The Sun.
London, England, 1855-06-09 00:00:00

THE SUN', LONDON, SAT URDA Y EVENING, J UNE 9 1855.

fraud or intimidation (Anglice bullying) as well as
in courage when needed. The annexation of
Texas, indeed, the whole course of American pro-
cedure with Mexico, equals anything ever done by
Russia around the Black Sea or on either bank of
the Danube, England can, however, never con-
sent to learn lessons on freedom from the great
Slave Republic.' From a State, the condition, of
whose existence is, that a man, a fellow-creature
may be kidnapped all the Union over, that a citi-
zen who shields the fugitive from bondage shall
be ruinously fined awl imprisoned, and that a
judge on ex parte evidence, no jury intervening;
shall receive double fee for sending-back to slavery
the man who has hazarded all for freedom 1 No
wonder such a people sympathise more with the
O&M and his serfs than with the Allied Monarchs
and their freemen.

But, even in the purely commercial point of view,
does character go for nothing ? How is it that,
with all their enterprise, few American houses en-
joy the reputation possessed by thousands of Eng-
lish firms ?—that English capital is nearly always
so much cheaper than American ? How is it that
the dread of " repudiation " has grown up among
otherwise willing lenders on this side the water ?
And how is it that the great Free-traders have
been unable, either by their arguments or their
example, to gain the ear of America ? Mr.
BRIGHT'S pattern land for newspapers, commerce,
and we know not what besides, is Protectionist
still to the uttermost of her power. ' Liberal
feeling in that line of policy she has not a touch of.
As to the weight which the War is to lay on us in
the race with America, Mr. BRIGHT'S policy is the
reverse of ours. We say let Russia be made to
boar all that, weight,. We believe, anureuver, that
every great commercial State has lost her com-
merce when she has lost her military prestige.
From the times of Carthage and Athens to these of
Holland and Venice this has always been the case.
We believe that a Manchester school peace would
be more injurious ultimately to Manchester than
even 100 millions more of debt.

Notwithstanding the increasing din of our war-
like preparations, and the intense interest which
attaches to every movement of our noble army,
it is our pride and boast that we still have time
to attend to matters which affect the progress,
morally and commercially, of our island commu-
nity. The " Honesty," or " Fidelity of Trust,"
of the rising and the risen generation, is of the
first importance to the Public, as a question in-
volving a great commercial as well as a highly
moral principle ; and we have much pleasure,
therefore, in drawing attention to the Report of
" The Times Life and Guarantee Assurance
Company," which appears in another part of this
impression, and by which Report it will be seen
that, although there is considerable room for im-
provement with reference to Fidelity in general,
still, that the first five years' working
of the company has enabled the Directors to pay
a bonus upon the shares and upon policies. We
have regarded the progress of these guarantee
companies with considerable interest, inasmuch as
principle new in the history of assurance, and
one to which the doctrine of chances had never
been before applied, was involved. " Canst thou
administer to a mind diseased," demands the
despotic "Thane". These companies reply that
they " can supply the antidote ;" Ind we sincerely
hope that they may all continue to prosper in
their arduous, but useful career. The Times As-
surance Company seems to have been unusually
successful, and we refer our readers to their
Report.

LATEST NEWS-

ATTACK AND CAPTURE

THE WHITE WORK

AND

TEE TIMES LIFE ASSURANCE AND
GUARANTEE COMPANY.

The annual general meeting of the proprietors of this
company was held on Thursday, June 7, 1855 ; at the
offices, 32, Ludgate Hill, Alexander Webber, Esq.,
having been moved into the chair.
The advertisement and circular convening the meeting
having been read by the manager, Henry Brinsley
Sheridan, Esq., the report of the directors for the year
was then read, of which the following is an abstract :
" During the year ending the Ist inst., the company re-
ceived 2,226 proposals for the insurance of 583,465!., and
calculated toproduce an annual income of 10,772/. 15s. 10d.,
and completed and issued 1,612 policies, covering 393,5151.,
and yielding in premiums 7,0121. Bs. 10d. per annum.
Of the proposals the directora rejected 424, for the in-
surance of 141,9551., with an annual amount of pre-
miums to the extent of 2,9581. ls. 2cl. Of those which
they accepted, 111 were yet unpaid for. These insured
25,1451., at an income of 4681. 4s. sd. ; and 79 for
the insurance of 22,8501., with a premium income of
3331. lls. 5 d., were still under consideration. The
directors drew attention to the large amount of busi-
ness declined for two. reasons—the one that, notwithstand-
ing the care displayed in the selection of risks, the losses
during the year, from claims in both departments, had
been unusually large ; and the other, that the amount
of business declined could not have been obtained, and
all the forms and enquiries connected therewith com-
pleted. without absorbing a large proportion of the
expenditure for the year, inasmuch as, had it been
accepted, it would have increased the new business
by nearly one-half the present amount. Fifty per
cent. of the claims made during the year. had arisen
in the guarantee department, and could be traced to
causes which might now cease to affect that department ;
and the directors, therefore, anticipated that the corn
pany would be more fortunate in the year ensuing. The
losses during the year had been—in the life department,
4,590/. ; and, in the guarantee, 4,12 i/. 2s. 6d. The direc-
tors also drew attention to the circumstance which was
probably peculiar to the business of a company which
united life and guarantee assurance, viz., that the policies
which had lapsed up to the Ist of June, 1855, represented
in annual premiums the sum of 7,5961 Os. 51, a sum
amounting to more than two-thirds of the paid-up ca-
pital of the company. They confidently anticipated that
inasmuch as these lapsed policies were principally incident
to the guarantee business, in consequence of the changes
and vicissitudes which charaoterised commercial situations,
they would eventually constitute a large and legitimate
source of profit. By the directors' last report, it appeared
that the total amount of business done by the company up
to that date, without deducting lapsed policies, had been
as follows, viz. :

I.vv. lanuuwl Innoma.
Number of policies issued by the
company up to 30th June, 1851 5,301 £23,086 2 0
Add to that the business of the
present year 1,612

No. 6,913 £30,098 10 10
It will thus be seen that in six years the company had
issued 6,913 policies, yielding an annual income of 30,0981.
10s. 10d., but from which must now be deducted the ascer-
tained lapsed policies which would give the present an-
nual income 'z2,502/. 103. scl. From a valuation of the
business of the company feir the last five years, there ap-
peared a balance iu its favour to the amount of 37,4671.
16s. sd. Of this sum 33,0341. 7s. 4d. had been set aside as
a reserve.fund for future profit and expenses. The sum
remaining, viz., 4,4331. 9s. id., was the amount that
might be distributed amongst the policy and shareholders.
The above valuation had been made upon data taken
from the books of the company, by Jenkin Jones,
Esq., F.1.A., the actuary to the Rock, the National
Mercantile, and other assurance offices. The directors did
not propose to distribute the whole of this sum of 4,4331.
9s. Id., but recommended that a bonus of one per cent.
per annum be declared upon all life policies entitled to a
division of profits; and further recommended that a bonus
of 2s. 6d. per share be declared upon the capital stock of
the company. Although the directors considered that, they
might fairly recommend a larger bonus, still it had been
thought the most prudent course to divide but a compara-
tively small sum this year, in order that the probabilities
might be in favour of future bonuses being progressively
larger in amount. At the same time they begged to inform
the shareholders that the amount of profits thus divided
was fully equal to the average of the first bonuses, and,
consequently, equal in amount to those declarations of
profits made by offices at their first division that had since
become the most prosperous institutions of the day. In
the guarantee department, as no profit had been made,
there would, of course, be none to divide amongst
the holders of guarantee policies. The bonus upon the
life policies the directors recommended should at this
declaration, be added to the policies, the shareholders
at the same time giving no pledge that the present
mode of division should be a precedent for the next,
or any future division of profits ; and that the bonus
upon the shares should be taken as so much paid-
up capital. In recommending the above course to be taken,
they felt it their duty to remark that, in the opinion of the
consulting actuary, these bonuses might be paid in cash with
the greatest safety should the shareholders demand it ;
although the directors were unanimously of opinion that
the mode before suggested would be felt by all persons to be
the most prudent and expedient. In congratulating the
shareholders upon the result of the first five years of the
company's operations, they ventured to express a hope that
the same prosperity might attend the nest quinquennial
phase of the company's history, and would assure the share-
holders that the expenditure should be carefully watched,
and a reduction made wherever it could be safely effected.
The directors, in conclusion, recommended that interest at
the rate of 51. per cent, per annum, clear of income tax, be
paid upon the capital of the company for the past year,
and begged, as an illustration of their duties, to draw at •
tention to the fact that, although :the business completed
during the past year,amounted to the sum of 393,515/ , and
produced an annual income of 7,012/. Bs. 10,1., yet the busi-
ness offered to the company, and passing through the llamas
of the directors, amounts :. to the large sum of 543,4655.,
and would have produced an annual income of 10,772/. se.
10d."

The report was received with prolonged applause.
The CHAIMIAN then rose for the purpo?e of moving
the following reeolutioe :—" That the report now ceo-i,
• embracing as it does the last six years, and balance
sheets for the last six years therein referred to, he ap-
proved and adopte,l."' He said : Ge2ntlemen,---It ie
almost unnecesqary for tee to remark that the venr we
have just paved through has been one of singuler diffi-
eulty, nut only in the coraincrciel world, but to the pub-
ic generally, in consequence of the war—which, IioWCV:r
just and glorious it may be, has undoubtedly been the
means of creatieg a great deal of pecuniary einharrns•
went throughout the country ; and most persona, in the
mercantile. wcild eepecialiy, and all those with fixed in-
comes, must have felt that te be obliged to go to war in
a commercial country like ours is a disaster of the
greatest possible magnituele. Having made these few
preliminary remarks, I may. I think, safely congratu-
late the shareholders on the business we lave trans-
;toted during the last twelve months. • I think, in-
deed, it is a great thing- for rue to he enabled to say
that we have in the short space of one year aniasse.d an
income of 7,000/. It may he observed, in the next
place, that we have declined more than the ordinary
number of policies ; std I wish to call year particular
attention to this fact as indicating that the company are
rausacting business on the best possible principle. With
regard to this large number—amounting to about one-
fifth of the aggregate amount of policies offered
us respecting sc much business, we have thought it
safer to reject what might appear to be good rather than
run any injudicious risks. With regard to losses, I may
sly there is scarcely an insurance office which has not
found it necessary to offer some apologetic explanations
upon the number of claims falling in upon them. It is
very natural in a .period of commercial stagnation that
life assurance generally should have been affected by it ;
and it is a well known fact that they have all suffered to
a greater or loss-extent. In some cases, indeed, where
their losses hare been calculated at 30,000/. on the year
—and these matters, as you are, no doubt, all aware, can
usually be calculated to a nicety—they have amounted to
as much as 50 per cent. more. Our losses have been
heavier than we expected, but you will find that they
are below the average. I cannot leave this part of the
subject without, in justice to our medical officers, stating
the singular fact that of the number of losses which have
fallen in one half have consisted of re-assurances from
other offices. Another remarkable circumstance also
occurs to me on this point which I may as well mention ;
and it is that the losses on the guarantee department
have been very large—in fact they have amounted to very
nearly as much as those in the life department. The air
—if I may be allowed the expression—wSuld appear in
this country, from various circumstances which it would
be tedious to detail, to have become impregnated with
dishonesty, and to have produced the result I have pointed
out. This must be the case when persons do not know
how long they may retain the situations they hold.
Commercial affairs are not so prosperous as they were,
and when a man who has large sums of money con-
stantly passing through his hands, finds that he cannot
reckon upon his present position for any certain length of
time the temptation too often unfortunately becomes too
.great for his resistance. With regard to the guarantee
business, I have repeatedly confessed my opinion that it
is a good business if conducted upon a principle which
would give us something like proper data to guide us.
Up to the present time I maintain our data have been
found to be good. We have data from our own books
which tell us' distinctly that the rates aro low.
I find in the report an extraordinary statement, to the
effect that the lapsed policies alone amount to 7,5901.
This is a startling fact if we were not to analyse it ; and
when we do we find that the greater portion of these
lapsed policies arise in the guarantee department. It
will also be observed that during the six years of our
existence, in respect of which it should be stated I have
just been speaking when I referred to the lapsed policies
—during these six years very nearly 7,000 policies
have been issued, which would have produced an
annual income of 30,0001. and upwards, but owing
to these lapsed policies our income has been reduced to,
say, 23,0001. However, it strikes me, on looking
through our report from beginning to end, that there is
much upon which we may congratulate ourselves. I do
not know that I need detain you much longer, with any
observations of mine, except to call your attention to
the highly satisfactory statements contained in the lat-
ter portion of the report before you. Although we have
been a little unfortunate in an amount of claims in the
Guarantee and Life departments, these appear to have
be era principally made within the
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balance of more than 37,0001. in favour of the company.
The Directors feel that it is necessary for them to be
very careful of this large sum, and they have, therefore,
proposed that somewhat more than 33,0001. of it should
be set aside as a reserve fund, the remainder being ap-
propriated to bonuses for distribution amongst the
policy and shareholders. It is not, however, intended
to adjudge this remainder amongst all policy holders,
because that would be very unfair, as it would
be giving a five years bonus to those who had
only held policies for three. Turning from
the subject on which I have hitherto been dwelling, and
irrespective of personal considerations, we are met Lere

on this occaiion to promote the interests of the institu-
tion, and all institutions generally of a similar character.
With regard to life assurance generally, we all know it
is not a very difficult matter to induce a man to insure
his life if be has a proper feeling and proper affection for
his kindred and family ; but it is too frequently neces-
sary that he should be spoken to on the suLject to make
him adopt such a course. I would urgently recommend
you, therefore, to make life assurance and its principles
known throughout the circle of your respective acquaint'
ante. I don't mean with a view in particular to extending
the business of this office, though, of course, we all
have its interest mainly at heart—l mean that you
should endeavour to "learn the luxury of doing good,"
and of promoting the welfare of your fellow-creatures
by making known as freely as your opportunities permit
the inestimable blessing of life assurance. I hope if
these suggestions are attended to, to have the pleasure
of meeting you on future occasions with more smiling
faces, and that future reports will be more gratifying
still than the one now before us.

Mr. C. H. CooKE, in seconding the motion,
said, . that after the very able remarks of the
chairman he had scarcely anything to say. He
must, however, observe that it was very gratify-
ing to find that, whilst other institutions. had compa-
ratively retrograded, instead of advanced, during the past
year, the Times Office continued to progress ; and this
he thought was attributable in a great measure to the
zeal, ability, and energy displayed by the management.
The motion was then put and agreed to unanimously.
Mr. WHITE said he had much pleasure in moving
" That the following gentlemen, who retire from the
"direction, in accordance with the terms of the deed of
settlement, being eligible for re-election, be re-elected
accordingly, viz.:—James Wyld, Esq., Geo. Cooper,
Esq., and the Rev. John Wood."
Mr. COMPTON seconded the motion, which was carried
by acclamation.
Mr. F. SQUIRE then moved the re-election of the fol-
lowing gentlemen, who retire from the audit, viz.
H. B. Rye, Esq., and Thos. Charles Blundell, Esq.
Mr. NICHOLAS most cordially seconded the resolu-
tion, which was approved. •
Mr. H. E. RYA, next said he had great pleasure in
moving " that interest, at the rate of 5 per cent. per
annum, free of income tax, he paid upon the paid-up
capital of the company ;" observing, at the same time,
• that he felt assured, with the indefatigable zeal, energy,
and ability of their worthy and able manager, Mr.
Sheridan, in connection with the, directors, that they
should still continue to progress, and that with the li-
berality of the company but a very few years would
elapse before the Tune. Life Assurance Company would
stand second to none.

Mr. R. T. DEERE seconded the motion, which was
forthwith agreed to.
Mr. S. G. GRADY, in moving "a remuneration to the
directors for the past year," observed that he could not
submitthat resolution forthe approval of the shareholders
without 'expressing his own opinion, in which they
would no doubt concur, that this sum was but a very
inadequate remuneration to those gentlemen who had
devoted so much of their valuable time and energies to
the advancement of the institution' during the past year.
However, the directors had not asked for more,
and the highest compliment they as shareholders could
pay to those gentlemen was to comply with this modest
request in a ready and cordial manner. It was to him,
as it must be to all of them, a source of great pleasure
and gratification to observe the prosperous position of
the institution at that time, and he thought it was but
due to the directors, in voting that sum to their use, to
express to them their sincere gratitude for their able and
efficient management of its affairs, and for their exer-
tions in conducting it to its present flourishing condition.
Mr. CHANDLER, in seconding the motion, said he had
jotted down several questions he intended to have put
to the directors, but the observations of the chairman,
and the balance-sheet and able report, had removed the
necessity of his doing so, and had not only satisfied
him as to the manner in which the society had been con-
ducted, but had also proved to him that it was in a pros
perous state. He was besides fully satisfied that they
could not expect gentlemen to devote so much of their
time and attention to the institution without some recog-
nition of those services, and he therefore most cordially
approved of the voting of the sum of money mentioned
in the resolution, and be only regretted it was not a
larger one. He trusted that the institution, under such
direction, would continue to prosper.
The motion was then put to the meeting by its pro-
poser (Mr. Grady), and was approved of amidst applause.
The Rev. J. GEORGE next mover', " That a bonus be
declared out of the profits of the first five years at the
rate of one per cent. per annum upon all policies effected
prior to the 30th Jute, 1852, and that the same be added
to the policies; and that a bonus, out of the same fund,
of 2s. 6d. per share be declared and paid upon the capital
stock of the company, and that the same be ticken as so
much paid-up capital." He did not, he observed, ke-
tend to commercial talent, or the talent of calculation
and the like, but he delighted to observe the principles
at work in the management of institutions of that cha-
racter. One great principle which he remarked in
their own association, and one without . which he
presumed all other -efforts would fail in effecting
any degree of prosperity —ho meant prudence in
steering a midile course between two extremes.
It might occur to many then present that the two
extremes in their case, would be either to declare no
bonus at all in this comparatively gaily period of their
existence, or, on the other hand, to declare a very lane
one, without at all suggesting the way in which it should
be most advantageously disposed of. Now, the direc-
tors appeared to have hit upon the happy medium, and
having declared a bonus, had determined to' apply it to
the encouragement equally of the policy holders and the
investors ; and by affording them an opportunity of par-
ticipating in the profits connected with the institution,
thus inducing them to adhere to it, and to consolidate
the interests of the society. He thought there had been
much wisdom and forethought in the adoption of such a
course, and he therefore most cordially moved the
resolution entrusted to him.

Mr. J. C. SPENCE seconded the resolution ' • taking
occasion to observe that ho quite agreed with the prin-'
eiple of prudence and expediency which the director:3
had adopted in applying the money they proposed, to
inducing the policy holders tv feel additional interest in
the welfare of the association, and to lend their energies
to the promotion of its further success.
The resolution was then adopted nem. con.
Mr. DEERE then moved " that the valuation of the
business-and division of profits, if any, of the society be
made quinquennially instead of triennially."
The resolution having been seconded by Captain E.
G. L. PERROT'', who simply remarked that the proposed
change, by giving them fully five years, would enable
them to estimate to greater advantage the profits of the
society, 'was at once approved of.
M. F. MaLeomt said he had been connected with
the institution since its commencement, and -had since bad
frequent opportunities of observing the ability and inde-
fatigable industry with which the directors had devoted
themselves to the interests of the society. They had
done their part well and ably. The last year zy,s they
were all aware had been, commercially §peaking, a most
disastrous one, and had most injuriously affected Joint-
Stock Companies generally ; but so far as their institu-
tion was concerned, they were deeply indebted to the
discretion of the directors for averting those consequences
which might otherwise have visited them also. Person-
ally he was deeply grateful to them, and had the great-
est pleasure therefore, in moving "that the best thanks
of the shareholders be tendered to the directors for their
past services."
Mr. COOKE had much pleasure in seconding the pro-
position, as he thought that the past management of the
association reflected the highest credit upon the directors.
The motion having been carried by acclamation,
The CHAIRMAN rose and said that be had hoped one
of his brother directors would have relieved him of the
duty of returning thanks in their collective behalf for
the handsome manner in which the vote of thanks to
them had just been awarded. He did not wish to tro-
- upon their tune, which he feared he had already
done too long, but he begged on the part of his col-
leagues and himself to thank them most sincerely for the
kind expressions with which their services had been re-
cognised.
Mr. C. LATHAM, in moving a vote of thanks to the
auditors for their past services, said that it must be ob-
vious to all that, so far as the shareholders were con-
cerned, the auditors stood between the management and
them, and the skill and fidelity of the auditors were of the
utmost consequence to the institution. Now, the audi-
tors of that society were not only skilful, but were ex-
ceedingly careful and scrupulous in the execution of their
duty, and on that account they deserved their thanks.

Mr. J. SHERIDAN seconded the vote of thanks, ob-
serving that he bad much pleasure in endorsing all that
had been said relative to the practical ability and expe-
rience of their auditors. He had no doubt of the trou-
ble which they bad bestowed in the preparation of this
year's balance-sheet ; it was a difficult thing at the best
of times, but they had had, as it were, six years' work to
perform, as they had abundant proof by the report.
With regard to the association itself, he might say that
wherever he had been throughout the country be had
found the sinews of the society stretched by its agents in
all directions ; and he was peculiarly pleased such was
the case, for whilst the directors were providing for the
interests of the shareholders at home, the agents were
extending them to the utmost abroad.
The motion was cordially adopted, and.
Mr. RYE briefly acknowledged the compliment on
behalf of the auditors.
The CHAIRMAN next observed that he thought he need
scarcely apologise for again troubling the meeting with
any remarks, when he said that he was about to submit
to them a motion which was of such a nature that be
felt they would unanimously agree to its adoption, and
to the sentiment it contained. It was to the following
effbct :—"That the best thanks of the shareholders be
tendered to H. B. Sheridan, Esq., and the other officers
of the company, for their services." It would be a
satisfaction to the shareholders to know that he felt
perfectly convinced that any remarks he should feel it
his duty to make, in offering 'that resolution to their
notice, would be willingly endorsed by all his colleagues
in the direction of the company. It was well
known 3 to all then present that Mr. Sheridan
bad been connected with the company from its. earliest
institution; and from that time up to the present mo-
ment that gentleman's best exertions—indeed it might
be said the morning of his life—had been devoted to its
service. He (the Chairtnan) bad had frequent opportu-
nities of seeing how attentive he had] been to the in-
terests of the company ; and so far as the guarantee
department was concerned none but those " behind the
scenes" could form any conception of the amount of anx-
iety which was constantly resting upon the mind of a ma-
nager of a guarantee society ; and the amount of talent
and tact requisite to control its business showed the ne-
cessity as well as the importance of possessing a inansger
of Mr. Sheridan's capacity. He had al ways shown himself
to be perfectly conversant with every detail of assurance
business—so much so that he was regarded as an autho-
rity in Lthe int:urns:to world.- lie had atudiecl the

science of averages so thoroughly and completely that
he bad scarcely any thing more to learn. Enthusiasm
was .the genius of sincerity. Ile (the chairman) knew
Hr. Sheridan to be enthusiastic, and he believed him to
be sincere id his aspirations for the success of the insti-
tution ; and he did not know of any insurance . office
which could point with greater pride to the head of its
management than theirs could. Mr. Sheridan had al-
ways shown himself equal to the trust reposed in him,
and that was one of great magnitude, and therefore the
policy holders, shareholders, and directors were alike in-
debted to him. He was, in fact, the mainspring of the
company; for in an office like theirs, combining life
with guarantee business, the directors must be subser-
vient to the manager. In conclusion he was happy to
add that the institution was in other respects well offi-
cered, and he therefore begged to move the best thanks
of the company to them collectively for their services.
Mr. MALCOLM very cordially seconded the resolution,
which was carried amidst applause.

- -
Mr. SHERIDAN, in reply, said, on ,behalf of himself
and the other officers comprised in the resolution, he had
to thank them all for the manner in which they had paid
the annual compliment to thorn. As the meeting had
now occupied so long a time he was reluctant to address
them at any length ; but as it was usually expected that •
the manager of a company on such occasions should say
something relative to the business events of the past
year he would offer them a few observations ; but he
promised he would be as brief as possible. The share-
holders had, no doubt, had their attention drawn to the
items of the company's general expenditure. On this
point it should be borne in mind that the great portion
of the expenditure for the year consisted of what
we termed preliminary expenses. These out'ays were
not only necessary and unavoidable the first year, but
far many years there must be a great deal of what is
termed preliminary or extension expenses. Some com-
panies which had been in existence ten, twelve, and fif-
teen years, and which had hardly yet left London, had
been obliged to incur these expenses ; and what would
their shareholders say when the cost of extending the
business into the provinces was put before them ? Only
that it was an expense that must be spread over a period
of time, and therefore must be called preliminary ex-
pense. An office in King 'William-street, for instance,
had no agents in the country for the first nine or ten
years of its existence. In fact there must be prelimi-
nary expenses, and each year, if a company was pro-
gressing, it must incur a large amount of expenditure
in this way, which must be separated from those
items that come under the head of annual
expenses. But if business was not spught by
these means how were you to obtain it ? There were
three patent modes by which insurance offices could ob-
tain a connection. One was by means of age and re-
putation. The old offices threw their doors wide open,
and waited calmly for the entrance of their customers,
relying on their age and reputation; but that would
not do with their office, for he supposed if they were to
turn the whole front of their office into a doorway he
did not suppose customers would walk in, inasmuch
as they were not what was termed
,an old office, and in
the technical language of the insurance world they conse-
quently had no reputation.. Another mode was by ob-
taining the support of a class. There were offices that
k had obtained an unusual degree of success by addressing
themselves to, and starting with the support of a p-arti- I
cular class. One office to which he would refer bad
secured the co-operation of a highly industrious
and intellectual body of men, men as respectable as
any in the middle class of life. Mr. Pratt would know
very well to what office he alluded when he said that the
success attending the efforts of that office was traceable
to the exertions of that excellent class of persons, the
Sunday school teachers— a body remarkable for ac-
tivity, zeal, and intelligence, and who could back
their views with sound 'and logical arguments. Then
there was a class of offices which compelled their share-
holders to become insurers, .such as the Rock and other
offices. That had been found to be successful, though
the annual new business was not large ; but there was
necessarily a large number of share transfers each year,
and the transferers being obliged to insure their lives
on taking their shares, that, of course, brought more
business into the office. In the absence of either of
these features then in their. own office they had been
obliged to have recourse to purchase, to competition, to
'expenditure, without which it was impossible for them to I
get the public to look at them. There was for instance
a large amount of the expenditure deducted for com-
missions, for unless they allowed the agents liberal re-
muneration they did not exert themselves -at all, and
transferred their services to the keenest of their compe-
titors. With reference to the past five years, notwith-
standing the large items of expenditure to which he had
alluded, they had to-day seen that a lgrge amount of
profit had been made in the first year of the company's
working, and the proprietary had that day declared how
that profit should be divided and appropriated. Lapsed
policies had been referred to ; and it seemed to be sup-
posed that they had taken pace during the past -year.
But the fact was they were the policies thatihad lapsed
from the first commencement of the company, and these
lapsed policies had materially contributed towards the
declaration of profits which had beene this day made.
If, then, the last five years had been se satisfactory, they
might safely take the next on trust to be equally if not
more so. Although no profits had been made in the
guarantee department they bad made a large connec-
tion, which he anticipated would materially assist the
company during the ensuing five years. They would
perceive, by the prospectus, that a very great number of
public companies and corporati?ns had accepted the
guarantee of their company—companies that were com-
pelled to be particular with reference to the financial
value of their ' money securities— and who yet had
been amply satisfied with the security offered by this
company after a careful examination of its condition.
'At the same time as many as 2,000 firms, in different
parts of the country, had accepted the security of their
society. Although their efforts, in this department had,
as yet, been productive of no financial profit, he hoped
they would be more successful in future years. No
guarantee office had ever declared profits at the end of
the first five years ; and a gentleman behind him,
who was connected with- the first guarantee office,
c mid bear him out in this assertion. Although gua'
rantee 'companies had suffered great losses it must
be remembered that they had to feel their way,
for their rates of premium at first there was no data on
which to base a table of rates. The-statistics of crime,
though, unhappily, sufficiently ample, were not suffi-
ciently classified, and they could not ascertain the amount
of that particular class of persons who were likely to
seek the advantages of a guarantee office. They had,
consequently, to pay for their eiperience. Their
own (the Times) office had followed the course
of the other two offices, and, In consequence
of low rates of premium, had also been sufferers.
The first Guarantee Company had to learn that there
were two features that were elements in the calculation
of guarantee rates, and that could not have been origi-
nally considered. One was that, in the same way that
epidemic diseases attack large masses of mankind physi-
cally at stated periods, though the causes were partially
ascertainable, so there were periods when men were
seized with a kind of mental epidemic, a disorder that
threatened-moral dissolution to the patient, and in like
manner the causes were partially ascertainable.; periods
of great commercial pressure, periods when temptations
of an unusual kinJ were made to young mep to emigrate,
when new and royal roads to fortune daziled their judg-
ments, such as gold mining, &c. ; or to times of strong
political convulsion and exeiternent,.which lead' to dis-
content and depression, and to unsettle men's minds—
these were the causes that at stated periods in
affected the fortunes of guarantee societies ; but as they
had the advantage of anticipating the approach of
those periods, they could now .prepare • for them.
The other feature referred to was that ths're w ere two sides
to the great question of crime, "that wait irArnsity of
man," that for a man to become dishonest fie /oust in
most cases be tempted in some way or other ; with sr for
instance by the laxity of employers, or the ca,relCestless
with which they entrusted large sums of money to on--
sons under them, unused to trial or temptation, and he "e
lay the great series of all guarantee business. Limit
the temptation and you reduce at once the amount of
crime, compel employers to be careful and the employed,
in most cases will be honest. Thus, in accepting a
guarantee policy, it became important to inquire into
the character of employers, and these were the precatn.
tions which, if duly observed, would tend, in a great de-
gree, to reduce the chances of guarantee losses.. He
must apologise for detaining them at such length, but
before he sat down, he might observe that there was
now before the House of Commons a measure for
the limitation of liability in Joint Stock Companies
which would have some effect upon their company in
this way. The best business had been for some time
monopolised in the guarantee department by the British
Guarantee Company, which had been selected by Go-
vernment, from the fact of its proprietary being liable
,to the last shilling of their fortune. They had resisted
the temptation to any such principle, and consequently
1 the office to which he alluded had been used by all the
employes of the Government to effect their policies. But
when the measure he spoke of had passed the house this
temptation to unlimited liability would cease, and the
Government could not consistently support or persist
in this monopoly ; and he trusted they should have a
fair share of that business. .

T. M. BAKER, E3q., then moved a vote of thanks to
the medical officers of the company, observing that
their professional ability and consistent attention to
their duties entitled them to respect and praise.
Mr. W. HOPCROFT seconded the vote, which was
forthwith approved of tmanimously.

Dr. CooKE, in acknowledging the compliment, said
that it was at all times gratifying to receive praise for
one's exertions when one knew that it was not altoge-
ther undeserved. So far as the ability of himself and col-
leagues went, it was devoted carefully and attentively
to the interests of the society by the scrupulous exami-
nation of all medical reports sent up for their considera-
tion. !With regard to transfers from other offices, which
had swelled by one-half the losses the society had sus-
tained since its commencement: they were particularly
careful, and gave them much anxious consideration before
affixing their names to the reports. The society might
rest assured that their vigilance in the execution of their
responsible duties would not be relaxed.
Dr. BISHOP said there was one matter which his col-
league had omitted to state, which was that, from the
care they had taken in the examination of proposals
passing through their hands, the life department, he
believed, was in as sound a state as that of any institu-
tion in the kingdom. With regard to the foreign busi-
ness, although during the past year Much had been done
in Berlin, and in spite of the prevalence of the cholera,
they had but lost a single life in that city. It was
true they had rejected a large number of propo-t.ds,: brit
he attributed in a great measure the success of the com-
pany in Berlin and Hamburgh to the efficiency of the
agents and the integrity of the medical officers there.
He believed the latter were as able and qualified as any

••••••••............"••••••....................."".,111i6s.
professional gentlemen who could be found in this me
trorlis. .
Mr. GRADY, in moving a vote of thanks to the chair-
man for his able and courteous conduct in the chair, said
although the compliment was an ordinary and usual
one, yet they would agree with him that the chairman
was richly entitled to it.
Mr. CHANDLER seconded the motion, and it was at
once carried, amidst warm applause.
'The CHAIRMAN having a.ppropriately returned his
acknowledgments, the proceedings terminated.
The directors and shareholders present afterwards
partook of an elegant dejeunOwbich had been prepared
for them in an apartment adjoining the Boaxd-reom ;
during, which "the health of the company's agents " was
propoBed by Mr. Compton, seconded by the other
Wood, • acd cordially honoured. After several
toasts, the meeting separated

ABUSE, OF GOVERNMENT PATRONA.O
-FAMILY INFLUENCE AGAIN!

TO THE EDITOR OF THE SUN.
Sin,—The columns of your widely-spread journal being
alive to Government abuses induces me to draw your
a
attention to the announcement in The Sun of last niglit
of the appointment by Lord PAREOUre of a "young Ken-
of
" to the important post 'of Assistant Director
General to the Army Clothing Board. Most of Yen!
numerous readers will have remembered the speech niacle
Isar
very recently by our present Secretary for
Bebe i
n eto
Department, in the House of Commons.
(the noble Earl was understOod to say) that 0 far as he
was concerned, he would be enabled, in
to
th.:
Board of Ordnance with that of the War, to let the pub!'
see that neither rank nor family influence should inducehir
to make appointments unless the recipients bad talon
tchlaeimrisg,hatnindemneirnitt;htehiartrihgehtwpolaueldes.ts far
this declaration, we were last night informed that IVI_ •
George Dalhousie Ramsay has been appointed to fill ale
•seetos
very important and.lucrative post of Assistant Di
dent
to the Army Clothing Board ! Ask ally indePenstate
member of the house, call upon Lord Pansaure
t°
public
what claims this young gentleman old asp
he f.ieet,
service, and what qualification hb ld egard° ea
e 0 t rseferea
merit, or
capability for such an apppointreen i., that the
as possible put
In accordanse W:a
to the "Royal Red Book " informs the Inthrri,i,, the
young gentleman in question isa third-eles°
~c erenoure.
War-office, also private secretary to 1-ier' to the
So much for family influence. He is also nePlievlsieted,
noble earl. These are facts which cannot be cent'? eLsrd
Mr. Editor, you and the public have a right tocal7 ~iO3s
be
eanmure for an explanation on what grounds e
.21.;010
has thus abused the patronage at his disposalr.
obedient 5erva=......18 ISTB•L'
:- .
lidded to In
THE EMPRESS EIIGENIE.—The report as._ .o.o3,sesa
severalE of the metropolitan journals, that the '-'0`,.0 to
bougoeonrireeowt7 ifnora
averirowintdearyesstaincfgo
pcorn.dition, "Psts tele-
graphed for, and immediately p'roceederidec tOetkb:l'rench
t capital.don, 1311
Sir James Hudson has left Turin forte°l3 sod in
leave. The affairs of the legation are to dir,e '.
his absence by the secretary, the lion. E. Brsineetuted,
reciume his aquatic trips early next tnon t The Venerable Duke of Rutland will, it is 000..
in
the Rego"
th
to 17°14°11'
lution yacht. returned
Lord
squall, from Stoneleigh Abbey, Warwickshire'Maidenberrived at Stafferd
and Lady Leigh have
The'Duke of Sutherland has ad.
Est deOs
House from Clifden House, nual visit to ° eve, "
7otene"
grace shortly departs on his ann
mains in Sutherlandshire - his grace, we
seat, belie
paprobe
ing °
t 9 pass the summer at his romantic
Castle. s: to A r3i;
.
EAST INDIA COMPANY'S STOCIC.--Accorwog otint 0.
liamentary paper, published on Friday, the rsr cot.
East India stock transferred to loans bearing.lq93,4o3
interest, during 1852, 1853, and 185'4, was ' etn
Company's rupees. costa
Mr. Hardy, her Majesty's vice-consul at
nople, is returning to England for the ncrP9sr2!eca°:°:
work
kingin antbe occulist,oohsuinr
ohffiisnesiagthrt
efarail.ing sii,
DEATH OF ANOTHER FLAG OFFICER, glis—',„..ble 31)
JOHN MACPHERSON FERGIISON.--ThiS yerie,.,l.o.b, se
gallant Admiral died at his residence, in nearlydinbu°sixtY
Tuesday, at an advanced age. Ile bad been
years in the service. .s, E G 1011::
CLOSE OF TRANSFER AT THE BANS 0. - 14.0.0 r c
Yesterda'y the Books of Transfer for the Sevf f yorn,
per Cent. Annuities, Annuities for Ted
° end A
afternfe; sli . a
Three and a Half per Cent. Annuities, and Two se 10
peruly 2C,e
werent. A
snbnuuti Annuities i
lot%
owlhBi ctiin
othe s
tidiyilitehdee;olo.,
nOtb of
jildtoifueeaTesll:reig.ansfer for the Three per Cent. Consolidate
oinTgneindtiovnideewndlsedwgeirlls,boaprenidshiot mtilolnciths; the 9.:
of July. , +se e1(1).-,,a
HE CRIMEA.—The victorious career oi Siry drown
tionary forces under Sir George BTOVIR 0.13 d ~,13 to t"-
, Lyons having naturally directed public attenslrseonsr te
the
enes of their triumph. Mr. J. Wyld, Gel proosPti:
Queen, has stepped forward with handtile issuesir
tilde to supply an acknowledged want, hag „ontsYsst,e
, tweenexcellent map (2,1 feet by 16 inches) of the coup Aro'''.
The
Anapa and Caffa, including ICertch ells ad ses's'
• progress of the expedition both by lap.- f t'-
[ may be readily traced on it-2a p• a plan °l3icg"
[ attack of Kertch and Yenikale, by spirited
Os,' J. '4°6
1 _h=l, R.N., H M.S. Terrible, being given.. line
are also
soundings taken and the Russian line cues
, pointed out, together with other '
matter. v 011ciA'
. RAILWAY STATION MASTER ICILLED.--4 Ter' of the
ing accident occurred at . the Mottrans statie° v soon
Manchester, Sheffielc!, and Lincolnsbire I'o'll°l3o°
after noon on Thursday, the station-master, „en, the
Stubbs, being killed vthilst crossingsbe line ',Lin frmn
booking office to meet the 7 a.m. penger "'ld o'o
Hull to Manchester, which was then in sight, ne !Ass I,n
stop at the opposite platform. He attempted too i. is.at
front cf a special train of empty coke waggoneY aware
be had received notice, and he was tbeselere,., elissA'
would not stop at that station , but he evidently train
culated the speed at which it *was going, f°„rs and the
quite he fel l(,i
dead
dd
before threw
tl
ti
came up at the rate of about 15 miles a° bes"o"'yarde '
, unfortunate. man was dashed fora and about ',Ain bef°s
the buffer of the engin', which causlit iii,.lll,,,:the wbsse3.
stoPP:reied. 0
pissed over his face and lirobs. ll° wae:/. The -8'
ceased was about 26 years of age, apd Over, _She eeo.
itenstra,acirnoses,uthkie rbaeils, criw.
of ce,..18,
STATE OF THE ARMY BEFORE SBBAS: rOOll3 ere.
mittee met again yesterday at 12 o'clo° ther ate° 'og
17, Mr. Roebuck in the chair, aft the ic°' Iclair bel
P
iroinv aotfe,t
their
pr
oupbolrict
being present. The meeting, as on ..-sho cOlasic ioa
Wedlleil -' • el'
wanedrethneotqaadesnatilottned. 1" toner op;
(four o'clock), of tbe fee nine(' °v
to the various witnesses who have been e%O; Age/itse
cupied the Committee until the usual boor esiots °'
various matters was postponed until Mon Y,_ view ,i
The New Hospital for Di ase 4of the Chele so?
when the furthili discus nest.
Ise
Park, the first stone of whichse w s tit 14 on Tblliresi
Highness Prince Albert in June, 1851, viaascsove°l3/).
day last inspected by his royal highne!s, id
the - °l'eseci
by Lord George Lennox and Captain ,cing 013/r.
De Ros, equerry in waiting, prior to its ° surest 'Ol
for the reception of in-patients. The o,lbere, epr,
H. E. Gurney, Mr. H. Tucker, IYlr.
i_Je- .eios, tt,
other members of the committee, 'the phew oiri‘teers
Jeaffreson, Dr. Peacods Dr. Bennett ' seppevis,
and Dr. Clark, and several oft he earliest
_s g.
.1
of the institution, including r. Maste!Loohuls roYel:.
Mr. TidsWell, &c., were in waiting to sece/,./s o'ol°o,
highness, who arrived at the building at, 1° ptsifervieg
At the Middlesex Sessions yesterdaY Se°H.sil of bat/°n•
25, a ticket-of-leave man, was found gu,ll,'Voliani 00
, stolen a watbh, value 41., the propestY °I tsecner re b•
It.eman, from his person. In 1850 the C eiseilai
ear'
Ito 10 years' transportation fill: A to sip 11,tor)
bey. The Assistant-Judge sentenced him gr, 11l eny
FelijSt.."rvitlde. Mr. Le Breton pf9sectit noted, of kifeer of
.defencled,—Thos: Adderson, 17, was e°l'll' 3 II trtilifit nr
from the peisson. It appeared that he was con' tle,
young thieves. The Assistant-Judg,e se' nude' an
.1 eery i. (ts
variably sen,tencsid thief trainers topes4 ,ori.,ene seiet-
acquaintance in &seri) :
therefore, seos.eoced him to four years. 4.,, Aeer-sso
aria : " All right,. Tom." Mr. o'l3rie line
General Greincli
prisoner.lr, • .t
r ,01
Belgian Minister °',,j to v to
"Four years, I:iii was le
just left for Germany, Y)' that country urn tbr
different fortresses in . and retin
absent about thee© we`
1"
- A of
dal'e"
France. it
" the figlePe, 3,
L order, it i$ 0501 '0 0101o:4-1
A Paris correspondent ot neutron;
Brussels says :--of the sne on
"The examination'of the questi:lll. so 1 e°°"Goirer°;
ofAustria would carry me too far ' ,s tbe .0 Os
self to affirming with some certainty /0.,. perceiv ,0 in
ments of France and England do ti°o.io t/,0 in
symptoms which announce this considern„ joye 's joy
the policy and _resolutions of A.ustria. -I- rostr Obeid
tradict, with still more assurance, a 11. 0001;)r,, oil-
probable, so. impossible, that ono caene,"ssseti I." se;
how journals should have accepted n" p op of
culation, without the addition of a proofs delli:of At
cording to some English journals, about oh P;s. f tb°
• the French Minister at Berlin and tbe x re issioo Stpf,o°'
Hanover, ' to the effect of obtaining I' r 1111), the ; j Pe,
passage of a corps of the imperial arisil_eJr wee, a'
verian territory to Lubeck, where rites' loots
ready to convey them into the Baltic.beo tbe fsenel3
intelligence is quite unfounded. "be intoa sae
troops embark for the Baltic, it will .'tl
It., /
porf, a,S it was last year sfor the exped
is incl. the 296'111 fr°lll
A letter from S. Petersburg ofo A letter or (.1,
the National Gazette, says :---- 'the, estiSe 400
Irkutsk states tilat the river Arnoor,of pegsti.a:ite,s
which has often bgen the sub.iFoti to be Tliargc
between Russia and China, is l)©
lr_ey_.6o,
.t.
00
It
by the allied squadron constantlye r „.ising Or%
number of troops are eves there qto,
Irkutsk, and many officers 1100,ersrtivvoas the,..;. the
the other side of the l3aikal:
.i.-L'ea'navjgatiefelour the
siau governor-general °penes' t.ei „ ,rs aiv,ioioll
edition
the tl°'-see.cl#
Amcor with two steamers, just.-Lonwed
Russians had definitively abonist,
__tow pos
_OO
of that river, which they d leeri",,_A toi'f'.ote
During this period small bindep row_,:„ trio_,er,
Of late, ~ca t
neither to Russia hob'srto China. has been 0010 „e
have sprung up along its banks? P"'llowev o
the goernor-gena attentionai tuelli ,10..suil
these townships, and he has li!it' (-Lb' woe estabil 100
them all P
regular government over ~
ledge the supremacy of Russ' ' :;,, ditPi'
r. ,
bees orgauified ou the Amoo

IWONEY RKET

AND
COMMERCIAL INTELLIGENCE.

CITY, Two O'CLOCK.
„Te Cotton Market at Liverpool yesterday
'ed firmly, and prices were fully supported.
bale sales were estimated at 20,000 bales (one-
which .were taken for export, and on specu-
-1;:"1). -Uplands 41d. to 6id. ; New Orleans 4id.
; and Mobile 4d. to 6 9-16 d. per lb. The
;ea of the week reached 152,400 bales.
l'he increase in the amount of precious rmetal'se
bY the Bank of England last week was ex-
euingly large, and, although rumours have been
tFrreot that it would be so, the circumstance that
ere Was no alteration made on Thursday in the
L,naltoom rate of discount caused some parties to
t,',°e their doubts upon the subject. The immense
01ition to the private deposits is another instance
1(l
kthe difficulty of employing money, hut the pre-
!oration for the next instalment upon the Consols
14,44 is partly the cause of this. Compared with the
,_Errl°llB week the changes were as follows :
'etive circulation £19,740,205
122,890
Increase
17,789,102
/test Increase 724,321
3,112.943
59,214
1/4 „0 Erease
5,211,168
posits
0, Increase 15,107
'`uer Deposits 13,282,876
La_ Increase 1,350,560

'ltell-Day and other Bills
Decrease
►ernoaent Securities

oi,. Increase
'el'Securities

985.884
, 34,475
12,677,816

567,095
12,419,158

103,352
11,342,970
622,600

Increase
Notes
unemployed
Increase
Ile:ne rates at which foreign bills of exchange were
qotiated here yesterday afternoon were gene-
to:k lower. Paris, 90 days, was taken at 25 32i
la5Z, Amsterdam at 11 194 to 194, Hamburg at
12, t° Frankfort at 1181 to and Trieste at
Tol to 12 34.
tiaiihe Prices of silver, bars and dollars, are nomi-
i; without alteration.
Tort,: amount of bills drawn here during the last
INg'ght by the Honourable East India Company
14/ under :—Bengal 11,9561. 10s. 4d., Madras,
4258. Bd., Bombay, 2651. ; total, 12,3331. Gs.
liaextraordinary general meeting of the Austra-
-444.111i1ig Company was held this morning,
1)Y thiell an important and favourable report made
4: directors was adopted.-
%%1r liaiesty's ship Calliope has arrived from
Melb6urne and Rio de Janeiro, with
hve oz. of gold
troo Ti
braerchant. ship Shalimar has also arrived
°rt Philip, which place she left March 24.
Th 37;02 oz. of gold on board.
4"Nritefr 11,1_1iPments of spekie direct from London
61? the week ending 'Thursday last comprised
;11" oinces of silver and 1,250 of gold.
the e highly favorable news from S3bastopol, and
itnpreleellent Bank return, have caused a further
are 9!etaent of I to # per cent. in Consols, which
02i `l• The New Three per Cents. have been
40,'' and the Reduced 92 to I. Bank Stock is
14s' at 209 to 210. Exchequer Bills have been
kelt ;° 198• premium, and the Omnium is 5 to 5k
~,,111111. There is very little doing.
eoo lign Stocks are not buoyant. in proportion to
Deferred
exican have receded to 211 I. Spanish
are 18g. Turkish Bonds opened at
The ; and have been done since at 81k.
are the nominal prices of foreign
,s1"---Grenada Deferred Bonds, 61-, to 71-; Mexi-
tVii to 21- ; Peruvian, 68 to 70; ditto Three
e4tB., 48 to 50 ; Portuguese Four per Cents.,
'4oto ; Russian Five per Cents., 99 to 101 ;
Pahl ,-"lir-and.-a-Half per Cents., 89 to 91 ;
t,
~‘;t,O4El New Deferred, 18 to 18i ; Ditto 3 per
38 to 383/4 ; Ditto Certificates, 31 to 4i ;
Passive, 4 to 41.
p of the Railway Shares have improved to
4iCl' %at' , without the business done being eaten-
he Canadian and Belgian lines are steady.
40i Nkta. Mexican Mine continue very flat, the
tAtl4 'ock Banks are at previous rates, and the
Steam shares without particular altera-
,
}Zt
I'IINDS THIS DAY AT ONE o'ol,
Sank Mom, th,t ()tidal List.)
Per "Cit BUiTMq done
3 04 .
j'et Co t• * A Mee
,(3%, uced nnu
Co AnntlitieS
e1°,1411.- 'ent. Annuities
4 Ne " 24V' Cent. Annuities
I.4.‘l;;,tCeilr Cent. Annuities Shut ,
11 At, Annuities
hltk,ullities, Expire sth Jan., 18e0
I.l'"ittou",,, Years, Expire 10th Oct., 1859 3 11-16
"Itto r Years, Expire sth Jan., 1860 Shut.
,`)0 Years, Expire sth April, 1885 Shut
'4Qr Accout 10th July 9li 21
het 8
......... •
Nklor Ellie, 211
IQE (v„, • 15 19
lkb-41ekt, FOREIGN FUNDS AT ONE POLOOK
Oki 110 Per Cent
ds, 1822, 5 per Cent. St
81;OT
b:141111:nds, 5
iPper Cent.
to f, '4B. 3 per Cent
kiti!tto Icte the Account..... 3
j):'ali tow Deferred, 3 per Cent.
11, 'tto fonr the
.t 6, per cent
82 11
btZ4e ividendscocr the above pavable in London.
, hang°
2i per Cent. Guil
Per Cc t. Certifieatesl2
TWO O'CLOCK.
"°l3
921 i

SST
44•817'S ROYAL AMPHITIIEATRE.
, W„
PI!: ;p:ie'iti..t!,(l this national establishment to witness the
The
•,I 4 wa 4cie, at which we were highly delighted.
til. k 4 wlinirably acted throughout; Mr. Holloway,
'"llletieltb°"le, and the veteran Campbell played with
o'4 co 44 Spirit. The splendourthroughout was
'so life-like
11 11Pare. The grand tournament,
iStlinill:(lesetv4blistbilTent, in g/ Field of the Cloth, of Gold,
the he
presented at this far-
iT6 t:tael3l Wrof William Cooke gains fresh laurels
i,.,41;,; mduction.. No expense has been sparnends,run.
bi.tts I-4110 doubt it will have a long and r
t;." 110,4 charm about Astley's for splendourosperand dis-
-444 kii. Possessed by other theatres. The equestrian
1t1'11.41141,.(,)weti, which, under the management and per-
tli." 'erintendence of Mr. William Cooke, has gained
11
teto°Pularity. We strongly recommend a visit to
lvtlecl emporium of art 3.

...,
c'll7l- OF LONDON" THEATRE.
444.1‘' eha ----."—
most triumphant en-
aliNett lies Pitt has closed a .
lir cleBer at this establishment. He is a stilling actor,
ep,4 00,,,Y°8 the success that nightly crownsanhicsee.ffo......rts._.
itt% -'ccot
_Brothers is a masterly perform
who
ltibPts4l:l2t is followed by Mr. Charles Mathews, u
'l4l Qtter ' konday in A Game at Speculation, and
I,4tgtitiitthetiverBus Clatter. Theengagement
o of this dis-
-1.4 4t4h4.colnedian will be followed by.
rising in public

Zzo
1. I'll' SITIPPING—(TITIS DAY.)

I)Z_ottbov
tkek7at June 9.—Wind day at noon, S.S.W. ;
lonareeze, With alternaft cloud and sunshine, and
tt,41,4 allowers
tr'4ll„cltTß j •
'tto line S.—Wind, S.W. Arrived—Casco:de,
ttyt„?-,_ew M_ aderick, Havannah ; Mary Fenwick,
Nip e, Matanzas.
cqltnz...l46QATENew York Packet, from Hamburgh,
for une 8.--Wind, S.W. Arrived—Titania, from
tlt,tlllN4otk,ntwerp.
ti,aT/21, Juno B.—Wind, S. Arrived—East An-
thAml,nBPort), from Balaklava.
tltt:.4 an TON, June B.—Arrived—Esk (s.), from the
Qt.
0( Portsmouth. Sailed—Bahamian, for Cal-
T0R11,3 03.), for the Brazils.
t4Nou,,,,ty, June B.—Halifax, from Madras.
l'l,l%ter, f 119
June S.S.W. Arrived—Der-
-411 Itoo,r):°a Hobart Town.
'tz:tto, f 'Tune B.—Wind, S.W. Arrived—H.M.S.
1.1:214 Melbourne
o.with 70,500 oz. of gold. Sailed
Mo + ' nwe .ide

IltZtittiv(l,;
14tit (`-'lCei Pie, fro Paraiba ; Lady Elgin,
.a.rbadoes ; Slue, Curacoa.
Demerara ;
pia
A 4,
-.nee; from Barbadoes.
QUEENSTOWN, June 7.
cltfrom
Y. Cana
caotdAla, eßciaondorriaan;dSe.tamboul, Callao;
()al at_

(l'itrt ELECTRIC TELEGRAPH.)
lavintrooL, Saturday Morning.

DUBLIN, June 8.

ISt• J33/lARINE AND BRITISH TELEGRAPH.)
4).,4 .Icl, k
0, :411, -.W . GRAVESEND, Saturday 10.'d a.m.
2 . etl-....10.,E;ntide, half hour's ebb ; weather, fine.
vie ,Cari a, Clemens. from Smyrna • Prince Albert,
1, ' 'itro. 'lenrY, Konigaber,g ; fdaria, Leghorn ;
din pi .
kd -1r D EAL, Saturday, 9.35 a.m.
>111,..411 n • • mod
Nti . • r,-.--•- rin'e -era'. anal fine.
Nl:ltlaA`-•lty of ,e..oscar, fre,in Matanzas ; 319Ni:cell, from
twttrtiney ‘4lallutta, C alcutta • Potentate, Launceston;
for # for the L
owlon ; H.M.S. Rhadamanthus,
river.

26
St.
20
st.

25
4125,

20
20
10
10

St.
10
St.
25

1.0
5
t 0
18

204
100
20

20
20
20
20
33h

20
20
6
20

100
100
100
20

20
50
50
100
100

20
50
20
25