Bankers Circular (Newspaper) - February 11, 1860, London, Middlesex AND MONETARY TIMES OR JOURNAL OF BRITISH AND FOREIGN BANKS RAILWAYS AND Established 1828. No. 1745.] FEBRUARY 11, 1860. TWENTY-SECOND REPORT OF THE DIRECTORS OF THE BANK OF for the Half-year ending 31 st Dec. 1859. At a HALF-YEARLY GENERAL MEETING of the held at the on the 17th of 1860-present, the Directors and forty-seven The advertisement calling the Meeting was and afterwards the following Report The Directors have now to lay before the Shareholders of the Bank the for the half-year ending December 31, 1859, exhibiting a net 10s. brought forward from last of 9s. 2d., after paying all of and making provision for bad and doubtful This enables the Directors to recommend a Dividend for the half-year at the rate of per per payable on and after the 28th The Dividend will absorb and after allowing 4s. for rebate on Current Bills not yet a balance of 4s. 3d. will remain to be carried forward to the next half-yearly Edward Stillingfleet having resigned his seat in the James who is a duly qualified offers himself as a Candidate for the vacant pursuant to COMMERCIAL BANK OF BALANCE SHEET TO DECEMBER 31, 1859. Dr. s. d. Capital subscribed Capital each on 15,000 300,000 0 0 Guarantee Fund 75,000 0 o Balance due to the Customers of the 926,314 8 2 Balance of undivided 30th 1859 10 10 Net profit for the half-year ending 3lst 1859, after paying Income and deducting all charges and and making provision for bad and doubtful debts 14,228 18 4 15,243 9 2 17 4 CR. s. d. Cash in the and at at the Bank of Exchequer India and Government Securities 207,405 15 10 Bills loans on and other securities 1,106,152 1 6 and furniture held on 3,000 o 0 17 4 Dividend at the rate of per cent. per for the half-year ending 3lst 1859 10,500 0 0 Rebate of interest on current bills carried to profit and loss new 3,456 4 11 Balance carried to next half-year 1,285 4 3 9 2 Balance brought down 15,243 9 2 The Report and having been 1. It was the Report and just read be and circulated amongst the The Mark on the part of the declared a Dividend on the capital of the Company at the rate of per per annum for the past free from payable on and after the 28th 2. James be elected a Director of this Bank in the room of Edward Stillingfleet 3. the thanks of this Meeting be presented to the Chairman and Directors for their attention to the affairs of the Bank during the past 4. the best thanks of the Shareholders be given to the Mr. MARK LONDON AND COUNTY BANKING Subscribed Head Philip Patton Esq. Thomas Tyringham John William Esq. William Esq. James Andrew Esq. John Esq. Edward Esq. William Champion Esq. James Esq. John Henry Esq. William William general William Esq. At the HALF-YEARLY MEETING of held on the 2nd at the LONDON the following REPORT for the year ending the 31st 1859, was read by the WILLIAM CHAMPION in the The Directors have the pleasure of presenting to the Shareholders their Report for the half-year ending the 3lst 1859. It will be seen by the signed by the that the net profit of the Bank for the last including the sum of 14s. brought and after deducting all and and making provision for bad and doubtful amounts to 7s. from which the Directors retain the sum of to be added to the Reserve thereby increasing it to The Directors recommend the payment of a dividend of 6 per for the free of which will absorb and with 5 per already will make 11 per for the leaving a balance of 7s. to be carried forward to Profit and Loss New The Directors retiring by rotation Joseph Christopher Philip Patton and William Mr. Blyth and Mr. Lee offer themselves for reelection Mr. Ewart is not a as he finds his other engagements prevent his discharging the duties of the office with satisfaction to and as the Board will still consist of 12 no increase is recommended at The div. will be payable on and after the 13th inst. BALANCE SHEET OF THE LONDON AND COUNTY BANKING 3lst Dec. 1859. Dr. To Capital paid up 0 0 Reserve 105,000 0 0 Amount due by the Bank for &c. 4,975,029 0 0 Profit and Loss balance brought from last account 14 10 Cross profit for the after making provision for bad and doubtful debts 110,952 4 11 117,243 19 9 Cr. By cash on hand at 1 9 Head Office and Branches 6 8 Cash placed at call and at notice 869,306 9 10 1,419,796 16 6 Government and 13 9 Other Stocks and Securities 95,210 7 5 Discounted 596,644 1 2 and temporary advances to Customers in town and try Advances to Customers on special 388,386 7 10 0 11 Freehold premises in and freehold and leasehold property at the with fixtures and fittings Interest paid to customers Salaries and all other expenses at Head Office and on profits and 3,535,793 8 9 78,179 13 19,869 17 46,989 3 1 Profit and Loss To interest paid to customers 17 0 as above 46,989 3 1 Rebate on bills not carried to Profit and Loss New Account 0,319 11 9 Reserve 5,000 0 0 Dividend of C per for the half-year 30,000 0 0 Balance carried forward to Profit and Loss New 7 11 Cr. By Balance brought forward from last Gross Profit for the after making provision for bad and doubtful 19 9 0,291 14 10 110,952 4 11 19 9 the have examined the foregoing Balance and have found the same to be HENRY JOHN London and County Jan. 26, The foregoing Report having been read by the the following resolutions were proposed and unanimously adopted - 1. That the Report be received and and printed for the use of the 2. That a Dividend of 6 per be declared upon the Capital Stock of the for the half-year ending the 31st 1859, clear of payable on and after the 13th February and that the balance of 7s. then be carried to Profit and Loss New 3. That the thanks of this Meeting be given to the Board of Directors for the able manner in which they have conducted the affairs of the 4. That the thanks of the Meeting be presented to the Auditors of the Company for the past 5. That Frederick Henry and John be re-elected Auditors for the current and that their joint remuneration be augmented from 60 guineas to per 6. That the thanks of this Meeting be presented to William the General Manager * W. J. the Chief R. P. the aud the other officers of the for the zeal and ability with which they have severally discharged their respective The election of two Directors having been proceeded the following gentlemen were unanimously re-elected Philip Patton and William Esq. W. C. 19 9 The Chairman having quitted the it was and carried That the cordial thanks of this Meeting be presented to William Champion for his able and courteous conduct in the WILLIAM from the R. P. LONDON AND COUNTY BANKING NOTICE is hereby that a DIVIDEND on the Capital Stock of the of 6 per for the Half-year ending the 3lst 1859, will be PAID to the either at the Chief 21, Lombard or at any of the Company's Branch on and after the 13th By order of the W. General 21, Lombard 2nd 1860. BANK OF Directors hereby give that a DIVIDEND on the Capital of the at the rate of per per for the half-year ending December 31, 1859, free from will be PAYABLE at the in on and after the 28th By order of the A. R. Dated January 17, 1860. TO &c. Nations Mind and Public Correspondent Just Suggestions fer a System of a Guaranteed leading to a Decimal With a variety of other orignal matter of general public Price at 23, E. C.
