The Northern Daily Times.
Liverpool, Merseyside, England, 1856-08-06 00:00:00

THE NORTHERN TIMES.---LIVERPOOL, WEDNE

review of the whole question, concluded by proposing the

resolution

The Rev. Canon Greenhalgh seconded the resolution
which was unanimously carried.
Mr. Richard Sheil, in a forcible and impressivr, ftidress,
proposed the third resolution, which was as follows:
" That a committee be appointed with full powers to act
on behalf of the contributors to the fund, and to adopt all
such measures as in their judgment may seem best for
carrying into effect the foregoing resolutions."
Mr. M'Donnell, barister, seconded the resolution.
The resolution was unanimously adopted.
The proceedings closed with a vote of thanks to the
chairman.

confirmed, only one person voting for Mr. Gough's
amendment for refusing the £lO.

THE BOARD AND IMPROVEMENT COMMITTEE.

The proceedings of this committee contained a
recommendation that power be given to purchase some
numbers for re-numbering houses within the town.
ship. _

Dr. Baylis expressed the pleasure he felt that the
subject had been taken up by the committee, and hoped
that the system adopted by Liverpool would be carried
out.

The proceedings were confirmed

THE FINANCE COMMITTEE,

This committee announced that the loan commissioners
had consented to advance the sum required by the
public library on the usual terms. The proceedings
were confirmed, except s ) far as that which related to
the recommendation to withhold the 10/ to the registrar,
which had been disposed of by the proceedings of the
Health Committee.

THE FERRY COMMITTEE.

This committee recommended a gratuity to Mr. Dent
of £25, and also gave a full report as to the present
condition of the steam boats. The ferry receipts for
July, 1355, were £3,083 18s sd, and for 1856, £2,923 5s
id ; the receipts from April 24 to July 31 were, in 1855,
£8,274 6s 11d, and for 1856, £8,515 is 16d ; and the
expenditure from the 24th of April to the 31st July was,
in 1855, £5,219 6s 9d, and for 1856, £4 804 Bs.

. ,
Mr. Roe moved the adoption of the proceedings,
except so far as related to the gratuity to Mr. Dent,
which subject he begged to have referred back to the
committee.

Mr, Bell wished to know why contracts for passing
over the ferry were not taken for twelve months instead
of six months,

Mr. Rae answered the question by saying, that by
having the contracts terminable all on one day, would
have a tendency to facilitate the business of the collectors,
and also simplifying the ferry accounts. It would also
he a large saving to the ferry, as it would be the means
of enabling the collectors to know who were contractors.
A desultory conversation followed, as to some
alterations which had been made with regard to the
management of the ferry, but the general expressed
opinion was, that the alteration which had been made
would, in the long run, prove to be beneficial.

THE TOWNSHIP EXPENDITURE

Mr Rae then came forward, and moved the resolution
of which be had previously given the necessary notice,
and which was as follows :—" That, with a view to
greater economy in the expenses of the township, it be
referred to each committee to prepare a detailed estimate
of its expenditure for the current year; and that
those estimates be sent in to the finance committee,
when completed ; and that the finance committee report
upon the same to the next general board."
He would only request the attention of the board for a few
moments, while he briefly stated the grounds on which
he brought it foward. lie might state that in the com-
parieons which he had made in order to elucidate the
matter, he had taken the township's expenditure for the
year 1851, and those of the present year. He had not
taken the year 1851 merely because it was exactly five
years, but because at that period they had fairly entered
upon that improved financial posleion which was secured
to them by the Act of 1850. By that act they had
secured a lease of the ferries for twenty one years, and
made certain permanent arrangements with the bond-
holders tor the payment of the debt, He then went on
to explain—(stating that ha would use as few figures as
he possibly could, because figures were not at all
picturesque, to illustrate what he meant) —that in the
year 1851 the commissioners had paid the bondholders
one per cent, which certainly was not a large sum, bat
it was certainly better than nothing at all, after not
having been paid anything for so long a period. The
next year they had paid one and a half per cent ; then
they rose to two per cent, but this year they have
receded, and have been again obliged to go back to the
one per vent What was the cause of this sate of
things ? Why was it ? How did it cccur that
they were placed in precisely the same position in 1856,
that they were in the year 1851. A lapse of only five
years. He dial not mean to attempt to account for it,
but would bring a few figures to their. notice. Now, in
1851, the total revenues of that township, arising from
the rates, the market rents, and all other ordinary
sources was £10,528, and for the present year, 1856,
from the same sourcPs, the revenue hail risen to £15,264.
Thus, it would be seen (and he was pleased with the
result), that the revenue of the township from the rates,
&c., alone, had, in five years, risen 50 per cent, lie
would also inform the board, that this rise of 50 per
cent was not sudden or rapid, it had been a steady and
progressive increase, because during the time, one year
had never been less than its predecessor, and from that
fact, he had no doubt but that the revenue from those
sources would still be progressive. He would next turn
to the other side of the question. The expenditure
named, what might be considered as the current
ordinary expenditure. In the year 1851, it amounted
to £8,993, but in the year 1856, it was £11,912, showing
an increase of 32 per Cent. In that atnount, he found
that the chief items in which there had been an increase
were, in wages, which had rose 74 per cent; another
item, 46 per cent; lighting, 35 per cent, and
in some others. In the treasurer's d2partrnent,
there had been an increase of expenditure. In 1851 it
was £519, and in 1856 it was £572. But there were
some items in which there had been a decrease. For
instance in the Law Clerk's department ; the expendi-
ture amounted to £712 in 1851, while in 1856 it was
only £545. But in taking the increase on the whole of
the items of expenditure, the net result would be as he
had stated it, viz., £2 919, or about 32 per cent. He
would next direct their attention to the ferry department.
He had been looking over the ferry items, and he
found that in the year 1851 the receipts were £21,644,
while in 1856 they had risen to £27,152, being an
increase of 25 per cent. In that account there were
several items in which there had been a large increase ;
for instance, there had been an increase of 33 per cent in
the item " daily ferries." The next item to which he
would direct their attention, was the revenue of the
Monks' ferry. In the year 1851 the receipts were £2,631,
while in 1856 they were £2,270. The receipts of their
own ferry during the five years showed an increase of 40
per cent, while it would be seen that the receipts of the
Monk's ferry had increased only 11 par cent. H tying
directed the attention of the board to the difference
that existed between their own traffic and that of
the railway traffic, he said he should make no com-
ment on the subject, because he was well assured
that it would receive the immediate and careful attention
of the committee. The only other point to which he
would direct their attention, was the increase in the
amount received from the contractors to the ferry, which
had only amounted to 129 per cent, although the popu-
lation had increased, while the increase in the votes had
amounted to 40 per cent. That was likewise rather
remarkable. The next, and concluding item he would
refer to, was the expenditure of the ferry. In 1851, the
amouut of ordinary and permanent expenditure was
£13,385, while in 1856 it was £21,615 This was
exclusive of new boats, and other extraordinary items
It would thus he seen that the working expenses of the
ferry for the last-five years had increased 44 per cent.
Having mentioned several items in which there had
been an increase, varying from—in coals 90 per cent, to
wages 26 per cent, he said it would be seen that there
had been an increase in the revenues, from the rates
and other sources, and likewise in those of the ferry,
yet they were not in the position they should be. If the
expenditure had not increased as it had done, they would
be in a position to pay 5 per cent to the bonnholders
instead of 1 per cent. Thus, it would be seen, that they
were in a worse position in 1856 than they were in 1851.
For his own part, he did not expect much good to result
for the present, but still he had thought it
his duty to bring the subject forward. Ile did not in-
vite any discussion on the items he had brought forward
on that occasion, because he thought that the proper time
to do so would be when the report was brought up, and
would therefore conclude by moving the resolution he
had proposed.

Mr. Keightley seconded the motion without any
comment.

The motion was then put from the chair, and unani-
mously adopted.

THE IMPROVEMENT BILL

In answer to a question put by Dr. Baylis,
The Chairman replied that the commissioners would
not have the power of increasing the rates, without the
consent of the ratepayers, beyond a certain maximum,
and that the powers given by the bill, s ere a protection
to all parties.
The board then adjourned.

THE ADELPHI LOAN ASSOCIATION

PRESENTATION TO MR. ELLISON, THE
SECRETARY.

Yesterday evening the shareholders of this body enter-
tained Mr. Christopher Ellison, their secretary, at
dinner, and on the occasion presented him with a silver
tea service and a purse of gold, in testimony of his
faithful services to the company: The banquet took
place at Radley's Adelphi Hotel, and was in accordance
With the celebrated character of that famous hense, and
Consisted of eVerything that money could purchase and
taste suggest. About 80 gentlemen were present, and
amongst these were J. Hickey, F. Wastly, W. R.
Camidge, W. Corlet, J. Whittaker, J. Radcliffe, J.
M'Monagh, H. Hime, J. W. Bell, W. Foster, R. Marrs,
D. Boote, J. Walthew, W. Fisk, jun., &c., &c. The
chair was ably filled by Mr. John Davies, and Dr.
Burrowes in the vice chair. When the good things of
the banquet had been duly discussed, the cloth was
drawn, and the chairman then gave " The Health of Her
Majesty the Queen," which was drunk with all the
loyalty and enthusiasm always afforded to her name.
The chairman then gave " The health of His Royal
Highness Prince Albert and the rest of the Royal
Family.". Drunk with all the honours. The chairman
then said the vice-president would propose the next
toaat.
. .

Dr. utrowes, vice-president, said, every one midst be
fully alive to the fact, that each institution, whether it
be religious or moral, philanthrophic or mercantile,
depends entirely for its efficiency and success, its active
usefulness, and its pecuniary advantages, upon the
oMeers who guide it. (Hear, hear.) However valuable
an institution may be, however they might appeal to
public interests and to public necessities, however large
the capital it may command, and the business it may
attract, unless the officers who are placed at its head,
are the right kind of men, that institution will be sure,
sooner or later, to disappoint its tsttpporters atiri capita-

lists, and fall to the gioUnd, and he numbered amongst
the things that *ere. (Laughter.) Evert if the
necessities of eomnlercial interests require that it
should be replaced by another. ([tear, hear.) tut in
our case, I say,. we have the right crew, and our officers
are Men, Who, had they been trained and educated, and,
I *as going to say, made for the very purpose of filling
these offices, we could not have bad better. (Cheers.)
I need not occupy yonr time by detailing the admirable
manner with which the president has discharged his
official duties—the regularity of his attendance at the
meetings of the board of directors—the attention be has
paid to every application, and the courtesy, with which
be has treated every director. 'These are deserting dot
merely of a formal vote of thanks, but of our
most cordial acknowledgments. (Hear, hear, and cheers).
With regard to the directors, I may observe that I have
been much pleased with the manner in which they have
transacted the business of this association. (Hear,
hear.) The patient and minute investigation of the
character and circumstances of the applicants with the
proposed sureties, and their unbiased and impartial
decisions are beyond all praise. (Cheers.) I have now
to glance at the way in Which the senior secretary has
done his part of tile work. It is really not too much to
say that the association has largely depended on his
efforts. (Cheers.) A man may discharge the duties of
his office for another, or for a company, with great
ti,lflity, but he may not make that business his own.
(Hear, hear.) Mr. Ellison has not on), served the
association with the greatest probity and faithfulness,
but he has made it his own— (cheers)—has fostered it
with a father's care, and watched its interests as those of
his own pet child. (Loud cheers.) When it has been
assailed by artful designers ore the one hand, or cunning
swindlers on the other. So great has been his anxiety to
prevent the intended fraud, and thus save the pecuniary
sources of the insti'ution, that again and again he has
spontaneously offered to fly on the wings of vapour
(laughter) to the remotest parts of England and North
Britain, and when his freewill-offering has been accepted,
neither the consideration of his health nor the comforts
of home has abated his ardour. (Cheers.) After a few
additional complimentary words, the learned gentleman
proposed, " The President and Officers of the Society,"
which was heartily received by the company.
The President (Nile Davies) then thanked the company
for the hearty manner they had drank his health: They
had thought proper to elect him as president of the
society from the commencement, but there was no com-
mendation due to him more than to any other gentle.
man on the board. (Hoar, hear.) They had done their
duty on the principles of equity and uprightness, and
protected the interests of the large association —(hear,
hear) —and yet had not given any of the customers the
least unnecessary trouble. (Hear, hear.) He doubted
not that the new board of directors of the new company
would be actuated by the same spirit, and that that
joint stock company would follow up its usefulness and
prasperity, and far exceed its predecessor. (Cheers.)
He thanked them for the honour they had done him, and
begged to introduce to them a gentleman of undoubted
eloquence, who belonged to the board of directors.
(Cheers.) He called on
Mr. Camidge, who then spoke as follows :—He said, Mr
President and gentlemen, it is interesting to review the
way in which this company has attained its present satis..
factory position. It is not of mushroom growth. To my
mind there is always something suspicious when an infant
company announces its great success, its brilliant pros—
pects, and its large dividends. I feel a desire to peep
behind the scenes, to search behind the background,
and to investigate its internal working, thinking that if
this were done, the lustre of its professions would appear
very much tarnished; hut this is not the case with the
company whose success we have this day met to celebrate.
(Hear, hear.) It has gradually developed itself step by
step, and year by year ; it has progressed until it has
attained its present large proportions. (Hear, hear.) I
am aware that a widespread prejudice exists against all
loan societies ; and, indeed, the way in which some of them
have been managed has tended to excite and confirm that
prejudice. We have never broke faith with an applicant.
We have never held out. the bait of a loan without being
able to advance the cash at the specified time. And we
have always endeavoured to treat with the utmost
leniency those who have been unavoidably brought into
unfortunate circumstances. Some persons have expressed,
their wonder how we can pay a dividend of 10 per cent.
besides adding to the reserve fund, when we profess to
charge only 5 per cent., and they are ready to say, " you
cannot do this : you endeavour, in some way, to make
the poor borrower ' pay through the nose." Now, I
must beg to say that this opinion arises from a complete
misapprehension of the working of the company. (Hear.)
Allow me to explain this matter. A man borrows 4100,
to be paid hack in weekly instalments of two pounds.
Well, in order to ascertain what the money costs him,
he first sets down the .45, deducted at the time he
receives his cash ; then at the end of one week he pays back
2, and charges the interest of that amount, at the same
rate as he has paid for this money ; and thus he proceeds
week after week, until the whole is paid. Now, 'if he
add up the items of interest he will find that the whole
amounts to about £7 8s 9J, or rather less than 7id per
cent. Now, will ally person take into account the state
of the money-market for the last few years and say that
this charge is an unreasonable one? Hundreds who have
tried it say no; but, on the other hand, we can point to
many, who, during the temporary embarrassment, have
availed themselves of the advantages offered by this
company, who have thereby been enabled to overcome
their difficulties, have afterwards become prosperous
traders, and are now,occupyine• a repectable position in
the trading communities. (Cheers.) It must, indeed, be
to you, gentlemen, who are present here, and indeed to all
the shareholders, a source of gratification to go over the
reports of the last ten years, to see the gradual but steady
increase of one particular item—l now allude to the
reserve fund. (Hear, hear.) This fund was com-
paratively small for the first two or three years;
but the directors were more and more convinced of
its importance, and hence they have done all in their
power to add to it, and it reaches at the present m^ment
to nearly .47,000. But excellent as is our present portion,
I believe we shall yet see it going on improving. Let us,
in the future, go on in the even tenor of our way, let us
keep at the helm the same gentleman to whom you intend
this night to present a testimonial ; let us keep the integ-
rity, the straightforwardness, the impartiality of the
father ; let us retain the untiring zeal and keen perception
of the son; let us elect men as directors who know their
duty, and I belive we shall yet see the day when the
reserve fund shall be 25 per cent. of the working capital,
and when the shareholders shall receive an uniform
dividend of 125 or 15 per cent. (Loud cheers.
Mr. Upton then, in, appropriate terms, proposed the
" Lally Shareholders of the Company," and said out of
135 shareholders 35 were ladies. (Loud cheers.)
Dr. Burrowes, in a humourous and happy speech,
returned thanks, and also Mr. Hime, who said there was
no wonder the company was so prosperous when there
were so many ladies shareholders hi it. (Cheers.)
The Chairman then, in complimentary and appropriate
terms, proposed " The Health of Mr. Ellison," and said
the directors had resolved to present him with a tea
service, and a purse of gold value .4'125, as a token of his
long and faithful services to the company. After a hand-
some eulogium on the recipient, he proposed Mr. Ellison's
health, and that of Mrs. Ellison, which was duly honoured.
The Chairman then presented the service of plate and
the purse to Mr. Ellison. The tea service bore the follow—
ing inscriction :—",Presented, with a purse of gold,
amounting together to £125, to Mr. Christopher Ellison,
by the Liverpool Adelphi Loan Association, in testimony
of hiS Valuable services as their secretary during the past
ten years. August 5, 1856."
Mr : 'Ellison, who seemed much affected by the kindness
is.ildWnlaine after a few introductory remarks, spoke as
1611-Gicill—eehe-said : The boon which you, on behalf of the
.duinefeceigto:adlynel shareholders of the Liverpool Adelphi Loan
AR.soqi4l44"' have done me the honour of presenting me,
exeixeurnly: breast emotions of sincere pleasure and of
gratitude, which I cannot describe ; suffice it to say that
while rlook at. it in a pecuniary point of view, I feel
thankful. But when, from the inscription
inserted thereon, I learn that it is given as an expression
of your satisfaction with my services as your secretary—
it is this which, in my estimation, enhances its value far
above its pecuniary consideration. (Hear, hear.) Mr.
Chairman and gentlemen, I receive:this, your testimonial,
with the greater pleasure because lI regard it not as the
result of a transient momentary impulse, but as a tangible
demonstration of the approval and confidence with which
you favoured me at the formation, and also during the
' entire period of its ten years operation. (Hear, hear.) It