10 July 1869
Meeting of Directors
1st Resolution.
Proposed by the Chairman
Seconded by Mr. Medhurst
"That it is desirable to increase the Bank's Capital and that the necessary steps be taken forthwith in that direction".
2nd Resolution.
Proposed by the Chairman
Seconded by Hon. Mr. W. J. Gresson
"That the Chief Manager apply to H.E. the Governor to amend the Bank's Ordinance to allow of an increase of Capital from $10,000,000 to $30,000,000 and to extend the same for a further period of 21 years from the 14th August, 1909, on which date the existing period of 21 years expires".
3rd Resolution.
Proposed by the Chairman
Seconded by Mr. Raymond
"That the Bank's Capital be forthwith increased to $15,000,000 by the creation of 40,000 shares of $125 each to be issued at the price of $30 each to shareholders in the proportion of one new share to two old shares, and that the necessary steps be taken to effect this".