The Sun.
London, England, 1840-05-14 00:00:00

Tfl P, SUN', I,OIVDON, TITTIRSDAY,___MAY 14, IS4O,

NATIONAL LOAN FUN U LIFE

ASSURANCE SOCIETY.

The Annual General Meeting of Proprietors in the
National Loan Fund Society, for the purpose of r eceiving
the Directors' Repo: t, elec.ing some Directors, &c., took
place yesterday. It was held at the London Tavern,
Bishodsgate-street. It was numerously and most
respectably attended.
Amongst the gentlemen present we observed the
Lord Provost of Glasgow, Andrew White, Esq., M.P.,
Mr. Stoddart, the Treasurer of the City of Edinburgh,
and several proprietors, forming the Local Committees
from Bath, Exeter, Liverpool, Bristol, Salisbury, Bir-
mingham, Brighton, and other large towns throughout
the country.
T. 'JAMIE MURRAY, Esq. (the Chairman of the
Board of Direction), took the Chair.
The Secretary (Mr. CANtiroux) having read the
requisition convening the meeting,
The CHAIRMAN s:atcd that the Board bad prepared
a report for that annual general meeting. It was a
full and ample statement of all requisite circumstances ;
it set forth the amount and extent of support that the
Society had received from the public, and adverted to
the expectations which that support warranted as re-
garded the future. As that report embodied the sen-
timents of all the Directors, it was unnecessary for him
to say any more. The Secretary would read the report.
The Secretary then read it :
" REPORT, &c.
" The Direelors have to express the pleasure they
feel in meeting the Proprietors for the first time since
the formation of the Society.
" Although the principles of the Society were first
promulgated in July, 1837, and afterwards constituted
under the deed of settlement from the Ist day of Decem-
ber in that year, yet for more than 12 months previously
had the most active but cautious examination been made
into the solidity of its principles and the elements of suc-
cess it was likely to draw around it.
" In the general interest excited in favour of the Society
the Directors have not been disappointed ; they are ne-
vertheless aware that however good the principles are
upon which an Institution of this kind is based, its pros-
perous working must depend upon an extended system
of agency and co-operation.—( Hear, hear.) This object
has not been overlooked by them, and in order, if possi-
ble, to give a greater efficiency to it, they have been oc-
cupied in the formation of Local Committees ; they have
sought to obtain by this means more general support and
extension, notwithstanding the difficulties attending such
a system, often, in the first instance, presenting a want
of unity and cohesiveness, but which the rapid and
prosperous progress of the Society in the end converts
into very powerful auxiliaries.
" The Society has been everywhere received with
favour—it seems to have awakened in the breasts of
many the hope of securing an independence for their
survivors, who had previously despaired of accomplishing
such an object out of means more limited or uncertain
than those more favoured by fortune, who had already
availed themselves of the protection afforded by Life
Assurance Societies. It has not, however, been
forgotten by the Directors that the class so circumstanced
comprises by far the greatest number of the community,
and are possessed of by far the greatest aggregate
amount of wealth.—(Hear.) In guiding the objects of
the Institution over which they were called to preside,
so as to reach the possessor of the smallest surplus in-
come over the usual wants of life, they felt convinced
that by this means they were enlarging the basis of
security and profit to the wealthier classes of insurers,
a circumstance that this class would neither be slow to
perceive, or fail in immediately converting to their
advantage.
" The short experience which the working of the
Society afforded to the Directors the means of judging,
has fully satisfied them that a considerable number of the
policies opened with the Society belong to a class of
individuals whose families, before its institution, had
been rarely, if ever, protected by means of life assur•
ance.—( Hear.) On the other hand, the number of
policies issued by the Society for large amounts bespeaks
confidence in that class of insurers, that the profits to
be realized and divided among the assured will be con-
siderably enhanced by its universality and the vastness
of extent to which the uninterrupted progress of the
Society is likely to be carried.
" In the month of May 1838 the Directors first pub-
lished the plan of Deferred Annuities, which was de-
signed at once as a remedy for the palpable deficiences
and insecurity experienced by the contributors to bene-
fit societies, as well as to offer a more beneficial investment
for the capital of the industrious classes than was
within the scope of the savings' bank, while at the
same time it secured to them the leading benefits and
avoided the obvious defects of both those institutions.

-.-
" The seriousness with which this plan has been dis-
cussed and adopted by the public satisfies the Directors
that it is adapted to the peculiar wants of a very large
portion of the community, and that to draw towards
it the support of this extensive class of society, it but
requires the continuous development and the perfection
of a system of agency co-extensive with it.—(Hear.)
" The attention of the Directors has been continually
directed towards this object, and, although the magni-
tude of the subject itself, and the minuteness of its
detail, requires the utmost deliberation, they trust
that during the period that must elapse before the next
annual meeting, they will have made considerable
progress.
" In order to give a still further consolidation and
security to the Society, the Directors felt it their duty
to apply to the Legislature for an Act of Parliament,
which, they are happy to inform the meeting, not-
withstanding the serious opposition which they encoun-
tered, they have obtlined, and the Society is now em-
powered under 2d Victoria (Session 1837-8).
" The original capital of 500,0001. of the Society is
divided into 50,000 shares. Of this number 18,623
have been disposed of, and the deed of settlement has
been executed by the proprietors of 14,659.
" On a careful review of the continuous increase of

the business of the Society and its accumulating re-
sources, already forming in itself so ample a guarantee
to the policy holders, the Directors were induced by a
resolution, dated 28th January last, to suspend
the further issue of the remaining 31,377
shares, except at a premium, increased from time to
time as the prosperous progress of the Society would
warrant.—(Hear, hear.)
" The premium fixed on the first issue is one pound
each share, and the number determined on by the Direc-
tors to be issued at that premium is 8,000. The re-
mainder of the shares will be emitted in the same manner,
but with an increasing premium.
" The sum to be received from this source will be
very considerable. It will be applied, in the first in-
stance, to the discharge of all previous expenses, and the
surplus (which will belong exclusively to all the Pro-
prietors) will be invested, and its income appropriated
to diminish the annual charges of the general manage-
ment, so that at the first division the entire profits will
be distributed, and afterwards, with the least possible
deduction, among the:assured and the Proprietors of the
guarantee capital of the Society (exclusive of the five
per cent. as interest paid to the latter), in the propor-
tions regulated by its deed of settlement.
" The number of policies issued by the SoCiety, in-
, eluding Deferred Annuities, amounts to 1,230, and the
aggregate premiums received therefrom amounts to
31,2191. 19s. 7d. The sum received on Immediate
Annuities amounts to 21,2511. 3s. 2d , and the present
income of the Society is equal to 19,065/. Bs. 9d.
" The claims already paid by the Society on five po-
licies amounts to 1,8001., and the sum received on short
and lapsed policies, upon which no claim can accrue,
amounts to 1,5711. Is. 9d. It is upon these results, so
early exhibited in favour of the National Loan Fund
Life Assurance Society, that the Directors have ven-
tured to anticipate a steady and prosperous future.—
(Hear, hear.)
" The business to be transacted at the present meet-
ing is the election of Directors, who go out by rota-
tion, two of whom arc re-eligible, namely, Hunter Gor-
don, Esq., and John Rawson, Esq., and who arc candi-
dates for the office ; for the election of Clement Tabor,
&q., who is proposed Ly the Court of Directors to fill
up one of the vacancies, and &so for the election of
two Auditors, namely. Dr. Oiinthus Gregory, F.R A.S.,
and Prol'essor Wheatstone, F.R.S, who are re-eligible,
and candidates for the office. The meeting is also
called on, in accordance with the 15th clause in the
deed of settlement, to fix the remuneration of the
Chairman and Directors. The annual sum appropriated
up to this period by the deed of settlement was 1,5001.
The actual amount received by the Directors, including
the salary of the Chairman, in the last year has been
1,1291.:45. The Directors are of opinion that an
increase in their number beyond the present vacancies
would be highly advisable. For the purpose of effect-
ing this object, when such individuals have presented
themselves whose position in society would render them
highly eligible, a special general meeting of the Society
will be called.
" In conclusion, the Directors beg to express their
thanks for the efficient support they have received from
the Local Committees of the Society, and their future
reliance on the cordial co-operation of the Proprietors
at large, comprising so many individuals of high respec-
tability and influence, in assisting them to carry out the
great objects of the Institution."

The Report was received with marked attention—
frequently cheered—and at its conclusion it was warmly
applauded.
Mr. STODDART, Treasurer of the City of Edin-
burgh, moved that this very gratifying Report be
adopted. In doing so he would trespass on the meet-
ing for a few minutes ; but as he knew the value of
time, it should not be long. His attention had been
particularly directed to the subject of insurance—it was
one that was attended to in Scotland to a very
great extent. It was unnecessary for him to remind
them that the Scotch were naturally a very
shrewd and cautious pe..ple ; and that they therefore did
not hastily involve themselves in any schemes. Now
he was tolerably well acquainted with the largest insti-
tutions in that country, and with their origin and pro-
gress ; and he hesitated not to declare that there was
not one of them with which he was acquainted that had
made such rapid progress as had this Society,—
.

(Cheers.) He had been connected with one which
recently held its septennial meeting, where there was pos-
sessed a paid-up capital, and its annual receipts for fire
premiums were only 21,000/., while here, at the end of a
year and a half, there was a receipt of upwards of 31,000/.
—(Cheers.) That was a striking illustration of the
rapid progress of this Society.—( Hear, hear.) With-
out desiring to detain the meeting, he could not
but advert to one very distinguishing feature of
this Institution, namely, that regarding deferred an-
nuities.—( Hear.) He declared that it was calculated
to confer one of the greatest boons on the country,
especially on the labouring classes, on clerks, and on
all persons with limited salaries or incomes.—(Cheers.)
When they became unfit for further labour, the
most effectual means of securing support were here
pointed out. The plans of those deferred annuities,
and that of the life annuities, were among the very
best provisions for old age and for family provisions that
ever were devised.--(Cheers.) Even those who could
set apart only a few shillings at a time, would
here find the very best mode of appropriating the same
for future benefit.—( Hear.) He saw other institutions
similar in some respects growing up around them,
copying the plan of deferred annuities ; that was
gratifying ; but still was it no: taking a leaf out of
their book ?—( Loud cries of "hear, hear.") Although
this was plagiarism—to adopt the mildest expression—it
was so far gratifying that it was proof that the
public were now more extensively beginning to be
aware of the benefits arising out of the principles
of this Society. Still this Society was entitled to the
credit of having first promulgated the principles now so
extensively but only partially imitated.—(Hear, hear.)
The Report was in every respect most gratifying. The
extent of business done showed that the Society
already possessed the confidence of the public, while the
small loss, or demands upon the Society's resources,
showed with how much cautiousness its businets had
been conducted, and that was calculated to produce
increased confidence in the Directors, and on the value
of confidence it was unnecessary for him to enlarge.
And this led him to speak of the disinterested conduct
of the Directors. The deed allowed them to appro-
priate a sum not exceeding 1,5001.; they had only
appropriated 1,1001., when they might fairly have
taken the full amount.—(Cries of " Hear, hear.")
To the active and excellent conduct of the Board
he could personally speak. He and another per-
son connected with the local Board in Edinburgh
waited on Mr. Murray (the Chairman) about a
year ago, for inforMation respecting this Society ;
the fullest information was most satisfactorily given ;
it was so satisfactory that they strongly recom-
mended the Society to the Edinburgh Branch.
And that Branch, owing to the information they were
enabled to give, and consequently the confidence to in-
spire, largely increased its business, and one gentleman,
after learning all particulars, and going home to talk over
the matter, had returned and paid down his 11,000/. for
an immediate annuity on a comparatively young life.

—(Cheers.) Now that was for what might extend over
a long period of time ; yet such was his confidence, from
the proofs adduced, that he at once had paid that large
sum.—( Hear.) That was a marked proof of the value of
confidence, and consequently of the excellence of the
Chairman's and the Directors' conduct and attention. In
conclusion, he begged to impress on all Proprietors the
necessity of exerting their utmost to secure business to
the Society ; each might do something, and it was asto-
nishiog how much might be effected by such means. He
concluded with moving,—That the Report now read be
adopted, that it be printed, and that it be circulated
among the Proprietors.—( Applause.)
Mr. A. WHITE, M.P. for Sunderland, said that he
with very great pleasure rose to second this motion. The
mover of the resolution and the Report had gone to
fully into the merits of the Society, that it would be
unnecessary for him to detain them with further re-
marks thereon. When called upon to preside at a
meeting in his district, for the purpose of considering
the propriety of establishing a branch there, he com-
plied with very great satisfaction, being then per-
suaded that it was calculated to be of the greatest
benefits to the labouring classes. Further expe-
rience, and the very gratifying Report, had only
strengthened that opinion. He considered that
it was a good investment for persons in every branch of
society.—(Hear, hear.)
The motion was put, and unanimously adopted.
Hunter Gordon, Esq., and John Rawson, Esq.,
whose period of office had expired, but who were eligi-
ble to be re-elected, were unanimously re-elected.
Dr. Olinthus Gregory and Professor Wheatstone

(Auditors), whose term of office had expired, but who
were eligible for re-election, were unanimously re-
elected Auditors.
Mr. STUDLEY moved a resolution that a sum not
exceeding 1,5001. be set apart for the remuneration of
the Chairman and Directors.

Mr. MURDO YOUNG seconded the motion.
Agreed to.

Mfr. JAMESON (Agent and Secretary to the Edin-
burgh branch) said that he was very deeply interested
in the meeting, and being a shareholder, and having a
policy in the Society, he hoped were the best proofs
he could give of his approbation of the principles of
the Society.—(Hear, hear.) He would not occupy
much of their time, for, as men of business, they
must know the value of time. They might say
much, but what could they say better than adopt-
ing the Report ? and if they adopted the Report
would not that be declaring, in the most effective man-
ner, their approbation of the doings of the Chairman and
Directors ; and if they did so, could they refrain from,
on the contrary, were not they bound to return their
cordial thanks to the -Chairman and Directors?—
(Hear, hear.) Ho had narrowly watched their con-
duct, himself and scveral friends being deeply interested
in the prosperity of this Institution, and he had found
that they merited the fullest support and confidence. He
had no fault to find with them, except, perhaps, of
their over cautiousness ; so that if they erred it was on

the safe side. He had sometimes thought that if they
possessed a little more enterprise or speculation it
would be advantageous to• the Society ; but so cau-
tious were they, that prOposals recommended even by
his °Am nationally cautious Directors had been de-
clined, which were afterwards eagerly snapped up
by some of the old Boards in Edinburgh. The
principles of the Institution deserved all praise
on account of their bold originality ; and so ob-
viously beneficial were they that the world wondered
they had not been found out before. They brought
home to the poor man's door the benefits of the So-
ciety, by showing him the means of protecting himself,
and of securing comparative affluence, and that by his
own exertions.—(Cheers.) He did not complain of the
exertions of various benevolent institutions ; but he
could not avoid thinking that to be the best benevo-
lence which showed individuals bow they could best
work out their own security, advantage, and independ-
ence.—(Hear.) The Chairman deserved their warmest
thanks, for he not only was the sole _ discoverer of the

peculiar and admirable principles which distinguished
their scheme, but bad most ably worked out his own plan.
He had not quite such delicate feelings as the Chair-

man and Mr. Stodart, and he did not like to see these
imitations of their plan, which he would not call plagi-
arisms, but piracies.—(Cheers.) Previous to the in-
stitution of their. Society, life insurance had certainly
been progressing in this country pretty rapidly he
would admit, but then it was at ordinary carriage
speed, but since, it had been going on at railway speed,
so complete had been the success of their principles, that
they saw others coming forward, clumsily clothing them-
selves in their garments, as their best claim to public
support. He was glad, however, to find that their own
success showed that the public understood that
their institution was not only based upon sound
principles, but that they also had agents best skilled
in the working out of those principles.—(Loud cheers.)
As a proof that the Directors were worthy of their con-
fidence and their thanks he would merely refer to the
statement in the Report which had just been read, which
showed that the Directors had not actually divided the
whole of the very moderate sum which they were enti-
tled to divide among themselves.—(Cheers.) lie knew
the value of time in London to all, more especially to all
men of business, and although the remuneration voted
might look large in one sum, yet when it came to be di-
vided out into driblets and extended over a whole year,
it would appear that the Directors, so far from having
received any remuneration, had actually attended at
a loss to themselves.—(Cheering.) To his com-
munications with the Board of Directors he had always
met with the most ready and rapid answers. He
was a man of business himself; and knew the necessity
of speedy communications well, and had he found that his
communications to the Directors had remained for some
time unanswered or unattended to, of course he should
have concluded they were not men of business ; but
the contrary was invariably the case, and the rapidity
of their communications had only been equalled
by the rapidity of the communication between the
northern and southern capitals of the empire.
Were they entitled to their thanks or not ?
(Loud cheers, rnd cries of " Yes.") There were also
other officers on the establishment, besides the Chair-
man and Directors, to whom their thanks were due.
—(Cheers ) He did not refer now to Dr. El-
liotson or Mr. Syme, because those gentlemen
were included in his former proposition. The varied
and high attainment!, and the deservedly proud position
of his friend Dr. Elliotson, were a complete security that
only such lives would be taken as fell fairly within the
scope of the Society's tables. But thanks were not
due to him alone ; the fact that only 1,8001. had been
paid for insurances, showed that all their other medical
officers well understood the. nature of life contingencies
and the risks which were incurred.—(Loud cheering.)
They also were deserving of their thanks.—(Loud
cheers.) There was also another person most eminently
entitled to their thanks, and that was the person by
whose mathematical skill their tables had been calcu-
lated. There was a degree of complexity in these cal-
culations, and their number was so great, as made it
.
absolutely hopeless to follow him them, but they had
all had ample corroborative testimony of the correct-
ness of the calculations on which the scheme is based.
They found that the calculations of life had been made
under the actual value—this was safe, profitable, and
• sound to them, while, at the same time, they were en-

ablcd to act with proper liberality, so as to do justice at
the sane time to the institution and to the public gene-
rally. They could not give more for money than money
would produce. They had to calculate the risk so as
leave a fair profit to theniselve4, Ivithout, at the same
time, unfairly taxing the public.—(Loud cheering.)
A more d:flicult calculation it was scarcely possible to
make. Tile calculations as to the deterred annuities
could not he obtained from previous tables, and the
difficulties cf these calculations were increased by the
peculiar feature of their scheme giving their option to
the annuitants to receive instead a heavy policy at
death, however small their then chance of life might be.
Extensive calculations had to be made to enable the
Society to do this without danger to them-
selves, nod without acting unfairly by the public.
The gentleman who had made these calculations in such
en accurate manner was entitled to their most cordial
and sincere thanks.—(Loud cheers.) But all these
things would have been of little avail, if they had not ,
found a competent Secretary. If they had not a good
Secretary, the labour of the Directors would often he
of little avail.—( Hear, bear.) As Manager and Agent
of the Board of Edinburgh, he of course
in his small way—(A laugh)—although he believed the
Board of Edinburgh, by the bye, did more business
than any other local board—(Cheers)—had had con-
stant communications and correspondence with the
Secretary ; and be believed he was speaking not only
his own sentiments, but those of all his brethren, the
other Managing Directors of local Boards, when
he said that they had every reason to be satis-
fied not only with the zeal, talents, and
efficiency, but with the courtesy, urbanity, and kindness
—(Loud cheers)—of the Secretary. He would, there-
fore, ask them whether they could hesitate in acceding
at once to the proposition he was about to make : that
the thanks of the Proprietors be given to the Chairman,
Directors, and other officers of the Society.—(lmrnenre
cheering.)
Mr. JAMESON—After such a reception, I will not
ask any one to second the motion, as I believe every
one present has done so.--(lmmense cheering.)
The question having been put, and carried unani-
mously,
The CHAIRMAN said—l confess that, of all the tasks
which have been imposed upon myself and the other
Directors, from the commencement of the institution
up to the present moment, each one has appeared light
to the one which I now have to execute. Both my
colleagues and myself feel quite overpowered by the
cordial manner in which the resolution just proposed
has been received. I therefore wish, as briefly as pos-
sible, to say how impossible it is for us to give a proper
degree of expression to our feelings on this occasion.—
(Loud cheers.) The manner in which Mr. Jameson
introduced this resolution ought to be most gratifying to
our feelings, and if anything can sanction us in giving,
expression to our feelings of congratulation on our suc-
cess, it is our having been able, at this our first annual
meeting, to show to you that we have reaped
such an ample harvest of public confidence.—(Loud
cheering.) I have, during the greater part of
my life been engaged in the proposition of many
things new, and can say from experience, that although
it may be difficult to obtain the support of public opi-
nion in the first instance, yet that where deserved it will
ultimately be obtained. Therefore, had the degree of
support which we have obtained not answered our expec-
tations so early as it has done, I should not have doubted of
our being enabled ultimately to carry out the principles
of the Society, knowing, as I do, that they are calcu-
lated largely to benefit the country, and the indus-
trious classes of the community.—(Cheers.) You
have been pleased to couple, with the expression o!
thanks to us, thanks to the medical officers likewise.
It would be unnecessary in me now to attempt to state
more than the high opinion which we all entertain of
the great and extreme value of their services
—(Hear, hear, and loud cheers.) To Mr. Woolhouse
the greatest possible debt of gratitude is due for
his most laborious, skilful, and exact calculations. From
the nature of the scheme itself, the calculations ari
necessarily most complex, and if there is any valor
in it, it is owing entirely to Mr. Woolhouse. The
Institution has ground to pride itself on being able to
obtain the services of that gentleman ; in him they pos-
sess the highest mathematician in Europe.—( Cheers.)
You have also passed a vote of thanks to the Secretary.
I can bear witness to his unremitting attention to his
arduous duties, which call upon him at times to descend to
the most minute details, and occupy him frequently many
hours out of the ordinary course of business. This
must necessarily be the case at the commence-
ment of every institution ; and sure I am that
no one can discharge his duties better or more
efficiently than Mr. Camroux.—(Loud cheers.) Mr.
Jameson has alluded to the plan of this Institution hav-
ing been copied by other Societies.—(Hear, hear.)
I believe that since its commencement no less than 40
new establishments have, more or less, taken up our
principles, and all without the least acknowledgment
I do not feel hurt or wounded by this.—(Hear,
hear, hear.) It merely tends to demonstrate the
value of our scheme, it shows the direction that wa.
are progressing in, and I am sure that those will
do business with this institution who inquire int(
the particulars of it.—(Cheers.) So far from feeling
hurt or wounded by the adoption of our principles by
other Societies, I consider all these adoptions only as
so many advertisements of our scheme—( Cheers)—and
I will give them all the advantages they can possibl)
derive from it without any feelings of jealousy ; and as
the business to be transacted by such institutions as
ours is as inexhaustable as human life itself, it is utterly
impossible for any one Society to Embrace the
whole of it. The scope and object of the Society is a
topic on which I should much like to address you, but 1
will not detain you now. The objects of our Society arc
fully explained in our Prospectus, and have been already
amply discussed. There is scarcely a newspaper in
Great Britain or Ireland which has not taken part in this
discussion. It has also attracted the attention of man)
eminent philanthropists. Pamphlets have been written on
the subject, and lectures delivered, and one philanthro-
phic gentleman, the Rev. Mr. Butler, of Nottingham.
whom I had never seen until the other day, has been
giving lectures at his own expense in different towns,
for the purpose of explaining our scheme, and this
without having any pecuniary interest in our suc-
cess, for he is not either a shareholder or
an insurer, but actuated by pure motives 0:
philanthropy.—( Loud cheers.) Allusion has been
made in the Report to the operation now carrying
on with regard to the reserved shares. As the Repor;
was read in a rapid manner, I will endeavour to
explain it to you. There are 31,000 shares re
served. It is proposed to issue 8,000 of these a
a premium of 1/. per share. Any further it.-
crease of the guarantee capital of the Society is Ewa
wholly unnecessary, as the accruing premiums and
investments from the insurances effected in the
Society are much more than sufficient to meet any dis-
bursement there can be called for. In the first year it i,
requisite to have a guarantee capital ; but with the
increase of business this guarantee becomes less and
less necessary. The risk undertaken in the first in-
stance by the first Proprietors of the guarantee is
now cover, but it is not fair to them to admit
to an equal participation of profits new Proprie-
tors, on the same terms, who have neither under-
taken the first risks of the Society, nor partaken
of the expenses of founding its business. It is there-
fore proposed that the farther issue of shares should
only be made at a premium commensurate with the ad-
vantages to tie derived by those who enter into a busi-

ness without risk, and with a profit already secured to
them. The first issue of shares will extend to 8,000,
and at a premium of one pound for each share. The
further issue will be made at an increased premium,
justified by the success of the Society. My own pri-
vate opinion is that from 50,0001. to 60,0001. will
he realised on these reserved shares. This fund will
be first appropriated to the liquidation of all expenses
already incurred, and when the profits come to
be divided, they will be without deduction, and
be the same as if the Society had been carried

on without any expenses whatever. Beyond this I
believe there will be a large surplus, which it
is intended to fund, and the income resulting there-
from will cover in part, if not wholly, the future ex-
penses of management, so that the entire profits may
be divided amongst the Proprietors and the assured in
their respective proportions. We shall be prudent in
the issue of shares to those only who wish them for in-
vestment, and to grant them to those only who feel an in-
terest in promoting the extension of the Society.--( Hear.)
I have only now on the part of myself, my colleagues,
and the officers of the Society, to return you our sin•
core thanks for the honour you have done us, and to
express cur hope that at our next meeting we shall lay
before you a statement that will give you even greater
satisfaction than the present one.--(Loud cheers.)
Before we go I have to propose a vote of thanks to the
managers of Local Committees.—(Loud cheers.)
The motion having been put, and carried unani-
mously,
A. BITE, ESQ., M.P., said that as one of the local
Directors of Sunderland he begged to acknowle(lge tale
honour which had just been conferred on the local I): -
rectors. lie was rejoiced to hear of the flourishing
state of the Institution. as he thought it was one which
was likely to be of immense benefit to the whole of the
United Kingdom.—( Loud cheers.)
The a.eeting then separated.

The Earl and Countess of Warwick and Lady
Caroline Neeld have sent liberal contributions towards th'e
building of the
new episcopal school at Milverton, near
Leamington-spa. The sum of 841. ss. was collected on Mon-
day last, after an eloquent and appropriate discourse preached
by the Rev. A. 13. Campbell. The schools wilt he opened in
June.
THE WEATITER.—Since our last we have had
almost continued rain, which, though accompanied by a con-
siderable reduction of temperature, is producing a striking and
most beneficial effect upon vegetation. On Sunday we had a
very heavy gale from the north-east, so strong, indeed, as to
blow down a tree in Broughton-lane ; and it must bare done
some little damage to the apple blossoms in exposed situations.
What seems at first sight somewhat remarkable, is that on the
same day it was quite calm at Wrexham, with very copious
rain; and some striking differences in the direction of the
wind and the state of the weather have existed in different
places.--Mane/(ester Guardian.

NE W ZEALAND.

On Monday we published a full description of Port
Nicholson, given by Colonel Wakefield, in his second
despatch to the New Zealand Companies. The fol-
lowing are further interesting particulars of his inter-
views with the natives, the purchase of the land and
the general appearance of the country. We are in-

debred for them to the New Zeitiaildi .Touriur I, which
published the document in an extra Number on Tues-
__

day. Having concluded the bargain, and delivered the
articles to the Chiefs, who distributed them among their
people, Colonel Wakefield adds :
" On entering the harbour, a fine expanse of water
presents itself to the view. Tbe distance from the
reef, and from the top of the harbour inside to the beach
at the bottom of it, is about six miles, and three or

four in width ; over the whole of which is found nn-

chorage ground, and in the deep bay which forms the
real harbour perfect shelter from ull winds. In the
whole space no inconvenience can arise to any vessel

with the usual precautions, as none but the true wind

kit, instead of the flurries which are so troublesome

in the other ports I have been in on the Southern side
of the Strait. An island placed near midway down the
harbour, is of considerable size, and offers itself as well

adapted for a fort which would command the entrance
and the whole extent between the hills which enclose
Port Nicholson to the East and West. These hills

are by no means of the formidable height of those in the
Sound and in the Oyeroi. They are covered with trees
of a brighter foliage than those we had left in the morn-
ing, and present no obstacles to their cultivation. In
the beauty of their appearance they reminded us of the
woods of Mount Edgecumbe, the last we saw in Eng-
land. We had not anchored when we received on
board two canoes full of natives, who hailed Mr-
B-- as an old friend and companion in dan-
ger. Epuri, an old chief, eagerly inquired the
motives of our visit, and betrc.yed the most lively sa-
tisfaction at being- informed that we wished to buy the
place and bring white men to it. He was follosed
by Warepori, his nephew, who is about thirty-five years
old, and has for some years superseded the older chiefs
in influence by his prowess in war and skill in the rude
arts cultivated by these people. He also in fine words
expressed his desire to see white people here, and his
willingness to sell the land, which was solemnly made
over to him by the natives of this place five years ago,
when the greater portion of them emigrated to one of
the Chatham Islands in an English vessel, whose master
they partly obliged to carry them. Warepori and the
tribes which now inhabit the whole district of Port
Nicholson were a little before that time driven out of
their own country in the neighbourhood of Lount Eg-
mont by the tribes about the boiling springs, and have
the same right to this place as Raupero has to Entry
Island, and as the Waikati people have to Kawai, from
which they expelled the latter chief. This right is that
of possession ; sanctified in this case, in the opinion of
the natives of all these parts, by the formal cession of the
land by the natives who abandoned it, which constitutes
the lawful power of use and disposal throughout these
islands. Moreover, as regards this district, there is no one
who disputes his claim, for the original possessors have
made their homes at the Chathams, and having greatly
decreased since their departure, would be incapable, if
so disposed, to regain their ceded territory.
" The two chiefs remained on board at night. They

informed us that the schooner had left some native
Missionaries here, who were instructed to have houses
and chapels built by the time Mr. W-- was ex-
pected, with which orders they had complied. In dis-
cussing the merits of the Missionary labours as opposed
to the former practices of the natives, viz., those of war
and cannibalism, they deprecated the constant occupa-
tion of praying and singing, which took people off from

their, potato-grounds and their canoes ; the younger one
'lecturing that the incessant worship had nearly driven
nim mad, whilst they at the same time warmly de-
nounced any further fighting. What we want,' they
said, 6 is to live in peace, and to have white people come
imongst us. We arc growing old,' alluding to the nu-
merous aged chiefs on shore, and want our children to
have protectors in Europeans ; but we do not wish
for the Missionaries from the North. They are na-
tives. We have long been told of vessels coming from
Europe. One has at length arrived ; and we will sell
nor land and harbour, and live with the white people
•xlsen they come to us.'

" The old man asked what the Missionaries meant
when they said that all who were not Missionaries
were Devils ? And said that they told him his father
would come and see him again, when everybody knew
that his father had been dead and eaten these
thirty years.'
" Saturday, 21st September.—This morning the

two chiefs renewed their conversation respecting the
sale of land, and begged me to go and look at the
place and tell them what I thought of it. They did
not wish to talk any more about disposing of it till I
had seen it ; and Warepori said that he should go and
finish a large canoe he was working ai, and that we
should not see him for two or three days, by which
time I could tell him whether the place suited. me.
" I accordingly went on shore at the bottom of the
harbour, and procuring a small canoe, proceeded with a
chief who had been appointed to spew nic everything
up the fresh-water river, which empties itself in the har-
bour at about a n.ilc distant from our anchorage. This
river is seven or eight feet deep at its mouth, where it
Treads itself over a large extent, forming a lagoon in-
fluenced by the tide. It has also made for itself three
other streams, which divide it at a distance of many
miles from its mouth, and increase the extent of inun-
dated land. The valley in which it flows seems to be
about forty miles in length, and is from three to four
miles broad.

" On each side gently sloping hills, about two hundred
feet in height, covered with timber, bound it to the East
and West, as far as a very high range of mountains par-
tially capped with snow. At about three miles up the
river commences a grove of fine trees of the best des-
cription for ship and house building, intermixed with
large pine-trees. One of these trees, called the Kaika-
tea, measured twenty-one feet in circumference, and is

nearly the same size upwards for sixty feet without a
branch ; and I did not select this one for its peculiarity.
The pines would furnish yards and masts of all ,izes.
A tree, called by the English here the honeysuckle,
furnishes excellent woad fOr boat building. The only

white man living in Port Nicholson showcd me a boat

of eight tons, which he had constructed of this wood,
the planks of which he had himself bent in the sun. He

had sawed the whole of it with a hand-saw, and made
the nails for it out of old hoops.
" We found fifty or sixty people working up the
river at their gardens, and a few higher up, who had
fled yesterday on hearing our guns when the New
Zealand flag was saluted. These were reassured by
our guide, and returned with us. Those we had passed
in our ascent had prepared baskets of potatoes in their

ovens for us on our return, and all eagerly greeted me
as lately from Europe direct. The White Missionaries
they consider as much natives as themselves : at one of
their stations they inquired of my guide, as the canoe
glided by down the current, whether the ship contained
Missionaries ; No,' said he, they are all devils
The shouts of laughter betrayed their acquaintance
with his allusion, and their opinion of the uncharitable
tenet which had given rise to it."
The sale of the territory was the subject of a formal
discussion among the tribes, of which a graphic de-
scription is given.
' Monday, Sept. 23d.—This morning I went to
visit all the settlements in the harbour. At one of the
largest we found Warepori at work at a large canoe, the
bottom of which oonsists of a single tree, sixty feet
long, hollowed out with the adze. In the course of the
forenoon, two large canoes put into the cove where we
were, at the signal from him. They were on their way
to the principal village near our anchorage, carrying
the chiefs of two tribes to a meeting, at which the

proposed sale of the land was to be discussed. When
these had landed, there were assembled about sixty
men, and the affair which occupied all minds was
brought on the carpet. After an introduction
of the matter by Warepori, the leader of
the opposition, by name Buacawa, rose and
addressed the assembly. He objected to the sale of the
place, on the score of the treatment to be expected by
the natives from white settlers, and the inexpediency
of parting with the homes which they had obtained
after so much suffering, when driven from their native
territory. He spoke for an hour, and cvinoed consi-
derable power. His diction and gesticulation were
most vigorous, and the most ignorant of the language
in which he spoke, and the most inexperienced in phy-
siognomy, could not fail of taking the sense of his ora-
tion from his expression and action. Matangi, the oldest
and formerly the most influential chief of these tribes,
favoured the sale, and almost cried with joy when he
spoke of the white people coming to protect the Port
Nicholson people from their enemies, and put an end
to war.
" Warepori replied to his opponent, and talked a
good deal about himself. He said that lie was known
in Europe, and that the ship had been sent out to him.
Before lie concluded, all but the leader of the opposi-
tion had moved off to another part of the ground upon
the appearance of a large mass of baked birds and
potatoes, which had been cooked in honour of our visit.
" I favoured these discussions, from feeling assured
that the more the affair was debated the more
binding would be the bargain I should succeed in con-
cluding. And in themselves they had nothing disa-
greeable; for, in all seriousness, I can assert that I
never saw a deliberative assembly conduct its busi-
ness in a more regular or decorous manner ; and that
the solemnity of the appeals of the speakers, and
the encouraging applause or earnest dissent of the
audience, were becoming the importance of the trans-
action they were engaged in. At the close of the
arguments, which ended in a decision in favour of the
stile, most of the meeting went away in canoes to the
chief village, where another debate was to take place.
Indeed, in every settlement this floating Parliament
assembled upon the occasion, and formally proceeded to
take the sense of the inhabitants. It realized, after a
manner, Mr. Crossett Pelham's notion of an ambulant
Legislature.
" Turscay, 24th september.—l was on sl.ore to-
day at the principal village, when the debate was re-

flowed. It ended, as yesterday, in a large majority de-
ciding to sell me all their rights in this harbour and
district. At its conclusion, I formay asked the chiefs,
through Mr. B-, whether they had made up their
minds ; and they asked, Have you seen the place, and
how do you like it ?' I replied, that I had seen all I
racted, and that it was good ;' upon which they told
me that it was now for me to speak, for that they had
decided to sel (their land upon their own judgment and
by the advice of their friends in the neighbourhood,
notwithstaneling the dissent of some grumblers who
owned but little of it, and whose only argument against
the sale was, that the white people would drive the
natives away, as in Port Jackson. They had pre-
viously had fully explained to them, that a reserve of
land was to be made for them, and showed their knaw-
ledge of its meaning by now referring to it in answer
to this argument, and by saying that they would live

with the English as with each other.
" I begged the chiefs to go on board the ship to-
morrow, when I would let them see what I could give

for the land. Afterwards they spoke but little of the
affair, and gave •us some specimens of sham fights, in

which all the violent distortions of the countenance, put-

ting out the tongue to the greatest extent, &c. &C.,
which you have heard of, took place.
" I found a territory of forty or fifty miles in length
by twenty-fivo or thirty in breadth, containing a noble
harbour, accessible at all times, and in the very highway
between New Holland and the western world, and

land exceeding in fertility any I have seen in these
islands, and equalling that of an English garden. I
found a race of people of warlike habits, and but little
used to intercourse with Euroi-eans, just emerging from
their barbarism, and inclined to cultivate the arts and
intimacy of Great Britain ; appreciating the protection
from their hosiile and still savage enemies that British
settlers would afford, and anxiously desiring to assist
them in their first labours in a new country. I found
these people, mustering, upon the slightest call,
three hundred armed men, and quite capable, as they
have repeatedly proved themselves, of retaining their
possessions, and never having parted with a single acre
of land in their district by sale or otherwise, now, for
the first. time, disposed to make over their country to
me, as the representative of a body of my countrymen,
in consideratie n of the promises of remuneration and
advantage I had held out to them. Under these cir-
cumstances, and following out the spirit of my instruc-
tions, I determined to act in the most liberal manner in
the transaction. Moreover, I was most anxious to dis-
tinguish this bargain from all others
.that have been
made in New Zealand, that none of the haggling and
petty trading which usually take place between the
Europeans and natives of this country should enter into
any operations between the latter and the Comaany's
agents ; and that the value of this.property should not
be regulated by what has hitherto been considered the
standard of exchange in similar transactions.
" Sunday, September 19.—After service I went
round the settlements in the harbour with Warepori, in
order to see how the people were satisfied with. their
goods, and to invite them to a war-dance at the prin-
cipal village to-morrow. I wished to muster them, in
order to know their strength, and to convince them that
I placed entire confidence in them. On landing at the
Taranuke, or slave settlement, Warepori begged me to
take a place in a canoe which was hauled upon the
beach, and seating himself, proceeded to address the
occupants of this wretched village. He represented
the value of English settlers coming to the place ; and
excused the smallness of the quantity of goods he had
sent to them, on the plea of the free settlement having
required the greater share ; but, concluded he, You
have now arms, and should Raupero, or the Boiling-
water tribe attack us, you will be able to defend your-
selves. If we go to war, and any ofyou fall, )013 have
now the satisfaction of knowing that such will be buried
with their muskets and cartouche-boxes, and that their
friends will mourn over them as men who died with
weapons in their hands.' By his tact in thus suiting his
speech to the taste of his audience, lie soon conciliated
them ; and when ono of the Missionaries appeared and
reproached him for not haying kept one-halt of the land
for them 'mid the white men of his profession expected
from the North, they applauded his rebuke of him, which
was eloquently delivered, and contained matter which I
little expected from him. He asked him how he, a
child, dated to reprove him for anything he had done ?
and whether, when the land had been sold to the white
Missionaries, they might not have sold it again perhaps
to Frenchmen or Americans ? "l'his Rangatira-hoya,'
i. c. gentleman-soldier, he said, drawing attention to
me, will bring many people here from England ; and
how could they live in the same place with their ene-
mies ? They are not all Englishmen that come from
Europe : I have been in Port Jackson, and know the
English ; and none else shall. come to interfere with
those who are coming to live here. There is a man
from Europe on board the ship who is not an English-
man ; I know him by his tongue.' This was in allusion
to the German naturalist, After re-entering the boat,
be said he wished to satisfy every body ; that he had
reserved nothing for himself ; that when be had
learned English, he would go to England ; and laying
his head on my knee, he added, that if the natives were
' dissatisfied with him, he sould live with the English,
and they should be his fathers. He the!) invited the
young men to attend at the principal village to-morrow,
six miles off, at a war-dance in honour of their visitors.
" Before leaving the head of the harbour, I pro-
posed to buy the houses and chapels that the Mis-
sionary delegates have built on a beautiful piece of flat
land, already cleared, on which I propose to plant the
first British settlement ; but Warepori objected to my
paying anything more, saying, Have you not already
paid for the land, and every thing on it?' I engaged
the natives, however, to be active in collecting provi-
sions, clearing the land, and bringing timber for houses
to this spot.
" At all the other settlements similar scenes took
place ; and I had the satisfaction of being received on
alf hands as a benefactor, and to hear the reiterated as-
surances of contentment with the purchase money, and
joy at the expected arrival of settlers.
" I must not omit to do justice to the Chiefs who are
parties to the deed, by informing you that they were
equally anxious that the sale should take place, and that
the purchase should be valid and binding on themselves
and heirs. They repeatdly informed their people that the
land would be gone from them for ever, with the excep-
tion of what the white people would allow them to live on
and cultivate ; that they would never receive any fur-
ther payment for it, but be paid for any labour they
might perform for us ; and that the contract would be
held as sacred as similar ones which arc frequent amongst
themselves."
The confirmation of the contract :
" Monday, aOth September.— In the course of
the morning we observed the natives from all parts
of the port mustering at the prescribed place
for the appointed ceremony. Although the wea-
ther was bad, canoes full of armed men, women,
and children, on foot, hastened to the rendezvous.

Warepori and the Chiefs, who had slept on board, went
on shore ea' ly to make preparations for our reception. In
every direction on the beach the native ovens threw up
clouds of smoke ; and an immense 111 g-staff was reared,
with the assistance of our carpenter, on which to hoist the
colours of New Zealand, which I intent to leave here.
;:ie afternoon, at a signal from the shore, all the

cabin-party and those who could be spared forward
landed, and were received by about three Imndred or
more men, women, :.rid children. The former, amount-
ing to two hundred, were all armed—most of them with
muskets or fowling pieces, spears, tomahawks, axes of
various sizes, pointed sticks ; and the dozen umbrellas
which they had received from us figured in the hands
of the others. They were divided into two parties,
which occupied separate parts of the village and beach ;
and were led respectively by Warepori, who insisted
upon wearing a large hussar cloak of mine, and was
armed with a beautiful meri of green stone and kaihaya,
and an old chief, known by the nickname of Dog's-car,
and for his warlike feats and his detestion of Raupero

and his tribe. Immediately on landing I had the New
Zealand flag hoisted at the flag-staff head ; when the
same was done at the main of the ship, which saluted it
with twenty-one guns, greatly to the satisfaction of the
assembly. \Varepori then inquired whether we were
ready ; and apologised for the absence of many men,
either absent on an expedition to the westward, em-
ployed in their potato-grounds, or deterred by the
lowering state of the weather.
" Preparatory to the review, each party shook off
their clothes and took to their arms ; after which they
went through their customary dance, which excites them
to vigour of action, to the csdenco of an harmoni-
ous recitative breathed out deeply from the lungs.
Leaving their clothes as a regiment leaves its
knap-
sacks prior to the execution of rapid manoeuvres, each
raty took his station on the beach at about two
dred yards distance from its opponent. Then commenced
the war-dance, which consists of saltatory
whilst one hand extended upwards grasps the weapon,
and the other at each descent of the body slaps the
thigh. The whole body of the i.)
in and performers kept perfect
i
time in these movements, d
sounds which accompanied them. The deeptv,,o 6tu •
columns
ut
then passed each other at the utmost speed, and wheel-
ling about with great precision, took up a different
ground nearer to each other. After the dance had
been repeated, and in this the women joined, making
the most frightful distortions of countenance, andp,r-
traying the demons of discord by their appearance and
action, a challenge was brought from one party to the
other, and delivered in pantomimic signs, and you may
judge of our surprise when we found that. the bearer o.
this gage, disguised in an easy undress, and his head
ornamented with a profusion of feathers of the houya,
gracefully arranged, was the catechist, from the Bay of
Islands, Richard Davis, so named after his white god-
father and teacher. He was most expressive in
his action, and throughout the scene ; and subsequently,
in bringing up a reinforcement from the next village
with great rapidity, showed that his keg sojourn
amongst his reverendemployers had not changed his
! I inborn tastes, or abated his skill in the sport. As the
day was closing in, and this was intended as a most
amicable meeting of the tribes, no sham-fight took
place, but the Chiefs addressed the forces, and assured
each other of mutual good-will. One of the bodies

Yid, IPPIN 1!,447C1"14! OITION,

f then performed a war song, in the execution of whi
great exertion of lungs, and limbs, and accuracy of ti
were displayed." >tic/
"Thursday, October I.—lt remained for me r rv.
only to leave a person to watch the interests of
Company, and to make preparations for the arrival 14-,!,,,
settlers ; and I had brought with me a persott fro
Queen Charlotte's Sound, a trustworthy man, we
qualified by his knowledge of the language and habit 40k4 YEAS
of the people, for the purpose. 1 left with him
saws, tools, garden•seeds, and various articles o f
tiade, in which to pay for native labour, and to
supply himself with food. Warepori undertook to put
him up in a new house at his village, and render him
every as.istance. I had landed also a sow which bad
littered on cur voyage from England, and her progeny ;
the go Is, and the poultry. I left Mr.S:— ample
instructions to encourage the natives to build temporary
houses at Thorndon, to plant potatoes, and to keep
their pigs for their expected visitors ; and supplied him
with boards to place on the most prominent spots, on
which is painted' New Zealand Land Company.'"

:~;~-t

MONEY MARKET and CITY NEWS.

(WEDNESDAY EVENING.
TlMES.—There is a notion on the Stock Exchange
that the Government will raise money fry an extension
of the Long Annuities to the year 1880, instead of
having recourse to any other method. This impression
may serve to account for the gradual rise of Consols
during the last few days, and the no less steady decline
of Exchequer Bills, which would naturally fall as the
notion of a funding, which had sustained ti'em, began
to lose credit. Consols are quoted 91/ to 91i for
Money, and 91. E (buyers) for the account, which is a
further advance of /. Exchequer Bills are a shilling
lower, and are quoted 19s. to 21s. premium.
Some communications made at a meeting of the
Committee of South American bondholders yesterday
evening being considered satisfactory, so far as related
to the Mexican Government, there has been to-day a
disposition to speculate in Alexican securities, which
have considerably advanced. They are quoted at SO
to 11, and at 32 to for the new bonds. Spanish Ac-
tives arc flat at 288 to -it ; Portuguese Five per Cents.
are 3.11 to 8 ; and Dutch Two-and-a-Half per Cents.
stationary at 53/- to 4.k.
The Share-market i very hlisk, and the [Alen of all
the lines are still :advancing. Birn ing ism are 8)
to 2 premium. Great Western, 24 to 25, and 12
to ,t for the half-shares. Brighton, 5-4- to 5 disci:mot.
• Blackwall, 1:1 to / pm.

SUN.—A good amount of business was transacted
it pat.& secutities this afternoon, and prices rate aga a
about per e. nt. Flom these gradual improvements
in Consols, it appears evident th it the johbers have
abandoned the design of depressing the market in ex-
poctation that the Chancellor of the Exchequer will re-
quire a new loan, and let the public have the scrip on
easier terms. Fur present transfer Consols brought
91i 1, and for Time 911 to ; Exchequer Bills were
heavy at 19s. to 21s. prem.; and India Bonds at 2s.
to 4s. pretn.; Bank Stock was firm at 175; ; India
Stock rose to 251 ; and the New Three-and•a-Half per
Cents. to 1001.
The Market for Spanish Stock continued depressed
up to the close of business, arising, in a great measure,
from the A_pproaching settlen.ent of the account, and the
arrangement of the options. The Active Bonds closed
at 281 e ; Portuguese New Five per Cents. were heavy
at 3414- to ; and Colombian receded to 26 ; Mexican,
in consequence of the directions forwarded to the agents
of the Republic in this country, to receive here the
Coupons representing arrears of interest on the debt,
in payment of Custom Dues, whereas hitherto they
have been available only at the ports of Mtsieo, rose
from 29k to 301 ; French Five per Cent. Rentes
brought 113 75, being a slight improtement ; Dutch
Five per Cents. touched 101.
There was a large business done in the Railway
Shares this afternoon, and in almost every instance at
itnprot ea quotations. The London and Birmingham
Shares realised 82, the Great Western 24, the New
12,4, the North Midland 64, the New 131, the Man-
chester and Leeds New 1 13, and the South Western
13a- premium. The Brighton were 5, and the Man-
chester and Birmingham 6, and the Eastern Counties
8 discount. London Joint-stock Bank Shares were at
3/ premium.
The official return of the present quantity of Foreign
Grain in bond shows the stock to be under 300,000
quarters. The imports of Colonial Wheat last week
were a mere bagatelle. The revenue derived from
the duties paid upon the admission of Grain and Flour
for home consumption, was aboat 1,200,000.
After all the outcry against the late Chancellor of the
Exchequer, it appears that the amount of Bills afloat
last year was less than for four years previously, except
in 1837.

SPIRIT of the PUBLIC JOURNALS.

FROM THE MORNING PAPERS OF TILTS DAY.
(From the Morning Chronicle )
There was a fanatical gathering in Exeter hall yester-
day, wi en, as usual, the Catholic Emancipation Act was
denounced, and the building rang with acclamations for
its repeal. An awful event occurred in the sudden death
of the Rev. Dr. F'cocock. It has been often said by
divines, that death is the great teacher of charity. He is
so, to the common human heart ; but this moral function
seems to be abdicated when he appears on the platform of
Exeter Hall, at a " Protestant meeting." It is saying
but little that these ceaseless attacks upon the civil rights
and status of our Catholic fellow-countrymen arc a dis-
grace to the party that strengthens itself by such means,
while its leader affects to condemn them. The evil pene-
trates deeper. They desecrate the Church whose name is
a‘sociated with them; and in multitudes they stimulate
the worst feelings towards Christianity itself. 'Phe
Owenitcs are innocuous enemies of religion, as to actual
it:ll:mace over people's minds, compared with the M'Neiles
and Stowells.

(From the Times.)
The writli;rigs of Irish Radicalism under the expected
infiction of Lord Sunley's indispensable measure become
more frantic every hour, as the time approaches for dis-
cussing the committal of the Bill. The English language
has heen,rannekt d for terms the most opprobrious, less
in relation to the Bill itself, than in disparagement of tho
Noble Lord, his history, motives, and character as a con-
stitutional statesman; the knaves if Downing-street
finding it somewhat eaiier, as well as more congenial to
their own malice towards the man they dread, to fling
out vague Billingsgate against his person, than to
deal with anything in the shape of argument against
his measure, and capab!e of refutation on the face of
it. " Recreant Whig," " apostate," " renegade," &c..
are samples of description, cheap and vile enough, and
often applied for factious ends to the moat virtuous public
men in the community. But will the calumniators of
Lord Stanley point out to us any one act of the Noble
Lord's life which entitles him to the epithets we have
quoted ? The act by which, above all others, the noble
Member for North Lancashire has slimed the rancour of
those who admired so long as they could make use of him,
was one which has gained fer him the tsteem and attach-
ment of every dispassionate politician in the empire, and
of all observers of our national character amongst foreign
nations, who are capable of judging on what fame and
honour ought to rest.
(From the Morning Herald.)
That the Melbourne Ministry are what the Globe, no
doubt with a sly reference to the long run of good for-
tune which has attended the " thimble-rig" game, termed
" the lucky Administration" is unquestionable. It is true
that several of the most notorious of the characters that
have figured in the pages of that species of history which
is filled with ;he exploits of dishonest ingenuity, have had
a great flow of " good-luck," though they have made ill
ends at last. But we do not see why the Melbourne poli-
tical gamblers should not continue to be as prosperous for
the next ten years as they have been during the ten years
past, seeing that even when their own knavish tricks seem
to recoil upon them, and fortune itself to lour, their Con-
servative opponents are sure to come to their rescue—drag
them out of the quagmire into which they were fast sink-
ing—scrape the dirt from their begrimed persons to befoul
themselves with, and give them once more a secure footiug
upon tie disgraced and degraded destinies of the country.
(From the Morning Advertiser.)
Petitions from the parishes of St. Pancras, Marylebone,
and Lambeth, numercusiy signed by the inhabitants of the
said districts, have within a few days past been presented to
the House of Commons, praying Parliament to adopt,
without delay, measures for stopping the murdtrius ca-
reer of quaciceb ; and, in order to effect this purpose, that
a report may be drawn up of the evidence obtained by the
Medical Committee of Inquiry in the year 1834, and of
which, with shame be it spoken in reference to those who
had pledged themselves to act differently, no use has yet
been made. We understand that many more petitions
signed by the inhabitants at large are speedily to follow
from various quartets, breathing the same prayer. We
trust that some Honourable Member, upon the strength of
the presentation of these petitions, will move that a report
shall be immediately drawn up on the ample stock of evi-
dence already printed by the House and obtained by the
counteract th oo
fe efforts
another
athfoorscesa
widho Committee—so
would t heappointment
Committee of Inquiry, which will prove purely useless.
move fora s t
and will only be had recourse to for the sake of procrasti-
nating medical reform.

It is said that. Madame Vestris cleared 4001. by
the benefit at Covent-garden on Monday evening.
LONDON WELSH PROVIDENT SPCIETy.—
A numerous party of the members and friends of this Society
took tea together at the Queens Arms, in Newgate-street, on
the 12th inst. After tea a mee:ing was held, at which Griffit
Davis, Esq., P. R. S., the President of the Society, presided.
Mr. Ilugh Owen, the Honorary Secretary, read a report,
giving a highly satisfactory account of the progress which the
society has made since its establishment in January, 1837: The
meeting was addressed by several gentlemen, and separated at
an early hour, greatly pleased pith the proceedings of the
evening.

THE OPERA.—The unexpected disappearance
of one of the principal dancers of her Majesty's Theatre was the
subject of much conversation yesterday, among the Labitues
of the Opera House. The young lady, who was premier
danscusc at the Academie Royale, had been engaged by the
manager at the instance, it is said, of an illustrious personage
across the channel, and the terms were that Madlle. A— was
to recei-:e 40,000 francs for her services for the season. On
Monday, when the messenger called at the lodgings of the fair
daughter of Terpsichore, in Jermyn-street, with a note, to at.
tend the general rehearsal of Guerra's new ballet from Le La
de Fees, he was informed that Mademoiselea
in the n.
and her sister had
obtained passports for Paris, for which city they had set off.
There was, therefore, a void in the corps dc i
ballet
lug, and the fair danseuse has not since been heard of,

N
SECONI

SU AT 1711 C E , Seven o' Clock.

THE FUNDS-(CLO SING PRICES.)

BRITISH FUNDS.
Rank Steck — India Stoek —
3 p.^r Cent. Red 9Ol Ditto Bonds 2 pm
3 per Cent Cons... ... 911 Ditto Old Annuities ...
r 4 per Cent Red........ 98,t; Ditto New Annuities...
:New :.3:,- per Cent
New 5 per Cent .. — Ditto 5001 2l pen
Long Annuities to expire Ditto Small
Jan. 1860
Oct. 1859 - Acct...
Jan. Is6o
FOREIGN FUNDS.
Aostrian, 5 per cent... Portuguese, 5 per cent.
Belgian, 5 per cent — Ditto, New Ditto 35
Brazilian Bow's .. ...... Prussian, 5 per cent....
Buenos A y res, 6 per cent Russian, 5 per cent. ...
Chiliiin, 6 per cent — Ditto, Metallic
Colomb'al, 6 per ce, t.. Spanish, 5 per cent 2B}
Ditto, 1624 Ditto, Deferred ...
Dani:h, 3 percent.....— French, 5 per cent...ll4f. —c.
Greek, 18,4. i, 5 .eercei.t. Exchange .. —f —c.
Meal. an, 5 per cent.... French,3 per cent... —f. —C.
Ditto, 6 per cent, 1825. 30i Dutch, 21 per cent 5.11
Peruvian, 1825, 6 per et. 16 Ditto, 5 per cent loob

SHARES.
Birmingham and Gloucester Railway 69i
Bristol and Fx,ter Railway

Cheltenham and great Western Railway 26
Eastern Counies Railway
Great Wetern Lai.way
Ditto New :-ihare, 43
Gosport Junction Railway
Lontkm and Brighton Railway 3o*
London and Blaawall Railvi ay
London and Birmingham Railway . 173
Ditto New Shares...
London and South Western Railway . . 5ll
London and. Croydon Railway (Trunk) ll4
Manchester and -Birmingham Ral*ay ..
Northern and Eastern Railway
North M:tiland Railway
Ditto New Shares... 33
South Eastern and Dover 7.

NATIONAL PROVINCIAL BANK
OF ENGLAND.-(THIS DAY.)

The Seventh Annual Meeting cf Directors and Pro-
prietors of the National Provincial Bank of England took
place this day at the Company's Offices, 112, Bishops.
gate-street Within. The meeting was most numerously
and respectably attended, there being a large number of
influential gentlemen present from various parts of the
t•'euntry. At twelve o'clock, on the motion of Philip
Courtney, Esq., 11. P., seconded by James R. Todd,
Esq., JOHN MELVILLE, Esq., Chairman of the Board of
Dneetc,rs, was called to the Chair.
The CHA In:IN briefly congratulated the Proprietors upon
being enabled to meet them in their own house, and re-
ferred to the gratifyidg progress which the affairs of the
Company l.ad made since their last meeting, and the in-
creased and increasing confidence which the public gene-
rally evinced towards their establishment.
The following report was then read :
" On this, the Seventh Anniversary of the Company, the
Direeturs feel it to be matter of congratulation that the
Peoprietors are now assembled within their own premises,
the advantageous purchase of which was announced in the
last Report. The necessity of a permanent place of busi-
nets far the head establishment, affording suitable acco-
rna6atiou for the transaction cf its affairs, as well as a safe re-
pository for records and securities, has long been felt ; and
tine Directors trust that the Proprietors will approve of the
selection of these premises, as in ail respects well adapted
ter the purposes in view.
The only additional branches that have been estE-
buished arc the following :

Dartmouth.

Bangor.
11°11, we:l.

Non h%
K:lut sford.

At Dartmouth the Directors were induced to open a
Lranch, from having •an offer, upon advantageous
terms, of the business of the old and respecta-
ble in of Messrs. Harris and Co., private bankers
in that town. Under an arrangement with that house,
treir business has accordingly been transferred to the Com-
pany, and the connection, while it is safe and profitable in
itself, will also, the Directors anticipate, have a favourable
it:fiat-nee upon the operations of the other branches in that
c7istrict.

The business of the branches previously opened in North
Wales reneered an establishment at Bangor desirable, and
at the o her three places last mentioned the field was left
a!mest enocetiiiied by the retirement of ether Banks. The
progress of these branches, which have only been a short
time in operation, is very promising.
The period which has elapsed since the Directors last
net the Vroprietors, has been marked by the recurrence of
ene'of those revulsions in our monetary system, with which
at irregular intervals this country has long been visited ;
but it is consolatory to Sad that the pressures of 1836 and
1639, although of longer duration, havebeen less extensive
;Ind severe in their effects than those of former years ;
a circumstance greatly attributable to the mainte-
nance of public confidence by the Joint-stocks Banks,
and the support which their large paid up capital has en-
abled them to give to the commercial and trading inte-
re,ts. The monetary dillieulties of last year were early
forem-n by the Directors. So far back as the month of
December, 1938, the state of the Money Market appeared
to them so unfavourable, as to call for the greatest cir-
cumspection cn their part; and, although money was
sOrnewli;t easier in April and May following, yet the drain
of bullion and the other symptoms of an approaching
crisis convinced them that caution was their wisest policy.
Aecoraiiogly, from the date first mentioned, the Directors
continued carafv!ly to puteue a discriminating and resttic-
tive course, which enabled them to pass through the seasan
of derangement and difficulty which ensued with compa
ra:isely little anxiety.
During this protracted period of excitement it is grati-
fying to the Directors to be able to state that the confi-
deece of the publiC in this establishment remained unim-
paired; and that notwithstanding the distress which gene-
rally prevaited, its business continued to improve.
Having taken this brief notice of the recent commercial
revulsion, with the exception of which there has occurred
no circumstance to affect the profits of the Bank, the Di-
rectors now beg to submit the annual statement of accounts,
fern which it will be observed that a sum of upwards of
,'_o3/. has been added to the Reserve Fund. The returns
ui the past year would have justified a larger appropria-
tion, but for the circumstances of the late ciisis, which
inevitably involved a rr.o:e than usual proportion of loss :
'lB39.—Jieuary 1. Amount of undivided X. s. d.
profits, at this date. 36,670 5 0
December 31. Nett profit for 1839, after
making a liberal allowance for bad debts,
end a proportion of preliminary expenses 30,359 4 9

Making a total of
Deduct Dividend for 1839

.67,029 9 9
.20 641 13 0

Leavitt.." of undivided profits at 31st De-
cember, 1839 46,487 19 9
With a reserve fund of 46,0001., and a large incretsing
revenue, the Directors feel that the time has now arrived,
when they are ful.v justified in making an addition to the
Dividend. Accordingly, they have the gratifying an.
nouncement to make to the Proprietors, that a Dividend
will be declared for the half year, commencing Ist January
last. e: the rate of 6 per cent. per annum.
The Directors have only further to state that three of
their number go out of offce by rotation, viz.—Robert
Bell, Isaac Nicholson, and Thomas F. Wilson, Esqrs. ;
but who are eligible to be re-elected, and cffer themselves
to the Proprietors accordingly. And that a vacancy, oc-
casioned by the retirement of Captain Probyn, is to be
supplied."

Mr. BROWN maved the adoption of the Rwort, the
stattments in %I-bleb, he observed, must be highly satis-
facory to the Prop-le:Cm
FlterteNs, Chairmar of the Stock Exchange,
seconded the motion in a very able speech, in the course of
%Ira he highly complimented the Directors upon the
foresight and prudence which had marked their calcula-
tions and arranfiements, and the result of which was so
gratifying to all those connected with the estahlishmen,.
'i he motion was carried unanimously.

It was then moved and carricl that Robert Bill, E-q.,
L•aac Nicholson, EN., and Thomas F. WiLion, Esq
three of the Directors who went out b; rotation, be re-
elected.

Jamea Gordon Duff, Esq., was then elected a Director
in the room of Capt. Probyn, who had retired.
Mr. Dr.FF returned thanks for the hozourconferred upon
biro.

Mr. HICITENS said he did not think they ought to sepa-
ratt veithow. offering. their cordial thanks to the Directors
1,..r the very able and efficient manner in which they had
managed the affairs of the Company.
The motion having been seconded, was carried with ac-
clamation.
The CumumaN, in his own name, and that of hisbrother
Directors, returned thanks for the c mfidence reposed in
them. He could assure the meeting, that so for as lay in
their power they would endeavour to promote the interests
of the Company.

.
Mr. BROWNE said they had another duty to perform be.
fore they departed. AU the ability and exertion of the
Directors would be unavailing in bringing the affairs of the
Company to their present prosperous and satisfactory posi-
tion if they had not zealous and efficient agents.—( Hear.)
He had grelt pleasure in moving a vote of thanks to Mr.
Robertson, the principal manager, and the other officers
of the establishment.

The motion was carried unanimously.
Mr. ROBERTSON returned thanks. The compliment that
bad just been paid.them was one that must be very gratify-
ir at all times, but it was particularly so on the present
Os
Ision, coming as it did from so respectable and nu-
merous a meeting. He could assure them that no efforts
,nould be ;wanting on his part, or that of his brother ofTi-
• rs, to forward the interests of the Company, and to en-
d tvour to merit on future occasions a similar honour to
that which had then been conferred on them.
'1 he meeting then separated apparently highly ,g, atised
with the proceeeings of the day.
SP

IRIT of thePIBLiCJOURNALS.

FROM THE EVENING PAPERS OF TII,S DAY.
(From the S.,erubidard.) •
This evening Sir Charier W eraill and Mr. Professor
Butt, of the Irish bar, a gentlemant high talents are
already known to the people of the watseadkingdom, are to
be heal d at the bar as Counsel for the -Corporationll. of the
city of Dublin against the Irish Municipalii
of justice and sound policy is safe i
.n such hands, The cause
advocates can ensure safety, and we may hope taataitiar as
must
be successful. Whatever learning and genius,
and sincerity, can accomplish, will bo accomplished by
Sir Charles and his learned colleague, and it would be as
insult to the Howe of Lords to doubt, that learning,
genius, zeal, and sincerity, will not be in vain employed
before them to assert the truth. An opinion has been in-
citistrio us/y propagated that a majority of their Lordships

are pl.: c!grd to the paisieg of the Irish Bill, with perhaps
some modifieatinne To say this is to libel the House
of Lords, to describe that' August Assembly as wholly
unfit for the functions assigned to it by the ConstAu-
tion. Pledged by some private compact (for there is
no public recerd of any such agreernent)—pledged by
male private compact not to act as a deliberative body—
Lot to fellow truth—not to listen to the voice of convic-
tion ! If we were to say of the Judges of the Court of
Queen's Bench, that they were pledged, by a private
compact made by them, or one of them, to give a
particular decision upon a case to come judicially
before them—if we were to say this of a Clerkenwell
jury, would Lot the Attorney-General issue an ex-officio
information against us, and with great propriety ?
(From the Globe.)
The General Assembly of the Church of Scotland will
very soon meet for the purpose of realising their expressed
intentions cf last year, and addressing the Legislature.for a
settlement of their present difficulties. It will then be the
duty of the clergy and elders, by petitions, to instruct the
Parliamen t and the Government regarding their wishes—
to ask, either for the clergy or the communicants
of their Church, the Presbyteries or the people
of Scotland, the powers needful in their deliberate
and collective judgments for ending the collisions and
clashings of the civil and ecclesia tical authorities, which
are now so fearfully shaking the very foundations of
their venerable establishment. Lord Aberdeen, however,
has been beforehand with them. He promises unasked.
Prematurely offering them a gift of his own, he socks to
bias their requests by announcing what it will suit his in-
terests to bestow on them, prior to any public expression
of their wishes; fearful, doubtless, that the expression of
their real wants may include demands with w hi_b ho can-
not comply, and manifeat necessiti:s for which there are no
supplies in the stores of his statesmanship. Oddly enough,
his friends make his haste and temerity a ground of lauda-
tion; and blame the Government for not being equz.lly
foolhardy.