The Sun.
London, England, 1846-04-23 00:00:00

Ti Q dlxision of proetta is manual, and the next will be made in Dc-
u
-,:tr of tb.e present year.

F. FF,RGIT‘OIT CAMEnI7I7. :

VONDON, EDINBURGriT, and DUBLIN
LIFE ASSURANCE COMPANY,
fLA
3, Charlotte-row, 3lansion-house, London.
RICHARD SPOONER, Esq., M.P., Chairman.
BENJAMIN (FILL, Esq., Deputy Chairman.
THIS IS THE ONLY GUARANTEED MUTUAL COMPANY,
those assuring on the participating principle ha'. ing the security of a
jolut-sto k company, and being entitled at the same time to the
whole of the mutual profits.
THIS I.S THE ONLY COMPANY who are bound by their deed
of constitution not to dispute any policy unless they eau prove that it
was obtained by fraud, and for title purpose the Company have, I),' a
clause in their deed of constitution, unhesitatingly deprived 'them-
selves of the power of objecting to any policy unless they undertake
to prove that it was obtained from them by fraudulent misrepresen-
tation.
THIS IS THE ONLY COMPANY who hind themselves to pay
the full amount of the policies, although the debts for which they
were effected shall have been liquidated before the claim arise.
THIS IS ALMOST THE ONLY COMPANY who grant in favour
of creditors' whole world policies, whereby the debt is secured,
although the debtor should go beyond the limits of Europe.
BY THE HALE-PREMIUM PLAN only one-half of the first
seem years' premiums is required, the other half being payable at
the convenience of the assured, thus allowing a policy- ho be con-
tinued for seven years at one• half of the usual rate, or to be dropped
at one-half of the usual sacrifice.
A reductioc of 25 per cent. has been declar•d upon the current
yeaT's prenutuns of all participating policies of five years' standing.
Copies of the last report, prospectur-es, end all other information,
may be obtained from the manager or agents.
ALEXANDER ROBERTSON, Manager.

THE EXPRESS
EDITION.

SG FF CE, past Eight.

IMPERIAL PARLIAMENT

(THIS EVENING.)

HOUSE OF LORDS.
(Continued from our Ti.ird
RELIGIOUS DISABILITIES ACT.
The LORD CHANCELLOR gave notice that he would,
on Thursday next, move the second reading of the Act for the
repeal of r.ltgieue di abilit et=.
THE RAILWAY BUSINESS OF THE SESSION.
Lord DA L 0 USIE, in rising to introduce the Bill of which he
had given notice ou the last evening of their Lordships' sittings
together with the sessional °Het, would detain them but a
very short time in opening up the provisions of
the Bill, and stating the grounds on which I:e
would ask their Lordships to sanction it. On the
evening on which they had adjourned for the recess he had
taken the liberty of stating to their Lordships what was the
subject to which he wished to direct their attention, and to the
complaints which had been made by individuals connected with
railways, setting forth the evils complained of, and the pro.
posiion which he intended to make with a View of remedying
them. He had endeavoured then to trace the pro-
gress_ of the rise in .speculation on railway undertakings for
'the preceding year, but now he woted take their Lordships a
little iurther back. He hail stated then, that in the last year
not has than from 1,200 to 1,300 railways had ten provision-
ally registered as joint-stock companies, and out of this number
there had been deposited with the Bo,ird of Trade, on the 30th
November, 800 plans, which on the very last day had only
diminished to 7.0.. He (Lord DaUtousie) had, at the
commencement of the session, thought it his duty
to direct their Lordships' attention to the subject, 'and since
that time the expectation of the public with respect to rail-
ways had entirely changed. It was exiected at that time, in
the first place, the test of the deposits would greatly reduce the
number of Bills which stood for the consideration of Parini-
merit, but nevertheless a sum within a fraction of 15,00,000%
was deposited with the Accountant-General. It was
also thought that in consequence of the extraordinary
rapidity with which these schemes were got up that the stand-
ing orders would considerably diminish them, but that Com-
mittee hail only breathed light as a zephyr upon them, and the
number reduced was therefore only twenty. It was now dis;
• covered that in consequence of the application of the enormous
amount of capital to other branches of commerce, an uni-
versal competint was pouted in from every part of
the country, and these cemplaints were not merely
confined to those engaged in the ord,nary commercial pursuits
of the country, but extended to the very persons vho were
themselves concerned in railway speculations. It would not
he necessary for him to enter into many details on this subject.
Their Lordenips would see by a reference to the stock of the
various companies that what he had stated was true • and that
now, so changed was the public opinion on this subject, that
the prof ets which were the more likely to pass the house
were thine which were most viewed with apprehension ; end in
proportion as the scheme advanced through Parliament the
index of the barometer receded until it got down to zero. He
had stated on a former evening that it was often replied to
those who thus complained, that they should dissolve their corn-
panics ; but this they were unable to do. because they had not
yet been constituted joint-stock companies, and unless
those who held scrip were to give an unanimous consent the
scheme must eo on to completion. Their Lordships would
see, that in consequence of the difficulty of getting this unani-
mous consent in a Company composed of such vast number,
Parliament was neeessardy obliged to interfere. The Bill
ofwhich he nbiaui wbi held
et tzi
gnd
yhi s t
o their hf d L and
apptytiig
or tohrids.
b ,which he h
a evil bdy f
giving
have
obj(the
honour the
power
io a certain number of the shareholders to dissolve
their projects. Vs ith their Lordships' permission he weuto
now proceed to state the provisioi a of the Bill.
On the requisition being pi esented to the chairman of a com-
pany, and the meeting called in pursuance of the provisions of
the present Bill. then the question 01 diSSOlUtiOn shall be I,ut„
and the business of the meeting confined to that alone, It is
provided before the meeting takes place that due an-
nouncement of it shall be made in the newspapers and in
the " London Gazette." so as to give notice to all pars
ties interested. Regulations are pri.erided for the appoint-
ment of chairman and the regulation of the business;
boruitgibneafloraeli:thteeev:stoeris taken scrutineers shall see that the vote
ibms),,peir,troioinixegyr,itydhu;:eaattlit.:7,tfelvt'(hoihe actual holsters of stock, whether the
shall be
,estebisetatkor,trbieeesbrwho have'purchased the scrip,
e
tellieig
jiboliieutsolovcoktec,
ca,nrudratiri,eity-smay either vete in person or
accord-
ing to this scale of the whole stock Act.o
forwarded''eignuglated
repre-
sented at. the meeting, should be competentaccording
lo b et
ou.t!heedia)rtotvtii
At hce etaor
company,ma o
declareri majority
fa rdeev
o-
company ; or if the whole stock is not represented,
lution of the
then of the stock for which the vote is taken three-firths shall
be sufficient to declare a dissolution of the company--
that three-fifths represented at the meeting. being not
lees than one-third of the whole stock of the company.
By this Bill it was understood that at least one-third of the
proerietary of any Company -hould be necessary to its disso-
lution. The object they had in view was that. they should not
allow any Company to proceed in which the funds were likely
to be destroyed by
refor te interests of a few.—(Hear,
It tvas, the he, provided that on the resolu
hear. )
Company should be invested in the
such
the effect of the Bill which tion of any Company to dissolve,.ehho had
debiaattio
ttprhureostie,fouesnsedsatnoodf
their
t the .ame time it should
reeely to put in their claims, but a.
i ht be made liable
be realeeted that certaln parties m g
,Lordships. He He was aware that certain parties would be gum.
render both parties
the effect of this Bill was. .to _
only liable according to their individual responsibility. H.
for detes to which they were only parties in common. And
swhaosualr
haraevetlitabet,
right
tr
ncferwtaiindiu
circumstances,ngu
thei
r
should have the right of winding up their affairs under the
sessional order ; but if the measures which they propose
should meet with the approbation of their Lnrdships, an
er d
if it should inset with the approbation of the oth
House of Parliament, that they would accede to the
the a --sobo.tion of the clued
stop to any scheme which had tot Pi
rwemeds te n
aohf
lethtlete
anxious for, was, that
Gsh°avrerbao'lndeenr shareholders to employ plgoiyveth suchte t pourers
a;
proprietors of the scheme. What he w
not approve ; but, at the
stop to any scheme of which they did
oprieters of rive,
the majority of the proprietors., eliould3.abe enabled to put a,
same time he felt it neepseeey to render the pr
schemes a power of adjudieat;on. Be believed that a seietore nsithe
blt
recess, although he was aware that a change took place from
benefit would arise from this change. On tie evenin
day to flay in the state of these com.anies, that a great ad-
vantage would be obtained, yet, on the evening of the recess,
he had moved, that on the presentation of a petition, the re
spective proprietorship of the shareholders should be taken
tutu COlUideratioll; and that, ott
.0 decision of a majority, the