The Sun.
London, England, 1855-07-17 00:00:00

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lowing gentlemen, who retire from the direction arid
audit in aircordance with the terms of tho deed of settle-
ment, being eligible for re-election, be re-elected, viz. Directors—Thomas Nathaniel Nathaniel Baker, Esq. ; the Rev.
William Bean ; J,:me3 Firby, Esq. Auditors—Charles
I/. Cooke, E-q. ;. William Taylor, Esq." Ile-thought
that any arguments on his part to induce them t 6 re-
elect the gentlemen he had jest named would be super-
ituous, and that it would he impossible to find three gen-
tlemen in the city of London better fitted to fulfil the
office of directors in this company: He lead great plea-
sure in moving the resolution he had just read.
Mr. NICHOLAS entirely concurred in the observa,tions
of the last speaker ; and he thought that those gentle.
men who had borne the heat and labour of the day
should be re-elected unanimously. (Loud cheers.)
The CHAIRMAN then put the resolution to ,the meet-
ing, and it was carried amidst general applause.
Mr. W. TAYLOR said the resolution he intended to
move was one was quite sure that would "meet with
their approbation, and also one that would be a source of
very greet pleaanre. It was One calculated.to cheer the
minds of all present. (Cheers.) And was as follows
viz , "That interest at the rate of 6 per ceuh. per annum
be paid on the paid up-capital of the company." (Loud
cheers.) Ho must say the company had got on much
better than he could have anticipated from the short
time it had been working, and its progress had exceeded
his most sanguine expectations. With these few observa-
tions he begged, as one of the auditors of the company,
to move the resolution he had just read:
The Rev. 3. GEORGE cordially seconded the resolu-
tion. He thought they did well in establishing com-
panies like the present, as they were calculated to do a
vast amount of good. (Cheers.) Considering all that
had, been done he would not look back on the losses,
but he looked forward to the success they were sure of
meeting with—(cheers)—but they must use the means,
and we were repeatedly told in a very good book to use
means to secure the end. He had great confidence in
the executive of this Company, and he placed the great-
est faith in this institution, as it wa3. one -based aeon
equitable principles. (Cheers.) The men who adminis-
tered its affairs were men of discretion and discernment
—(cheers)—and all he wanted his brother shareholders
to do was to wait patiently—(hear)—and not to be in a
hurry, as ultimate success was certain. (Cheers.) He
felt sure there was a law in compensation that always
brought about its results. Their losses would be re-
covered and something more, great profit would be in-
creased ; and, therefore, let us not only go boldly to
work, but let us go patiently to work. (Loud cheers )
They had a beard of directors, and a manager who could
not be exceeded, if equalled. (Cheers.) He begged
again most cerdial'y to second the resolution.
The CHAIRMAN then put the resolution to the meeting,
and declared it carried unanimously.
Mr. FLEMING (the chairman of the Southampton
Board) said the resolution confided to him was to the
following effect :—" That remuneration be voted for the
expenses of the direction of the company in town and
country during the past year free of income tax." (Loud
cheers.) He was aware of the number of directors in
London and Bath, but not in other places, and, there-
fore, he did not think that the sum proposed was too
large. He hoped they would not imitate other offices
and starve the directors. (Laughter.) He would neither
starve directors nor would he starve a young business.
At his Local Board he had officers who would do
honour to any company, and he thought the money pro-
posed to be voted would produce the best results. He
had great pleasure in informing the shareholders present
that they were doing an excellent business at Southamp-
ton, and, although they started late, they were doing
everything in their power to further increase the success
he had already mentioned. The board, he assured them,
worked together harmoniously and in happy concert with
the London directors. (Cheers.)
Mr. R. HODSON begged to second this resolution. He
felt sure that it would not only be bad judgment, but
false economy not to pay their directors well. (Hear,
hear.) He believed that few of the directors, if any,
could say that at the end of a year they were money in
pocket. The sum they received was generally spent in
the service of the company, or in travelling expenses ;
and, therefore, he thought the sum moderate, and had
great pleasure in seconding the resolution.
The CHAIRMAN put the resolution to the meeting, and
declared it carried unanimously.
Mr. DODD said the resolution he had to move was as
follows :—" That the thanks of the shareholders be ten-
dered to the directors for their past services, and that
the thanks of the shareholders be also tendered to the
auditors of the company." That their losses had not
been greater depended upon their directors, who exer-
cised a wise discretion. He felt sure that their present
position would be maintained, and that they would go on
prosperously. One thing he felt quite sure of—and that
was that the direction would do all in their power for the
advancement of the company, and that they would do it
wisely. (Cheers.)
Mr. COOKE having seconded the resolution, and ex-
pressed the greatest confidence in the direction, manage-
ment, and prosperity of the company, it was put to the
meeting, and, in like manner as the preceding ones,
carried unanimously.
The CHAIRMAN, on behalf of himself and his brother
directors, returned thanks for the compliment just paid
them, Rnd begged to say that all the zeal and energy
they possessed .would be used for the advancement and
prosperity of the company. • (Cheers.)
The Rev. W. BEAN had very. great pleasure in moving
the resolution that had been placed in his hand. It was
.—" That the best thanks of the shareholders be tendered
to IL B. Sheridan, Esq., and the other officers of the
company. In the first place, he had to thank them for
the re-election of the retiring directors. It was a proof
that the board possessed the entire confidence of the
shareholders. In reference to their respected manager,
he thought it would be superfluous for him to say any-
thing in his praise. They all know him, and appreciated
him as his great talents deserved. He thought they
were highly favoured in possessing such a manager—
(loud cheers)—one whose whole thought was how to ex-
tend and improve the business of the company. He (the
Rev. Mr. Bean) thought, looking to the future, much
remained yet to be done • and the sentiments they had
heard that day were calculated to produce the very best
possible results, namely, of bringing to the office a largo
amount of new business, and consequently a great in-
crease of profit; (Cheers.) He hoped the business
would eventually realise large profits. From the know-
ledge he possessed of the other offices, he begged to
assure them that the position of their own was far better
than he anticipated ; and when they met again next year
he had not the slightest doubt but that he should have
to congratulate them on the possession of a surplus far
greater than ever was anticipated. (Cheers.) Now,
with respect to the officers of the company. From his
knowledge of all the officers he had the greatest confi-
dence in them, and he rejoiced to say that all of them
had done their duty to the utmost ; and when they pos-
sessed the services of such gentlemen, all animated with
but one desire—the extension of the business of the com-
pany—he thought they ought to be satisfied. (Cheers.)
All who had the pleasure to know Mr. Sheridan knew
that he would put his shoulder to the wheel, but he
knew more—he knew he'd move it. (Loud cheers.)
Mr. FITCH said it afforded him unalloyed pleasure to
second the resolution that had just been proposed by
the Rev. Mr. Bean.

The CHAIRMAN then submitted the resolution to the
meeting, and it was enthusiastically carried amidst loud
applause.

Mr. SHERIDAN, in rising to return thanks, was
greeted with renewed applause. He said he begged to
thank the shareholders for the vote of thanks that had
been so cordially proposed, and so unanimously passed.
(Cheers.) Ile felt it was expected that the manager should
say something with reference to the events of the year
which was closed. The gentlemen who had, however,
addressed the meeting—Mr. Fleming and others—had
so well adverted to the affairs of the company as to leave
very little to be said by the manager. (Hear.) He
might, however, say that the first year of a company's
operation was, of course, the most arduous one. They
had to prepare their premises, to appoint their agents,
to establish boards, and in every way to spread zsbroad
those allurements that were to engage the attention of
the public, and to result in business to the company ;
and although a great deal of this preliminary work had
been spared from the circumstance, as was well known, of
the purchase by this company of the business of the
old Times Fire Company, still a great deal yet remained
to be done in order to perfect, to extend, and to increase
' the branches and agents of the company, and to intro-
duce to the public properly and effectually the assurance
of plate glass. Ho was happy to say 615 agents had
been appointed. It must also be remembered that a
great deal of time had been occupied during the first
year in filling up the share list of the company ; in other
words, in laying the superstructure upon which the in-
stitution was to stand, and therefore it was that he felt
he might really congratulate the shareholders upon the
amount of business that bad been done, notwithstanding
the matters to which he had referred, and which must
necessarily divert their attention from the task of obtain-
ing business ; yet they would find few offices with an
income of 6,30. E. 3s. 2d. per annum at the end of the
first year. 'With reference to the expenditure the French
were considerably before us, for by their system an agent
received the whole of the first two years' premituris:
as a remuneration for the business he breught—tih,aute,
to say, if the agent brought them one year'sf prisat !
but
the company not only made him a present
which
thetatl t
ri..
took from its funds a similar sum, with I_
sented him, thus giving him more than thweyb
received. It was true that there was a contract
any to
the comp ,
limited sense between tho assured and
continuo to assure with
in this
(Ntlhri.s
the effect that the assured should conrsi
or so long as he
ba d aianl lya
the company for a period of five
disinclined, or left
assured at all ; but there wa,s,
continue to assure supposing
p housekeeping, and SO the
he
oo
wereiymewaer to compel him to
the neighbourhood, or g
risukns.usNuaolw
whether it was to greater fore-
Sheridan) did not knrs;e,
French offices necessaorwilyavreainl-gseat
or to superior integrity that he
sight, to greater courage,
could attribute the proceedings,,r_ces; l
of the French Ab •• he only knew
country,
board of directorscould found
, England no
,h to lay before its pr,prietary a first year's
bold enough
balance sheet (Laughter.)
But based on the same principles. (L
But certain it was that the game institutions, which to
our senses seemed so reckless, were the richest institu-
tions: of the kind ill Europe--that their invested capitals
were emoraous, very few - offices, iliViirm less thaw,
__.._

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f,rt--
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francs, or one millio;
kii over vidth the buil( .
he stranger -was oonstaie _siting with the . an-
Int on &neat whitotis ~tlhat this waitlic pro.
one pr
.ether g tkke isiShesiege offices. ,He itien.
ecl these facts for two reasons—the One to-give in-
rseil enceuridettienel'aild!Wcitiess to' their plans of
ation.;-and the other because it was with these in-
tions' rich and powerfu! as they were, that the qirec.
of the Timi,'s Company were at that moment nego-
'ng contracts for a portion of that business by way
e-aSsurance, Whieh ilea been so itirOfitili/e to the
institutions. (Loud cleer..) er. 'l'. N. tits tad Much satisfaction' in Moving
the esolution committed to his care. He thought their
best thanks, individually apd eollectiVe!y, were due to
the gentlemen mentioned in the ie,:olutioe. 'lt'was as
followS-TL--"That.the best thanks of the shareholders
are due and are hereby given to the agents for their un-
tiring zeal in the service of the company."
2.1 r. WILLIAMS begged leave most cordially to second
the resolution they had just ~heard read. Other compa.
nies ,no doubt. possessed good agents, but ho did not
think that other.offices posseesed so many good agents
as the Times Fire Assuranee, 'Company. (Loud -cheers.)
Tip resolution, on being submitted to the meeting by
the chairman, was carried unanimously.
Mr. GARRETT said the rest iution that he had been
called upon to move was one that gave him much plea-
sure. It was, " That the best thanks of theehareholders
be teedei•ed to the surveyors of the company for their
past Services."
Mr. J. C. SPENCE raid .he thought it was hard that
he should be called upon to second this resolution, after
the fact that 'the company had declined to sieure his
property. (Laughter and cheers.) However, it turned
out afterwards that • the surveyors were right. He
begged to second the resolution, and that most cordially.
(Cheers.)
Carried unanimously. •
Mi. HOPCROFT here begged, on behalf of the agents
of the company—aprevious resolution—to return thanks.
He knew many of them, and they were gentlemen of
great ability • and perseverance. Among their agents
were to be found gentlemen who were not working for
the pence that were allowed them, but gentlemen of
large 'property and fortune. Represented as this com-
pany was, it could not fail in getting'a very large amount
of businesl. (Laud cheers.) On behalf of
,the agents
and himself he again begged to return thanks for the
compliment that had been paid them.
Mr. WARREN, after a high compliment to the boards
of the company at Bath, Southampton, and G:asgoiv,
moved "That the best thanks of the shareholders are
due,- awl are:hereby given, to.the directors of the proe
vinzial boards." (Cheers.)
Mr. Jeessoiv, of .'N'troolvvich, 'had great pleasure in seconding.the resolution just read. In establishing their
new company they had dune nothing to excite the old
companies. They had got the field, and it was at all
times difficult to compete with them, but as to the sue.
cess that awaited this company he bad no doubt. (Loud
cheers.) In his district he had received promises of the
most encouraging description.
Mr. J. W. FLEMING wsuld occupy theirattention but for
a very short time, but he could not allow so flattering a
mark of approval to pass without remit k. The board
of directors in the provinces, he was sure, would feel
proud at the manner in which their services had been
recognised. The board of directors at Southampton, he
knew, would feel especially flattered. 'With respect to
losses, he begged to say that in his district they had but
two losses, and they together only amounted to 201..--
(cheers)—so that no bad business yet could be said to
have come from Southampton. (Hear, bear, and cheers.)
He highly approved of having boards of directors in the
provinces, as he knew them to be highly beneficial, and
by means of which they got business which otherwise
would be lost to them.
The Rev. J. THORESBY then proposed a vote of thanks
to the chairman fur the able manner in which he had
conducted their proceedings. The rev. gentleman then
called upon all those present who approved of a vote of
thanks to stand up.
The whole of the gentlemen present then rose from
their seats, and the resolution having been put, it was
carried in a manner both highly characteristic and en-
thusiastic.
The CHAIRMAN having acknowledged the compliment
in very flattering terms,
The proceedings, which throughout had been of the
most satisfactory description, terminated.

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NAVAL AND MILITARY INTELLIGENCE.

The paddle-wheel steam-sloop Gorgon, 6, Commander
R. B. Crawford, arrived at Spithead yesterday morning,
from the East. She left Spithead on the 17th of May
with the three steam gunboats, Clinker, Jasper, and
Cracker. The Malacca, 17, Captain Farquhar ; the
Odin, 16, Captain Willcox ; and Rosamond, 6, Com-
mander Crofton, followed, the former with three gun-
boats, the other two with three mortar-vessels each, in
convoy. The Gorgon was the only one of the squadron
in charge that made Malta without accident.
The Fire Queen; steam-yacht, Mr. Paul, master, R.N.,
commanding, left Portsmouth harbour at a quarter past
six last evening, with Vice-Admiral Sir Thomas Coch-
rane, K.C.8., and Major-General Breton, the Lieut.-
Governor, for Osborne, to visit her Majesty.
A number of artificers were sent from Portsmouth
dockyard yesterday to work upon her Majesty's new
yacht, the late cruises having brought out a few trifling
defects.

The Ripon, steam transport, left Spithead for South•
ampton last night soon after 7 o'clock.

We learn by electrie telegraph from Portsmouth that
the Magdaline, steam transport, arrived at Spithead
yesterday evening from the East. She left Malta on
the 6th at
_6 p.m.

Her Majesty's screw steam-ship Himalaya, Captain
Priest, will leave Southampton on Thursday nest for
Devonport and Dublin, to embark cavalry for convey-
ance to the Crimea. •
The Zebra, 211, transport-screw, is taking in shot
and shell at Woolwich, and is to go down to Greenhithe
about Wednesday to receive her ammunition for Malta
and the Crimea.
The Indiana steam-transport, 2,356 tons' burden,
Captain Lambert, the property of the General Screw
Steam Navigation Company, which had arrived in
Kingstown on the previous day, took on board on Sa-
turday draughts of horses and mein for the 4th Dragoon
Guards and the 6th Enniskillen Dragoons.