The Express.
London, England, 1856-09-04 00:00:00

LANCASHIRE AND YORKSHIRE RAILIVAI

COMPANY.

The half-yearly aseetiog of proprietors was held
yesterday, at the Palatine Hotel, Manchester; Mr. H. W.
Wresserf, M.P. (chairman of the board of directors) pre-
old*.

*Matternet of the half-yearly report end statism' of
aia has already been published.
liCCzAiamAir, in moving the usual eastermation of the
dbeelmt peareediegs, coogrstalated the shareholders on
tirst=ime impr3sement the company's affairs, and
several statements which ha said had *groomed
k 'meet the public prints, calcalated to raise a ssepisios
that the proposed dividend on the past half year had net
been fairly earned. The outlay on the permanent way had
bees rreperly charged In the working expenses of the period_
during which it bed Neu incurred ; and no more money
would have mho earnded la renewals during the earning
Ma months. (Rear, hear.) The expenditure on capital
amonat, lot some years past, on old porticos of the railway,
war rendered In.— • by the increased accommodation re-
t for thatl • trarfle which bad led to --

:ninny
paired ___:theeessing trues warty ma. ea avg.
meeting dividend ; sad if the thee...holders desired that
their prelim should be sommenutrate with tee banana
offered to them, they mast madam, to provide adequate
facilities. (Hear, hoar.) He would now read some figures
*bowleg the progress of the company for several years pan.
The total revenue for the lan half year bad been 688,0471.
Deducting tke Liverpool sad Boethport receipts (sot
aoluded In the eorreepoodiag ballot last year), amonating
to 8,4431., the ant receipt' bad been 657,5011., tifillisat
504.2072. in 1865, en ingress* of 63,3971. The eependiture
of the tut half year bed been (deducting that of the Liver-
pol and Southport), 226,1211., egaiost 211,409!. in 1856.
The improvement la passenger traffic which he noticed at
the last half yearly meeting bad contused, sad war still
going ea. The passenger receipts of the last balfleas
showed an lamas* of nearly 14,40 W. ; and in the traffic of
the week just ended the increase in passengers alone was
1,0001. The average of each dam eoneeyed war, in 1854,
Ant elms, 10 per cent. ; mond slue, 34 per neat ; third
elms, 661 per cont. Is tee corresponding sth mouths of
1866, the first ekes bad decreased to 9 per cent., the second
ethos had decreased to 27} per cent, and the third clue had
lecreased to 84 per east. In 1854, the average earning
per paseeager was le. 31d., each passer ger travelling on ea
storage 11.3 miles; in 1865, the average earning was surly
le. 3id, the go distaste, being 10 8 miles; and in 1866
the average earning had been only le. IL tub, the average
distance being 11.3 mike. The gnat increase in the total
&ember of passengers had sufficed to augment the pia-
singer retrousse. The inereme in goods traffic had been
assr:y 37,0001. The rolling stock of the company had been
deing a greater amount of work than'it bad ever does before
the but ball-year, and this proved not only that the stock
Itself wee is efficient order, but that the permanent way
illaahl not be in the imperfect condition ascrib•4 to ie in
Awe onatemeats to which be had already alluded. The
linitheelees had earned a larger amount per engine than
eel Rai done previously, and the company had bad
Is lead sad unload 169,593 more toes of goods
than la the sorrespeading half of 1866. In the
balf-yeer jut ended, the comproy bad carried 1,646,318
tons of goods, against 730,325 tons in the correaponding
half of 1860. showing an increase, in the six years, of more
Ithan double; and if the mutant increased to 3,000.000 tins
in sin yean more, which he hoped woe not impossible, there
must of course be an increased outlay, which would be
fairly charged to espial. The lease of the Rochdale Canal
bad sow been in optratioa for twelve months, and it had
been utisfeetory to the Interests of the company. Arraege-
moats were in progress which he hoped would lead to •
more harmonious anion between the railway and water
companies, and put an end to the prejudicial compititioa
as the east tout. Despite the late stringency is the money
canker, the rate of interest oa all the money trimmed by
this company was wily's. 90. per cent. more than it woo
twelve months ego. The revenue of the company had la-
creased from 396,389 i. in June, 1851, to 666,0171. in Jane
1850, whilst the divid.nd in the awes period had increased
from 2 percent to 44 per cent.; and looking at whet this
railway bad done be past jeer., the shareholders had a
right to be most eangaise as to itefature p•i *welts (Hear.)
Mr. BTtrair (v'c I-chairmen) seconded the motion, sal
geld be Doped the period was not far distant—perhaps it
would be salt March—when this coupes, would pay a

dividend of 6 per oath (Applause.)
The report sod stemmata were unanimously adopted, as
also wee a resolution declaring a divideed o: 21. 6s. for the
halflear on the ordioary stock, sad of the prrportiona •
ansounte on the other deeeriptions of sham in the company,
all payable an the 16th inst.
A resolution was this unanimously screed to authorising
the directors to oppose all bills is parliament which they
ethaidered prejudicial to this company, and to take all se-
*mar, steps in reforms, to them.
The 8501ISTMLY read the report of the committee sp.
piloted at the lain half yearly meeting to inquire into the
sharps brought by some Brsdfcrd merchasts 'plea Mr.
Luderton, the chairman of the cradle °enmities, of makieg
private and improper see of statistical returns of traffic cu-
rled by diffuse% firm. in that town. It appeared that the
parties making the aver cation had declined to punted in
the matter, and the committee had, therefore, restrained
Mr. Audertea from maids, his own explanations, ae he had
been most anaious is de.
Mr. EDWAYD WILTS'S SOTO& a resolution to the effect
that the °bermes against Mr. Andartou had failed of proof,
and exptewise the shareholder.' coafideoce in him es •
direetar.
Mr. /LOUPES seconded the Imitation, and, star a disco,-
ohm, during which Mr. Haigh (of liradforo), &deeded the
them takes by the Bradford mei chola te, who were still un-
satisfied, the motion was carried, with three dicaentients.
Mr. ANDIZTON, who bad previously Paul his seat at
the hosed at the disposal of the shareholder., tten reprised
r hithertoe° fi .
done,•
foro
iamb 0
beel, eweotio.
ld tcolhteit ase th
to .ist. ma..a,
bk. ofhtadit e
the la of the company. (Applause.)
The proorethogi c ociaded with • vote of thanks to the
ehateme and directors.

. .
.10...E.Altorying:litIroali::11Atainr.63.—pinThe.lesetboAr.A..grsa7akqbryit..,ria.t.tapuhtseysfe:ostsk,mbsithl
seaboard. We And Is the Tillie jaaroal, tha Glucose, jest
received, a latter from Sittmakb, ia whit% 11111111d00 to Mid*
of a violent shock felt on the 234 of July, et dies is the
=armies. It lasted for several etiesnds, sad wee repeated
about 6 o'cicck with • violeses seek as had act bees saps-
enticed noes 1827. The 11110004 series of .hicks wore we
strong, and followed in suck gala secosesioa, that the dis-
mayed iohabitasta took Mays is the public square, &bar
dos's': their beams, several of whisk wen thrown down.
Meek ter and damage have bees reseeded. bat fortunately
so seaidesta. &mg hurricane* die prevailed, it lipped,,
is the ipmerameat K Km= &Wei ohs entire math of
July. Tits Meal jositall en filled with atemas,te of their
Ofirsollve effesis.

.

int .oxpregig‘.
TO MAMMON DENTS.
aftwelimaals !lionised Or" me Elm," Landau Emig' yam,
melt wet Pa. Bouivrieduest. by Two Medial the
day of pabLe.dlaa.

RIG!! WATER AT LONDON BRIDGE.
Ti WA- litarniny 4k. 42136 Aftdnec% 4.11. Ea.
Ilweesaraw—llottaas. U. Altanoas. bb. 330.

LONDON, THURSDAY, SEPTEMBBR 4.

Ix 1844 an Act of Parliament was pawed contain-
lag a clause by libido all Life Assurance Companies
established after a given date ware directed to fur-
nish the Registrar of Joint Stock Companies with an
abstract of their accounts annually. Such a measure
it wu felt would &Sad the public some means
of judgieg how far the new compsniee—then
springing up with an unhealthy rapidity—were
entitled to the cur fideres of those whose savings they
proposed to receive and accumulate u a future pro-
vision for their families. Unfortunately, no form of
accounts was irsisted on which would show in a
clear and authentic form not only the receipts
and expenditure, but siso the sasete and liabilities;
but, at any rate, so far as it went, the Act
promised to be valuable. Nevertheless, whether
in consequence of that happy facility for drawing
lenperfect Acts which is so largely patronised by the
Legislature, or from the neglect of thou whom duty
it is to sae that such laws do not remain a dead
letter, we cannot tell; but several Insurance Comps-
nits have either vet the Act at defiance by rendering
no accounts, or have furnished imperfect accounts
or statements in such a form es to be utterly
unintelligible. In a valuable little abstract of these
registered seeming, by Mr. CILRISTII, of the Scottish
Equitable, a list is given of no less than 60 Issuance
Companies who have rendered no accounts. Some
of theta workers in the dark have already found
their way to the Master's office, and it is fair to
presume that of the remainder the majority are
either tnivelliug the same road or that their doings
will not bear the light of day. The table of premium
receipts and expenditure at the end of Mr. CHRISTIE'S
pamphlet is worth the careful sonsideraties of in-
surers; and although the work omits, from various
causes, many of the accounts, the results shown by
those which are inserted are so remarkable that we
shall CO doubt receive the thanks of all 'let/rested in
Lire Assurance by giving them the moat extended
publicity.
It will be convenient to divide the oompanies whose
accounts are given in Mr. Cunienz's publication,
into two categories ; those whose accounts commence
between 1846 sod 1860, and those which begin after
1860. Such of them belooging to the former of the
two classes as ore still in existence, may be supposed to
have got over the unusual expenditure incideatal to
their foundation. The first category, then, coasists of
23 companies, who bus received from the date first
mentioned in their accounts 1,348,7391. in prosaism;
and have paid 63S 9681. for expenses of managemard,
end 341,3184 for life loses; leaving a balance of
368,4631. out of the 1,348,7391. received. Of tl.'s
sou eight of the offices held 283,0114 w that among
the other 17, little more than 21,0001. remained of
the premiums alter an existence of seven years and
upwards. The average ratio of expenditure to the
premiums received was 47* per cent., and of life
losses 26i per cent. The following table includes
those whore tate of expenditure has been highest and
lowest, and stows the balance paid in excess of
reesipts, with the period included in the asecunts

Nato Exam NM Up= is
848 21114
inst. 449884e1im. ammo/. sammet.
ONNY IN Z 13,1137 ... 114844 LOAN
Ombies 10 .„ 1,879 .„184948 7,838
Preindev— * 140 ... 743 1045.$ .„ 8,119
NNW N ... 1414 „48 ... 11,148
MriNt 19 IF reNaelal 83 ... 1,117 „. 184741 ... 9,711
1980941 mil BO „. 111,983
Loa lassertle if .„I` 4344 .„19444
a rmiaiss M
G. AILS
a :gni - Kan
UN* liaMrs 81 .„ 114744 ... $9,141
NONA $1 14441 43,738
amiss' . 81 .„ 144444 41,124
landia &
lam N 1118-84 8,111
. _

• Mona* 'WWI teen Is6ll, ISM

The emend category isolatlos 33 sompanles; their
moists from steads= moat to 397,2461. ; their
=prams of assessment to 377,1261., lases said to
80084; asking a total expeadltare of 64.1871.
beyond the amount of premium votteival. The
avenge 'vie of expecte, of amsassoessat Is 95 per
coat. of the receipts ; the pajama for deaths 211
per ant.
_ _

We subjoin &similar table to the recalsg, taking
them companies only iwboss secosat• essimease an-
terior to 1884, emitting those whose rate el ex-
penditure is between 86 sad 160 per coat el dm
re/nip:6:

Rate nom Date zips=
Par ad of atm&
ors-. sapealitero. staysale. aiweant.
(Meal aid Orient WI ... 111.7111 11484 ... L 4372

„. 4446 „. 1351•
Imilk6 sad Yana.% 30.1 3,1111 11434 %VG
130 1,134 4 ...6.641
lisps* asa lArsclal 13,330 ~ 4 83,30
.. 4,301 7.102
116113‘446 ... len .„ 10684 .„ 6,361
/ft 30 . 1,613 „.
366111 b
Ides ---- 171 ... 11604 11.210
Albsesma_ 166 .- 3,110 13/1-3 1104
11311166 1603160311... 2,216 11664 ... 6 6,,396
Asp 130 ... 11,966 ... 111314 11,41$
Us, apraty—.— 1130.4 „. ISAIS
Trateinee as Unity $1 _ 11404 44437
/Wart 0 Gallill 00 ... %,Q3O 1361.1 111,733
MINN Wale. ,„ 11.1111
Nudism rimted..l Is „ 24,136
Wm, 1a44 01, SO.. • SIMI
sash . :6 . .„11664 4,434
If 4
The total amount received by the 60 companies foe
premiums wig 1,745,9864, the amount paid for Weiss
425.6264 and the 0061 paid foe management owe
and sateen fAouseisd pesos& : leaving a
balance of premiums received et 304,2664, to repre-
sent the liability on insurances which mast &meant to
many millions sterling. Of this balsam we have
already stated above 283,0001. is held by eight com-
panies.

We must also remember that 60 companies have
grade ao return. ; 'overall of these are now windier
sp. and the statrera have to thank the officials,
whale pees neglect la allowing the bonehead infringe-
ment of the law has suffered this tribe of needy spe-
culators to pursue their work in wormy. We would
ask why the to:lowing companies are permitted to
set the Act of Parliament at defiance with impunity P
Registered.
*shines
Aloe
Bruit h (oda*/
Br.t.sh Prato**,
. 1863
1864
1654
1652
1968
1861
1862
1862
1854
1654
1662
1866

Edon oor
of black
ram to
imam*
faallior to
ito cloak',
balsam of

this monstrous outlay of a million sterling has bean I
distributed without any sufficient return. Mr.
CHUN= Lae done good service in issuing in a cheap
form the abstract from which our firmware compiled'
for nothing beta widespread publicity can defeat the
schemes of these speculators on the credulity or
ignorance of the public; and we cannot too strongly
reprobate the culpable negligence of those who, by
permitting companies to conceal their accounts, or to
return useless or imperfect ones, give every facility
for perpetrating such acts as have recently been
brought to light in various courts of law.
If any patriotic member of Parliament MI spare
• moment from his magnificent projects for saving
his country by turning his opponents out of office
and his friends into it, he might very cheaply earn
the gratitude of a very important section of the com-
munity. There are tbousands denying themselves
daily every luxury in order to secure a provision for
those whom they will leave behind—friendless per-
haps, sad helpless. It is the hard earnings of such
that are dissipated by these life assurance leeches,
who get up companies as • livelihood, pro.
tented by the practical impunity which the
law allows them. If any model legislator will
apply himself to procuring, not only accounts from
all the companies bound to furnish them, but wail
obtain those accounts in a form that shall be intelli-
gible, and shall exhibit the actual condition of assets
and liabilities, he will indeed render • service not
only to the increasing clan of insurer, but to ell
assurance companies, old and new, by eliminating
from their ranks the fraudulent or unsound, end by
putting an end to the trade of those gentry where
biographies were given for public edification in the
recent trial of „filter v. the Athereenm Life
Assurance."

lOC
. 1 Beneror
Falcon IB6I
0 I Indemnity
BOW/ sad Fonsga *steal
1R
Lowhazd 1914
i Liadoa sad Coasts lB6l
)(stropsldea sad Provisos'
Provi•oial
. i
i I , S. Os. no
Buoy
Sceptre of Boolood
Security Mateo'
186
1 ; with several others of sees yeast sstablii
llii The revs which we haver hers placed bob
I readers demonstrate that sa organised levy of
mail on the public bra been gain os for Ts
the advantage of those " getters se of ins
ecospecies w how names sr* now boo agog fans
ae, and of the tribe of directors, sasestaries,
1i , stationere, and others, among whams the hob
11
•