music seller . Robert Davis Re a , St , George ' s-road , South wark , horse dealer . Richard Hicks , Camden-town , coal merchant , petition . for arrangement . William A . Lamprell , Long-lane , Smithfield , builder . George F . Whiter Bernaiid Courtney , and Samuel Triggej Mark-lane , wine merchants . SCOTCH SEQUESTRATIONS . Geokge Gaul , Glasgow , spirit merchant . George Henderson , Edinburgh , coppersmith . William Fraser , Perth , writer . Sir Richard Gktwin , Bart ., formerly of Sligo , now of Innerleithen , Peebles .

      The American Lakes.—Some Idea 0 The Enor...

      The American Lakes . —Some idea 0 the enormous commerce of the American lakes may be gathered from tho following notice of Lieutenant Maury ' s lecture in the Detroit Advertiser : — In his lecture in Detroit , on Thursday evening , Lieutenant Maury stated , upon the authority of Colonel Graham , to the department at Washington , that the shipping and commerce of Lake Michigan amount to 218 , 000 , 000 dols . He also states that the value of the shipping and commerce passing over the St , Cluir Flats averages daily , for 230 days of

      each year , 1 , 128 , 223 dols . At this estimate 112 vessel ^ valued with their cargoes at 10 , 000 dols . each , must pass over tho Flats daily , lie states tho valuo of tbe lake commerce to bo 200 , 000 , 000 dols . to each lake , except Lake Erio , which is estimated at 300 , 000 , 000 dols . Another statomont niado by tha Lieutenant was that if the supply of tho lakoa were out oft ' , ami evaporation stopped , it would require an outlet as largo as tho Mississippi rivor 112 voars to exhaust the water of the , lakos . "

      Insurance in Holland . —In tho Second Chamber of Holland , a bill lias l > oou presented regulating the conditions on which foreign insurance companies may bo authorised in Holland . Ono of tho stipulations to bo insisted on is , that each company keeps a spooial agent in tho country to roprosont it . Tiik l . ivicurooi . Docks . —Tho uow Dock Board had roriolvi ' tl to apply to Parliament fur powers to borrow i ) . 0 O , oiH >/ . for tho purpose of Improving « ml extending tlio , docks ., Tho , chairman stated , a » » n ovldenoe of tho r * atlst ' ui tory condition o ( tho odtato , that tho receipt * , of tho IKi . ud Tor lO & ti hud ONCOodod thosu o [ 1867 by . '> 00 / ., though tho returns in 1 » 07 were ^ iwitor titan h * d pro-Tittlisly bMHkAXAMtiMWMt *

  • Citation
    • Leader (1850-1860), Jan. 22, 1859, page 27, in the Nineteenth-Century Serials Edition (2008; 2018) ncse-os.kdl.kcl.ac.uk/periodicals/l/issues/cld_22011859/page/27/