11 JULY 1840, Page 10

The shareholders of the Union Bank of London held their

first get, ml annual meeting on Wednesday ; Sir Peter Laurie, the Goees4: presiding. From the following extract front the report of the !Sheen it will be seen that the concern is thriving, arid profitable to the files holders- " The number of shares itsued was 42,005, held Ly 736 proprietors, 4, settling a subscribed capital of 2,100,250/ , on which the first call of 51.11adt paid up by all the shareholders. The pnid-up cepital wits, therelbre, 2142.5 The Directors refeired With priiie to the Int of proprietors whieh haelk printed and ch•culated, aid howcil the lirin lairis on with It the credit of establishment was reared. The Directors woe enabled to declare a diri4. of 5 per cent. out of the net profits of the lat:ibe:s to the 30th of Junc,aft, =Idly a full ;Ilk:wane° fen- bad and doubtful debts, liquidating a part VII, prelitnniary expenses, and settiog apart 2,000/. to lc vested in Uovernmentk cut ities as the foundation of a guarantee-fund. The interest paid on carat und deposit accounts was 7,373/. The extreme pressure en the money-mutt at the close of the lost year Lad veneered the greatest circumspection nun smy ; but the accounts would show that the Directors, in preferring a saleut cautious course to the precarious profit from a less prudent line of crake had consulted the ultimate interest of the cc:nip:toy. The Direetovs had opts( all iteCOUllt with the Bank of England, %shirt, accommodation NN the most ptompt and ul.lIging instiller. iiniMus bad yet been duns:40, Legislature to remove the unjust prohibiti..n aid' prevented joint•ston hanks in London from accepting bills at less than six months' date, but Ilk principle had been admitted in the Goveroment Bill of last year tar renesit; the charter of the Batik of Ireland. The Directors exieeted that the Baskiti Committee now sitting would place the whole matter on a sound mid ream aId thoting. A branch bank had been optmcd at the West end uf the tout ed,:eli had fully realized the enticieutions id' the Directors."