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Newspaper
Weekly Chronicle
Location
London, Middlesex, United Kingdom
Date
Jul 30, 1864
Page
6
The meeting approved the adoption of the balance sheet and a 15 percent per annum dividend. Directors were praised for prudent engagements and a stronger reserve fund. Auditors receive £50 each as annual remuneration. No further call is presently planned.
The half year ending December 31 1863 in the colony and June 30 in London shows gross profits of £16,930 7s 6d plus £63 6s 4d in London fees, total £16,993 13s 10d. A 10 percent dividend funded from £200,000 ordinary stock is proposed, with £10,000 income tax and £473 15s 5d added to the reserve fund. The chair notes capital growth boosts profits and dividend.
In Committee on the Whcuts any Measures bill the Lords debated the late session timing. The Earl of Donoven More urged dropping the measure for now amid doubts while Earl Granville dissented. After brief remarks the main clauses were agreed to, with Clause 3 amended to sanction decimal subdivision, and the remaining schedule clauses approved.
A correspondent criticizes the metric system proposal in the Lords. He questions Lord Brougham’s support, warning it would cause daily injustices in prices and fractions for small purchases. He favors binary weights and measures and urges reconsideration. July 22.
Messrs Lockwood and Co publish tables by C H Downing showing British standard measures against present continental metric usage. The work includes data on sources and practical notes for mercantile dealings with foreign states.
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