The Sun.
London, England, 1864-02-25 00:00:00

Provident Clerks' Benevolent Fund,

ANNUAL MEETING.

The twenty-third annual meeting of the sub-
scribers to the meritorious fund, which is in connec-
tion with the Provident Clerks' Life Assurance As-
sociation, was held last night at the London Tavern,
Bishopegate-street. John Abel Smith, Esq., M.P.,
treasurer of the Fund, presided.
The following is the annual report, which was
read by Mr. W. T. Linford:—
The Board of Management have much pleasure in pre-
senting to the members and friends of the fund their 23d
annual report, and in congratulating them on the continued
prosperous condition of the institution. The income of the
year 1833 was as follows ;--F rem annual subscriptions,
£997 4s; life ditto, 421 ; annual subscriptions of ss. Lad
upwards from members being clerks, £Bl7 83 ; donations,
£390 5s 62 ; interest, dividends, So., £l,OBl 16c 42 :
the Provident Clerks' Mutual Life Association, being
the proportion of :bonus to December 31, 1862, £3,049;
total, £3,056 13s 101 The last-named item, v:z., the bonus
from life assurance, will doubtless afford great satisfaction
to the members, evincing, as it does, how completely the
two institutions mutually act and react to the benefit of
each other, and affording to the board at these divisions the
opportunity of largely increasing the list of annuitants.
By the very handsome contribution made from this source
on the present occasion, the assets of the funds are in-
creased to £21,868. The sum of £225 15s 63 has been dis-
tributed in gratuities during past year. Pursuant to the
resolution of the last annual general meeting, an election
of annuitants took place, on the 28th May last, when the fol-
lowing were elected, viz, :—One clerk to an annuity of £35,
ono clerk to an annuity of £3O, four widows to annuities of
£2O each, two widows to annuities of £l5 each ; making a
total of £175 per annum, Five annuitants having died
during the year, viz., four clerks and one widow, and one
annuity has been relinquished by a widow, whose cir-
cumstances no longer require it. There were on
the fund on the 31st of December last 65 annui-
tants, who were receiving collectively £1,195 per annum,
The board now recommend that 12 additional annuitants,
viz., 4 clerks and 8 widows of clerks, be elected. A resolu-
tion to the above effect will be submitted to the meeting.
The board have deemed it advisable 'to seek for two other
gentlemen, in addition to those at present appointed audi-
tors; and they have been so fortunate as to secure the ser-
vices iu that capacity of William Sander Higley, Esq.,
manager of the London and Westminster Bank, Lothbury,
and James Gray, Esq., Chief Accountant to the London
and County Bank. The above gentlemen having kindly
consented to act, have been provisionally appointed by the
board, and their election, in accordance with the rules, will
be submitted for confirmation at this meeting The board
cannot close this report without expressing the pleasure it
affords them thus largely to increase the number of annui-
tants. To the merchants and bankers of London especially
the fund is deeply indebted for their generous and valuable
support, to which the increased subscription list of the last
two years years ample testimony. Many new and impor-
tant mercantile establishments have arisen during the last
few years, and the board hope to see the means of the fund
still further increased from this source—but they cannot
lose sight of the fact that the true strength of the fund
should be found in the contributions of the clerks them-
selves,—not only of those to whom the benefits conferred
by the fund are of serious moment, but of those whd are
themselves removed by Providence from the fear of indi-
gence, and to whom their less fortunate brethren have a
right to look for sympathy and assistance in their hour of
need.

The CHAIRMAN said it was a very agreeable duty
to ask the members then assembled to receive and
adopt the gratifying report just read, and he was
sure they would all participate in the pleasurable
feelings with which he was then impressed, in living
to see the Provident Clerks' Benevolent Association
make so great an advancement. (Hear, hear.) He
must, however, say that he was sorry the clerks of
this great commercial country did not help themselves
as they ought,and no one was more convinced than he
was, that it did not receive the cordial and general
support its intrinsic merits entitled it to. He would
not say one word of these to whom a guinea was
an object, but he felt there were many, and a very
great many, to whom that sum was quite insignifi-
cant who withheld their subscriptions from the
fund. (Hear, hear.) Many a clerk in the pursuit
of pleasure did not grudge to give five guineas for
a dinner at the Star and Garter at Richmond, yet
they did grudge to give one to the Benevolent
Fund, whose aim and object was to assist and re-
lieve their brethren in times of difficulty and
misfortune. It could not be because there was no
merit in the institution, or that an ill-feeling
existed against them, but there appeared to be a
reluctance on the part of many in a position to help
the association, which was not at all praiseworthy.
If he knew how to excite the benevolence of
those who yet withheld their support, he should
be only too happy to do so, but the great difficulty
was that he did not know how to get at them, and
if there were any present that evening who were in
a better position with respect to those of whom he
spoke they were at perfect liberty to represent his
feelings to them. (Hear, hear.) The Association
had in it all that was good and praiseworthy, and
having these elements it ought to take its proper
position amongst those admirable institutions which
were an honour to the English nation. (Hear, hear.)
When it was first established he knew its founda-
tion was sound, and it did give him infinite pleasure
to find that since that period it had steadily pro-
gressed until its income amounted to over 13,000
per annum. Those who had contributed to this
beneficent end he was sure would feel adequately
rewarded by the reflection of the good they had
done and the good they were doing, and not-
withstanding the god-send they had received
from the Provident Clerks' Life Assurance
Association, he hoped
they would all continue
to labour for the prosperity of an institution whose
object was so pure and praiseworthy. (Cheers.)
The notion of tb.e chairman having bean seconded,
it was put to the meeting
and carried unanimously.
The CHAIRMAN said, in order to avoid any diffi-
culty that might arise from the absence at any time
of the gentlemen who kindly acted as auditors, the
directors had elected two additional gentlemen who
had given their valuable support to the institution
—viz., William Sanders
Higley, Esq., manager of
the London and Westminster Bank, Lothbury, and
James Gray, Esq., chief accountant of the London
and County B ink. The directors had given them a
most satisfactory report, and he felt certain the
meeting would feel it a pleasure in confirming an
act of theirs—viz., the election of Mr. Higley and
Mr. Gray as auditors.

The motion was carried unanimously.
Mr. R. H. JONES, chairman of the fund, moved
a resolution to the effect that, on the 26th of May,
or some other day to be appointed, 12 additional
annuitants—viz., four clerks and eight widows—
be added to those already on the fund. He
said the success that had attended them during the
past year had enabled them to make the great addi-
tion to the list of annuitants mentioned in the reso-
lution. It was a gratification to ask them to
assent to such a proposition, and he was certain they
He had drawn out a few statistics to read to them.
but he would refrain frma doing so, and simply tell
would sanction the preposition of the directors:
them that in 10 years they had
doubled their capi-
tal—(hear, hear)—that since the commencement
they had given £11,500 to 93 annuitants, that they
had given gratuities of £2,00`) and upwards to
others, that they had lent
£35,000 amongst 1790
members, and that they had lost but aboutl9 per
cent. in the repayments. (Hear, hear.)
Mr. WELCH, deputy chairman, said it was with
the utmost pleasure he seconded the resolution,
because he felt it would give comfort and happi-
ness to those really deserving it. He regretted
that the leading clerks of the country abstained
from giving them their support
; and although he
had frequently appealed to those holding high
positions, he often failed in getting the guinea.
He regretted the small amount they re-
ceived in annual subscriptions,
but he hoped
they would increase. He could nut tell why it
was, but it was a fact notwithstanding, that
scarcely one of the names of those charitable persons
in the higher classes of society appeared in their
list. He was quite at a loss to account for such a
circumstance, because clerks were concerned in
obtaining luxuries from all parts of the world,
which were considered necessary to the e ffluent.
Another claim he thought the clerks had upon the
public generally for support was, the large amount
they contributed amongst themselves for the relief
and support of their more unfortunate brethren.
The CHAIRMAN said it was a very agreeable duty
to put the resolution to the meeting. He was not
quite cure he agreed with Mr. Welch in his obser-
vations relative to the absence of the names of the
charitable aristocracy from their lists. (Hear, hear.)
He looked upon that already achieved with very