The Sun.
London, England, 1860-12-20 00:00:00

HASTINGS COTTAGE IMPROVEMENT SOCIETr

We observe with pleasure the continued and
increasing prosperity of this society, which is most
usefully demonstrating that the promotion of sani-
tary reform and the improvement of the dwellings
of the poor need not rest on benevolent enthusiasm,
but is a work in which capital may find an adequate
remuneration. We have often noticed its opera-
tions in these columns. The seventh half-yearly
report now before us shows that the society has
now 108 houses and 122 tenants. The society's
capital has increased during the past six months
front £9,450 to 1111,950 ; the number of share-
holders from fifty-five to fifty-seven ; and the
average amount of each shareholder's investment
from £172 to £2lO. The price of each share is at
present £lO5, and is to be raised to £lO6, when
the capital amounts to £12,000. The balance in
hand, £1,504, is unusually large, and has been
ocasioned by two gentlemen having within the last
month applied for shares to the amount of £1,400.
During the past half-year the society's total income
has increased from £504 Os. 3d. to £651 18s. 10d.,
and the net income from £285 10s. Bd. to £389
ss. 11d. ; the gross rents have increased from
£404 lls. 3d. to £524 18s. 4d., and the net rents
from £2Bl 14s. Bd. to £376 14s. 7d. The arrears
of rent due to the society are inconsiderable, and
the loss from bad debts during the last six months
has amounted to 15s. 6d. The loss from empty
houses has been about £24 17s. The reserve fund
at the date of the last report amounted to £192
19s. 2d. The surplus of revenue to be added to
this fund at the end of the present half-year
amounts to £94 13s. 11d. From an examination
of the receipts and expenses of all the property that
has been in the possession of the society for more
than six months, it appears that the average
amount of the gross rents received during the part
six half-years has been at the annual rate of
11.38 per cent. on the total outlay; and that
the net rents have been at the rate of 8.65
per cent., the outgoings for rates, taxes, in-
surance, repairs, &c., having been at the rate of
2.73 per cent. As all the property has been so
lately put into thorough repair by the expenditure
of capital, the current repairs paid out of revenue
' have hitherto formed but a small part of the

expenses of the society. And as none of the houses
were new when they were purchased, and most of
them are built of wood, the annual cost of repairs
must be expected to increase ; but of the probable
extent of this increase the committee are at present
unable to form an exact estimate. During the last
six half-years the society's total income from all
sources has been at the annual rate of 12.85 per
cent. on the paid-up capital, and the net income has
been at the rate of 7.66 per cent., out of which sum
the shareholders have received a dividend of £6
per share, free of income tax (which is paid on the
gross rental by the society), and the remainder has
been added to the reserve fund. The report from
which we make these extracts is a most interesting
document, which we should be glad to see widely
diffused. Dr. Greenhill, of Hastings, is the secre-
tary of the society.
•

THIS DAY'S SHIPPING.

LONDON, Doc. 20.—Wind this day At noon—North-
Easterly ; fresh breese and dull weather, with sharp
frost.

PLYMOUTH, Dec. 19.—Wind N.—Arrived —Rosaline,
from Rio Janeiro for Christianstadt, with sails split.
HULL, Dec. 19.—Wind S.W.—Arrived—Alexander,
from Savannah.

DARTMOUTH, Dec. 19.—Wind N.E.--Arrived—Safe-
guard, from Quebec for Yarmouth.
GRIMSBY, Dec. 19.—The Eliza and Emma, from Hartle-
pool to Stettin, has put in hero leaky, and will have to
discharge.

COWES, Dec. 19—Wind S.W—Arrived—lmporter, from
Hong Kong.

PILL, Dec. 19.—Wind S.W.—Sailed—Tangier, for Ga'
neon.

CARDIFF, Dec. 19.—Wind N.—Sailed—Princess Helena,
for Maranham ; Elisa, for Havannah. _

LOIIGH FOYLE, Dec. 20.—Arrived—Nova Scotia, serval
steamer, from Portland, U.S.

(EY ELECTRIC TELEGRAPH.)
SOYTHIMPTON7 Thursday Morning.
Wind N.E. weather fine and frosty. Heavy snow
storm last night; several inches dee.
Arrived, Dec. 19.—Thetis, from Jersey ; Le Coq, from
Cherbourg ; Jane and Margaret, from Hull ; William, from
Llanelly ; Vectis, from Hartlepool; Southampton, steamer,
from Jersey ; John Wesley, Queen of the Seas, Charles
Napier, Jessie, and Anemone, from Sunderland ; Margaret
Jane Swift, from Hartlepool.
Sailed.—Jason, for Portland; Alliance, steamer, for
Havre; Rival, for Jerseyi; Serrin, for Poole ; Margaret,
for Cowes ; Atalanta, steamer, for Jersey.

BY SUBMARINE AND MAGNETIC TELEGRAPH.
GRAVESEND, Thursday Morning.

Wind N.N.E.; light.
Arrived, Dec. 19.—Clyde, from Algoa Bay ; Radma-
gore, from Bimlipatam.
Arrived, Dec. 20.— William Lucy and 471301u5, from
Antwerp.
for Jamaica ; Meteor, for
Sailed, Dec. 20.—Cimbria
Bombay ; Onward, for Calcut'ta ; Bessie' for Moreton Bay;
Eros, for Libesund ; Haabet, for Cronstadt.
DEAL, Thursday Morning.
Wind N.N.N. ; moderate, with snow.
Passed, Dec. 19.—Etha, for Batavia ; Javerta, for Algoa
Bay ; Arabella, for St. Michael's; Ottawa, for Mobile—
all from London.
Passed, Dec. 20.—Johann, from London, for Jamaica.

Despatches were received at the Colonial-office
yesterday from the Governor of Gibraltar. Despatches
were sent to the Governors of the Australian Colonies,
Ceylon, lion Kw*, Lalnm MAlUititle, and Canada,