Unless otherwise specially announced, the chair will be taken at 6 p.m. at each meeting.

The Council have reason to believe that the following Papers will be communicated to the Institute :—

"The Amendment of the Law of Limited Liability."

By HAROLD BROWN, Esq. (February 5th.)

"The History and Development of Gold Mining in South Africa." By S. F. VAN Oss. (March 4th.)

"Mints and Moneyers of the Anglo-Saxon Period."
By A. H. CHERRY, Esq., Associate of the Institute.

ELECTIONS.

The following were elected at the November meeting of the Council:

First Lecture.-Bills of Lading; character and negotiability.-The two functions of a Bill of Lading.-A document of title in the sense of carrying constructive possession of the goods.-Comparison with Bills of Exchange; and with warehouse certificates, &c.Sets of Bills of Lading; conflicting assignments.-Significance of possession at law.

Second Lecture.-As to certain modern documents analogous to Bills of Lading. Through Bills of Lading. Do they carry constructive possession?-Bills of Lading given by charterers.— Bills of Lading for goods "received for shipment", given before goods received by shipowner.-Are such documents within the Factors Act? or within the Bills of Lading Act?

Third Lecture.-The Bill of Lading as a contract of carriage.-Rights and obligations of a banker holding the B/L, as against the shipowner.-Bills of Lading Act, 1855.-Obligations incurred by taking delivery.-Liens of shipowner.-Effect of reference to a charter-party.-Effect of Statements in the B/L as to the quantity and quality of the goods.-Suggestions as to amendment of the Bills of Lading Act.

Fourth Lecture-Policies and Certificates of Insurance.-Conditions of validity.-Assignments. Rights of assignees.-Extent of indemnity given by ordinary forms of policy.-Perils covered.— Warranties against particular average.-Salvage and general average. Effect of unseaworthiness; or of deviation.

MR. CARVER'S LECTURES.

ON

BANKERS & SHIPPING DOCUMENTS.

EXAMINATION.

THE Examination will take place on Wednesday, January 8th, 1896, in London, at 6.30 p.m., at University College, Gower Street; and in Liverpool, at 7 p.m., at the Bank of Liverpool, Castle Street, Liverpool.

Those who have attended the Lectures, but who are not elected Members till January 1st, 1896, will be eligible for Examination.

Forms of application for membership (which should be returned to the Secretary not later than Tuesday, December 17th), and all information can be obtained at the offices of the Institute.

Intending candidates must send in their names to the Secretary before December 31st, 1895.

N.B.-The fourth Lecture in Liverpool will be delivered on
December 16th.

The Library is now open on Mondays, Tuesdays, Thursdays and Fridays, until 6.30 p.m.

THIS Journal completes Vol. XVI, with the exception of the List of Members, which will be issued in January.

The Institute of Bankers.

DECEMBER, 1895.

THE INAUGURAL ADDRESS OF THE PRESIDENT, HON. H. DUDLEY RYDER.

[Delivered before the Institute, on Wednesday, November 6th, 1895.]

N taking the Chair to-night for the first time as President of this Institute, I must express to you my lively sense of the compliment which you have paid to me in choosing me to succeed to the position occupied successively by many men eminent in the banking profession, and I can only ask for your indulgence for any shortcomings on my part. I I will now, following the example of my predecessors in this Chair, shortly refer to the present position and prospects of our Institute. Our members are still, I am glad to say, on the increase, and this is specially noticeable as regards our Ordinary Members, of whom we have elected no less than 285 since this time last year. There is one form, perhaps, in which some diminution of their numbers might be desirable, that is by those among them who have now attained more responsible positions in the banking world, seeking election to the higher grades of Associates or Fellows, and thus enabling us to hand on in increased measure to their juniors the benefits which they themselves have received from the Institute.

The interest in our Examinations shows no sign of slackening, and the prophecy which our late president ventured to make last November has been amply fulfilled, as the candidates in 1895 numbered 452 as against 362 in 1894. This increase is to some extent accounted for by the addition of French as a voluntary subject, but apart from this there is a gratifying addition to the number of candidates. A further proof of the increasing popularity and prestige of our Examinations is to be found in the fact that so many important educational bodies in London, such as the City of London College, King's College, the Young Men's Christian Association, and others, are establishing courses of lectures specially with a view to the requirements of our candidates. A short notice of some of these lectures was given in our October Journal, and the full prospectuses of them will be found in our Library. No part indeed of the Institute's work shows greater vitality than that which has to do with education. This appears not only in our Annual Examinations, but also in the very great success that attended the

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