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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.
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reports that the flax crop will be a failure ; the large it oports 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 .
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PRICES OF THE PRINCIPAL STOCKS AND SHARES AT i'HE CLOSE OF THE MARKET .
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Tnrc annual meeting of tjie Dutoh-Rhunisu Railway Company was held at Amsterdam on the 30 th ult . The English shareholders wore represented by , Messrs . Thomas "Edwards Mossj William A . Chaplin , Ernoat Chaplin and II . 0 . Beloo . The report and accounts having been adopted , a dividend of 4 s . 3 d . par share was declared , making with the previous one Us , per share , or 32 , 13 s . fid . per cent , on tlio share capital of l&l ., which shows a consi * - dorablo increase pver tlio precodlng year , in which the net divisible income was 27 , 170 / , us compared with 64 , 2092 . distributed during tho present year . The increase is , consequently , from 32 , to 32 . 13 * .
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 two companies , and that the coal traffic has now commenced at a freight not exceeding that charged by the boat conreyance . 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 cordial thanks of the meeting were roted to the commissaries , as also to Mr . Ameshoff and the directors .
At the meeting of the R . AiLwi . x Companies Association on Thursday the Chairman said , in carrying out the resolutions of the last meeting , he h . ad written letters to the chairmen of the Ix > ndon , Brighton and South Coast and the London 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 ererything 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 North Staffordshire Railway Company is called for the 29 th last ., at Stoke-upon-Trent .
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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 . £ 222 , 830 . The Society still continues to qualify , in eleven counties , persons desirous of obtaining the freehold franchise , and to afford them at the same time the security of a land investment . The executive committee have under consideration the allotment of the Roehampton Park estate through the Register of Rights . The noble chair ? man , 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 . - » -, t , The half yearly meeting of the New Brunswick axd Canada Rah / way and Laitd 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 Agricultural Compant is called for the 21 st instant when a division of 15 s per share will be
recomone . 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 sum of money at the death of somebody else—or because his family have a chance of receiving a sura of he be himself carried off before a year lias 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 , ahd 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 undertakingr ^ -the young will say this is an institution for the very aged , who are inclined to run their Iive 3 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 .
mended , An assurance company , calling itself " The Public Life 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 sunn , say one guinea , is paid by the subscriber , and according to his age lie enters a , certain class , which of course consists of a number suitable to the ages of the members of which it is composed , As wo are , however , not quite certain as to the mode of operation , wo take tho following account which we av « assured is correct : — " The assurers are divided into classes , each joining what class lie or sho pleases } tho first consisting of 500 members , and the last of 20 , 000 . In each case , as soon as the class is formed , that is , as soon as the 500 gujneas
or tho 20 , 000 guineas are paid , tho plan commences its operation ; tho first member that dies is > entitled , by his representatives , to the sum of 1252 , in the first class , and 5 , 0002 . in the last . This it not ensli , however , but Consols . Tho assurors holding tlio policy next in order to that of tho deceased becomes at tho same time entitled , in tho flrst olass , to 2502 . Consols , and in tho last to 10 , 0002 . Consols . Of courso tho intermediate classes are farmed on tho like scale . This company puts forth its claim to public acceptance on tho ground thatlfc ff lvos tlio publio no troublo ; that the money will bo invested as soon as tho . subscription begins , nay , is alroady invoatod , and that tliero can , therefore , bo no risk of pecuniary loss , while tlio sniallness of tho sum to bo pad , the » bsonco of nil additional payments , antf the ^ Wfss ot tho sum to bo received , are hold out as Inducemonts to tho public . Tho plan is evidently ft fair
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NORWICH UNION LIFE OFFICE . On 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 : — REPOBT OF THE DIRECTORS . "Iii 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 > 2962 . 4 s . 3 d ., at an annual premium of 18 , 6102 . lls . 3 d ., and granting annuities of 4 , 058 ? .. 15 s . per annum for a consideration of 41 j 603 ? . lls . 3 d . In the twelvemonth now expiring , the new business
lias 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 d ., and granting annuities of 3 , 0262 . 8 s . for an immediate payment of 29 , 9822 . 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 accumur lations 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 have taken place in the office investments in the last year . They have caused sales to be effected of 200 , 0002 . stock in Consols , New Three per Cents ., and Three per Cents . Beduced , 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 further 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 bo thought necessary for its protection ..
" In conclusion , the directors desire to bring before 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 tho conditions of his policy . That no such effect would follow in time of peace might readily bo conceded , but if war should break out , and an emergency arise which should call such forces into action , tlie case would bo very different , and , in the pressure of such a crisis , there would be little opportunity of obtainand extra
ing a licence from the board , paying an premium if required . Your directors « el little apprehension of danger from so hopeless an undertaking as a foreign invasion 5 but , should it bo attempted , they fool sure that the members of the volunteer corps would bo ; only the first , m the performance of a duty , which would be eagerly acknowledged by all , whether enrolled or not -, and they consider that It is the duty of tho insurance companies to come forward at onco . and patriotically declare that their ruloB shaU be no obstacle to the formation of a force bo constitutional and yet so efficient , as , that now forming for the protection of tho country . , " They thoroforo propose that * neither in tho oaae of oxlsting policies , nor of those to bo issued tliere-i rtfeor , shall any contract of assurance bo prejudicially affected by the assured person enrolling himself , or
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Last This Week Week STOCKS . 3 per cent . Consols—Money j . • Ditto Reduced 93 * 94 * Ditto New ...,..,....... 93 f 94 J BankStock 2 M 2 n * India - ; •' Exchequer Bills 2 * P z < 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 6 per cent . .. ? Austrian Bonds , 5 per cent .. Brazilian Bonds , 5 percent ..... ¦ French Rentes , 3 per cent Mexican Bonds , 3 per cent •• Peruvian Bonds , 4 J per cent .... ... Spanish Bonds , 3 per cent Turkish Scrip , 6 per cent ........... •¦ RAILWAYS . ¦ Bristol and Exeter . 9 * fj > Caledonian 80 80 Eastern Counties ™» . 51 $ East Lancashire , ?* f Great Northern 1 °° < J . „ Western 55 * 56 Lancashire and Yorkshire : . 93 * . 93 J London and Blackwajl . 63 65 London , Brighton , and South Coast ....... 113 112 London and North-Western 921 92 f London and South-Western 92 * 93 * Midland 9 4 lOOj North British ...... 55 5 ;> i North Staffordshire 13 * 13 j | Oxford , Worcester , and Wolyerhampton .. 32 3 'i South-Eastern .. GSJ 69 J South Wales 61 01 Bombay , Baroda and Central India ....... 17 17 Calcutta and South Eastern . ..... id par Eastern Bengal ^ l £ d -i s " East Indian 101 102 Great Indian Peninsula 'J 7 I «» J Madras «* , Scinde 20 lt > £ Buffalo and Lake Huron ¦ r 'i 5 Grand Trunk of Canada 34 * 36 Great Western of Canada 14 g 15 s Antwerp and Rotterdam ..... ,. * * Dutch ifhenish 6 Ad 6 + d Eastern of France 24 * 2 o Great Luxemburg ••• 5 > oA Lombnrdo-Venetian 7 | id Northern of France 37 . 37 * Paris , Lyons , and Mediterranean 33 * 34 Paris and Orleans 50 51 Southern of France WJ . 194 * Western and North-Weatern of France .. 21 21
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BANK OF ENGLAND . An Account , pursuant to the Act 7 th and 8 th Victoria cap . ! J 2 , for the week eliding- on Wednesday , the Oth day of July , lSSU : — ISSUE DEPARTMENT . Notes issued £ 31 , 947 , 870 Government Debt £ 11 , 015 , 100 Other Securities .. 3 , 4 A « , » 00 Gold Coin ABullion 17 , 472 , 870 Silver Bullion .... £ ;) l , 947 , 870 £ 31 , 047 , 870 KAN KING DEPARTMENT . Proprietors' CapJ- Government Socutnl ... £ 14 , f > r > 3 , 000 rltlos ( Including ' Reat 3 , ^ 0 , 508 Dead Wc-ls'lit Public Deposits ( In- Annuity ) £ ll , 780 , 03 f > chiding Excho- Other Securities .. lfi ^ -. ' . SO . ') qui-r ,., Savings' Notes 10 , 472 , 000 Banks , Coinnits- Gold and Silver , Biom-rn of Na- .. Coin . 015 . 9 P 5 tional Debt , aiid . . Dlvldond AocountH ) 0 , 130 , 080 Other Di ' pOBltfl .... 13 , 681 , 531 Sovcn Day and other Bills 753 , 230 £ 41 , 651 , 386 £ -li ; 551 , ' . ' iV ) M . 3 IAKSHALL , Chief Cashier . Dated July 7 . 1850 .
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. RAILWAY INTELLIGENCE .
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JOINT STOCK COMPANIES .
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No . 485 . July 9 , 1 B 59-1 THE LEADER . 82 5
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Leader (1850-1860), July 9, 1859, page 825, in the Nineteenth-Century Serials Edition (2008; 2018) ncse2.kdl.kcl.ac.uk/periodicals/l/issues/vm2-ncseproduct2302/page/21/
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