The Sun.
London, England, 1867-03-22 00:00:00

delight to carry about in one's pocket as a personal
possession.

Gulliver's Travels. By Jonathan Swift. One vol.

pp. •398. Wm. Tegg.

Another charming little pocket volume, com-
prising within it, if not exactly complete, at any
rate only very judiciously abridged, the whole of
one of our world-famous national classics—Dean
Swift's Travels of Lemuel Gulliver among the Lilli-
putians, the Brobdingnagians, the Laputans, the
Yahoos, and the Houyhnhnms. The little volume
is very prettily embellished with a variety of
brightly-coloured illustrations, the letterpress having
(as the title-page rather significantly intimates)
been Carefully Edited by a Clergyman. Turning
over the leaves of this new edition of Gulliver's
Travels, we cannot but recognise in it more vividly
than ever the fact that it is not only the most in-
teresting satire that ever was penned, but a satire
so interesting that it has about it all the fascina-
tion of a romance.

-4175?-4,

HER MAJESTY, &c•

WINDSOR CASTLE, March 21.

The Queen drove out yesterday afternoon, ac-
companied by Princess Christian.
Princess Louise also drove out, attended by the
Countess of Caledon.

Her Majesty walked out this morning, attended
by the Duchess of Roxburghe.
Princess Christian and Princess Louise drove out.
Princess Beatrice rode in the Home-park, and
Prince Leopold went out walking.
Lieutenant-General Sir Henry Bentinck has suc-
ceeded Colonel Cavendish as Groom in Waiting.

Protector Endowment, Loan, and Annuity
Company.

Yesterday afternoon the annual meeting of this
company was held at the office, 34, King-street,
Cheapside—Alfred Smee, Esq., F.R.S., in the chair.
Mr. APMORRAN (the secretary) read the notice
convening the meeting, and the directors' report as
follows :

" The directors have great pleasure in submitting
a statement of the receipts and expenditure for the
past year, duly vouched by the auditors.
" Notwithstanding the financial crisis of the past
year, the operations of the Protector Company were
in no way influenced by the panic, showing the
safety of the plan pursued by this company in grant-
ing loans over periods of three years, and in receiv-
ing money at reasonable notice.
" 750 applications for advances throughout the
year, amounting to £150,000, were made, out of
which 295 loans, amounting to £55,481, have been
granted for terms varying from three to five years.
" The company has accommodated every appli-
cant for money who, in the judgment of the direc-
tors, offered adequate security.
" A constant rate of 5 per cent. is allowed to de-
positors, and though three months' notice is re-
quired for withdrawal to render the operations of
the company safe, yet practically the company is
able to allow the withdrawal of deposits at any mo-
ment. This renders the deposit branch particularly
eligible for trustees waiting eligible investments.
" The directors recommend that a dividend of 10.
per share be paid, in addition to the ordinary interest
of 5 per cent.
" The directors retiring by rotation are Alfred
Smee, Esq., F. R.S., and Edward Solly,
and the board recommend that their names consti-
tute the list for re-election.

" The company's auditors, G. H. Ladbury, Esq.,
G. Lowe, Esq., F.R.S., and H. C. T. Beadnell,
Esq., also retire."
._

The CHAIRMAN said he had great pleasure in
rising to move the adoption of the report. lie
thought they would all agree with him that the past
year had been a most trying one for monetary com-
panies ; but notwithstanding that he was happy to
state that this company was in no way influenced
by the extraordinary changes which took place dur-
ing the past year. In the first place, they found
the money out on loans came in as ordinarily,
and that the deposits came in as usual, and went
out in the usual way. (Hear, hear.) Although
all other companies were suffering severely, the
Protector, so far as they could see, was in
no way affected by the changes which took
place around them. He attributed that to two
causes ; first, to the difference of the system the,'
adopted as compared with that pursued by banking
establishments. These establishments received veil
large sums of money and lent them for short terms
on bills of exchange, and that money might be rapidly
called back; but this company granted loans extend-
ing over a period of three years, and these loans were
transacted with care and inquiry in every case. The,'
became possessed of a knowledge of the borrowers,
and were thus enabled to conduct this part of their
business in an efficient manner. The experience
from the beginning of the society showed their losses
had been extremely small, and when they had oc-
curred it had generally been towards the end of the
repayments. He had great pleasure in stating that,
although any one was at liberty to come to the office
andleave his proposal on the counter, yet during the
entire year they were able. to accommodate every
single person who applied to the office for an advance,
if the directors thought it was safe to advance it. Of
course, in lending over three years they must of ne-
cessity be particular. They must of necessity inves-
tigate every case ; and out of 750 applications for the
sum of £150,000, 295 loans, amounting to £55,000,
had been granted. As a matter of fact every person
who came to them and could show that be had un-
doubted security had had his loan granted. The class
of persons to whom they lent money were those who
were very much benefited by them. At one time
it might be a father who wanted to apprentice a son'
at another a man who wished to extend his busi-
ness, or again a man might wish to meet sudden
calls through illness, and whenever these came t°
the office and could give sureties of good standing,
who would be bound for the money, then the loan
was granted, and was a thorough benefit to the bor-
rower. (Hear, hear.) This company might be said
to be really useful to the community as well as pro-
fitable to themselves. With regard to the dividends,
he might state that the directors had received cony
inunications from some of the shareholders as to the
mode of dividing the profits. As the company kept
growing they expected larger profits, and he had
no
hesitation in stating that if their success continue,"
the dividends would rise occasionally. The ealleli
up capital of the company was £1 per share, and 3
money paid in advance of calls was, by the authoritty
of the deed, entitled to 5 per cent., which was Pa
id
irrespective of the profits realised. What the direc-
tors now recommended was in effect the same
id
they recommended last year. The dividend W°a
be ls. per share and the interest, which was Pat
10
all round ; so that the dividend was equal to
per cent. upon the called-up capital. In concl
u
-
sion, he was pleased with the working of the CO';
pang, and as their transactions increased so W°lllui
the profits of the shareholders, which he h°Pe,
would soon be entirely satisfactory to everybea":
The cheques for the dividend were already drav7z
and the shareholders present would be able to gel
them before they left the office. He then In°
the adoption of the report. (Cheers.)

The report was unanimously adopted.
Mr. Alfred Smee, F.RS., and Mr. Edward Solit',
F.R.S., the directors who retired by rotation, wer
unanimously re-elected, on the motion of Alr• j

Thomas Cooper, F.R.A.S.
The retiring auditors, Messrs. G. 11. DOW.Sr2
G. Lowe, F.R.S., and IL C. T. Beadnell, were
re-
appointed ; and a vote of thanks to the chairteall
concluded the business of the meeting.

Their Royal Highne,sses the Duke and Ditches°
of Saxe-Cobourg arrived in town last evening from Dover, where they landed yesterday afternoon, fr°l3l
the Continent. His Royal Highness Prince Chris;
tian arrived by the same boat. Major-Geltell
Seymour, C.B , was present to receive the Prinl
The illustrious personages left Dover by the '4l
train, and were met at Charing-cross by the r3eP

carriages.