The Sun.
London, England, 1863-02-26 00:00:00

The board deem it desirable to call attention to this
fact, in the hope that among the legacies so
frequently left to benevolent institutions this fund will

not be forgotten, An appeal to the merchants and bankers
for further annual subscriptions having been rendered
desirable by the large additional numbers of applicants for
annuities, the board have to acknowledge gratefully the

assistance they have received, and hope still to receive from
that source. The sum of £179 6s. has been awarded in

gratuities during the year to relieve cases of immediate
and pressing distress. Pursuant to the resolution of the

last Annual General Meeting, an election of eight an-
nuitants took place on the 29th of May last, when the
following were elected : —2 clerks to annuities of £3O each ;

3 widows, £2O eaeh ; 3 widows, £l5 each ; making a total of
£165 per annum. One annuity of £3O, and three of £l5 each,
have fallen in by death, and there are now upon the fund

66 annuitants, who are receiving collectively £1,220 per
annum. The board now recommend that eight additional
annuities be granted—viz., two clerks and six widows of
clerks. A resolution to carry the above into effect will be
submitted to the meeting. The board have to report with
much regret the resignation by Mr. George Pollard of the
Auditorship he has held for 22 years. The vacancy thus
occasioned has been previously filled by the board by the ap-
pointment of Mr. Frank Ives Scudamore, Receiver and Ac-
countant General of her Majesty's Post-office, who has
kindly consented to officiate. This appointment requires to
be confirmed for which purpose a resolution will be laid
before the meeting. In seeking the support especially of
the mercantile public, the board are anxious to direct par-
ticular attention to twe facts, viz.-1. That this is the only
institution in the country devoted exclusively to the relief
of distress and misfortune among the general body of the
clerks. 2, That the expenditure is smaller probably than
that of any similar institution in Great Britain, nearly 90
per cent. of the gross income of the fund being devoted to
the objects for which it was founded, while of 109 applicants
for permanent annuities 85 have been placed upon the fund,
and eight more will be provided for during the current
year.

The CHAIRMAN said it now became his duty to
ask the meeting, if they thought fit, to adopt the
report. He should have to trouble them with
very few observations, except expressing his hearty
satisfaction and pleasure at the progress that had
been made, and a sincere wish that the friends of the
associatio❑ would take a larger and stronger interest

in its favour. There was one circumstance men
tioned in the report which certainly at first sight
must attract attention, and that was the singular
smallness of the losses sustained by loans to mem-
bers—(hear, hear)—the entire sum not being more
than 14 per cent. The fact spoke volumes in fa-
vour of the manner in which those advances had
been made, and the integrity with which they had
been repaid. (Hear.) It was, ho felt certain, satisfac-
tory to the board; it was equally so to him, and he was
sure it would be so to the meeting. It was a gra-
tification to know that the board had decided in
May next to elect eight more annuitants on the
fund, viz., two clerks and six widows of clerks ;
and the fact that they were gradually augmenting
the number of annuitants, coupled with the happi-
ness it would be the means of producing, would be
an agreeable reflection for all on a dark night.
(Cheers.) It was to him a wonder that the fund
had not made greater progress than it
had, when it was recollected how valuable a
class of men the clerks were, and how
iesirable it was to have them placed beyond the
means of want, when it fell upon them by a
power beyond their control; and employers, if
they felt in the matter as strong as he did, ought
to have done more than they had towards the sup-
port of so good an object. He could not help think-
ing that if the clerks themselves had put a greater
pressure on their employers, more could have been
effected. There was another fact in the report w hich
he could not refrain from noticing—viz., the ex-
penses of management. This was exceedingly
small, because, by reference to the figures,
they would perceive that ninety per cent.
out of the amount received had been actually dis-
tributed. (Hear, hear.) He could only
again tender to them his hearty congratula-
tion on what had already been accomplished, feeling
as he did that the fund deserved all their exertion,
considering for whom it was intended, and he hoped
he should live to see the day when it would take its
place amongst the most flourishing of the many be-
nevolent institutions of the country. (Cheers.)
The motion of the chairman having been seconded
was carried unanimously.
Mr. WELCH said he had the greatest pleasure in
moving the following resolution :—.4 That in May
next eight additional annuitants, viz., two clerks
and six widows of clerks, be added to those already
on the fund." It was a matter of regret to him
that the fund was not more generally supported
than it was. The reason why retiring pensions
were given to clerks in the Civil
Service was, be-
cause they were unfit for anything when they be-
came incapable, from age or other circuaisiances,
of doing their duty. Now he should like to know
if clerks engaged in mercantile pursuits were in a
different position. (Hear, hear.) lie thought not.
(Hear, hear.) He hoped those superior clerks who
yet stood aloof, would give the fund the benefit
of their support, whilst those who had already
joined it would second the appeal the directors had
made to the mercantile community in general, and
respectfully urge their employers to do something
towards increasing the fund, and thus enable
the directors to meet every case that came before
t hem. (Cheers.)
Mr. COLEMAN seconded the motion. He also
regretted that many of the leading clerks of the
City had not come forward to assist them in a more
liberal manner than they had hitherto done. He
was, however, pleased to second the adoption of the
resolution, and hoped that in future years the num-
ber of recipients would be much greater. (Cheers.)
The CHAIRMAN said he forgot to mention that of
all the applications made to the association, 80 per
cent. were complied with. They had at present
13 men and 66 women, and the eight now proposed
would make 87. (Hear, hear.) The annuity was
no doubt small; but it enabled the widow to have
a house over her head, and, with her own exertions,
to keep her family together. (Hear, hear.)
The resolution was put and carried.
Mr. R. H. JONES (chairman of the board) pro-
posed that Frank J. Scudimore be elected a trus•
tee to the association. He was a man of great
ability, and connected with the Post-office. (Hear.)
Mr. WELCH seconded the motion, and it was una•
nimously carried.
Mr. JErrs proposed thanks to the trustees and
their benevolent treasurer, J. A. Smith, Esq., M.P.,
for the interest they had always evinced in the asso-
ciation.
The CHAIRMAN returned thanks, and expressed
his deep regret that his old friend Baron Roths-
child was confined to his house by illness, and Mr.
T. Baring, M.P., told him last night in the House
of Commons that, although he could not be present
at the meeting he did not feel the less interest in
the welfare of the association. With regard to Mr.
Prescott he was at present on the Continent—that
accounted for his absence. For his own part, he
had he believed been the suggestor and founder of
an institution which for generations to come
would confer lasting benefits on the poor and in-
digent, and he felt proud and grateful for having
been the humble instrument.
The resolution was put and carried unanimously.
The CHAIRMAN said he believed that Mr. Lloyd
wished to address a few words to the meeting ; per-
haps he would kindly take that opportunity of doing

so.
111r.'LLoYD said it was with respect to the steps
he had taken relative to the foundation of a school
in connexion with the association, in which the
sons of clerks would be educated to their father's