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RAIL WAYS.

bonds and preference shares, £11,400 108.; property tax, Is the month of July there was scarcely anything to notice salaries, &c., 15915 128. 74.; hal year's rent of railway, and in this great department of joint-stock investment, with the interest on bonds, &c., £20.218 12s. 9d., leaving a balance in exception of the damaging report of the York, Newcastle, favour of the company of £8,221 103. 2d. and Berwick Railway Committee of Investigatiou against

A dividend of 35. 91. por share, free of income-tax, was Mr. Hudson-the particulars being so generally known that declared unanimously. we need not name them here. The Railway King's cooking." || holders of his cumpany was held in London on the

same day

Ceylon Railway.-The third ordinary meeting of the shareand monetary cransactions were so extensive and irregular, as to lead the shareholders, at a special general meeting held

-Wr. W. Tinall in the chair. It was resolved, in the present in the course of the same monih, at York. to direct legal state of affairs, to suspend all operations for another year. proceedings to be institut'd aguinst him for a large sum

The retiring directors irere re-elected. which, it was alleged, he had illegally appropriated. The

Cockermouth and Workinglon Railway. The half-yearly inonth of August, however, has amply coinpensated for meeting of this company took place at Cockermouth on the the dulness of July; for in this month we have had a large same day. The receipts were 1117,758, the expenditure proportion of the half-yearly meetings of the leading com

£126,963, leaving a balance against the company of £9,205. panies. We have endeavoured to place before the reader The revenue account for the half-year showed that $3,498 all the material points.

had been received, and £3,021 expended, leaving a balance North Staffordshire Railway.— The half-yearly meeting of of £170. The report was adopted, and a dividonil of 2s. Od. this Company was held at Stoke-upon-Trent, on Monday, per share, clear of income-tax, declared. August 31. The Parliamentary estimates were £2,500,000,

Kendai and Il'indermure Railway - The half-yearly meeto, and the estimates for the stations, carriages, engines, work- ing of this compariy took place at Kendal on the same day. shops, and three years' maintenance of way, amounted to The enpiral account showed that £165,163 13s. 1d. had been $190,000. The chims for minerals, and other claims for recriverd, £182,875 135, d. expended, leaving a balance of land, £150,000. The extra Parliamentary expenses amonut.

£17,722 0s. Id, against the company.

The revenne for the ed to £74,000, making the gross total for the construction half-sear ending 30th June, was 223,010, and the expenditure of the whole of the works £3,514,000. The opening of the £2 390, leaving a profit of £1,520, less interest £929; balance whole line has been effected at an expenditure of $3,400,000,

4097. The balance from the former traffic account amounted being £114,000 under the estimate given in. The estimate to £2,300, making £2,997, out of which interest on preference was £2,400,000 for making a line from Colivich and froin sbares, £*23, had to be reducted, leaving £2,173 in band, Macclesfield to Burton and Wellington, with branches to

and showing that the tra ilic does not even pay the interest on Nortou Bridge, Sandbacb, and Crowe. Out of the receipts loans and preference shares. of the Company, so far as the scheme had been yet opened

Erst Lancashire..-The half yearly meeting of the shareand worked, a dividend of 3s. per share was declared. holders of this oompany was held at Bury on the same day.

Namur and Liege Railway.--The anomal meeting of the The aggregato receipts for capital were 12.967,764 23. 5d., shareholders in this company was held in London on July

and the expenditure £2.9338,886 11s. 61., leiving a balance 29. The report stated that, from the commencement of the

of £28.877 7s. 11d. The receipts for the halfyear amounted lines in 1815, to the 30th June last, there had been expended

to £64,717 105, 84d., and the disbursemnis to *27,931 178. as follows:

|6fd., lenring a balance of profit of £36,785 15s, 2d, Construction of the lines,

£763,492 4 7.74 miles of the company's scheme are open. Rolling stock and stores,

78,247 18 9

A dividend at the rate of five per cent per annum on one. Dividend to shareholders,

48,483 3 8 quarter shares, and six per cent per annum on the preference

quarter shares was declared. The followiug resolution on

£890,573 611 cheap Sunday trains was adopteil :-" That cheap trains run North Wales Railway. - A special meeting of the share. on a Sunday, but that no sucb trains be permitted to be on holders in this unfortunate scheme was held in London, on

the line later tban ball-past 9 o'clock in the morning, nor July 31st, to receive a report from the directors. The di

carlier than 5 o'clock in the afternoon." rectors' report stated that-

Wold Railway.-09 August 2, an adjourned meeting of The total amount in their hands, according to the last returns, this company was held at the offices in Moorrate Srrect. The

£20,769 8 10 business was to forfeit 3,156 shares, the calls on which were Furniture (say)

20

Hrading, Guilford, and Roinnte Railuony.-The half.

£20,789 8 10 vearly meeting of this company was held in London on same If 32s. per share be returned on

day. The entire works of the company were completed and 11,800 shares

£18,880

rea:ly for opening. The following accounts are for the halfEstimated expenses of the last half

year : year

450--19,330 0 0

Dr.
To balance

L18,321 12 10
Leaving a balance of

£1,459 8 10
To amount received on calls

105,281 0 to meet all liabilities and future charges.

Interest on ditto

871 1 After a somewhat stormy discussion, a resolution was

Transfer fees n.

51 2 passed that this report be received, adopted, and acted upon.

.£154,724 16 5 St. Helen's Canal and Railay.--- The annual meeting of this company took place in Liverpool, on same day. The report showed an increase of £2,109 over the previous year,

By expenditure, as per detailed account £137,819 5 11
By balance at bankers

16,700 15 10 while the working expenses had been reduced L185. The revenue account showed the receipts for the half-year on

By amount of petty cash

4 14 8 the eanal and railway to be £14,901 19s. 20., and the dis

£154,524 16 5 bursements to £6,425 173. 80., leaving a balance applicable to the payment of interest on loins and dividends of The report was adopted ; and it was unanimously resolved £8,536 15, 6., and a net surplus, after payment of interest that the directors be authorised to issue debentures, under and guaranteed dividends, of £1,973 As. 4d.

The receipts the seal of the company to an amount not exceeding on capital account to 30cb Juno amount to £405,382, aud £50,000. the expenditure, £ 138,102, leaving a balance of £32,780 to Liverpool, Crosshy, and Southport Railway.-The half. be provided for.

vearly meeting of the shareholders in this company was beld 1 'The report was unanimously adopted, and a dividend of in Liverpool ou same day. The balance sheet showed that $3 per share on the old sbares, £1 105. upon the halt shares, 490,800 had been received, and 191.704 expendied. The and £3 per share upon the preference shares of 15-18 (created revenue for tbe lialf-year had been $3.0:3, and expenditure to pay the canal), in addition to the j per cent. guaranteed $1,738, leaving a balance of £1,29.) ; out of which a dividend Lo the latter, was declared.

of 2 per cent. per annuin was declared. London and Greenwich Railway.--The half-yearly ineet- Neury and Enniskillen Railway.--The half-yeıriy meeia ing of this company was held at the London station of the ing of this company was held in London on the same day, linte, on Jaly 31st.

The report stated that "the resistance which continues to The accounts showed the following items: Interest on be offered by Government to applications for aid to railways

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608

RAILWAY AND JOINT STOCK BUSINESS OF THE MONTH.

in the north of Ireland, had been the means of further pro- to the 30th June were £62,114 14s., the expenditore
tracting the construction of the Dublin and Belfast Junc. | £58,927 17s. 7d., leaving a balance of £3,188 168. 5.1.
tion line between Gorah and Portadown.” The capital ac- Chester and Holyhead Railwry.-The balf yearly meeting
count to the 30th June, showed that £97,222 bad bern of this company was beld at London on August 15. Accort.
received, and £85,981 expended, leaving a balance of £11,233 |ing to the report submitted, it appeared that the traffie re
in cash and debentures. The report was adopted, and the || ceipts on the railway from the 1st May, 1818. to the 30th
forfeiture of 1,815 shares was declared, and that, along with June, were £78,786 3s. 7d., and the expenses £51,475 105.8d.,
4,800 others forfeited at a previous meeting, they should not including £20,452 for locomotive power to the London and
be sold, or otherwise disposed of, without the sanction of a North-Western Company, leaving a profit of £27,310 12s. Ild.
general meeting.

The steam-boats from the 1st of August, 1818, to 30th Jone,
Waterford, Werford, Wicklow, and Dublin Railway-The 1849, earned £6,883 8s. 3d., during which time the ordinary
halt-yearly meeting of this company was held in Lindon on charges amounted to £19,999 53. 1d., showing a loss of
same day. Thereport stated an agreement had been authorised | £13,115 16s. 10d., which deducted from the profit

, made by
by Parliament with the Dulilin an: Kingstown Company, by the railway, leaves a net profit on traffie, exclusive of toll
which the Waterford, Wexford, Wicklow, and Dublin Com- and mails, of £14,194 16s. ld.
pany are to take a lease of that line at a rent of £34,000 The report was unanimously adopted.
per annum. The expenditure on land and works at Killiney Resolutions were then passed, without any question being
and Brayhead is £52,191. The distance from Kingstowii | asked by any shareholder, declaring a dividend of 8s. 3d. a
to Wicklow is 234 miles. The cost is estimated at $300,271; ! share on the preference shares, resiucing the number of di-
for permanent way, £100,000; stations, £2,000 ; total, rectors to 12, their future remuneration to be £1,000

o per
£420,271. Of which, expended £52,102 ; in hand, £13,329: annum, and re-electing Mr. P. Hanbury, auditor.
leaving to be provided for, 4354,749. The outlay for the Great Western Railway. The twenty-eighth balf-yearly
next twelve months is £70,456. The receipts to the Ist

meeting of this company was held at the Bristol Station, og
July are £144,167, and expenditure £130,837. The report, August 16th. The report submitted was the least satisfae-
after a warm discussion and a division, was agreed to.
East Lincolnshire Railway.--The bálf-yearly meeting of trong, as it regards profits, ever presented to the proprietors.

The general statement of account showed the total receipts
this company was held in London, on August the 10th. for capital to have been £11,914,013 9s. 9d., and the total
The report of the directors congratulated the shareholders expenditure £11,867,042 16s. vid., leaving a balance of
on their baving received last month the first full half-year's £46,970 12s. 10d. The traffie receipts for the half-year
dividend of the rent. The accounts, to the 30th June, showed || had been £480,233 1ls. 2d., and the net expenditure
that £616,045 163. 7d. had been received and expendel, £199,691 199. 41., leaving in hand £280,233 11. 2d. Out
leaving a balance due to the bankers of £2,659 7s. 100. of tbis the dividend proposed was at the rate of 4 per cedi
The report was unanimously adopted.

per annum, or 2 per cent for the half-year, leaving a baGreat Northern Railway:--The sixth half-yearly meetiog | lance of £18,000, and the directors state that instead of 4 of this company was held in London on August 11th per cent., the dividend would have been 5 per cent, but the From the report submitted, and the sheet of accounts, it revenue is charged with interest on a large amount of capappears that i he receipts for capital to 30th June last, arc tal invested in lines abandoned or not in progress, and on £4,853,061, the expenditure £4,492,711, the balance capital subscribed to other companies unable to pay interest £300,350. The expenditure during the half year has been or dividend. £861,812. Of this sum £157,816 has gone in land and The report, after some discussion, was unanimonsly compensation, about £460,000 for works and materials, adopted, and a resolution declaring a dividend at the pro£40,102 for engines and tenders, £18,995 carrying stock, posed rate carried. £32,000 advance to the East Lincolnshire to complete their works, and £68,593 in interest to shareholders and lenders ;

London and North-Western Railway.— The half-yearly for law, with engineering expenses, £13,615. The revenue

meeting of this great company took place at the Easter account froin the 1st March, 1848, to June 30th, 1819, shows

Square Station, London, on August 17.' There was a very £61,682—receipts and expenditure, £31,233 ; leaving a pro

full attendance of proprietors. fit of £30,449, less £20,760 belonging to the 6 per cent

From the report submitted, it appears that there is about guaranteed rent of the East Lincoloshire, leaving £3,689.

164 millions of share capital paid up, £167,000 in coarse of The report proposed that the 19,000 extension shares, and

payment, and 5 millions to be called up. Taere is also 6,000 forfeited shares in the hands of the directors should

paid in advance £203,052, and debentures to the extent of be allocated as follows:-To give to the registered pro- || been expended except £26,347.

£9,778,470, giving a total of 264 millions. Of this all has prietors of this date, who have paid all calls on their shares, the option of taking these 25,000 five per cent. preference and from goods. after paying agents' expeuses. £385,021.

Tbe revenue receipts from passengers have been £647,911, shares , of kI2 10s. each, upon the payment of £ 10 ius. per making, with a few other items, a-gross receipt

of £1,063,5+. share. The first instalment on account thereof, amounting to £5 10s., to be paid on or before 10th September next ; a

The working expenses appear to be £366,548, the rates, further payment of £2 10s. per share to be made on or before

taxes, and passenger duty, £31,369, the interest oa los 31st Ociober, and a final payment of £2 10s. per share to

£111,882, which, with a loss of £7,722 on the North Us be made on or before 31st December. The report, after a

Railway, £1,000 for the Scotish Central, and soine similar long and animated discussion, in the course of which an

items, leave £517,191 profit applicable to dividend. The amendment for the immediate completion of the extension

sum of £7,525 is set aside for renewal of rails, &e, learing to York was negatived, was adopted, and resolutions in

4509,669.

A balance of £71,494 exists from the previous balf-year's pursuance thereof carried.

Hull and Selby Railway—The half-yearly meeting of the accounts, which, added to the preceding would make the shareholders of this company was beld at Hall saine day || available balance £581,163. A dividend of 34 per cert. leares The sum of £29,014 138. 4d. was available for the payment

£15,502 to be carried to the credit of next account Tire of a dividend, out of wbich the directors recommended that

amount, therefore, taken from the balance of last buif reu a dividend of £2 9s. 6d. per share on the £50 shares, and

towards dividend is $55,992. The dividend of 3) per cent £1 4s. 9. on the £25 shares, being at the rate of £9 18s.

declared. per cent., less income-lax, should be paid.

South-Western Railway Company.--The half-yearly Boston, Stamford, and Birmingham Railway.--The half- of this company was held in London, on August 15th. Accord yearly meeting of this company took place in London, to the report submitted, the company have received, during August 10. The report stated that the resolution passed half-year, upon capital account and by loans, £304,135 at ibe extraordinary meeting in May, accepting the offer of the total received up to 30th June last, £8,043,233 by calls the Great Northern of 6 per cent upon half the capital, | by loans. The expenditure on capital account, during the giving in exchange an equal value in shares of the Roystod year, is £383,570---making a total expenditure, to Suk Jant and Hitchin Company, had been confirmed at an extraordinary meeting of the Great Northern Company. The direc- of £7,874,258; leaving a balance of unexpended money of £173, Lors made a call of 42 4s. per share, a large portion of which The revenne, or receipts from traffic, amount to Das been received. This will so far equalize the values of the expenses £126,752, leaving £132,047, which is sizines Boston, Stamford, and Birmingham, and the Royston and charges for interest, dividends on preference shares, &c. Hitchin shares, that five of the former having £7 4s. eaching to £47,144. This sum, however, is lesseued ly s ro aid up, or £36, will be exchangeable for eight of the

latter, | £3,312 for interest of balances lent out, and interese on pon which £4 10s. has been called, or £36; and the baence, a sum equal to £2 16s. on each Boston and Birming

of calls received during the half-year ; leaving LAS,533 am share, or £1 155. on each Royston and Hitchin share,

taken from the balance of £132,047. The balance for do ill shortly be called for, thus insuring 6 per cent. upon £10 is £88,215, increased to $104,407 by £6,881 for interes er share to the proprietors of this company. The receipts || outstanding to the extent of £316,529, and 29,311 far

4

4

9

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amounts:

5

3

8

4

citarged to works in progress, at the rate of 4) per cent. per ( From the report we take the following statements of the revenue annum on £413,847. These additions, and £1,232 balance of and capital accounts for the half-year ending 31st July last ;--last account, make applicable for dividend £105,660. The total

REVENUE ACCOUNT. share capital is £6,521,368. The dividend proposed is at the Receipts froin passengers, £23,981 7 rate of 3% per cent.

Goods and Minerals, 10, 150 9 1 The whole capital of the company is now stated to be in Parcels, mails, &c.,

2,779 receipt of dividend; and there will be no further addition to

-£69,211 0 capital, unless new and additional lines are made. The report, Hall of Joint-Line receipts

3,576 1 1 after an animated discussion, was adopted; and the dividend, in pursuance thereof, declared.

Total Revenue

£72,787 7 10 Great North of England Railway.—The meeting of this com- Showing an increase over the corresponding period of last , pany was held at Darlington, on August 20th. The only business year, transacted was the declaration of 10 per cent., in agreement with In the passenger receipts, of

£1,141 16 the arrangement with the York, Newcastle, and Berwick Rail- Goods, minerals, &c.

16,857 3 10 way Company. York, Newcastle, and Berwick Railway.-- The half yearly

Total increase in six months $17,999 0 2 meeting of the proprietors of this line of railway was held at The report says: York, on August 23d. - Mr. Robert Davies, the deputy chairman, “The revenue account has been charged with the whole inpresided. It was afterwards made sp cial, and extraordinary, in terest on unproductive capital. Au additional sum of £1,200 pursuance of a requisition, sigued by 3,010 shareholders, for has been set aside to meet unsettleil claims for parochial assessreceiving and considering a report of the committee of investiga- | ments; and the second instalment of £1,000 hias been paid totion, and vesting in them power and authority to prosecute such wards the cost of re-laying the line between Irvine and Kilwinning legal proceedings as might be deemed expedient, and taking such with heavier rails. The directors have also deemed it right, on other steps as might be determined upou for the interests of the this occasion, to take out of revenue the sum of £3,011 os., for company.

the purpose of adding to the Depreciation Fund. From the report submitted, it appeared that the receipts for After the fore going deductions are made, there is a balance the half-year ending June, were £335,333 14s. H.; and the es- of £10,574 9s. 11d. applicable to a dividend. Of this balance, penditure £159,91325. 32 , leaving a net profit of £137,642 3x. 1d., the preferable stocks of the company will absorb the following subject to a deduction of £64,262 ts. 6d. for half-a-year's reut of the Great North of England Railway, due on the 1st of July Guaranteed Stock at 5 per cent.

£3,906 0 kast; leaving £73,379 183. 7d. net revenue--more than suti. L.Shares, 1. Issue.- per cent on Calls 12,177 10 8 cient to pay a dividend at the rate of 3} per cent.per anmm (less

L25 Shares, II. Issue.---5 per cent. on Calls 7,091 6 property tax) upon the sum of £1,262,565, the capital entitled to Preference LIO Shares --created dividend.

for completing the Dumfries

6 per cent. 7,239 11 The report having been received, a resolution to the following line being capital at present effect, after some discussion, was agreed to :- That as a tempo- unproductive. rary measure, and with a view to the adoption of legal proceed. ings, they request four of the present directors to retire, and that

£31,017 13

7 the Lord Mayor of York, Mr. V'Laren, Mr. Leechman, Mr.

Leaving a balance of

9,556 16 Love, and Mr. Kiplin, members of that committee, be elected directors, in conjunction with Mr. Plews and Mr. Wood, two of

£40,574 911 the present directors; an entirely newly-constituted permanent

** This balance did not allow a dividend on the Consolidated board to be formed on the 4th of October next. The question of Stock, and was carried to the credit of the current half-year.” a dividend was postponed till the meeting on October 4.

Londonderry and Enniskillen Railway.---The half-yearly meetAt the extraordinary meeting, at which the report of the Com- | ing of this company was held in London on August 24. The mittee of Investigation was adopted in its entire form, it was capital account showed the receipts to have been £186,695, and also announced that proceedings had been taken for filing a bill the expenditure, £185,738. The revenue account for the halfin Chancery to recover the differences due to the company on Mr. year stated that L 1,53:3 had been received, and £2,130 expended, Hudson's personal share transactions. That gentleinan had made leaving in hand £2,097. It was recommended that 5 per cent. an offer of compromise; but it was of a nature which the autho- per annum be paid on the half-shares, for the half-year ending rities of the company did not feel justified in accepting. The 31st July. The report was agreed to. meeting was adjourned till October 4.

The foregoing alsstract contains all the material and important Leds ani Bradford Railway.-On August 23, the share- railway business of the mouth. There have been several other holders of this company held their half-yearly meeting in Leeds meelings of railway companies, but they were of a routine cha-Mr. John Waddingham in the chair.

racter, and presented no features of special interest except to The expenditure to the 21st December, 1918,

those immediately concerned. The following is an enumeration of £1,270,230 3s. Id.; since, £100,562 8s. 5d.; total to the present these, with their dates, and the places at which they were held :time, £1,376,812 Ils. 6d. The receipts had been, prior to Birkenhead, Lancashire, and Cheshire Railway, held at Liverthe 31st December last, £1,273,381 8s. Ild; since received, 1. pool on August 11; the Dutch Rhenish Railway, at Liverpool, £128,316 17s. 8d., making the total £1,384,2.8 6s. Td. The on the Ilth; the Oldhamn Alliance Railway, at Oldham, on the statement of accounts, on the motion of the chairman, was ap- 13th ; Cameron's Colebrook Railway, at London, on the 13th; the proved and adopted. A resolution was moved, declaring a divi. Whitehaven Junction Railway, at Whitehaven, on the 16th ; the dend for the half-year ending June 30, 1949, of £? 10s. per £50 | Vale of Neath Railway, at Bristol, on the 16th ; the Northampton share, less income tax. The resolution was unanimously and Banbury Railway, at London, on the 17th ; the Buckinghamagreed to.

|| shire Railway, at London, on the 17th; the 'Taff Vale Railway, at Glasgow, Dumfries, and Carlisle Railway.—The half-yearly Bristol, on the 17th ; the Swansea Valley Railway, at Swansea, meeting of this company was held at Glasgow on August 23d,

on the 19th; the Wharfdale Railway, at Leeds, on the 21st ; the for the purpose of receiving the directors' report, and to consider Ambergate, Vottingham, and Boston Railway, on the 22d; the the propriety of reducing the number of directors from 15 to 10. Llynvi Valley, at London, on the 23d; the Clarence and The report stated that the works were progressing satisfactorily. Hartlepool Railway, at Hartlepool, on the 23d; the Portbury The accounts to the 31st of July show that £805,284 had been Pier and Railway, at Bristol, on the 23d; the Wear Valley, at received, of which £716,439 was expended in the construction Darlington, on the 24th; and the Middlesborough and Redcar of the line, L67,487 lent to the Ayr Coinpany, and £21,355, in- Railway, at Darlington, on the 27th. vested in shares, leaving a debit of £9,488. The report was A part of the Cork and Baudon, also the Manchester and adopted, and a resolution approving of the payment of dividend | Huddersfield, the Kelso and Berwick branch of the North British, on interest was approved of. It was also agreed to reduce the and the North Kent, Railways have been opened since our last." huraber of directors to 10.

The prices of railway shares have fluctuated little of late. Glasgou, Kilmarnock, and Ayr Railway.—The half-yearly | Until the half-yearly meetings are over, and the dividends are meeting of this company was held at Glasgow on August 23d. || declared, little will be done the way of bargains, and prices

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will not assume their natural level. They have varied so little || year, which would have created elaims to the amount of £13,000 since our last, as to render the table of fluctuations, usually ap- or £14,000, exclusive of the bonus additious. This very favourable : pended, unnecessary the present month. By the end of next feature in the company's experience, which has been observable month the dividends will have ruled the rates for a time, when from its commencement, cannot fail to exercise a most beneficial the changes that may be occasioned by the half-yearly meetings | effect as regards the result of the quinquennial valuations, tending will become apparent.

as it does so materially to inurease the surplus to be divided on those orcasions. After payment of every charge, and making a

reserve for every outstanding-claim upon the association, the INSURANCE COMPANIES, BANKS, &c.

directors have been enabled to carry the sum of £6,382 2s, to the There have been several meetings of insurance companies since credit of the assurance fund, which now amounts to £65,190 14s. 8d., our last notice. In July, the Mutual Life Assurance Company held an accumulation, the directors have reason to believe, inits half-yearly meeting, in the London l'avern--Mr.W.C. Harnett dicative of considerable success, and of the exercise of great in the chair. The business was for the re-election of four directo economy throughout the course of the society's operations. The ors, who go out by rotation : and for the election of one director amount of premiums received on policies which have terminated in the place of Sir Charles Douglas, who had resigned; and also during the year is £2,015 3s. 6d.; and, derlucting this sum from for the election of an auditor. Mr. Hardy, the actuary, read a the amount paid on account of claims, it will be seen that no statement of the receipts and disbursements to the 30th of June more than £5,028 8s. 4d. has really been taken from the funds last. The receipts, it appeared, amounted to £24,177 8s. 21., of accumulated to meet the future liabilities of the company. which £1,464 58. 2d. had been received as premiums upon eighty The following is a statement of the liabilities and assets of the new assurances, and £12,603 14. 10d. for premiums upon other company up to the 30th of June in the present year :assurances. On the other side the account was balanced, leaving

Dr. £2,853 6s. 3d. to the credit of the society, by the ordinary dis- Valne of sums assured

£176,900 13 S bmrsements and other chargrs, among which were £6,550, the Paid-up capital

16,800 0 0 amount paid upon nine policies by death, £1,555 additions there- Assurance Fund

63,400 14 8 10, and £535 for policies surrendered. In the report submitted, Annuity Fund

2:2,175 li 5 the directors said they were happy to have it in their power to Building Fund

8,220.00 report that the progress of the society during the past half-year Stretton Friendly Society

1,143 15 4 has been satisfactory; and they donbt not ihnt, when it becomes Interest due to proprietors

430 15.0 generally known that all differences of opinion in the society Assurance claims...

4,4,5 18 11 have been settled, it will becoine still more apparent. The report was unanimously adopted. Four directors were then re

£293,152 150 elected, viz:-Sir Andrew Green, Mr. Burchell, Mr. Godson, M.P., and Mr. Clayton; and Mr. Coles was elected to the va- Value of premiums

£158,146 10 11 cancy occasioned by the resignation of Sir Charles Douglas, M.P.; Government securities

32,885 16 4 and Mr. Hooper was elected one of the auditors.

Mortgages

29,323 0 10 Legal and Commercial Insurance Company.--A meeting of the

Revisions

11,457 128 shareholders of this company was recently held, at which the Honse in Lothbury

13,100 0 following statement of its affairs was submitted :--Up to the 31st Railway Debentures

10,763 14.0 of December, 1819, and extending over a period of three years, Value of re-assurances

4,776 17 10 the receipts (exclusive of subscribed capital, £13,817, and a loan Balance at bankers'

0,056 8 9 of £4,000) were as follow :--Life preminms, £8,685 16s, 5d. ; Premiums due

735 90 for purchase of annuities, £5733 5s. ; interest, £1,422 ] Ss. 7d. ; Sundry accounts

709 6 8 and guarantee fund, £385 155. Sd.; making a total of €11,067 lös. &d. That the disbursements were (esclusive of advances

£295,45150, ontstanding on loans, £15,158 16s.) For preliminary purposes, The report was unanimously adopted. £3,273 3s. 30.; management, £5,552 3s. 5d.; claims, L2,219; The Reliance Assurance Company. The ordinary hali-rearly interest paid and due, £:270 138.; duc for salaries, &r., £380 Os. ld.; meeting of this company was held in London on the Sist nit.annuities paid, £41 58.; making a total of £11,766 6s. 9d., || Mr. T. II. Prinsep in the chair. The report stated that the and showing a sum of £698 lls ld. to the loss of the society ; / six months had passed without a single casualty, althougdi, apon to this is to be added £1:22 175., the difference between the loan the ordinary calculation of risk, chims might have been antici and capital advanced, and the investments and caslı balance. pated in the half-year exceeding £1,200; a sum in excess of which,

Caledonian Insurance Company.--The ordinary annual meeting however, still remains unnppropriated out of the fund reserved of the proprietors of this company was held in Edinburgh in the tor adverse fluctuation of life, at the first division of prokts. course of July - Mr. John Morton in the chair. The manager “ The premium receipts for the period under review amouat having read a report on the state of the business during the past to £3,985, of which the new business contributes £1,016 in respect year, the chairman congratulated the meeting on the increase of of sixty-three policies esseeted since the commencement of the the company's business in both departments, notwithstanding the year. In the same period nineteen proposals for sunis amounting commercial convulsions which had so much depressed the trade in the aggregate to £16,100 have been declined, or not proccued of the country generally. He particularly noticed with satisfac- with on the terms required by the society. . tion the increase in the life department, as an evidence of an “The general assurance fund of the Reliance stoord, on the esteem in which the proprietary companies, when carefully con- 30th of June at £25,800, of which amonni £16,000 is investeds ducted, and under liberal management, were held; and, alluding to five per cent., besides what the society holds in Consois, is ila the septonnial investigation, which takes place next year, ex. banking balances and usual office outlays. pressed his confident hope of a satisfactory result

The expenses of the society for the present half-year amount having been approved of, a dividend of ten per cent., free of to £914.. income-tas, from the profits of the fire department, was declared The report further said :--payable on the first of August next.

"In a young otice, the ratio of charges is of necessis high, 11fred Life Assurance Association. The annual meeting of but every extension of business improves the condition of the this company was held in London on August 1st-Sir D. Scott, establishment in this respect ; and it cannot fail to be apparent Bart., in the chair. From the report, it appears that the income to the conviction of members, that, in proportion as they conin of the association for the rear is £22,9:23 4s. 2d., while the es- bute to promote that extension, the profita in which they penses remain nearly stationary, those immediately connected ticipate will be increased with the office being somewhat less than they were the previous Whilst, however, pressing this important consideration aum Vear. The premiums on the policies effected since the last re- the notice of all parties interested in the welfare of the man port amonnt to £2,029 2s. 9d; the clains to £7,043 lls. 10d., / ciety, it is a subject of no slight gratification to your directors to which sum includes £102 7s. 10d. by way of bonus to the sums be enabled to show at so early a period of the society's establishassured. The claims are still extremely moderate; they result ment, and after the liberal bonus allocated at the first division of from the decease of seven of the lives assured, whereas, eleven or profits

, a balnnce of improved premium receipts prer espeadi. twelve deaths might reasonably have been expected during the ture for the last half-year, amounting to £2,823,"

14

The report

The average age of parties assured with this society is now had recently extended the business to the contineut, and had forty years upon whole-life policies, and furty-five years upon made arrangements for assuring diseased lives. oolicies for limited periods. Under the supposition that all the Railway PassengersAssurance Society. -'The new system of assured were to take ont now policies from the first of July, the life assurance, in the event of railway accident, is pov in operadifference of preiniums from increased age, according to the office tion on the London and Vorth-Western, wd Lancashire and tables, would be considerably less than the amount of interests Yorkshire, Lancaster and Carlisle, the Caledonian, Vortlı Britisli, How vielded by the invested funds of the society. This test af-|| Edinburgh and Glasgow, Chester and Ilolyhead, E:estern Counties, fords clear evidence of a prosperous condition.

Cochermonth and Workington, and the Stockton and Hartlepool The report was unaninously adopted by the meeting.

Railways. The assurance tickets for the single journey are obtamed Catholit, law, and General Life Assurance Company, On at the same time that the passenger paws his fare. The first-class, July 26th, the annnal meeting of this company was held in I paying 3d., insures 11,000; the second-c1us, paying 4., £300; London-- Bishop Morris in the chair. The report submitted and the third-elass passenger, paving ld., 1700. These constitute way very favourable. Not a policy had clapsed during the year, all the material information which is available at the timo wa and there had been wo falling-off in assurers. The directors' write,

OBITUARY NOTICES FOR AUGUST.

MEHEMET ALI.

orders of Kloorshid Pasha, for some reasou or other, took no At Alexandria, on the 20 August, his Highness Mehemet Ali, active part. For this, the Turkish General, irritated at his dc. Paslia of Egypt, in the 80th year of his age. On the day follow-feat, complained to Khosrew, the then Viceroy of Egypt. The ing that of his death, his body was taken to Cairo, where, on latter summoned Mehemet Ali to his presence ; but he refused to the 4th, it was interred in the new alabaster mosque built by attend, and took advantage of an insurrection, which opportunely himself

. The concourse of people at his funeral was iminense, occurred among the Albanian troops, to join the Mamelukes, and the ceremony was attended by all the European Consuls, as under Osman Barlissy. In 1803, he attacked Khosrew at Da. well as by many of the European residents. This extraordinary mietta, and carried him prisoner to Cairo. The Sultan then sent man was born in the town of Cavalli, in Roumelia, the ancient Ali Gezairli Paslat to Egypt, as successor to Khosrew Pasha ; Macedonia. He used to boast that his birth took place in 1769, but soon after his arrival he was put to death by the Mamelukes. the same year that the Emperor Napoleon, and the Duke of In 1804, the Mameluke army, under Osman Bardissy, became Wellington, first saw the light. He commenced life in the clamorous for its arrears of pay, and an insurrectiou eusued, humble capacity of a tobacconist in his native town; and he which was clandestinely fostered by Mehemet Ali, who had gained raised brimself entirely by his own talents and energy to the stil- a strong ascendancy over the minds of the troops, and was playtion which he eventually occupied, of chief ruler of Egypt. Iing that deep and politie part which ultimately raised him to Having volunteered into the army, he soon obtained liigh favour the l'ashalic of Lgypt. The Bey's house was attacked by the with the Governor of Cavalla, by his efficient assistance in quel | infuriated soldiers, and he himself forced to escape from Cairo. ling a rebellion, and dispersing a band of pirates. On the death But not thinking his time yet come, Mehemet Ali sent Khosrew of his commanding officer, he was appointed to succeed him, and Pasha, his prisoner, to Constantinople, where he subsequently married his widow.

was several times Prime Minister of the Sublime Porte, and apIn 1799 he was appointed by the Governor of Cavalla second || pointed Khoorslid l'asha, then Governor of Alexandria, Viceroy in command of the contingent of 300 men, furnished by that of Egypt. On his deposition, after a new insurrection, caused town to the Turkish army, ordered by the Sultan against the by the non-payment of the arrears, the inhabitants of Cairo adFrench, to expel these foreign invaders from Egypt. Shortly dressed themselves to Mehemet Ali, now all-powerful with the after landing at Aboukir, the son of the Governor, who was at soldiery, and made him their Viceroy. Mehemet Ali secured t!rc head of the Cavalla force, returned to Roumelia, and left his position by satisfyiug the demands of the army, which he was Mchemet Ali in command. Io all the engagements with the enabled to do by levying contributions on the inhabitants of French, the future ruler of Egypt distinguished himself by his Cairo, who cheerfully paid them, to avoid farther disturbances. conduct and valour.

He was installed in the Paslalic of Ezypt, then called the After the evacuation of Egypt by the French, in 1801, Mo- Pashalic of Cairo, in 1506, on condition that he should send to hammed Khosrew was appointed by the Sultan, Viceroy of Egypt. || the Sultan 4,000 purses, equal to about £24,000 sterling. llis At that time the Mainelukes were actively engaged in endeavouring | Pashalic extended only to Middle Ezypt and the Delta; Upper to recover their ascendancy, which had been overthrown by the Ezypt being divided into several districts, administered by the French. Previous to the French invasion --indeed, from the Mameluke Beys; and Alexandria, with a part of the Western middle of the last century--the number and wealth of the Mame- Province, being governed by a Pasha independent of the Pasha lukes gave them such a superiority over the 'Turks in Egypt, that of Cairo. A few months after his installation, the Sultan conthe Turkish Pasha, appointed by the Sultan, was obliged to con. sented to give him also the l'ashalic of Alexandria, as a reward fornt entirely to their wishes. The Mamelukes, who were found for the services he had rendered the Ottoman Empire in 1807, in all parts of Egypt, were estimated at 12,000 men. They re- on the occasion of the evacuation of Lower Egypt, and the city cruited their numbers chiefly by slaves brought to Cairo from of Alexandria, its capital, by the English. the regions lying between the Black Sea and the Caspian Sea. One of the most memorable events of his early rule in Erypt These slaves were compelled to become Mohamedans, and were was the destruction of his old allies, the Mamelukes, which all trained as soldiers. After a time they obtained a share in took place on the 1st of March, 1811. On that day, these for. the Government, and some of them even became beys of pro- | midable chiefs were invited in a body to the citudel at Cairo, to vinces for none but Mamelukes were capable of holding this attend at the investiture of the Viceroy's son, Tousson, as chick office. They formed a five body of cavalry, and, under their beys, of an expedition which had been ordered by the Porte against especially Murad Bey, they attacked, with the greatest fury, the the Wahabees. When the ceremony was over, the Mamclukes French when they landed in Egypt under Bonaparte. Their mounted their horses ; but on reaching the citudel gates they mode of fighting was peculiar, and against Turkish troops was found thein closed, and a sudden discharge of musketry from frequently successful; but with the French they had a different soldiers placed on the walls completely annihilated them. In fve to contend with. Unable to withstand the European artil- the provinces, a great many of their number were put to death fery, tliey were forced to yield, when many of them joined the at the same time. It has been computed that 470, with their

chief, Ibrahim Bey, perished in the citadel ; and in the city, and After the expulsion of the French from Egypt, the two prin- | throughout the country, no less than 1,200 were killed. The cipal Mameluke beys, Osman Bardissy, and Mohammed Elfoy, de- power of the Mamelukes, a brave and restless body, who had Teated the Turkish army in a pitched battle. In this affair, kept Egypt in a state of anarchy and warfare ever since the year Mehemet Ali, who, with his troop of Albanians, was under the 1382, was thus fiually and effectually put an end to.

French army:

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