The Sun.
London, England, 1846-10-28 00:00:00

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TATIONAL LOAN FUND LIFE ASSUR
ANC!: SOCIETY,
26, CORNIIILL, LONDON.
Capital £508,000.
Empowered by Act of Parliament.
This institution embraces important and substantial advonts4c
respect to Lira Assurances and Deferred Amtinities. The wore.
has, on all We:l44llS, the power to tairrow, without expense or for
feituro of the PoLey, twig:tints •f the ureiniunts paid (see Table)
also the option of selecting benefits, and the conversion of his in
terosts to meet other conveniences or necessity.
Assitrances for terms of years ate granted cc the lowest possibl
rates.

DITISION OF PROFITS.
The remarkable success and Increasimr prosperity of the Societ)
has enabled tho Directors, at the last anunal ItirestigAen, to limier,
a fourth b•nus, v.trying from 35 to 25 per Cent. au the premiums palr
m each Polley effectod es the Profit scale. •

EXAMPLES.

1£217 16 .1 £lOO 0 11
192 2 0: 87 1 4
165 11 IS 74 1 9
. 116 7 6' 14 •10
111 6 $j 491• •

F. <7
;1? Pretaiwta Bonus Bonus to g Assured
t ti added. Cash. re o a way
y x Borrow.
•

X N. i.
1000 2 4

118371
181
1839
MO
1341

!Xl6 0 4'.£445 0 c
13 2' 395 11 1
II 3 II 346 2 3
7 13 lei 294 13 4
710 4! 247 4

The division of profits is annual, and the next will be made in
December of the present year.
F. FERGUSON CAMROUX, secretary.

NORTH BRITISH INSURANCE. COM
PAINTY.

Established in 1809, and Incorporated by Royal Charter.
London Offices-4, New Bank-buildings, City, and 10, Pall-mall Eust
Chief Office-64, Princes-street, Edinburgh.
Capital, One Midion, fully subscribed.
PRESIDENT—HIS GRACE THE DUKE OF SUTHERLAND,
LONDON BOARD.
SIR PETER LAURIE, Alderman, Chairman.
FRANCIS WARDEN, Esq., Deputy-Chairman.
Alexander Cockburn, Esq. Charles Hertslet, Esq.
John Connell, Esq. Isaac Sewell, Esq.
William Petrie Cranfurd, Esq. Walt. A. Urquhart, Esq.
John Irving Glennie, Esq. George Webster, Esq.
BENJAMIN BOYD. Esq.} Resident.
MARK BOYD, Esq.
Prospectuses, with Tables of Rates, and full particulars, may be
obtained of the Secretary, 4, New Bank-buildings, and of the Actuary,
John King, Esq., 10, Pall-mall East.
HENRY T. THOMSON, Secretary.
_ .

IRELAND.
DUBLIN,OCT. 25.—There is little or no intelligence
in the provincial papers received to-clay; and, as a num-
ber of hands are now actually employed by the Bnar,l of
Works, and measures are being taken to insure speedy
and profitable labour in those districts where the demand
for it is most urgent, it is to be hoped that ere long—
no mischievous influences interposing—the accounts will
be of a less gloomy character than they have uniformly
been for the last three months.
The Navan Relief Committee having memorialised the
Board of Works for an increase of wages to the labourers
employed by the board, received the following very
proper reply:—

-"
Office of Public Works, Dublin, Oct. 17.
"Sir,--I have to acknowledge the receipt of the me-
morial of the board of guardians of the Navan Union,
praying for an increase of wages to the labourers em-
ployed under the Board of Works.
" And in reply I am directed to inform you, that the
Board earnestly press upon the board of guardians the
advantage which will result, not only to the country,
but to the labourers themselves, from the adoption of the
measured work, by which alone higher wages can be ob
tained, and trust they may call on the board of guardians
for their aid and co-operation, and for their influence in
explaining the subject to the people.
" I am, Sir, your obedient servant,
"JOSEPH C. WALKER, Secretary.
" Henry Meredyth, Esq."
Mr. O'Connell had published in the Cork Reporter
very long address to " The Steadfast Moral Force Re.

peelers of the City of Cork," in which he expatiates upon
the advantages of moral, over physical force, and dis-
cusses with extreme prolixity the resolutions in favour
of " Young Ireland " which had been carried in Cork.
He thus concludes :

" For the present, I content m}•self with declaring
my unalterable adhesion to the full strength, form
and pressure of the moral-force doctrine. For two
reasons

"First.—My thorough conviction that political in-
stitutions cannot be safely, wisely, or securely amelior-
ated by any other than moral and peaceable means.
"Secondly.---That any concession now made to the
Young Ireland party (if there were to be concessions at
their side, which they have not been asked for) might
easily be construed by a Dublin jury into an accession to
a principle involving deep guilt.
" The Association, therefore, cannot concede ; and, if
it could, it ought not ; leaving time to develop the fatuity
and folly of those who now seek conciliation by lauding
and maintaining! those who are in the wrong—namely.
the supporters of the physical force principle ; while
they assail and vituperate those whom they admit to
be in the right—the maintainers of the moral force
doctrine."

RAIL WA Y INTELLIGENCE.
YORK AND NORTH. MIDLAND.
Y.. itx, TUESDAY. A special general meeting was
ield yesterday, at the De Grey Rcoms. The meeting
vas very numerouslyattended, there being not less than
;00 shareholders present.
Mr. IlunsoN, M.P., presided, and said---The object of
!IV first resolution was this : we issued a c)rtain quantity
of shires in contemplation or obtaining an Act, but in
pplying for that Act, instead of depositing the money
ve did so on a declaration, and therefore by adopting
his resolution you will only be confirming what you
Lye alroa ly dote:. Th., seeing resolution, I think,
•xplaina itself ; -the object of it is to provide re- a mil-
ion of money, which we shall have to pay for the Hull
tad Selby line in 1850. By that means we shall take
:ertain shares at such prices as the directors shall think
troper out of the market, and thereby present the ne-
...ssity of calling upon you to pay a milli rn of money in
'tie day. The remaining part of the resolution, or
.:ether series of resolutions, provides for the debt of the
enpany, 500,0001. or .600,0001., by making it capital in
850, when the poaition of the company will be such as
cc enable the directors to continue the dividend on an
ncreased capital ; it will then be added to the York and
North Midland capital, We guarantee not less than 6
..er cent. ; if we are enabled to pay more you are en-
;Wee' to it, but we shall not give less. Of course there
would be a natural anxiety among the shareholders to
know, after this increase of capital, what will be the
total amount of the capital of the company. 'I have
4ated at different-times the total length of miles possessed
ty this company; but I will restate that, as it may
aot be in the recollection of every shareholder whom I
lave the honour of addressing. I will shortly state our
position, and then you will be able to judge of our
-uture prospects. Including that capital, ,which the
lirectors anticipate will be authorised to day, the total
'mount of capital will be 4,721,2501, and the total
iength of railway,under your management will be 306,
he average cost per mile being 15,4001. The length of
-ailway at present 'in 'working operation is 165 miles,
.vhich includes thirty miles of the Hull and Burlington
age, and' also the six miles of the Filey branch. Still
should mention, .that although these Awo branches
lave been opened, they have not been as. yet used for
merchandise traffic, to any great extent so far, and
herefore we may consider them not completely opened.
•)n the Ist of July in the next year the amount of the
,umber of miles will be increased by nearly 100, that
1, we shall have 97i miles to open on or before that
.teriod, winch will materially add to our revenue, and
nest materially extend the company's powers and our
aeans of.paying you your
.dividends. The directors
hink that in all probability the Leeds and Selby shares
.vill be called up in the,course of that time, viz., before
July next, togetherwrith 5/. upon the extension shires,
4nd a certain sum on- the East and West Ridings.
We propose that the whole of the stock, after
.he Ist of July, whatever may be the sum called
ip, shall receive dividend alike. We hope that
;hat dividend will be ten percent.—(Applause.) don't
feel any, doubt myself—l would tell you if I did—
.hat it will be in.the power of the company, when all the
noney is capitalised afid'called up in 1850, to pay the
lividend which you now receive upon the Yolk and
North Midland Sri/Ices. I have no doubt whatever that
m the money called up before the Ist of July next you
will receive in the following half-year ten per cent.
lividend. I feel no difficulty or hesitation in telling
you that- the York and-North Midland proprietors are
'ichly entitled to receive that dividend. We made rail-
ways when no one else would embark in them. We em-
sacked our money in the Scarborough line, when almost
!very person thought it would be an unprofitable under-
eking—an undertaking which has been described by
me who claims some eminence in railway matters, as a
fine totally destitute of traffic, merely running to a small
fishing village in Yorkshire, and constructed by the sur-
Aus capital of the company. I need not say to you that
.he Scarborough is one of the best paying lines in the
kingdom.—(Applause.) But then you made it at a time
when no person was making railways, when all hands
were tied up, and- When the country at large seemed
otally disinclined to embark its capital in these under-
r.akings. The consequence was, you made that line when
usbour was cheap, and you bought your iron at some-
:hing like live guineas per ton ; nevertheless, it ought
Jot to be thought unfair that you should reap the reward
.f the enterprise and courage with which you undertook
hat work at that time. I state these facts, because I
think they cannot be-- too often put in print, or placed
!)efore the public.—(llear, hear.) There was a
ime when these- undertakings were great specu-
ations, and if, by your enterprise, and by the confi-
lence which you have reposed in the board over which
I have the honour to preside, you have been induced to
embark your capital,,l think no person ought to find
'cult with your receiving from the capital the reward
vhich I have always thought was the great principle of
.ommercial enterprise.—(Applause.) But whilst ycu
have received an adequate remuneration for your ca-
ital, we have given increased facilities, not only as re-
;tads an increased number of trains, but in every way
e; regards the mana,„eement of our truffle, beyond what
-dated last year. Among other things we have given
co the public, at all the principal stations, an opportunity
)f taking day tickets, which of course has affected
,ur revenue to a -militia extent, yet the public have de-
dyed great advantages, and Ido not think it improbable
hat along with the 10 per cent, which you receive, the
public will ere long receive a further considerable re-
duction of fares on the York and North Midl .nd line. I
ttn sanguine enough to believe that the traffic will so in-
Tease by the opening out of a large extent of country,
chat whilst we shill be enabled to pay you 10 per cent.
von the capital which has been employed in the con-
,truction of the branch lines, the public will receive that
which we are pledged, but not bound by law, to give
them. As an old-company we are not bound by law; I
,ay that we are pledged, and it is my anxious desire, as
t ever has been, that while you as shareholders receive
hat dividend, which the Legislature and any reasonable
nan does not think an unreasonable dividend upon
speculation of this kind, the public should
also
Ie
board at the next half-
may mention that it is
he
yearly meeting to propose to consolidate the stock
tion benefited.
of
th
..f the company,..so that any one may buy stock instead
4' shares. The adoption of that plan by the Midland
Company has been found to be productive of great faci-
ibneten
.ity, and I think it-would be to the interest of this com•
any to do the sump'. Our applications to Parliament in
he next session will be very limited. There will be one
.0 improve our terminus at Harrowgate, and arrange-
.nents have already been made of a satisfactory nature,
.vhich will enable us to have an excellent terminus op-
„tosite the Brunswick Hotel, which, as any one acquainted
vith the place will know, is one of the best localities in
.larrowgate. We shall also have to apply for a Bill to
mable us to erect- a new station at Hull, an eligible site
or which, and one which has been approved of by the
whole town, has been selected. Every one in the habit
,f visiting that town will be aware of the inconvenient
and bad arrangement of the present building ; besides,
we want the present building, and more if we could have
It, for our goods-traffic, which has so increased, and will
still further increase that if we could obtain additional
room, it would be advisable for us to do so.—(Great
applause.) There will be one other Bill. You will re-
nember we subscribed a certain sum to the Ax-
:mire° line, from Gainsborough to Goale, and we in-
tend to apply for that Bill again. We should have
)btained it last session. but
,for the defuctive manner in
which the levels had been taken. I must state, however,
.hat no fau:t in this respect attaches to the engineering
staff of the York and North Midland Company, because
that line was brought out by an independent company,
with whom we thought it better to unite, as we con-
,emplated constructing a line in that direction ourselves.
%,Sr e shall, therefore, again apply fur that Bill, as the
rock and North Midland Company have a larger
amount of stock in the-undertaking than wo had before,
,n account of the retirement of some of the shareholders.
l'here are, howev, r, some of the local proprietors who
,till hold their interest in the line, andthey are to re-
give 4i per cent., with half the profits. With these
-xceptions lam happy to say we shall not hive any ap-
Olieitions to Parliament during the next session. Gentle.
men, the resolutions which I have read are those which
I shall have the honour to submit to you, and if I hare
not explained them sufficiently—if you wish for further
uformatton, I can only say that it will afford me the
utmost pleasure and satisfaction.
Mr. Love. then asked after •what rate the calls upon
the West Riding shares would be made,
The CRAIRMAN—We are letting immediately thirty
tales of these lines, which a e hope to open next June
July, and at all events a call of Si. will be made, if
not more ; but whatever is called up will, on the )Ist
December following, feceive its 10 per cent, The di.
rectors are, of course, satisfied that they can do this
without a doubt. I would not have told you if we
had not been without doubt or hesitation on the sub-
ject.—(Applause.)
Mr.
before the Lovz—W
'• I the
year?old Selby shares be called up
Ist of July next
The CHAIRMAN—Certainly; but it may be in Ja-
nuary, as we want to get the stock consolidated. As
long as we could borrow money at 3i per cent,, it was
advisable to do so; but when we Come to be asked 4 per
cent., or a little more, then it ceases to be advantageous
to us to have that borrowed money, and hence the ne-
cessity for a call upon the shareholders. These shares,
I think, ought to stand as well, if not better, in the mar-
ket, than the old York and North Midland, and probabl3
it has been an injury to them that the money has not
been called up. The holder of these shares you see
gets 6.per cent. upon that which he has Lever paid up.
;mud this is one of the things whichit is thought by Par-
liament is not placed on proper footing, and perhaps it
may be so.
Mr. MOOR. of Hull—Have the Manchester and Leeds
Company decided whether they will participate in the
purchase of the Hull and Selby line, and does the new
teraelnte the provision of the
stock now spoken of eon k ,
whole or only half of the capital required for that pur-
chase?
The CHAIRMAN—One-half at present, and if more
'
should be found necessary we must have another meet-
ing. The Manchester acid Leeds direftors have had a
leements will bo made very
meeting, and I think arral.,
Itgives satisfactory to both companies. rile great plea-
sure to say so. There was not dissentient
a. voice, all
were agreed, and I hope that the result will be the means
Of immediately eniting two powerful companies together.
I am, and always have bechf 4
an 1011 S tQ enitieete she