ROYAL EXCHANGE ASSURANCE.

INCORPORATED A.D. 1720.

For FIRE, LIFE, SEA, ACCIDENTS & EMPLOYERS' LIABILITY.

Governor Sir NEVILE LUBBOCK, K.C.M.G.

Sub-Governor: C. SEYMOUR GRENFELL, Esq. Deputy-Governor : M. G. MEGAW, Esq.

The Right of Translation and Reproduction is Reserved.