The Press. — London, England, 1855-12-01 00:00:00

1154 'WATERLOO LIFE ASSURANCE 1111 COMPANY. (Incorporatod by Act of Parliament.) Capital, 440(1,000. HEAD OFFICE, 353, STRAND, LONDON. Branch Offices in most of the importakt Towns iu England. DIRECTORS. CHAIRMAN—JOSEPH BISHOP, Esq., 6, Crescent, Minories Wm. /ismJammu, Esq., 4, Hare-court, Temple MAJOR ROBERT Ekus, Victoria road, Kensington GEORGE MITCHELL, Esq., 34, ThoriMill.square, Islington HENRY SMITH, Esq., 8, Bertholornow-laue, City AUDITORS. JAMES ANDREW DURHAM, Esq. I HENRY NICHOLS, Esq. THOMAS PAUL, Esq. CONSULTING ACTUARY—EDWARD BAYLIS, Esq. MEDICAL OFFICERS. JOHN THOMSON, M.D., F.L.S. CrEOIHIE BERMINGHAM, Esq., F.R.C.S. SOLICITORS. Messrs. BENNETr and PAUL. BANKERS. Messrs. SMITH, PAYNE, and SMITHS. MANAGER AND SECRETARY. THOMAS GEORGE WILLIAMS, Jun., Esq. LOCAL BOARD OF DIRECTORS FOR LIVERPOOL. CHAIRMAN—HILTON HALHEAD, Esq. ROBERT BICKERSTETH, Esq., MATTHEW GREOSON, ESQ. F.R.C.B. WM. Jos. HOESFALL, Esq. JAMES BLAND, Esq. JAMES LORD, Esq. AU Policies indisputable. The benefit of mutual assurance without its liability. This Office will be found highly eligible for every description of Life Assurance. Assurances granted against casualties from whatever cause arising. Annuities granted. Family Endowments. Rates of Premium moderate. A liberal Commission allowed to Agents. Forms of Proposal and every information on application to the Manager. WATERLOO LIFE A SSURANCE COMPANY. REPORT OF THE DIRECTORS, Presented at the General Meeting of Proprietors, held at the Offices, on Thursday, the 15th of November, 1855 : It is with renewed pleasure the Directors of the Waterloo Life Assurance Company appear before the Shareholders upon this the Fourth Annual Meeting, for the purpose of laying before them a statement of the progress of the Company during the year which has now closed. The Directors have, in common with all promoters of com mercial undertakings, and with those whose anxious thoughts are turned towards the social progress of their fellow-men, to regret the large amount of attention which the all-absorbing events of the War have attracted towards themselves. This, and the depression occasioned by increased taxation and the great Rnarcity of money, have tended materially to retard the progress of Life Assurance during the pastftwelve mouths. Yet the con uLued prosperity of the Company admits of no doubt, and is a cause of sincere congratulation ;—the large number added to the list of Assurers is a sufficient indication that the " Waterloo" retains its hold upon the public attention and respect, and is an earnest that, with returning peace, a very considerable augmen tation of the number of those associated with us must follow, and the results of our active and intelligent Agencies become even more apparent. Your Directors have, since the issue of their last annual report, greatly increased the range of their operations by means of public meetings held in Doncaster. Wakefield, Barnsley, Kendal, and other influential and populous towns. This is a plan which has been more fully developed by the " Waterloo," and has hitherto drawn towards it, and the principles of Life Assu rance, a large amount of attention, and been found • most effi cient support to the Local Agencies established in the districts visited. New and important Agencies have also been appointed in other parts of the country, in addition to those previously an nounced in the Reports. Added to the efforts your Directors have made to extend the business of the Company in various parts of this country, by the means to which they have alluded. they now contemplate transactions in the principal cities of Europe, and have already made arrangements whereby the Company will be fittingly represented in Berlin, Hamburgh, Frankfort, and the northern parts of Germany ; and they assure you that the greatest care will be taken in the establishment of these agencies, which have been delayed until the "Waterloo " had acquired a position to command an interest and attention which its progress and principles justly warrant us in regarding as its due. Nor have your Directors overlooked the important milonial dependencies of Great Britain, the operations of the Company extending to Sydney,Melbourne, Hobart -town, and the Cape, with every prospect of their anticipations of success being fully realised. your Directors would now draw attention to the proceedings of the past year; and, in order that the amount of business may at once become apparent, they annex the following tabular state ment, viz.:— repels. made to the Com-1 pony during the year .. Sum Aseurd. £151,0150 An. Inane. £5,138 'Policies issued Proposals accepted but not yet completed I Proposals declined Proposals under consider ation 104,7;i0 20,800 14,750 10,760 TOTAL 0161,060 3,468 891 497 From this it appears that Four Hundred and Five Policies have been hustled since the last Meeting, producing an Annual Income of Three Thousand Four Hundred and Fifty-eight Pounds; and that the average amount assured under each Po licy is Two Hundred and Fifty-eight Pounds. By the Report last submitted, it was shown that the amount of business done by the Company up to that date was as follows, viL :- No. Annual Income. Number of Policies issued I,QUI producing 411,400 To which add the business of the present year .... 405 3,458 1496 £14,858 And the result is that, notwithstanding the Agencies have been limited to this country, in less than four years there have been Issued 1,496 Policies, producing in the aggregate £14,858 per annum. L should be particularly noticed in the statement here sub- Alitted, that an unusually large proportion of the proposals accepted have not as yet been taken up. This, while it strongly indicates the pressure of the times, proves that but for the ina bility to meet the required pay meut the income of the "Waterloo" would have been materially increased, and its number of com pleted Policies greatly enlarged. Six Policies have lapsed by death in the course of the year, assuring £1,200, which is very far below the number and amount calculated upon. The following table exhibits the total claims, as they have arisen in each year, up to the 30th Sep tember last:— DATE. First Year.... Second Year.. Third Year .. Fourth Year.. I Number of Lives Assured. Number Amount of Paid. D eatha. 2 2600 21,200 8 El,B _O 203 603 1,091 1,496 The Directors avail themselves of this opportunity to draw the attention of the Shareholders to a very important advantage offered to Assurers in this Company, which provides that, after seven annual payments on a whole term of Life Policy, they can at any time, should they desire or be compelled to relinquish future payments, receive a Paid-up Policy for an equitable sum, thereby securing an absolute reversion. The same care and economy which have hitherto characterised the working of the Company have been observed during the past year, and is shown in the statement of accounts duly audited, in accordance with the Deed of Constitution, and now laid be fore you, and presented as part of this Report. In pursuance of the provisions of the Deed of Settlement, Joseph Bishop, Esq., and W. Beresford, Esq., are the retiring Directors, and, being eligible, the Board of Directors recommend their names to constitute the list for re-election upon this occasion. The Auditors likewise retiring are James Andrew Durham, Esq., and Henry Nichols, Esq., who offer themselves, and are also recommenaed, for re-election. Your Directors advise that, for the present, the dividend be not increased beyond the former rate of six per cent. (free of income tax), and a dividend of six per cent. is hereby declared accordingly. From this Report it will be seen, that with the difficulties of the past year pressing in every direction upon our efforts, those efforts have yet materially availed us, and our success has be come enlarged and consolidated. The position of the "Waterloo" is fully and firmly established; its more immediate and ex tended prosperity must depend upon exertions which your Di rectors cannot absolutely control, but which they will atoll times urge the Shareholders, the Assured, and the various Agents to put forth. It should be a matter of pride with each to place the " Waterloo" second to no office in its sphere of usefulness and the extent of its operations. There is ample scope for the most devoted exertion. The cause is a great one, tending to ameliorate the condition of thousands, whom inattention to the provident principles of Life Assurance would consign to dependence or poverty ; and it should be borne in mind that every addition to the number of the assured can cnly be regarded as an augmen tation of the sum of human happiness. In conclusion, your Directors would most earnestly invite the hearty co-operation of the large body comprising the Share holders and Assurers of the " Waterloo," as they feel that the power exerted by individuals personally interested in the pro gress of the Company to which they have attached themselves is the most efficient agency on which they can rely for working out the design contemplated in its establishment. Every Share holder ought to regard the prosperity of the " Waterloo ' as de• pendent upon his own personal influence and exertion, and a constant subject of his attention. As the time approaches when the first declaration of profits will he made, and the first bonus placed to the credit of the Shareholder and the Assured, it be comes a matter of deeper interest to all that the connections of the " Waterloo" should be more widely extended, and its busi ness transactions multiplied; personal consideration being here so bound up with the general success of the corporation as to make every effort on behalf of the Company conduce to indi vidual profit and private advantage. Your Directors, while thus urging the claims of the Company upon the attention of those whose prosperity must form a part of its success, cannot but express their conviction that, notwith standing what has already been achieved, they are but at the commencement of the great work contemplated in the formation of this Company. With their more extended plans, scarcely yet matured, they regard the present only as a new starting point, from which their progress will be one of greater and more striking success than any which have yet attendee their efforts. With thin conviction they ask for that strength which the co operation of numbers can give them, to realise for the " Water loo " a just claim upon public attention, and to effect that more thorough development of the principles of Life Assurance, which will become apparent when the appropriation of a portion of its profits is applied to works of general utility and beneficence; and the union of pecuniary advantage with the secure founda tion of designs of a strictly philanthropic and educational cha racter is shown to be consistent, and the most certain mode of arousing that sympathy and attention which the important pur poses of Life Assurance pre-eminently merit. JOSEPH BISHOP, Chairman. - - - • IN .4 7... .... I 4 .' 7 4. ...• ... d ° -2 4 0 ° Amount -..:go.nd 01g r 1 a . 0 p.. a ~, Name of Bank. 1 v x - , c g ti . of 3r, s 2 ` g Cil 14) l'U Deposits ;5-4. -:F.: 4 - 11 . 5Et ... 4 4A t. 4 4: p.,'-.0 .e IN CD •--- ....."-- - --.--- ••••--- --- - 49 S i LnAWstranstr 1854 20 49 145) ti 8,166,553 134,526 16 Lon.Joint•stek. 1936 10 34 24 0 1 4, 6,134,238 158,3 7 3:284 4.,, Un.Bk.of Loud. 1899 10 31 210 l. c i . 8,363,460 120,000 20 ~,V Lou. A County 1339 20 41 105 I ,y) 4,012.223 1 0 9, 71 9,12 T., Com. B. of Lou. 1840 20 81 5 5 ) "" 1,317,554 66,109.10 Roy. Brit. Bank 1949 150 SO par 951,658 13 . 794 1 .. 6 "" Total .... 413 if9161159e,521 THE PRESS. DR. DE JONG}I'S LIGHT BROWN COD LIVER OIL. Prescribed with complete confidence by the Faculty for its purity, ellicau, and marked superiority over all other kinds. Tt is entirely free from nauseous flavour, and being invariably and carefully submitted to chemical analysis—AND ONLY SUP• PLIED IN SEALED BOTTLES TO PRECLUDE SUBSEQUENT ADMIX, TORE OR ADULTERATION—this Oil possesses a guarantee of genuineness and purity offered by no other Cod Liver Oil. Extract from " THE LANCET," July 29,1854. ,-- - - " Dr. de Jonah gives the preference to the Light Brown Oil over the Pale Oil, which contains scarcely any volatile fatty acid, a smaller quantity of iodine, phosphoric acid, and the elements of bile, and upon which ingredients the efficacy of Cod Liver 011 no doubt partly depends. Some of the deficiencies of the Pale Oil are attributable to the method of its preparation, and espe cially to its filtration through charcoal. IN THE PREFER. ENCE OF THE LIGHT BROWN OVER THE PALE OIL WE FULLY CONCUR. "We have carefully tested a specimen of the Light Brown Cod Liver Oil prepared fur medical use under the direction of Dr. de Jongh, and obtained from the Wholesale agents, Messrs. AMUR, HARFORD, and Co., 77, Strand. We tiud it to be genuine, and rich in iodine and the elements of bile." Sold ONLY In bottles, capsuled and labelled with Dr. de Jongh's Signature.wymouT wn tot NONE ARE GENUINE byATSAR,HAR• FORD, and CO., 77, STRAND, London, Dr. de Jotigh't sole Con. signees ; and by many respectable Chemists in town and country. Half-pints (10 ounces), 26. 6d. ; Pints (20 ounces),Ss. 9d. ; Quarts (40 Ounces), 9c IMPERIAL MEASUREI Thus it will be seen that the amount of deposits is 29,545.6811. and the reserved funds 596,5211.—that the shares bear a premium in relation to capital, from 55 to 225 per cent., and that the divi dends range from 6 per cent. to 204 per cent. per annum. The City Bank and the Bank of London, which have been established only a few months, also give promise of equal success, their deposits—by their published returns—being already 29 I. ,3921. and 431,0101. respectively, and their shares already bear a con siderable premium. it is therefore obvious that Joint-stock Banks present a most eligible source for investment. This Bank will be conducted upon the principles which have conduced to the eminent success of the above Joint-stock Banks, and it is intended also to open a branch at the West•end. Interest will be allowed on current accounts as well as on deposits, in proportion to the value of money in the market. The Bank will undertake the agency of country banks, whether joint-stock or private. It will receive, free of charge, annuities or dividends, and the pay of military, naval, and civil officers ; and it will undertake the purchase, sale, and transfer of stock iu the public fUnds,ac. It will likewise undertake the negotiation of foreign bills of exchange on the most favourable terms. SATURDAY, THE LONDON AND PARIS JOINT-STOCK BANK. Commencing Capital 600,0001., in 6,000 Shares of 1001. each. Deposit 101. per share, and 401. to be paid upon the Charter of Incorporation being obtained, pursuant to 7 and 8 Victoria, cap, 113. Established for the purpose of extending the principles of joint-stock banking in the metropolis, and for introducing the system on the Continent. COURT OF DIRECTORS. Governor—GEOßGE ALEXANDER HAMILTON, Esq., MX, HERMANN Cox, Esq. (Hermann Cox and Co.), Mark-lane JOHN H. DILLON, EMI., Albany GEORGE CHRISTOPHER GRAVES, Esq. (PhiHipps, Graves, and PhiHipps), Rood-lane JOHN GILCHRIST, Esq. (Gilchrist, Watt, and Co.), Porchester terrace. Hyde•park EDWIN WARD JACKSON, Esq., Craven-hill-gardens, Hyde-park THOMAS SHEPPERSON, Esq., Dulwich-hill HARRISON WATSON, Esq. (J. R. Thomson and Co.), St. Peter's _ . . chambers, Cornbill _ ALEXANDER WEBBER, Esq. (Alexander Webber and Co.), Mark lane JOHN WILLSON, Esq., Southwark and Dulwich JOHN YOUNG, Esq. (Young, Dlx, and Co). Watling-street, and (John Young and Co.) Royal Exchange-buildings (With power to add to their number.) Bankers in England The Bank of England; the Union Bank of London, 2, Princes-street, Mansion-house Brokers—Messrs. PHILIP CAZENOYE and Co., 99, Lothbury Standing Counsel—Sir FITZROY KELLY, M.P. Solicitors—Messrs. ASHURST, SON, and MORRIS, 6, Old Jewry, General Manager—JAMES WRIGHT, Esq. Secretary—ALßEßT DUMMER, Esq. Bankers in Pans—The Bank of France Standing CouNsel in France— M. liussoa. Avocat i la Cour Im perials, Depute an Corps Leglelatif, 40, Rue Mont Tbabor, Paris I.lotaire—M. MOCQUARD, 5, Rue de la Pala Avou6 de Premiere Instance—M. RasErri, 2, Rue de la Michaudiere Offices, 4, PRINCES-STREET, MANSION•HOUSE This Bank is formed for the purpose of affording banking facilities to meet the requirements of the increased and increa sing monetary operations of the metropolis. The following table exhibits the progress and present condi tion of the Joint-stock Banks in London:— CONTINENTAL DEPARTMENT. But, however encouraging may be the prospects of an addi tional Joint-stock Bank for the transaction of London business, the Directors desire to state that one or the prominent features of their undertaking is to extend the English system of joint stock banking to the Continent, and to establish a Branch Bank or Agency in Paris, to ba conducted by competent persons, specially empowered by the London Directors. These gentlemen will act under the supervision of a Conseil tie Surveillance, con sisting of persons of high position and of great financial experi ence in France. The administrators of the Paris branch, so soon as it is es tablished, will apply in the usual manner to open an account with the Bank of France. Inquiries have been made by well-qualified 'persons as to the present mode of conducting monetary traneactions in France, and as to the practicability and expediency of intro,,ucing on the Continent what may be considered there a ne ft system of banking, namely, the receiving of deposits, the discounting of bills. and the other legitimate operations of a bank of deposit in England, by a joint-stock company, chartered under the act of 1d44. con- ducted by a Court of Directors iu Loudon, with a branch at Paris, and having applied to its management the most approved prin ciples of English banking. The result of these inquiries has been most satisfactory and most encouraging. A Deputation of the Directors have had communications with the Minister of the Interior in Paris, and they have the Batista°. tion to state that there exists not only no objection, on political, commercial, or legal grounds to such an Institution, but that it will meet with countenance and support. Paris being the great centre through which the continental exchanges and the monetary operations between France and England are transacted, the establishment of an International Bank, such as the London and Purls Joint-stock Bank, is a matter of manifest expediency and necessity, and will contribute to cement the alliance so happily existing, by multiplying the bonds of common interest. Its convenience as a Bank of Deposit, and the security it will afford to the numerous and influential British and American residents in, and visitors to, Paris, form an additional couside• ration of no inconsidtrable importance. The returns of the Board of Trade show the vast extent and annual increase of the commercial transactions between Great Britain and France. As regards the port of London alone, it appears by the last returns, published March, ;855, No. 2s, that, in the year 1853-4,, the tonnage of vessels entered in the port of London with car goes from France was no less than 176.89 a tons, and that the tonnage of vessels with cargoes cleared from tho port of London for France waa 142,798 tone. This amount of tonnage is larger