The Sun.
London, England, 1863-10-23 00:00:00

II --FIRE BRANCH.

The premium income of the year was £70,300 2s 11d,
being an increase over that of the previous year of nearly
£23,000. The amount paid for re-insurances, commissions,
policy stamps, &o. was £1,766 19s Id ; and the fire losses
paid and outstanding were £20,9d9 is lid. This branch has
only been in existence for five complete years, but its growth
during that period has been extraordinary, as will best be
illustrated by the following comparative statement :—Gross
premiums for 1859, £12,569 3s 5d ; 18d0, £24,996 14s 8d ;
1861, £38,479 15s 4d; 1862, £47,420 8s; 1863, £70,300
2s 11d.

The increase in the Home business has been much greater
than in any former year, and the efforts which have been
made in this direction by the opening of new branches and
otherwise, will, it is expected, tell in a marked manner here-
after. The directors consider that the surest test of the
amount of business transacted within the United Kingdom,
by the fire offices, is contained in the Government return of
fire insuraLce duty, and judging by this standard the
" Queen" holds a high place in public estimation. Taking
the offices which had been in operation for two full years at
the date to which the return is made up, the" Queen" shows
a larger increase over the preceding year than that of any
London, Scotch, or Irish company, or than any insurance
company established in the provinces, excepting only—and
this is a somewhat remarkable circumstance—the other two
great Liverpool offices, both of which, as the proprietors
are aware, transacted business for many years before the
"Queen" was founded.
lII—CAPTTAL.

The recent distribution of shares am ong existing proprie-
tors at a premium of one hundred per cent. yielded in pre-
mium profit the sum of £15,259, and this, as is shown in
the supplemental statement of accounts, has been carried to
the credit of the fire reserve fund, in the terms of the deed
of settlement. Tne capital is now fully subscribed, except
in respect of a small number of shares which are held by the
board, to be dealt with in the future, as the interests of the
company may require.

IV.---BRANCHES AND AGENCIES.
All the branches, at home and abroad, have contributed
towards the increase of business which the directors have
had the gratification to report, and several new branche:
have been opened in important commercial and manufac-
turing centres, while existing branches have been strength-
ened, and about 200 new agents appointed.
V.—RETIRING DIRECTORS.
The following directors retire by rotation, and, being eli-
gible, offer themselves for re-election, viz. : —Messrs. Stitt,
Kitchen, Tut, nicliffe, C. R. Hall, Bennett, Dowie, B. Hall,
Hastie, Hind, and Picton. In tetras of the recommendation
of the proprietors at the last annual meeting, the directors
have, during the year, increased the number of the board
by the addition of the following gentlemen who now retire
and offer themselves for re-election by the proprietors, viz, :
—Messrs. John Stewart, Aberdeen ; Peter MsLagan, Edin-
burgh; G. B. Kerferd, merchant, Liverpool; J. R. Leish-
man (Leishman Brothers and Co.), London ; R. B. Rey-
nolds (Reynolds, Mann, and Co.), London • T. R. Bridson
(T. R. Bridson and Sons), Bolton; George day (G. May and
Co.), London ; Archibald Robertson (Martin,Robertson, and
Co.), London; John Bateson (James Bateson, Sons, and
Co.), Liverpool; Christopher J. Thomas (Broad Plain Soap
Works), Bristol ; Rogers Waterhouse (Nicholas Water-
house and Sons), Liverpool; and Wm. Dalglish (James
Dalglish and Co.), Liverpool.
AN) FUNDS.
The directors recommend that a dividend for the past year,
at the rate of 8 per cent. free of income tax, be paid to the
proprietors on and after the 2d proximo, after providing for
which, and for all outstanding claims and accounts, the
sum of £13,742 13s 8d is carried to the credit of the Life
Fund, and the balance to the credit of the Fire Reserve
Fund, which now amounts to £23,4272s 7d, all accumulated
since the last annual meeting. During the past five years
the large sum of £106,514 14s 6d has been paid in satisfac-
tion of claims, and it must be gratifying to the shareholders
that, notwithstanding this fact, the funds of the Company
are in the sound position shown in the audited accounts and
actuary's report. The marked success of both branches of
the business is, no doubt, partly owing to that liberalit, and
promptness in the settlement of claims which have ever
been distinguishing features in the administration of the
affairs of the company.

The Chairman, in moving the adoption of the report, said
—Gentlemen, the time has again arrived when it again be-
comes the duty of the directors of this young, vigorous, and
flourishing company to lay before you a statement of its
affairs and transactions for the past year, and to inform you
what are its present position and prospects, and I am ex-
tremely happy to be able to lay before you accounts so satis-
factory as those which have just been read to the meeting,
and I now, gentlemen, beg to move—" That the report,
balance sheet, and supplemental statement of accounts now
read be received and adopted, and that the dividend for the
past year, recommended by the directors, at the rate of 8
per cent, per annum, free of income tax, be paid to the pro-
prietors on and after the 2d November." (Applause.)
Mr. KITCHEN seconded the resolution.

The motion was then put, and carried unanimously.
Mr. J. J. STITT proposed, "That Messrs. S. Stitt, Kit-
chen, Tunnicliffe, C. R. Hall, Bennett, Dowie, B. Hall,
Hastie, Hind, Pieton, Stewart, M'Lagan, Kerferd, Leish-
man,lleynolds, Bridson, May, Robertson, Bateson, Thomas,
Waterhouse, and Daiglish, be re-elected directors of the
company."

Mr. PAGAN, of Rochdale, seconded the motion.
Mr, CowiE moved that, in lieu of the names submitted,
only six be selected.

Mr. BIG H itm agreed with the motives which had actuated
Mr. Cowie, but he could not second the proposition, be-
cause it involved the difficult point of naming the three to
be taken off.

Mr. BANNER, in reply to Mr. Cowie, said it was quite
true that the expenses of establishing agencies did appear
large; but upon the whole balance there was a good profit
to the company.
Mr. HUNTER spoke of the onerous duties of the directors.
The resolution ,was carried unanimously.
Mr. C. ROWE moved--" That the thanks of this meeting
be presented to the chairman, deputy-chairman, and other
directors of the company for their services during the past

year."
Mr. RICHARD Bin:ANs seconded the resolution.
The resolution was then put and carried unanimously.
The CHAIRMAN said it afforded him the greatest possible
pleasure to move—" That the thanks of this meeting be pre-
sented to the auditors for their services during the past
year." (Applause.)
Mr. W. HIND seconded the resolution, which was car-
ried unanimously.
Mr. BANNER, in acknowledging the resolution, said the
audit had been a continuous and a very close audit; every.
thing
had been investigated, and he could answer for the

The motion was unanimously agreed to.
Mr. BRUCE, chairman of the London boare, acknow-
ledged the vote.
The CHAIRMAN moved—" That the thanks of this meet-
ing be presented to the manager and actuary, sub. manager,
and the medical and legal officers of the company, for their
past services." He said he was glad to be able to give his
testimony to the very great zeal and the very great ability
with which Mr. Wilson, the manager, and Mr. Leyland, the
sub-manager, had acted in the interat of the company.
(Applause.) And he might also add, that their thanks
were due to Mr. Turnbull for the close attention he had paid
to his duties. Mr. Wilson and Mr. Leyland were unwearied
in their labours to promote the prosperity of the company;
and the gratifying way in which the officers generally had
worked afforded to the directors the greatest satisfaction.
(Applause,)

Mr. BRUCE seconded the resolution, and said he did not
think there were two men in the kingdom who could do
more or allow a more he!tify, zeal in the management of the
affairs of an inaureeze eekapanyethae. Mr. Wilson mad
Leyland. (Applause.)
The resolution was carried unanimously.
Mr. WILSON having briefly acknowledged the compli-
ment that, bad been paid to himself and to his fellow officers,
said that, from the sub-manager, Mr. Leyland, the greatest
possible assistance had always, and in every way, been re-
ceived. Mr. Leyland was an admirable officer : and although
he regretted that that gentleman was being removed from
Liverpool, yet it was satisfactory to know that he was going
to the London management of the " Queen "—a policy that
lie believed would very largely increase the business of the
company in London.
_ _

Mr. FOWLER, of London, moved a vote of thanks to the
chairman for presiding.
The CHAIRMAN having briefly acknowledged the compli-
ment, constituted the meeting into an extraordinary one, for
the purpose of carrying out certain alterations in the deed
of settlement, which, after a long investigation by various
committees of the board, had been found necessary.
The alterations, after an explanation from Mr. Haigh,
the solicitor, were unanimously approved.
This terminated the proceedings.

Naval and Military Intelligence.

THE NAVY.

The iron frigate Recruit, 6,150• horse power, in dock at
Chatham, has been taken in hand by the mechanics and
shipwrights to make good her defects prior to being de-
spatched on any service for which she may be intended. In
consequence of the unfavourable reports made to the Admi-
ralty on her steaming and sailing capabilities on the occa-
sion of her late trial trip, arising chiefly from the vast
quantity of stores on board and her unnecessarily heavy
armament, directions have been received at the dockyard
for her armament to be reduced by two 32• pounders--one
from the fore sponson on the starboard side, and the other
from the after sponson on the port side. A considerable por-
tion of her stores have also been removed into the dockyard,
by which her trim will be very much improved. It was pro-
posed by the Admiralty to employ the Recruit as a tender
to convey the officials and workmen to and from Chatham
dockyard to the harbour's mouth while the Achilles was
fitting for sea, but from the reports since made to their
lordships it seems improbable that she will be employed on
that service.

The screw steam frigate Liverpool, 39, Capt. R. Lam-
bert, which left the Mersey on Sunday, at noon, arrived
yesterday at Plymouth. She experienced strong winds from
the south-west with very heavy weather. Her defects are
slight, but she will probably be docked. The Liverpool
is one of the Channel squadron. There is some expectation
of her being sent to reinforce the fleet on the North Ame-
rican station.

The Columbine, 6, screw gun vessel, Commander J. L.
H. Ward, steamed out of Portsmouth harbour yesterday to
the anchorage at Spithead, on the completion of her re-
pairs and outfit for service in the Pacific.
The new long dock in Devonport Dockyard proper, con-
structed on the sites of docks No. 1 and 2, which were one
inside the other, was occupied yesterday fur the first time
by the iron screw steam frigate Black Prince, 41, Captain
James F. B. Wainwright, of 6,109 tons. At present she
draws 24ft. Gin, forward and 26ft. 10in, aft, and, although
two days only have elapsed since the lowest neap tides at
Plymouth, there was a depth of water in the dock yester-
day, at 12.30 a.m., of 30ft. Rear-Admiral Thomas M. C.
Symonds, C. 8., the Superintendent of the yard, and the
principal officers were in attendance, Among the spectators
was the Archbishop of Canterbury, now on a visit to
the west of England. The Black Prince has all her guns
and stores on board. The first British ship which entered
a dock similarly equipped was the Prince Regent, 78 guns,
2,762 tons, at Sheerness, in 1863. She went in when the
tides were at the full. It is expected that the new long dock
at Devonport will hereafter be called the Prince's Dock.
The paddle-wheel steam surveying vessel Hydra sailed
yesterday from Plymouth for the Mediterranean. .