The Sun.
London, England, 1864-12-14 00:00:00

SUN OFFICE, SIX O'CLOCK.

SWITZERLAND.

Consolidated Assurance Company.

- -

The mortality throughout Great Britain has during the
past year exceeded the usual average, and assurance core.
panics have therefore found the claims by death in some de.
gree increased during that period. The number and amount,
however, of claims paid by this company during the past
year are still within the estimated rate of mortality, the
sum being £8,564 lls 5d on 42 policies. assuring 36 lives.
The gross premiums received on discontinued policies
since the formation of the company amount to £54,497 ; and
the gross claims from deaths, including bonuses, during the
same period amount to £48,861. The deed committee and
one of your auditors have, as usual, examined the Com-
pany's securities, compared them with the balances out-
standing on the books of the company, and they have cerii■
fled that they found the same correct. Your directors have
much pleasure in stating that since the last general meet-
ing committees of reference have been formed, composed cf
gentlemen of position and influence, in Liverpool, Man-
chester, and Birmingham ; and they Lope to be enabled to
state, at the next general meeting, the appointment of
similar committees in other principal towns of England and
Scotland, believing them calculated to support the best
interests and advance the prosperity of the com-
pany, With the view to facilitate the forma-
tion of these arrangements they have instructed
their actuary to make a careful valuation of the assets and
liabilities of the company as at the 30th Septen.ber last.
That valuation, with the:report thereon, is published as an
appendix; and the directors believe it will be read with
equal interest and satisfaction by the policy and share-
holders of the company. The directors who retire pur-
suant to the deed of settlement, are Messrs H. J. Gibbins,
W. Blanford, and E. D. Shirtliff ; who, being eligible, offer
themselves for re-election. The directors
,have to report
with sincere regret the death of one of the auditors, viz ,
Mr J, E. Clennell, The auditors. Messrs Appleton and
Arnold, retire ; and, being eligible, offer themselves for re •
election. Mr E, H. Gaisworthy, of 32, York-place, Port-
man-square, being eligible, has given notice of his inten-
tion to offer himself as a candidate for the vacant office of
auditor.—By order of the directors, D. M•GILLIVRAT,
Actuary and Secretary.
To the Chairman and Directors of the Consolidated
Assurance Company.

London, Nov. 29.
Gentlemen,—ln terms of your instructions, I have now
,he honour to submit the results of the valuation of the
assets and liabilities of the Company, as at the 30th of Sep-
tember, 1861. At that date I find, after deducting lapsed
and discontinued assurances, there remained in existence eu
the books 2,596 policies, assuring, with bonuses already de-
clared, £748,349 18s 4d, and yielding an annual revenue of
£24,114 14s id. In making the valuation the greatest care
has been exercised, and every item has been compared and
carefully checked. As in all former valuations the Carlisle
rate of mortality has been adopted, and 3 per cent, has been.
assumed as the rate at which the company's funds will im-
prove. The final results of the several calculations, combintd_
withthe cash assets and liabilities, are as follows :—Asscts
Present value of future premiums, £363,950 Ils 2d—invest -
ments on securities, £86,466 17s Bd—lnterest due on ditto
to 30th September, 1864, £l,443—cash deposited with.
bankers, £3,000--cash on current account with ditto, at.d
stamps on hand, £1,734, 13s 11—L155,595 2s 93. Liabilities :
Present value of sums assured, £352,799 le 3d—reserve for
liability on investments by depositors, re-assurances,
rent, and immediate annuities, £33,306 2s 5,1
shareholders' capital, £19,647 1 ls—interest and dividends
due 30th Sept., 1864, £1,285 7s—claims ascertained, Lut
not due, £2,630 7s Ild. Total, £409,668 9s 7d ; balance,
being assets over liabilities, £45,926 138 2d, I consider the
valuation a very satisfactory one, and I respectfully sug-
gest that with the above figures it would be well to com-
pare and review the results obtained from the last quinquen-
nial valuation made in 1861. It will be seen from that
valuation that a surplus was obtained eufficient for the
declaration of a bonus to the shareholders of £2015a Id l,er
cent. on the sums paid on their shares, over and above 5
per cent. per annum, free of income-tax; and a cash bonus
to the participating policy-holders of 25 per cent, on the
aggregate amount of premiums paid by them in the pre-
vious five years, which was equal to the reversionary
bonus ranging from 21 to 84 per cent. according to age.
The following statistical information may be considered
interesting:---Notwithstanding the c impany has completed
its 18th year, I find the average duration of each policy is
4 years, The average age of persons assured under whole

life policies with profits is 39.073 years, and without profits,
42.817. The rate of interest received on investments dur-
ing the year averages Xi lOs 6d per cent.; and this fact
should be kept in view, when it is considered that only 3 per
cent. has been adopted in the valuation, Had the valuation
been made on the assumption that the funds of the company
would improve at the rate of 4, or even 3f per cent., the
assets over liabilities would have been considerably
increased. Although the claims are heavier than in former
years, I do not consider them excessive ; it so happens that
they have fallen on several policies of large amount. It
must, however, be satisfactory to the directors that they
have been enabled to capitalise upwards of 32 per cent. on
the year's transactions. After satisfying all claims, a,
balance of cash assets remained on the books of the com-
pany, at the 30th September, 1864, equal to 44.782 per cent.
of the entire premiums received on existing policies. In
conclusion, I have to express to you toy congratulations on.
the sound and prosperous state of the company.—I am,
gentlemen, ;your
,obedient servant, 1). ISPLI 11,1,1YR/etc,
Actuary.

The CHAIRMAN, in moving the adoption of the
report, congratulated the meeting on the success of
the society during the year about to close. The
report entered sa minutely into details that nothing
was left him to allude to. However, there was one
important fact not mentioned in the report, and
that was that during the year they had addtd
nearly £B,OOO to the capital.
Mr GALSWORTIIY said he had great pleasure in
seconding the motion.

The resolution was then put to the meeting and
carried unanimously.

The retiring directors were re...elected, and the
proceedings terminated with a cordial vote of
thanks to the chairman and the other officers of the

company.

A CHRISTMAS IMPORTATION.—Mr Thompson,
wholesale fish and fowl dealer, Nottingham, has had con-
signed to him from Quebec a large number of geese. They
came to hand
.in capital preservation after a long voyage ;
many of them weighed from Illb to 141 b eacb,—Nottin
ham Guardian. _

FORBIDDING THE BANNS.-012 Sunday morning

last, when the curate of one of the churches iu
Burslem had read the banns of the day, and made the usual
declaration, "Whosoever knoweth any just cause," &c.,
labouring man rose in the gallery and called out, "I object
to that." The curate, amidst the suppressed titterings of
the congregation, inquired the cause of the otjection, and
was answered in the dialect of the district by, "
daughter, and her inna o' age." The objector Was re-
quested to attend in the vestry at the close of the services.
The objection appeared to Le that the intended bride was
Lut 1G years of ago, while the intended bridegroom was a
widower with a large family.

AN IRON LETTER.—By the last American mail,
a letter, which is remarkable both as a documentary
curiosity and as a specimen of manufacturing skill, was re-
ceived by the Btriningliaon Jou:•nal. It is written on iron
rolled so thin that the sheet is only twice the weight of a
similar
sheet of ordinary note paper. the letter is dated
"South Pittsburg (Pennsylvania), Nov. 6, 1864," and says,
of" Intti
et, the
Atlasnumber
Work,,o your paper dated October 1, 1864,
there is an article setting forth that John Brown and Co.,
Sheffield, had succeeded in rolling
a plate of iron 131 inches thick. I believe that to bo the
thickest plate ever roiled. I send yon this specimen of iron
made at the Sligo Ironworks, Pittsburg. Pennsylvania, as
the thinnest iron ever rolled in the world up to this time,
which iron I challenge all England to surpass for strength
and tenuity. This, I believe, will be the first iron letter
that ever crossed the Atlantic Qccan.—Yours, &c., JOHN C.
EVANS." The iron is said to be of exceedingly fine quality,
and the sheet is by far the thinnest ever seen in this coun-
try. The letter will be deposited in the museum of the Mid-
land Institute. Tested by one of Hot, zappfel's gauges, tl.e
thickness of the sheet is found to be the I,oCoth pat-of en
o-
inch. A sheet of Belgian iron, supposed hitherttobe the
thinnest yet rolled, is the 666th part of an inch thick, and
the thickness of au ordinary sheet of note paper is ab,)ut the
400th part of an inch.

THIRD EDITION.

The two Chambers of the Swiss Federal A93:m.
bly met three days ago to elect the President elf
the Confederation for 1865. M. Shenk, of Berne,
Vice-President of the Federal Council for 1864, was
chosen by 105 votes to 26. M. Kuusel, of Lucern,
was afterwards elected Vice President by 86 TO:efi
to 45.

ANNUAL GENERAL MEETING.—(THIS DAY )
The eighteenth annual general meeting of the
share and policy holders in this company was heid.
this day at the offices of the company, 45, Crit-up,
side; H. J. Gibeins, E-rq , in the chair.
The fol:owing reports from the directors and the
actuary were read to the meeting
In accordance with the rules of the company your dime.
tors present their annual report, with an account of the
receipts and expenditure for the year ending 30th sep'etn-
ber last, by which it will be seen that the income and assets
of 'he company continue steadily to increase.
During the year 585 policies were issued, assuring
162,175, and yielding annual premiums amounting to.
£5,14.1.