The Sun.
London, England, 1868-03-20 00:00:00

• -= ..
. - -.....- .- -•...--,. .. - - ' - 'T. -....-.
•
. •
THE SUN,
/...e........, .........,
.............mmm
VI VII. mirrairarrit
.............••••••
....
ON.BY .M.ARKET ~ Guatemala --"Nowasi
5 per Cent .
I Honduras Gov. Rail. Loan., 10p. Ct., £25 p -
AND SHARE LIST.-This Day.
Itiiiau 5 per Cent., 1865 - _...
Do, Account -
ORDINARY SHARES AND STOCKS.
~
dills!
cO/kIMEROIAL FA TELL ityic tznii. Do. Maremmana Raiway
,
luxictu. '3 per Cent - ,
CITY, Two o'CLocK.Share Railways. ; Paid.. Price. dance
Ditto for Account - I I
—.--.
.0- Do. 1864 I Cloaing I Business
at rißtrilandlxeter .... 100 02 li ,61
4.ituouga tne DlllllOll and reserve of notes and coin Do 6 per Cont. Anglo-French - at Caledonian lOO 62 83 SI
both show e'
an increase that can scarcely be called in- llontevidsan 6.per Cent. . - at canabrian
Nloorish Imperial 5 per Cent - - Cork and 8and0n...... - - -
ecot.isiderable, the return in other respects bears
to iCernwall all 3 1
archevidence of an increased demand for money. There New
SipesGanada _
at ifiublln At Belfast JUnc. 100 75 77
yesterday is a Do
large falling off in the private deposits, indicating Do. DeferrM
- , at IDuri„Pertliok Ab.Junc. 100 70 72
- &London. Scrip Ceti. all - -
by their that there is more employment for money in the open Do Land Warrants (Hectares)
Do. too - -d'
I
rinse Leo- -
market ; and the private securities have enlarged, Peruvian 5 per Cent. 1865 - st Glasgow &S. Western 100 1(2 104
indicating that the Bank has itself felt the effect of DD.() Account_, 77} I- I at Great Eastern,ord.stk. 100 31 311 311
4i per Cen,. (Uri barren) Cent, (U •b - at Do. E. Angl. at. No. 2 100 6 7
the. additional inquiry. The chief cause of the acces- Do 41 per Cent.. 1862 - at Urcat North of Scotlan.l 10) 15 6
d Princess
at Great Northern WO 104 1(5 1041
10u to the reserve is the influx of reserve payments ; Do Account .
at Do. A stock .. 100 100 101 100 1
to Alder-
,and the reserve cannot be considered high, regard Portaguese 3 per Ct., 1853, '6, '7, '9,'60,'2,'8 391 1 st Do. II stock
being had to the approaching payment of the public Do. do., 1'67 - at Do. New, is. at 25 pin 100 - -
and Miss and the Bank dividends. The following are the Drill, Do. do., Scrip, £lO paid
Russian 5 per Cent., 1822, £Si s_ pm.
at
.3-1 WS, and W. of Ireland 100 94 16
cipal changes since the preceding returns : at Ut. Western -Original 1(0 46 is 461
Do 41 per Cent. 1850 - -
Decrease in Circulation
Do 4+ per Cent., 1860 , - at Do. W. 511d.-Uxtord 100 25 au
Increase in Public Deposits
apt. Ellis, Decrease in other Deposits 588,476 Do 5 per Cent., 1862 - -
Increase in Government Securities 4, 083 Do. Anglo-Dutch, 1861, £lOO Bonds._ - st Lancashire 4 Yorkshin. 100 1251 125. 12.4 4
Increase in other Securities - -
tended by Increase in Bullion - . 101,807 Do~ 1866, £IOO Bonds
it Ton., Chat., and Dove] 100 18 Ist 181
Increase in Rest - st Do. Metrop. Ex. A.. 100 12 15
Increase in Reserve - st Lon. At North Wester]: 100 141 113 1111 15
Day. Bullion in both Departments . 21,281,427 Spanish 3 per Cen .
Do Acc(Aint - at Lon. .1z South Wester], 100 8 . 17
4
Reserve of Notes and Coin 13,253,802 37} i it Ran., Sties., Lincoh, 100 424 13,
Circulation, including Bank Post Bills 23, 495, 470
st Metropolitan.-- ..... all 111 1 5 111
Do Now Deforreu -
10
C. The return of paid clearing for the week endin Do Account - -
Do Passive
st Do. Extension.-- all 107 lei 1031
Wednesday, March 18, as certified by Mr. Geo.
g
Do Accrunt - -
10 ( Do. do. do. 10 - -
V. MANN. Derbyshire, chief inspector, is as follows :-- Do Coin, Cert. of Coup. not funded ... - •10 Do. and St. John'e Irt. 6 - -
Or services March 12, Thursday - at ttidland
- Do. £9 Share 7 - -
March 13, Friday - 20,965,000 Tu-kish 6 per Cent. -
it Do, Birmin.. it Dart)) 100 74 70
tdant, who
Do Account --
March 14, Saturday - et - -
Tau (Li- March 16, Monday - at North British
Do Account - -
t Finance March 17, Tuesday
Do £lOO Bonds at Nth. Eastern-Benda, 100 1014 1024 100/
March 18, Wednesday ... 8,859,000
25 Do. U.N'E purchase 16.13.4 - -
a the Na' Do 6 per Cent., 1862
atter com-
--- Do Account
Total £72,845,000 Do £lOO Bonds 64 6 at Do. York lOO 53 91
defendant This are ate is affected by the Stock Exchange Do. 1863 - at Do. Carlisle ..... .... 100 124 132
at Do. Stock.2l, Darling. all IA 132
--
io was one settlement at the close of last week. But, making Do 5 per Cent., 1865 - IS Do. do. 1860-4 i l4 - -I,
.t Finance allowance for this disturbance, the return, as a whole, Do Account
54 iil at Do do. 1864 5 . lO - -
defendant confirms the belief that is now prevailing of an Do 6 per Cent., 1865
Do 4 per Cent., Guaranteed
••• - Do. do. 1866
• 10 North Staffordshire
improvement in domestic trade. Venezuela, 3 per Cent.
st Sc 21; S. W. Junction
with the
The Money Market is firm, at 1i to 2 per cents Do 6 per Cent., 1862 - et Scottish Central - -
e charged;
Do 6 per Cent. 1864 - - Scot. N. E ,Aber. stock 100 - -
The Corn Market remains dull.
- 00. soot, Mid. atook.. lOu - -
k in ques- The Liverpool Cotton Market is quiet. Do. 4 per Cent. Certificates .... -
Divideuas on the above payaule in London. - Shropshire Union .... 100 56 LS
ed to stay Consuls are a shade lower, at 93 to 93i for more at South Devon lOO 43 15
y French Rentes, 3 per Cent., Ex. 2M.
it south Eastern
and account ; New and Reduced Three per Cents.,
to itaines, Wok., 4 Wok all 0 to
Austrian a par Cent. Ex 10 Florins ... -
called his 914. to 92 ; India Five per Cents. are unaltered Belgian, 41 per cent., Ex. 25f. - et Vail. Vale lOO 143 145
at 114 to 114 ; Bank Stock, 249 to 251; Exchequer Dutch 2+ per Cent.. Ex. 12 Guil, - to Do. C - -liquidator
'Bills, Ils to 1-6 s prem. Do Account - - Vale of Neath
Italia], 5 per Clint. 1831, EL.. zsf. - - Waterford /v. Kilkenny feu
- --
The Foreign Stock Market is firm at previous prices.
Do. Account 47i I i to Waterloo & Whiteha i
.....6
....-
_-
Nest Cornwall
been done Mexican is quoted 154- to 16A- ; Greek, 12i te 13 ; THREE O'CLOCK.
)r. There I\Tew Spanish, 351 to 36 ; Italian (1861), 47/ to 47i ;
Consols, Money 93 I
.01,01`,114LL U 0 VERNAIENT SECURITIES. der which Turkish (1865), 334 to 33F; ; Portuguese, i to I prem.;
Do. Account, March .. 93 I-
Minn. SA to AO • i'lt•ol VitatQl, 73.21 to 7k4 • Vcvn-
. f

The Corn Market remains dull.
The Liverpool Cotton Market is quiet.
Consuls are a shade lower, at 93 to 935 for money
and account ; New and Reduced Three per Cents.,
914- to 92 ; India Five per Cents. are unaltered
at 114 to 114 ; Bank Stock, 249 to 251; Exchequer
Bills, 113 to 1-6 s prem.
The Foreign Stock Market is firm at previous prices.
Mexican is quoted 154 to 165 ; Greek, 125 to 13 ;
New Spanish, 351 to 36 ; Italian (1861), 47 to 475 ;
Turkish (1865), 33 to 33F, ;Portuguese, sto / prem.;
Chitin, 88 to 69 ; Orel Vitetsk, 785 to 781 ; Egyp-
tian (1864) 87 to 88 ; Railway Loan, 90:k- to
91 ; Viceroy's 7 per cents., 735 to 74 ; ditto 9 per
cents., 894 to 90 ; and Peruvian, 77,-0,- to 78.
The Foreign and Colonial Trust has been welt
received, and the quotation is 1 to 12 prem.
There is no particular feature in Railway Shares,
Yesterday's closing quotations being current. Lanca-
shire and Yorkshire, 1254 to 126 ; Midland, 105
to 1055 ; South-Eastern, 725 to 73 ' • London and North
IVestern, 1141 to 1151; Great Northern, 1045 to 1051;
ditto (A\, 99 to 100 ; Great Eastern, 315
to 311 ; Great Western, 465 to 47 ; Brighton, 48k
to 481 ; Sheffield, 424 to 43 ; Metropolitan, 114 to
1144 ; New District, 1k to 11 prem.; Caledonian, 815
to 82; North British, 331 to 34/.
Business has been done to-day in Metropolitan
District Railway Issue of £400,000 Debenture Stock
at 1 to 14 prem.
Foreign Railways are without movement. Loin-
,.sardo-Venetian is quoted at 15/ to 155 ; and Luxem-
burg at 84 to 9.
In American Securities United States' 5-20 Bonds
are lower, at 72 to 721 ; Erie Shares are 1 better,
at 47 to 48 ; and Illinois f, at 895 to 905.
Bank Shares continue to attract but little attention,
and not a single variation has occurred in prices.
Agra, (A), 10 to 11 ex div. ; Alliance, 14 to 13 dis. ;
4, nglo-Austrian 35- to 4 'prem. ; Chartered
Mercantile, 285 to 295 ; Consolidated, 4a to 4 ;
Imperial, 17 to 17.4 ; Imperial Ottoman, dis to par ;
London and County, 515 to 525 ; London and
westininster, 674 to 685 ; Oriental, 42 to 43 ; London
Joint Stock, 315 to 325 ; Union of London, 33 to 34.
Voreign mining shares are rather dull. St. John
del Rey remain at 19 to 195 ; Port Phillip, 11 to 15 ;
Chontales, lower, at to if lower.
Miscellaneous Shares are steady. Anglo-American
Telegraph, 225 to 22R- • Atlantic Telegraph Eight per
,nt., 55 to 5g ; Credit Foncier, 3 to 35 ; Hudson's
15aY, 145 to 14 ; London General Omnibus, 11 to 2.
The sum of £4,000 in sovereigns was withdrawn
trona the Bank yesterday for Egypt.
It is reported that Messrs. Bischoffsheim and Gold-
Schmidt, of Loudon and Paris, are about to introduce
a Spanish colonial loan for £2,000,000.
The city of Liege has issued its prospectus for a
loan of 11,870,000 fr., nominal capital, bearing three
per cent. interest, redeemable in fifty-eight years,
ny half-yearly drawings, the first drawing to take
Place in May next. The price of issue is 92fr. 50c.
A steam packet service has been decided upon
between Venice and Ancona, under the designation
of the Eastern Adriatic Steam Navigation Company.
411 e company receive a subvention of 336,000 fr. for a
weekly service between Brindisi and Venice, with a
brunch to Venice, the municipality of which con-
tribute 40,000 fr. towards the subvention. Four
steamers will be employed in the service. It is ex-
Decl.ed that the same company will undertake the
service to Trieste.
The annual general meeting of the Alliance British
eld Foreign Life and Fire Assurance Company has
been called for the Ist of April.
The subscription list of the Metropolitan Railway
closes to-day. The applications are understood to be
autnerous, and to a large extent to consist of paid-up
subscriptions.
The traffic receipts of the Bahia and San Francisco
Railway Company for the week ending February 8,
show an increase of X 1,849, as compared with the cor-
responding week of last year.
The following is from Helmuth Schwartze's wool
circular dated London, March 19th :—" The following
quantities have up to to-day been sold in our public
sales :-30,268, Port Phillip ; 12,908, Sydney ;
-,,45,001, Adelaide ; 2,668, New Zealand ; 792, Van
uiewan's Land ; 544, Swan River ; 28,191, Cape ;
and 738 sundries—total, 91,110 bales, leaving 25,000
ales still to be disposed of. There was last- week a
'Oll in the spirit of the sales, which were less
numerously attended than at the commenc-
tient of the series. During the last few
$ days, however, the former activity has re-
turned. Some more buyers have arrived from the
IConntt3iiiliveih
nlitc,iind the sales pass off briskly. As hereto-
fore, the principal purchases are made for the Conti-
ie it' the present rate be continued, will
Vie from 5 to 3-sths of the whole quantity offered.
'ices show no change. Capes are Id and greasy
Australians Ad higher than in November ; washed
ft-nstralians, on a par with November. This will be
13und correct in the majority of cases ; in single
instances the difference is often greater, often less,
Feat irregularity having urevailed throughout the
urse of this series."
tittropolitan District Railway, issue of £
400,000
debenture stock, 1 to lf prem.

ie order of
and of the
he work of
stiff would

;British Columbia, e per,
I cent De 0.31, 1872... ! 100
,Can.Gov.6.p.o.Ja.6:J
1877-81
IDo. 6p. o. Feb. & Aug I 1,0 93 100,
• sp. c. Mar. 2e Sept! 100 98 101
100. sp. o. Jan. t Julyl 100 86 93 VI
Do. sp. u. Inscribed sal 100 t 5 67
Cape G.Hope. 6 p. 0.1873 100 1(4 106
D0..41.&0ct . 1990-19001 100 109 110
DU. do 1830-9 v 100 107 109
Do. Jan..tJuly, 1890-V. 100 106 108
Do. 5 per cent. 15 April
and 15 Oct., 1900 lOO 98 106
Ceylon, Nov. 1878, 6p. c 100 lit 111
Do. 1872, do lOO 105 107
Stauritius, 6p. o, 1873,
Jan. and July
Do. 1378 .
/o. 1882, Mayls, Nov 5 100 107 109
Dl). 1895, Feb. & Aug lOO 11.6 108
Natal ,4ov. 6 per cent lOO
N.B.Gov.6p.o.Ja.&July 100 99 10
N. S.W. Gov.s ire., 1866 100 99 101
Do. 5 p.c. 1821 to 1870 100 98 99
Do. 5 p.c. 1888 to 186 100 954 964 981
New Zealand, 6p. cent 100
Do. 5 per cent....
Nova Scotia Gov. 6p. c
sterling, 1875 l9O 102 104
Queensland Gov. 6p. e , 100 103 105
- "6* Au6•l4°Y• 6 P.0.1868-9' 100
Do. 1878 & upwards ll'o 110 111
- ,
Vic,Gov. 6p.o.Ja.JtJuly 100
- Do. do, April & Oct ; 100 110 112 1121
BILITISII rOSSESSIOXS.
0) A.tiantio& St. Lawrence all Al 46
Rom.,Baroda, & Cen.ln. 100 1024 1031 1931
I gu. 6 per cont...
20 Do. F shares lO 4 4p
404 Buffalo t Lake Huron all 3 4
10 Do. Preference all 5 6
100 Butr.,Brant,&Goderich
it p.c. 100 68 71
at c.;alcutts. (12 5. E., lim lOO
,'al e Town 4SL Dock, gu lOO 18 62
00 Demerara, 7 p.c. per. pi all 99 102
st teat Bengal, gu., sdo 100 4044 4C54
at East Indian, gu. 5 p.o. 100 109 110 110
40 Do. J Extension
at '.randTrunkof Canada 100 15/ 164
100 Do. Equip. Mort, Bonds
1 charge 6 p.a all 78 62
100 Do. Ist Pref. Bonds all 43 45
100 Do. do deferred ail
100 De. 2d Pref. Bonds., all 83 35
100 Do. do. deterred
100 Do. 3d Pref. stook all 27 29
100 Do. do. deferred
100 Do. 4th fret. stook
100 Do. do. deterred
at t. India Pen. gua. sp. e lOO IC9 110 1021
o. Gua. 5 per cent lB 14 2pi
20 Do. New gua. sp. c 6 14 2 0
at it.. South of India
gun. b per cent
at D. 11 per cent lov 94 16
81 Do
204 !;rest Wee. of Canada all 161 161' 16
204 Do, New .
.00 Do. 6p. pay. 1871 all 98 100 91
100 Jo. 51 do. pay. 1877-8 all 91 93
at Atadras, gua. 5 p.o 100 100 103 103
at Do. 41 do
at Do. 41 do lOO 89 91
29 Do. Filth Extension 5
at Alelb. Cor. 6p. c. Buds. 100
SO ‘ti Elobsoc's Bay all
at ;N.ll.l.C'da. ape lstpt.ba j 100 83 65
It 'Dude Ithiik'nd, g. 5 p.O `OO lui 105 1031
at seinde 100 tuu 101
at Do. Delhi
20 Do. do l5 v
st Do. Puniaub.... as lou 101 101
at !Do-Indus St.Flot '4" 31e. e 7 89

ELECTION INTELLIGENCE.

- .., ____

HUDDERSFIELD.

Yesterday morning the poll was opened with great
spirit on both sides. At 12 o'clock Mr. Leatham,
the Liberal candidate, had received 981 votes ; Mr.
Sleigh, the Conservative candidate, 688. The poll
closed with the following result :
Leatham ••• ••• 1,112
Sleigh... ... ... ••• 785
Majority ... •• • --327

BRITISH FUNDS-CLOSING PRICES
GOVERNMENT FUNDS.
8 per Cent. Consols
.uo •
a • Account, April 2
tsiPer Cent. Reduced 9ll 2
ll' 3 per Cent 921 11. 2
7, 21 per Cent. Jan. 1894 75
4.4-I°. 5 per Cent. d an. 1873
Annuities, 80 yrs, expire sth Jan., 1880 - xd
~,uO. for 30 yrs, expire sth April 1885 -
E u° (Red Sea Telegraph), Au,.,„ 1908 -
Elcequer Bills, £l,OOO, 2 per Ct. - pm
Do £5OO ll pm
g Do. £lOO & £2OO - pm
1,,,11k of England Stock. 41 per Cent Shut
''-'O. Account
1,,,,, INDIAN GOVERNMENT SECURITIE.
"`",,ia Stock, 101 per Cent., April 18746 215 16k
'-',.,0• A.ccount
D°• 5 per Cent. July, 1880
"„0. 4 pe?: Cent., Oct. 1888
0. Certificates
tu.,o. Eufaced Paper 4 per Cent
-r-,°. 5 per Cent., Jan. 1872 -
/-1-°. 51 per Cent., May 1879 -
--() 5 Cent.,
per Rup, Deb., 1872 -
Do, do. 1877 -
DO.
D do. 1882
'-
-•• nob 5 per Cent., Aug. 1873 ~
11)0. Bonds, 5 per Cent., £l,OOO
1)0. under £l.OOO - pm
Pin
Ar r °REIGN FUNDS-CLOSING PRICES.
.
A_ ,entine Republic, 6 per Cent. -
)3rilttrian Bonds, 5 per Cent. 1859
;Milan 5 per
b.)* 4/ per Cent., 1852 -
ii°o: do., 1858.... , _
18'W
-
D°do.,
D°
do., 1863 -
C• per Cent, 1865 -
liti 0 Account 721 11
-iftios Ayres 6 per Cent -
0 "b 4 2 her Cent.' (Deferred 3 per Cent ) -
O'A 6
~liil Per Cent. -
Ulan 6 per Cent -
1)% 41 per Cent 67
b°. 6 per Cent., B . -
b., 1867
1..)0,:' 7 Psr ,Cent., 1866
0 ".) Scrip £32 paid' -
t), Jnbi,in, 6 per Cent. -
1);,,-"'ll 3 p Cent., 1825 -
~;til,ii,n Pr;ncipalities, 7 per Cent -
-uo g
.o,li, , Per Cent., 1867
tl -4`-`°r New Consolidated, 1 per Cent gYptieL -
-
')
' '', i per Cent ••• -
D
,• kSecoad Issue -
I)
°. 410 C Bonds -
bo Ito.
1864
a • 45',0 Bonds B7l 8
q 0(• £lOO Bonds ~... 874
otot,Pri rerre-rit Rail way Debentures .... --
.um', 5 per Ceut., 1824-5, ex Coups -
11 ,; Account -
le • Coupons -
('' Account

THE SUN, LONDON, FRIDAY EVENING, MARCH 20, 1868.

BRI7ISH EQUITABLE ASSURANCE

COMPANY.

The annual general meeting of this company was held
yesterday, at the offices, 4, Queen-street Place, Southwark
Bridge. William lover, Esq., the chairman of the com-
pany, presided.
The usual routine business having been disposed of, the
CHAIRMAN said the first thing for the meeting to hear was
the result of the operations of the past year.
Mr. SUTTON GOVER, the managing director, read the re-
port, which was as follows
« The past year has been the most prosperous of the
company's existence, the policy-holders generally having
invited their friends and neighbours to insure in the
company. 3,889 new policies have been issued, assuring
£661,997 ; the now annual premiums thereon, amounting
to .£20,303 ; au amount of business equalled by very few
of the most prosperous institutions in the kingdom. The
rate of mortality has been very low, both as compared
with the tabular provision and the satisfactory expe-
rience of past years. Sums assured and bonuses amount-
ing to £15,874 have been paid during the year under
110 policies, making the number of claims paid since
the commencement of the company 509, and the amount,
including bonuses, £80,321. The s►un of £768 has been
paid fur the surrender of policies during the past year, a
small sum, considering the number of policies in force with
the company. The loans granted by the company on its
policies have enabled numerous policy-holders to keep up
the provision for their families during a period of general
commercial depression. Tho remainder of the capital of
the company has been issued at £5 per share premium.
The sum of £29,367 has been added to the accumulated
fund during the year, which now amounts to £155,345.
The auditors have carefully examined the securities of the
company. The continued ill health of Mr. Joseph War-
mington, one of the original directors of the company,
having for some time prevented him front attending the
meetings of the directors, he felt it his duty in the course '
of the year to place his resignation in the hands of the
board, who passed a vote of thanks to him for his long and
excellent services to the company, and elected Mr. William
George Lemon as a director in his place. The Board have
appointed in his room, until the annual meeting, Mr. Wm.
Smith. The company has also lost an old and staunch friend
by the death of the late Dr. Tidman, the veteran Secretary of
the London Missionary Society, an active policy-holder
of the company. The remarkable growth of the com-
pany is striking evidence of the value of the principle of
true mutuality as practised by the British Equitable As-
surance Company. (Cheers.)
The CHAIRMAN said their manager always on such
occasions favoured them with a few additional remarks,
therefore he had now to ask him to proceed.
Mr. SUTTON GOVER then addressed the meeting as fol-
lows :—lt is eminently satisfactety that in a year of such
general commercial depression and distress there should
have been effected a much larger increase in
the company's business than in any former year.
The new policies issued during the last three years have
been as follows :—Reported in 1866, 2,073, £353,700; 1867,
2,845, £501,175; 1868, 3,889, £661,997 ; total, £1,516,872.
We have now 14,474 policies in force assuring £2,454,896.

At our tenth annual meeting the business in force was
7,860 policies, assuring £1,312,970. At the end of the
thirteenth year it is 14,471 policies, assuring £2,434,896,
so that the business has increased nearly as much in the
last three years as in the prior ten years. The amount of
death claims and bonuses paid in the year 1866, under 67
policies, was £14,199 ; in the year 1857, under 110
policies, £15,874. The sum paid for death claims
and bonuses from the commencement of the com-
pany under 509 policies is £80,321. The direc-
tors having determined to close the capital of
the company; the whole of the original shares wore issued
at a premium of £5 per share, being 50 per cent. of the
amount of the call with scarcely any expense, and in
about a month from their intention to do so, so that the
whole of the capital of the company is subscribed, and the
10 per cent. call thereon and premium paid, with the ex-
ception of about £2,300 in course of payment. The
Accumulated Fund has been increased during the
year by £29,367, making the amount laid by in the
last three years £75,678. It now amounts to £155,315.
It was with much regret that the directors accepted the
resignation of Mr. Joseph Warmington, one of the original
directors of the company, on account of continued ill-
health. Tbis resolution, having been emblazoned on Tel-

lum, was presented to him. It was unanimously re-
solved that the board of directors hereby express their
deep regret that Joseph Warmington, Esq., one of the
original directors of the company, feels it his duty to
resign his office, because his continued failing health
precludes the possibility of his attendance at the board,
&c. ; they desire to express their deep sense of his
diligent and faithful discharge of his duty as a director of
the company from its formation, and the groat value of the
services he has rendered, which have so materially con-
duced to the growth and solid establishment of the com-
pany. Nor can they part with their honoured colleague
without stating how much his kind and urbane manner
and wise counsels have premoted the harmony and
efficiency of the executive of the company, and they
trust that his health may be improved and his valued
life long spared ; and they further tender him their
cordial remembrances and good wishes." The board
elected in his place, until this meeting, Mr.
William George Lemon, whose influential connections,
energetic business habits, and capacity for hard work,
peculiarly fit him for the office of director. We have
lost by death, Dr. Tidman, who gave on several oc-
casions numerous introductions to his influential
circle, with a view to extending the business of the
company ; numbers of our policy-holders have done as
much. I wish they would all feel it their duty to do so.
Life assurance is one of the most benevolent forms of the
application of association, co-operation, and brotherly
love, and is doing much to lessen pauperism. Possibly
pauperism is preventible. The causes of pauperism
are ignorance, sloth, folly, vice, and calamity. 'There
need be but little pauperism in this country besides
that which is the result of errors. Almost every form of
calamity, so far as it tends to produce pauperism, can be
defeated beforehand by societies of mutual assurance.
A. useful illustration of the philosophy of saving is
put in the mouth of Mr. Micawber by Charles Dickens'
"Annual intone twenty pounds ; annual expendi-
ture, nineteen, nineteen and six; result, happi-
ness. Annual income, twenty pounds ; annual expen-
diture, twenty pounds, ought and six ; result, misery."
Levasseur, who, at the instance of the Empress, has lec-

tured to the working men of Paris on Life Assurance, says
" Saving is the mother of capital, and capital is the fund
with which wages are paid, the indispensable instrument
of all production, and everywhere the material foundation
on which is seated our modern civilization. We cannot
too much recommend two virtues, which, when they are
united with instruction in a free country, are all
powerful for the prosperity of nations, as for the well-
being and the independence of individuals ; the labo-
rious activity which creates the saving that preserves."
Life Assurance is doing much good. Millions are paid
by the life offices every year under policies which avert
so much pauperism. Probably 20,000 families receive the
sums assured. How much better it is for the head of a
family, that instead of vying with his neighbours in un-
necessary expense, ho should spend less and asuro more.
Industry and thrift aro the father and mother of good luck.
Saving is the parent of wealth, and life assurance saving
the defence of families when their Heads are no more.
The CHAIRMAN, in moving the adoption of the report,
said the recurrence of their annual meeting was always a
great happiness for him, because it invariably fell to his
lot to have to congratulate those present on having ex-
ceeded their former year's results. Ho had never had to
come before them with apologies. (Hear, hear.) They were
always pleasant meetings, but he must confess that there
never had been such good grounds for congratula-
tion as on the present occasion. The past year
had, ho regretted to say, removed from them
one of their directors, Mr. Joseph Warmington. He was
a gentleman of the kindest disposition, and one whose
greatest desire was to increase in every way the prosperity
of the society with which he had boon so long and inti-
mately connected, He could not express the deep regret
he felt at the loss, but in his successor, Mr. Lemon, he
thought they had secured a gentleman every way qualified
for the duties so ably and honourably fulfilled by
his predecessor. In reverting to the business of
the last year he had to say they, that day,
brought their good ship into port, presented her papers—
(cheers)—and they spoke for themselves. (Loud cheers.)
The present was the harvest day for their agents ; they
doubtless had had battles and conflicts, but the grand re-
sult of their exertions must be particularly cheering. The
society was much indebted to their agents for the energy
and perseverance they had evinced in furthering its use-
fulness; and it was indeed a gratification to know that no
society was better represented in different parts of the coun-
try than the British Equitable. The increase in their con-
nection was an unmistakable evidence of prosperity,because
an increase of business in a society like theirs developed
life—because no one liked to be connected with a deadly-
lively thing—(laughter) ; and another matter of importance
was that an increase of business improved the average of
the lives of those assured. It was putting so much new
blood into the society—(hear, hear)—and that important
process could but result in strengthening and invigorating
it, a circumstance which gave, he was sure, unmixed
pleasure and delight to every gentleman present. (Cheers.)
He had great pleasure iu formally moving the adoption of
the report.

Mr. E. DUNN said he rejoiced to be present to-day when
such a successful report was presented. Their agents had
evidently worked hard, but that success had resulted from
those efforts must be particularly gratifying to them.
(Cheers.) The statement of the managing director was
also so satisfactory that it hold out groat encouragement
for future exertion. (Cheers.)
The report was then adopted unanimously.
Mr. F. J. Hartley and Mr. W. S. Gover, the directors
retiring by rotation, having boon re-elected, both gentle-
men returned thanks for the confidence reposed in them.
Mr. W. G. Lemon was then proposed as a director in
the place of the late Mr. Warmington, and Mr. W. Smith
as an auditor. Both gentlemen were elected unanimously.
A vote of thanks was then awarded to the auditors,
which was acknowledged by Mr. OBBARD, who bore his
testimony to the admirably clear and understandable
manner in which the accounts wore kept. A similar
compliment was also awarded to the Managing Director,
the medical officers, and the agents, and the proceedings
were brought to a close by a cordial vote of thanks to the
Chairman for the manner in which he had fulfilled the
duties of tho day.
The CHAIRMAN thanked the meeting for the kind re-
cognition of his services, and again said it was oue of the
pleasures of his life to be present at their annual meet-
ing.