The Sun.
London, England, 1857-01-23 00:00:00

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canary labour may be depended upon from the Ideal
population, and the climate is such that foreign labour
may be employed, if desirable. Mr. then touched
upon the various resources •-•f the country that would be
developed by the propciath railaav, particularly th,-)
silver mines, which are unstuTa,se,l4 in the natount and
richness of their ores. 'lnc relativa advantages of a
rail vray and a canal were then diecaseed, and mime in-
teresting statistics •of the wininerce of the Pacific were
given. The saving, both of time and distance, which
this line would afford over the Panama and other routes
is considerable, as well as the advantages that would
probably, be ultimately afforded for the transmission of
intelligence. After speaking of the favourable terms
upon which the charter bad been granted by the Bever
ment of Honduras, Mr. Squier concluded by congratu-
lating the society upon the probable happy solution of
those differences in respect to Central America that have
so long disturbed the friendly relations between the
United States and Great Britain.

A discuskiion ensued, in which Arr. Tielawny Saun•
ders and Mr. Thomas ‘Velmter, F.R S., took part.

LONDON LIFE ASSOCIATION.

A. half-yearly court of this associaton was held on
Wednesday at its offices, 81, King William street, City,
Mr. C. FRANKS, chairman of the directors, presiding.
The auditors' report showed that the balance in hand
on the I,t of July last was 7,9891. ; the dividends re-
ct ivcd upon funded property of the association amounted
to 14,2471. ; interest on money advanced on mortgage
and policies 45,5621. ; premiums on assurances of -mem-
bers, first series, after allowing 74 per cent, reduction to
those entitled thereto, 65,6051. ; premiums on 79 policies,
as. uring 105,1901. ou the lives of members since June
last, second series, 4,003/. ; premiums on assurances of
persons not member,, 2,8561. ; repayment of money
advanced on mortgage and policies, 33,833/. ; sale of
15,0001. Consolidated Three per Cent. Annuities, 14,0151.;
sale of 10,0001. Exchequer Bands, 10,084/. ; and other
items, snaking up a total of receipts, 198,733/. On the
other side of the account were the following payments :
In discharge of claims on 50 policies, 69,950/, ; purchase
of 11 policies, assuring 16,9001„ 6,333/. ; advanced on
mortgage, 33,000/. ; advanced on policies of the asso-
ciation, 17,5001. ; fees to directors and auditors,
1,106/. ; salaries to the officers of the establishment
and medical officers, 1,1201.; pension to Mr. Brooke,
250/. ; ground rent, law expenses' parochial rates,
stationery, &c., 894/. ; income tax, 3,791/. ; and pur-
chase of 50,0001. Exchequer bonds, 50,775/. ; there
was a balance left on the 31st of December amounting
to 13,827/. The following account was given of the
amount of funded property and other assets of the
association on the 31st December, 1856 ; Consolidated
Three per Cent. Annuities, 12,000/. ; Reduced Three
per Cent. Annuities, 62,000/. ; New Tbree per Cent.
Annuities, 55,000/. ; Exchequer Three and a Half per
Cent. Bonds, 165,000/. ; Bank Stock, 60,000/. ; Canada
debentures, 100,0001. ; advanced on mortgage,
1,843,898/. ' • advanced on policies of the association,
238,5051. ; Government annuities for terms of years,
9,000/. ; deduct for re-investment on account of prin-
cipal, 7,986/. The annual income derived from the
above in the shape of annual dividends and interest on
mortgages was 112,3661. The gross amonnt of annual
premiums on 4,941 existing policies was £15,0271.
There was interest now due on money advanced on
mortgage and policies, 9,1891. The house, furniture,
and fixtures in King William-street were valued at
15,839/. _ _ _

The accounts were audited by Messrs. Allnutt, J. H.
Anderdon, Tyrrell, and Corrie.

Mr. BAXTER said he did not wish to question the
accuracy of the accounts in any way ; but he thought
that, on submitting such a report, further information
should be given to the proprietors. Every one present
was aware of the want of harmony which had recently
prevailed, on account of the disposition of their surplus
by the directors. That question had been settled by a
ballot, and he thought it exceedingly desirable that
every member should be made acquainted with the prac-
tical results of that decision. (Hear, hear.) What he
wished, therefore, was that the actuary should be asked
to give returns, with as little delay as practicable—fint,
of the amount of premium paid in by every member,
with compound interest ; secondly, of the value of the
benefit, calculated upon the probabilities of life, which
stood to his credit in the books of the society, from the
adoption of the rule of Jan. 26, 1856, regulating the re-
duction of the premiums ; 311 y, of the value of the advan-
tages which they would have derived if the rule proposed
by him (Mr. Baxtei), carried by a show of hands, and
afterwards negatived upon a ballot, hail been carried out.
He should move this as an addition while moving the
adoption of the report.

Toe CHAIRMAN said he did not see how such a resole-
Lion could be carried out.

Mr. BAXTER said that under the resolution of last
year, every old member would have a reduction of 10
per cent. on his premiums, below those paid by mem.
hers going after January, 1856, and it was exceedingly
desirable to know how this affected members indivi•
dually. He admitted that it might involve considerable
labour to do what he desired ; but he thought that nei.
ther labour nor expense should be spared to impart
valuable information to the members. (Hear.) He
should therefore persist in his motion.
_ _

Dr. WEBSTER seconded the motion, which he regarded
as one of peace. The late change by the act of the
ballot might seem to be equal, but nevertheless members
might have recourse to a different mode of opposition if
they chose, and a Court of Chancery might in such a ease
decide against the directors with regard to the distribu-
tion of the surplus, which be thought the directors now
at all events admitted there was.

The CHAIRMAN said there was no such surplus, bat at
the same time he was sure be, with all the directors,
was anxious to impart all possible information to the
members. He, however, suggested that it was pursuing
an inconvenient course to combine such a motion with
one for the adoption of the auditors' report, and that it
would be better to consider them separately.
Mr. BAXTER agreed to this ; and the report having
been ordered to be entered on the accounts of the society,
Mr. Baxter's resolutions were considered as a substantive
motion.

The CHAIRMAN urged various objections to their adop-
tion, upon the ground that it would be difficult, if not
impossible, to furnish the returns as desired ; and that,
if po.s,ble, it would only revive recent dissensions to do
as Mr. Ba \ter desired.

The discussion terminated in the rejection of Mr.
Baxter's motion by a large majority.
The CHAIRMAN then submitted a resolution to alter
the standing orders, for making out the annual general
account, and to provide that, in stating the credit side
of the account, the amount of capital then held by the
society shall be ascertained by taking the value of the
funded property, Bank Stock, and East India Stock
belonging to the society at such sums or prices as shall
be equal to five pounds per cent. under the mean of the
highest and lowest prices of the same stocks respectively
which shall have prevailed during each of the three years
next preceding the year in which such valuation shall
be made.

Various modifications were suggested, but the resolu-
tion was adopted intact.
A veto of thanks to the chairman closed the pro-
ceedings.

OPENING OF THE RAILWAY BET WEEN
YEOVIL AND WEYMOUTH.

On Tuesday the section of the Wilts and Somerset line
between Yeovil and Weymouth was opened for public
traffic. The line between Yeovil and Weymouth is 274
miles long. It contains 4 tunnels, gradients of lin 50,
and a curve with a radius of 25 chains. The strength of
engines was fully tested by an incline of 1 in 50, corn.
tnencing at Winterhays, near Yetminster, and °outing.
ing for three miles up to Holywell. Mere occurs the
notorious tunnel which has given rise to so many rumours
throughout the last eight years. It runs for 220 yards
through a loose green sand, filled with springs, which
were continually deluging the works, and giving rise to
rumours that the tunnel had become impassable—had
fallen in—that the line would never be finished, &c.
However, by a liberal use of draining pipes in all d rec.
tions, the water has been turned away from the tunnel,
and the stone and brick casing is considered substan-
tial. The tunnel has, besides its other unpleasant
associations, the inconvenience of being in a curve,
but as it is near to the Evershot station the speed of th
trains will never be excessive. It is said that this piece
d but the compan
cheaperof work
jobalone hasht
havecost lbseoe,noool.,
made andif a
n thatopean
cbuettttienrg and
in•
stead of a tunnel had been forme ; y
largest tunnel
h em arrangementsto undertake with
an arrow, through a
anda noble
executel atsn de
anotherd t
hithis
tunnel
uu proprietornn nr ee ;Bei:
rpyaea
rtl compelled
iv de
work. At Frampton
tunnel No. 3, strong
chalkcl nagl k,
and at rnaad:lenßr. Ridgway tginshretYtr hea.l ess longest
a substantial piece of work, but approached in either way
by a strong incline of lin 49. There are stations at
Yetminster, Evershot, Maiden Newsptoenci,all'lrya,mbpetinogn,aDor-
chester, and Weymouth. The two last handsome and
considerable stations—the latter, especially,
niature copy of the Great Paddington terminus, and
calculated for a far larger amount of business than one
would suppose Weymouth capable of producing.
The country through which the line runs is not by any
means uninteresting. The " Dorsetshire Downs " are
seen under very advantageous aspects—here and there-
especially about Frampton, Maiden Newton, and Dor
cheater, relieved by our far-famed water-meadows, in
which a luxuriant herbage presents itself to the passen-
ger's eye. After emerging from the Frampton tunnel
this' feature is to be observed in perfection, and the view
to the east of the line presents a picturesque piece of
scenery. We understand that either on Tuesday or
Wednesday next the Common Council will invite the di.
rectors of both the Great Western and South Western
Railways to a grand public dinner.—Aerborne Journal.

EDINBURGH, PERTH, AND DUNDEE AND SCOTTISH CEN-
TRAL RAILWAYS.—Traffic return for the week ending
Jan. 18, 1857 £5,971 17 5
Corresponding week last year 5,954 9 3
On Wednesday Mr. Wakley held an inquest upon the
body of an infant who was suffocated by being shut up
in a folding bedstead. A verdict of accidental death
was returned.
TREATMENT OF A TICKET-OF-LEAVE MAN.—A man
named John Knight, who was convicted at the adjourned
sessions, November, 1852, of stealing a smock-frock,
&c., at Berden, and sentenced to seven years' transpor-
tation, obtained au order of release on the 14th of Jan.
last for good conduct ; he was re-committed to gaol for
damaging an ash tree at Berden on the 20th December
last, and sentenced to pay 9s. 2d., or one calendar
month's hard labour in default. The particulars of his
case were duly reported to the Some-office, and the
Secretary of State having revoked Knight's order of
release, he was yesterday conveyed to the Stirling 'Castle
hulk at Portsmouth, by a Bow.street officer.-7Essys
fkrald