The Liverpool Standard and General Commercial Advertiser.
Liverpool, Merseyside, England, 1848-03-28 00:00:00

LIFE BRANCH,

Extracts from Rates of Premiums for the Whole of Life.
Age. With Profits. Without Profits,
x s. d. X s. d.
20 1 19 4 1 14 11
30 2 9 9 2 4 10
40 3 4 1 2 18 6
_ so 4 8 3 -

The Company likewise assure Lives on any of the following
contingencies, viz.:— _

,
For the term Of ONE YEAR, SEVEN YEARS, or any other de-
finite period, or on two or more lives.
For the WHOLE CONTINUANCE OF LIFE.—The Premiums to
cease after it LIMITED NUMBER OF ANNUAL PAYMENTS.

For a Sum to be payable at age 60, or at death.
PREMIUMS ON CREDIT.

A portion of the Premiums may remain on Credit, or
Assurances may be effected in various ways not enume-
rated, to meet the convenience of the party making the
Assurance.

The important advantages afforded by the Company in this
Branch will include the following,_viz. :
GUARANTEE OF AN AMPLE CAPITAL, MODERATE PRE-
MIUMS, LARGE PARTICIPATION OF PROFITS BY THE
ASSURED, AMOUNTING TO TWO-THIRDS of its NET
AMOUNT, SMALL CHARGE FOR MANAGEMENT, the
Expenses of the Office being borne in due proportions by the
two Branches',and EXEMPtION OF THE ASSURED FROM
THE LIABILITY OF PARTNERSHIP.
The usual Commission allowed to Solicitors.
__PERCY M. DOVE, Manager.

N.B. The Directors are willing to receive applications from
Persons of INFLUENCE, INTELLIGENCE, and ACTIVITY,
to undertake AGENCIES tl.roughout the Counties of Lancas-
ter, Cumberland, Chester, and elsewhere, it being their deter-
mination only to appoint Agents possessing those qualifications.
Policies falling due at LADY DAY, should oe renewed on or
before the 9th of April next.
22d March, 1848.

The following AGENTS, among others, have been appointed :
dludlem Edward Bellyse Combermere Abbey.
Bolton Thomas Warburton.. Druggist.
Bury T. A. Weston District Bank.
Chorley George Houghton.... Stamp-office.
Chester Samuel Brittain, jun.. Solicitor.
Do. Ducker and Bayne .. Eastgate-row.
Edgehill . John Grierson, 3, Olive-street.
Haslingden Thomas Woodcock, tolicitor.
Knutsford William Taylor Ironmonger.
Lancaster Yeats Welch lO, Penny-street.
Low-hill James Wensley Gloucester-place.
Manchester Thos. Houghland..... 51, King-street.
Do. G. V. Ryder lOO, King-street.
Macclesfield John May colicitor.
Much Wootton Thomas Bancroft .... Collector.
Neston Edward K. Hollingshead, Parkgate.
Northwich George Beckett Draper.
Old Swan 4 Stanley Samuel C. Sneade .... Church-road.
Orinshirk Robert Wareing .... Solicitor.
Prescot Fdward Brown Market-place.
Rochdale Matthew Weston ....172, Yorkshire-street
St. Luke's District, Liverpool.. John Walker, 97, Bold-street.
Scotland-road, Liverpool.. Wm. Roxburgh, 23, Great Nelson-
street North.
Seam:the Hugh Banner
Stockport Thomas Cartwright
Tarporley Williain Aston Grocer & Tea Dealer
Toxteth-park Joseph Harrison .. .4, St. James's-place
Ulvereton T. Pearson Postlethwaite.. Solicitcr.
Wigan Woodcock, Part, and Scott.. Solicitors

Estate Agent,

CORPORATION
(Established by Royal Charter A.D. 1720)

ROYAL EXCHANGE ASSURANCE
OF HOUSES AND GOODS FROM FIRE.

OFFICES-ROYAI, EXCILANGE, LONDON,
(BRANCIf, 29, PALL-MALL.)_

NOTICE.—The usual FiFTWEN Dave allowed for payment of
Premiums falling due at LADY DAY will expire on the 9th
day of April next.
ASSURANCES ON LIVES,
wren LARGE PARTICIPATION IN PROFITS.
_ _ _ _ _ _

Two-thirds of the Profit on Policies dated since December,
1841, will be apportioned periodically, among those effected
for Life, without involving the Assured in any risk of Part-
nership.

Thomas Tooke, Esq
William Sampson, Esq.,
lion. J. T. Leislie Melville
•
DIRECTORS,
Henry Bainbridge, Esq. Sir J. Wm. Lubbock, Bart
George P. Barclay, Esq. Charles J. Manning, Esq.
E. S. P. Calvert, Esq, Henry Nelson, Esq. •
Jno. Garratt Cattley, Esq. Edward H. Palmer, Esq.
Alex. Colvin, Esq. John Henry Pelly, Esq.
Edw. Maxwell Daniell, Esq. Abraham G. R,obar_ ,ts Esq.
William Davidson, Esq. Charles Robinson, Esq.
John Deacon, Esq. Sir Samuel Scott, Bart.
R. W. Grenfell, Esq.' William Soltan, Esq.
William T. Hibbert, Esq. Wm. Wallace, Esq.
Lancelot Holland, Esq. Octavius Wigram, Esq.
John Chris. Lochner, Esq. C. Baring Young, Esq.

Governor.
.Sub-Governor.
Deputy-Governor

-- -
- AGENTS. --
I (Mr. GEORGE LOCH, and 1. * ,
> Water -street,
LIVERPOOL.... Mr. CHARLES INMAN, ~
Mr. J. PRYCE, Tithebm-street.
Ashton-under-Lyne Legh Richmond.
Blackburn Tames Chilies.
Bolton Robcrt Barlow and Son.
Burnley I ord Massey.
Bury
Chorley Charles Wood.
Fleetwood Thomas Pitt.
Kirkham William Cumming.
Lancaster George Jackson.
Manchester J. Williamson & Son, (Market-sl.:
Oldham William Ascroft.
Preston William Taylor.
Rochdale Richard Stott.
St. Helen's
Warrington Thomas Geddes.

Richard Newsham.
The Agents for the County of Chester are:—
BIRKENHEAD Alr. HENRY K. ASPINALI
Ch ster William Worrall.
Congleton . Matthew Andrew.
Macclesfield.
Nantwich • Thomas Derriemer.

Wigan

Northwich
Sandbach.
Stockport.

Thomas Rigby

John Vaughan.
(.7ounty of 'Westmortand :
.Joseph Cranett.
George Whittaker grid eon.
ALEX. GREEN, Secreteryi

Kendal
Milmthorpc

fnstirant£ potirrs.

- -
LIFE INSURANCE ANNUAL REPORT.

SCOTTISH PROVIDENT INSTITUTION
- ,

The TENTH ANNUAL GENERAL MEETING of the
CONTRIBUTORS was held, in the Waterloo Rooms, Edin-
burgh, on WEDNESDAY, the 16th February current. ROBT.
SCLATER, Esq., in the Chair.
The CHAIRMAN said,—l think it due to myself to state that
I have been called upon to fill the office of :Chairman, not from
any qualifications which I possess, but upon the simple ground
that I happen to be the Senior Director. I must, therefore,
crave your indulgence for the very imperfect manner in which
I discharge the duties that devolve upon me. You have been
called together for the purpose of receiving from the Directors
the Report of their proceedings dining the past year. It has
been the privilege of the different gentlemen who have filled
the chair which I now occupy, to congratulate you on the in-
creasing prosperity of the Institution; a privilege which I am
glad to say still remains to me. You will hear from the Report
that v^ `•-•--- ',less than has eve'

re have done a larger amount of busi
been done in any former year of the Society's existence
it must be gratifying to us to knowthat the number of Policies
opened from the commencement exceeds that of any other
i
Office in Scotland at the same period of its history. It s with
no purpose of drawing an invidious comparison between our-
selves and kindred Societies that I make this remark. Imen-
tion it simply as a fact, which, while it is calculated to give us
encouragement, must also be gratifying to us as members of
society in general inasmuch as it shows that the value of Life
Assurance is becoming more widely appreciated. Owing to
the extent of disease which has prevailed during the last year,
the Members will naturally expect that a greater amount of
mortality has taken place among ourselves. While such is the
case, we have cause for congratulation that the deaths, though
exceeding the number is former years, have not, even in the
past year, reached the number exhibited in the Tables of the
Society ; and I may remind you, of the fact, that up to the
period of investigation two years since, the deaths did not
greatly exceed one-half of the calculated amount. (Applause.)
You will have observed by the notice calling the meeting, that
steps have been taken to secure an Act of Parliament, confer-
ring the benefits and privileges of Incorporation. This will be
folly explained to you. I may- state, however, that it makes no
material change in the Deed of Constitution. It only alters
some matters of minor detail, and makes such provisions as
are rendered necessary by the extension of our business in
England. It only remains for me to notice, that the greatest
harmony has existed among the Directors of the Institution,
during the past year, as during all of that time I do not think
we have been called upon to take a single vote. Whatever,
therefore, comes before you, has been brought forward with
our unanimous consent. (Applause.)
Mr. DONALD SMITH PEDDItt, Convener of the Committee,
brought up the Report of the Directors. After noticing some
of the points already referred to by the Chairman, he said :
Al one of the Directors who retire at this time, I may be per-
mitted to compare the state of the Society, in one or two par-
ticulars, at the end of this, its tenth year, as compared with ita
position at the end of the fifth year, when I entered office. At
the end of the first five years. the policies opened amounted to
1200; while at the end of the second five years they numbered
about 3000. The annual income from premiums, at the end of
the fifth year. was £13,150; and at the end of the tenth year,
.e 31,344. The accumulated fund at the end of the fifth year
was under .t 2.8,000 ; whereas it is now not much short of
£lOO,OOO. (Applause.) I submit that nothing could be more
satisfactory than these results. After what has been said by
the chairman, I need only shortly notice the amount of the
claims that have emerged. Considering the almost unprece-
flentedly high mortality of the city during the last two years,
It must be gratifying to know that, even in the past year, the
number of deaths is below the calculations of the Society ; and
that, although the amount of claims emerging is greater than
has occurred in any previous year, yet the amount is very little
indeed above last year, after the annuities which have fallen in
have been deducted. He then called on the Manager to read
the Report, which is as follows :

REPORT BY THE DIRECTORS,

The Directors have again the pleasure of reporting a larger
amount of new business in the past than in any previous
year.

The %umber of Policies issued has been 472 ; the sum assured
by these amounting to £213,631 155., and tne Annual Premiums
to .46171 Os. sd. In addition to these, proposals for a large
amount of Assurances were offered, but declined.
It is scarcely necessary to remark that the past year has been
one of extreme pressure on the resources of almost every class
of society. So large an amount of new business could. there_

•
fore, have scarcely been anticipated; and it is peculiarly grati-
fying, as an evidence of the extension of Life Assurance gene-
rally, and of the growing conviction on the part of the public of
the advantages offered by this Institution. It is interesting at
the same time, in a general point of view, to notice that, so far
as the Directors had the means of tracing, only a very small
proportion of the Assurances were made in connection with
loans, nearly the whole having been effected for purposes of
family provision. The effect of the commercial occurrences of
the past year, and of the general scarcity of money, has, how-
ever, been shown in a different way—in the unusually large
number of Assurances which have been surrendered or allowed
to expire, from inability to continue payment of the Premiums.
While this is a result which, in its general aspect, is to be re-
gretted, there is no doubt it is yet a source of considerable gain
to the common fund.

The number of deaths in the year of Members assured for
capital sums has been 32, and the amount of claims thereby
emerging .e 17,500; on the other hand three Annuities have
fallen in, for two of which sums amounting to ..el5OO had re-
cently been sunk. The third was of smaller amount. Consi-
dering the almost unprecedented mortality over the country,
the Directors do not doubt that the Contributors would be pre-
pared to expect a higher rate in their own body than has occur-
red hitherto, and they consider they have cause for congratula-
tion in the fact that, notwithstanding their increased numbers,
and the now advanced age of some of the memhpr._ the ap.th.

—.•••-• sas,..llGl I.IIG UCtll4l/0
in the year do not exceed one and a quarter per cent. of the
whole number, a proportion considerably short of the average
number provided for by the Tables of the Society.
The net amount of Assurances subsisting at 31st December,
1847, was €1,137,657 9s. ; and the income, from premiums
alone, exclusive of revenue from accumulated fund, .€31,344.
• -

roe position of the London Branch has occupied much of the
attention of the directors, during the year. After mature con-
sideration, they were unanimously of opinion that it was essen-
tial for the interests of the Society that a new agent should be
appointed to conduct the business of the Branch. Unfortu-
nately, some difference of views regarding the constitution of
the Branch, in relation to the general management of the
Institution, occurred between the General Board and the Local
Directors, which, they regret to say, resulted in the resignation
of the latter gentlemen. To their influence is, undoubtedly, in
a great measure, to be attributed the decided success which
has atscioiefl the establishment of the Branch; and it is grati-
fying therefore to know, as the Directors do from the best of
all evidence, that their withdrawal has not in any way dimi-
nished their good will towards the Institution, and that their
influence will still be exerted in its favour.
The Directors do not propose to supply their place in the
mean time, but to conduct the business in immediate connec-
tion with the Head Office—for which the rapid communica-
tion between Edinburgh and London now affiards increased
facility.

Thei have appointed Mr. WILMER OWEN HARRIS to the
office of Agent and Secretary, and they trust that, in this
appointment and iu their other arrangements, they have made
provision for the continued and increased success of the Branch.
In regard to the Glasgow Branch, the directors have much
satisfaction in reporting that its progress is, in all respects,
satisfactory, and that a large increase of business has been
made in the year. They have also the pleasure of reporting the
continued interest taken in the Society by the gentlemen asso-
ciated as an Honorary Board in Manchester. •
In the circular letters and advertisements calling this meet-
ing, the contributors were made aware that the preliminary
steps have been taken for obtaining from Parliament an Act
conferring on the Society the privileges and benefits of Incor-
poration. The Bill contains a few slight alterations on some
of the minor details of the deed of constitution. These have
already been unanimously approved of by two consecutive
special meetings of the Board of Directors, to the latter of which
the Auditors and Trustees were invited—all in terms of Act
37 of the Deed of Constitution.

The Directors have further to report that, a vacancy having
occurred in their number, by the resignation of Mr. Robert
Robertson, they unanimously nominated Mr. AITKEN MEOGET,
one of the original Directors, in his place.
A vacancy having also occurred in the body of Trustees, by
the death of one of their number, the Directors unanimously
appointed to that office Mr. CHARLES COWAN, Member of Par-
liament for the City.

It remains for this meeting to confirm these appointments,
as well as to appoint three Directors in room of the three at
the top of the list, who now retire in terms of the rules.
The heads of the Bill for Incorporation, referred to in the
report, having been read, and the Bill laid on the table—
Mr. JOHN SCRANK AfORE Professor of Scots Law in the
Universityof Edinburgh, said,—l have been somewhat unex-
pectedly called upon to propose a motion for the adoption of
this meeting, which, however, I do with the greatest pleasure,
because I have always taken a deep interest in the success and
prosperity of this Institution. I had many interesting consul-
tations with my late friend Mr. Cleghorn, before this Institution
was formed, and I was so satisfied of the sound and scientific
principles on which it was based, that I never doubted that, as
soon as they came to be understood, it would meet with that
general favour and support which I am glad to see it has, to
such an extent, received. There were two great principles on
which Mr. Cleghorn proceeded. The first was to make the
Premiums as low as was consistent witli the entire safety of the
Institution, and so as to secure, beyond all risk, the fulfilment
of its obligations. In this respect, most of the existing Assur-
ance Companies had been misled by the Northampton tables,
am:lliad made the Premiums for yowls, lives—in which I in-
clude ages up to fifty or so—much higher than was necessary,
while their tables for the older lives were somewhat too low.
This error was perceived by Mr. Clegliorn, who, from more
recent and better calculated mortality tables, found that the
premiums for these younger lives could be safely and very con-
siderably reduced; and he framed a table which all subsequent
experience has proved to be singularly correct. I am happy to
say that, since this table was framed by Mr. Cleghorn, the
Registrar-General of England has appended to one of his late
Reports a table for the guidance of Life Assurance Societies ;
and it is very gratifying to find that the rates specified in that
table are nearly the same, and in many instances precisely the
same, with those of this institution. Now one of the chief and
immediate benefits resulting from this reduction of the pre-
miums upon the younger lives is, that it operates as a direct
bonus in favour of every Insurer, when the premiums of this
Institution are contrasted with those payable to the older As-
surance Societies. It operates in this way. A person of twenty
years of age, insuring with this Institution, can, for the pay-
ment of the same annual sum which other offices would demand
for, insuring 4100, insure here 4115 or 4120, payable imme-
diately on his death. The Premium payable to this Institution
for £lOO is -41 15s. ad., while, in other Offices, it is 42 Is. 6d., or
or 42 35, 2d., and, in some, still higher. There is thus an
immediate and certain benefit secured by the lower rates of
premium. But the second, and most important improvement
suggested by Mr. Cleghorn was this, that if any profits should
be made, after payins, all expenses and securing all the obliga-
tions, as must be the case, even at his reduced rates of pre-
mium, these were not to be frittered away among those insurers,
or their representatives, whose contributions to the general
fund could never possibly have tended to make such profits,
but should be reserved for distribution among those contribu-
tors whose payments into the general fund had come to be equal
ti the sum assured. The importance of this improvement has
never, I think, been sufficiently estimated. And truly the
practice which has prevailed in several highly respectable and
flourishing Mutual Assurance Societies, of giving a share of
what they call their bonuses or profits to the representatives of
every insurer, who has been such- for five years, is, to say the
least, very strange, and seems to indicate a very limited know-
ledge of the true principles of Life Assurance. It reminds me
of the old rule by whi..ll originally all lives, whether young or
old, were equally insured at the same invariable rate of 5 per
cent. The absurdity of this rule was soon discovered; but
truly the other is not much less absurd. Why, in five or seven
years, every life should get the same share of what are called
profits, is utterly incomprehensible. The delay is plainly in-
tended to approximate somewhat to the sum assured ; but this
can never be done upon reasonable principles, till there be a
graduated scal, corresponding to the age of the parties, ac-
cording to which the profits shall be distributed among the
policies which fall. If any Office were to insure a person at 75
years of age, which, I dare say, few Offices would no, 1 have no
doubt the premiums would be so high that, in five years, it
would approximate to the sum insured ; and if this sum were
4100, and if 2 per cent. yearly of profits were to he added, for
each of the five years, supposing the policy then to fall, the sum
payable would be 4110. But suppose a young man of 20 to
insure 4.100 at £2 a year, and to pay the premium for fire
years, and then to die, his representatives would equally draw
2 per cent. nearly upon his policy, and would also get 4110, so
that all that the office would receive by this transaction would he
the inter eat upon the premiums wide)) had been paid. Nothing,
Surely, can be more absurd than this. It might be thought
that these representatives, drawing the 4.100 insured, or 490
more than they had paid into the office, noald get- a sufficiently
-handsome return fee the. policy ;.• and ully, !c:-FE and abase,
they should have ail the prenitiurns returned to Mem, under the
name of benue,l cannot tonCeive, Yet this is the footing upon

Which a great deal of insurance business is done ,• and it is very
apparent how greatly such a system must withdraw the profits
from those who alone contribute to their being formed. Even
in this Institution, low as the premiums for the younger lives
are, I know that such an ample provision was made by Mr
Cleghorn for the expenses of management and for conti,-
losses, that there must ultimately be very conslderable
realized; and surely those by whose contributions such
are realized ought to draw them. This is the principle on
the main improvement made by Mr. Cleghorn hinges.
though the prosperity of this Institution has been very r(
able, I am far from being surprised at it ; and '
that, the more its principles are known and st,
favour will it receive from the public. I desire to make no _
vidious comparison with other similar Institutions. I rejoice
in the prosperity of all of them, because I see in that prosper;'
much that must conduce to the moral and economical w
of the community. And all I wish is, that, in th- -
their management, they shsuld be guided 1--
tific principles. I observe that, ever
mencement of this Institution "- -
and progressively increasing.
182 Policies were issued, and that,
number has been regularly increasing,
they amounted to 472, being 56 above the
low me,. then, to congratulate this meeti, r
prosperity of the Institution, and to prop'
tion which has been put into my hands'
approve of the Report by the Directo•
the appointments thereby
introduced into Parliament by
for Incorporating the Scottish Pi
firming the Laws and Regulations
Society to sue and be sued, to take
for other purposes relating to said Si
read; and of the alterations upon
proposed to be thereby effected; an
to proceed with the requisite mea
passed into a law, subject to such al
by Parliament, or as may be cons.
Counsel to whom it shall be remitt
revisal."

I am per
udied, th

sound and s

I see that, durit
each succe

Mr. JOHN M'CRAW
latter part of the motion, althe
the Directors, I would like to
alterations which the Bill refs
Constitution ?
Mr. JOHN HUNTER, jun., sa
M'Craw should be satisfied upo
very first clause, contains a d
thing herein co tained shall re
from any contract, responsibilit
gation to which the said Societ
liable, but the same shall contit
been iivorporated under this
herein contained shall be held t
of Constitution, and Laws and 1
any of the powers therein contair
other alterations of the said D'
be made, in virtue of the pow
ing always in so far as the sal,_
by this Act, or are or shall be cu.
meaning_thereof." I can assure M
alterations whatever on the Deed of
or two minor matters, rendered ru
the business to England. hide&
alteration is that on the arbitratif
arbitration, as it stands at present
every person who may have a lisp
is bound to enter into a reference
burgh. This clause would of cc
case of Members resident in F-
dispensable that some alters'
Act of Parliament. The "
obligatory on cart--

farther

ereof, for enabling
rid to hold nrope

sures for

o aaopt at once the
very confidence in
'hat are the precise
,es in our Deed of

the com-

Jeen steaally
its first year,

the followir
That the M

pprove of
'S, entitled

,meet, or obli
or shall be hereaftp

s given 1

ch 'has n
of Con st
ie the Di:

?ns as may t

the Direct(

s quite proper that
point. The Bill, ii
eclaration—" That

of Consi

havii
.arbitration at all. It gives
ing to enforce their rights
open to all, or to insist on the
to two parties mutually chosen
England, the arbitration may n
forcing them to go before the Si
will be observed, is a provision W-
and others, who may have cl,'
respects the Bill confirms the
tution, and merely confers on tt
valuable benefits and privileges
bodies, which carry on
Ireland.

Low take]

tered or varied

there are n e

the exter
y that t
ty that cl

ms on tt

ff of
table ii

Mr. J. F. MACFARLANE said, I have bee
upon to second the motion approving of t
now been proposed by Professor More
enter so minutely into the question ti
Learned Professor, as I have had my at
larly directed to another—a very distingu
Institution, with which I am connected:

I look on all these Institutions as brethr
object in view. The business of L
infancy. Every one of such Institu
form one of our national defences.
about this of late ; but it appears to
this kind spread, every one of therr
the preservation of good order, and
veiling here and elsewhere. Certair
naval and military establishments rr
together. (Hear.) In reference to
have submitted, it is well that the qt
Al`Craw before the approval of the in
it has been put, and distinctly ansm
be satisfied there is no invasion
holds, or any thing introduced t
only what is essential to the
of the Institution. As the n

We hi%

pears to

d securit

3ill which the Dir

lad is c

basbeen put by

is given. But, after
very one of us must
it which any. partner
•ulated to injure, but

a measure of considerable importance to the Society, I think
this motion will now meet the cordial approbation of even/
gentleman present. (Applause.) On the gf '
Life Assurance, were they not now sc
like to talk a while; for there is nothin,
security and comfort to a family I
provision is secured for them. But
into this. Allow me, therefore, j
bers on the great.and extraordir
disadvantageous mourns

rity is thus given that it will Contiiiiieic.
no doubt that it will go on at such a ratio
satisfactory to all parties. I have much r
seconding the motion for the approval of
The motion was then put to the Meet
and carried unanimously.

►1 advant
Dwn, one

give greater
wledze that a

nourish; and I have
ts will prove highly
!asure, therefore, is
e Report._

y-the Chair

Mr. WILLIAM JOHNSTON? Of Kirkhill, p.aidi—l rise to ask
you to join me in A very pleasing duty, that of retuning thanks
to the Directors for their valuable services during the past
year. I feel very sure that, when we think of the great extra
labour they have in perfecting the matter of the London agency,
as well as framing the Bill now before Parliament, which I
trust will soon be the law of the land; and, above all, when we
think of the great extra services necessary to transact such a
large amount of business, now in connection with the institu-
tion, we must be at once prepared to give them our warm and.
hearty thanks. (Applause.)
Mr. WILMA Cu URCH, jun., of Glasgow, seconded the mo-.
tion, which was carried amidst acclamation.
Mr. C. J. Kean, banker, said,—l am sure the Meeting will
join with equal cordiality in tendering a similar compliment to
the Boards at Glasgow and Manchester. (Applause.)
A vote of thanks was also given to the Auditors and Trustees
and to the Office bearers of the Society.
The management for the ensuir.-
following Gentlemen ; the three -la..
elected by the Meeting, instead of the
tion DIRECTORS.
Charles Morton, Esq., W.S.
George Meikle, Esq., Merchant.
Aitken Megget, Esq., Merchant.
Alexander Jamieson, Esq , Merchant.
John Parker, Esq., Stamp Office.
James Cowan, Esq., Paper Manufacturer.
John Hunter, junnir, Esq., W S.
Alexander Keith Johnston, Esq., Geographer to the Q
William Oliphant, Esq., Publisher,
William Fraser, Esq., W.S.
Archibald Thomson, Esq., Merchant.
Charles Black, Esq., Publisher.
Robert Hunter, Esq. Sheriff of Bute.
Francis Richardson, Es_q7 Merchant.
James Cathcart, Esq., Wine Merchant, Leith.
AU DITORS.
C. W. Anderson, Esq., Merchant, I
James Crawford, jun., Esq., .W.S
Alexander Bryson, Esq., Watch'
TRUSTEES

year was then vested in the
---- xi Directors being
ho retired by rota.

David Hector, Esq., Advocate.
James Alexander, Esq., Wine Merchant
James Peddle, Esq., W.S.
William Campbell, Esq , of Tillichewa
Charles Cowan, Esq., 31. P.
Bankers—The National Bank of Scotland.
Medical dicers:
Sir George Ballingall, Professor of 31ilitary Surgery
Dr. James Duncan, 12, Heriot-row.
Solicitor—William Pollock, Esq., 13, York-place.
hfanager—J A mES W ATSON. Secretary—JOHN %SAT

of Tillichewan.

LIVERPOOL.
Medical Officer—Dr. Moffat, 37, Bedford-street Nort
Agents,
WM. HASLITT and Co., 13, Oldhall-street,
From whom Tables of Rates, and any Papers connected wit!
the Institution, may be obtained.

THE NORTIIERN EXPEDITION.—Sir John Richardson
and Dr. Rae left this port on Saturday, by the steamer,
for New York. On reaching the latter city, they will
proceed northward with the greatest possible expedition,
and, should no unforeseen accident occur, will, in all pro-
bability, reach the mouth of the Mackenzie about the
middle of August, and forthwith commence their search
for Franklin and his party.
MR. FISHER'S PUPlLS.—Yesterday morning, the R
Henry Carpenter delivered a beautiful and impressive ad-
dress to the young gentlemen of Great George-street
Academy. He selected for the basis of his remarks the
following appropriate words :—" Moses was skilled in all
the learning of the Egyptians." He showed the value of
the different branches of learning in the discipline of the
mind ; the necessity of close application and perseverance
for the attainment of a thorough education ; and, above
all, the vast importance of a correct knowledge of the Holy
Scriptures:for the salvation of their precious souls.
Exilca,AprEo. ',nom Liy.e.roOL FOR THE rIRSTTHREN
MONTHS OF 1847 AND 1848.—8 y the kindness of Lieut.
Hodder, R.N., we are enabled to afford our readers the
following return of the numbers of persons who have emi-
grated this year, as compared with the first three months
of 1847. Up to the 31st March last year, the numbers
were 30,004 persons. This year there is a sensible de-
dine, the number being, including those in vessels which
cleared out to sail yesterday, only about 22,000. There-
is a few days difference between the periods comprised in
the two returns ; but the falling off will be fully one-fourth
this year. It is observed that., whereas last year nearly
the whole of the passengers were Irish, this year so far a
large portion are English, composed generally of opera-
tives and others from the manufacturiag districts. In
one vessel, which was to sail yesterday, nearly the whole
number of passengers were English, and of the above
classes. This feature is well worthy of notice. The re-
turn includes one vessel for Australia. To Canadian ports,
none have as yet gone ; and it is significant, as to the
effect of the new regulations of the Canadian legislature,
that up to this day, only one ship—which is to sail early
in April—has been chartered to carry passengers to British
America ; whereas, by the same date last
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TIIE NEW CIRCASSIAN FALETOT:=OIIr townsmen,
Messrs. Maddox and Vane, of 80ld-street. -have lately
invented a handsome new overcoat, called the Circassian
Paletot, and which, we think, seems likely to obtain a
popularity equal to that of the Paletot and Wellington
Surtout. From the experience Mr. Maddox has had as
foreman in various London and Oxford houses, as well as
in that of Messrs. Dawbarn • and Mr. Vane, from the
establishment of Messrs. H. J. and D. Nicoll, Regent-
street, London, we feel confident that this new •coat of
theirs will be worthy of the patronage of the gentlemen of
Liverpool. The cloth from which this coat is made con-
sists of the finest Saxony wool, which enables it to receive
and retain the finish of the best West of England cloth.
The shape is quite novel and gentlemanly, and from the.
elasticity of the material it will be found a luxurious gar-
ment, being cooler than the ordinary make of cloth. By
invalids this coat will be found an indispensible article of
the wardrobe, the cloth being perfectly porous, with,
combined with lightness, -affurds the steartr the greitiht
comfort. The maake of the coat is adapted for riding' tor
walking, at the same time can be worn as a frock-dog: