The Sun.
London, England, 1852-01-21 00:00:00

THE SUN,

I PROVIDENT CLERKS' ASSOCIATION.

BENEH P UEPART \IEN r.

The annual general meeting of the members of the
Benefit or Lif Assurance Department of the Pro-
vident Clerks' A'sociation was held on ?.41nday
evening at the London Tavern ; Mr. R. H. Jones,
Chairman of the Board of Directors, in the chair.
The following gentlemen were present :—John
Abel Smith, E q., M.P. ; Messrs. J. W. Welch, A.
Dawson, J. Daokaerts, John Clarke, William
Maitland, Richard Price, W. J. Jordon, W. S.
Sawtell, Samuel Jepps, Samuel Lintott, and Samuel
Notley, members of the Board of Management ;
George Thomas, E-q., A. Smee, Esq , &c.
The advertisement convening the meeting having
been read, the report of the directors for the past
year was submitted to the meeting, of which the
following is an abstract:—
"The Board of Al Anagement present in the eleventh
annual report the following details:-
388 Life Policies issued during the past year for 72,8751.
5 Annuities ditto ditto 1291. 15s. 4d.
25 Proposals declined.
79 Proposals deferred, withdrawn, or waiting further
information.
" The annual income from premiums on policies,
together with the dividends on capital, has been in•
creased to 15,3201. After paying during the pact year
2.550/. for claims from deaths the amount of invest-
ment has been increased to 32,500/. Three-and• Half
per Cents.; 4,4501. lent on mortgage; 1701. Bs. lent on
security of policies, making the amount of investment,
32,500/. Three-and-a-Half per Cents.; 4,6201. Bs. on other
security. Amount of claims during the past year from
deaths, 3,500/.
"At a special general meeting held on 22d July, 1851,
important alterations of the rule. were recommended
and adopted by the meeting, which, it is believed, will
prove very advantageous to the society."
The CHAIRMAN, in moving the adoption of the re-
port, said he would only occupy their time a few mo-

ments, because, as they were already aware, for the
sake of economising a great deal of time and labour,
the directors had determined to try the experiment
of holding the two meetings of the association the
same evening.—(Hear, hear.) That object they
had in view in the recent alteration of the rules;
and as it would save a great deal of labour and ex-
pense, if the experiment succeeded, he hoped every
gentleman who purposed to address the meeting
would condense as much as possible what he had to
say.—(Hear, hear.) He was glad, to hear, by the
cheering which followed the report, that the meeting
was fully satisfied with the result of the past
year's proceedings.—(Hear, hear.) It was a
year that was trying to most insurance
companies, and it appeared to be obvious that the
Great Exhibition had something to do with it. If
any one doubted that conclusion, he would show
them a few facts to substantiate it.—(Hear, hear.)
He found that the business of the first four months of

the year amounted to 27,0501., while the business of
the six months during which the Exhibition was open
was only 24,925/., the six months being less than the
four.—(Hear, hear.) In November we began to
pull up again, and the business amounted to 4,7501,
and in December it had reached 16,150/., which cer-

tainly was very gratifying.—(Hear, hear.) Some of
this might be attributed to the alteration of the rules,
but taking the business altogether as it stood, he
thought they might well congratulate themselves
upon the result.—(Hear, hear.) Now, as regards the
alteration of the rules, to which allusion was made in
the report ; it appeared, as was originally contem-
plated, that the alteration would have a beneficial
effect upon the new clerks.—(Hear, hear.) He found
that from July 22d to January in the present year
they had 11,400/. insured by parties who were not
clerks, and when he compared that with the corre-
sponding period of the previous year, he found that
was an excess of 3,650/.—(Hear, hear.) So far, then,
they were going on most satisfactorily, and he thought
it was now high time that they made another push
forward to increase their business.—(Hear, hear.)
They had been extremely cautious and careful
in their proceedings hitherto, and had taken
care not to launch into any extravagances
in the way of expenditure, but he thought now they
were on so safe a footing that a certain amount of
additional expenditure might be judiciously applied,
and it was for them to show by their approbation
whether the directors were correct in their opinion.—
(Hear, hear.) It was quite clear that there was a
certain amount of expenditure which ought to be gone
into to insure an increase of business ; they had
hitherto been extremely cautious in what they had
laid out, and tbey had gone on gradually progressing
while, as they all knew very well, there were offices
incurring an enormous expenditure, without having
as yet any sufficient business to meet it. They, how-
ever, had never done that, they had kept within their
means as the result of their past proceedings would
show, but still, as he said before, there was ample
room for judicious increase iu the expenditure.—
(Hear, hear.) He would particularly direct atten-
tion to the present offices. Every one who had oc-
casion to visit them must see at a glance that they
were totally inadequate to meet the increased business
of the association, or to afford sufficient accommoda-
tion to the clerks.—(Hear, hear.) In fact, they
could not have an additional clerk, as the efficient
discharge of some of the business required, because
they had not room for him.—(Hear, hear.) The
members, therefore, must not be surprised if the
directors shortly tried the experiment of increasing
the expenditure in that direction—(Hear, hear)—
though of course they should be extremely cautious
in what they did, and wait for a fitting opportunity
to make the move.—(Hear, hear.) He did not know
that there was anything more for him to say, and he
would sit down with simply moving the reception of
the report.—(Hear, hear.)
Mr. BELL said that he considered the position
which the association had now assumed would justify
increased expenditure, with the view of bringing it
more prominently under the notice of the public.
He wished particularly to call attention to
the inconvenience of the present offices,
which he thought inadequate for the transaction of the
increased business of the association, and he would also
recommend that the remuneration to the officers of
the establishment should be liberally considered by
the Board of Management.
Mr. Bowsr said, as a country member of the asso-
ciation, accidentally present on that occasion, he
might be permitted to state that he cordially agreed
with the remarks that had fallen from the Chairman
and Mr. Bell, particularly with regard to the manner
in which the business had been conducted ; but it
was his impression, and this was a sentiment which
he had heard uttered by other parties in the country,
that the society was too much of a class character to
obtain the general support of the public. He consi-
dered that greater publicity ought to be given to the
objects and proceedings of the association in some
popular journal. The directors did not advertise
enough. He spoke from experience when he said that
the expense of advertising would be insignificant
compared to the vast amount of business which would
accrue to the association. There was one thing very
much against them, which struck every one with
surprise, but more especially a stranger, coming to
London—he alluded to the situation and appearance
of their office. Many assurance societies had magni-
ficent buildings in the metropolis, though, perhaps,
their business did not warrant them in keeping up
such large establishments; but the Provident Clerks
had a considerable amount of business, and yet they
were obliged to carry it on in very indifferent and
inadequate premises.—(Hear.) He could not call
their office, as Mr. Bell had done, a hole and
corner one, because it was not at a corner, but
there was no denying it had a dingy and gloomy ap-
pearance ; certainly none would be induced to join
the association by looking at the exterior it presented.
Mr. Bown then gave an instance of the great advan-
tages to be obtained by advertising. He had for some
years past been the principal of a boarding school in
gTrwadouoarll
the country, where there were no means of giving it
Publicity ; but though he only commenced with nine
Pupils, by advertising constantly in the papers he
ythsreeceupareednlne excellent connexion. In that
way he became acquainted with his best and most
sincere friends during the last fifteen or twenty years.
the truth of thrnatorstate
spent a little more members on thelf
therefore
u thel testify
directors t o
would have
in advertising he was con-
fident they
themselves on the reasvel ample cause to congratulate
voice would be raisedut
which might be incurred.—(Hear,)
He was sure not a dissen-
tientgedainst the additional ex-
reiaoßttioenli'
(Hear.)
penlksler. LLOYD considered that M
of this with another similar association Bell's
acomparisonuy his
own admission, not based on cot:.
He did not altogether agree with
whator positive data.
had
as to the expenditure, and the state of the been said
they now occupied.
He was not premises
disposed to be nig-
gardly, but on the other hand he had no d •
esire that the
association should possess one of those palaces—those
shells without kernels, which they saw in every street
and corner, and which the last Parliamentary return
of new assurance societies so well exposed, and which
the next return would still further expose. Let them
have a good kernel first, and then the shell would
come by and by. He considered that the statement
as to the increase of the clerks' salaries was very pre-
mature and ill-advised. The directors had acted very
wisely in abstaining from mentioning the subject.
Their attention was called to it at the last meeting,
when they promised that it should receive the earnest
consideration of the board, because it was a matter of
principle that the clerks of clerks should be well paid,
in order that the clerks of principals might be
properly remunerated for their services.—(Cheers.)
They could hardly expect that gentlemen
would labour for them for 401. 501. or a year. The
fact of this being a class •
society was the reason
why the managers, who were clerks themselves,
did their work so well for that money ; beceuse
they knew that they were working for the benefit
of their fellow. clerks —(Hear, bear.) ) They bed
always been actuated by a feeling of brotherhood in
the discharge of their duties, and he believed that

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