The Sun.
London, England, 1855-01-16 00:00:00

855.

THE SUN, LONDON, TUESDAY EVENING, JANUARY 16,

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LA TV INTELLIGENCE.-(THIS DAY.)

COURT OF CHANCERY.

LOCKHART V. REILLY-REILLY V. LOCKH ART.

The arguments in this appeal case, from an order
made by Vice-Caancellor Stuart in May last, were re-
sumed this morning by Mr. Wigram, Q.C., Both par-
ties appealed. It appeared by the will of Thomas Reilly,
dated in 1822, an estate called Westhorpe was settled on
the Reillys, the father being tenant for life, with remain-
der to his first and other sons, and Lockhart and Ellis
were appointed trustees with a power to sell. The estate,
being encumbered with several mortgages, was, with the
assent of Reilly, the tenant fur life, sold to Sir Miles
Nightingale, and after the discharge of the mortgages
there remained a surplus of 8,824/. Of this balance
the trustees, in August, 1834, advanced a sum of
6,8421. as a mortgage on an estate of Colonel Wastie, at
Ludgershall, and the remaining 1,9811. on the mort-
gage of Colonel Wastie's house in Pall-mall, and it was
stated the trustees were influenced in this disposition
of the balance by the fact that Lockhart was the heir-
at-law of Wastie, and Ellis his natural son. After
some time it became desirable to call in these mort-
gages, and a suit for that purpose was instituted
against Mr. Hardy, the executor of Colonel Wastie.
The suit was not prosecuted, and it was stated that
out of that circumstance all the difficulties and compli-
cations of the proceedings had arisen. Hardy entered
into negotiations with the trustees under the pretence of
saving expense, and without having any authority to do
so, he sold the estates of Wastie,-and on receiving a de-
posit of 1,4651., he let the purchasers into possession in
Nov., 1839. Proceedings were taken after some time to
legalise the sales, but before they were brought to a hear-
ing Ellis died, in March, 1845, leaving Lockhart, his co-
trustee, surviving. Inthe meantime the Reillys had neither
principal nor interest, and, after much controversy, the
Vice-Chancellor Knight Bruce made an order for taking
an account of the trust estate, which was followed up by
the order of Vice-Chancellor Stuart declaring the repre-
sentatives of Lockhart and Ellis answerable for all the
deficiencies of the fund, and directing them to pay the
costs of the proceedings in moieties. The bill of Lock-
hart v. Reilly was filed by the trustees against the
cest uiquie trusts for the direction of the Court on the
subject of the trust after the death of Ellis. The bill
of Reilly v. Lockhart was by the tenant in remainder,
to make the trustees responsible for breaches of trust,
and the Vice-ChancellOr directed the trustees to be
allowed all reasonable costs, charges, and expenses in the
discharge of the trust, principally on the ground that
Reilly the elder acquiesced, and that he filed a bill which
he afterwards did not prosecute.
At the time (2 o'clock) of our report leaving the learned
gentleman had not concluded his argument.

BEFORE THE LORDS JUSTICES.
GREENSLADE V. DARE.
The arguments of the Solicitor• General in this case
occupied the court nearly the whole of the day.

(Before Tice•Chancellor Kindersley.)
MONEY V. HONEY.

The question in this case arises on the marriage set-
tlement of Colonel and Mrs. Money. The object of this
suit is to rectify that instrtment, in certain particulars,
so to hare it delivered up to be cancelled.
The Solicitor-General and Mr. Lewin arc for the
plaintiff ; Mr. Glasse, Mr. Swanston, Mr. Bagshawe,
Mr. Daily, Mr. Anderson, Mr. G. L. Russell, Mr. J. V.
Prior, Mr. Speed, Mr. Money, Mr. Bazalgette, Mr.
Caillard, and Mr. Southgate are for the defendants and
other parties interested.
The further arguments in this case was proceeded
with this morph).-

PROVIDENT CLERKS' MUTUAL LIFE ASSUR-
ANCE ASSOCIATION AND BENEVOLENT
FUND.

The fourteenth annual general meeting of the mem-
bers of the Provident Clerks' Mutual Life Assurance
Association was held last night at the London Tavern ;
Mr. B. 11. Jones, chairman of the board of manage-
ment in the chair.

The advertisement convening tho meeting having been
read,

The SECRETARY (Mr. Wm. Thos. Linford) read the
annual report, of which the following is an abstract :

" The Board of Management present the fourteenth
annual report, and refer to the following details of the
continued prosperity of the association :-
517 policies have been issued for £101,320 and
10 annuities for £lO5 7s. 3d.
2) proposals have been declined for
81 do. have been deferred or with-
drawn, or are under consideration ~ 17,400

4,250

623 for

2122,970
"The progress of the association has bean as follows
during the last five years :-
1850 391 policies for £77,150
1851
1852 429 PP
1853 491 If
1854
and the total number of policies issued from the commence-
meat has been 4,225, for 875,4651. The annual income
arising from premiums, &c., now amounts to upwards of
20,000/. _ _
_ _

"The ►mount of claims during the year has been on 29
policies, for 6,3001.
"The balance sheet shows a balance in favour of the
association of 63,5571."

The CHAIRMAN, in moving the adoption of the report,
addressed the meeting somewhat as follows :—Gentle-
men, I had not this pleasure on the last occasion of

your meeting here, as a family affliction prevented my
being present last year, for the first time since the

commencement of this association. (Hear, hear.) I
rejoice, however, to fiad that I am now amongst you
again, because it is a real pleasure to me to be able to
meet you on those anniversaries. It is a pleasure to

me to see old faces, and to congratulate you, which we
are enabled to do on this occasion, upon the steady and
successful progress of the association. (Hear, hear.)
When I reflect and think of the origin of this asso-

ciation, when I recall the first year of its business,
and remember that the first year's income was

only 4781., and that now we can report to
you that we have upwards of 20,0001., when I
remember the few policies that were taken out in that

year, and the struggle we had in the early part of the
association to obtain business, and now see the progres-
sive strides that we are making, I feel great satisfaction

at haying been one of the humble instruments in the for-
mation of the association. (Hear, hear.) I also remem-
ber that we began without a shilling, though we certainly

had high patronage; but in order that no member should

suffer loss in the event of his death, you will remember,
—at least some of you may, for you were present on the
occasion—that we entered into a guarantee of 5,0001. to
meet any possible contingencies that might arise from
the want of funds. Fortunately that guarantee was
never called into exercise. We never had occasion to
resort to it, and we are now, I trust, in so safe and stable
a position as to defy all reasonable expectations of there
ever being any necessity for our resorting to anything
of that sort. You have just heard the report read for
the past:year. To my mind, and I hope it will be to yours,
it is extremely satisfactory. If you take the rate of
mortality, it hasbeen extremely favourable to us through-
out, our career, but in the past year particularly so, and
I attribute that circumstance with very great pleasure
and satisfaction to the skill and attention which your
medical officers have devoted to the interest of the Asso-
ciation. (Hear, hear.) The success of the association
in a great measure has depended upon their judgment,
and to them we certainly do owe a deep debt of gratitude.
(Hear, hear.) As regards the expenditure, gentlemen,
I don't know there is anything to remark upon beyond
the amount that we have expended on our new premises.
Setting aside that item, I perceive, notwithstanding our
increased business the expenditure has not exceeded that
of last year, except in so far as must naturally arise from
the increase in medical fees. (Hear, hear.) Beyond the ;
expense of the premises, then, the expenditure of the
association during the past year, notwithstanding the '
increase in the business, is the same, within a very few
pounds, as it was in the previous year. (Hear, hear.)
As regards our new preuf.ses, you must well remem-
ber how anxious you all were that we should
remove from our former offices ; there was a general
approval of the desire to get out of what was termed
our " hole-and-corner " premises ; and certainly there
was great reason for doing so, inasmuch as the premises
were really of that character as to endanger the health
of our clerks. Indeed one of our medical gentlemen, Dr.
Jones, wrote to me a formal letter to say that unless we
got out of the place he could not answer for the health
of our clerks or the managers themselves, who passed a
considerable portion of their time there ; and thereupon
we determined to avail ourselves of any opportunity
that might offer for effecting a change. We devoted, I
think, eighteen months in searching for new premises in
all parts of the City, or at least in all such parts of it as
were suitable for our business ; but there are those pre-
sent who will bear me out when I say there was nothing

that offered so cheap or so eligible as those we have ob•
tained. (Hear, hear.) No doubt there are many gen-
tlemen present who have seen them ; and though we
certainly have not been in a hurry to obtain them, I
think they will agree with me that they are _respectable-

But we were:not long in finding a gentleman, as you have
heard by the report. Mr. John Abel Smith, with his
uniform kind Le ;;:—whicli has shown itself from the very
foundation of the society down to the present time—
(hear)— uz:(Ll look the bill, and we were present to see
the p tins and Inbour with which he followed it up until
it was successfully handed over to the Lords, and there
placed in the charge of my Lord Monteagle, to
conduct it through that house. (Hear, hear.)
Gentlemen, I cannot say too much of the kindness of
Mr. John Abel Smith. I cieeply regret that he will
not be here this evening, as be is detained in the coun-
try by the illness of a member of his family ; because
had he been present I am sure you would have felt that
too much credit could not have been given to him for
what he has done, while I. am sure you would have
seized upon the occasion to convey to him in the most
marked manner the pleasure and gratitude you feel
towards him for what he has done. (Cheers.) Another
subject which has occupied the attention of your direc-
tors during the past year has bees that of Life Assur-
ance in the Post•office. We found that a scheme was

propounded by the post-office authorities for assuring
the lives of their clerks ; we learned from the printed
paper announcing the scheme that it was contemplated
by Government to pay a portion of the premium in
order to induce the clerk to insure, but the scheme was
limited to offices of forty years' standing, and, there-
fore, it excluded this association. We wondered why

we should be excluded ; we felt that, although we had
not been 40 years in existence, we had yet been 14,
while we were in a position by which we could just

looking, and just such as au association progressing like
this ought to have. (Hear, hear.) I am sure you are
all aware of the necessity to have a fair outside show.
Well, then, in what we had previously there was no ex=

83 safely and as well effect insurances as any oiher
office in London. Nor did we think 40 years' stand-
ing afforded any particular guarantee of safety, and
therefore we wrote to the Postmaster-General to know

,he reason for the exception.

We received, I believe,

a polite reply from his lordship or his secretary, not
acceding, of course, to our proposition that the excep-
tion should be removed ; but we were not satisfied
with the reply, and we addressed a letter to the Lords
of the Treasury on the subject. In that letter we
solicited an interview, requesting their lordships to re-
ceive a deputation ; and after some time had elapsed
we received a letter from the Secretary to the Treasury,
appointing a day to receive the deputation. We in-
formed Mr. John Abel Smith of the fact, and although he
had been at home for several days ill, there he was
at the appointed time and place to introduce us. We had
an interview, which was extremely satisfactory, and we
were told by the Secretary, who had previously read all
our correspondence, that there was much justice in our
claim ; but, although he could not then pledge himself
to anything, he yet promised that the subject should
have his best and serious attention. We subsequently
received a letter from him, informing us that the Post-
office insurances would be open to offices in general, and
therefore doing away with the monopoly which it had
been attempted to establish. How far this change may
benefit us I know not ; but still there is a sympathy in
the Post-office towards this association, and we were
not wanting in our duty to prosecute the matter in the
highest quarters. (Hear, hear.) This, gentlemen,
affords another instance that, however humble this
association may be in the eyes of some, it can
yet command respect in high quarters. (Cheers.)
Gentlemen, you are aware that many insurance offices
have contributed to the Patriotic Fund, and your mana-
gers are unanimous in the opinion that it would be per-
haps advisable that this association should do so too, but
we have deferred doing anything until we had hadithe
pleasure of meeting you this evening. A small sum, no
doubt, would meet the views of the members—perhaps
251.—but still we should prefer to have something like
an expression of approval on the part of the meeting.
Although we do not feel it necessary to call upon you
for a formal approval, we have still thought it best, as
we were about to meet, that you should just give us
something like an approval, or otherwise, before we
contributed to the fund, and if there is no dissent we
shall carryout what I have mentioned. Now, gentlemen,
in conclusion, let me again remind you that we have shown
a very satisfactory statement of our affairs, and what we
(the directors) have done, I call upon you to do. (Hear,
hear.) Scarcely any one present would credit what he
. .

can do if he will but try. If every one now present
would exert himself to bring au additional member to
the association during the next year au immense deal
. .

sufficient to show the feeling which he entertained with
regard to Mr. John Abel Smith. (Hear, hear.)
The resolution was carried by acclamation.
Thanks were given to the staff of clerks, and the busi-
ness of this department ended in a resolution to give 251.
to the Patriotic Fund.

of good would be effected ; but if that were done
throughout the length and breadth of the land, why
there would be no end to our buineis. Nor am I ask-
ing you to accomplish too much, for surely amongst
your friends and relatives you can find, I daresay one
new member. Until we try we cannot tell what can
be done ; but by perseverance all difficulties ha the
matter could be overcome, and depend upon it you
would succeed even to a greater extent than I have
ventured to anticipate. (Hear, hear.) I wish I could
find language sufficiently strong to impress upon you
what I feel myself upon the point, but I hope the
warmth with which I speak will give you some
indication of the feelings I have in my heart.
(Loud Cheers.) You have, in your trustees, gen-
tlemen of the highest respectability. You have an
able board of management, heartily devoted to your in-
terest. You have an energetic and efficient secretary.
Von have a willing staff of clerks and officials, and you
have, finally, a set of premises that are worthy of the
association. All then that is wanted now to complete
the success of the society is your united co-operation.
With that we shall accomplish everything ; without it
our success can only be partial. But, I am sure, we
may rely upon pour aid and assistance, and then next
year, instead of 100,0001. we shall have a capital of
200,0001. to announce to you. (Hear, hear.) lam ex-
ceedingly obliged to you for the courtesy and attention
with which you have listened to me ; but, before I sit
down, give me leave to say, which I do with the most un-
feigned regret, that your deputy chairman, who
was here last year, is compelled to be absent to-
night. He has had a long and painful illness,
resulting from rheumatic fever, but from the letters
I have received from him to-day I have no doubt his
heart is with you, and that he is thinking of our pro-
ceedings at this present moment. (Hear, hear.) The
chairman concluded by moving the adoption of the
report. - - -

A good deal of discussion followed ; some members
urged that the balance sheet should be printed and cir-
culated amongst them some time previous to the annual
meeting ; but the secretary stated that this would cost
about 401., there being 4,000 members. The chairman
promised, however, that some method should be de-
vised of making the members acquainted with the ac-
counts before the annual meeting. It was also sug-
gested that this association should undertake to pro-
vide guarantees for its members, en the plan of the
Times Association ; but the chairman answered that
there was no power to do so. A. question was asked
about the costs of obtaining the Act of Parliament, and
the chairman stated that those expenses would have
been 1,0001. in the case of a private bill, but the ex-
pense of the bill they had got would be under 1001. The
exact amount was not settled, but it would be divided
amongst five parties.
Mr. J. It. LLOYD spoke of the premises taken by the
managers, at No. 15, Noorgate street; the rent would
be 600 guineas a year, and he did not think the accom-
modation was the best they could have got for the
money. He suggested that they should not be treated
as finality premises, but that a sub-committee should be
appointed to consider the subject for the future.
Mr. BELL said the value of the premises might be
gathered from the fact that the managers had been
offred 1,0001. for their bargain. (Hear, hear.)
The report was then adopted unanimously.
_ _

ternal inducement for anybody to enter our offices; bu
now I think no one need be ashamed of the premises
we have. I have only one other observation to make
in connection with this subject, and that is this : the
cost of these new premises will be provided for annually
during the lease ; that is, I think, a fair way of meeting
it, because the cost will go as a portion of the expendi-
ture of the year, as you now see it in the account before
you. (Cheers.) I feel a little delicacy in this point,
but I can assure you the managers—l am unfortunately
obliged to include myself—deserve every possible credit
for the trouble, labour, and anxiety they have shown in
•btaining these promises. It is only duo to them to say
this much, and I sincerely hope there is no one present
who will not approve of what has been done. (Hear,
hear.) Gentlemen, the report alludes to a special Act
of Parliament which we have obtained. You are all
aware how year after year we had been annoyed and
vexed by the continual interferences of the Legislaturo
—not designedly directed against this association, but
necessarily including it—as affecting friendly societies
generally, and these interferences had been a source of
great annoyance to us. Last session, however, Mr.
Sotheron introduced another bill on the subject, but,
with all his anxiety and desire to exclude us from its
operation, he yet could not do so without making his
bill a most complicated measure. And here again ysur
managers have had, session after session, to look vigi-
lantly.after the interest of the association. They have
had to watch with no small anxiety and care the pro-
gress of legislation on friendly societies, or many bills
would have slipt through without amendment or exami-
nation if they had not kept their eyes upon them.
Well, then, it being found impossible, during the last
session, to provide exceptionally for the association in
Mr. Sotheron's bill, your managers called a meeting of
those parties who were especially interested in the mat-
ter, namely—Mr. Marsh, of the National Provident ;
the Rev. Mr. Hodgson, of the Clergy Mutual ; and
Mr. Ackroyd, of the Leeds Provident, who, with Mr.
John. Abel Smith, treasurer of the Provident Clerks'
Association, attended the meeting, when it was de-
cided that the simplest way, if it were possible, would
be to obtain a bill for ourselves. The time, however,
for passing a private bill, and it was almost hope!ess to
expect to pass a public bill, but still I said there was
nothing like trying, and I got their consent to prepare
a bill. I am happy to say our own solicitor, Mr.
Richardson, who sits to my left, had the pleasure of
preparing that bill, which finally passed. (Hear, hear.)
It puts us in an extremely satisfactory position as com-
pared with our former situation of annoyance. Under
its provisions the association has the widest power of
investing their funds ; of making every legal description
of life assurance ; we are relieved from the necessity of
snaking onerous returns, or of submitting rules to the
registrars, and we can now make our own rules without
being questioned ; we have the power of settling disputes
with members extended, while we are not to be affected
by any future legislation on friendly societies ; we have
hare still the sight of nomination as to policies effected
before the act abolishing that right, andthe limited lia-
bility of members remains unaltered. These are i.m•
portant concessions to obtain, and yet we have all the
powers of any insurance office in London as well.
(Hear.) Gentlemen, here again I must do justice to my
colleagues, because, but for their perseVerance, I really
can't say that this bill would have passed. I know I am
speaking of myself in saying so, but it is really due to
them to make this observation, because no gentleman
can have an idea of the labour that has been endured
during the last year on the part of the board of ma-
nagement. (Hear, hear.) Gentlemen, we did our part
in the business ; but we could only go to a certain ex-
I tent, and when we had prepared the bill, it became ne.
cessary to get somebody to undertake it in Parliament,

Mr. REYNOLDS moved a vote of thanks to the Board
of Management for the able and efficient manner in
which they had conducted the business of the association
during the past year. Men more devoted to their work
or of more practical or business like habits he did not
know. Coupled with the vote was a proposition that
the remuneration of the directors should bo increased
from five hundred guineas to seven hundred guineas.
The resolution was seconded by Mr. MINTON and
ca Tied unanimously.
The CHAIRMAN, in acknowledging the compliment,
said the directors felt more flattered by the kind expres-
sions which had been used towards them than by the
sun which had been voted to them.
On the motion of Mr. JEPPS, seconded by Mr.
LINTOTT, a vote of thanks was passed to the medical

office's.
Mr. SMEE said, in the absence of his colleague, it
deolved upon him to thank the meeting for the honour
they had done theta. He was happy to state that
the mortality during the past year had been unprece-
dentedly low. It was a most extraordinary circum-
stance that the mortality of this year of death and

epidemic had actually not exceeded '7 per cent.
upon the amount of the ages of this society, which
was smaller than the calculations upon which
the tables were founded. Connected as he was with
an institution having the largest body of clerks in the
world, he naturally looked with considerable interest
upon the office he held in the society, and he had
done all in his humble power to promote its prospe-
rity. When they spoke of the low mortality, they
ought to look for the cause which had led to it, be-
cause it had been ascertained by the most eminent
actuaries, that the lives of those to whom this associa-
tion peculiarly addressed itself were not of the longest.
Wel!, then, he believed the secret of their success was

attributable in many respects to the individual members
themselves. (Hear, hear.) In the first place, there
could be no questio❑ that those who were assured in
this association were strictly temperate in their habits,
and he found by experience that temperance was one of
those things which led most to longevity. (Hear, hear,)
Secondly, those insured in the association were men of
careful as well as temperate habits, being well to do in
the world, and it was due to no other cause but those
that the mortality of the past year had been so low.
The retiring directors, Mr. Alexander Dawson, Mr.
Samuel Jepps, Mr. James Lintot, and Mr. H. Price,
were re-elected. The auditors were also re-elected, and
their remuneration fixed at 20 guineas.
A vote of thanks was passed to the Secretary.
Mr. LINFORD, in returning thanks, said he had come
amongst them to-night almost as a stranger, expecting
to have no more than the routine duties of his office to
perform, but he hoped the future would show that his
utmost abilities should be devoted to serve and pro-
mote the interests of the institution. (Cheers.)
Mr. REED said the name of Mr. John Abel Smith had
been frequently mentioned in the.course of the evening,
and it must be dear to them all in connection with this
association. He thought it would only be a grateful
act on the part of the meeting to testify its sense of the
services which that gentlemaa had rendered the institu-
tion, by passing a vote of thanks to him, and ho begged,
therefore, to move one accordingly. (Cheers.)
Mr. GOSBELL had very great pleasure in seconding
the resolution.
The CHAIRMAN, in putting the resolution, said he
should not have forgotten the name of Mr. John Abel
Smith when they came to the next department ; but,
perhaps, it was as well that the resolution had come
here, The few observations he had already made were