The Press. — London, England, 1855-08-25 00:00:00

AUG. 25, 1855. limited scale, in operation for three years. It has met with signal and remarkable success ; and I am bound to affirm, and glad to have an opportunity of doing so, that, as a means of diffusing knowledge, it deserves more general notice than it has yet received. But if I get on to these subjects 1 shall be led too far—(cries of " No, no," and " Go on ")—and I conclude at once by offering you. in my father's name—he is in Scotland, but he has charged me to express his regret that he could not be present to wit. ness this sight—(cheers)-1 beg in Lord Derby's name and in my own to thank you for the compliment of this visit—(cheers)—to thank you also, though no more than expected, for the courtesy and good humour shown both to one another and to those placed to keep order among so great a multitude, and to offer to each and all of you a very hearty welcome. (Applause.) The house has been thrown open. There are persons stationed about the park and gardens who will show what is best worth seeing. You have got your hours of daylight, and I wish you a pleasant afternoon. His lordship retired amid vehement applause— three cheers being given for Lord Derby, three for the Countess of Derby, and three for Lord Stanley. The excursionists afterwards visited the famous boat-house and the other attractions of Knowsley, and returned at the appointed hour by the train to their respective localities, highly delighted with the day's pleasurable enjoyment, and with the courtesy they had experienced at the hands of the noble house of Stanley. LANCE SOCIETY. LIFE INS' REPORT OP THE DIRECTORS, JULY, 1855. In laying before the General Meeting the Annual Balance Sheet and Accounts, the Directors congratulate the mem bers of the Society upon the steady and continuous success which has attended its operations. These accounts show in detail the transactions of the Society, including all Payments and Receipts during the year end• ing the 30th of June, 1851, and the amount of new busi- ness effected during that year and the present, terminating upon the day on which this meeting is held. In the year ending ISM, Policies, to the amount of 162,1441. 13s. 7d., became claims, by reason of the deaths of the assured, and this sum (together with 33,3721.5 a. 9d. bonus thereon) was paid by the Society. Policies insuring to the amount of 28,9951. were also surrendered by the holders, and purchased by the Society for the sum of 5,2881. 38. 10d., and Policies were discontinued by assured parties to the amount of 44,1791. 9s. By these means the policies in force were decreased to the aggregate amount of 235,3191. 2s. 7d. On the other hand, 609 new Policies, insuring 313,5691. 7s. 3d., were granted at an annual premium of 10,1871. 15s. 7d., making an increase in the insurances in force of no less than 78,2501. 4s. Bd. On the large amount of Policies discontinued, the entire premiums deposited became the property of the Society. During the present year (for which the accounts are not as yet fully made up) the details, whether as regards the finances of the Society, or the mortality which has existed among its members, will not, the Directors believe, be found greatly to differ from those of the preceding year. An extensive new business has been transacted, although not to the same amount as in the former year,—a fact fully accounted for by the pressure of the war. The new Policies are 587 in number, insuring the sum of 275,1831. 10s. 2d., at an annual premium of 9,3351. Os. Id. These are, however, exclusive of annuity Policies, of which 46 have been issued, securing annual sums, immediate or contingent, to the extent of 1,6261. 18s. 11d., in considera tion of the payment of 15,5421. Os. I Id. In the preceding year the corresponding amounts were 1,6441. 13s. 5d., and 18,0061.95. 3d. During the two years, over which the present report ranges, new insurances, therefore, have been effected for the large sum of 588,752/. 17s. 5d., at an annual pre mium of 19,5221. 15s. Bd., and annuities granted for the sum of 3,2711. 12s 4d., for a considerati3n of 33,5481. 169.2 d. The present year not being one in which a bonus is to be declared, no valuation of the contingent liabilities under insurance or annuity contracts has been entered into ; but, even without such a valuation, the Board are of opinion that the accounts are such as to speak for themselves, and assure the Policyholders of the stability and prosperity of the Office. On the 30th of June last, the Policies in force were 8,510, insuring 5,402,0151. 19a. Id., for the whole duration of life (including bonuses already declared ), and 383 for short periods and upon special contracts, the total possible liability on all classes being 5,821,5671.85. 3d. This amount represents in effect an aggregate of 7,059 separate contracts, such being the number of the assured lives, of which many, being contingent only, can never become claims ; and the residue will become payable during an extended period, commencing with the present time, and reaching beyond the limits of the nineteenth century. On the other hand, the accumulated capital is no less than 2,195,2711. 7s. 11d., and, in addition, the Society possesses an income arising from premiums, interest, and dividends on monies in the public funds of 237,4041. It must be obvious to any man of business inspecting these figures (although not possess. ing the technical skill of an actuary), that they not only guarantee the security of the concern, but present a con siderable margin of profit to parties holding Policies for the whole duration of life, the only class entitled to share in such profit. In making this Report, the Board are desirous to im press upon the members, that in a purely Mutual Insu rance Office, like the Norwich Union, the interest of every insurer is directly dependent upon its general prosperity, and that it is to the efforts of their coinsurers that they, the Directors, look for support and assistance. Unaided by the general body, the most careful management and energetic agency can be only partially successful. In a proprietary company it is usually compulsory upon the NORWICH UNTO: THE PRESS. Shareholders to maintain the business of the Office, but for this the insured pays heavily in the periodical divisions of profits. In a Mutual Office the Policyholders are themselves the Shareholders, and, receiving the entire profits, should, as a natural consequence, exert each his individual interest for the benefit of all. In the present case, the insurers may safely recommend this their own company, and, as an additional motive for exertion, the Directors would remind the members that all persons in suring before the 30th of June, 18.56, will participate in the division of the following year, and, in every successive division, benefit to the extent of one year's appropriation over those who may effect insurances subsequent to that date. ROBERT JOHN HARVEY, President. Chief Offices, Surrey-street, Norwich; and 6, Crescent, New Bridge-street, lilackfriars, London. Vontg tarktt and Qtit FRIDAY EVENING. THE English Stock Market has evinced much firm ness during the week, the quotations being well maintained, although in the absence of any activity among the dealers. Operations continuo languid and infrequent, but the prevalence of fine weather, accompanied by favorable reports of the harvest at home and abroad, and resulting in a marked decline in the price of corn, has given buoyancy to the market, and inspired the capitalist public with confidence. Speculation also seems reviving, though at present not in the direction of British Stocks, the attention of monetary men being attracted towards new commercial schemes or investments in foreign loans, of which Turkish is just now in chief favour. English Stock has been scarce for some days past. a circumstance which has materially contributed to the steadiness of the market. The daily quotations of Consols have been, Satur• day, 911 ; Monday, 911 ; Tuesday, 911 1 ; Wednesday, 911 ; Thursday, 911 I. To-day, Con sols have continued at 911 1; Reduced have been dealt in at 911 921; New Three per Cents. at 921 f. Bank Stock has improved to 2151 216 for money, and 215 for account. Exchequer Bills, 13s. to 16s. prem. The payment of the fifth instalment on the 16,000,0001. loan on Tuesday caused a brisk demand for money, but, as a large proportion of the amount had been previously paid up, the effect on the market was much diminished, and proved only tem porary in character. 6HARES. The Share Market has been quiet, presenting scarcely any variation in prices, and the business transactions being of very limited amount. The last railway traffic returns show a consider able decline on most of the principal lines, as com pared with the corresponding week's receipts last year. The North-Eastern, North-Western, Great Northern, Great Western, and South-Eastern, still keep up favorably. Some of the Irish lines are higher. The Bank of London on Wednesday opened their establishment at the Hall of Commerce in Thread needlastreet for business, and also their West-end branch. The commencement of their operations has been exceedingly satisfactory, and gives promise of future prosperity. Many accounts have been opened, and large sums paid in. The officers chosen to fulfil the duties of the bank are selected with care for their efficiency, whilst the building hitherto known as the Hall (if Commerce is most commodious, and admirably situated for a first-rate banking establishment. FOREIGN. The biddings for the new Turkish Six per Cent. loan took place on Monday. There were only two offers made, by Messrs. Rothschild, and by Meshes. Palmer, Makillop, and Dent. The former firm ten dered for the loan at 1021. 12s. ad. per cent., and were accepted, the rival offer being only 1001. 11s. The scrip in the loan has since been speculatively dealt in at from Ito 3 prem. This a:ternoon the quotations were 2; to 2; prem. The Six per Cent. Turkish Bonds have been somewhat lower since Wednesday, and were done at 931 to day The scrip of the new French loan, is quoted at 2i I prem. BRITISH FUNDS. Closing Prices. OFFICIAL QUOTATION. Mond. Tuts& Wed. Thurs. Friday. 8 per Cent. Consols 914 91i 914 I 91i 91 1 Ditto for Account $ per Conte Reduced 3 per Cente Long Annuities Hank Stock, 7 per Cent — 2144 2151 2151 5 Omnium 44 Exch. Bills, 2d. per diem 16 13 6 16 3 India Bonds, (1,0001.) 29 30 26 29 30 BANK OF ENGLAND. An Account, pursuant to the Act 7th and Rth Victoria, capAS for the week euding on Saturday, the 18th day of Ang.,1855. ISSUE DEPARTMENT. Noteslssued .... 129,506,690 Government Debt 111,015,100 Other Securities .. 2,984,900 Gold Coin* Bullion 115,50G,1190 Silver Bullion ~.. 828,506,690 L 29,5416,690 817 WILING DIPARTIIIIIT. Proprietore'Capitala4,sll9,ooo Government Seou- Rest Public Deposits• 6,107,739 Dead Weight An.) A . 111,810.194 Other Deposits even Day & othei Notes 9,229,550 Bins 937,593,008 37,593,008 • Including Exchequer, Savings Ranks, Commissioners of National Debt, and Dividend Accounts. FOREIGN FUNDS. Per Cent. Mom/ Tuesd. Wed. Thurs. Frith'''. Brazilian b -- -- -- 1011' 103 Danish Dtoh. (Fx 12 Guil )21 62 —65 / 641 611 Frenoh 8 f c 67!25c ( c 66140 c Do. 41 ! c 915 f 13c ( e 94f :"Uc Do. Bank Stook —C. 1. 1. —f, Mexican 8 Peruvian 44 -- 821 i -- 82 Portuguese 4 Russian fr 101 Spanish 3 37j Turkish (Acc.) 6 254 41 PS 41 4i 4 943 4 931 RAILWAYS— Aberdeen Birm.Wolv.&l3tour Val Bristol and Exeter Caledonian Chester and Holynead Cork and Bandon Dublin & Belfast Junc. East Anglian Eastern Unior.(l3) East Lancashire Eastern Counties Great Northern Gt. Sth. and Wet of Ire Great Western Lancashire& Yorkshire Lon., Tilbury, &Stheud Lon., Brighton, Jtc Loudon and Blaokwall London and Nrth-West. Midland Newmarket Newry and Enniskillen Norfolk Nrthrn. Counties Union !WARNS. Novi. 64 6 8 j 3 W.d. :IA 6 91 63e 11 . 1 , OA That. 25 7 a 91 3 1 63 94. North Ariush North Staffordshire North• Western Oxf., Wriastr., and Wolv Scottish Central Scottish Midland South Devon South• Eastern and Dov South• Western South Wales Waterford rt Limerick MISCELLANEOUS— Canada Crystal l'alace Crystal Palace otFran ce North British Aus. Laud Peel River Land & Mio. Scottish Aust. 1 nvest. South Australian Land van Diemen's Land .. 1 21 36 12 l man farlats. ( Reported e xastsively for "Tux Passe.") CORN-EXCHANGE The receipts of English wheat up to our market this weak-have been very limited; nevertheless, all kinds have met • dull inquiry, and the quotations have fallen ftilly 2s pet quarter. Several samples of new, in fair average audition, have appeared on sale. The finest red has realised 74e, the finest white (albs per bushel) 76r, per quarter. Foreign wheat—the imports of which have been trifling—has ruled heavy, and prices have been nominally unaltered. lit floating cargoes scarcely any business has been transacted. On Friday, owing to an increased demand for Spanish flour on French account, about 1,500 sacks having been taken at from 56s to Ms per sack, the wheat trade ruled brisk, at an advance of 2s per quarter; this improvement applies more particularly to English. Barley has come slowly to hand, and the trade has been heavy, at is per quarter less money for grinding qualities. There has Ws more firmness in the malt trade, but no advance can be nottad in prices. Owing to the large imports from abroad, the Oil trade has been heavy, at 6d to is per quarter decline. Beal and peas have changed hands slowly. Some samples of the latter have realised 405 to 40. per quarter. The flour trade has been far from active; but some few parcels of Spanish flour have sold for shipment to the Continent at an exi tance of from 11 to gs per sack. NOLISH-WhiSt, Essex and Kent white, 704 to 6011; red. Via b 74s ; Norfolk and Lincoln red, 64s to 755. Malting barley, 516 le 34s ; grindinit ditto, 28s to 81s; distilling, 80e to 82e. Mitt. to 725. Feed oats, 24s to 38s; potato, 17s to as. Rya, to 435. Tick beans, 39s to 435; pigeon, 41s to 455. Grey Oils, 36s to #1; maple, 89s to 41s; white boilers, 40e to 46s perquarter. Town-made flour, ells to 70s; country marks, Dos to as per 284716. ARRIVAL! THIS WEEK. What. Barley. Malt. Oat.. none. E nglish 830 .. 20 .. 1010 .. 10 .. 1070 Irish Foreign .. 1230 .. 4410 .. 2960 ski. bla. LONDON AVERAGES DECLARED ON FRIDAY—Wheat, 3,653 quarters, 77e Sd ; barley, 98 quarters, 33s 24; oats. 3,556 quarters, 25s 7d ; rye, 18 quarters, 31s 3d ; beans, fa quarters, as 74; peas, 68 quarters, 43. 6d. IMPERIAL WEEKLY AVERAGES—Wheat, 75s 9d; bar- ley, as 2d; oats, 29. Id ; rye, as ad ; beans, 46s 6d; peas, 48s 7d. THE SIX WEEKS' AVERAGES—wbeat, 76. Ild; barley, as gd; oats, 26s 104; rye, as lid ; beans, 46s 6d ; peas, Us 10d. ENGLISH GRAIN BOLD LAST WEF.K— Wheat,75.681; barley, 6,010; ,oats, 8,123; rye, 241; bean', 2,300; peas, 183 quarters. BREAD—The prices of wheaten bread in the metropolis are from 10d to 10Id ; of household, ditto, 64d to 944 per albs loaf. TEA—There has been a steady, but by no means active, demand for most kinds, at full prices. Congou It selling at from Bid to 2s 64; /sing _Yong and, Oolong, 104 to L >i•; SQUCII9IIII, 9d to 2m 84; FloWel7 Pet" 16 id to 81 04; ipsv • • ' 4 igtolft • 12 34. d 1U 31 21.:1 14 6 73 but 111 j 69 94 63 $, 1 89 ii 100 b 34 83 98 100 I 71 ixd . 61 711 1 i 4 2i . SU 2 29 SI 761 :1 Oe • 26 18i 41 , 82 101 xo 122 - 4' 91 $ €11321 3! 1 5 i 2ai '17. - 6 i 2b 7 62 3 35 6 31 2 24 4 Md. 35 i 8 91 1 6 1 3 i 8 10 S 2d 14 3 73 I usl 9i 100 7 66i 1 85 97 9 7i 9t 71 1 11 S 1 t 60 d 20 31 27 107 9 131 it 1i r, 61 3 85 6 31 2 21 3 1 244 94 4 2 1 I . 1i i. B'lo S 28 14 b :3 51 1.1 I 98 ID 71 fx( 9bj x( 71 i S 1 2 22 4 1133 I