March, 1907.] 



KNOWLEDGE & SCIENTIFIC NEWS. 



IX. 



LONDON AND COUNTY BANKING COMPANY LIMITED. 



Registered under "The Companies Acts." Established in 1836. 



CftPITAt £8,000,000, in 100,000 Shares of £8 each. 



REPORT adopted at the Half- Yearly Ordinary General Meeting, the 7th February, 1907. 



CHARLES JOHN HEQAN, Esq., in the Chair. 



The Directors in submitting to the Shareholders the Balance-sheet for the half-year ending 31st December last, have to report 

 that after paying interest to Customers and all charges, making provision for bad and doubtful debts, and allowing £43.106 6s. 5 d tor 

 rebate on bills not due, the net profits amount to £325.006 is. tod. From this sum have been deducted £50,000 allocated <° ™" n g 

 down the Bank's holdings in Corporat.on Stocks. £25,000 transferred to Premises Account, and £50000 carried to Resene Fund 

 (raising it to £1,550,000), leaving £200,006 is. iod., which, with £97.365 2S. lod. Dalance brought forward from last account, 



leaV6S ^Th^Directors^have dedarecTa Dividend for the half-year of 10 per cent., which will require £200,000, leaving the sum of 

 £97,371 4 s. 8d. to be carried to the Profit and Loss New Account. The present dividend added to that paid to 30th June will make 



>o per cent^ ^.^^"'J^ deep regr et, announce the retirement from the Board of William Howard, Esq., who entered the service of 

 the Bank in 1862, and who has been for the past ten years a most valuable member of their body. 



The Directors retiring by rotation are William McKewan, Esq., Oswald Cecil Magmac, Esq , and Charles James Cater 

 Scott, Esq., who, being eligible, offer themselves for re-election. • 



The Dividend" £2 per Share, free of Income Tax, will be payable at the Head Office, or at any of the Branches, on or after 



Monday, 18th February. — ==— ^— — — ^ == ^ = =^==^^= 



gr. BALANCE-SHEET of the London and County Banking Company Limited, 31st December. 1906. ffr. 



To Capital subscribed £8,000,000 £ s. d. £ s. d. 



Paidup 2,000,000 



ReserveFund 1,550,000 



Due by the Bank on Current, Deposit, and 



other Accounts, including provision for 



Contingencies 44.990,316 12 9 



Liabilities on Acceptances, covered by Cash, 



or Securities or Bankers' Guarantees 2,722,692 2 10 



Rebate on Bills not due carried to next 



Account 43,106 6 5 



Net Profit tor the Half-Year, after making 



provision for Bad and Doubtful Debts .... 325,006 1 10 

 Transferred to Investment Accounts 50,000 



275,006 1 10 

 Transferred to Premises Account 25,000 



250,006 1 10 

 Carried to Reserve Fund 50,000 



200,006 1 10 

 Profit and Loss Balance brought from last 



A " _97 L »5_ L 10 4 g 



£51,603,486 6 8 



£ s. d. 

 By Cash at the Head Office and Branches, and 



with Bank of England 8,093,142 9 



Loans at Call and at Short Notice 3.301,623 



Investments, viz. : — 



Consols registered and in Certificates (at 85), 

 New 21 per Cents., and National War 

 Loan "(£6,S94,491 7s. lid., of which 

 £357,000 0s. Od. Consols is lodged for 

 Publio Accounts) ; Canada 4 per Cent. 

 Bonds, and Egyptian 3 per Cent. Bonds, 

 Guaranteed by the British Government 6,654,438 16 1 



India Government Stock and India Govern- 

 ment Guaranteed Railway Stocks and 

 Debentures 898,981 16 10 



Metropolitan and other Corporation Stocks, 

 Debenture Bonds, English Railway De- 

 benture 8tocks and Colonial Stocks 1,64 1,109 IS 



Other Securities 19.586 17 9 



Discounted Bills Current 7,628,467 3 



Advances to Customers at the Head Office 



andBranchas 19,885,994 8 



Liabilities of Customers for Drafts accepted 



by the Bank (as per Contra) 



Bank Premises in London and Country, 



with Fixtures and Fittings 829,446 13 11 



Lem amount transferred from Pi -.Hit an. 1 1. 1 ! ,00J 



s. d. 



11,394,765 11 9 



9,217,120 6 5 



27 464,461 11 9 

 J 2 10 



B04.446 13 11 

 £51,603,486 6 8 



PROFIT AND LOSS ACCOUNT. 



£ e. d. 



To Interest paid to Customers 231,273 2 1 



Salaries and all other Expenses at Head Office and Branches, 

 including Income Tax on Profits and Salaries, Auditors' 



and Directors' Remuneration ■ 331,311 1 1 



Transferred to Investment Accounts 50,000 



Transferred to the Credit of Premises Account 25,000 



Carried to Reserve Fund 60,000 



Rebate on Bills not due, carried to New Account 43,106 6 5 



Dividend 10 per cent, for the Half-Year £200,000 



Balance carried forward 97,371 4 8 



297,371 4 B 



£1,028,065 4 2 



By Balance brought forward from last Account 



Gross Profit for the Halt- Year, after making Provision for 

 and Doubtful Debts, and including Reb.t:. 

 brought from 30th June last 



Bad 



-1., 



s. a, 



J 10 



930.700 1 1 



£1,038,086 1 I 



Examined and Audited by us, 



Audit Committee 



of Directors, 



(Signed) J. J. CATER, 



E. H. CUNARD, 



W. E. HUBBARD, 



H. R. WYATT, Head Office Manager. 



W. G. GRIBBLE, Country Manager. 



T. J. CARPENTER, Chief Accountant, 



London and County Banking Company Limited, 

 lltli January, 1907. 



In accordance with the provisions of the Companies Aot, 1900, we 

 certify that all our requirements as Auditors have bean compiled with, 

 and wo report that we have examined the Balance-sheet and Profit and 

 Loss Account, dated the . 1906, h.ive vended the Cash- Balance 



at the Bank of England, the Slocks there registered, and the other invest- 

 ments of the Bank. We have also examined the several Books and 

 Vououers and certified U-turns showing the Cash-Balances, Bull and 

 other Amounts set forth, the whole of which are correctly stated ; and in 

 our opinion the said Ualance-shnet and Profit and Loss Account are 

 properly drawn up, so as to exhibit a true and correct view of the 

 Company's affairs as shown by the books of the Company. 



Jompany t 



(Signed) 



11 V. GRANT, 



THOS. HORWOOD, 



STUART PI.EYDELL-HOUVERIE, 



AuMtori. 



LONI'ON AND COCNTT BANKING COMPANY LIMITED, 



17fn Jiinunry, 1907. 



