The half-yearly meeting of the proprietors of the Bank of
England was held on Tioirsday. '1'lle I/eputy-Gevernor, Sir J. If. Telly, (in the absence of the (overnoe, Sir John Rae lteid, on his wiedding-ex- eurion,) tools the chair. In opening the business of the day, he said the Court of Directors proposed that a dividend of 31 per cent. should be declared on the half year's accounts ending in October Ile preen preeuunrI that he would be ithked how the "rest " s 0,1 ; and he would.
now ',tate that it up to the day wilier] the atitioniitii were made op, to • 2,=:.',i3,030/, In April I" lit, it aitioutited to ciiiisegitently they would take from the rei-.t the shot of 15,2551. for the present dividend. 'I'lait was a very aniolint to take from the rest, considering Ilse casual eiresim-
tottiorot that had oreorred in the of the year; and Ile mull 1'1111 the attention of 11“, Count to the filet nett Ilie rest vial+, on the 111111 of tktoher 1 ?".18, when they began to pay 7 per cent., 2,775,150g1,, while it was at present 2,,':",2,(130/. There wa,„ ticecfoeY, ail increase in the ;111101111t Of the rest, after dsdaetiog the disidasl of 7 111.1' CVO., of 77,0101. The Directors were eon-
ae(pielitly warranted in pr,' that there would be no diminution in till ;uremia of the, di, idetot or 7 per rent. for the future-
'dr. Selwyn It, know whether, ainee their last hall-yearly meeting, there had been any ili.position of that part of their properly entitled the Ucad-weight? Bank were ta;:en ;;way by Parliament, the proiwii:tors wottld li.dv,2 a direct claim fin• compensation limns the (:,),mrnotent. llr. Thompi;ott observed, that as the proprietors of Bank Steel: had been obliged to tars submit to a reduction of their dividends, it way only fair that a reditti- , funs should Ise made in the salaries of the Direetors : he moved, there- fore, that the saht,•y of the Directors be Tellico.' one-half, that of the Governor one-tried, antl that of the Deputy-Governor one-iitt h. 31r. I Selwyn said, that thirty-six years ago the salaries had been doubled ; and as the profits had diminished, it \multi be reasonable that the : Directors 01M Governors should participate in the dimintesion. M.% Young move.: as an amendment to 3Ir. Thompson's motion--i` That this Court continue to place unlimited. minlidence the Court • Directors, and return them their best thanks fits their attenti.in to the I concerns or the establishment." The words " unlimited confidence" were object d to by 3I r. Blackburn. The resolution 'was then put in I the thlItyving terms—" That this Court have full confidence in ti.e I Court of and return their thanks lie: their attention to the c:
affairs of the corporation." It was carriA by a large majority, there .•
being only er three hands held up against it. j ,mo. • • th • The Dei . n•iy-Governor stated, in :171SWer to a proprietor, that the ! "
Government had borrowed 13,000,ono/, from the Banls ; Arldch WAS r•i• • -. • paid by sums of 5S5.7401. annually, and 1.I•mtt 9,500,000/. was now
to them. The interest paid was 41. 2s, per cent. 'II,: e, , ."1.e.te
The Deputy-Governor--" None whatever."
Mr. Selwyn—"Ilits there been any agreement or new arrangement with any pl parties for the tale of any part of that property ?" ti The Deputy-Governor— " None." (" fear, hear,") 0, Mr. Svhvyn—" I would now ask if there has any alteration in the it;
system of Branch Banks? " a The Deputy-Governor—" None at all."
Mr. Selwyn—" And whether the system of Branch Banks still continues, as limner Governors have assured us, to be approved of, and it' it is profitable to the Bank?" The Deputy- G,tventor—" Decidedly." (" Hew, bear ") Sehvya—" A, tlieS2 pleStiOOS it ire beet. .t t..: to my 31II:C:tetiott, t( punt doubtless to my hrether proprietors, I beg to inure that the dividend. of ;..4. tl cent. be agreed to." (Che, rs.)
The question having been carried in the am mative, coohe c:nuplained of the reduction of the value of the properly u of the proprietors; and contended, that it' the deposit-bustms;
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