The company commenced its work on 1st October, 1865; and the way it has since fulfilled its obligations is worthy of the highest praise. It has shown an honest desire to carry out the sale of spirits in such a way as, while meeting the legitimate wants of the moderate drinkers, shall discourage excess in every possible way. It has consistently attempted to restrict rather than to encourage the trade in liquor. The magistrates have granted it sixty-one licences, but of these it only uses nineteen (although the population of the place is considerably over a hundred thousand) and allows the remainder to lie in abeyance. The law permits public-houses to be open till 10 at night, but the company closes its establishments at from 7:30 to 9 o'clock, according to the season of the year. It has opened five coffee-houses and reading-rooms, where no spirits are sold, and four eating-houses, where none are obtainable except the customary dram at meals. Generally it has shown a wise and patriotic disregard of that policy which would sacrifice everything for a favourable balance sheet. Each public-house is placed under the charge of a manager, who is expressly ordered not to encourage drinking in any way, and is warned that if he does so he will be dismissed. The company at first employed several of the old licensed victuallers and barmen; but before long it had to get rid of all of them, for they were so accustomed to encouraging tippling among their customers that they could not understand a system which forbade their doing it. The managers derive no direct or indirect profits from the sale of spirits beyond their stated salaries; and they have directions not to supply strong drink to young people, to those who show any signs of intoxication, or to those who require several drams in succession, or who pay repeated visits to the public-houses at short intervals for the purpose of drinking. They are not allowed to give any credit for liquor. Besides selling drink, each house has to keep a supply of good hot and cold food, temperance drinks, cigars, and the like. Inspectors are appointed whose sole duty is to see that the managers conduct the trade properly.