The Daily Times.
Liverpool, Merseyside, England, 1860-08-11 00:00:00

KILTED COMPANY OF VOLUNTEERS.

THE ROYAL INSURANCE COMPANY.

ANNUAL MEETING.

The annual meeting of the Royal Insurance Company
was held yesterday, at the Company's offices, North
John-street, the chair being occupied by Mr. Charles
Turner. There was a large attendance of shareholders,
and among those present were T. D. Anderson, Esq.
(Mayor), Messrs. Dover, Brocklebank, Torr, Corbally,
Titherington, Cooper, Mozley, Bouch, Livingstone,
Johnstone, &c., &c.

The notice calling the meeting having been read, the
Secretary read the report, the actuary's report on the
life business, and the statement of accounts. The fol-
lowing is a copy of the report:—
"REPORT FOR THE YEAR 1859.

" The directors of the Royal Insurance Company
cannot take under review the topics which are to be
included in the present report to the shareholders with-
out arriving, at the outset, at the conviction that on no
occasion have the subjects to be laid before the proprie-
tors been of more importance than those which are to
be submitted now ; and they would add that, on one
point more particularly, viz., the prospects of the life
business, they look for a arger development of an
extended area for the operations of the company, as a
result of the present meeting, than of any previous one
which has been held. _ _ .

" Among the events to be now recorded will be
included details of an unexpected amount of success in
a year which at one time bore a somewhat unpromising
aspect—a statement of the progress of the company
through a period of six months of the current year with
even less appearance of profit than the last—and the
particulars of an investigation into the liabilities of the
life accounts of the company of a far more extensive
character than is at all usual, terminating in the pro-
duction of results so favourable as to afford the highest
ground of expectation that this branch of the business
will speedily be placed in a position in which the com-
pany will have few compeers.
" Taking, then, the entire of the past year, and the
lapsed six months of the present one, it may safely be
affirmed that together they form a period which has been
generally adverse to the interests of fire insurance
establishments. Estimates which have been made
show some classes of risk in which the losses sustained
by the insurance offices of this country must very. far
have exceeded the total accumulated premiums received
thereon. This unfavourable experience has not been
confined to this country, but bas extended more or less
to the colonies and to foreign lauds. It would be vain
to speculate on the causes of these cycles, marked by
deviations from the ordinary results which have been
looked for. Sufficient, to state that the one now
announced, though clearly distinguished by its discou-
raging features, has not been SQ prominently calamitous
as some others which have occurred before this company
was established. It is, moreover, satisfactory to annognce
that as respects the Royal Insurance Company, in its
own isolated experience of the year, the effects of the
extensive and numerous fires which have taken place
through so wide a field as has been described, have been
rendered all bur inoperative through the countervailing
action of its usual success in the increase made to its
reverate.

ff FIRE nua.iston•
"The directors will now proceed more particularly tq
dwell on the results of the fire business
" It is undoubtedly true that the losses of this bianch
have been very large, amounting in the British and
Foreign Department to the sum of £77,641 3s. 10d., and
on the American Department to £60,382 19s. 4d. ; but,
on the other hand, the exertions made to increase the
magnitude of the company's business have been
successful beyond any point aimed at or deemed, attain-
able. The facts now to be stated will prove the correct-
ness of these assertions. Notwithstanding the large
accessions of business made annually through a long
series of years, which obviously increase the difficulty
of further advances, yet the tire premiums of the year
1859 rise above those of the preceding year by a larger
sum than has been obtained by 'the increase or any
single year since the formation of the company, except-
ing the year 1853, when we first added the American
branch to its business. To this circumstance, in a great
measure, must be attributed the gratifying announce-
ment that, contrary to any reasonable expectation which
could have been entertained, the accounts of the year
show a profit of £42,488 3s. 4d. •
" The present year, so far as it has passed, has brought
with it an experience anything but cheering to the insu-
rance institutions of the kingdom. An estimate, how-
ever, made of the Witless of .the 'oyal Insurance Com-
pany for the half year, so far from producing any loss
on the business, exhibits a profit, although certainly not
a large One; and thus it has had the advantage of
better fortune than many of its contemporaries. As,
however, the comparative smallness of the sum exhibits
a deviation from the usual success of the company, it
cannot fail at least to lessen somewhat in the minds of
the shareholders the probability of any marked favour-
able balance when the year is completed. The directors
have, however, so repeatedly adverted to the possible
occurrence of single years without profit, if not of abso-
lute loss from the transactions of the period, that it is
only necessary now to indicate the result which the past
six months so far presents; which, while it offers no
cause for despondency, cannot fail to plape a check on
the indulgence of any expectations more supine or
unreasonable than the present aspect of the mounts
would justify.
" But it is desirable to refer briefly as usual to the
business in its separate details.
"The local branches established throughout the United
Kingdom and in Ireland progress most favourably. The
Lon.flori establishment increases still more in its magni-
tude and importance,_ although it has added its full
quota to the amount of losses'referred to. The Scottish,
Irish, and Manchester branches have lost none of the
vigour and success which have hitherto marked their
career.

" Since the last anniversary meeting a very important
branch has been established at Bristol, under the local
management of Major Savile, where gentlemen of the
first business eminence hare given they names in the
formation of a local board of refereuee. Already the
energetic action of the local 'manager, backed by this
powerful influence, gives promise of the happiest results,
and encourages the hope that the company will speedily
reap a very large revenue from this West of England
and South Wales Branch. The many large. and impor-
tant towns in this district afford an extensive field for
fire and life assurance business, and the name of the
'Royal ' is beginning to be known throughout that
part of the kingdom as a company of the highest posi-
tion and character.

. . ,
ABFERICAN BRANCH.
" Considering the heavy This sustained by the great
fire in Halifax, it will hardly have been expected by the
proprietors that the rapid extension of our business con-
nection in the United States and in Canada, and the
growing estimation of the company among the citizens
of the West, should have so enlarged our revenue as to
leave a profit, though not a large one, on that account.
Taking, however, into consideration with the present
announcement on this subject, the unusual magnitude
of the profit on this branch for the year 1858, and that
the present year exhibits likewise an amount to the
credit of the account, it is not too much to say that the
American Branch has answered the fullest expectations
entertained of its sncceis.
" It should not be omitted to be noticed that this
success is obtained in the face of an unwise and notienes.
sary reduction of premium in Canada. However, it is
hoped that a sounder and more discreet policy may pre-
vail in future, and that the insurer, being properly
protected from any undue rate of charge, a per-tentage
of premium may be fixed which will give a reasonable
remuneration equivalent to the protection and security
which offices of high standing can offer.
" It is 'desirable that the proprietors and the insurer
should have in a tabUlar farm the ligiireS
the progress of the whole fire branch. The following
will serve the purpose, running over the laslnc ern t t yearse .
eas
Total premium of the year above
Received, each preceding one.
1850 .... £44,027 10 0 • • £9,557 19 8
1851 ... 52,673 611 .... 8,645 15 11
1852 76,925 4 2 .... 24,251 18 3
1853 .... 112,564 4 4 .... 3.5,639 0 2
1854 . . 128,459 11 4 .... 15,895 7 0
1856 .... 130,060 11 11 1,601 0 7
1856 .... 151,733 9G .... 21,672 1/ 7
1857 .... 175,049 4 8 • 23,315 15 2
3 32,166 4 9
1858 .... 196,148 2 6 .... 21,098 17 10
1859 .... 228,314 7

sosatfa w
ce-
is
We learn with great satisfaction that the new com-
Panallnyounocef d twe dd a
yVs o lsui nn tceee, riss progressing whose
formation
,
a f
torily, and that it numbers among its ranks not only
young men from the desk and behind
includes also a considerable portionpf the m. ore respec-
table of the working classes, whq Kaye hitherto been
excluded in a great measure from the selfTsupporting
corps, by the too high sums charged for entrance and
the annual subscription, the early hours fixed for
drill, and the unnecessarily high cost of the uniform.
These objections have very wisely been obviated by
the spirited projectors of the new corps; and as the
election of officers will rest entirely with the members,
and all business will be settled by a committee, popularly
appointed for the purpose, there will be none of that
discontent 10:44, we cannot deny, 4,0 04%1 among
the other corps in the town,
We would therefore have every Highlander, every
Scotchman, and all who admire the picturesque
garb of old Gaul, to bear in mind that their
Highland forefathers, when united, as at Killiecrankie,
at PrPstOnpans, and many other hard-fought
field, were triumphantly yictorions ; and if they will
only be united now,---if they will only sink tileiT petty
differences, and do as their fathers have so often done
on the field of battle,—stand resolutely, " shoulder to
shoulder," we will yet see in the "good old town" a
band of volunteers in their tartan array, proud and sol-
dier-like in their bearing, worthy representatives of
those Highland heroes who have never failed to cover
themselves with glory in every battle-field where Bri-
tish might has had to be sustained.

Our readers have only to send the.
aaltpitation, stomach,c
_ .
Esq.. 77, Regent-street, lir,, 7,, ,ir address to D. T. harrY,.
refreshing sleep. to
the al of indigestio (dys-
pepsia), and free by post The if/3171111T, and they will receive
Natural Restorer without Medicine
OWN QUIDE" qr
doilgeemstoiosnt,
eentrfoenebgir
insuring the and
liewaregiloovr expense, of perfect
epilepsy, para-
lysisp eps i,
a),
debility,eonst sicknessipnateirosn,o,usss,
p
sumptiog; dropsy, flatulency, diarrhea
fevers, sore throats, catarrhs, colds, noises
, dysentery,ough, asthma, con-
, no biliousness,
rheumatism, gout, impurities, erotiQm, I,Z' in the ears,
irritability, slciplessuess, acidity, phipyigll neur4Wai
headache, despondency; cram*, spasms :a,ciLt_, frattbiirn,
chit is ;also children's complaints. ug fits, bron.
F. truquestionably the attest Guide to bealth.” -.,
SM..

THE DAILY TIMES, SATURDAY, AUGUST 11, 1860.

" LIFE Busitass.
" And now the directors desire to call the especial
attention of the proprietors to the statements of the life
branch of the establishment.
"The details on this subject to be laid before you on
this day cannot feil to receive your closest attention, as
it is believed that in their probable consequences they
will form an epoch in the history of thii-eatablislirnent.
" The actuary's report on this subject will be read to
you presently. It is accompanied by an appendix, con-
taining the fullest particulars of the investigation made,
a printed copy of which is in the hands of each proprie-
tor present.
"To 4 will 41rea4 leave ,een that the computations
made have been of the most searching kind, and that
they present features of communication seldom, if ever,
presented in a like form, and to a like extent, to the
consideration and judgment of the entire public. It is
expected that these elucidations will attract a deep and
profitable attention to the subject of life assurance in the
minds of thousands and tens of thousands, who have
hitherto given no heed to its principles and advantages ;
and it is evident that this company, as well as others,
will not fail to reap much of the favourable consequences
to be anticipated.
"The Actuary's report will inform you that the con_
elusions he has arrived at shop an amount to be carried
to the account of the shareholders of £22,000, being
one-third share of the profits of the Life i3ranch, 40
that the bonus to be apportioned to the assured, with
participation, amounts to £2 per cent. per annum, to be
added to the original sum assured of every participating
policy effected previously to the Ist January, 1858, for
each entire year that it had been in existence since
the last appropriation of bonus thereon, on the 31st
December, 1859.

DIRECTORS.
«The following directors now retire, and 41. e
e<i idle
for re-election,-election,'looker, Esq., David e au_
non Esq., James Holme, Esq., Thomas D. Hornby,
Esq., Edward Johnston, Esq , James Lawrence, Esq.,
John Torr, Esq,

" DIVIDEND AND BONUS.
"The directors have taken into full consideration the
state of the company's accounts, and the prudence which
should govern the determination on the dividend to be
paid, especially with reference to the fact of the results
of the current year being, up to the present moment,
anything but prosperolis,
"On a review of the entire subject, they have arrived
at the conclusion to propose to 'the proprietors that a
dividend be declared of 3s. per share, and a bonus of
4s. per share, from the amount standing to the credit of
prof.t and loss, and that a further bonus of 2s. per share
be given, on 'this occasion, out of the sum apportioned
to the shareholders frOm the Life branch,—the whole
amounting to '9B. per'share; being free of Income-tax.
"With respect to this latter sum of 2s. per share, the
directors would repe4t the onviotion, expressed at the
meeting of August, 1855, when the last We bonus was
declared, that tine shareholders will understand that the
distribution now made oti the life account will incur DR
danger of creating an annual precedent. fig its appro-
priation is dud at inti-!rvals 0i live years, and, conse-
quently, no further profits on the life branch will be
divisible until the annual meetinc, in the yer.r 104!
Chairman.

August 2, 1860."
The CHAIRMAN said that being the period at which
it became the duty of the directors to bring before them