CITY OF GLASGOW BANK.

Inangahua Times, Volume 11, 28 October 1878, Page 2

CITY OF GLASGOW BANK.

Tho following with reference to this bank, tho failure of which is rcferrod to in a recent c.ibloj:£n>osfln«o f in from tho August number of tbo Banker's Majja* zino :— •• Thirty-ninth nnnuiil report by thodiroc' tors to tlio shareholders, road at tho annual mooting, July fl. 1878. 11 Tho directors submit lor tho approval of tho shareholders tho thirty 'ninth nnnunl report, made up to Juno 5 lnst. Tho "result of lu«t year's hu<ini<H* is n* follow*, viz : Tho bnlancu brought forward at credit of profit and losn nucount from tlio previous \ear nmoun'cd to £13.501 12s Od. from which has to bo dodueted incon?o»tnx o< diviilond pitiJ to shareholders, in nocovdanco with ar^ilntion of lnst Annual mooting, £1500. lontinu tho sum brought forward £17,001 12h 0.1. fho balance nt the credit of profit and lossjieeouut for the yenr endicsf Juno 5 la«t amounts to £1 25,004 0s 41, making n total of £142.005 12s 101, from which 'ho diivotors recommf-nd— lst, Tlmt a dividend nt tho roto of 12 par cent ppr unir.un fioo of income It\x ho donlnroi] pnynhlo Auau<it 1 nnd Pohrunry 4 next, Hmountinjj to £120,000— 2nd. Thflt tho whole of tho recent cofnlcntion nt Bunk of Mnnn lie \rnt.tcn off, nmouutimc to fSv^Ta — 3rd. Thnt tho biilannfl l>o rnrriod forward to tho credit of profit nnd Inns ncniunt for next year, £13,252 12s lOd — £142,095 12s lOd, icnruiß tho H«»sorvo Fund js ni prespnt £450,000, With rr«ftrd to the rlofnlo&tion at tho Bunk of Mona, Donjj" las, Ihlo of Mini, roforrod to nboro, your dirrotors have every hopo tlmt n consicl«»ral)l« portion of tho snm now pro» poß<?d to bo written off will bo recovered. They, howovor, ronoiumond thut in tho nicuntimo tho whole aiiu-unt should bo provided for. Tho directors a*« in* formed by tho Bank Architects that tho promises in Glnsnford street will probably be roofad in by the ond of this yeur. Mr John Stewart rotirws at this lime by rotn* tion as m\ ordmury director, but is eligible for ro election, which tlio directors ros« poet fully recommoiul." ABITHACT nAI,ANOI!««nKKT A3 AT JUNK 5, 1878. Liabilities.— Deposits at tho hend* oflico and branches, nnd biilanooi nt Iho credit of bnnkinß correipondunis, £8,102,001 0» 41 ; Bunk noton in circulation in Scotland and tho Islo of Man. £710.252 ; DrnfU outitandinjf, due, or with ft currency not exceeding 21 dnys, nnd draft* nonopted by tbo bonk and its L'-ndon nponts, on account, of U'ouia and Forcian con^ituonte, £1,'158,5J44 18s 6 ) • Capital necount, £1,000.000 ;, Kexorvn fund, £130,000 i Profit and loss, £142,005 12* lOd.—Totnl, ;£11,8!)2.093 Us Bd, Assr.Ti.— Bili.i of oxchnn.,'o, local nnd country bills, orcdit accounts, and othor advanoos upon scciyj|j|^iJ^dßl,'iO!> 0* 3d ; Advances on hi^^HHHbpdrty, ond vftluo of bnnlc biiil|j|HpHpOt)'i)iture at, hoad«o(Hccs and br:\!)6Tuis7X'2oi),:)2'li fli ; Cnhh on hand, viz :— Gold and silver c in and notes of other banks ut hcad*ofßcos ', and brunches, £B'ls.{Jr)3 Is ; Government stooltK, Kxi'luqnor Hills, railway ami other stocks nnd debenture*, and balances in hands cf banking eorrcspondont*, ■ £3.i'06.830 12< o,!.— Total, UsW, > I ; - v- •