The Sun.
London, England, 1849-02-23 00:00:00

sons why the board should not abruptly bring about that
reduction. In two or three items of the general expen-
diture they had reduced it 2001. or 3001. during the past
year.—(Hear.) They must not go on too rapidly with
that reduction in the present infant state of the associa-
tion, but their desire was to use economy, combined
with prudence. He thanked them for that additional
mark of their approval, on his own behalf and of the gen-
tlemen around him..(Cheers.)
A MEMBER begged to ask whether it was the inten-
tion of the board of management to acknowledge, by
any remuneration, the services of Mr. Mullinder, their
late secretary?
The CHAIRMAN did not rise for the purpose of inter-
rupting the member, but only for the purpose of in-
timating to him that this meeting had nothing whatever
to do with that subject.
The MEMBER thought it right to observe that he
supported the committee at the late meeting, but he still
thought the present meeting ought to have an oppor-
tunity of knowing what the directors intended to do with
reference to Mr.‘ Mullinder's past services. He thought
the directors ought to express an opinion whether they
intended to give him any remuneration.
Mr. JONES said this was not a meeting at which such
a subject could be brought forward. They would re-
member that on the occasion when such a subject could
have been entertained, he (Mr. Jones) gave a hint to
the meeting to do so if they thought proper.—(Hear,
hear.) The report showed that on that occasion it
was in the power of that meeting, and that it was
the only meeting that could entertain that question.
As regarded Mr. Mullinder's being paid up to the time
when he left the society, the managers had taken the
advice of their solicitor, and they could only act in ac-
cordance with that advice; and when that requisition came
out insinuating misappropriation of funds, it became the
more important to have recourse to the advice of those
who were able to guide them on such a subject.—
(Cheers.) It must be a benefit meeting only at which
the subject could be entertained.
Mr. RICHARD PRICE said, in rising to propose the
last resolution of the meeting, which was that its best
thanks be given to their excellent chairman, he did so
with unmingled pleasure. He felt that it would be
highly imprudent in him to offer anything like
a tribute of praise to the chairman, for every man in
the association must esteem and love him, for they were
greatly indebted to him for the great advances which the
association had made—(Cheers)—and for his kindness
on all occasions, in promoting the interests of it. His
kindness that evening in taking the chair was only a small
part of the obligation that the association owed him.
Whatever the honourable chairman did, he did promptly,
efficiently, and well; and he (Mr. Price) thought there
was not a man in the room who did not agree with
him in thanking Mr. Smith for his services. He
(Mr. Price) hoped he would live long to fill
the office which he then held with so much credit to him-
self and advantage to the society.
Mr. WORCESTER wished to know whether it was the
intention of the board of management to print the
balance-sheet.
The CHAIRMAN intimated that the readiest way of
answering the question was to put it to the meeting at
once. The question was left open in this way, tha-, it'
no gentleman moved any such suggestion, it was to be
inferred that nobody wished the balance-sheet to be
printed.
Mr. COLEMAN thought that the regulation was com-
pletely settled, that the report should be printed under
the direction of the board of management, and when
the whole question was in their hands, it was to be
hoped they would adopt a course which would best pro-
mote the interest of the association.
Mr. WORCESTER would take the liberty of proposing
that the balance-sheet should be printed.
Mr. Cowart would second that proposition.
A MEMBER objected to the proposition on the
ground that the printir.g of the balance-sheet would cost
between 30/. and 401.--(Oh, oh!)
A 31E3113ER adverted to the incident relating to a
dinner at Liverpool, as showing the importance of having
the balance-sheet printed.
Mr. J. J. IsELIN felt almost certain that Mr. Jones
would at once a9sen't to the propriety of printing the
balance-sheet. It appeared that the annual report was
already printed for distribution, and the balance-sheet

might be printed and circulated with it—(Hear).
It wuuld probably be the best course to intimate pub-
licly that the report might be had by any one calling at
the office, including. the balance.sheet.
The discussion was ended by Mr. JONES, the chair-
man of the board, stating that the balance-sheet would
be printed. The balance-sheet ought to be embodied in
the report, and printed with it, in order that clerks gene-
rally might seo the necessity of doing more to back up
that noble league which had been taken up by the great
commercial and banking-houses of the metropolis.—
(Loud cheers.) He felt that much good would arise
from publishing the balance-sheet with the report,
and having expressed that feeling he would si►t down
confidently awaiting a communication from the chair-
man which would render unnecessary anything like a
division at that harmonious meeting.—(Hear, hear.)
The Cnazamax said he would answer the observations
of the gentleman by requesting Mr. Worcester to
withdraw his . motion for this reason, that he was
instructed, by Mr. Jones to express the perfect readi-
ness of the board to print the report.—(Cheers.) It
was best always on any subject to ascertain the general
feeling of the meeting, and on the 'present occasion he
thought, and Mr. Jones agreed with him, that sufficient
feeling had been evinced to justify the board in going to
the expense of printing the accounts.—(Cheers.) He
would, therefore, ask that gentleman not to press his
motion.

Mr. WORCESTER said he would withdraw the motion
pith very great pleasure. His original impression was
that the balance-sheet would be printed, but as other
members laboured under a different impression, he was
only desirous that the truth should be arrived at on the
subject.
The motion was then withdrawn.
Mr. JEPPS said, as the discussion with respect to the
accounts had terminated satisfactorily, he again rose to
second the resolution, tens eying the beat thanks of the
meeting to John Abel Smith, who had kindly
taken the chair on that occasion. He did so with pecu-
liar pleasure and satisfaction, as it afforded him an op-
portunity of publicly stating, from the position which ha
had had the honour to occupy for many years in
tille establishment of their chairman, that he had at all

times taken the deepest interest in the welfare of the
association.—(Hear.) Day after day he had had occa-
sion -to communicate with him upon the subject of the
association, and: he had always found him ready to
linter into ite details which it was necessary for him to
place before him. He had now nothing more to do
than to propose the resolution, which he did
with the greatest pleasure, and he was sure that it
would meet with the best acceptation of the meeting.
The resolution was carried with great applause.
The CHAIRMAN then rose to return thank,. He said—
Gentlemen, I need not say I am sure that I feel ex-
tremely thankful to you for the cordial sincerity
and the feelings of kindness with which you have
on this, as on all former occasions, treated me.
I have so often had occasion to trouble you with speeches
that I thought it this evening better and more respectful
to reserve the few observations which I had to make
until the close of the proceedings, and to sum up all in
a.very short speech, which I promise you it shall
bp. I congratulate you and myself, and I congra-
tulate my friends on the right upon the satisfaction
which one and all will and must feel at the
results of this evening. I will say now what I have
often expressed before, that. I have always felt a pride
and satisfaction in having helped to establish this insti-
toation.—(Cheers.) But if' I have ever felt any pleasure
in contemplating the fact, I do so this evening with ten-
fold power, and for these two reasons—first of all,
because during the unfortunate year of 1847
the eminent usefulness of this institution has
been called into practical use.—(Cheers.) It has been
called to help those who want help, and it has been
found ready and able to perform the task allotted to it.
The second reason is this; - that we have at last been
able to prove to you by a distribution of the first divi-
sion of profits of the insurance department, the real and
permanent basis of this part of the establishment.
I believe that on former occasions, when I have tried to
explain to you the wide distinction between this and
other charitable institutions, I have perhaps failed to
explain to you fully my meaning. It was difficult to
those who did not understand the subject
.to
lain the working' of
explain the profits u on the In-
surance department, but as you new
Psee by the
practical result that there is a profit, and that you re-
ceive a share of it, you will more fully and completely
understand yourselves, and more completely be able to
explain to others, that by insuring your,lives in this de-
doing that which, it you are able to do it,
partment—by
I maintain you are called upon in duty to your-
selves, and in duty to your families not to
neglect (Cheers) you are not
those
who a
onlyprorteecting
yourselves, but you are protecting
asso-
ciated with you in one common pursuit.. from those un-
avoidable results of illness or accident to which all
of us are exposed.—(Cheers.) I believe that you
have peculiarly a right to congratulate yourselves upon
the state of this institution, inasmuch as in times
.of
distress its benefits have been proved, and in the results
of the success of the insurance department, the future and
permanent extension of that branch of this institution is,
I confidently believe, secure.—(Cheers.) I need not, I
am sure, add, one word to; what has been said as to the
duty,which you all owe to those who have worked to place
this establishment in its present state of prosperity.
You ought to render them every assistance in order that
its usefulness may be extended still further. There can
be no doubt whatever , that the Benevolent Fund is
smaller than it was expected to be, and,l may add, smaller
than it ought to be, in reference to the exertions of those
who have tried to forward it.—(Cheers.) I do not,
however, feel discouraged on that account. • I
do not feel the less certain that when the benefits of the
institution are more extensively known,, it will be,
scones or later, the means—and I pray and trust that I
may not be disappointed—of protecting many deserving
clerks from those casualties, either in their own position
or in that of their employers, which it has been our
greatest desire and object to meet.—(Cheers.) I am
certain the declaration of Baron Rothschild will
not be lost sight of by the managers of this institution.
I am still more persuaded of that, becauseae h
v the
the successt
of the insurance, department the
and follow .h
the suggestionsemenus
at
their their disposal to obey
have been thrown outs and ill should weread the lesson
of their past exertions if, we are not certain that they
arc as anxious as we are to increase the number of
annuitants as fast as prudence and justice will allow.
—(Ch ers.) Is is impossible that with the present
,
business of the insurance department, the burden
now laid upon this portion of the institution can
long continue, and
I know. that. one. of the happiest
and most triumphant days
of the board of management
will be when they relieve the Benevolent Department
from any share, however small, in the expenses of the
institution. Gentlemen, I will not sit down without al-
luding for a moment to the expression of a gentleman
whose name I hare not the honour to know, with re.