CO129-189 - Governor Hennessy - 1880 [7-9]

TWENTY-FOURTH REPORT BY THE DIRECTORS OF THE NATIONAL BANK OF INDIA, LIMITED.

Account as at 30th June last, duly audited.

The Directors submit to the Shareholders herewith an Interim Statement and Profit and Loss Account.

The Net Profits for the half-year, after making provision for bad and doubtful debts, amount to £19,788 6 0.

Which with the balance brought forward £4,278 9 0 makes a total of £24,066 15 5.

This sum the Directors have dealt with as follows:-

£11,631 5 0 in payment of an ad interim Dividend at the rate of 5 per cent. per annum, free of income-tax.

Carrying forward £12,435 10 5.

The Directors have pleasure in stating that the business of the Bank continues to be satisfactory.

NATIONAL BANK OF INDIA, LIMITED,

LONDON, 23rd September, 1879.

By order of the Board,

ROB CAMPBELL, R. O. SAWERS,

Joint General Managers.

INTERIM STATEMENT FOR THE HALF-YEAR ENDED 30TH JUNE, 1879.

GENERAL BALANCE.

LIABILITIES £ s. d. ASSETS £ s. d. To Capital, consisting of 37,320 Shares of £25 each, with £19. 10s. paid up... 465,250 0 0 By Cash on hand and at Bankers 188,553 11 1 Less 100 Shares of £25 each, originally subscribed for, but not taken up... 1,200 0 0 By Bullion 203,002 11 2 To Reserve Fund 20,000 0 0 By Government Securities 566,665 12 3 To Amount due on Current and Fixed Deposit and other Accounts 1,854,958 19 7 By House Property, Furniture, and Stamps 50,499 15 5 To Bills Payable 1,261,731 5 6 By Bills of Exchange 958,221 14 6 To Profit and Loss Account, as under 24,066 15 5 By Loans on Government and other Securities 2,267,907 1 6 By ... 369,353 9 1 £3,625,987 0 0 £3,625,087 0 0

PROFIT AND LOSS ACCOUNT, FOR THE HALF-YEAR ENDED 30TH JUNE, 1879.

Dr. £ s. d. Cr. £ s. d. To Dividend at the rate of 4 per cent. per annum for the half-year ended 31st December, 1878 9,305 0 0 By Balance 4,278 9 0 To Balance 24,066 15 5 By Net Profits for the Half-year ended 30th June, 1879, after defraying all Current Charges, Rebates, and Interest paid and due to Constituents on Current and Fixed Deposit Accounts 19,788 6 0 £33,371 15 5 £33,371 15 5

We have compared the above Balance Sheet with the Books and Vouchers kept in London, and the Certified Returns from the Branches, and find the same in accordance therewith.

LONDON, 23rd September, 1879.

C. N. COOKE,

FRANCIS COOPER (Cooper Brothers & Co.);

Auditors.

R. O. SAWERS,

ROB CAMPBELL,

Joint General Managers.

R. H. BANNISTER,

Sub-Manager & Accountant.

R. P. HARRISON,

JOHN BORRADAILE,

R. O. CAMPBELL,

Directors.