THE FIELD 
335 ’ 
April 8.] 
teroplated, and that the paid-up capital of £10,000, which was 
nlv intended for a Life Guarantee Fund in the earlier stage of 
the Society's existence, and would have been ample for that 
1 umose has been found inadequate for the full development of 
{'his branch of the company’s business ; and as they consider 
t highlv desirable to continue and extend so profitable a part 
r t j, e business, they recommend the shareholders to create an 
°.ji t i ona l capital of £100,000. by the issue of new shares, under 
the provisions of the company’s 'Deed of Settlement. 
» 3 regards the agency department, your directors have 
•riven their attention during the post year to the formation and 
consolidation of good agencies in some of the most important 
towns, and have even.- reason to be satisfied with tjieir present 
'^ Manchester, Oldham, Bristol, Leeds, Birmingham, and 
Northampton, the company’s operations have been eminently 
succesful, and have quite equalled the most sanguine expectations 
? f votfr directors, and they hope that with increased exertions 
°n’their part, assisted by the cordial co-operation of both the 
proprietors and policyholders, they will l.e enabled to lay 
before you at the next Annual Meeting, a still more gratifying 
R *Vour directors advert with pleasure to the increasing atten- 
tion which is daily bestowed on the subject of Life Assurance 
bv all classes of the community. The (.overnnieiit has shown 
its estimate of its value as a social question, by the reduction 
of the duty formerly imposed upon policies, to an amount so 
low that vour directors have for some time past issued their 
policies free of Stamp Duty. Besides the reduction in the 
Stamp Duty, the Government has further shown its appreciation 
of the value of Life Assurance, by allowing an abatement of 
duty on incomes in respect of Annual Premiums paid for Insu- 
rances. See the 54th clause in 17 & 18 Vic. c. .'54. intitlcd “ An 
Act for granting to Her Majesty Duties on Profits arising from 
Property, Professions, Trades and Offices. ’ 
The ( iovemment has ulso further decided, in proof of its anxiety 
to support the principles of Life Assurance, to appropriate the 
unclaimed money accumulated in the Post Office, amounting 
to £15,000, to the effecting policies of insurance on the lives of 
the officers of that national establishment. 
This company may now be considered fully established, and 
its expenses in future will hear a much smaller ratio to the 
amount of business transacted. 
A dividend, at the rate of five per cent., lias been paid upon 
the capital stock of the company for the past year, in con- 
formity with the deed of settlement, and under the authority 
of Mr. Neison, the consulting actuary of the company. 
Pursuant to the terms of the deed of settlement, the fol- 
lowing Directors retire by rotation, viz. Messrs. Barnes, 
Prinsep, Knox, and Hiddkm,, who are eligible for re-election, 
and offer themselves accordingly. 
Two of the auditors, Messrs. Jonfp, and Siikiudan, also 
retire from office, by the provision of the company’s deed. 
Your directors, m conclusion, desire to remind the share- 
holders that the success of this company may be greatly in- 
creased, and its operations extended, by the personal exertions 
of the shareholders themselves ; and they would, therefore, 
urge upon them to endeavour to make the company, and the 
advantages it affords, known among their friends and connec- 
tions ; and to show their own confidence in i I, by themselves 
assuring if not already assured. 
By order of the Board, 
C. W. Bevan, Manager and Secretary, 
March 25th, 1854. 
The chairman then roso and said it would ho unnecessary for 
him to go into n detail of the report which they had just heard 
Mr. Devon rend. The position of the company, ns set forth in 
tlint document, ought to be a subject of congratulation to nil 
those who lad assured in the company, or wore shareholders in 
if. Ho was confident that no other office had made so much 
progress in bo short a time ns the Deposit Assurance Company. 
During the yenr there had been many proposals made, which ho 
was l.nppy hod been, with some few exceptions, accepted. They 
would see by the report that during the year they hud increased 
their annual income to £10,542 : the business was good, and 
continued to increase. By tne statement made it appeared that 
only three deaths had taken place, involving an insurance of 
some £621. This circumstnncc was of considerable importance 
to them, as it proved beyond a doubt that their medical officers 
were most diligent and careful in the fulfilment of the duties de- 
volving upon them. In the infancy of the company they had 
laboured under sonic disndvnnlnge, owing to t)>eir being at the 
mercy of agents, but tbe direction bad now surmounted this 
difficulty, which they had more reason to he satisfied with, 
than to’ copiplnin of. They hnd especially experienced some 
trouble from one agent, but after all what ho hod done 
proved to bo a good business, although at one period it was 
thought to bo fictitious. (Hear, bear.) They now bad a most 
efficient set of ngents through whoso exertions largo incomes 
were realised in various pnrts of the country. During the last 
four months in Oldlinm,150 policies lind been effected bringing in 
on annual income of upwards of £300; in Bristol they had just 
opened no office, and by its menus got regularly to work, and 
hnd realised an income of £800; in Birmingham their annual 
income was £1,000, and the same amount was derived from 
Leeds, where the business had been greatly increased through 
the energy and activity of Mr. Egleston. Agencies had just 
bpen successfully formed in Manchester and Northampton. There 
"as a proposition laid before them which they would presently 
have an opportunity to discuss, — to increase the funds at the 
disposnl of the loan department, by the issuing of 20,000 addi- 
tional shares. The loan department was of the greatest moment 
to them, and to carry out its operations properly, it was necessary 
that ihero should be an jncrensp in the funds devoted to it. 
Their plan was to lend — at present— small stpns upon pergonal 
security, making the borrower ussuro his life for two and some- 
times even three times as much ns the amount lent. And it was 
seldom found that when the money was repaid tlint the policies 
were allowed to lapse, but the premiums were regularly paid. 
All ho could sny was, that if they carried out the proposition he 
was ready to take 500 shares in addition to those lie hnd already 
had in the company. (Hear, hoar.) In conclusion his lordship 
movod i lie adoption of the report. 
Mr. Prinspp in seconding the motion for the adoption of the 
report, observed that document spoke for itself, it behoved them 
all to come forward and support the directors, and he was convinced 
that if they added to their capital, they would add to the business 
done and to the profit arising tl.creon. Mr. Knox spoke in approval 
of the report, remarking that, willi regard lotlic fu'iiro prospects 
of the Institutions, he was of opinion Mint it would he most bene- 
ficial judging from tbe results nlrendy obtained, to establish 
good agencies in the other large manufacturing towns in the king- 
dom. He believed that no office hnd made the rapid advances 
which the Deposit Assurance Company had done, in the short 
space of eighteen months, nnd they had every renson to believe 
that the business would go on increasing each year. There hod 
been, of course, a large expenditure during the year, but this was 
most necessary, nnd contributed not a little to the present pros- 
perous position of l lie company. (Hear, hear.) He, Ihcspcaker, 
would call upon Sir. Noisun, the ’consulting actuary, to state his 
experience in such matters, and the opinion ho formed of the 
present and future prospects of the Company. 
Mr. Neison, in answer, said that the present position of the 
Company spoke for itself. That there had been the greatest 
intelligence and activity brought to hear was evident from the 
ramified system of agencies which had been established, and 
which it was necessary should be properly carried out by- uu 
infant society, so as to bring it to the brilliant position which 
this Company had obtained. From his experience of the ex- 
ertions made by tbe secretary, and the efficiency of the various 
agencies established, he did not doubt that more extensive 
benefits would be arrived at. Reference hnd been made to the 
heavy expenses incurred by the Company. In his opinion it 
was right to go into the outlay in the infancy of a companv; 
it was u question whether £8,000 or £10, 000 should be spent in 
one year or live years, he was in favour of the funner, for iu 
the lapse of one year they would find themselves in the same 
good position as those companies which lie might term the 
slow nnd sure, which extended the expenditure of that sum 
over four or live years, at the expiration of which time they 
were only commencing to make a position. The money must 
be spent, and where care was taken in the laying of it out 
quickly, the business was secured iu a much shorter space of 
time than with the slow coaches he had referred to. T hey 
would find, after this original outlay, that as the business 
increased, the expenditure Would decrease, and that most mate- 
rially- as time progressed. The wisdom of the course that the 
society had pursued wus shown by its success: such a course 
with him wus a recommendation, as it comprised spirit and 
enterprise, and as in this society its success was pleasant to 
contemplate. The necessity for the expenditure in future years 
would not exist, and the shareholders ought to make up their 
mind that the expenditure was for tlje increase of the interests 
of the society-, and which e xpenditure would lie recouped to 
them, and in good time the fruits of the seeds sown would he 
seen. With respect to the loan business of the society, he was 
satisfied that that portion of the business would have a 
beneficial effect on the community at large, besides being 
a profitable investment oil the part of the society (Hear, 
hear). 
The Chairman having put the motion for the adoption of the 
Report to the meeting, it was carried unanimously. 
Messrs. Barnes, Prinscp, Knox, and Riddell, were re-elected 
directors. Messrs. Jones and Sheridan, the auditors were also 
re-elected. 
Mr. Swire, who holds as many ns 2,700 shares iu the Com- 
pany, moved that the usual remuneration to the directors 
should be continued during the present year. The proposition 
was seconded and carried new. con. 
It was proposed and carried that a sum of fifteen guineas 
each should be paid to the auditors, Mr. Bevan observing that 
they had been most indefatigable in preparing the accounts to 
lay before the shareholders. 
Mr. Prinsep then rose to propose that a vote of thanks should 
be passed to the medical officers, for the care taken by them ip 
the selection of lives for their policies. The small number of 
casualties which had occurred when compared with the large 
•amount of applications made was a proof that their medical 
gentlemen acted with the greatest care and discretion iu the 
selections they made of parties to effect assurances. 
Mr. Riddell seconded the proposition, and spoke in terms of 
approbation regarding the care bestowed upon the interests of 
the Company by the medical officers. 
The vote of thanks having been carried, 
I)r. Seanlan returned thanks on the part of himself and the 
other physicians attached to the Company. 
A vote of thanks was then passed to the chairman and direc- 
tors for their uniform attention, and for the zeal manifested by 
them in the conduct of the Company's affairs. 
Lord Drumianrig said he thanked them for their approval of 
the line of conduct adopted by himself as chairman, and by the 
gentlemen who had assisted him as directors. He had always 
endeavoured to do his duty, as he took a lively interest iu the 
welfare of the Company, not only as their chairman, but also 
as a shareholder. He begged to ini press upon them the neces- 
sity- of their all becoming assurers; he had done so to the 
amount of £4,000, and he believed all the directors had assured 
in the Company. They were indebted for much of their pre- 
sent success to their agents, to whom he thought it w-as but due 
that the thanks of the shareholders should be presented. (Hear, 
hear.) He would, therefore, move a vote of thanks to the 
ngents for their good services. 
Mr. Cracknell seconded this proposition, observing that they 
were much indebted to their agents. 
Mr. Davis, of Manchester, said he returned his sincere 
thanks for the vote just passed to the agents; lie could say for 
himself, and on the part of the others, that their future exer- 
tions should surpass w hat they- hnd already done. 
Mr. Davis, Mr. l’erks, from Birmingham, and others from 
Oldham, Derby, and Bristol, then handed in proposals for 
policies to the amount of £16,372. 
Mr. Kiiqx said |t hud been his pleasing duly bud year In pro- 
pose a vole of thanks to their Secretary, Mr. Bevan. During 
(lie twelve months which hnd elapsed, ho hnd had frequent 
opportunities of w itnessing Mr. Devim's energy in the cause o’ 
the Compnny, nnd it was therefore with increased groliliiMlion 
that ho made a similar proposition to the ono he hod dono a 
year hack. Ml'. Bevan brought all his powers into play to pro- 
mote the success of the Company ; he devoted all his lime to it ; 
nnd they would not have looked so well tlint day had ii not have 
been for the well-directed exertions of tliqlj: perivinry. Much 
of their success was to he attributed to Mr. Devon's judicious 
sclcctjon of agents, and lie thought their thanks was the 
smallest recompense 1 1 icy could give him for his past services. 
Mr, Poolo seconded the proposition, nud observed tliul Mr. 
Devan’s exertions were quite astonishing; his activity, both of 
body nnd mind, surprised him ; without his energy their ngents 
would never have been so successful on the part of the Company. 
Mr. Prinsep begged that it might go forth thm ibis vote of 
(lmnks was scccondod by the whole body of shareholders. 
Mr. Cody, of Hath, moved that £150 should be presented to 
Mr. Bov an. 
Mr. Bevan in returning thanks, expressed himself conscious 
of the honour Which had been done him by- the meeting, in 
noticing so particularly his services, which he said should ever 
be devoted to advance the welfare of the company, and that 
he hoped before very long, not only to double the business 
done, but to treble it. or even quadruple it. He also begged 
to say that he was ignorant of the fact of Sir. Cody being in 
town, for if he had known that gentleman had intended to make 
the proposition they hud just heard, he should have requested 
him not to have done so. He aguin thanked them for the 
honour they had conferred upon him. (Hear, hear.) 
Mr. Knox observed, that Mr. Cody's suggestion had better 
be left to the Hoard ; they had it in contemplation to increase 
Mr. Bevau’s salary. 
Lord Drumianrig then left the chair, as his presence was 
required at Buckingham Palace. 
Mr Prinsep was moved into the chair, and an Extraordinary- 
Meeting was held, at which the following resolution was unan- 
imously carried : — 
That this Meeting, thinking it advisable to raise more money- 
fur the purpose of the Company, with the view particularly of 
developing the loan operations thereof, hereby resolve that the 
temporary capital of the Company shall he increased to an 
amount (inclusive of the present temporary- capital thereof) of 
£20,000, by the creation and sale of new shares of £5 each. 
That the number of new shares to be created shall be 20, 0U0, 
and that the present proprietors, policy holders, agents, and 
medical officers of the Company shall have an option, to be 
declared not later than the 10th day of June, 1854, of subscribers 
for taking such new shares, without payment of any- premium 
thereon respectively-, or at par, under and subject to such 
restrictions upon, and such rules and regulations with reference 
to, the exercise of the option as the Directors shall from time 
to time impose, or make and declare. That such of the new 
shares as shall uot be disposed of at par. pursuant to tbe last 
resolution, shall be issued and sold by- the Board of Directors to 
any person or persons who shall be willing to purchase the samo 
at a premium of 2s. 6d. per share, or on such other terms as the 
Directors might from time to time determine. 
That as regards the payment of deposit instalments, the new 
shares to be created shall as far as circumstances will permit bfl 
placed on the same footing ns shares on the present or existing 
temporary capital fund, and accordingly the sum of 10s. shall 
be paid 11s the first deposit upon each of the j)flnio shares dis- 
posed of pursuant to the second nud third resolution. 
That to give effect to the above resolutions the above bo 
inserted in the various morning and other papers. 
The Meeting then separated. 
AGRICULTURAL TALK. 
The adulteration of oilcake has been engaging the atten- 
tion of the Royal Agricultural Society; tins is just one of 
the practical questions, in which wc might expect tl»0 
Society to he ot spino use, but from the very meagre clin- 
meter of the Official Reports, the only offcct of this discus- 
sion is to repeat the names of gentlemen, in some of whom 
wc have confidence, nnd in some of whom we have not, 
without giving us much idea of what they respectively say. 
A communication, read nt the meeting of the 2‘Jtli nit., 
from a manufacturer, attributes the prevalence of adulter- 
ation to the prejudice which farmers entertain against 
hard oilcake. To meet this prejudice, manufacturers 
adulterate cake with bran nnd other worthless soft, mate- 
rials. The writer of the letter states positively, that soft 
cake cannot he produced from the finest seed; nnd then 
suggests, that cake manufacturers should prove their ho- 
nesty, allow ing any ono to enter and see the process of 
manufacture in their mills. After this communication a 
discussion followed, but what wits said wc no more know 
tlmn w hat passed in parliamentary debates before the timo 
of Woodfall. But without inquiring into tho opinions of 
the colonel or the professor, the breeder or tho agricultural 
commissioner, it is not hazardous to assert that in tho pur- 
chase of oilcake ns in the purchase of guano-phosphate, a 
fanner ought to have enough scientific nnd practical know- 
ledge 10 distinguish the good from the lmd. A farmer, ns 
a matter of course, understands how to choose grain by tho 
sample ; lie can handle a fat bullock; con tqll the nge of a 
liorsp by the mouth ; yet no one of these acquirements is 
mure essential to success in the present state of farming 
than the knowledge which will protect him from being 
cheated in portable manures nnd artificial food. 
Mr. Austin, of Manchester, informed tho council nt tho 
same meeting, that by sprinkling a dung heap where daily 
a ton of horse manure was produced, with a solution, con- 
sisting of u pound of common green copperas in a gallon of 
water, with a common watering-pot, nil the offensive odour 
nnd evaporation was prevented. 
T he Physiology of breeding was the subject of a very 
elaborate anti interesting paper, rend before the Newcastle- 
upon-Tyne Farmer's Club last month, by Mr. Orton. 
Mr. Orton is of opinion that the male animal in the 
majority of eases, gives tho external, nnd the fctnnlo tho 
internal conformation. He takes the ease of the ntitlc, nnd 
finds that the mule, the produce of the male ass and mare, 
is essentially tho modified ass. The ears of an ass some- 
what shortened, the mane of the nss, the skin of tho ass ; 
the legs slender, the hoofs high and contracted, but tho 
body and barrel are full and round, in tlint respect resemb- 
ling that of the marc. 
(.in the other side, the produce of the stallion nnd the 
nss is n modified horse, in ears, inane, tail, hips, shins, and 
colour; but the body is fiat and narrow, like its mother, 
the ass. In each case, the external characteristics nro 
those of the male ; but in size and in shape of body ni|d 
Bones they follow the female parent. Hence lie infers that be 
gives the external organs, the skin, the muscles the female 
the internal organs, the heart, the lungs, the liver, tho 
stomach, the bowels. 
A cross between the male wolf and a bitch, nnd between 
n dog nnd n female wolf, illustrate the same law, and 
allbrd each instance ; resembling, in one case, a mongrel 
wolf, and the other a mongrel dog. Bird hybrids afford 
the same result. It is observed that diseases arc more 
communicated by the mother than by the father. 
Cow breeders know that to breed .1 good animal for the 
dairy, it is essential to select a dam with tlmt qualification. 
A eross of Cochin China cock* with common hens, pro 
duced white eggs, unlike the buff’ of the pure breed. Tho 
chickens when young resemble the Cochin breed, but as 
they grow up lose the characteristic feathered legs, not 
having the iiiternnl vital organs necessary for their growth. 
Mr. Orton further referred to tho history of shorthorns 
in further illustration of his theory. II. HUbback wns tho 
sire of the breed; nil the best blood goes back to him. 
Hi* dam was the property of a poor cottager. When this cow, 
after producing Hubback, was put 011 good feed, she ceased 
to breed. As nothing is known of the sire of Hubback, 
and everything of the dam, it is presumed that his good 
qualities were derived from the hitter. Thus wc see a 
female with large vital organs giving stamp and character 
to a rnco whose properties are those of vital organs. 
Codings seemed to act on this principle. Ilis cross wns 
between n hull, Bolingbroke, and u beautiful red Galloway 
cow, which produced a bull-cnlf, which wns tho sire of 
another bull-calf by the fine shorthorn cow, Johanna, which 
became the sire of the cow, Lady, by a shorthorn cow, and 
from half-brother nnd sister the noted bull Favourite. 
Thus, by retaining the short-bora bull, he retained the 
external form, and by the Galloway cow lie improved body 
barrel, and then returned back to the short-born femulp 
stock. 
The conclusion nt which Mr. Orton arrives is, tlint good 
males arc useless without well-chosen femulcs. In horned 
stock choose the hull for form and early maturity, the cow 
tor milking qualities. 
Agricultural Returns eou Ireland.— In 1852 
there were 353,506 acres in Ireland under wheat ; in 1853, 
327,254 acres. Of oats there were 2,283.449 acres in 1852, 
2,1 56,G74 in 1853. Of barley, here, rye, beans, nnd pens, 
there were 339,591 acres in 1852, 349,017 in 1853. Of 
potatoes, 876,532 acres in 1852, 897,774 in 1853. Of tur- 
nips, 356,790 ucres iu 1852,399,335 in 1853. (11 other 
green crops, 121,565 acres in 1852, 120,561 in 1853. Ot 
llnx, 137,008 acres in 1852, 174.423 iu 1853. Meadow and 
clover, 1,270.713 acres in 1852, 1,270,309 acres in 1853. 
The total extent under crops was 5,739,214 acres in 1852, 
5,695.347 iu 1853, ft decrease of 43,807 acres. The chief 
decrease was in oats and wheat, the chief increase in tur- ( 
nips, flax, and potatoes. These returns are collected by 
the efficient aid of the constabulary and metropolitan 
police. , 
