The following is the twenty-sixth Report of the Court of Directors of the Hongkong and Shanghai Banking Corporation, pre-tented at the ordinary half-yearly general meeting of Shareholders, advertised to be held yesterday afternoon at Hongkong Revorr.
The Directors have now to submit to you a general statement of the affaire of the Bank, and Balance Sheet for the half-year ending 29th June as The net refits for that period, including $11,234.72 brought forward from last account, after paying all charges, deducting interest aid and due, making provision for bad and mubtfal accounts, and for difference in Exchange between the rate at which the Dividend is declared and the current rate of the day, amount to $412,569.11, of which, after talking out Rebate on Bills not yet due, and Remuneration, to Directors, there remains for appropria ion $397,020.82. the payment of a Dividend of m this sum,' the Directors recommend Pound Seartig per share, which wi absorb 177,777.71.
The Directors recommend. placing $200,000 to the credit of Reserve Fund, which will then stand at $1,200,000, and carrying forward the balance, viz,, $19,243.05, to the oredit of new! Profit and Loss Account.
The Directors have to congratulate the Shareholders upon the continued prosperity ion The Court of Directors have invited Mr. W.
Young (ai the firm of Messrs. Gilman & Ca.) to a seat at the Board, which that gentleman has accepted. This election will require to be confirmed by the Shareholders.
Hononable Phiness Ryrie and Mr. Hugh The accounts have been audited by_ the
Gibb.
F. D, Sassoox, Hongkong, 12th August, 1878.
Assrascr o" Assets xp Liaptcrries, HONoxONG 4xD Buasoual Banxixe Conrozarios, 201m Juve, 1878, Prorit_axp Loss Accousr, Hoxaxoya axp Suasonat Banxive Conronariow, 2971 Juxe, 1878, then off:
Text read from the printed page and cleaned; old type leaves the occasional error.