The Express.
London, England, 1853-05-12 00:00:00

LEGAL AND COMMERCIAL LIFE
ASSURANCE.

The seventh annual general meeting of the mem-
bers of this society was held yesterday at the offices, Cheap-
side—Mr. Alderman LAWRENCE in the chair.
Mr. FARRELL, the secretary of the society, read the re-
port, of which the following contains the principal points :
" In presenting the report of our past year's business the
directors have to announce the transfer to this society of
the business of the London and Provincial Joint Stock
Assurance Company. The business of that company had
been conducted with great care and discretion for a period
of five years; and although not of sufficient magnitude to
defray the expenses of separate management, the conditions
on which the directors take it render it a valuable and pro-
fitable addition to the business of this company, inasmuch
as very little additional expense of management will be
caused thereby. The total number of policies issued by this
society from its commencement to the 31st December, 1852,
has been 1,456, assuring the amount of 557,820/., of which
there remained in force at the end of that period 1,001
policies, assuring the amount of 381,4841. The amount of
premiums received during the past year was 13,1541. 14s.
3d., and the income from premiums and interest was
14,432!. 17s. lld. During the past year the amount of
new premiums was 4,2031. 84. Bd., and the number of new
nolietes effected 226. Ihe number of loan transactions was
33, amounting to 5,4351. The mart of claims by deaths
in the past year was 3,039/. 104. The amount of claims
from the commencement of the society to the 31st of

December last bas been, with bonuses, 10,950/. ; the
amount that might bane been' expected as estimated
by the Equitable experience rate of mortality, is 17,0001.,
showing the total amount of actual claims to be under the
fairly estimated amount by the sum of 6,0501. The total
amount of premiums received on policies lapsed by death
and otherwise is 8,2421., showing a difference between the
claims paid, 10,9501., to be only 2,7051, without taking
interest Into account. The sum of 6,2901. has been added
to the general fund. The income of the company from
renewals and new premiums during the four months of the
current year has been 5,5161. 4s. 42. The directors beg to
press upon you the fact that persoas assuring in this office
during the present year will be entitled to participate in
the division of profits to be declared at the end of the com-
pany's next quinquennial period, in December, 1855; and
the members who have participated already in the bor.us of
$5 per cent., declared to the end of 1850, have a profpect of
a further considerable addition at that division. It ap-
peared from the balance-sheet that the balance in hand on
the 21st December, 1851, was 25,7741., and the receipts
during the year were 14,4831., making a total of 40,2571.
The balance on the 31st December, 1852, was 31,90 W."
The CHAIRMAN thought that the state and prospects
of the society were calculated to afford satisfaction, and he
had only to move that the report be adopted.
Mr. T. B. Co: secocded the motion, which was carried
unanimously.
Messrs. Shepperd, Sympson, Yenning, and White, the
outgoing directors, were re-elected.
A PROPRIETOR moved that a 4 per cent. dividend, as
heretofore, be made. . . .

Mr. TAiixix said he did not rise for the purpose of
moving en amendment, but he thought that the directors
were in a position safely to declare a larger dividend than
4 per cent. Their capital had iecreased from 2.5,0001. to
31,0001., making a difference of 6,0001., and the increase
on premiums was 3,0001. He hoped that next year the
dividend would be 5 per cent. at least. Probably the di-
rectors were looking to the time when they would giro the
proprietors a handsome bonus.
Mr. Blown hoped that the directors would not increase
the dividend till after the next division of profits.
Mr. Alderman FINNIS concurred in the view of the last
speaker. The public would have greater confidence in
them when they found that they were so cautious. (Hear.)
The motion then paned. Votes of thanks were passed
to the directors, the auditor,, the actuary, and the chairman.