The Express.
London, England, 1853-01-14 00:00:00

THE RENT GUARANTEE SOCIETY.

The ordinary general meeting of the proprietor,
wee bold yeeterdaat the society's offices, 3, Charlotte-row,
illanitet-hease ; Mr. CCTSIZZAT JOHNSON in the chair.
Tbil following report wee read by the mastery, Mr.
Lyon :

"The directors in presenting this, their second annual
report, congratulate the shareholders upon the present as-
pect of the affairs of the society, which fully confirms the
opinion originally entertained of the importance of its
operations, and leaves no doubt of future success. The
experiences of the past two years has proved the soundness
of the principles upon which the society was established,
, and gives evidence that era long it will be highly remuner-
ative to the shareholders, and, at the same time, equally
beneficial to the owners of house property. During
the past year the sum of 1,2301. 2s. 4d. has been re-
ceived foe commission; but this, although more than
treble that of the year 1851, does not represent the
actual amount of business now in the bands of the society,
as the commission on rents entrusted to them for collection
during one quarter does not become receivable until the
succeeding one. Oa the fish of January, the amount of
ounimusion receivable by the society amounted to
1,7171. 10s. 11d., in respect of business then in the office.
The directors have continued to exercise the caution they
used during the previous year, which is evidenced by the
fact, that of the proposals submitted to them since the esta-
blishment of the society, amounting to 81,1791. B'. Bd., they
have only accepted 28:=4. 4s. Bcl. Your directors have
had numerous applications for agencies in the principal
towns, but they have not made any appointments beyond
that St Birmingham, which they announced at the last
general Meeting, nor do they contemplate doing so for the
present, believing that an ample field for the succesoful
operations of the society exists in and around London. Mr.
Charles Bailey having signified his wi,ll to retire from the
direction, the directors, in pursuance of the deed of settle-
ment, have elected Mr. Edward Cruder to fill the vacancy,
and recommend that his election be confirmed by the share-
holders. The directors have also to report that Mr. Morris
has resigned his seat in the direction, and it is intended
shortly to fill up the vacancy. In June last Mr. Twynam,
who had so successfully commenced the management of
the business of the sodety, resigned the office of resident
director, owing to the state of his health and a pressing
matter of private business, and the directors beirg of
opinion that it would conduce to the advantage of the so-
ciety to have the service of • secretary, appointed Mr. John
Lyon to that office. Your directors, in their last
report, expressed their anticipation of a large exten-
sion of business from the collection of the incomes of
public companies and rates. Their expectations from these
sources have not yet been realised, but they confidently
hope that such will ultimately be the case. During the
past year several additions have been made to the Lithe
Beat-charge Department, and at the present time the col-
lection of the tithes of 16 parishes is in the bands of the
society, and incumbents whose engagements had termi-
nated have renewed their arrangements, and they and
others have expressed themselves in high terms of spproba-
lion of the management of the society, and of the comforts
and advantage to be derived by the clergy from availing
themselves of is agency. Considerable inconvenience having
been found to arise from the annual accounts being made up
to the 30th of November, your directors recommend that
in future they should be closed on the 24th of December in
each year, and the general meeting shall not take place
until the last Thursday in February, and u such pro-
posed alteration requires the approval of two extraordinary
general meetings, your directors have caused the necessary
notices to be given for that purpose. Your directors
would again urge earnestly upon the shareholders the
great importance and advantage to be derived from their
co-operation in extending among owners of house property
the knowledge of the existence of the society, and of its
services es • misuser securing them from anxiety and low.
The difficulties experienced during the first two years of the
society's operations have ton considerable extent been over-
come ; and the directors have reason to believe that =soy
landlords are waiting to see whether the society maintains
its position. When such is proved to be the case, there
may be anticipated • large yearly addition to the busi-
ness of the office, and which may be performed without
materially adding to the present staff at a very trifling addi
titian! expense."

The Cdatitsfau said the report did not enter so fully into
detail as might have been expected from the fact that of
the four or five branches already established every one had
been attended with profit. But the directors had been re-
strained by the reflection that there were other eyes upon
them besides those of their partners. For example, there
was a respectable body of gentlemen at Manchester who,
having observed that the Rent Guarantee Society in Char-
lotte-row war going on very well, had conceived die idea of
establishing a similar one in Manchester, and had had the
modest assurance to ask them to supply them with informa-
tion for that purpose. He need scarcely say that at present
they did not recognise the projected society. (Hear, hear.)
The results of their experience so far warranted them in
hoping that time in its progress would add to the income of
the society and the dividend of the shareholders ; and
if any proprietor wished for information he had only
to emu to Mr. Lyon and the books would be laid
betree him. The business of the society differed from al-
meet every other kind of business. It differed from that of
as arreereace society in this important particular, that they
bed le ears every penny before they got it. Their available
hesems was alma 1,700 i., while the expense of manage-
ment ememeed le 1,8001. There was thus, as might have
bees 1111111.1114 at the sad of two years, • deficiency of
abode left es between reesipts and expenscs. But what
was the youreet for the. futon? On the last occasion
who he bed the *awe of nestaag them the income was
in he shod ISIS. There was now an increase of
as,,lsiTheni wore eseeenellie ouldaty that in the coning
yaw this rate of inerease woad be etaintained. The ex-
pense% it was though% would ail isenue ; the star would
ecestiess as it wee; the rent and the colleeleas yodel be
the same. They might, thereto.% lushly ordeelette that in
the sent year there weld be ea Omen el, as hen, SAX,
and thee, be tzusted,was the het eseeden en whisk the ditto-
ton meld ever bane losuipmelie priest of dividend out
of The Mb ef day die directon esoddseM very
4 ; and helped that, haviag by rent year
mole the the espenditere,.thsy would thee be
able W leek le OM poise Ibis& He condoled
by soft the of Ile med.

Mr. LEota, is emeeifidg Ih; mid that au*
mistime, dieentioitt awl dimdmiemlisa MSS atomised la
coudwetiag the affairs of the empsay, that ha had se
fears for the stability of the lasitslies. That the
of the moiety should bam sees this dembied I. the mind
cl
esizild not be otherwise them seakillassely le the thew
sad if that rate of Mmesca wen aseluiebed it was
*Admit that before keg there would be a wry large divi-
dead. If they arrived at au imams of may 3.0001., they
wouldihave so came to regret their invest/ImM.
The motion was that carried.
Moen. Twynden, Maxwell, mid Brotkelhaak wen re
ielected direeton.
Oa the motion of Mr. J. Jou., 300 'Mum were voted
as a reuntaeratiem to the directors for their sentess. The
sum of ten guineas wee also voted for the salami.
Ow the motion of Mr. H 31,117 DAVIS, libials in the
capital was &tiered at the rate of 6 per mai. wg w the
30th of November._ _ _ _

(sisitte motion of Mr. LLom, thanks were vita kw Ike
solicitors sad surveyon of the company.
TM smiting terminated with a vote of thanks W Ilhe
chairman.

At the termination of the business of the ordinary
tel meeting, an extraordinary general meeting wasseLissi
the purpose of altering that part of the deed of settlement
of the company which provides " that the accounts Mall
be carried and be made up to the 30th day of November ha
even, year," by providing that the accounts far sash gest
shall be made up to the 24th December, Maned alibi ink
of November, and that all future ordinary seismal isset.
Inge shall take place the last Thursday in February in each
year, instead of on the second Thursday inthe math of
J anuary.
The proposed alteration was agreed to without diem-