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Newspaper
Weekly Chronicle
Location
London, Middlesex, United Kingdom
Date
Jan 28, 1865
Page
7
Bank directors defend results citing losses mainly from mercantile bills and a single large Liverpool account. They deny losses from advances on shares, assert strong London operations, and propose reform steps while urging shareholder confidence and potential board changes.
The ordinary half year meeting of Consolidated Bank shareholders was held at the London Tavern chaired by Mr T A Hankey. The chair outlined the report and recommended adoption while noting write offs and ample reserves. A 17.5 percent bonus on paid up capital and over 8 percent added to reserves were reported, with hopes to attract new accounts and mimic the success of the London and Westminster Bank. J A Turner MP spoke on strong Lancashire progress despite the cotton famine, praising solid growth in the North.
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