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IT

MOTORING.

T may seem ungracious in view of the remarkably fine sporting programme provided by the Brooklands authorities on Easter Monday to make any complaint, but I have a small bone of contention to pick with those airmen who persistently throughout the afternoon indulged in more or less graceful manoeuvres right over the countless heads of the crowds in the paddock and the various enclosures. Not only did these gentlemen do much to distract attention from the numerous extremely interesting and often exciting races on the track, but they did even more to discount the enjoyment of spectators ladies especially-by a senseless procedure involving very grave danger to those below in the event of accident. Local Government Board regulations do not allow aeroplanes to fly over cities or large towns, and I trust that the B.A.R.C. executive will see to it that the objectionable form of self-advertisement practised by the offenders I refer to is promptly suppressed.

Of the eleven events "coloured on the card" three provided particular interest. In the first "lightning" short handicap distance 5 miles-Mr. N. F. Holder on his 23.8 Vauxhall received 32 seconds start from Mr. L. G. Hornsted's 84.9 Benz and Mr. L. Coatalen's 47.6 Sunbeam of twelve-cylinder fame, which were at scratch. Mr. Holder won very easily by half the length of the straight at an average speed of 92 miles per hour; but the most exciting feature of the race was the tremendous struggle between the Benz and the Sunbeam. The former made the better start and maintained its advantage over the Sunbeam until the finishing line was all but crossed, when Mr. "Dolly" Resta managed to secure second honours by half a bonnet at an average speed for the race of 103 miles an hour. While these two leviathans were running at something over 110 miles per hour they overtook Mr. Percy Allen's 60-h.p. Thames, which was sailing serenely along at the very top of the banking. Both Mr. Hornsted and Mr. Resta were compelled to execute what is known as an "inside dive" down the bank, which hazardous feat they achieved with signal skill and success.

The best finish of the day's sport was seen in the 100 miles per hour long handicap over a distance of 8 miles. Mr. R. Robertson-Shersby-Harvie on his 38.8 Itala drove a magnificent race, and on the home banking in the last lap had overhauled

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all his opponents with the exception of the 15.1 Crespelle, steered by Mr. C. V. Stewart, who had the limit start of 2 minutes 3 seconds. In the straight the Itala came with a roaring rush and won by what looked to me just about the length of his radiator screen. That the merits of the little Crespelle were not fully recognised by the handicappers is evident from the fact that it went within an ace of winning, although 33 seconds had been taken from its original start on account of its former victory.

One of those extraordinary occurrences which add the charm of uncertainty to motor- as to horse-racing was seen in the following race, when Mr. N. F. Holder on a 23.8 Vauxhall literally took the wrong turning when he had a good quarter of a mile lead, and, instead of entering the straight to run home a very easy winner, went up the fork and round the track for a quite superfluous spin. This unfortunate forgetfulness was much regretted by a large number of people who had confided their opinion of his chances to the bookmaking fraternity and were naturally much chagrined at Mr. Holder's aberration. That brilliant young Cantab, Mr. J. W. Read, who drove his own 22.4 Vauxhall, won a fine race from the redoubted Benz (Hornsted up), his speed working out at 83 miles per hour, as against 106 by his formidable opponent. The day was brilliantly fine, the attendance enormous, and the proceedings unmarred by any mishap. The next important meeting will be on Whit-Monday, June 1, when another fine programme is promised.

As one possessed of some considerable knowledge of Australia and its peculiarities in the matter of road construction I have been greatly interested in a very remarkable performance put up by Mr. Murray Aunger on a 25-h.p. Vauxhall car of what is known as the "Prince Henry" type. Mr. Aunger essayed the lowering of the record time between Melbourne and Adelaide, and achieved his object with complete success. The distance covered was 594 miles, and the time occupied as certified by officials of the Australian "A.A." 14 hours 54 minutes. For a considerable part of the journey the "going was through heavy sand, while on other stretches the track was innocent of any approach to surface-making, so that the performance is indeed most meritorious and speaks eloquently of the excellence of the Vauxhall as well as of the steel-studded Dunlop tyres. D. M.

99

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Vauxhall

A

THE

SUPEREXCELLENT

ડા

THE

'25'

BOUT the best introduction you could have to the Vauxhall marque and all that it connotes is a trial drive in the 25' h.p. model. You will discover a machine performing better than cars of other makes, while giving away points in regard to engine size, not to speak of purchase cost and running expenses.

The 25' is the Vauxhall leading line, and as such the focus of special effort, the aim to which is directed very form of endeavour with the view of beating anything that can be brought against it for efficiency, sweet running and Economy.

Drive a Vauxhall and you drive a car not only dis tinguished in name and style, but one which will never expose you to the chagrin of having made an indifferent choice or paid a high price for mere pretentiousness.

The Vauxhall 25 h.p. chassis costs but £480, or with electric-lighting set, £500. It carries with ease a heavy closed body and shows better results, however judged, than bigger cars of other makes.

EIGHTY

first prizes and special awards-the
finest competition performance in 1913.

Catalogue sent on application.

VAUXHALL MOTORS LIMITED 174-182 Great Portland Street, LONDON, W.

IT

INSURANCE.

LONDON AND LANCASHIRE-THE LONDON Life.

T is always unfortunate in these record-worshipping days when an enterprise has to report that in any respect it has done less well than in some previous period. People who merely note that in 1912 the London and Lancashire Life and General issued new policies for an aggregate sum of £1,095,509, while in 1913 the amount was only £808,724, might jump to the conclusion that the institution had suffered a nasty setback. The truth is that 1912 was an exceptional year it was to begin with the London and Lancashire's jubilee, and it is the habit of most offices to make such an occasion memorable; it was also the year in which the Scottish Metropolitan was absorbed, and it was the last year of a quinquennium. These three things in themselves were bound to affect the year's business, and to carry it forward at a pace which it would be difficult to maintain. As a matter of fact, as the chairman explained at the meeting last week, 1913 was a very satisfactory

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year in view of the absence of special circumstances and of the BRITANNIC ASSURANCE CO., LTD.

beginning of a new quinquennium. With a total life premium
income of £414,772, with £137,610 added to the funds of the
life department and with an exceptionally favourable mortality
experience, the London and Lancashire has no cause to look back
upon 1913 with any other feeling than one of entire confidence.
The wonder indeed is that a society which has done so big a
share of new business in one year can come anywhere near it
in the succeeding year. The London and Lancashire issued
over 2,000 new policies in 1912 and over 1,700 in 1913. That
new assurances continue to be taken out in such numbers shows
that, enormous as have been the strides made by insurance offices
in the last few years, the field which remains to be exploited is
still vast.
One trouble the London and Lancashire escaped: it
was not called upon to value its securities at December 31 last
for the purpose of surplus distribution. The heavy depreciation
at that date had been recovered by the first week of April with
the exception of, roughly, a half of 1 per cent. on the funds.
Regarding the fire, accident, and miscellaneous departments there
has been some tendency to criticism in certain quarters, but these
departments are only two or three years old and are making
substantial progress. Another year or so should see them adding
their share to the general prosperity of the company.

Its

The London Life Association is another office whose returns cannot be judged by any superficial glance at mere totals. system of constantly diminishing rates of premium, which has made such strong appeal to people who like to feel their obligations declining, necessarily keeps the expansion of premium income within comparatively narrow limits. The statement therefore that premiums have increased by £8,089 to £404,075 means much more than appears on the surface. The new premiums, single and annual, for the past twelve months totalled £37,828. Notwithstanding the heavy fall in the value of securities the rate of reduction in premium payments was increased by 1 per cent., involving the necessity of making provision for some £37,858--practically the amount of the new premium income. The London Life is especially distinguished by the high rate of interest earned on its funds, amounting to £4 6s. 7d. after deduction of income-tax. At the same time its expenses were kept down to the almost absurdly low percentage of £2 11s. 3d. of income from premiums and interest on investments. The London Life can still claim that it runs its business on lines of economy unapproached by any other life office.

An office which has done so well under this system of premium reduction would, it might be thought, be content to continue to develop its various series-there are now nine of them-without departure into more conventional fields. The association recognises however that the system may not be suited to every case, and the directors show their enterprise by bringing out this year an alternative system of reversionary bonus. The idea of participating in the division of surpluses instead of taking advantages in the way of reduced premiums may bring many into the fold of the London Life who would otherwise go elsewhere, particularly as the association is able to accept low premiums owing to the absence of commissions. A drastic inquiry has been made on the basis of business during the past ten years, with the result that the directors hold out the hope of a compound reversionary bonus of 35s. per cent. per annum and guarantee a minimum of 30s. per cent. each year to June 30, 1925. The terms are very

Business transacted :

ESTABLISHED 1866.

Whole Life, with and without profits.

Endowment Assurances, with and without profits.
House Purchase, in combination with Life Assurance.
PREMIUM RATES TO SUIT ALL CLASSES OF INSURERS.
Total Funds exceed ...
Claims Paid

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£3,550,000 £9,450,000

The Britannic has openings for energetic Agents in all parts of the United
Kingdom.

J. A. JEFFERSON, F.I.A., Secretary.
Chief Offices: BROAD STREET corner, biRMINGHAM.

Prudential Assurance Company,

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EXECUTORS, TRUSTEES, SOLICITORS, AND OWNERS WHO MAY BE
DESIROUS OF SELLING WORKS OF ART, FAMILY JEWEIS, OLD
SILVER, FURNITURE, PICTURES, PRINTS, MINIATURES, CHINA,
COINS, BOOKS, Old Lace, Furs, MUSICAL Instruments, Guns,
AND OTHER Valuables, are informed that Messrs.

KNIGHT, FRANK & RUTLEY'S

SALE ROOMS, 20 HANOVER SQUARE, W. are Open Daily to receive goods intended for disposal. Auctions of Estates and Town Properties and Sales on Owner's premises in all parts of the country are held as required.

BEST PRICES Given for Current Literature in all Branches by HOLMES BROS., 4 Manette Street, London, W. (Many years with Mrs. C. Hindley of Booksellers' Row.)

BANK OF AUSTRALASIA

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tempting. Apparently it is intended to run the new department BOOKS, ANCIENT AND MODERN, BOUGHT, SOLD, AND EXCHANGED.

on self-contained lines; it will be a new business, but a new business with the advantage and security of the funds accumulated during 107 active and prosperous years.

Monthly Catalogues Free.

THOMAS THORP, 93 St. Martin's Lane, W.C.

[And at READING.]

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Cornish Riviera No part of

The

of the British Isles is more richly endowed with noble beauty than the Cornish Riviera in the Spring. A holiday then is one never-tobe-forgotten for its unfading charm. weary town-dweller in search of health and rest, the artistic visitor in quest of worthy subjects for his sketch book, and the sportsman yearning for fresh fields to conquer, will find in Cornwall just what they need -a healthful, equable climate, entrancing scenery, and sport in plenty.

Let "Holiday Haunts" help you to map out
your holiday. This profusely illustrated guide-
book is obtainable at all G.W.R. stations and
offices, price 3d., or from the Superintendent
of the Line, Paddington, London, W., price
6d., post free.

G.W.R. The Holiday Line

FRANK POTTER, General Manager.

Letters to Certain Eminent Authors.

No. 1. Mr. HALL CAINE

APPEARED IN

THE ACADEMY

APRIL 11.

No. 2. Miss MARIE CORELLI

APPEARS IN

THE ACADEMY

THIS WEEK.

No. 3. Mr. ARNOLD BENNETT

WILL APPEAR NEXT WEEK.

The ACADEMY LITERARY COMPETITION (£10 in Prizes) is creating wide interest.

THE ACADEMY, 3d. Weekly.

Publishing Office

ROLLS HOUSE, BREAM'S BUILDINGS, CHANCERY LANE, E.C.

36

36

NEW VOLUMES

NEW VOLUMES

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A FIRST GLANCE AT NEW BOOKS

DRAMA

The Widowing of Mrs. Holroyd: A Drama in Three Acts, by D. H. Lawrence. (Duckworth. 3s. 6d. net.)

Woman and Superwoman: A Comedy of 1963, in Three Acts, by Adam Neave. (Francis Griffiths. Is. 6d. net.)

HISTORY

Hutchinson's History of the Nations, edited by Walter Hutchinson. Illustrated. (Hutchinson. Part VI. 7d. net.)

A popular, concise, pictorial, and authoritative account of each nation from the earliest times to the present day.

NOVELS

Lismoyle, by B. M. Croker. (Hutchinson. 6s.)
Monsignor Villarosa, by the Duke Litta. (Fisher Unwin. 6s.)

POLITICS AND ECONOMICS

Greater Profits From Land: The Secret of Successful Farming, by A. L. Drysdale. Illustrated. (Fisher Unwin. IOS. net.)

A practical treatise on the land, and an exposition of agricultural research, including a complete report of the Dalmeny experiments, with scales of unexhausted manurial values applicable to various systems of farming.

The Truth About Ulster, by F. Frankfort Moore. (Eveleigh Nash 7s. 6d. net)

Illustrated.

Himself an Irishman, with an intimate knowledge of the country, the author gives an interesting account of the past and present condition of Ulster and of the characteristics of the Ulsterman, of whom he says: The true Ulsterman is cautious, suspicious, does not wear his heart upon his sleeve, and is greatly given to minding his own business and sticking to his job until it is finished.'"

The Rights of Capital and Labour and the Duty of the Church, by T. C. E. Green. (Clifton: Baker. 6d.)

REFERENCE BOOKS

The City of London Year Book and Civic Directory for 1914. (Collingridge.)

Includes a full directory of the Corporation and Committees, a guide to the Livery Companies with a list of Liverymen voters, a list of the members of the Guild of Freemen, the names of those who have received the Freedom of the City, and the members of Lloyd's, the Baltic, and the Stock Exchange.

TOPOGRAPHY AND TRAVEL

- Chile: Its Land and People, by Francis J. G. Maitland. Illustrated. (Francis Griffiths. IOS. 6d. net.)

An account of the history, natural features, development, and industrial resources of the country. The author suggests that the twentieth century will probably be known to future students of South American history as "Chile's Century," on account of the progress in every direction that this go-ahead Republic will achieve and to which the Panama Canal will give such a great impetus. Life in an Indian Outpost, by Major Gordon Casserly. Illustrated. (Werner Laurie. 12s. 6d. net.)

Describes the experiences of an officer of the Indian Army while

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stationed at the little fort of Buxa Duar, which guards one of the Lovers of a really good cigarette should try our gates of India on the border of the little-known country of Bhutan. It also commands a pass through the Himalayas into the plains of Eastern Bengal.

MISCELLANEOUS

Marriage Ceremonies in Morocco, by Edward Westermarck. (Macmillan. 12s. net.)

Is intended to supply a deficiency in the author's work on the History of Human Marriage, written over twenty years ago. The present book deals fully with the wedding customs of the Muhamadan natives of Morocco, where the author has spent six years in sociological research.

The Modern Chesterfield: Being a Series of Letters from a Self-made Baronet to his Son, edited by Max Rittenberg. (Hurst and Blackett. 35. 6d. net.)

Royal Auction Bridge, reviewed and explained by (Putnam. 35 6d. net.)

"Badsworth."

Includes the laws of Auction Bridge and some cases and the decisions thereon by the Committee of the Portland Club. Bulletin of the Imperial Institute, January-March, 1914. (Murray. 2s. 6d. net.)

Ghosts in Solid Form, by Gambier Bolton. (Rider. Is. net.)

Describes the results of a series of experiments carried out during a period of seven years in order to discover whether it was possible under certain conditions "to produce, apparently out of nothing, fully formed bodies, inhabited by (presumably) human entities from another sphere."

REPRINTS AND CHEAP ISSUES Letters to Caroline, by Elinor Glyn. (Duckworth. 25. net.) Reprinted from Nash's Magazine.

Pink Purity, by Gertie de S. Wentworth-James. (Werner Laurie. Is. net.)

MESSRS. JACK announce a cheap re-issue of their highly popular "Told to the Children" series. This series was the pioneer of the colour-book for children artistically designed and supplied at a low price. The series at once leapt into popularity owing to the literary excellence of the matter. The editor, Louey Chisholm, undoubtedly possesses a peculiar genius for knowing what will interest children. The new issue is assured of a very wide sale.

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"EGYPTIAN BLEND'

Made from the finest selected tobaccos.
Price 5s. per 100.

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RAYMOND W. SCHUMACHER, Chairman, E. RENAUD, Director.

To the Shareholders of the Rand Mines, Ltd.

We report that we have examined the above Balance Sheet, with the Books, Accounts and Vouchers in Johannesburg for the year, to 31st December, 1913, and with the Accounts received from London, and have obtained all the information and explanations we have required as Auditors. In our opinion such Balance Sheet is properly drawn up so as to exhibit a true and correct view of the state of the Company's affairs, according to the best of our information and the explanations given to us, and as shown by the Books of the Company.

THOS. DOUGLAS, Chartered Accountant.

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Auditors,

1,060,840 I £5,237,593 6

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Sundry Debtors

Dividends to be received on Share.

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