HE view taken in this column that 1913, notwithstanding adverse conditions in the worlds of politics and finance, will prove to have been one of progress and increased profits in insurance, is borne out by expert reviews by others who have special opportunities for knowing what the insurance companies are doing. Many will doubtless have done better than their reports actually show, because highly prosperous insurance companies are like banks: they are not always anxious to exhibit £4,676,274. £4,810,459. Office :- 2 & 3 The Sanctuary, Westminster, S.W. their whole strength. Messrs. Maclean and Henderson, of No Shareholders. Stirling, send us a useful summary of movements as they have affected insurance in the past year. 1913 was particularly unfortunate in the matter of money stringency, due partly to wars, rumours of wars, rebellions, domestic conflict, and the menace of civil strife in Ulster, partly to bountiful harvests, which have BRITANNIC by assisting trade made large demands on floating capital. But Assurance Company, Ltd. if some of the causes of money stringency have been embarrassing, they have also been extremely profitable to certain insurance companies. Lloyd's and other offices have been able to charge very heavy premiums on special risks, and the underwriters in many cases have come out with fine returns. If Home Rule were foisted upon Ireland and Ulster took the field they might indeed be hard hit; if nothing happens, the rate, which has been rapidly advanced from 3s. per cent. to £1 per cent., will have provided an excellent profit. ESTABLISHED 1866. TWO IMPORTANT ANNOUNCEMENTS. I. 2. The Annual Reversionary Bonus in the ORDINARY BRANCH (Immediate Profit Class) has been increased to £1 12s. per cent. per annum. A Cash Bonus at the rate of £5 per cent. upon the Sums Assured under INDUSTRIAL BRANCH policies of 5 years' duration and upwards which become claims by death or maturity during the year terminating 8th March, 1914, except in cases where additions have already been made under the terms of the policy. J. A. JEFFERSON, F.I.A., Secretary. Chief Offices: BROAD STREET corner, BIRMINGHAM. Prudential Assurance Company, LIMITED, HOLBORN BARS, LONDON. The advance in the rate is however in itself not devoid of ominous import for those who accepted the risk. Insurance underwriters necessarily deal with the unknown and take speculative risks, but their information is generally sound. None will be more relieved, in a double sense, than the insurance underwriters if the Irish crisis passes without an appeal to force. That is one phase of a great problem of which the general public hears little. Though 1913 has not been marked by any very serious outbreak, and companies doing business in the fire department will probably all be able to report a more or less good year, the fire losses of British offices abroad have been consider-Invested Funds exceed able. In America an unusual number of fire offices, according to Messrs. Maclean and Henderson, have had to retire; this Claims Paid may not be without its advantages to British offices, as it will help, as they point out, to check the tendency of premiums on American business to fall. "This means a great deal to many of the British offices, some of whom draw the largest part of their premium income from the United States, such as the London Assurance, Scottish Union and National, Liverpool and London and Globe, and the Caledonian." American business has not been over-profitable for British offices in the last year or two, and any change in the conditions which promises better things will be welcome. The side on which the British offices will probably, when the full results of 1913 are reviewed, be shown to have achieved really remarkable progress is that of life assurance, and that despite the fact that depreciated securities have compelled some to reduce or pass their bonus. New business seems to have been · BANK OF AUSTRALASIA Head Office: (Incorporated by Royal Charter, 1835). 4 THREADNEEDLE STREET, LONDON, £2,000,000 £2,660,000 £2,000,000 Letters of Credit and Drafts issued on any of the numerous branches of the Bank throughout Australia and New Zealand, Bills negotiated or sent for collection, Telegraphic Transfers made. Deposits received in London at interest for fixed periods on terms which may be ascertained on application. R. W. JEANS, General Manager. excellent, which is after all the test of a company's standing. BOOKS, ANCIENT AND MODERN, BOUGHT, SOLD, AND EXCHANGED, The National Insurance Act, whatever its defects-and they are so great that an inquiry into its working is strenuously demanded -is believed to have had a certain beneficial effect in drawing public attention to various branches of insurance. If the majority of the companies are able to show results proportionate to those of the National Mutual Assurance Society, the confidence with which reports are awaited will be entirely justified. The National Mutual have had to write off over £100,000 on account of fall in market value of first-class securities, yet the quinquennial investigation reveals a surplus of £341,000, which is some £60,000 more than last time. Hence the office is able to increase the bonus from 30s. compound to 36s. compound, and to carry forward 102,164, as against £78,581 for 1908. Moreover the company deems it safe to promise that the interim bonus for the next five years will be at the rate now declared. The prospect properly utilised means a fine advertisement for the company in the present quinquennium. The report for 1913 warrants optimism. Not merely has the year been a record for new policies, which amounted to £475,579, but the interest earned has risen to £4 15s. 3d. after deduction of income-tax. Obviously the National Mutual is one of the companies which will benefit most largely when the time arrives to begin writing up first-class securities. The office must have had excellent opportunities during the past two or three years for securing desirable holdings at practically bedrock prices. Monthly Catalogues Free. THOMAS THORP, 93 St. Martin's Lane, W.C. [And at READING.] DELICIOUS Mazawattee Tea THE PREMIER TEA OF THE WORLD. Prices: 1/6 to 3/4 per lb. FULL WEIGHT WITHOUT WRAPPER. SOLD BY ALL FAMILY GROCERS. POLITICS AND ECONOMICS A FIRST GLANCE AT NEW BOOKS The Nature and First Principle of Taxation, by Robert Jones. ART With a Preface by Sidney Webb. (P. S. King and Son. 7s. 6d. net.) Is No. 37 in the series of Studies in Economics and Political Science (edited by the Hon. W. Pember Reeves), by writers connected with the London School of Economics and Political Science. Animal Sculpture: Suggestions for Greater Realism in Modelling, by Wealth: A Brief Explanation of the Causes of Economic Welfare, by Walter Winans. Illustrated (Putnam. 7s. 6d. net.) The author, a sculptor of distinction, explains the various processes in the production of animal figures or groups, describing the expedients he has found of greatest service in attaining particular effects and in assuring faithfulness of rendering. BIOGRAPHY In the Footsteps of the Brontës, by Mrs. Ellis H. Chadwick. Illustrated. (Pitman. 16s. net.) Mrs. Chadwick has spent much time in the districts associated with the Brontës, both in England and abroad, and has collected in this volume a great deal of information concerning the family. Random Recollections, by R. Caton Woodville. Illustrated (Eveleigh Nash. IOS. 6d. net.) A lively account of Mr. Caton Woodville's varied experiences as war correspondent and artist during thirty years. The Memoirs of Maria Stella (Lady Newborough), by Herself. Translated from the original French by M. Harriet M. Capes. Illustrated. (Eveleigh Nash. 103. 6d. net.) The remarkable story of Maria S ella, who was alle ged to be the daughter of Philippe Egalité, and to have been exchanged by him, in infancy, for a boy (the son of an Italian named Chiappini) who subsequently became Louis Philippe. Personal Service: being a Short Memoir of Agnes Burton, by Ellen Maples. With two portraits. (Longmans. Is. 6d. net.) EDUCATIONAL Ambidexterity and Mental Culture, by II. Macnaughton Jones. Illustrated. (Heinemann. 2s. 6d. net.) Is an amplification of articles recently written by Dr. Macnaughton Jones for The Child, showing that much evidence has been collected which proves that the cultivation of ambidextrous exercises, both in art and writing, has a decided effect on the mind of the growing child and on the child's character. A First Book of Experimental Science for Girls, by Mrs. Jessie White: The House, Hydrostatics and Heat. Illustrated. (A. and C. Black. Is. 6d.) HISTORY Enslavers of Kings. by Thornton Hall. Illustrated. (Heath, Cranton, and Ouseley. 15s. net.) Thirty chapters dealing with the love affairs of various kings and princes. Thoughts on Christian History, by the Hon. Albert S. G. Canning (Fisher Unwin. 7s. 6d. net.) A revised and enlarged edition of a former work. A Brief Tudor-Stuart Book-List, being alphabetical and classified lists of English works of general interest bearing on British History, 1485-1714, with particulars of dates and prices and various editions. Prepared for the use of teachers and elementary students of history, by J. S. Lindsey. (Cambridge: Heffer. 2s. 6d.) NOVELS The Flying Inn, by G. K. Chesterton. (Methuen. 6s.) The Colour of the East, by Elizabeth Washburn. (Melrose. 6s.) The Woman from the Unknown, by Stewart Wren. (Heath, Cranton, and Ouseley. 6s.) The Questing Beast, by Ivy Low. (Martin Secker. 6s.) Square Pegs, by Charles Inge. (Methuen. 6s.) The Garden of Dreams, by H. Grahame Richards. (Hutchinson. 6s.) John Ward, M.D., by Arthur Hooley. (Mills and Boon. 6s.) Edward Cannan. (P. S. King. 3s. 6d. net.) Is the outcome of the annual course of lectures which the author has given for first-year students at the London School of Economics since 1898. Principles of Property, by John Boyd Kinnear. (Smith, Elder. Is. net.) Describes in simple terms the fundamental principles of the doctrine of Private Property and demonstrates the fallacies of Socialistic In the theories, whether applied directly or by way of taxation. second part the problems of the Land Question are dealt with. Royal Railways with Uniform Rates, by Whately C. Arnold. (Simpkin, Marshall. 6d. net.) A proposal for amalgamation of Railways with the General Post Office and the adoption of uniform fares and rates for any distance. The Land Problem: Notes Suggested by the Report of the Land Enquiry Committee. (Wyman and Sons. 6d) A These notes have been submitted to the Land Conference (which consists of delegates from various bodies representative of the ownership, occupation, and management of land), and they consider it a valuable contribution to the Land controversy. Reply to Mr. Balfour's "Nationality and Home Rule," by P. Jeffrey Mackie. (Glasgow: Hedderwick. 3d.) The author of this pamphlet suggests the following as a basis for the policy of the Unionist Party in regard to Ireland :-abolish the Viceroyalty, create an Irish Home-Secretaryship, create Divisional Councils, continue the Land Purchase Scheme, institute Electoral Reform and Redistribution of Seats, and introduce Fair Trade. REFERENCE BOOKS Encyclopædia of Religion and Ethics, edited by James Hastings. Vol. vi: Fiction-Hyksos. (Edinburgh: T. and T. Clark. 28s. net.) Is the sixth volume of this valuable encyclopædia, which gives a complete account of all the religions of the world and all great ethical systems, each subject being assigned to one who has made a special study of it. The Year's Art, 1914, compiled by A. C. R. Carter. (Hutchinson. 5s. net.) In Illustrated. The thirty-fifth annual issue, containing a concise epitome of all matters relating to the arts of painting, sculpture, engraving, and architecture during 1913, together with information concerning th events of the present year. TOPOGRAPHY AND TRAVEL Far New Guinea, by Henry Newton. Illustrated. (Seeley, Service and Co. 16s. net.) The author joined the staff of the Anglican Mission to New Guinea in 1899, and gives an interesting account of his work and observations amongst the native people, with a description of their manners, customs, and religions. Among the Primitive Bakongo, by John H. Weeks. (Seeley, Service, and Co. 16s. net.) Illustrated. The author of Among Congo Cannibals, with thirty years' experi ence of the peoples of the Lower Congo, records his observations of the Bakongo and other tribes, giving a description of their habits, customs, and religious beliefs. Customs of the World: A Popular Account of the Manners, Rites, and Ceremonies of Men and Women in all Countries, edited by Walter Hutchinson. Illustrated. (Hutchinson. Two vols. 13s. 6d. net per vol.) In These two handsome volumes are illustrated by 721 reproductions in black-and-white, 16 coloured plates, and 3 maps, and include contributions by many eminent authorities. Cheyne Walk and Thereabout, by Reginald Blunt. Illustrated. (Mills and Boon. Ios. 6d. net.) A most interesting account of some little-known, as well as some famous, persons and places connected with the history of the Chelsea riverside, the illustrations including reproductions of some of Mr. Hedderley's fine old (wet-plate) photographs, taken more than fifty years ago. Vagabond's Way, by Nancy Price. Illustrated by A. S. Hartrick. (John Murray. 6s. net.) Describes some wanderings on the Cumberland Fells. TRANSLATIONS Illustrated. Idylls of a Dutch Village (Eastloorn), by S. Ulfers. Translated by B. Williamson-Napier. (Fisher Unwin. 5s. net.) Man's Miracle: The Story of Helen Keller and her European Sisters. From the French of Gérard Harry. (Heinemann. 3s. 6d. net.) Besides telling the story of Helen Keller, who at the age of 19 months was afflicted with an illness which deprived her of her sight, hearing, and speech, and who has since gained a thorough knowledge of algebra, mathematics, Latin, French, German, and English, the author tells of other children similarly afflicted, and describes the manner in which they have been taught. VERSE Rubaiyat of a Minor Statesman, by G. William S. Sparrow. (Heath, Cranton, and Ouseley. Is. 6d. net.) The author has parodied the lines of Omar Khayyám, his object being to show how little change is needed to make them fit the events of the present day. VERSE (continued) Time and the Timeless: Songs of Shadow and of Hope, by a Physician. (Glaisher. 2s. 6d. net.) The Message of the King, Ad Britannos, and other Poems, by James Storie. (Paisley: Alexander Gardner.) MISCELLANEOUS A Gypsy Bibliography, by George F. Black. (Bernard Quaritch. 15s.) Is published for the Gypsy Lore Society, and gives an account of the literature relating to the Gypsies. Brief notes are appended to many of the titles to indicate the scope of the work and the kind of information it conveys. Motoring, by Algernon E. Berriman. Illustrated. (Methuen. 10s. 6d. net.) Is intended for the non-technical motorist, and besides explaining the fundamental principles of the operation of a motor car, deals with the choice and upkeep of the machine, and the art of driving it. The book is fully illustrated. Nursery Management, by Mary Gardner. (Eveleigh Nash. 5s. net.) In this study of the interpretation of personal names Professor Weekley has steered a course between a too learned and a too superficial treatment, his aim being to show how surnames are formed. 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A quarterly record of progress in Tropical Agriculture and Indus tries and the commercial utilisation of the natural resources of the Lovers of a really good cigarette should try our Colonies and India. The Everyman Encyclopædia, edited by Andrew Boyle. Vol. xii: Ste to Z. (Dent. Is. net.) This volume completes this reliable reference encyclopædia, which is issued as one of the units of Messrs. Dent's popular “Everyman's Library." Each of the twelve volumes contains 640 pages and 500,000 words. REPRINTS AND CHEAP ISSUES George Wyndham, by Charles Boyd. (Humphreys. Is. net.) A reprint, with some additions, of Mr. Boyd's appreciation of the late George Wyndham, which appeared in the Cornhill Magazine for October last. Chance in Chains, by Guy Thorne. (Werner Laurie. Is. net.) The fourteenth volume in Messrs. Dent's new Collection Gallia. Old Mole's Novel, revised and expurgated by Gilbert Cannan. (Martin Secker. 6d. net.) A Great Coup, by Nat Gould. (John Long. 6d.) Brother Richard's Bookshelf (No. 5) Christmas Eve, by Robert Browning. With an introduction and notes by T. E. Harvey. (Dent.) MAGAZINES AND REVIEWS Woman at Home, 6d.; Pall Mall Magazine, 63.; Socialist Review, 6d. THE influence of personality on gastronomy is very happily "EGYPTIAN BLEND Made from the finest selected tobaccos. Price 5s. per 100. Only Address: 91 JERMYN STREET, LONDON. FIRE RISKS.-THE LEADING INSURANCE COMPANIES ACCEPT OUR VALUATIONS FOR BASIS OF POLICIES. INVENTORIES OF ART COLLECTIONS, FURNITURE AND ALL OTHER VALUABLES SECURING PROTECTION TO OWNERS ARE PREPARED IN ALL PARTS OF THE KINGDOM. KNIGHT, FRANK & RUTLEY, 20 HANOVER SQUARE, LONDON, W. illustrated by the migration of the popular maître-d'hôtel known HOMES for LITTLE BOYS, as "Sunny Jim" (Signor Giacomo Callafante) from the scenes of his early triumphs at Romano's, the Savoy, and the Cecil to the St. James's Palace Restaurant in Bury Street, which under his direction bids fair to become one of the most popular haunts of the gourmet in London. Bury Street, St. James's, is closely associated with the life-stories of Steele and Swift, while on the very site of the St. James's Hotel once flourished the headquarters of the Ancient and Honourable Society of Bucks, which did so much to promote the social gaiety of our pleasure-loving ancestors during the last half of the eighteenth century. PLEASE HELP THE POOR CRIPPLES! LORD MAYOR TRELOAR CRIPPLES' HOSPITAL 800 Patients admitted since opening of Hospital in 1908. 90% SUCCESSFULLY TREATED. 60 Crippled Lads learning useful Trades to A MASTERPIECE. Do you know that wherever the English language is spoken Jack London's finest and longest novel, THE VALLEY OF THE MOON 530 pp. 68. (Mills & Boon), is a record seller? In Great Britain, in Australasia, in South Africa, thousands have been sold. In America it is one of the biggest successes of modern times. Why? you will ask. The answer is simple. JACK LONDON in "THE VALLEY OF THE MOON" has found himself, and given to the world one of the grandest love stories of the last fifty years. Here are just a few opinions from various parts of Great Britain, all unanimous that a masterpiece has been written. Times. First Review.-"As a love story it is delightful, as a 'great adventure' it is absorbing." Morning Post.-"It is very beautiful, and a very fresh and original love story." Observer." One of the finest novels in its own way that could well be written." Tatler. "A book which I should like not only to read once, but many, many times. I have read no more healthy, vigorous story for many a long day.' Daily Telegraph.-" Mr. Jack London has put all his talents into this novel, which is an achievement in both romance and realism. . . The best work that Mr. Jack London has done." Eastern Morning News.-"'The Valley of the Moon' is the finest of all the fine things this writer has done.' His word Punch." Mr. London at his delightful best. pictures of country scenes are as fresh and fine as anything he has yet done. Brilliantly successful." Manchester Courier.-" Mr. London's story is one of the most human and beautiful we have met for a long time. In 1914 there will probably be no more engaging story." The Daily Graphic.-" This story of big Bill Roberts and of Saxon Brown is the best novel of Jack London." Pall Mall Gazette.-Mr. Jack London's longest and best book." Scotsman." Mr. London has done nothing better. . . In big Bill Roberts and the girl Saxon, Mr. London has drawn the most interesting and attractive characters whom he has yet created." Dundee Advertiser.-"We shall make no attempt to express the delight Mr. London's story has given. . . Superlatives are weak when you are dealing with the work of a master." J. E. BUCKROSE. MILLS & BOON'S Latest General Literature THE PHILIPPINES. By the Hon. DEAN C. WORCESTER, Author of "The Philippine Islands and their People," etc. With 128 full-page Illustrations. Two vols., Bro. 30s. net. EIGHT YEARS IN GERMANY. By I. A. R. WYLIE, Author of My German Year." Illustrated. Demy 8vo. 10s. 6d. net. IN CHEYNE WALK AND THEREABOUT. Containing short accounts of some Ingenious People and Famous Places that were by the Riverside at Chelsea. By REGINALD BLUNT, Author of Paradise Row." With 22 Illustrations. Demy 8vo. 10s. 6d. net. MARGHERITA OF SAVOY. By Madame ZAMPINI SALAZAR. With a Preface by RICHARD BAGOT. THE HERO OF BRITTANY: Armand de Chateaubriand. 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BUCKROSE. DOWN OUR STREET. 6s. cloth. 1s. net paper, and 18. net cloth. LOVE IN A LITTLE TOWN. 6s. cloth. 18. net cloth. A BACHELOR'S COMEDY. 6s. cloth. MILLS & BOON, LTD., 49 RUPERT STREET, LONDON, W. Printed for the NEW OUTLOOK Co., LTD., by Srottiswoode & Co. LTD., New-street Square, London, E.C., and Published at 167 Strand, London, W.C., every Saturday Morning. Sole Wholesale Agents for Australia, New Zealand, and South Africa (Central News Agency): Gordon & Gotch, London, Melbourne, Sydney, Brisbane, Perth (W.A.) and Cape Town.-Saturday, January 24, 1914. |