The Sun.
London, England, 1859-03-21 00:00:00

NEAPOLITAN EXILE FUND.

A meeting of the general committee of this fund
was held at 118, Pall-mall, on Saturday last, which
was attended by the Earls of Shaftesbury, Carlisle,
Granville and Ripon, Viscount Palmerston, Lord
John Russell, the Right Hon. Edward Ellice, Mil-
ner Gibson, W. E. Gladstone, Sir B. Hall, Vernon
Smith, and Sir D. Dundas, the Deans of West-
minster and St. Paul's, the Hon. A. Kinnaird,
M.P., Mr. Wentworth Beaumont, M.P., Mr. C.
Delapryme, Sir James Ferguson, Mr. John Forster,
Mr. Thomas Fairburn, Mr. I. B. Heath, Mr. M. J.
Higgins, Sir H. Holland, Mr. A. Kinglake, M.P
Mr. R. M. Milnes, M.P., Sir R. Murchison, Mr. A.
C. Robarts, Mr. Ker Seymer, M.P., Mr. William
Stirling, M.P., &c.
It was moved by Viscount PALMEESTON, and
seconded by Lord JOHN RUSSELL and Mr. W.
MILES, M.P., that the following brief statement of
the circumstances in which the exiles are placed,
and the views of the committee with respect to the
relief to be afforded to them, should be printed and
circulated for the information of the public:—

" Sixty-seven Neapolitan exiles, most of whom are gentle-
men by birth and education, and all of whom are men of
unimpeachable character, were removed a short time since
from the prisons of the King of Naples, and were conveyed
to Cadiz on board a Neapolitan man-of-war.
" They were there forcibly transhipped into an American
sailing vessel, with whose captain the Neapolitan Govern-
ment had contracted for their conveyance to New York.
" These unhappy men, broken down in health and spirit
by a ten years' imprisonment, naturally shrank from cross-
ing the Atlantic during the Equinox, and from deportation
to a distant quarter of the globe, where they had neither
resources nor friends.

"They, therefore, remonstrated so earnestly against the
obvious illegality of the contract into which the American
captain had entered respecting them that he at last yielded
to their written protest, and consented to land them at Cork,
where they arrived on the 6th inst.
" They are all middle-aged or old men ; they aro almost
all enfeebled and worn out by long imprisonment and hard-
ship; some are confirmed invalids; all are ignorant of our
language ; all are entirely destitute.
"The noblemen and gentlemen who have formed them-
selves into a committee for the relief of these exiles wish to
collect by subscription a sum of money sufficient to main-
tain them with frugality until they shall have recovered
from the effects of the long suffering to which they have
been exposed. The committee then desire to afford to each
individual, according to his prejious avocation and present
necessities, the means of starting in life afresh, either in
this country or abroad, and of rendering available for his
future support the talents and energies which remain to
him.

"For the immediate assistance which they received on
landing in Ireland the exiles are indebted to the prompt
and generous humanity of Mr. John Arnett, the Mayor of
Cork, who not only raised a local subscription on their be-
half, but also forwarded to the committee in London his
own personal contribution of £lOO.
" The number of the exiles, and the fact that many of
them have wives and families at Naples and elsewhere de-
pendent on them, render it necessary that exertions should
be made to collect a considerable sum, in.order to place the
committee in a position to afford to each even the most mo-
derate relief, it being evident that for some time to come the
exiles themselves can do nothing towards earning their
own livelihood."

THE HUMAN HAIL—A German savant has
taken the pains to count the number of hairs existing in
four heads of hair, of different colours. He found in a
blond 140,409 distinct hairs, in a brown 109,440, in a black
102,960, and in a red 88,740.

WOODS AND FORESTS.—The gross income of the
Woods, Forests, and other Crown property in 1857-8 was.
£417,069, and the net income, £276,654. The cost of man-
agement was £77,806, and of improvements, £54,933. In
1838-9 the net income was but £155,000, and in 1845-6 only
£85,000. £212,900 was received in 1857-8 for the sale of
Crown property, and the sums re-invested in new property
amounted t0£8,052. The sums stated as re-invested in new
property do not include the purchases made under the pre-
visions of the Acts 54, George 111., chap. 70; 7, George
IV., chap. 77 ; and 10, George IV., chap. 50, by which the
Commissioners of her M tiesty's Woods and Forests, &c.,
were required to apply, not only the surplus income, but
also the produce of the sales of Crown rents and lands, and
the consideration moneys received for the enfranchisement
of copyholds, to the purposes of the Regent-street, and
Charing. cross, and Strand improvements. The balance of
the stock invested from the produce of the sale of estates
standiug to the credit of the capital of the land revenue,
on the 31st of March, 1858, amounted to the sum of
M 30,472 ls. ld.
[AnvEnTisEmENT.]---Holloway's Pills and Ointment.—
Consumption prevented.—lnfluenza, colds, and fever are
now prevailing with unusual severity. Though easily cured at
first, when neglected theyfrequently induce serious diseases,
of which the chief and most fatal is consumption. If Hol-
loway's pills be resorted to on the first appearance of any of
these diseases, and if the symptoms be very urgent, his
ointment be well rubbed twice a day on the back and chest,
they will cease to cause alarm, and all consumptive ten-
dency will certainly be banished, and the body, freed from
all impurities, will be left in a healthier state than it was
before the illness ; the natural strength and vigour likewise
Will got% be reetored to their natural btaaard,

The ordinary annual court of this society was
held on Saturday afternoon at Rad.ley's Hotel,
Bridge-street, Blackfriars, Mr. Biddulph in the
chair, to consider and receive the auditors' report
for the year 1858, and to elect auditors for the
present year.
The CHAIRMAN said that since their last meeting
they had lost their esteemed chairman, Mr. Stephen -
son, who had drawn the deed by which they were
governed, and had taken the warmest interest in
the society, and he felt assured that his (Mr.
Stephenson's) loss was equally felt by the share-
holders as by the board of directors. Mr. Stephen-
son's place as a director had been filled up by one
of their auditors, Mr. Charrington ; the board hid
done him (Mr. Biddulph) the honour to place him
in the chair, and had appointed Mr. Routh deputy-
chairman. The meeting that day was twofold—
first, to hold the annual, and secondly, the quin-
quennial court. The secretary would first read the
receipts and disbursements of last year, and as
the figures would occur again in the directors'
report, to be read at the quinquennial court, the
mode in which he proposed the business should be
taken would be, not at the ordinary court to discuss
the figures, but proceed to the election of auditors,
and if that mode met their approbation, it would
save tithe and make things go a little pleasanter
as well as quicker. t,t,_
The greltEA Rf - tWifi':rOad -sheet..-9ralance- sheet.
The general account for the year 1858 showed that
the society, on the Ist of January, 1858, had £7,367
15s. lid. cash in hand; £172,859 6s. 2d. assurance
premiums (less commission), and £75,878 6s. 6d.
proceeds of investments (less income tax). It had
paid in assurance and annuity claims, purchase of
policies, reassurance premiums, office expenses,
medical fees, and • general law charges, £138,343
13s. 4d., leaving £10,299 3s. 4d. cash in hand on
the 31st of December, 1858; and £107,462 lls. 11d.
balance of account. The assurance fund showed a
balance on the Ist of January, 1858, consisting of
funded property, loans on policies, mortgages, life
interests, reversions, and cash in hand, of £1,695,062
18s. 4d., an increase of cash at the bankers of
£2,931 7s. 5d., profit and loss (on re-valuation of
reversionary interests)of £7,01165.5d., and £119,123
15s. invested in Government securities, and
£150,305 6s. 10s. in mortgages, and £12,384 7s. in
loans on securities. There was by return of capital
from terminable annuities £6,950135., from sale of
Government securities £92,220 12s. 9d., from mort-
gages repaid £75,184 4s. 2d., and from loans on
policies repaid £6,951. The balance at the 31st of
December, 1858, was £1,805,517 19s. ld., so that
at the close of last year the increase of investment
to the assurance fund was £110,455 Os. 9d.

On the motion of the CHAIRMAN, the foregoing
statements were received and entered on the
minutes. -

A sum of £l6O was then voted as a remunera-
tion to the four auditors, who were duly re-elected.
This finished the business of the ordinary annual
court, and the extraordinary and quinquennial
court was, formed, _ _

The Actuary (Mr. J. Downes) proceeded to read
the seventh quinquennial report of the directors:—

" The directors of the Economic Life Assurance Society
have now to report to its members the result of the investi-
gation made of its affairs at the close of the quinquennial
period which terminated on the 31st of December, 1858.
The experience of the society during this period (the third
which has elapsed since paying off the shareholders) has
realised the expectations of the directors, and they trust
that the members will share their satisfaction. The pro-
gress of the society's business during the last five years will
be seen from the following statement :—Number of pro-
posals made, 3,136, or an average of 627 per annum ; poli-
cies issued, 2,578, or an average of 516 per annum ; sum
assured, £1,875,434, or an average of £375,087 per annum ;
new premiums, £64,684, or an average of £13,000 per an-
num; newpremiums and renewals combined, £883,365, or an
average of £176,673 per annum. Claims have arisen during
the five years on 647 policies, assuring the sum of £505,927,
and carrying bonus to the amount of £79,402, giving an
average bonus of 181 per cent. on the sums assured, the
highest bonus being GO per cent., i.e. £2,978 on a policy for
£5,000, and the lowest 10 percent. The society now assures,
by 7,818 policies, the sum of £6,216,647, and is in receipt of
an annual income of £260,000. The assets, consisting of
funded property, mortgages life interests, and reversions,
premiums due on the 31st December (since paid), in-
terest accrued on investments, balance at bankers, and
in hand, amount to £1,840,212 7s. sd. in the valua-
tion of the assets of the society, an ample margin
has been allowed for possible fluctuations of the public
funds. The invested capital has produced an aver-
age interest of £4 2s. 6d. per cent. per annum.
The liabilities, consisting of the values of policies and the ,
bonuses thereon, including also the sum required to pay the
claims accrued in 1858, but due in 1852, and every other
liability, make together a total of £1,517,998 15s. In esti-
mating the liabihties upon the existing policies, so much
only of the premium as is sufficient to cover the actual risk
upon each policy is taken into the present account, the
remaining portion of the premium income being left to
accumulate, so that no profit is declared by anticipation.
This system of valuation, based on principles of undoubted
security, leaves a surplus of £322,213 12s. 5d.; and the
directors recommend that out of this a sum of £17,500 be
retained for the payment of annual and conditional bonuses,
and for contingencies, and that the remaining sum of
£304,713 12s. sd. be distributed as bonus. By the reserve
of £17,500 a further bonus of £1 per cent. per annum will
be added to the absolute bonus on such policies, now en-
titled to participate, as shall become claims during the cur-
rent quinquennial period, viz. :—On policies which become
claims in 1859, £1 per cent. on sum ;assured. On policies
which become claims in 1860, £2 per cent. on sum assured.
On policies which become claims in 1861, £3 per cent. on
sum assured. On policies which become claims in 1862, £4
per cent. on sum assured. On policies which become
claims in 1863, £5 per cent. on sum assured. To those
policies which are not entitlei to participate in the present
bonus, by reason of five annual premiums hot -having
been paid upon them, but on which claims may arise after
the payment of the fifth annual premium and before the
next quinquennial investigation, a bonus will be added
equal in amount to that allotted at the present divi-
sion to a similar policy on which five annualpremiums have
been paid. The sum of £304,714 will produce reversionary
bonuses amounting to £475,354, yielding a per tentage
ranging from 6 to 31, or 107 on the average on the sums
assured ; and a percentage ranging from 27 to 143, or 65 on
the average, on the premiums received in respect of which
the bonus is allotted. The same options are offered as at
the last division, and so the joresent bonus may be taken
either—lst. In money ; 2d. In an addition to the sum
assured ; 3d. In -a reduction of the premiums for the next
five years only; or, 4th. In a reduction of the premiums for
the remainder of life; as the assured may select.. The long-
continued commercial depression has affected generally
the demand for life assurance. Still, the increase of busi-
ness of this society has been steadily maintained, while the
clainis for the quinquennial period have fallen below the
estimate. Considering the character and extent of the
society's transactions, with regard to the number of lives
assured, the sums at risk, and the extent of the invested
capital and of the annual income, the condition of the society
affords assurance that its future progress will be steady, and
free from the risks consequent upon small numbers and
limited means. In its present state the society offers every
advantage afforded by life assurance ; the rates of premium
are lower than those of any other office which entitle the
assured to participate in the profits, and considerably lower
than those of any other mutual assurance society ; the prac-
tice of the society, in its dealings with the assured, has
always been guided by liberality; the expenses of manage-
ment are spread over so large a surface as to form an incon-
siderable percentage on. the income ; and the whole of the
profits, in accordance with the mutual principle, are
divisible among the assured.
The CHAIRMAN said that the report must be
taken as the most satisfactory which they had
received for the last five years. He would like to
detain them for a few moments while he sketched
to them the progress of the society for the 25
years that it had been in existence, as it would
show positively the position in which they were.
The Chairman then made a statement showing
the progress of the assurance fund and the
annual premium income, as well as the bonus
declared in money and reversion at the end of
each quinquennial period. At the first period for
division, in 1829, the assurance fund was £64,233,
and the premium income £31,840. In 1834 the as-
surance fund was £183,790, the premium income
£53,307, the bonus in cash to shareholders £6,000,
and the bonus to assurers £lB,OOO, equal in rever-
sion to
33,000, or 16 per cent. In 1839 the as-
surance fund was £342,044 i the premium income,
£70,591 ; the bonus in oish to shareholders,
£14,000; and the bonus to-dtsurers £42,000, equal
in reversion to £77,000, or 31 per cent. In 1844,
the assurance fund was £673,632 ; the premium in-
come, £90,500 ; the bonus in cash to shareholders,
£27,150, and the bonus to assurers; X 64,777 ; equal
in reversion to £109,293, or 33 percent. In 1849,
the assurance fund was £908,060; the premium in-
come, £121,159 ; and the bonus to assurers,
£168,794 ; equal iticereversion to £274,121, or 62-}
per cent. In 1854 the assurance fund was £1,357,736,
the premium income £153,036, and the bonus to as-
surers £255,850 ; equal in reversion to £397,000, or
67 per cent. ; and in the present year the assurance
fund was £1,840,212, the premium income £177,853,
and the bonus to assurers £340,714 ; equal in rever-
sion to £475,354, or 65 per cent. The chairman
said that though the claims during the last five
years had been large, they were notwithstanding
less than the directors had expected. They had
had two bad years, 1854, when there was the Rus-
sian war and the cholera ; and 1858, when a larger
amount of policies had fallen in than usual. In
speaking of the assurance fund, the chairman said
that the assets had been examined by the auditors,
when it was seen that they held security for every-
thing they had. They had never lost one shilling
by investment ; they had, in fact, never had. but one
loss, and that was at the commencement of the
institution, and it was so small that it was not
worth talking about. Their mots and liabilities

been valued by their respected actuary ; every
single policy had been taken in two different ways
and checked. and though he did not pretend to say
for himself that he had gore through every one of
the eases, yet, looking to the high reputation of
their actuary, it could not be doubted the valuation
was a fair one. The society now assured, by 7,818
policies, the sum of £6,216,647, to which bonuses
had been added, exclusive of the bonuses to be
declared that day. After deducting all liabilities,
there was left a surplus of £322,213, out of which .
the directors recommended that a sum of £17,500
should be retained for the payment of annual and . ,
contingent bonuses, and for contingencies ; and .
that the balance of £304,713 should be distributed
as bonus, and it would be appropriated as on former
occasions. The principle of life assurance was so
well understood that it would be folly to talk of it,
but the advantages of this society ought to be brought 1,11 -1
forward more prominently. In the first place, by
charging a less amount of premium a
.person could . j
assure £l,lOO, whereas elsewhere he could only
assure £l,OOO policy for the same money. They had i
no proprietary, but the profits were divided among lii . 1
the assured every fiveyears,and contingent bonuses ~. • ,
,
were allowed on the most liberal scale for broken I-I
periods between the quinquennial periods, and equal
bonuses after the payment of premiums for five . .
years. Their expenses were trifling, and their . 'Ai ..
annual premium income amounted to £260,000. He . -
thought that this must be satisfactory to every
gentleman present, and in conclusion he must con- - ' ' .4.:; .
gratulate them on the position in which the society .4.r., '4; . I
,
. 4
stood ; but he would beg to remind them that this mr Is4t
1, ' 1
prosperity could only be maintained by a constant
...-E,
I
...
increase of business, and with the advantages which :A.
were held out, they might safely recommend the
office to their friends. The hon. gentleman con-
eluded
by moving that the report be received and
adopted. ,
...- 11 •-• .
This was seconded by Mr. PUGII, an • ss: A; ........a. - 1-t
mously 'termed to.
Three °directors retiring by rotation were 're—
elected, and the election of Mr. P. C. Glyn, in the
room of Mr. Edgar, was confirmed. ~,i
Cordial votes of thanks were severally passed to
the chairman and directors, to the actuary, the
secretary, and the agents in Liverpool, after which ,
the meeting separated.

THE NAVY.

The Glocester, 50, attached to the reserve at
Chatham, is undergoing alterations for the purpose
of being fitted for a receiving hulk.
The Locust, 2, steamvessel, Commander J. B.
Field, arrived at Portsmouth, from Sheerness, on
Saturday, and sailed again the same day for the
Channel Islands.

The Perseverance screw steam transport, Com-
mander E. R. Power, at Portsmouth, was on Satur-
day taken into No. 8 dock, in the steam basin, to
complete repairs, &c., for further service.
The Rhadamanthus steam transport, Master-Com-
mander Sturdee, having landed the machinery for
the Neptune and Vulcan, at Portsmouth, sailed
again for that port on Saturday evening.
The Reynard, 4, screw steamvessel, and the Euro-
tas, 12, screw mortar ship, have been put out of the
fitting basin at Sheerness.
On Saturday, the Waterloo, 120, late flagship,
was taken into the fitting basin at Sheerness to be
dismasted and prepared for being taken into dock
for the purpose of being converted into a screw line-
of-battle ship forthwith.
The gunboat Sandfly (tender to the Cornwallis),
Lieut.-Commander Henry Moore, having had her
defects repaired at Sheerness, on Saturday pro-
ceeded on a trial of her machinery, under the in-
spection of Capt. Edward P. Halsted and his staff,
in command of the steam reserve. The trial of her
engines was in every respect satisfactory. With an
average pressure of 63 she made on an average 148
revolutions and eight and a half knots per hour.
The gunboatliagnet (tender to the Pembroke),
Lieut. Edward S. Meara in command, arrived at
Sheerness on Saturday last from Harwich, to have
defects repaired.
Commander Frederick H. Stirling (late in com-
mand of the Wasp) took up his commission at
Sheerness on Saturday last, and assumed the com-
mand of the Hero, line-of-battle ship. Capt. Blyth,
R.IIL, arrived at Sheerness on Friday last with 138
rank and file of Marines and Marine Artillery, and
joined the Hero.

The Nankin, 50, recently paid off at Chatham, is
not to be converted into a screw steamer as was
originally intended, but is to be placed in ordinary
at that port.
The line-of-battle screw steamer Trafalgar, 91,
having been altered from a 120 gun sailing ship,
will be floated out of No. 2 dock at Chatham, at
spring-tide to-day, after which the Rodney, 90,
will go into the same dock to be fitted with a screw.
The new paddlewheel steam yacht Faid Gahaud,
Capt. Kellock, belonging to the Pacha of Egypt,
put into Falmouth on Wednesday afternoon, on her
voyage from Southampton to Alexandria, owing to
its blowing a gale from the S.S.W., and having
besides encountered some derangement in the ma-
chinery on the port side which will require repara-
tion.

i
'.

I

The naval and other stores which were laden on
the unfortunate steamer Czar, wrecked near the
Lizard, are being partially recovered by two sal-
vage cutters, with diving apparatus, as the weather
admits of operations, and are brought to Falmouth.
Some machinery has also been recovered, forming
part of the cargo, but the great bulk is still un-
saved.

~~.

His Netherlands Majesty's screw steam sloop
Vesuve, 6, Commander Casemboort, joined the
Dutch squadron in Plymouth Sound .on Friday
night. On Saturday morning Admiral t'Hooft
visited Port Admiral Sir Barrington Reynolds,
K.C.8., at Mount Wise, and then inspected th©
flagship Impregnable, 104, Captain William H.
Stewart, C. 8., in Ilamoaze. The customary salutes
on embarkation were duly acknowledged by-the
Evcrtsen, 50. Admiral t'Hooft was shown round
the fortifications by Major-General Eden, Com-
mander of the Forces in the West.

The screw steam frigate Liffey, 51, Capt. George
W. Preedy, from Portland, arrived at Plymouth on
Saturday afternoon to receive stores and provisions
for the fleet at Queenstown.
The paddlewheel steam vessel Advice, 2, Master
Michael C. Raymond, left Plymouth on Wednesday
for Queenstown, with supernumeraries for the fleet.
The paddlewheel steam vessel Avon, 3, Second
Master. James A. Lawrence, sailed the same day to
collect men from the Cornish coast ; and the lighter
Falmouth, Carrick, master, sailed for Pembroke
and Ireland.
The screw steam frigate Doris, 32, Capt. Edward
Heathcote, has entered her full complement, and is
nearly ready to leave Hamoaze for Plymouth Sound.
On the arrival of the iron screw steam troopship
Simoom, 8, Commander John M. Cooke, at Ply-
mouth, she will be ordered to Portsmouth.
The screw steamship James Watt, which was
commissioned on the Bth inst., at
Plymouth, by
Captain Thomas Fisher, was taken into Keyham
basin on Wednesday. The defects in her engines are
so important that she has been docked for repair.
The guardship in ordinary Royal William 120,
Captain Woodford J. Williams, was removed from
Hamoaze on Wednesday to the Devonport Dock-
yard, where her masts were taken out, preparatory
to her being docked. She will be cut down to a
two-decker, and converted into a screw with an
armament of 91 guns. The crew of the Royal
William will be paid off on the 31st inst., and she
will be replaced by the Royal Adelaide, 104.
The lower rigging has been passed over the mast
heads of the London, 90, at Devonport, and she is
rapidly fitting for active service.
The steam gunboat Skipjack, Lieutenant and
Commander John Murray, was undocked at Key-
ham on Saturday morning. The St. George, 120,
was appointed to be undocked in the evening.
Two officers and 117 men belonging to the Royal
Artillery arrived at Plymouth by the mail train at
6 o'clock on Saturday morning.