The Sun.
London, England, 1857-04-08 00:00:00

. .
► to the general work of the railway for goods and pas-
sengers was a class of six-wheeled goods engine, with
four wheels- coupled, limited to a weight of about .24
tons ; cylinder, 16 inches diameter, and 22-inch stroke -
a five-feet driving wheel ; Alien's valve motion ; and
having the best principle of smoke combustion applied to
the firebox. The advantage of the 5i feet gauge would
enable them to secure engines of that class with a high
power as regards the traction of heavy loads at a velo-
city of 20 or ',lO miles an hour. The carriage stock is so
arranged that there may be the smallest admissible
amount of dead weight as compared to the productive
load conveyed. The relative proportions of first, se-
cond, and third class passengers on the East Indian line
was one first class passentier to six second, and seventy
third class passengers. The first-class passengers would
be conveyed in composite carriages having one first-..ilass
compartment, and three second-class compartments. As
the great mass of Indians sit on the floor instead of
raised seats, it would enable Cie company to provide a
cheap fourth-class carriage for them with two floors, and,
without raised seats. The costs of conveying passen-
gers by this method would be a portion above halt of
what it would require by the ordinary third class. The
report concludes by alluding to th 3 means adopted for
carrying on the'works in India and the best mode of
managing the affair 3 of the company.

UNITY FIRE INSURANCE ASSOCIATION.

The annual meeting of this company was held yesterday,
at the offices, in Cannon street ; Dr. Lloyd in the chair.
The CHAIRMAN said it would be recollected that in Sep-
tember last, at a special general meeting, a committee had'
been appointed, with the consent of the directors, to in-
quire into the whole of the affairs of the company, and to
report thereon to the general meeting. Perhaps the best
course now to pursue would be to call on the committee
fur their raport, after which a report from the directors
would be presented, so that the proprietors would have all
the facts before them upon which they would be called to
express their opinion.
Mr. J. BRADSHAW, chairman of the committee, then
read the statement of Mr. Coleman, the public accouue
tant, who had examined the books and accounts of the
company to the 30th of June last. It appeared from the
accounts that 14,70/. had been paid as commission upon
the sale of shares, or about f 0 per cent. on the amount
called up--an amount probably more than had been ex-
pended in the establishment of most offices for preliminary
charges. There hod also b :en expended in advertisements
8,246/. ; allowances to the London and local directors,
7,052/. ; gratuities, 2,8101. ; law charges, 3,7171. ; postage
and parcels, 3,0751.; printing and stationery, 7,2097.; travel-
ling expenses, 3,e021. ; salary, wages, &c., 21,122/. ; com-
mission and allowance on premiums, 7,3431., in three
years and a half ; the result being that they had created
a business which yielded from premiums 30,000/. per an-
'num. One gentleman had been engaged only in obtain-
ing the signatures of the proprietors to the deed of set-
tlement. About 4,000 shareholders had subscribed it,
,and to procure these 'signatures the cost had been
1,2701., or about 6s. per name. Another great
item of expenditure arose from printing and pamphle-
teering. One of these pamphlets led to' an action
for libel, and though the plain iii only obtained nominal
damages, it cost the office 2,0001. It appeared that the
total receipts for fire premiums 'to the 30th of June last
were 69,0751., while the expenditure of the office for carry-
ing on the business was about 9C,000/. ; showing that
21,0001. has been taken from capital, besides 51,0001. to
pay for fire losses. There were still available assets, how-
ever, amounting to 5.1,343/., in addition to the buildings
valued at 15,5857., making together upwards of C 6,000/,,
subject to liabilities of 17,2861. In closing their report the
committee could not help expressing their conviction, that
though much of the expenditure was owing to the manage-
ment of the late managing director, the directors were
open to censure for allowing it to proceed so long uncon-
trolled. The committee were of opinion that the whole
of the expenditure had bean fixed as too high a rate, and
recommended its revision; but it was but justice to state,
that since December, 1855, the directors had only taken
half fees. They recommended that the office of managing
director should be abolished; that a manager or secretary
should be appointed, such manager having been hitherto
altogether unconnected with the office, and allowed a libe-
ral fixed salary, without commissions or other additions ;
that the offices of accountant and cashier should be amal-
gamated ; that the local boards and managers with salaries
should b abolished; and that the local agents should
transact their business direct with the head office. The
effect of the alterations, suggested by the committee, which
had been carried into execution, would cause a saving of
little less than 10,0,10/. a-year. The committee further re-
commended that the board should be wholly or partially
reconstructed, and expressed a hope that every person
would cordially lend a hand in carrying out these recom-
mendations. They bad great satisfaction in assuring the
shareholders that they had no reason to suspect or believe
that there had been the slightest improper trafficking in
shares, fraudulent use of the fends, or dishonesty, of any
kind exercised in the company. (Cheers.) They believed
that the share registry had been most honestly kept, and
the moneys all fairly expended, though with a profusion
that they felt called upon to condemn.
Mr. GRAY, the manager, next read the audited accounts
to the 31st Dec. last, which showed that, after meeting
every liability of the company, there yet remained avail-
able assets to the extent of 42,991/. 13s. 1111.; and the
auditors, in their report, whilst deploring the large amount
of the company's losses, congratulated the proprietors that
the honour and integrity of the company had been main-
tained untarnished, and that they had laid the basis for a
large future business.
The report of the directors was next laid before the pro.
prietors, which, after alluding to the retirement of the late
manager, and the appointment of Mr. Gray, stated that
the very strictest economy would be exercised in the
working details of the company ; they themselves set the
first example by surrendering, as they now do, all claim
for fees or salaries of any kind; considerable reductions
have already been made in the enormous staff of officers
accumulated under the late manager, and these reductions
will continue wherever it can be done with safety to the
efficient working of the association. The directors are also
now convinced that the future success of the association
will greatly depend upon the maintenance of an ample
paid-up capital ; and as the funds now in baud amount
only to 42,9971. 13s. 11d., they strongly recommend to
the shareholders that the capital should be made up to at
least 100,0001. To accomplish this a call upon the share-
holders will have to be made of ls. 3d. per share, which
the directors now recommend.
The CHAIRMAN said it now became his duty to propose
the adoption oe the report just read; he and his brother
directors could 1. ok back on the past with a steady gaze,
feeling that they had discharged their auty honestly,
though, perhaps, they might have been sometimes mis-
taken on measures which they believed to be for the best
interests of the company. They had heard that since
December, 1855, the directors had only taken half
fees, and he had now to inform them that henceforth
they would relinquish all claims to any foes whatever.
He trusted they would adopt the report and agree to the
call, feeling assured if they did so they teed have no fear
as to their future prosperity. In conclusion, he begged to
move the adoption of the report, and the declaration of a
call of ls. 3d. per share, or 50 per cent., on the 2s. 6d, already
paid.
A long discussion ensued, in which, though some dissatis-
faction was occasionally expressed at part of the proceed-
ings, the utmost confidence appeared to pervade the pro-
prietors as to the future prospects of the institution, and
the justice and fairness of making the call. Mr. Mechi
cautioned the shareholders not to consider the whole of
their money as lost, as their business would be readily
purchased, if it was desirable to sell it, by most respectable
companies, at a price which would give a large return to
the shareholders. Mr. Smith, Mr. Buchan, and other pro-
prietors, also called attention to the fact that ls. per share,
if generally met, would raise sufficient to produce the
100,000/. capital ; and it was therefore, with the consent
of the directors, resolved to amend the report by reducing
the recommendation of a call of ls. 3d. per share to is.
Ultimately the report was adopted, with only three or four
dissentients. The call was made and a resolution carried
that in future no interest on capital should be paid except
out of earnings.
Auditors were appointed, the retiring directors re- •
elected, and a cordial vote of thanks given to the commit-
tee of investigation for their valuable and gratuitous sere
vices.

A vote of thanks to the chairman closed the proceedings.

STATE OF TRADE.

MANCHESTER, APRIL 7.

There is not quite so much business in shirtings, mada-
pollams, and jaconets suitable to the India markets as on
this day week. The advance made by the Bank on the
rate of discount has affected this trade more than others,
from it being mostly carried on by means of long-dated
paper, on which the effect of high discounts is felt more
severely. There is a fair bucineas in T-cloths, longcloths,
and some descriptions of heavy narrow domestics, at very
full prices, and the demand maybe regarded, on the whole,
as quite equal to the production. in yarn there has also
been a moderately good demand from the home trade, but
more especially for :30's water twist and 40's mule for
Russia, and these are fully Ld. per lb. higher then ou this
day week. Most numbers and qualities of yarn are more
may be
roerglaersds
eadffeacstfiedrnainer pr, and
tawndasthlaostmwaerekke.t generally
Messrs. John Slagg and Co. report of the cloth-market :
" Since our last report there has been an active demand for
various qualities of 'f
-cloths and longcloths, and a consider.
able business has been done in these goods at very full prices,
and in sumo instances at a slight advance ,on last Tuesday's
rates. The lower qualities of sLdrtings, jaconets, and mada-
pollams, which were in request on this day week, are quieter
again, as are also the better qualities of printing cloths. In
other respects there is no change to notice, either in demand
or prices."

NOTTINGHAM, APRIL 7.

The home demand for lace is manifesting a further im-
provement, but not to the extent anticipated. Plain goods
are still in request, at high prices. More is doing in silks
and fancy laces, and, although the high rates at which
both silk and cotton are sold require the manufacturer to
proceed with caution, it is generally believed in the trade
that the season will be a busy one.
The hosiery trade continues good. For a long time past
this branch has been active, both with home and foreign
orders.
Yarns and silk continue very high.
LEICESTER, APRIL 7.
The hosiery trasie, although slightly improved, is still
by no means active ; most branches are, however, in a
healthy state, and as the spring advances, and the political
world becomes less agitx•ted, manufacturers are of opinion
that there will be a good seasonable demand.
LEEDS, APRIL 7.
a small attendance of buyers in the
.;oods. The trade,
is still firm though
Wool i
There has been only
and inurchases have been confined
cloth-balls this morning,
chiefly to small lots of summer
quiet, is in a healthy conditioC•
price.

_ITDDEt',SFIELD, APRIL 7.
There is a slight improvement on last week. The de-
- •o-day is chiefly confined to summer goods of choice
n 3"" ,tterns. shipping trade quit.t. There are few
and new ~„ors in I,he market. wool presents no
but Scotch it goes off well, but stock.B are light.
variety in price ;

~~..,,-

TOE ALLEGED CARE Op: VOISONING AT GLASGOW.
cve
.have been able to L'earn nothing further has
tBroanfasrpiared vr;!1, reference to this ).,ainful case. A rumour
was abroad on Baturday—strengtheved by a statement
which appeared in a weekly contt. 'mporary—to the
effect that the accused had been Tiber, %tecl on bail, but
we understand OW is without foundatit In. The utmost
coolne-u is stated to have been manile steel by the pri..
was placed iu cub
t°43"—Gif4sgoto
soner ever site she
.Dgi/y