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Newspaper
Weekly Chronicle
Location
London, Middlesex, United Kingdom
Date
Jun 25, 1864
Page
13
At a special meeting in London the European Bank (Limited) announced an interim dividend of 15s per share about 14 percent as part of its English and Irish Bank amalgamation. Directors outline future plans to increase capital to pursue opportunities and report after August 31.
The twenty third annual general meeting of Soutil Australian Banking Co was held at Bank buildings with Mr E Divett chairing. The report and accounts were adopted after brief remarks by Waterhouse who noted the bank’s sound position in the colony and rising breadstuffs exports boosting prosperity.
The local board’s cautious stance curbs speculative risk while copper mining and pastoral activity drive growth. India may increasingly source copper from Australia, with trade valued around £200,000. Government loans focus on productive works as shareholders receive a 10 percent dividend, and directors are re-elected amidst steady profits.
An extraordinary meeting of Land Mortgage Bank of India shareholders at the London Tavern approved using new corporate seals under The Companies Seals Act 1864. Directors aim to place official seals in Bengal Madras and Bombay to facilitate Indian operations and future debenture issues.
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