The Sun.
London, England, 1864-03-19 00:00:00

British Equitable Assurance Company,

ANNUAL MEETING.
The ordinary annual general meeting of the share ona
policy holders in this company was held yesterday afternoon
at the offices of the company, 47 and 48, King 'William:
street, London-bridge. 'William Gover, "Esq., chairman 01

the company, presided.
The minutes of the last meeting have been read and
confirmed.
The MANAGING DIRECTOR read the following report:
The new business of last year has been considerabl
larger in amount than in any preceding year. It has 1:)egli
taken with the greatest caution, and consists of a very his
selection of lives.
The care exercised in former years in the selection of list
hap again been manifested by a much lower rate of mortality
than that provided for by the Company's tables.
1,583 new policies have been issued during the past yeti
for assurances representing £252,015. The new annti'
premium income thereon amounting to over £3,000. re
The new lite proposals received during the last year we
2,334 for £357,025 ; 75, per cent. of which have bevel!,
policies, and a large number of proposals are under Ce''
sideration by the board at the present time.
igite/
The progress of the new business of the company d
the triennial period just ended is shewn. by the f
lowing
Years. Policies issued.
No. Amount.
1861 .. 1,091 .. £177,075
1862 .. 1,267 .. 2,0,267
1863
in .. 1,583 .. 252,015 .„
The regular crease of each year's new business will
noted.
£8,769 16s. 7d. have been paid in the year for destil
claims and bonuses ssured under p.
From the foundation of the companyolicies till the present ti
leel
the total sum paid for death claims and bonuses has b
£31,454 6s. 3d_, distributed over 216 policies. tisg
A comparison of the three triennial periods ternsina.,oo
with each division of profits made by the comps*, 111"
most satisfactory results.

New Policies issued.
No. Amount.
First 3 years 3,196 .. £507,060
Second 3 years
Third 3 years
Total 9 years
The periodical valuation has been made by the oc":,-, to
and it appears that after setting aside an ample reeer,e-bis
meet future expenses, as well as providing for every
and
lit yof the company under its policies and otherwise, a
making a hill allowance for bad debts' &c., there reroi339
surplus as follows :
From the non-participating business divisible by
`
shareholders, £1,836 2s ld, and from the mutual buelrl
£12,108 9s 81, available for the policyholders.
It is recommended that a reversionary bonus of el
cent, per annum up to the 31st day of December laA frto
°
the date of the last division of profits as to Policies poi'
participated in any previous division, and to as ahY eof
cies which did not so participate from the Ist d°,7„ii,
January next following the respective dates of such "eat
cies, be declared on ail Policies in the Mutual Departyloe
effected for the whole term of life, dated on or before 00
31st day of December, 1861, which shall be in 1(01'01
the let day of April next, and on other business ent'Ae
to participate in a due proportion, to be settled by th.ace
tuary, and that the remainder be carried to the next di
seed
of profits. This will lay the foundation for an inere6ool
dividend at future triennial periods. Also, that the suti4B
£1,836 2s. id., being the profits on the non-partielqt, of
business, be capitalised, making altogether to the cree'oo
the shareholders' profits account £5,540 6s. Id., and el'
3e. 6d. per share per annum be paid, in addition to th9bee
ginal interest, on each share on which the first call WO
tully paid up. eofe
Considerable ate ration has been devoted to the imp-010
ment of the internal working of the company, and 7,01
the body of agents has been largely increased, the eill'lllo
of balances due by agents is smaller in proportion t°
business done than at any former period.
1)19
The agency staff contains a body of highly reBpe°oll
men, distinguished by great personal energy and of
increasing influence.
Whsile the directors have to thank a great number 000
shareholders and policyholders for valuable co-eperatift°,o
extending the company's business, they think thatm"efiii%
more should be accomplished in that direction, oens'"„io,,
th© vast number of p( lice holders, it being most er"es,''
tally true that every additional policy decreases the 'tor,
amount of expense, yields a broader basis for a true o",f
of mortality, and increases the profits participated ill "#
policyholders. garof
The directors have made an alteration of the n 1511,11
remuneration. which they think will meet the apPr°
the. shareholders. .41°5
It may be observed that the profits from the non- 4r
pating business, without taking one penny from the 19idef:i
policyholders' profits, have increased the shareh°,ooi
profits thus early in the history of the compavy to ao hi% of
revenue of 8.1 paid
per cent. on the amount up on
t"
ginal shares.
The CHAIRMAN said it was with more than an ors
feeling of pleasure he met the share and policy hehler°oo
day, because the success that had attended the eperiitl,,,
of the society during the past year had been greote"o49:,
any of the preceding ones. The report entered 13°.44
into detail that he would not occupy their time at el3l,,rer
length, but he could not help referring to the great jos'aate
that had taken place in their new business. It Wore
mistakably the high estimation in which the comp 1
iLlrobli
held by the public, and also spoke most ",
for the activity that had been displayed by
cerned in the extension of its operations- tea
hear). The periodical valuations had reetlii ; •
another very pleasing fact, viz., that after ree/,.oeti,
and ample allowance for bad debts, &c., there reelP(ele,!
handsome surplus to divide amongst the members.
hear.) The Government Annuities Bill had created;oc;
interest in life assurance companies, and although the of ell
of Mr. Gladstone was looked upon as a great displai r tlOl
quence, to him (the chairman) it seemed quite ie,%l/:$
the Chancellor of the Exchequer knew but very lit
°,
°_ Ate
life assurance matters. (Hear, hear.) He did pre
upon the measure with any alarm, because thew, 00;0
Equitable was in a position to hold its own ; and the Af°
offices that would feel the effects of the measure We' (It'd
whose foundations were not of a solid descriptioo'
hear.) He had great pleasure in moving the ad°F
the report just read to them. A O
The motion having been seconded, was cae.rie'•
tIIB
mously. 064,1
Resolutions were unanimously agreed to, re-o'e .0009 e
retiring directors, with thanks for their past es°r;iligaire,,,:i
a special vote of thanks was awarded to the meneg'vocle°'
tor for the ability and prudence with which he e°
the business of the office. ntied
Mr. W. S. GOVER, in acknowledging the C 01704601
said ho felt extremely gratified in receiving the
‘: teo
the meeting. He had but one object in view,al3" held
to enlarge the operations and extend the benegi°
by the British Equitable Life Assurance SocietY• Or
The proceedings terminated with a cordial vote

Some of our newspapers seem to b e
puzzled by the connexion of M. Mar7in" esc
correspondent terrible in the imagi4n'aitilown. t_l./118011-1:0.:01
police. A little knowledge of street Italians
_0,0101,e
hear daily cn the Lung:FAlorlayoeroor the
their doubts at rest.
lish for " Mazzini ;" " Mazza di fi. o sort' th of e
street Itst't:
cut down to " Mazza," meaning a bunch of floWer ,e'te'r.
gay;\l,a z zainnid
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unquestionablyz ' alittl
tehneo
pseegrsa
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noargosi:Zer:s;cl-
- E e ZeNuDnßi A CASE
._TII6
rinexoaundced yesterday that judgment would be gil,.Beoß.
a ra case on an early day atter the trato re'
.—The Lord

CO the chairs