The Sun.
London, England, 1860-03-29 00:00:00

THE SUN, LONDON, THURSDAY EVENING, MARCH 29, 1160.

BRITISH POSSESSIONS..

i
Share) Railways. paid. Closing ,_ lAs obsess done
Price. I
100 5 ;Atlantic &St Lawrence' all 86 88
/ I Leased at 6 per cent
i Stk ,Bom.,Baroda&Cent.lnd 1 10, 97 98
I gu. 5 per cent
-- Do. Addit. Capital A
18 Do. Do. B 11 , id i d
24 ,Butialo and Lake Huron el 5 51d
201 Do. IS,- w
10 Do. Fr( ference
ion f' 130tIalo.Brant.&Godrich / 100 k ,
87
- --
6 P. en 1.0.15. 1 Aug., 1872 ) ';'"
100 Do. do. 1 July, 1873 100 73 78
106 :Do. do. 1 June, 1874 100 70 75
6 'Cleutta.&S.Eastrn.Lim.'l. 30. par 1 p
20 Cape,Eastn. Prov.(Lim.), 2s.
20 ,Cape Town & Dock Scrip; 3s. 11 i d
20 Central Oude (Limited)'3s. Od
20 Ceylon Guaranteed 6p.c. 7 11 i d .
171 Demerara
20 Eastern fiengal.g,u.sp.c 5 fd }d
Stock East Indian, gu. sp. c lOO 102 1.021 102 1
20 , Do. F Shares Ext lO it IP
20 I Do. Jubbulpore lO i p 10
100 I Do. 41 p. c. Debentrs l all 1100 1001
Stock' Do. 5 p.c. Deb., 1864 E 100 1102 1021
20 Geelong&Melbourne
Sto.
Geelong Corporation 6 lOO
per cent. Bonds
Stock 'Grand Trunk of Canada 100 j 34 36 341
100 IDo. 6 per cent. Pret all 193 94 93
100 Do. 6 percent. Debentr all 72 74 73
100 Do. 7 per cent. 18 62
100 IDo. do. 1867 ; all 173 75
100 Do. do. 1872 all 72 74
Stock GLlndiaPenin.gua.sp.e i 100 991 99} 991
20 I , Do. New,l.,-,ua.5 per cent , 6 id i d
20 c IGt.South. of Inci.Lim.— lO 1 fd
guaranteed 5 per cent.
201 IGt.W. of Canada Shares all 121 131
201 Do. New , 18 7
100 I Do. Bonds pay. '76,withil 1
/ opt. till '6O
all 98 100
100 Do. do. '73 till '6O 1 all 98 100
100 Do. do. ''3 without opt 11 all 98 100 98
100 Do. 51 p. c. do. '77 do
Stock Madras, guar., 41 p. c lOO 88 92
Stock Do. do. 5 per cK.nt lOO 97 98 971
Stock Do. 41 p. c. Extension lOO 91 93 91
Stock Do. Third Ex. gua.s.p.c lOO
20 Do. Fourth do.
20 Do. do.
Stock Melb. Corp. 6 p.c. Bonds 100 -"-
Newßrunswick&Canda.
20 ( Ry.&Land(Lim.)g.6pc all 5 7
Class A Capitl.Share
I Do. do. Land do
20 Do. do. B. Capital do
.. Do. do. Land do.. all 5 7
20 Oude (Limited) *l
ss.
20 Scinde
20 Do. New g 15 id 4 d
20 Do. Punjaub
20 Do. Indus. St. Flo wig all 181 191
20 St. Andrews & Quebec A 18
10 Trinidad(Limited)Scripl 1 fd par
_ __

FOREIGN RAILWAYS.

PROTECTOR ENDOWMENT, LOON,

AND ANNUITY COMPANY.

ANNUAL MEETING.

The ordinary annual meeting of the shareholders
in this company was held at the offices, 34, King-
street, Cheapside, yesterday, for the purpose of re-
ceiving the report of the directors for the past year,
and the election of officers in place of those retiring,
in accordance with the deed of settlement.
The chair was occupied by ALFRED SMEE, F.R.S,
chairman of the board of directors.
The routine business having been disposed of,
The CHAIRMAN called upon the managing direc-
tor (John Beadnell, Esq.,) to read the annual
report, which was as follows:

" It is with much pleasure that the directors again meet
you in order to submit to you their yearly account of income
and expenditure, together with their report of the operations
of the company for the year which terminated on the 31st
December last, and also for the transaction of the ordinary
business required by our constitution. The directors who
stand next in order for retirement on this occasion are
Frederick A. Daviss, Esq., and John Beadnell, Esq., and
as these gentlemen have both expressed their willingness to
continue their services as directors, it is recommended that
their names form the list to be elected at the present meet-
ing. It being also provided by our constitution that all the
auditors retire annually from office, George 11. Ladbury,
Esq., Joseph Williams, Esq., and James L. llancock, Esq.,
now retire accordingly. All are again eligible to the offices
they now vacate as auditors, and are willing to contribute
their services in the same capacity for the current year.
(The statement of the company's income and expenditure
was then read). A printed copy of this statement has been
duly forwarded to each of our shareholders, and we have
now only to add the few following remarks on one or two
departments of the business. In the loan department it
will be seen by the printed statement that during the past
year £26,276 have been advanced; and we may here further
state that at the close of the year the whole amount which
was out on various securities amounted to somewhat more
than £45,400. As this department forms so prominent a
feature of the company's business, it will be interesting
and very gratifying to our shareholders to learn that the
present conditions and prospects of our loaning are ex-
tremely satisfactory. The best tests of this fact which wo can
adduce are-Ist. The very small proportion of arrears which
existed at the end of the year. And 2d. The little recourse
we have had to legal aid in recovering sums due, as shown
by the small amount under the head of Law Charges' in
our balance-sheet, not amounting in the whole to £22,
and which item includes all other legal charges besides.
During the past year we have reverted almost exclusively
to our first system of loaning, by which the entire sum
applied for is advanced, and the repayments are made
equal throughout, the interest and insurance charge
being equally spread over the whole. Under this system no
insurance premium is paid down at the commencement, nor
are the payments for interest larger in the earlier instal-
ments than in the latter, so that the first yeaes returns are less
than they would have been by adhering to the other method.
We have now had ample experience of both systems, and
being convinced that the former is the best adapted to a
company constructed like the Protector, we have not hesi•
tated to make the change at once—for though, by so doing,
the balance sheet which has been submitted to you is less
on its receipt side by more than £1,500 than it would have
been had we adhered to the system of the previous year,
this temporary deficiency will be more than compensated in
the present and following years' operations. The method
is decidedly more popular, a higher rate of interest is ob-
tained, and the system is far more simple and economical
in its management. In the deposit departmtnt both sides
of the balance sheet show that our transactions have
been extensive—nearly £19,000 have betn received,
and over £15,000 have been paid out during the past
year. The funds lodged with the company from time to
time have been derived from a great variety of sources, but
we are gratified to observe that a considerable proportion of
the deposits has consisted of moneys bequeathed by will
upon trust to be invested on mortgage, and which sums
have remained with us on deposit till eligible mortgages
have been found. This department of our business has
neither been largely advertised nor induced by the offer of
high rates of interest, it has rested entirely on public confi-
dence and the facilities afforded for its transaction. These
facts, coupled with the nature of the deposits entrusted to
us, afford a gratifying proof of confidence in the company,
and of a public appreciation of the advantages thus offered
for the temporary placement of funds at a fair rate of interest.
Our agencips during the past year have had our unremit-
ting attention. Several important additions have been made
to our list, and we have great pleasure in reporting that this
highly important part of our machinery is in an effective
and most satisfactory condition. The directors recommend
that the interest dividend on shares for the current year be
declared at the same rate as heretofore—namely, at 5 per
cent, per annum. In conclusion, looking at the very satis-
factory nature of the business transacted in the various de-
partments during the past year, and the present excellent
working order of the office, the directors consider the results
as gratifying with regard to the past and promising for the
future. We may add that, with our present experience and
excellent office machinery, we could now, without increase
of expenditure, well employ double our present capital; and
a large increase of capital, in our present condition, would
tend entirely and immediately to the rapid development of
the business, and an increased and further increasing annual
dividend to the shareholders."

The CHAIRMAN, in moving the adoption of the
report, said it was so full and satisfactory that
little comment upon it was required of him. It
was a source of satisfaction to find that the com-
pany was pursuing a course of uninterupted pros-
perity. Their chief business was that of forming
loans, 'and that object had been brought a such a
high state of perfection that improvenent seemed
impossible. Everything had been so carefully
considered and the machinery of the society so
admirably constituted, that loss was next to an
impossibity. The repayments of the loans granted by
the company were spread over three years, by which
meansimany a man had been enabled, by a loan from
the society, to establish himself in besiness indepen-
dent of everybody. In sickness, also, the company
stepped in and offered assistance. (Hear, hear.)
The spreading the repayment of a loan over three
years was a very important consideration to any
person standing in need of assistance. The way that
assistance was usually obtained was by resorting to
bill discounters, and immediately after that mental
anxiety arose from a fear of inability to meet the
bill on its arriving at maturity. But with loans
obtained from this society the case was altogether
different. A man had only to pay his instalments
regularly, and the whole amount borrowed was
cleared off in a given time, independent of legal
expenses and anxiety of any kind. (Hear, hear.)
Great as the business of the company was at the
present moment, it could be extended, and although
it paid well at its present capital, yet if double
means were obtained a dividend would be realised
as large as any shareholder had a right to expect
on joining a society of that descript:on. (Hear,
hear.) Hs would not detain the mee:ing by fur-
ther remarks, but would resume his seat by moving
that the report be received and adopted.
Mr. TYLER said he had very, great pleasure in
seconding the motion of the chairman,
The resolution was carried unaniriwasly.
Mr. WILLIAMS moved " That Frederick A.
I)aviss, Esq., and John Beadnell, Ese., the directors
now retiring by rotation, be elected totheir vacated
posts."
The resolution having been seconded was carried
unanimously.
Mr. HARRISON moved " That Geo. H. Ladbury,
Esq., Joseph Williams, Esq., and James L. Han-
cock, Esq., who retire, as prescribed by deed, from
their post as auditors, be now elected as auditors for
the current year."
Mr. TYLER sec;onded the resolution, which was
unanimously agreed to.
Resolutions declaring a dividend on the share
stock of the company at 5 per cent. per annum, and
awarding thanks to the managing director, Mr.
Beadnell, having been unanimously agreed to, the
proceedings of the ordinary meeting terminated.
An extraordinary meeting of the shareholders
then took place, at which a resolution altering the
time relating to periodical valuations of liability
from three to five years, was unanimously agreed to.
A vote of thanks to the Chairman concluded the
business of this meeting.

POOR LITTLE BILL.

(From Punch.)

(As sung by Lord John Russell, in his favourite character
of the " Fond Parient.")
Friends look cold and foes look scornful,
As I wheel my load up hill;
Meagre art thou and most mournful,
Poor little Bill !
Very tiny thy dimensions,
And thy points of beauty nil,
None to thee vouchsafes attentions—
Poor little Bill
Doctors call thee an abortion
Past all nursing sleight or skill,
Fall of rickets and distortion—
Poor little Bill !
Marked for fits, for croup, convulsions—
Spite of potion and of pill,
Syrups, sedatives, emesions—
Poor little Bill !
With ahead o'er-sized and waggling,
Legs no thicker than a quill,
Vacant eyes, and limbs a -straggling--
Poor little Bill I
Never mind, though all despise thee,
Love thy parient's heart doth fill;
E'en for thy defects he'll prize thee—
Poor little Bill I
With unwearied hand propelling
Thy perambulator still,
With paternal raptures swelling—
Poor little Bill I
Through each danger he will steer thee,
Deaf to prophecies of ill,
When all else look cold, he'll cheer thee--
Poor little Bill
Let them dwell upon thy weakness,
Damn with praises faint and chill,
He'll disarm reproach by meekness—
Poor little Bill !
From all critics ask suggestion,
Strength into thee to instil;
Bare thy meagre frame to question—
Poor little Bill I
Cut thee, carve thee, stuff or starve thee;
Lop thee, crop thee—all but kill;
Like a corpus vile carve thee--
Poor little Bill I
So he'll carry through his darling,
Spite of all that threatens ill,
Scorn of friends and foemen's snarling—
Poor little Bill I

PARLIAMENTARY DIVISION.

HOUSE OF COMMONS.—MARCH 28.
CHURCH RATES ABOLITION BILL.
Order for Committee read; Motion made and Question
proposed, " That Mr. Speaker do now leave the chair"—
Amendment proposed, to leave out from the word " That"
to the end of the Question, in order to add the words,
" this House will, to-morrow, rescdve :itself into a com-
ntittee, to consider the propriety of establishing in lien of
Church-rates, thenceforth to be abolished, a charge on all
hereditaments, in respect of the occupancy of which
Church-rates have been paid within the last seven years;
such charge to be levied with the County-rate at an uni-
form rate of poundage, the occupier being in all cases
entitled to deduct the amount of the charge levied on his
occupation," instead thereof—Question put, " That the
words proposed to be left out stand part of the Ques-
tion." The House divided ; Ayes 222, Noes 49.