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No. 485. Jclv 9. 1859.1 THE LEADER, 825
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PBICES OF THE PRINCIPAL STOCKS AND SHARE...
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Last This "Week "Week STOCKS. 3 per cent...
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BANK OF ENGLAND. An Account, pursuant to...
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per cent. Mr. Hesleden, the late preside...
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JOINT STOCK COMPANIES.
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The Twenty-seventh Quarterly General Mee...
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NORWICH UNION LIFE OFFICE. Ok "Wednesday...
Note: This text has been automatically extracted via Optical Character Recognition (OCR) software. The text has not been manually corrected and should not be relied on to be an accurate representation of the item.
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Transcript
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Note: This text has been automatically extracted via Optical Character Recognition (OCR) software. The text has not been manually corrected and should not be relied on to be an accurate representation of the item.
Additionally, when viewing full transcripts, extracted text may not be in the same order as the original document.
This Fine Weather Makes A Dull Corn Mark...
reports that the flax crop will be a failure ; the large imports of flax in the month of May may have taken place in contemplation of the deficiency , and will help to make it less injurious to the linen manufactures . ¦ . . Trade in the first week of July promises well . May we say at the end of the month it has done well .
No. 485. Jclv 9. 1859.1 The Leader, 825
No . 485 . Jclv 9 . 1859 . 1 THE LEADER , 825
Pbices Of The Principal Stocks And Share...
PBICES OF THE PRINCIPAL STOCKS AND SHARES AT THE CLOSE OF THE MARKET .
Last This "Week "Week Stocks. 3 Per Cent...
Last This "Week "Week STOCKS . 3 per cent . Consols—Money • - Ditto Keduced Wi 941 Ditto New , m ¦ « f BankStock •••¦• 2 ao ^ xl India •• ' Exchequer Bills 24 p Z 7 Canada Government 6 per cent . • • • • New Brunswick Government 6 per cent New South Wales Government 5 per cent . South Australia Government 6 per cent .. ... Victoria Government 0 per cent , . ¦ Austrian Bonds , 5 per cent ..... .. .. Brazilian Bonds , 5 per cent .. French Rentes , 3 per cent Mexican Bonds , 3 per cent .. Peruvian Bonds , 4 £ per cent Spanish Bonds , 3 per cent .. .. Turkish Scrip , 6 per cent . .. KAIL WAYS . Bristol and Exeter .. Of 95 Caledonian ; .. 80 80 Eastern Counties 06 3 51 g East Lancashire 89 * 92 } Great Northern 100 J . 101 „ Western ... ; .... 55 | 56 "Lancashire and Yorkshire 93 | 93 J JLoridon and Blackwall .... 63 65 London , Brighton , and South Coast ....... 113 112 London and North-Western ... 92 * 92 f London and South-Western 92 + 93 ; ¦ Midland 99 f 100 } NorthBritish . 55 55 + North Staffordshire 13 J 13 | Oxford , Worcester , and Wolverhampton .. 3 a 32 South-Eastern .... 68 $ 694 South Wales ...... 01 61 Bombay , Baroda and Central India .... ... 17 17 Calcutta and South Eastern id par Eastern Bengal lid lj | d Eastlndian .. . ' . 101 102 Great Indian 1 ' eninsula 97 J ¦ 98 £ Madras .. 92 Scinde 20 1 DJ Buffalo and Lake Huron f > i 5 Grand Trunk of Canada 34 $ 36 Great Western of Canada .:.... 14 f 15 f Antwerp and Rotterdam 4 4 Dutch Khenish f > id Oid Eastern of France 2 ih 25 Great Luxemburg 6 * 5 b Lombardo-Venetian 7 * id Northern of France ,.. 1 37 * 37 * Paris , Lyoi » 8 , and Mediterranean 33 $ 34 . Paris and Orleans 50 51 Southern of France 19 J 10 J * Western and North-Western of France .. 21 ' Z \
Bank Of England. An Account, Pursuant To...
BANK OF ENGLAND . An Account , pursuant to tho Act 7 th and 8 th Victoria cnp . 32 , for tho weekending' on Wednesday , the Oth day of July , 1839 : — ISSUE DEPARTMENT . Notes issued £ 81 , 017 , 870 Government Debt £ 11 , 015 . 100 Other Securities .. 3 , 459 , 1 ) 00 Gold Coin ABullion . 17 , 472 , 870 Silver Bullion .... £ 31 , 047 , 870 £ 31 , 047 , 870 HANKING DEPARTMENT . JL ' ropri # tors' Capi- Govummont Sccutal £ 14 , 053 , 000 rltloa ( including Host 3 , 220 , 508 Dead Weight Public Popoai ( s ( ln- Annuity ) £ 11 , 780 , 035 eluding Exoho- Other Securities .. 18 , G 8 !? , 505 quup . Savings' Notes 10 , 472 , 000 . Banks , Commit * - Gold and Silver Bionors of N ^ i- Coin 015 , 005 tipnal Debt , nnd ., ¦ Dlvldond Accounts ) ,... O , 43 O , 0 fifl Othur Deposits ..,. 13 , 031 , 531 Svvon Day and othor Bills ...... 7 W . 830 £ 41 , 501 , 855 £ H , 501 , ii 55 ^ T M . MARSHALL , Chief Cannier . Dated July 7 . 1850 .
Per Cent. Mr. Hesleden, The Late Preside...
per cent . Mr . Hesleden , the late president , inquired as to the present position of the company with the Cologne and Minden Railway Company , and was answered with an assurance that everything tended to the speedy establishment of a good understanding between the tvro companies , and that the coal traffic ha ? now commenced at a freight not exceeding that charged by the boat conveyance . Mr . Faber Van Riemsdyk was elected chairman of the shareholders' meeting for the ensuing year , and the retiring directors and commissaries were reelected , with the addition of Mr . Ernest Chaplin , in the room of Mr . M , Uzielli . The feordial thanks of the meeting were voted to the commissaries , as also to Mr . Ameshoff and the directors . At the meeting of the Railway Companies Association on Thursday the Chairman said , in carrying out the resolutions of the last meeting , he had written letters to the chairmen of the London , Brighton and South Coast and the Iidndon and South-Western Railway Companies , enclosing , a copy of the resolution passed by the association respecting an offer to undertake the settlement of the matters in dispute . The answer from the Brighton Company stated that they were willing to submit everything in dispute to arbitration ; but the South-Western gave reasons why they declined to do so . The reasons were that certain arrangements had been entered into with other parties which they thought could not be submitted to arbitration . Resolutions were passed by the meeting expressing regret at the refusal of the mediation of-the Association . The half-yearly meeting of the Nokth Staffordshire Railway Company is called for the 29 th inst ., at Stoke-upon-Trent .
< RAILWAY jNTELLIGBNOE .
The annual meeting of the Dutoh-Rhknisii Railway Company was hold at Amsterdam on the 30 th ult . The English dharoholdera were represented by Messrs . Thomas Edwards Moss , William A . Chaplin , Ernout Chaplin and H . O . Beloo . Tho report and account s having been adopted , n dividend of 4 s . 3 d . per share wRg declared , making with tho previous one lls . per sliivro , or a * . 13 a . 2 d , par cent , on the share capital of 15 * ., which shows a considerable increase over tho preceding year , in which tho net divisible income was 27 , 1767 . u « compared with 54 , 209 * . distributed during tho present year . The increase is > consequently , from 21 . to 3 / . li >» .
Joint Stock Companies.
JOINT STOCK COMPANIES .
The Twenty-Seventh Quarterly General Mee...
The Twenty-seventh Quarterly General Meeting of the Conservative Land Society , was held at the offices , 33 , Norfolk-street , Strand , on the 5 th inst . ; Viscount Ranelagh in the chair . The report showed for the quarter an issue of 190 shares—receipts , £ 10 , 035 3 s . 6 d ., making a total of 14 , 797 shares and £ 390 , 850 . 3 s . 4 d . receipts . The total sale of land amounted to , £ . , 830 . The Society still continues
to qualify , -iiiy eleven counties , persons desirous of obtaining thefreehold franchise , and to afford them at the same time the security of aland investment . The executive committee havd under consideration the allotment of the Roehampton Park estate through the Register of Rights . The noble chairman , after an address explanatory of the report , moved its adoption , which was unanimously agreed to , as was a vote of thanks to the executive committee .
one . It does not , however touch the question of assurance at all—no man can be said to have assured his life because he has a chance of receiving a siim of money at the death of somebody else—or because his family have a chance of receiving a sum of he be himself carried off before a year has expired . The great principle of assurance is absolute certainty ; and the present scheme , something between a tontine and a lottery , cannot be , strictly speaking , called assurance . At the same time it does give a
chance , and as the chance seems a fair one , we see no reason why it should not succeed . Probably many objections may be raised through mistaking the character of the under taking-r-the young will say this is an institution for the very aged , who are inclined to run their lives one against the other—a ghastly amusement at the best ; but then there are the second chances in which the young have as good a position as the old , and so long as men are willing to stake a small sum to secure a large one , so long such a plan as this will have many charms .
The half yearly meeting of the New Bbunswi ? k and Canada Eailwat and Land Company was held on Thursday . The report stated that the attempt made to raise the additional capital required to complete the works , had not been responded to by the shareholders , and the directors urged them at once to come forward in order to prevent further loss to the company . The accounts showed the total payments hitherto to amount to 197 , 572 10 s . Id . The annual meeting of the Australian Achricui , turax Company is called for the 21 st instant when a division of 15 s per share will be
recommended . An assurance company , calling itself " . The Public Like Assurance Company" has lately started , with a very novel style of assuring . As far as we can understand the principle , it is that a uniform sum , say one guinea , is paid by the subscriber , and according to his age he enters a certain cl ass , which of course consists of a number suitable to the ages of the members of which it is composed . As we are , however , not quite certain as to tine mode of operation , we take the following account which we are assured is correct : — ' The assurers are divided into classes , oach joining what class ho or she pleases ; the first consisting of 500 members , and the last of 20 , 000 . In oaoli case , as soon as the class is formed , that is , as soon as the 500 guineas or the 20 , 000 guineas are paid , the plan commences
its operation j the first member that dies is entitled , by his representatives , to tlie sum of 125 / , in the flrat class , and 0 , 000 * . in the last . This it not ensh , howpvor , but Consols . The assurers holding the policy next in order to that of the deceased becomes at the same time entitled , in tho first class , to 25 QJ . Consols , and in tho last to 10 , 000 / . Consols . Of course tho intermediate classes are iormoa on the like scale . This company puts forth its claim to public acceptance on the ground that it gives tho public no trouble : that tho money will bo invoiced as soon ns tho subscription begins , nay , is already invested , and that thoro can , therefore , bo no risk of pecuniary lose , while tl » o smallnosa of tho sum to bo paid , tho absence of all additional payments , and the largeness ot tho sum to bo rooelvod , are hold out as induct ) - mbnts to tho publUy Tho plun ia evidently ft fulr
Norwich Union Life Office. Ok "Wednesday...
NORWICH UNION LIFE OFFICE . Ok "Wednesday last the annual general meeting was held at the chief office of the Society . J Wright , Esq ., the President , took the chair , and , after the accounts had been submitted to the members by ; the Secretary , Sir Samuel Bignold , the following Report of the Directors was read : — BEPOET OI" THE DIRECTORS . "In meeting the members of this society at their Fifty-first Annual General Meeting , the directors have much pleasure in reporting the onward progress of the institution . Since the declaration of the last bonus in 1857 , the continued favour in which , the society has stood with the public has been attested by the large number of Insurances effected . "In the two years ending the 30 th of June , 1858 , 1 , 252 policies were issued , insuring no less a sum than 571 , 296 * . 4 s . 3 d ., at an annual premium of 18 , 610 / . 11 s . 3 d ., and granting annuities of 4 . 058 Z ; 15 s . per annum for a consideration of 41 , 6031 . 11 s . 3 d .
In the twelvemonth now expiring , the new business has been as follows : —695 policies have been issued , insuring the sum of 250 , 7662 . 4 s . 4 d ., at an annual premium of 8 , 867 Z . 13 s . 5 dM and granting annuities of 3 , 026 Z . 8 s . for an immediate payment of 29 , 982 & 13 s . 3 d . Large as has been this amount of new business , the directors by no means consider that a maximum has been attained , but , having regard to the number of persons interested in the well-being ofajsociety . which carries upon its books 10 , 442 existing Policies , insures a sum of 5 , 693 , 713 * . 2 s . Id ., and possesses accumulations exceeding two millions sterling , they appeal to this large body of insurers to second the efforts of their managers in upholding and enlarging its
operations . " The directors beg to call the attention of the members to some changes which bave taken place in the office investments in the last year . They have caused sales to be effected of 200 , 000 * , stock in Consols , New Three per Cents ., and Three per Cents . Reduced , and have invested the proceeds in firstclass securities , producing an average interest of Four-and-a-Quarter per Cent ., thus establishing an improved income of about 2 , 000 / . per annum . The directors farther report to the members that , after due deliberation , they have decided in all cases of application for insurance , where medical advice is required by the office , to pay a fee to the private medical referee whose opinion may be thought necessary for its protection . to before
" In conclusion , the directors desire bring the meeting a question which has called for their anxious consideration . * ' The very general formation of volunteer corps , or rifle | clubs throughout the Kingdom has given rise to numerous inquiries , whether an insurer , by enrolling himself in such a body , would infringe the conditions of his policy . That no such effect would follow in time of peace might readily bo concedod , but if war should break out , and an emergency arise which should call ouch forces into action , the case would be vory different , and , in tho pressure of , such a crisis , there would be little opportunity of obtaining a licence from the board , and paying an extra premium if required . Your directors feel httle apprehension of danger from so hopeless an undertaking as a foreign invasion ; but , should it be attempted , they fool sure that the members of the volunteer corps would bo only the first , in the performance of a duty , which would be eagerly acknowledged by ail , whother enrolled or not ; and they considor that it is the duty of tho insure anco companies to come forward at once , and patriotically declare that their rules shall be no obstacle to the formation of a force so constitutional and yet so . oflloient , as that , now forming for the protection of tlie country . " They therefore propose that neither in tho case of oxisting policies , nor of those to bo issued thereafter , shall any contract of assurance be prqjudioiftlly ntfbctod by the assured person enrolling himself , or
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Citation
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Leader (1850-1860), July 9, 1859, page 21, in the Nineteenth-Century Serials Edition (2008; 2018) ncse2.kdl.kcl.ac.uk/periodicals/l/issues/cld_09071859/page/21/
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