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Newspaper
Weekly Chronicle
Location
London, Middlesex, United Kingdom
Date
Jul 23, 1864
Page
3
Shareholders praise the bank’s half year profits and near zero losses while the board urges raising the reserve from £300,000 to £500,000. The meeting backs the report, elects H. J. Norman, and grants thanks to the chairman and managers for strong stewardship.
The seventeenth ordinary meeting at the London Tavern chaired by Sir J. W. Shelley reports half year profits of £87,575 with £59,321 available for dividend. Directors announce 20 percent per annum payout and a £130,000 reserve fund, plus £39,000 from new shares received.
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