The Sun.
London, England, 1854-06-10 00:00:00

LONDON, SATURDAY EVENING, JUNE 10, 1854.

PROSPECTUS of the MIDLAND COUNTIES
FIRE and LIFE,. and HUI. STORM INSURAN,.:E CO II-
PANY. (Provisionally ittgiste, ed.)
Capital, One Million, in 80,000 Shares of 121. 101. etch, of which
Min 11. 10s. p:r Share Is proposed to be paid up.
The liaisility of the Sbarehold,rs will be limited, as in all other
Insurance Compatres, by the Deed of Sett ement, and by the
Policies issued by the Company, to the amount of Shares sub-

scribed for.
The Shares to be divided Into separate County Stocks, as follow:
Line° tisiere ...... 17,0,0 I Leicestershire •••••• .. • • 9.000
Warwickshire .... 17 MO I Northamptonshire ...... 8,000
Derbyshire ............ 13,001 Rutlandshire .. • • • ..... :4,000
Nottinghamshire • . .• .... 13,000 T0ta1......80,000
PROVISIONAL COMMITTEE.
Wm. Rudgard, Esq., Lincoln, Chairman of the Lincolnshire Fire
Office.
Wm. Uy. Brooke, Esq., Lincoln, Deputy Chairman, of the Lincoln-
shire Fire Office.
Wm. Hy. Adams, Esq.. Boston.
Wln• Foster, Esq., Canwick. near Lincoln. Directors of the Lin-
Wm. Marshall, Esq., Lincoln. colnshire Fire
Jno. Rawson, Esq , Boston. Office.
Jno. Geo. Stapleton Smith, Esq., Lincoln.
Thos. Winn, Esq., Lincoln.
With power to acid to their number.
BANICERS.—Messrs Smith, Ellison, and Co , Lincoln.
SECRETARY.—Mr. Win. Andrew, Lincoln.
TEMPORARY OFFICES. —The Lincolnshire Fire Office, Corelaill,
Lincoln.
In placing the Prospectus of the MIDLAND COUNTIES
INSURANCE COMPANY before the Public, it may be wet
first, briefly to glance at the Insurance Companies at present
existing 1n those counties. Warwickshire has two the Birming-
ham Fire and the District Fire. Notinghanastere and Derby-
shire one—The Nottinghamshire and Derbyshire Fire and
Life Office; and Lincolnshire one—the Linco'nshire Fire Office. It
wet be noticed three of these are Fire Offices only. The two Warwick-
shire Companies are both of them highly respectable and well-
established Companies, but limited in their operations to Fire In-
surances, and doing the bulk of their business in their own
localities. The Nottinghamshire and Derbyshire has maintained,
for many years, a most respectable position ; but it may be fairly
asserted, without any intention of underrating the Office, that it
does not hold that rank amongst Insurance Camps :let which is ne-
cessary to render it so profitable to the Shareholders, or extensively
useful to the public, as it might be. Leicestershire formerly pos-
sessed a local Insurance Office, but it was abandoned and sold to the
Sun Fire Office some years ago, although parties, web acquainted
with the Leicestershire office, have asserted that it only required
energy and perseverance to have maintained its ground success-
fully. Northamptonshire and Rutlandshire never possessed any in-
surance company of rheir own.
The Lincolnshire Fire Office is one of more recent origin, but con-
nect, d with one of the largest counties in the eingdom. It was
established in 185 , is composed of 495 shareholders, resident in
Lincoln or Lire Inshire, and although the business of the Company
has been almost exclusively confined to the city and county of Lin-
coln. it has in three years insured nearly Two Ali lions of Property.
The whree of the paid up capitel of the Company is entire, and in-
vested upon securities ; mei out of sanely realised profits during
the last three years, all Fire Los es have be, n paid, a 1 manege-
ment expenses, Five er Cent. each year to the shareholders
upon tt e paid up capital, all the charges connected with the
fortnati n of the Comp my, and still there is a surplusof nearly I,' 001.
as a reserve fund. This, in so limited a sphere of business opera-
tions, feel in so short a time, shows what mis ht be done upon the same
principle, by combinations throughout the whole of the Midlanu Coun-
ties taking, too, into account, that by such a cembieation the per
cent age of working expenses would be considerably reduced, and the
amount of local interest brought to bear, lenders success certain.
The shares of the Lincolnshire Fire Office have attained a pre-
mium or cent. per cent upen the paid up capital. The Office
was originals, intended to have been a Life, as well es Fire Office ;
but it was decided first to try its working as a Fire Office
before under eking Life risks. The success of the office has now,
however, been so great, that it is determined by the shareholders to
undertake Life, and also Had storm Insurances, in addition to the
Fi e business, and to extend the business to the whole of the Mid-
land Counties, with asbody of shareholders in each county. This is
proposed to be done by the dissolution or the Lincolnshire Fire-
office, and the formation of ae entirely new Company, to be called
"The Midland Counties Fire and Life and Hall Storm Insurance Com-
pany." The books, papers, snd business of the Lincolns ire-office to
be handed over to the new Company upon the following terms :
The shareholdes in the Lincolnshire office to recri e in shares (not
in money) 30s. per share premium, as the market value of their
interest in tee Company. To raise a fund for this pur-
pose, so as to keep the Csseital of the new Company untouched, the
new Shares are to be allotted at a Pretniiim of 2s. Bd. per e here,
esh ch will raise a iund amply stifficien for the purpose. This le
Bd. Premium will, of course, nut be charged upon the shares aliotted
to the Lincolnshire Fire Office Shareholders in lieu of their present
Shares.
To ensure a permanent resident Propriettry, the Shares of the
MIDLAND COUNTIES are proposed to be divided into sepa-
rate Stocks for each County, the shares in such several Camay
Stocks riot being capable of being held other than by par-
ties r silent is such several Counties ; and to ensue° a Pro-
priety having an undivided interest in the pros; erity ofthe
Company, Ito person, whilst holdisg Shame in this Company, is
to be allowed to hold eharce in sny other Insurance Company.
These restrictions may at first sight appear stringent, but they
must and will ultimately tend to promote the interest of the Com-
pany infini•ely snore than an indiscriminate hording of shares by
parties not resident in the Midland district, and possessing such
sares merely as an investme
n nt; or who, from conflicting interests
in other companies, can tot give an undivided support to the Company
of which, as shareholders, they profess, and ought, to be the sup-
porters.
As to the Life Business, the district of the Midland Counties com-
prises a population of between two and three millions, entirely
destitute, except as to the Nottinghamshire and Derbyshire Office, of
any local Life Office, and offering to the Midland Counties Company
ample scope for a most profitable business its that department of In-
surance, and still in so doing to promote is great public benefit, as
every well conducted Lite Office undoubtedly is.
As to the FIRE BUSINK-S, the district of the Midland Counties
Is most lavourable, the experience of all the existing Companies in
those counties shows.
As to the HAIL eTORA INSURANCE, this has not been added
to the Life and Fire business without careful consideration, and
upon details obtained from sources which may be relied upon; and
the union of these three branches of lneuranse in a district so good
as the Midland Counties, combined with careful and energetic ma-
saagement, mayswell tie expected, ere many years pass,to enable the
.Midlaud-Conntles Company "to take Ha stand as one of.ther snot In-
fluential Insurance COMpenies in the
According to the arrangement entered into with the Shareholders
•of the Lincolnshire Fire Office, they will take 12,000 of the 17,000
:shares forming the Stock of the Midland Counties Company, in Lin.
scolnshire, therefore, there will be only 5000 new shares to allot. at
she 25. sci. premium, and, although. many of the Lincolnshire Office
tehareholders have a claim to tie allowed to increase their amount of
shares, yet the Provisional Committee will view with great plea mre
arid carefully consider applications for shares from parties of influ-
estee and standing, who are not at present shareholders in the Liu.,
ecilnshire Office.
No person can hold more than 300 Shares in the new Company.—
Tlie Head Office is proposed to be heldin Lincoln, with local boards at
Btseningham, Leicester, Nottngham. Derby, and Northampton.—
The Board of Directors to be comp, sed of 25 Gentlemen, chosen as
follows :
Lincolnshire ... • • • ........ 5 Leicestershire 3
Was wick shire .• .. . • .. SN. firth mptonshire .• •
Derbyshire .••.. .. • • •. 4 Rutlandshire .. • • . .. I
No itingbamshire •• 4
Three of the Directors to be paid by salary, and expseted regu-
larly, if possible, to atten t the Board Meetings, so as always to Corm
a quorum for business ; the remainder of the Dir ctors to be unpaid,
but to be a lowed their • r vel ing expens s, when they chose to
att nit Board Meetings, at the Head Office.—'r Ile Chairman of the
Board of Direct rs to eex oil sio, a member of all the lots loartls
The Annna• Meeting of the Compan to Le held altersately, at
Lincoln, I3irminghain, Derby, Nett righain Leicester, and North-
am pion.
'The Provisional Committee will proceed to allot the shares
prisms the the Lneoln stosk, but do nut prop se to allot shares in any
of the o her counties until some influential gentlemen connected
wrth those connties have applied for shares, and whose advice and
direction in local cons eit tees may be rendered avaiiable in the seec-
tion of proper parties as shareholders, as it is ii t intended to allot
the shares at random to any one applying, but oily to such parties
as, by
thee' posit, ion are likely, not only to advance the inters sts of
the Company by their Insurances, but by their association with it
to give the public full confidence on the soundness of it foundation.
It should also be stated that no deposit will be required upon the
allotment of shares, as is general y the case, for all applicants for
shares will be held perfectly c.ear of all initividnal liability or ex-
pense, as when the Company is r ctually and lee Lily f stmed, (which
it is sure to he), then the expense of its realisation will be paid out
of the funds of the Company.
• This is a brief sketch of the proposed Company, bu
nt inth e Mfluenti id-
al
agents wills °Try be appointed in every county town i
laod district, who will represent the Midland Company tor that
county as reeside ifs mull lation, and public meetings will be held
in ail th r principal towns in the severe( coon- lea to explain more
fully the principle end details of the Company, but it is con idently
bell ved that a Cs meetly, termed as this is proposed to he, and com-
prising probably betty en 2,000. and 3.1100 influential shareho'ders,
emu of fail to prove most creditable, and a profitable investment to
all connected with it
While thus advocating the formation of a new Company it ought
not in fairness to i.e forgotten that half a century ago, the enter-
prise, intelligence, and capital of the Metropo is, promoted and
formed Insurance Institutions, which have been. for years, and are
still amongst the proudest and wealthiest of our National Institutions,
and sueplied ior the provinces of the Kingdom, at that time, what
they were not then in a pos t on to supply for themselves. Bu this
and
en-
terpsise has been amply rewarded lung ago by profits almost be)
belief; in many cases unti the pal- -up cripiial has increa-ed to ten
and twelve times its original amount, and now by the development
of various national improvements, the Provincial Counties are
as well able to found these Institutions for themselves, as the Capi-
talists of he Metre oils were in former years ; and in confirmation
of this, reference need only be made to such offices as the Norwich
union, the West of England, the Yorkshire, and other local offices.
It has, for many years, been admitted that investments in well-
established Insurance 4 °meanies are the most profitable, permanent,
and least hazardous, that are ever offered to the public ; and it is
believed Wet many will read this erospectus with deubt and hesita-
tion, who, in afters ears, will regret tor themselves and their families
that they did not throw a small amount of their capital, and the
whole of their influence, into the promotion of this Company.
Power will be taken by the Deed of Settlement to increm the
capital of the Company to two in Mons by the issue of 81,000 fresh
shares, upon such terms as the existing shareholders of the Midland
Counties company alien determine. This is erovideil for the pur-
pose of meeting any arrangement which may hereafter he thought
advisable for the juncton wi h the Midland Counties Company of
any of the Insurance Companies which at present exist in those
counties.
Printed Prospectuses, and forms of applications for Shares, will be
out in a few days, and may be had upon apelication to me at the
Lincolnshire Fire Office, Lincoln ; or of any of the agents of that
Company ; or of any of the Agents of the Midland Counties Com-
pany ; who will shortly be appointed in Birmingham, Nottingham,
Derby. Leicester, Northampton, awl Oakham, and of whose appoint-
ment notices wilt from time to time appear in the provincial papers.
By order of the Provisional Committee.
WM. ANDREW, Secretary.

Lincoln, 7 tli June, 1854.

DEER STALKING & GROUSE SHOOTING.
—TO THE SPORTING WORLD —Th3 Subscriber (who,
in the Great Exhibit' ,n of all Nations, received a Prize Medal), has
arrived in London with Patterns of a,l the necessary Clot ling tor
Deer Stalking, Grou=e Shooting, Salmon Fishing, Sm. Plaids, Tar-
tans, Socks, Stockings, Bonnets, Wrappers, Capes, Cloaks, Zeatland
Goods, &c. Very fine Plaids and Tartans for Ladles. The Highland
Dress correctly made up.

D. MACDOUGALL, of Inverness.
Rooms-191 Gllden Square. Open from 2to 6 o'clock, until Ist
July, when Mr. Macdougall returns to Inverness.

TUE DEPOSIT AND GENERAL LIFE
AS.SURANCE COMPANY.
Head Offices—lS, New Bridge-street, Blackfriars, London.
DIRECTORS.
Chairman.—The Right Hon. the Lord Viscritint Drumlanrig, M.P.,
P.C.. • omptroller of her Majesty's Household.
vice-Chairm
—Ouseley Higgins, Esq., M.P St. James's-place,
London, and Glen Corrib, Kilmaine, Mayo.
Ro-ert Yaßowley Biirnes, Esq., City-toed,, Finsbury.
Stephen Cracknall, Esq., St. John's-Gardens, Notting-hill, and NeW-
square, Lincoln's-inn.
Ge..re'e Knox, Fsq., Connaught-square, Hyde-park, and the Abbey-
house, SOOT'.
.Alexai der Maclean, Esq ,Harrow. on-the Hill.
David C. Poole, Upper Seymour-street, Portman-square.
William Pi insep, Esq •Hyde-nark.place West.
eb.n-t Andrew Riddell, Esq , Bryanston-street, Portman-square.
Dr. Scanlan, Upper Sennour-street, West, Hyde-park.
Major Sperling, St. James-square.
CONSULTING ACTUARY.
Francis G. P. Neilson, Esq., F.L.S.
SOLICITORS.
Messrs. Norris and Sons, 2, Bang d-rw,
don Rolicitors to the Commeri
clalof Lon.
The Deposit System is a novel and important feature, combining
the advantage of a Savings Bank with a Life Assurance Company.
entirely removinz all the obstacles to the ordinary system, and is
admirably adapted to the wants of those classes of the community
whose incomes are of a precarious nature.
Every description of Life Assurance on the Ordinary System
Business is transacted.
Annual. s are granted on the most liberal terms.
Declined and Die as,el lives are assu-ed at equliahle rates.
For P. ospectuses, an the Second Report of the Directors, apply
to the Agents, or to the Head 0111ce.

C. W. BEVAN, Secretary.
N.B.—As a proof of the estimation in which this Company is held
by al, classes, the Public is invited to read the Second Report of the
Li ector~, showing that there have been issued in he eighteen months
end.lig 25th March, 021 Policies, Assuring 255,3211., and producing
an Innual Income of 10,5421. 9s, 10d.
•

tiREAT GLOBE, LEICESTER-SQUARE.-SEAT
Vf of WAIL—TURKEY in EUROPE.—LECTURES on the
Geography of Turkey in Europe and Asia, and the Baltic, and the
surrounding countries of Russia and Persia.—Open from 10 a.m. to
0 p.m.—Admission is. ; schools half price.

ST. MARY'S HOSPITAL—The ANNIVER-
SARY DINN&R in AID of the FUNDS of this Hospital will
take place at the London Tavern on Wednesday, the 12th of July
nest, on which occasion

The Hon. ARTGUft KINNAIRD, M.P., has consented to preside.
Gentlemen desirous of becoming Stewara are reluested to an-
nounce their intention forthwith.

TIIO3. W. BUDD, Troasurer,
Chairman of the Dinner Committee.

Board•room, June 9, 1854.

LOWESTOFT ROYAL HOTEL.
S. HOWITT begs to call the attention of his Friend- and the
Put)lic generally to the liberal arrangements of the Eastern Counties
Railway in the issue of family tickets. The Royal Hotel is con-
siderably enlarged, and every possible comfort and convenience is
afforded at the most moderate charge.
Families remaining in the Hotel are accommodated, if they &sire
it, at fixed charges. Salt-water Baths, hot and cold, on the premises

LAURENT'S CASINO, Alta= Rooms,
(Lessee, CHAS. C. LAURENT, Onslow-house, Fmaam-road),
The above Rooms are now OPEN FOR THE SEASON.
and will continue open every evening, with LAURENT'S
CELEBRATED BAND. Constantinople Quadrille, Sultan Polka,
Fair Star Waltz, and Overland Mail Galop, by D'Albert; also, by H.
Laurent , the following Waltzes —La belle Frangatse, Leonora, Villi.
kiss and his Dinah, Admission, Is. Doors open at half-past 8.
Diming to commence at 9 o'clock, and terminate at half-past 11.

IMPERIAL PARLIAMENT.

HOUSE OF LORDS,-(YESTERDAY.)
The house re-assembled for the first time since the
recess at five o'clock.

In reply to Earl HARDWICKE,
The Duke of NEWCASTLE said for the first time in
this country an ambulance corps for conveying the
wounded from the field of battle had been established,
and being now completed, a screw-steamer had been
chartered to carry it to the East. This vessel, he un-
derstood, would be ready to leave the country the day
after to-morrow.