The Liverpool Standard and General Commercial Advertiser.
Liverpool, Merseyside, England, 1848-08-08 00:00:00

THE LIVERPOOL StANDARD.

LOCAL MEETINGS.

BIRKENHEAD COMMISSIONERS.—At the usual monthly
meeting, Mr. Richard Bryans, took the chair. The Ferry
Committee had reprimanded the captain of the Prince, for
running down the flat Jane, and reduced him to the rank
of helmsman. The committee were directed to submit a
plan respecting the charges for ferryage and for working
the ferry to th general beard. The receipts of the ferry
from the Ist to the 31st July, were reported to he—for
1847, £2686 12s. 3d. ; for 1848, £1822 2s. 7d. From the
23d April to the 31st July, in 1847, £6BBB 4s. 9d. • for
1848, £5297 18s. fid. The net expenditure for the fatter
period £4864 3s. Ild.
ST. HELEN'S CANAL AND RAILWAY.—On Tuesday,
the annual meeting of this company was held at the Cla-
rendon-rooms. .the chair was occupied by Thomas Kidd,
Esq., one of the directors in the absence of Mr. Gilbert
Greenall, M.P. The report stated that the directors had
proceeded with the alteration of the Sutton inclined plane,
but they had not gone on with the works on the Widness
Plane and the Blackrock Branch. In consequence of the
depressed state of trade, the income for the year had fallen
off £2,700, and the expenses had been diminished £9OO.
The total surplus of the canal avid railway income was
£6,180. and from this is to be deducted £5,625, for inter-
est on bonds, &c., for interest on bonds and guaranteed
dividend on preference shares, leaving a nett profit of
£355, which. added to £5,275, the balance of last account,
left a gross balance of £5,830. By the capital account,
we find that the sum of £209,173 has been expended on
the railway, £175,000 on the canal, and £30,981 on the 1
new branches. The report was unanimously adopted, and
the retiring directors were re-elected.
BIRKENHEAD DC( K COMMISSIO,NERS.—The monthly
meeting was held on Tuesday. The chairman announced
that the new dock bill would be read a third time on Fri-
day, and probably receive the royal assent next week,
The law-clerk mentioned one or two alterations which had
been made in the bill, which were, that four out of the
twelve meetings might be held in London ; that the pre-
sent commissioners were relieved from any liabilities as to
the Seacombe Mill Company, and that the clause protect-
ing Woodside Ferry was extended from the commissioners
to other owners for the time being. A conversation took
place relative to a claim for £397, made by the late resi-
dent engineer for salary and travelling expenses ; but it
was agreed to leave the matter in the hands of the com-
mittee, who were to settle the matter in the most amica-
ble way. In answer to a question put by Mr. Nicholls,
the law-clerk said there was no express disqualification in
the new bill for members of the board. Mr. Mallaby ex-
plained the course of proceeding adopted by him and the
law-clerk in London with regard to the new bill, and
also the one preceding it. They had done all they could
to have the interests of Birkenhead protected, but the bill
was more particularly the bill of the bondholders, and
there were great difficulties in the way of effecting any of
the alterations which they required, and which they con-
sidered necessary for the protection of the township. The
law-clerk confirmed what had been stated byMr. Mallaby,
and added, that he did not consider himself responsible, as
the conduct and management of the bill was assumed by
I the bondholders.

THE ROYAL INSURANCE COMPANY.—On Thursday,
the annual meeting of the proprietors of this undertaking
was held at the offices in Oldhall-street, Josias Booker,
Esq., in the chair. The report, which was read by Mr.
P. M. Dove, the manager, showed that the company had
not been materially affected by the depression during the
past year. In the fire department, the amount of pre-
miums received during the past year was £34,187 ss. 5d.,
exceeding, by upwards of £3,000, that of the preceding
year, the losses, for the same period being only
£12,726 ss. 11d. The premiums received in the year
1846 represented less than nine millions of property in-
sured, while the amount of premiums in 1847 covered
more than twelve millions. The life business was in-
creasing, the sums insured over 1847 being £71,483, ex-
ceeding the total sums insured since the establishment of
the company. There had been no death to report since
the last meeting, and only one person had died since the
formation of the company. The financial statement
showed the amount to the credit of profit and loss in 1847
to be £85,666 4s. 4d., of which it was proposed to carry
£52,636 12s. Bd. to the reserved fund, and £24,351 his. 9d.
to the re-assurance fund, to cover the risks, amounting to
about seven millions, which were then running, leaving
£8,678 standing to the account of profit and loss to meet
the dividend to be declared. The results of the business
for the six months of the present year showed that a sum
of £17,112 ss. 9d. might be added to the reserved fund as
the amount to the credit of profit and loss for that future
period of time. The number of shares issued was 86,780,
making a paid- up capital of £186,560. The report con-
cluded with a recommendation that a dividend be declared
at the rate of five per cent. on the paid-up capital, clear of
income-tax.--The Chairman, seconded by Mr. S. Holme,
moved the adoption of the report.—Mr. Tomlinson
thought a larger dividend ought to be declared, and a less
amount added to the reserved fund ; be moved, as an
amendment, that the dividend be five shillings per share,
which would be at the rate of 121 per cent.—The amend-
ment was seconded by Mr. Bighorn, and, after a long
discussion it was put to the vote and lost by a large ma-
jori y. The dividend recommended in the report was
then agreed to.—The following retiring directors were
re-elected :—Messrs. G. Armstrong, John Campbell, R.
Harbord, J. Lawrence, D. Cannon, and John Torr ;
Messrs. Titherington and Dixon were appointed auditors.—
Thanks were voted to the chairman and directors, the
managers and other officers, and, after the usual compli-
mentl to the chairman, the meeting separated.