The Express.
London, England, 1863-06-08 00:00:00

LIVERPOOL JULY MEETING.

ACCEPTANCES FOR TER LIVERPOOL CrO (Headlamp) d 200
goys., added to a Sweepstakes of 25 sows. each, 15 ft, and 5
ally if declared, &c. Two wiles. (63 seta, 23 declaered.)
Age lh
Iralrereter
. .. .. . _ 9 6 0

--
Adventurer
Haddlogton
Joey Jones 6 8 6 Bohemian ..
Bartington 4 8 2 Black Deer_
Brilliant 4 7 U graty Moen
Carlsbrook 4 716 Fantail _.
Co
.....--

i
3 6 IS
3 6 13
3 6 13
4 6 13
3 6 13
3 6 II

i 311

--
The Knave 4 Elithfield
leiperatrlee
Lioness
Berkeley 4 Dr. 11)ntax 3 610
Tolima 4 Lail) Darla
Welcome
Victor tn. 7lb extra) 4 1 Illdiliewatch 3 6 8
Milligan
71> trap
La Marcella
Catch.'emalive 4 Laertee
Erin go.bragh
The Itoyal Sias 3

CIATIII&L ROLLIN—FITS SHILLING DAT.—SA.
TIIIIDAT, JUNI B.—Admiral:um on payment, 4,242; ditto b 7
Keens tickets, 5,905 • total, 10,147.
[Advertisement.)—HoukwAT's PlLLR.—Truth-
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and the surest restorative& They never prove delusive, or
merely glee temporary relief, but attack all aliments of the sto-
mach, lungs, heart, head, and bowels, In the only safe and legiti-
mate way, by depnratteg the blood and removing those Imper-
fectloes which are the foundation and sopport of almost ever,
disease. Their medicinal efficacy Is wonderful In renovating en-
feebled constitutions. Their action embraces all that is their.
able in a household's medicine. They expel every noxious and
tette matter, and thus the strength la ntutured and the ener-
gise atissalated.

to the highest amount of rent which the better class
of persons among the labouring classes could afford
to pay, but to what was necessary to maks the
undertaking remunerative to thunaelves as an asso-
ciation. In the first place it was simply impracticable
to attempt to lodge the labouring population of Lon-
don in a manner otherwise than remunerative to those who
did it. Now, what they had to go upon was the experience
which Mr. Waterlow had obtained in erecting a block of
buildings in • crowded part of Finsbury. He (Mr. Water-
low) said that for a sum of 25,000/, including all prelimi-
nary expenses, and also the dividends for one year on the
capital during the period of construction, they would be
able to put up blocks of buildings for the accommodation of
200 families. The gross estimate was 25,0001., and assum-
ing that each house on a moderate estimate would be let
for about 151., that would give a gross return of 3,0001. •
year. or 12 per cent. on the gross outlay. From that, if they
deducted in respect of ground rents, cost of supervision,
the occasional loss on rooms unoccupied, and other inci-
dental expenses, 501. per cent. on the returns, • net return
of fit. per oent. would still be left after the payment of all
expenses, both present and prospective, and that., the
thought, would be sufficient to induce capitalists to embark
their money. A question bad been raised as to whether there
would not be even a better net return for those who put in
their money, if part of the capital 1M raised on the secu-
rity of the buildings, and having of course a preferential
payment. Half the money might be obtained for 4j per
cent ; and if the net return was ti per cent. on the whole in-
vestment, there would be 711 or 8 per cent, for those who
put in their money. But it was • question for consideration
whether they ought to have recourse to such a step. He was
induced to think that they might raise all the necessary capi-
tal in shares, without obtaining any preferential capital
whatever. (Hear, hear.) He had spoken of this under-
taking in the sense of its being remunerative. At the same
time he need hardly say for himself or for those whom he
was addressing that they should not have troubled them-
selves about it as a mere matter of profit ; but the reason
why they wanted it to be remunerative was that the only
way of working on a scale at all commensurate with the
general object they had in view was to show the capitalists
of the country at large that it was an investment affording
a reasonable prospect of fair return. (Hear, hear.) He was
glad to see that a sum of 14,0001. had already been sib.
scribed towards the object in view, and he called upon Mr.
Waterlow to explain his plan more in detail.
Alderman WATERWR said be was much gratified at
finding so many influential gentlemen present, and he
hoped they would not separate without completing the ar-
rangements necessary for accomplishing the object for
which they had met. He would assume that every one
present agreed that if they were permanently to elevate
the industrial classes, if the large sums of money spent
to improve their secular and spiritual education was to
accomplish any lasting good, they must improve their
horses. A careful consideration of the subject for some
years past had satisfied him of the many difficulties
which surrounded the question. The history of the labours
of the Metropolitan Association and the society presided
over by the Earl of Shaftesbury, to both of whom all
honour was due as the pioneers of this movement, both
lessened and increased these difficultiea—lessoned them by
showing the mistakes of their costly organization, and the
error, of their early experiments, and increased them by the
fact that both the societies failed to pa, the dividend they
had calculated to realise. But should it be said that the
capitalists of this great city, while acknowledging the serious
importance of the evil, were afraid to attempt again to re-
medy it because their past efforts had not succeeded
Snowing all the attendant difficulties, he felt he had no
right to call public attention to this question, or to ask
capitalists to join him in an investment of the kind proposed,
aro any mere theoretical statement. He felt that he must
himself, by • practical expel knout, test the commercial suc-
cess of the plan he proposed before asking the public to
take it up on a large scale. This he had does, and the figures
he had circulated in • printed statement were facts, not au-
guine calculations, and he was prepared to eubstantiste
every one of them. He might be excused saying
one word in reply to the critics who bad asked—Did this
movement mean business or philanthropy! He answered,
essentially the latter, for he held that he who helped the
poor man to earn his own living by profitable employment,
or he who could provide the labourer with a better home at
' the same price he paid for his present wretched accommo-
dation, and at the same time obtained a fur return ou the
money invested, was a greater philanthropist than he who
maintained him in idleness, or lodged him from charity ; for
the one destroyed his independence, while the other helped
to increase it. (Hear, hear.) He added that he lied signed
&contract for three more blocks of buildings similar to that he
bad erected, and for leas than the sum he bad paid for the
first. The outgoings were based on a calculation of five
years, and upon the absolute assessment of the parish of
Houndsditcb on the block be bad put up.
A working or provisional committee was nominated
for carrying out the undertaking, oompoeed of Lord Stanley,
as chairman, Alderman Waterlow, Alderman Fionis, Mr.
Samuel Morley, Mr. Henry Edwards, Mr. Travers Buxton,
and Mr. hills, and at the close of the meeting the sub-
scriptions amounted to upwards of 13,0001., including one
of 500/. by the chairman.