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

RAILWAY LNTELLIGENCE.

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 strtke ;
a five-leit driving wheel ; chive motion ; and
Itavirg the best principle or stooks combustion applied to
the firebox, The advantage of the LI feet gauge would
enable them to secure engines of that class with a high
power 89 regards the traction of heavy loads at a velo-
city of 20 or :30 miles an hour. The carriage stock is so
arranged that there may be the smallest admissible
amount of dead weight as compared to tile productive
load conveyed. The relative proportions of first, se-
cond, and third class passengers on the East Indian line
was one first class passenger to six second, and seventy
third class passengers. The first-class passengers would
be conveyed in composite carriages having one first-class
compartment, and three second-class compartments. As
the great mass of Indians sit on the floor instead of
raised seats, it would enable the company to provide a
cheap fourth•elass carriage for them with two floors, and
without raised seats. The costs of conveying passen-
gers by this method would be a portion above half of
what it would require by the ordinary third class. The
report concludes by alluding to the means adopted for
carrying on the works in India and the best mode of
managing the affairs 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
for their report, 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 accoun-
tant, who had examined the books and accounts of the
company to the 30th of June last. It appeared from the
accounts that 14,715/. had been paid as commission upon
the sale of shares, or about 10 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 hs.d also been expended in advertisements
8,2461.; allowances to the London and local directors,
7,032/. ; gratuities, 2,810/. ; law charges, 3,717/. ; postage
and parcels, 3,075/.; printing and stationery, 7,294 ; travel-
ling expenses, 3,6021. ; salary, wages, &c., 21,122/. ; 'com-
mission and allowance on premium, 7,343/. in three
years and a half ; the result being that they hack 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
1,2101., or about 63. 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 plaintiff only obtained nominal
damages, it cost the office 2,000/. 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 90,0001. ; showing that
21,0001. has been taken from capital, besides 51,000/. to
pay for fire losses. There were still available assets, how-
ever, amounting to 5J,313/., in addition to the buillings
valued at 15,585/., making together upwards of 1,6,000/.,
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 been fixed ac 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 ;