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This newspaper page contains 4 articles. Subscribers can read the full text of each article.
Newspaper
Weekly Chronicle
Location
London, Middlesex, United Kingdom
Date
Jan 21, 1865
Page
8
The chairman praised the officers and disclosed a full raise in salaries while noting the staff felt well treated. A shareholder asked about testing accounts, and the board agreed their honesty aided audit readiness. A vote of thanks to managers, secretary, and staff followed, ending with gratitude to the chairman and directors.
The ordinary meeting at Princes Street discusses the bank’s best accounts yet, a £1,080,000 capital base, and a new share issue with 227 unsold shares sold for profit to boost the guarantee fund. Directors praise the results, approve the report, and retain officers.
The half year meeting of Imperial Bank shareholders at the London Tavern reaffirms profit, declares a 10 percent dividend, with 5 percent dividend in lieu of interest for second and third issues. Directors and auditors are re-elected, and thanks are offered to the chairman, manager, and officers. The chair stresses prudent banking and steady, safe growth amid recent financial pressures.
The eighteenth general meeting at London Tavern chaired by Sir J V Suelliy saw £77,550 raised from £50 shares, £136,570 added to reserves, and 49 unallocated new shares to be sold, lifting capital to £400,000 and reserve to £300,000. Directors praised stability and expected higher future profits and dividends. A shareholder queried a possible large bad debt. the chairman denied any loss, endorsing a cautious path with the expanded reserve.
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