The Sun.
London, England, 1852-03-25 00:00:00

THE MERCHANTS' AND TR A. DES-- I. SPORTING INTELLIGENCE.
MEN'S MUTUAL LIFE ASSURANCE NORTHAMPTON RACES.-- WEDNESDAY.
SOCIETY. The Trial Sakes of 10 sov3. each, rePh 4

The fifth annual meeting of the members of this
society Ives held on Thursday, the 18. h of March, at the
offieee in Chatham-plaee, Blackfriara. ,
. John Margreggor, Esq., M.P., presided.
Mr. GEORGE Thosesore (the Manager) read the
re-
port, by which it appeared that the number of policies
for the year endirg Slat Jau. last are ............. •ILB
The amount assured £s4 650 0 0
The premiums oe which are
Since the 31st Jan. last, sixty-one pro-
posals have been passed, amounting to 21,100 0 0
The premiums on which are 720 o 0
And there are before the Board 13 proposals amount-
ing to 6,900 L, the premiums on whioh are 2451. 19s. 9d.,
now in progress of completion.
Making the total number of policies 736 -
The amount assured £216,432 0 0
The annual income of the Society... 7,024 7 4
27 Proposals for 14,1501. have been submitted to the
board during the year which have been declined.
The claims by death, which have been discharged,
amount to 1,6601. and there is one small claim of 4004
which the directors cannot settle, in consequence of there
being different claimants interested in the sum.
The CLIAIRNIAN in a very able statement went over the
different heads of the report, and moved its adoption,
which was carried unanimously.
The resolution having been carried, votes of thanks
to the directors and auditors, and Mr. Hann (an auditor)
in returning cheeks, observed that the directors should
adopt another mode of assurance, which he conceived
would bring them a great deal of business—namely, as-
curing say the payment of 1001. to a person reaching
sixty, no tenefit to be derivable from his payments if he
died before reaching that age.
Mr. A RROWSMITH proposed a complimentary vote of
thanks to the medical officers, the manager, Mr. Thom-
son, the secretary, Mr. Musgrave, and the eget I and
other officers of tee society. They were all elate and
eminent men. Oae of them (Mr. 'Thomson) he was
instrumental in bringing there himself, and be came
with the very highest testimonials from five or six of
the g:-“isi st names in the City. Mr. Musgrave was
an able coadjutor, and he was always glad to see him
at their meetings. It was to him a source of regret
that many persons were dissuaded from assuring their
lives because they were afraid a time might come whet,
they could not keep up their payments, and that they
would lose all the money they had previously paid en
account of a policy of assurance on their lives. Their
condition -might practically illustrate the dream of Pna-
roah, whoselreand _that—taxer:L-lex kin.) were oaten up
by seveu lean kine. Seasons of prosperity and reasons
of adversity were the lot of many' of them. Perhaps
they assured for too much, and if they could not contieue
their premiums, they found themselves in worse hands
than those of a hard-dealing usurer. New it should
be known that the directors of that office gave credit for
premiums, charging only a moderate aura for interest
tortwelve months, in order to give a man time to re-
Cover hitnitelt. It was to correct this evil, so tar as it
affected the varying fortunes of literary men that he had
associated with Charles Dickens and others in the for.
matiun of the " Guild of Literature and Art." And the
" Attie; mom Institute" in Saukville-street was estab-
tablished for a similar purpose. Offices that would not
lend a man 301. or 401 to enable him to rct3intain his
policy for a little while, pursued a dry skin•flme
usurious practice, which could not be too much
reprobated.—(Hear, and laughter.)
Mr. Tuomstne, in returning thanks for the very kind
and flattering manner in which Mr. Arrowamith had
been pleased to refer to his humble services, and that of
his tiiend Mr. Musgrave, said that they had both used
their best exertions, as was their duty, to promote the
interest of the society. With regard to Mr. Arrow-
smith's very judicious observations as to advancing, by
way of credit, one year's premium if 'eclair:A by the
assured, be quite agreed that it was a judicious and
equitable provision, and in that spirit it had been ap-
proved and adopted by the dit ectors. Dr. Bentham's
"suggestion that in no case ought a forfeiture to occur,
such as that described by Mr. Arrowsmith, had also
been anticipated by this society. The Doctor would
find that they had a regulation whereby, after five pre-
miums had been paid, a policy might be surren-
dered, and a new policy granted corresponding to
the value of the one surrendered without payment
of any further premium. As an illustration
of the principle, suppose a person to assure for 1,0001.
for the whole term of life at a premium of 804 and to
pay five premiums. If that person had insured for five
years as a short period policy, he would only have had to
pay about one-half, or 15/.; consequently the other half
is paid against the future and daily increasing risk. Now
this sum would be applied as a simple payment, and a
policy granted accordingly on the surrender of the old
one, and the assured would be precisely in the same posi-
tion, on the satno table, and with all the advantages
proportionably which he ever had. It was, no doubt, an
arbitrary rule to fix on five years as the shortest period
for the conversion, but it was thought that any shorter
time would be too great an inducement to parties to
discontinue their insurances; and it was not the
daty of offices to encourage parties to abandon so
important a provision as that of a life policy.
The regulation had been approved by Professor De
Morgan, as both equitable and judicious. With regard
to Mr. Ilah's proposal to have a table constructed for
endowment assurances, contingent on lives surviving a
given age, be (Mr. Thomson) very much doubted the
propriety of encouraging that principle. Such a mode
of assurance would be a mere gambling speculation. It
;Id invert the very principle and most important use
,le assurance. It would be a speculation on a long
.Jes, but no provision in case of premature death, and
.he vital principle of life assurance was to, provide
against the latter contingency. In the case sirgees:ed,
if the assersd lived to the specified ago he would get the
amount assured, but in the event of his dying before,
his family would lose the benefit of all his payments.
It was a most unsatisfactory speculative mode of as-
suarance, unless combined with a provision to pay to
the representatives in case of death before the given age.
And for this description of endowment assurances the
society had already provided by their Table No. 6.

won

RAILWAY TRAFFIC RETURNS.
LONDON AND NOLTII-WESTERN RAILWAY.—RettIaI of
Traffic for the week ending March 21:—
Passengers, parcels, mails,&c. £22,441 7 8
Merchandise ... ... 17,682 14 11
Cattle .. ... 1,061 14 6

Total £41,183 17 1
Corresponding week last year ... 40,409 16 10
Note.—Tlie returns as published are exclus►ve of the
traffic of the Huddersfield Canal and Shropshire Union, North
Union, Preston and Wyre, South Junction, Manchester and
Buxton, and Buckinghamshire Railways, and of the propor-
tion of traffic deducted under agreement with the North
Staffordshire Company.
THE GRIAT NORTHERN RAILWAY.—(MiIes in work, 2411)
—Return of Traffic for the Week ending March 14, 1852:—
Passengers, parcels, carriages,
horses, dogs, and mails ... £4,626 2 6
Merchandise and minerals ... 6,099 010
Cattle ... 152 10 7

Total .. £10,877 13 11
Corresponding week, 1851 (236 miles):
Passengers, parcels, &c. ... £4,046 14 3
Merchandise, Cattle, &c. 8,821 3 6

Total ... .£7,84 17 9
LONDON AND SOUTH-WESTERN RAILWAY.—AIDOMA of
Traffic for the week ending March 21:—
Passengers ... £6,539 18 1O
Goods ... 2,8:8 9

Total ... £9,359 8 0
Corresponding week last year... 7,969 811
SCOTTL9a CENTRAL ItAmwAr.—Traffic for the Week
ending March 21,1852
Passengers (7,212), parcels, horses,
and carriages ... £784 12 11
Goods, cattle, &c. ... 920 16 9
Total .. 1,705 9 8
Corresponding week in last year... 1,604 4 1
Perth, March 24. 1852.
CHESTER AND HOLYHEAD RAILWAY..—Trafac for the
week ending March 21:—

3de~=

61o; five, Sat Sib; six and
three years old, 6st; lona
pica. ni 131 b. One 'le. (12 Subs.)
Mr. 'Robinson's Glee colt, 3y re • (*Seggle.s) 1
Mr. B.rriss's Trinket, 4y: G. (FSaturan) 2
Mr. J. M. Sta:nley's Clineissr, 5 yrs (.1. Mai-son) 3
Count Bsthvany's The Mork, 'j yrs (Pia:ll,o ) 4
Bettiog-7 tu 4on Clinehr?r, isod 7 to 2 caeli agst
Glee eslt and Triokst. Won e.siiy by teo lingthe;
Clincher, who never showed in the race, a bad third.
.RuLaitihn.slomact€,3,
in.as2secs.
Second year of the Triennial Stakes of 10 soya. each,
for three years•old colts, Bst 71b; fil-
lies, Bst 41b; the second to save his stake, and the win-
ner to pay 5 sots. towards expenses. One mile. 422
• Subs.)
Mr. Greville'o Frantic
Major.Martin!s Convulsion—.
Mr.LoßitcleStEt.ingitgl il_nCtel;nvr'eksn'aPoePnloirapmirdasentsetiacd; 3
•
4
5 o 2 agst Convulsion, 4
to 1 agst Pelopidas, and 10 to 1 aget Piumstesd. Won
in a canter by t wo lengths, Convalsion beatei Plamstesd
by half a length; Pelopidas beaten of£ 'Run inq min.
54 &CCP.
The -Great Northamptonshire Stakes of 25 sous. each,
15 ft, and only 5 if declared &c., with 100 added;
winners extra; ttie second to receive 25 sovs. out of
the stakes, and the se
mist year, and pay 40 sous. towards expenses. Ttio
miles. (100 Subs., 64 of
in::oo:od:biarsceridbao to the race
srs
,561.
6.t 31b
7b51t..5.16..
(Kendall)
Mr. Lord Clifden's Poodle, 3 yrs, 4st slb 1
Mr. William's Chief Justice,s
Mr. Drew's Ballet Girl,
' ......................
Mr. J. Stanley's Teddingtoe,7Bststl3l
S. era...lord's Deride, 7st 51b
Mr. Palmer's Doubt. 6 yrs,
(G. E. Sharp) 0
Count tiattbytory'sJ ffek in the Corner,6st 121 i (Ctorrish) 0
Mr. IL SAbing's linos* Knoll, Est lello (isssaam) 0
Capt. Scott's Me) Day, 6 yrs, 6st .......(Walla) 0
Mr. Tienne's 0 d Rowley, 3 yrs, sst 5 b...(asswco) 0
Mr. Tbompsoo's blood Rosa!, 3 yrs, ssl7•l)(lifolEsrds) 0
Betting-3 to 1 east Chief Justices 7to 2 eget Ted_
dington, 6 to I opt Knouk Knoll, 6 to 1 agst Poodle, a.
to 1 agst Darkie, 9 to 1 apt Ballet Girl, and 15. to s
agst any other.
Won very cleverly by two lengths, a length bßeasowst.
second and third, Teddington a bad fourth, and :hale
fifth. Run in 3 min. 52 sec.
Her Majesty's Plate of 100 guineas; three yrs old, Est
10ib; four, 9 21b; five, 9st 121 b; six and aged, lost
41b. Two miles.
Mr. Stephsnsors's Brother to Willingham (Charlton) 1
Mr. Meiklara's Paddy Bird, 3 yrs ...... ......(Aideroft) 2
Mr. Morris's Vatican, 6 yrs (Fenn) 3
Mr. J. Little's Wbits'one, sged (J. Sharp) 0
Mr. Saxon's Black Doctor, 4 yrs ..,....,.(Abrahams) 0
Mr. Smith's Union Jack, 3 yrs (Hickman) 0
Mr. Armstrong's Sabra, 3 yrs (T. Osborne) 0
Captain Lowtner's Chopkius, 3 yrs (Hammond) 0
Mr. Collier's llambletordan, 8 yrs (Sashimi) 0
Betting-5 to 2 each eget Brother to Weilingham and
the Black Doctor, 4 to 1 agst Paddy Bird, 6 to 1 apt
Cttopkins, Bto 1 agst Sabra. A splendid race between
Brother to Williegnam and Paddy Bird, end won by
ouly a head; Paduy Bird a %soy bad third, and Chop-
kins fourth. The others were stopped inside the dis-
tance. Run in 3 rule. 54 sec.
The Whittlebury Stakes of 10 soya. each, with 100
added. About three-quarters of a mile. (40 Subs.)
Lord Derby's Lonobow, 3 yrs, Bst 81b (F. Butler) 1
Air. Halford's Peppermint, 3 yrs, 9st ...(W. Sharpe) 2
Mr. Drage's Postulant, 2 yr 5........,. ....(Guattr)
Lord Eglinton's Pelopidas, 3 yrs, Bst 11 ib (Marlow) 0
Mr. J. Brown's Dangerous, Bst 816...(Whist,house) 0
Lord Westmiestei's Captious 3 yrs, Bst 51h(Fistman) 2
Mr. Bouverie a Loophole, 3 yrs, Bsr 51b (W. Abdult) 0
Mr. Steeheusoa's St. Crispin (b-b) 41e(Rieltards) 0
Lord Exeter's Vest, 2 yrs, Est llb
Lord Chesterfield's J, mime filly, Est lib, (Ashmeli) 0
Mr. Stevens's Wee Thine, 2 yes, 6st llbs...(Kendall) 0
Mr. W. Harris na c by Crane brook, out of a mare
unknown, 2 yrs, 6st 41b (Wells) 0
Batting-6 to 4 agst LongGraW, sto 2 eget Captious, 7
to 1 agst Postulant, 10 to 1 agst any Other. Captious
jumped off, and led several lengths to the Spencer Post,
where she bolted, and Longbow taking up the running,
won in a canter by three lengthS, Peppermint beaming
Postulant by a head for the second place. Ran in 1 min.
21 see. In consequence of Longbow basing thrown a
plate, this race, which was fix, el for half-past four, did
not come off until nearly half-pass five.
The Pytchley Stakes of 5 sous. each, with 48 added;
three yrs old, Bst 21b; four, 9st 71b; five, 9st 121 b; six,
and aged, lOst llb; mares and maidens four yrs oid
and upwards allowed 31b. Tho winner to be sold for
300 soya, if demanded, and allowances if to be sold for
less. Five furlongs.
Mr. Armstrong's Equal, Est 10lb (1001.) (T. Osborne) 1
Duke of Bedford's Newport, Sat slb (601.) (Pettii) 2
Lord Warwick's Grief; 6 yrs, Bst 1216 (1001) (Crouch) 0
Mr. Gilbert's Rsindeer, 8 t 110 (301 )......(Kitchener) 0
Mr. Magenis'a Foilorn-hopr, car. 7.t 10:b (Flatmeo) 0
Mr. Payne's Cotton Lady, 7st 31b (1501 )...(Charlton) 0
Lord Chesterfield's Eller, 6st 615 (600 ...(Ashmell) 0
Mr. 0 Fen's Welsh Harper. Est 21b (301.) (Wells) 0
Mr. Whiting's Dame Tattle, 6st 3lb (601,)... (Kendall.) 0
Mr. Dickens's Mies Knight, 6st Sib (661) (Rickards) 0
Mr. Sterring's Grand Duchess, szt 13ib ...(Steggles) 0
Lord Cardrop's Scarlet Runner, 4 yrs, 7st 41b (Sly) 0
Bettieg-2 to 1 agst Newport, 4 to 1 egst Forlorn
Hope, 5 to 1 .)gat Equal, and 5 to 1 agst Welsh Harper.
The race from the distance was a match between Equal
and Newport, and was won only by a neck. Hun in 1
min. 7 sec.