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A statement is also submitted to the meeting received from Mr. Skinner, (the trustee) of the Government paper now in his possession, amounting to rupees 81,800 (the interest on which he inves's in the 4 per cent. loan) and a cash balance of rupees 77. 83 reas and there is now a total balance in favour of the subscribers of rupees 85,931, 3.9, exclusive of the sum in the hands of Messrs. Coutts and Co.
Rupees 47,0763, 68 or £5,000 sterling were remitted, as stated in the committee's last report, and in terms of resolutin 8th of the 11th January last, remains in the hands of Messrs. Coutts and Co., of London.
Rupees 7,000 were appropriated, also under the au. thority of the meeting of the 11th January, to meet Mr. Ashburner's expenses, and rupees 3,143 3 10 have been further disbursed by the countmittee here since its appointment.
The meeting will perceive by these statements, that besides the salary of the Secretary to the committee, which was fixed on the very lowest scale, viz. 150 rupees per mensem, the allowance to the agent in London, and the charges of the solicitors here ; the expenditure of the committee has been limited to rupees 485, 1,40 principally for Bank notes, advertisements, and postage.
The committee, in now submitting their proceedings, since the last General Meeting, for the inspection of the subscribers, have only further to state that they trust they will meet their approval.
With the writer of that letter, we entirely concur, and recommend what he has said to the grave consideration of all concerned. We are totally averse to the practice which has hitherto prevailed of calling the public meeting of this institution in a private office, where it was impossible that any thing like a decent sprinkling of the shareholders could be brought together. In fact we are of opinion that summoned in this way, the meetings can hardly be called any thing but private, and are considered rather in that light than in the other by the great body of the subscribers, particularly among the native community. Why not convene the Bank meetings in the Town hall, an apartment large enough for every purpose and which no one would demur in entering, as he would into a private office. For committees, the latter is all right and proper, but for general meeting of bodies so large as that of stockholders in the bank, every one will allow that the Town Hall is in all respects much better adapted.
The plan proposed by our correspondent, of announcing the measures to be brought forward at the General \leeting, is an excellent one, and if adopted, would give every one an opportunity of stating his opinion. As it is, many, for the reason above stated, do not attend, and those who do, are quite taken by surprise as to the motions which they find made, seconded, and for the most part agreed to by the subscribers—who are present. This ought not to be, and a public notification of the business to be proceeded with, would have the effect of putting every one on his guard. We could wish that the late proceedings, in justice to all the subscribers, had been tested in this manner, in which case we should have looked forward to a very different result.
With regard to the allowance given to Mr. Ashburner, we think it quite an extravagant one, considering the present circumstances of the bank. His first allowance was understood to include the amount of passage money to and from Great Britain. Even this deduction would leave a handsome surplus for his services in favour of the Bank, and if the new advance is to be made in proportion to the original, instead of the reduced amount, then will the Bank Agent have but little reason to regret the continuance or delay in a settlement of the question, which is so anxiously looked forward to. We admit that a great deal has been done, nay we are ready to admit that all has been ..". is necessary, till an answer is received from the court. Where then is the gain to be reaped from further expenditure? all has been done, what work is there then yet to do, before the receipt of this portentous answer We shall be told, perhaps, that though not positively engaged in advancing what is placed under his care, an agent may yet be pretty well employed in looking after contingent advantages and in collecting information that may possibly be useful. To this we reply, that so long as an agent is kept in pay, equally long will there be a nominal duty for him to perform ; but we think the simplest, most satisfactory, and most economical plan, would be to recommend Mr. Ashburner to return, and leave the future management of the Bank affairs to the London committee, several active members of which are directly interested, in its success. The accouutants whom that body has been requested to engage, if well selected will be able to communicate all the information requisite on provincial banking, and thereby supersede the necessity for an agent to make himself acquainted with the details. If these accountants have not been already engaged, they ought to be so immediately, and dispatched to Bombay to open an institution of some description or other. With active assistance, a moderate capital, and a fair field to act upon, there ought to be no further enquiries for an agent to make in either England or Scotland, which could not be much more satisfactorily and profitably answered here.
Bombay Gazette, Jan. 17.
UNIVERSAL LIFE ASSURANCE SOCIETY.
There was a numerous attendence of the share hold. ers of the Universal Assurance Society at the office of the secretaries, on Saturday at eleven o'clock. The annual accounts were laid on the table. We give a brief abstract of the proceedings. It appeared that the amount of the risks outstanding in India to 30th November last and in England to 30th June 1837, was Co. Rs. 85.28,435 on 744 lives in 827 policies, thus giving an average of Rs. 10,312 on each. The lapses from the commencement of the society in 1834, to the present period, London and Calcutta inclusive, are in number twenty ; the aggregate amount of claims thereon Co. Rs. 1,92,333. The assets are as follows :-Of the Indian Branch invested in Co. Paper and on deposits of Bank shares and Co. Rs. 5,71,66. Of the Parent Society, in other similar securities £41,398, or Co. Rs. 4, 13,984. Total Assets Co. Rs. 9,85,645. The report of the directors of the Parent Society was read by the Secretary, afer which on the motion of Hon'ble Mr. Shakespeare, seconded by Mr. G. Hull, it was resolvel—That the report read, together with the
At a monthly meeting of the Proprietors of and Subscribers to the Calcutta Public Library, held on the 6th January 1838.
DR. StaoNG IN the cii AiR.
Present—Dr. Jackson, W. P. Grant, Esq., T. H. Gardiner, Esq., and J. H. Peterson, Esq.
Dr. Strong informed the meeting that as it was probable, that the members of the Medical and Physical Society might have occasion to remove their books from the Asiatic Society, he was desirous to offer the society the use of a part of the Library rooms or a separate room, and asked whether there would be any objection on the part of the Proprietors of the Calcutta Public Library; when it was resolved in compliance with Dr. Strong's wishes, that it would be a mutual accommodation to have the books of the Medical and Physical Society placed in a part of the Library rooms, distinct from their own collection and in charge of a dufftoory, which would be the only expense to the society, as the librarians of the Calcutta Public Library offer their services gratuitously to the Society.
After this the Curators reported that three hundred and forty-six volumes were purchased during the last month, two hundrel and seventy-four volumes of which forming
IV.-That this meeting, made special for the purpose, approves and confirms the resolutions passed at the special general meeting of proprietors on the 15th December, 1837, for increasing the capital stock of the Bank, in the manner then and there laid down, with the following alteration in the 3d resolution, viz., of adding
the words “ or any other” after the word “abovementioned,” and also that the day on which shares shall be sold pursuant to the 5th resolution shall be the 16th February, 1838, and not the 1st February, 1838, as originally expressed.
Proposed by Mr. T. Dickens, and seconded by Mr. H. M. Elliott.
V.—That at the ensuing sale on the 16th February next, purchasers, after payment of the premium in cash, may give their promissory notes payable on or before the 30th June next, with 10 per cent. interest.
Proposed by Mr. James Mackenzie, and seconded by Mr. J. W. MacLeod.
VI.—That the psesent meeting be adjourned to Friday the 16th February next, at noon, for the purpose of declaring and selling the shares not taken up.
The report for the half year expired on the 31st ultimo, will be brief and I trust satisfactory.
The profits actually realized by the Bank during the past six months have been.. ... Co.'s Rs.
1,80,006 11 10
- - - - - - - - - - - - - -
7,007 13 10 We have a total divisable sum of........ . . . . . . . . . . . . . .Co.'s Rs.
The capital stock of the Bank paid up, amounts to........ . . . Co.'s Rs. 31,15,000 0 0
On the 30th June last it was only.................... Co.'s Rs. 21,60,000 0 0
Increase of capital stock since that period......... . . . . . . . . .Co.'s Rs.
9,55,000 0 0
The above divisable profits of the present half year, have therefore to be spread over a considerably larger capital. But they amount notwithstanding to a rate exceeding 12 per cent. per annum, by a small fraction. It may be well to remind you also with reference to the profits realized on the past half year, that during a considerable period the state of things at Home and in China operating on the market here, naturally caused a larger diminution of our deposits, and thereby contracted in proportion the funds of the Bank disposable for the lucrative work of discounting. But for this, the profits of the period, would probably have been greater.
If you divide the whole—say 12 per cent., which may be thought expedient to facilitate the proposed further increase of 8 lakhs of stock, the dividend on each share will be Company's rupees sixty.
Debts. | Due on floating accounts Due on fixed accounts,.... Due on cash credit accounts ... . . . Due for Union Bank Note circulation,... Due on Eleven Dividend accounts, . . .
17,97,430 13 l 67,92,709 s so
10,61,264 0 51
16,209 5 4
Co.'s irs. 4
Shewing on ad subscriber
capital of, . 30,42,567 0 0
—— — 33,95,857 6. 0 Cr. July 1, 1837. By balance of account rendered to 30th June, being subs. cliption on 600 shares at 2,700 lts. each Ditto Supple ment a l share at 900 Rs. each,....
Additional payment on original shares at 300 Rs each, .... Ditto sup. plementary share at 100 Its. each, ... Ditto for new shares at 1,000 Rs. each
16,20,000 o 0
5,40,000 0 0
1,66,467 0 0
55,400 0 0
6,60,700 0 0
8,82,567 0 0
30,12,567 0 0
Add amount of appt. profit to that date,.
Less Dividend paid to proprietors,..
3,26,802 15 10
1,51,200 0 0
1,75,602 15 10 — 32,18,169 15 10 Dec. 31. By discounts realized to this date,.... By interest realized to this date,.... Add due on outstanding Loans. . . . . . Do. do. on cash credits,. Do. do. on Govt. 5 per cent. Papers,. Do. do. on Govt. 4 per cent. do.,...Do, do, on Treasury notes,
83,753 5 6
48,908 7 1
39,294 10 7
4,628 13 4
1,080 1 1 5
4 2 Less due on deposit Account, . . . . . . 15,141 15 9
2, 14,721 10 6
Co's Rs ... 34,32,891 10 4 Errors Excepted, Calcutta, December 31, 1837. A. H. SIM, Accountant. [Hurkaru January 15,
ROMAN CATHOLIC GENERAL MEETING.
Paisciral. Ross AN CAtholic Chunch, 15th JAN. 1838. manifested during their career, and for many of the - improvements which they had introduced. The Reverend The Most Reverend Dr. R. St. Leger in the Chair. gentlemen then thanked Messrs. Crow and Gregory, and The annual meeting of the Roman Catholics for the the business of the day proceeded. On a suggestion election of war'ens, was convened by the usual notifica- from one of the gentleman present, Messrs James Rostan, tions this day, and at 8 A. M. about twenty of the most Junior, and B. Furie were chosen Scrutineers, and respectable Catholic centlemen were present. On the Messrs. Crow and Gregory tellers; on the votes being chair being taken, the most Reverend Dr. St. Leger, ad. | collected the following result appeared.
dressed the meeting, informing them, that the purpose Mr. Francis Rodrigues ............. 16 votes. for which they had assembled was familiar to them, and ,, Mathew Augier. . . . . . . . . . . . . . . 12 ditto. that he felt it his jury to express the satisfactory unanner ,, Samuel Jones. . . . . . . . . . . . . . . . 4 ditto. in which the outgoing wardens, Messrs. M. Crow and ,, John Michie. . . . . ............. 2 ditto. Thomas Gregor, nail conducted their honorary duties ; Messs. Rodrigues and Augier were elected Wardens,
and, said the i8 werent gentleman, they are entitled to and after thanks were voted to the most Reverend Chairthe thanks of the community for the attention they man, the gentlemen retired.-Hurkaru, Jan. 16.
REPORT BY THE DIRECTORS OF THE BENGAL BONDED
Report by the Directors of the Bengal-Bonded Ware- . The Honorable the President in Council was lately house Association, -ni mitted to a General Aleeting of the pleased to forward to us a Draft, which the Legislative Proprietors held on 12th January, 1838. Department was inclined to prefer to the other; and he - invited some of us to wait upon him and the Hon'ble Mr. Had the Association been definitively constituted, the Macaulay, to conser on the points in which, the two period for the Meeting would have been in November ; Drafts differed, as they were desirous to settle these in a but the Directors have deserved calling you together, till manner satisfactory to the Association. the Draft of the Incorporation Act should be published, that you might at the same time have an opportunity of A deputation accordingly waited upon those authorities
taking its provisions into final consideration. to point out the few differences which were held to be of
The course of the Act to its present stage may be , consequence, and found them prepared and anxious to
shortly stated. meet the views of the Association in whatever was reasonable.
The measure was quite new. We had no precedents - here for our guidance. On being desired by the Right | The Draft of the Act having now been published for Hon'ble the Governor-General to prepare a draft, we general information, you have doubtless all, as was inmade our legal advisers acquainted with all that had tended, formed your opinion of its merits. taken place on the subject, whether in correspondence with Government, or at the proceedings of meetings; and We are bound in candor to admit, that it is a decided we from time to time gave such assistance, in suggestiny |improvement on the Draft which was handed up ; it is and revising, as was required, and we were competent to more concise and lucid ; and is, we think, in no wise less afford. comprehensive, or of inferior efficiency. We anticipate that it will obtain your full approbation.
After much labor a draft was at last handed up to the Government, too voluminous probably, as it attempted, The Accounts, and the Books of our proceedings, are by express regulation, to provide for whatever seemed to placed before you. You will there perceive that the be of likely occurrence. We were then required to place Receipts and Disbursements up to 31st ultimo are as our counsel in communication with the Advocate-Gene- follow :
ment of the Drast. ral, for the settleme received,
It had become obvious, that the dimensions of the Subscriptions paid up....... Co. Rs 1,99,900 0 0 Draft must be greatly curtailed, to render it eligible to Rent up to about the middle of Oct., be passed into a law. This having been effected, after on Goods Bonded,.............. 2,535 10 9 much pains and care had been bestowed upon the task, a Balance of interest' and discount on Draft was in October returned to Gove nment, in a very > abridged form as compared with the original. It had been Co.'s Paper,. . . . . . . . . . . . . . . . . . . 1,972 4 3 thought that, were the Society empowered by enactment Price of certain Buildings on the imto frame by-laws (subject of course to the confirmation port ground sold, to be cleared away, 4,268 l l 9 of Government,) for its internal administration, all Charges general,.................. 5 0 0 such rules instead of encumbering the Draft had better -be left to be prepared, discussed, and submitted, after Co.'s Rs. 2,08,676 10 9 experience should indicate what was esseulially wanted.