The Liverpool Standard and General Commercial Advertiser.
Liverpool, Merseyside, England, 1854-01-31 00:00:00

LIVERPOOL SAVINGS' BANK.

THE thirty-eighth annual report of the Liverpool
Provident Institution and Savings' Bank, which
will be found in our advertising columns, affords
some interesting particulars respecting this valu-
able institution for encouraging habits of economy
and frugality in the humbler classes. It appears
that the whole sum due to about 20,000 depositors
is no less than £655,000, of which above £40,000,
was added during the past year, and that the in-
terest alone amounts to about £20,000 a year. In
the classification of accounts there appears to be a
great variety as to the amount, those of about
twelve hundred depositors averaging less than £BO
each, while nearly fourteen hundred depositors
have amounts which average £l4O each, fifty-two
of them being above £2OO each. In the classifica-
tion of depositors it appears that the largest pro-
portion in numbers and amount are artizans, and
the next largest class females, while no less than
£87,000 belongs to 2,747 domestic servants. In-
deed it will be seen that the persons most largely
benefited are those for whom savings' banks were
more especially designed.

The Rev. J. J. Butler las been assiduous in the discharge
of his duties as chaplain during the past year, and it is
hoped that God's blessing has attended his zealous minis-
trations.
Mr. HARMAN, the secretary, read the treasurer's annual
statement, which showed a balance of £399 against the
institution.
Mr. TINNE, in moving the adoption of the report and
statement of accounts (for this and other resolutions see
advertisement), spoke in terms of gratulation of the satis-
factory state of the institution. Since its formation in
1845 it had continued to increase in usefulness, and was
more appreciated by the seamen frequenting the port.
There was one matter, however, to which the attention
of the public ought especially to be drawn. He did not
think the school for giving youths a knowledge of mer-
cantile marine, and which was calculated to be of immense
usefulness to the pert, was sufficiently known. (Hear,
hear.) Whether the fault lay with the shipowners or the
shipmasters he could not tell ; but he was astonished that
comparatively so few boys availed themselves of the great
advantages afforded by the school. (Hear, hear.) It was
conducted by a master of the highest qualifications, and
there could not be two opinions as to the benefits it would
confer upon those who sought them.
The adoption of the report having been seconded by
Mr. MANN, and unanimously adopted, Mr. BOOKER pro-
posed, and Mr. TommissoN seconded, the next resolution,
which was also passed.
On the proposition of 'Mr. RANKIN, a vote of thanks
was accorded to the chairman, Mr. Aikin, and to the other
officers of the institution, to which Mr. AMIN responded.
Mr. COTESWORTH, in proposing a vote of thanks to
Captain Ainley, and the other officers of the institution,
including Mr. Harman, the secretary, spoke highly of the
zeal and industry with which they had discharged their
duties. He also coupled with his motion the name of Mr.
Boardman, who, though not now connected with the
Sailors' Home, was entitled to their thanks for the satis-
factory manner in which he had conducted the Savings'
Bank, and his system of cashing notes. The proposition
was unanimously adopted.
On the proposition of Mr. TYREE, seconded by Mr.
CROSBY, a vote of thanks to Mr. Aikin, for his conduct in
the chair, terminated the proceedings.

LIVERPOOL EXCHANGE
B UILDINGS.

The CHAIRMAN read, as follows, the statement of ac•
counts :

THE LIVERPOOL STANDARD, AND GENERAL COMMERCIAL ADVERTISER.

THE annual meeting of the company of proprietors of
the Liverpool Exchange tiras held at noon yesterday, in
the Cotton Sale-Room. Mr. James Bateson in the
chair.

" The proprietors of the Liverpool Exchange in account
current with John H. Younghusband, their treasurer,
from the Ist of January to the 31st of Dember, 1863, both
inclusive. By rental of the building, from 31st December,
1862, to the 31st December, 1853, £6,836 17s. 6d ; dividend
on amount charged in 1848, £5O ; bank interest, £llB 3s. ld.
By amount of subscriptions to News-room, &c., annual,
2,499 at £3 35., £7,871 17s. ; quarterly, £292 19s. • sale
of newspapers, &c., £348 3s. 7d. Total, £15,518 Os.
2d ; by balance brought down, £7,498 Bs. 5d ; de-
duct amount to be transferred to the contingent
fund, £lBB Bs. sd. ; disposable balance, £7,310. -
To amount paid on account of building, viz.,
joiners' work and iron work, £7l 3s. 10d. ; masons',
slaters', and brick work, £lO6 9s. 3d. ; plumbers', glaziers',
and painters' work, £l4l ls. 10d. ; insurance from fire,
taxes, and law charges, £430 18s. 9d. ; property tax,
£254 13s. 6d. ; salaries and incidental expenses, £416 16s.
10d. To disbursements on account of news-room, viz.,
newspapers and other publications, £2,273 14a. 4d. ; tele-
graphic intelligence, £300; coals and gas, £lOO 17s. ld. ;
rates and taxes, £257 16s. Bd. ; salaries and contingent
disbursements, £1,146 Os. Bd. To amount paid in lieu of
the right of nomination to the news-room for 1853, on
800 shares, at £3 3s. per share, £2,520 ; to balance,
£7,498 Bs. 6d. Total, £16,518 Os. 2d.- Contingent fund
invested in the new 3} per cents, £3,724165. 10d.
Mr. THOMAS Bovrox asked what the balance was as
compared with the previous year.

The CHAIRMAN said last year it was £7304. The
great increase of expenditure was in telegraphic commu-
nications, which had cost £3OO, and in renewal of leases
about £95. The whole of the expenses were less, but the
receipts were more than in the previous year. The Con-
tingent Fund,which last year was £3,400,was now £3,724.
He might remark that the committee had found the
system of paying dividends by the treasurer a little in-
convenient to many proprietors, who had to call at the
office for their dividends ; and the committee had there-
fore adopted a system of paying them by a warrant, which
they hoped would be satisfactory to the proprietors.
Mr. ZWILCHENBA.RT observed that the rent of the land
on which their buildings stood had increased within a few
years £l5 or £2O the square yard, and it appeared to him
that in proportion the rents should be raised.
The CHAIRMAN said their rents were upon a lease of
seven years, and they had increased them ten or fifteen
per cent. eight years ago. They thought, by, the advice
of their surveyor, that the rents were high enough, and
they had since renewed the leases for another seven years.
Mr. ZWILCHENBART said, if one gentleman was an ori-
ginal shareholder at £lOO, and he had had to come in at
£3OO, their position was quite different : so if the land in
that part of Liverpool from £lO was now worth £4O a
yard (and he believed that had been paid), the revenue
should be four times as much as in former times. If all
their property was let, he thought they should have some
previous understanding that when their offices were to let
again there should be a higher rent got for them than
before. _ _ _

Mr. JA.CQVICS Muss said it should be borne in mind
that from 1801 to 1818, the old shareholders never got a
shilling dividend, so he did not think that the old share-
holders were in such an enviable position as Mr. Zwilchen-
bart seemed to think. He believed that £40,000 was
taken oat of the original proprietors before a single divi-
dend was paid. (A voice " aopo.") ,Well, £30,000
was a great deal.
The CHAIRMAN—But under the advice of our surveyor,
we consider the present rents about what they should be.
Mr. BOLTON thought, in connexion with that subject,
it would be well to look a little ahead. There had been an
experiment by which some of the buildings around had
been altered or re-built, and that being successfully com-
pleted, he hoped they would go on making them more fit
for counting-houses than at present. Mr. Zwilchenbart
had given the market price of their land, and he did hope
that in a few years, when the warehouses were gutted and
remodelled, they would bring in a larger income to the
proprietors.
Mr. JACQUES MYERS agreed with what Mr. Bolton had
said, and he thought it would be desirable to offer pre-
miums for plans. (Applause.) Even this year they might
entertain it, although the leases had four years to run.
Mr. HARMOOD BANNER said, the subject had already
been fully taken into consideration. Before the renewal
of the present leases, the committee had the advice of their
surveyor,`mid went fully into the question of the improve-
ment of the offices and buildings altogether. It was then
found that, from their original construction, it would be
impossible to convert them into those convenient offices
which were surrounding them in all other directions, with-
out going to such an enormous outlay that they could not
possibly accomplish it without an act of parliament.
Therefore they had thought it advisable, under the excel-
lent counsel of Mr. Stewart, to re-let their offices at a
similar rent to that which had existed before, on a lease of
seven years, being at as little expense as possible, in fact
at no expense in regard to them, which the committee had
considered most advantageous. Their original construction
was defective. They were built for warehouses as well as
offices, and now the warehouses had to be converted into
offices. They could only be converted at an enormous
expense, many thousands of pounds, and they could not
accomplish it without going to Parliament. Therefore,
he thought the proprietors would see that they were doing
well, and, without going to much expense, deriving a
handsome income. As to the value of the shares, what
they were worth before, and what they were now, he was
afraid that Mr. Zwilchenbart did not look at the relative
value of the property. Originally, the £lOO share, as Mr.
Myers had stated, had received nothing. All that time,
at compound interest, it would have come to £2OO ; and
from that time not only had the rents advanced, but the
subscriptions to the rooms. Their property was thus in-
creased in value, and ;he who paid £3OO for a share now
was getting it cheaper than those who got them
at £lOO or £2OO. It was his impression that the buildings
were doing exceedingly well, and, he was sure, they should
be much obliged to the directors for bringing so nice an
account. (Applause.) He thought what they should do
with regard to the costruction of the buildings was to adopt
the old and sensible maxim of " letting well alone."
Mr. JAQUES MYERS said, he could hardly agree with
Mr. Banner, as to not altering the offices. They had cer-
tainly had the talents of Mr. Stewart, and, he believed, he
was adverse to the alteration which had led to the present
Stock Exchange.
Mr. BANNER.—At our expense, but not as they wished
it, nor as it was done, at their's.
Mr. Mvaas said they-liad made those warehouses into
as good offices as could be for £/2760. Now, if they could at
that outlay make such an improvement, he thought they
(the proprietors) should try with one part of the buildings.
(A voice : "Do it by degrees.") The difficulty could not
be got over, Mr. Stewart had said, because there was the
fan-light above the doors ; but he (Mr. Myers) thought
that the judicious way. in which the Stock Exchange had
altered their offices showed that it could be got over.
Mr. BANNER said Mr. Myers appeared to have left out
of his calculation that the work had not been done by the
proprielors of the Exchange Buildings, but had been done
by otliti's, and yet they still got the same rent. He
thought they could not get much more. rent from their
property than at present, for they must bear in mind the
immense competition.
Mr.MYERS thought that they would increase their rent
materially, and that they would be serving, the interest
of the proprietary, if they could get from various archi-
tects plans for alterations, and go on by degrees. He
thought that if they started with the West End, next to
Mr. Horsfall's, the rent would not be doubled, but it
might be made one-third more, (hear, hear,) and the out-
lay to achieve that could not exceed £2,000. He thought
it was worth the committee's while to turn their serious
attention to those buildings, and he was sure that with
the present talent amongst architects, no difficulty would
exist whatever. He would ask Mr. Carson, the solicitor,
if it would be necessary to go to Parliament to raise the
necessary sum, because they had a reserved fund now of,
in round numbers, nearly £4OOO.
Mr. BANNER said that fund was sacred. It was obliged
to be put by, by the act of parliament, for repairs.
The CHAIRMAN.—You will be obliged to go to parlia-
ment for alterations.
Mr. MYERS.—Then why not let off a portion to a party
who would alter them. (Hear, hear.)
Mr. BANNER said that was another thing.
Mr. MYERS thought that parties would offer.
Mr. JOHN 3IYERs said he believed that the Stock Ex-
change sat rent free.
Mr. JAQuEs MYERS said yes, the Magnetic Telegraph
Company would have paid them £l,OOO a-year rather than
miss their office.
Mr.BOLTON thought there would be found a way if there
was a will. They might take a couple of offices at once,
to alter, and if they could not use the reserre fund, they
could get the work done by borrowing money. The only
;inconvenience would be a :,emporary4leficiency of dividend
to tlje proprietors, but taking part of a stack at a time
they go road the wilding without any fox of _a