The Sun.
London, England, 1869-08-17 00:00:00

"eceullt to present, but we also know that we take special
care t° pick our lives, and 1 think we may congratulate
ourselves on the evidence afforded by the prosperity of the
c,°lllPany that that has always been the principal care of
""hrectors, and unles; we were careful in the selection
of lives our profits would very soon diminish. (Hear
hear). Ido not know that there is any other subject to
which I need call your attention, but if anything strikes
a°Y honourable proprietor, if he will ask the question
before the i
report is adopted, I hay e no doubt we shall
be able to give him a very satisfactory answer. Gen-
(Cheers.) (Cheem)beg to move the adoption of this report.
Mr. R. A. GRAY seconded the motion.
Mr. SEYMOUR TEULON—I do not like, sir, that the report
should be put to the meeting without expressing to the
directors and to the proprietors my hearty congratulation
°4 the manner in which the accounts are stated on this
,i,"asi°l3. We have, I think, more information than we
hitherto had ; and I am perfectly certain that the
board have done right in giving it, and that it must be of
advantage to the company. At the present time nothing
is more necessary to make a company stand well with the
Public than that its accounts should be perfectly clear. I am
tre
.) lad to find that you have adopted this course. (Hear,
I have only just had the account placed in my
Ends but I am so satisfied with it that I could not let
1.11:as
°l)Portunity pass of offering 11. y congratulation to the
prietors on the mode in which it is stated. I quite
gree with you, sir, that it is a very pleasant feature in the
histePi°rt, that the premiums exceed the death claims on
policies. That is most gratifying, because it shows that
e business is progressing literally as the business of an
insurance office should do; and that the vast amount of
lirc,„„
„F under the guidance and under the protection
the court of directors has been well looked after,
and is reproductive, On that point also I have nothing to
offer but congratulation. I heartily support the adoption
of the report.
Mr. STREETER—May I ask what was the average rate of
Interest realised on the investments last year ?
The CHAIRMAN-44 2s. per cent.
Mr. STREETER—You do not happen to know what it was
ih 1867 ?
The CIIAIRMAN—Mr. Jellicoe tells me it was about the
same.
belle r• STREETER—The question of interest, which has
Much talked about lately, is very important as regardsee
--srah companies.
th",.r. EAU
-ER—Our securities are all of that sound nature
' we cannot expect a very high rate upon them. The
!Guiltiness of the investments, of course, makes the rate of
Interest low.
sit Mr. STREETER -Our investments are like the "sweet
hplieity of the Three per Cents.," I suppose.
The CHAIRMAN—They are perfectly safe.
The report was then put and carried unanimously.
1911 the motion of Mr. TEULON, seconded by Mr. JOHN
,alutT, the retiring auditor. (Mr. Henry Rose) was re-
elected.
CIIA'RMAN mentioned that the dividend would be
distributed on the first Monday in October as usual.
4 cordial vote of thanks was then presented to the
ch
+,'_tiPalan and directors for their efficient management of
" business of the company during the past year.
The CHAIRMAN, in reply, said—Gentlemen, on my own
if and on behalf of my colleagues, I thank you very
,I,llo°ll for this kind expression of your feeling towards us.
1„. bet supported by our proprietors as we are is a stimu-
"l°r he to do our duty as we conceive it should bo done,
and this recognition of our services is the greatest plea-
%are° We can receive. I can only say that we shall carry
v_ Bathe care and I hope the same success into our opera-
tii;:luehettesufroe of
rthe future; and I trust that we shall have the
meeting you next time with an equally agree-
staiv,blb_
balance-sheet, and under equally prosperous circum-
a, 'vs. (Cheers.) lam myself deeply interested in the
a',r,°seerity of the company, and I therefore naturally with
my heart wish it prosperity. (Hear, hear.)
A. cordial vote of thanks was then passed to the officers
° the company, and the meeting separated.

MONEY MARKET

AND
COAIMERCIAL INTELLIGENCE.

In the Stock Markets t(2O-frdaYy ,Two o'CLOCK.
business has been
but the topic of discussion is the decision of
the committee to admit to official quotation the
whole of the £32,000,000 ofSpanish Three per
Cent. Bonds, part of which were neuotiated in this
Market in April last. It is contended that
Stock
decision is invalid under the 58th rule of the
Exchange.
Consols art quiet to-day at 92i a for money;
ditto, for Account, ; Three per Cent. Re-
duced, 93 ; New Three per Cents, 93 f.
India Stock, 10 per 1 Cent., April, 1874, —;
ditto 5 per Cent.,
July,
1880, 112 ; ditto 4 per
Cent., Oct., 1888, 100" 1 ; ditto Enfaced Paper, 4
per Cent., --; ditto Debentures, 1031.
In the Foreign Market prices are lower.
Turkish are (1862) 85 to 87 ; ditto (1865), 68 to
GO ; ditto (1862), 66 to 67 ; ditto (1865), 664 to
; and ditto Ev l
' )er Cent., 44 to 44i;
Spanish New Three per
Cents., 28:1 to 29 ; Mexi-
can,
12 to 1:21; Italian Five,..ptr Cent., 55A to ozi ;
ditto Tobacco Loan, 861 to 811- ; Egyptianr_ (1864),
901 to 911 ;di i ;ditto (1868), 76i to , and Argeu-
gine. Six per Cent., 791 to 80.
againlii
fallen theßailway
to-day.
a itlowayaSkhare Market Metropolitans have
Great Westerns are I lower,
and Lancashire and Yorkshire, and London and
Brighton, I each. The quotations are marked as
•.—Caledonian, 81 to 811 ; Great Eastern,
.?,81- to 381 ; Great Northern, 106 to 107 ; Great
Aorthern (A), 1051 to 106 ; Great Western, 51}
52; Lancashire and Yorkshire, 126 k to 127 ;
Tendon and Brighton, 441 to 444 ; London, Chat-
hLunt and Dover, 161 to 161 ; London and North
Western, 118 to 119 ; London and South Wes-
°,ll 88 to 89 ; Metropolitan, 951 to 96 •, Midland,
1158 to 1181 ;
North Eastern (Berwick), 1141 to
and South Eastern, 76i to 771-.
111 Bank Shares there is a trifling rise, Oriental
131 tooi ; London Joint Stock, 30} to 311; and
Unio London, 351 to 361.
In Miscellaneous Securities little business doing.
4llitlson'
1 s Bay are 121 to 13 ; General Credit 11 to
-Ns# dis ; International Finance, 2 to 11 dis ; and
ational Discount, 101 to 11.
The
sum of £71,000 in gold was taken to the
Ban
yesterday.
rTh e Committee of the Stock Exchange have
anted unconditionally a settling day for the last
Pahish loan. There were exceptional reasons why
o settlement might be considered justifiable, but
n.
bheae reasons should have accompanied the decismitting to set them forth as grounds for their
ateßetaiollowutehd
e committee have virtually annulled theiri.o
b-th 'rule' Which stipulates that no settlement shall
for new loans of any nation which has
jacitsatisfactorilyarranged with its previous creditors,
aonf d,the committee have thus deprived themselves
amiost the only function that gave their boddy_
t,,1 weight With the public. Henceforth the cre
Cr,s Of defaulting States must look only to the aid
aide derived derived from the force of public opinion out-
Acf the Stock Exchange.
raai4.tevle,?ratn.
posted at Lloyd's announces that the
1, 41 inch were supposed to have been lost in the
beea
'wreck of the Germania off Cape Race have
,I,lentirely saved, and will be brought by the
htliabria, which is expected at Plymouth onFriday.e
44; specie
,likewise has been nearly all recovjrhedni
l< this has been deposited in the bank at St. 0
~v,? Brunswick, awaiting the salvage claim.
Corn.
liall".he report of the Brazilian Street Railwahy
pi, 3- (Limited), to be presented on the 30t
le:Pes a dividend at the rate of 10 per cent.,
pr,-Rill,g £717 to be carried forward. The actual
Was at the rate of 14 per cent. per annum,
lat, and Would have been 18 per cent. but for the do-
Par in the rate of exchange, consequent on the
cslial,gliaYan war. An extension of 21 miles, which
tvc effected for £lO,OOO within a few months,
issureaglY recommended, and it is proposed to
awe new shares to the amount of £20,000 for that
il°ther
purposes.
(Lireport of the New Bank of Bombay
ghotnited), issued at Bombay on the 20th ultimo,ainowed the net profits for the half-year to hive
centuated to 32,246, being at the rate of 121 per
the
rPer annum, and recommended a dividend at
£15,040t0e. of 6 per cent. per annum, absorbing
pa'ellhe difficulties of the Albert Assurance Coin-
ttovYi are creating some disquietude throughout the
it t:ees) in. consequence of the numerous agencies
sell'e,-seBsed• It is to be hoped that under the
aide;"! cf reconstruction the business will be con-
teekia°lY reduced, and that the old system of
will istig everywhere and anywhere for assurances
sinking abandoned. The office has been gradually
tot for some time, and therefore the result is
uuexpected.
At the
ttAltu. 4alf-yearly meeting of the Bank of Aus-
-"14 4 diNidelld the rate of 6 Per cent, per