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

1849.:

1 THE PROVIDENT CLERKS'
ASSOCIATION.
The annual meeting of the members of the Benevo•
lent Department of this very prosperous association was
held on %Vedeesdav evening, at the London Tavern—
John Abel Smith, Esq., M.P., occupied the chair. Among
those present, we noticed—
Baron L. de Rothschild, M.P., Thomson Hankey, jun.,
Esq., .T. W. Gilbert, Esq., R. H. Jones, Esq., Chairman;
T. W. Welch, Esq.. Deputy-Chairman; W. J. Jordan, Esq.,
Willian Maitland, E•q., John Clarke, Esq., W. S.
Sawtell, Esq., S. Notley, Efq , James Lintott, Esq.,
Samuel Jepps, Esq., John Dankaerts, Esq., A. Dawson,
Esq., Richard Price, Esq., members of the board of
management; Wm. Ratray, Esq., J. J. Iselin, Esq., Wm.
Rennell, Esq., Alfred Smee, Esq., F.R.S., %V. B. Rey-
nolds, Esq., Richard Bell, Esq., Richard Randall, Esq.
The usual routine business having been transacted,
Mr. R. H. JONES (the chairman of the board of
management) read the report and balance-sheet, as
follows:
" The Provident Clerks Mutual Benefit Association and
Benevolent Fund, 42. Moor;zate- street, London.
" REPORT FOR THE YEAR 1848.
•" On presenting their eighth annual report of the
Benevolent Derartment of this Association, the board of
management have much pleasure in congratulating the
donors, subscribers, and members, on the favourable
result of the past year.
" The continued depression of commerce, and the
difficultie, created by the embarrassments of previous
years, would naturally have checked any rapid accumu-
lation of the funds of this departmen,; of the Association,
hut, by increased exertions both in Lonlon and the
provinces the board have not only kept alive the inte-
rest of the Association, but have also increased the
amount of donations and subscriptions.
" During the past year the following sums have been
received, viz. ;
From 102 new subscribers ...
From 383 old subscribers

...Xlll 2 6
... 444 9 6

Making the total amount of subscriptions 555 11 6
And in donations ... ... ... ... 239 8 6

Together ... 0 0
being an increase over the former year of 1991.
" In addition to these sums the board have the gratifi-
cation to announce the receipt of 7111. 6s. 10d. from the
benefit department, being one-third of the first division
of profits, which amount, in conformity witk the rules,
was duly invested in the Funds.
" This fact may be considered as one of great im-
portance- in the early history of the association, and
whilst it has more than realised the anticipations of the
board it holds out a most encouraging prospect fur
the future, more especially as the regular increase in the
business of the Life Assurance Department, is a gua-
rantee that the benevolent fund will, in future derive
very considerable advantage Irom this source.
" The business of the past year, for the assurance
department shows the following favourable result, and
the board have the pleasure to state that 434 policies,
representing 85,1104 were issued, which exceeded the
amount of business of any previous year.
" In accordance with the resolution of the last annual
meeting, an election of three annuitants took place at
the London Tavern on the 31st of May last, when
One clerk was elected to an annuity of 25/.
And

Two widows of clerks, each to annuities of 151.
making in all,
Three clerks and seven widows of clerks,
Annuitants on the funds of this department.
" Towards meeting the expenses unavoidably in-
curred, and as a trifling compensation for the disap•
pointment to the unsuccessful candidate, the board, as
on the previous occasion of the election of annuitants,
presented her with a gratuity of 10/.
" On the evening of the day of election, the Right
Hon. Henry Labouchere, M.P., President of the Board
of Trade, presided at a public dinner at the London
Tavern, in aid of the funds, and was supported by a
large number of patrons and friends of the association;
the net amount realised thereby was 3191. ss.
" Connected with this part of their duty, the board
have the pleasure to announce that through the exer-
tions of Mr. Lea, their agent at Liverpool, a public
dinner was also held at that place for the purpose of
promoting the interests of the association, and it is gra-
tifying to record that the warmest feeling was evinced by
the Worshipful the Mayor, C. B. Horstall, Esq., chair-
man, and a large number of influential gentlemen in
favour of the objects of the association, and the board
hope that the example thus set by the great commercial
town of Liverpool may be followed by others, so that the
benefits of the association may develop themselves in
every part of the kingdom.
" Whenever the agents of the association gave encou-
ragement to hold public meetings, the board readily
sent deputations; and during the past year a meeting
was held at Gloucester, the Worshipful the Mayor,
D. M. Walker, Esq., in the chair, and another at Nor-
wich, presided over by H. J. Gurney, Esq., a name uni-
versally known in the cause of philanthropy and bene-
volence.
" The deputations also ♦isited Stroud, Monmouth,
Newport, and Bristol, and they have pleasure in stating
that in all those places the seed sown has produced con-
siderable benefit to both departments of the association.
" During the past year fifteen gratuities have been
made to 12 members, to the extent 0f,98/. 10s., and 115
members have received assistance from loans to the ex-
tent of 2,4611. Gt. 6d., being double the amount granted
during the preceding year. This fact not only shows
that the clerks were involved in the general distress
which prevailed, but also shows the benefit they have
derived as members of this association, and the managers
are aware of 'nary instances in which this timely as-
sistance to distressed clerks has been of essential advan-
tage 0) them.

A meeting of the treasurer and trustees was held on
the 6th of February at the office of the association, when
the balance-sheets of both departments were inspected
by them, and they were pleased to express their satis-
faction at the progress which had been made.
The balance-sheet for the year 1848, duly audited, is
as follows, by which if will be seen that the increase
made to the funds of the association during the past year
is 1,2461. 19s. 9d. :

"The invested fund on the 31st December, 1848,
amounted to 11,6281. Three per Cent. Stock. With re-
ference to the expenses hitherto charged to this depart-
ment, the Board, after mature consideration, and looking
to the large amount received from the assurance de-
partment for the one-third share of profits, and also to
the fact that the whole of the proceeds arising from
dinners and provincial meetings have been applied to the
benevolent fund, considered it equitable on this occasion
to continue the course they pursued last year by charging
one-third of the general expenses to this department, but
they feel confident that for the current year they will be
able to make a considerable reduction.
" The board have now the pleasure to recommend,
'that at the election on the 30th May next one clerk and
three widows of clerks be elected annuitants on the fund,
and to give effect to the same a resolution will be sub-
mitted in the course of the evening.
" Being fully impressed with the great advantages de-
rived from the public dinners in making known the ob-
jects of the Association, and considering the improved
state of commerce, and the suggestions of some of the
warmest friends and most liberal contributors to the
funds of the association, the board think it desirable
again to celebrate the election of annuitants by a din-
ner, and they will take measures accordingly, not
doubting that they will experience the like hearty co-
operation which has attended their former efforts.
" In conclusion the board congratulate the members
on the steady progress of an association which offers to
those for whom it was originally founded advantages
peculiar to itself, and they again earnestly impress upon
all the necessity of a warm co-operation in extending
its usefulness, a course by which they will at once pro-
mote their own individual interests, and that of the asso-
ciation in general."

The report was much applauded, particularly that
portion relating to the election of four additional an-
nuitants—namely, one clerk and three widows of clerks.
Mr. JONES said, before the adoption of the report was
put by the Chairman, he wishe.l to say a few words
with respect to the publication of the balance-sheet. At
the recent meeting of the members of the benefit depart-
ment, the directors were blamed for not having published
the balance-sheet of that department. lie wished to
state that the directors had not the slightest objection
to do so,—(Cheers.) The only consideration with them
was the expense of doing so, which, he was bound to say,
was treated by some of the members at the last meeting
as a matter of little importance. If it was the wish of the
meeting that that the balance-sheets should be printed,
the board would at once accede to it.—(Cheers.) He
concluded by moving the first resolution:—
" That the report now read be received, adopted, and
printed at the discretion of the board."

Mr. J. W. WELSH seconded the proposition, which
was put by the Chairman and carried unanimously.
Mr. MAITLAND rose to propose the next resolution—
" That on the 30th May next, or such other day as
the board may appoint, of which due notice shall be
given, a special general meeting be held for the pur-
pose defecting fuur additional annuitants, duly qualified
according to the rules, viz., ono clerk being a member to
an annuity of 25L, and three widows of members to an-
nuities of 15/. each, and in the event of no qualified.
member offering himself, then to elect four widows of '
members to annuities of 15/. each."
(Loud cheers,) He said he submitted
.it to
two
meeting with very peculiar pleasure, .111'Ce ‘
years ago, in May, 1847, he had the happiness
submit to the members a similar proposition, with this
exception, that but two annuitants wereproposedto
beto
elected, whilst on the present occasion they proposed
"
elect four.—(Loud cheers.) They were often told that
" one fact is worth a bushel of iscrituanir
gratifying to
ta. Now this
was a fact that must be p
(eu.) It was indeed
every member of the society. ebeers
a source of great satisfaction that the progress of the
institution had been of a nature to enable the directors
to propose the election of four additional annuitants, and
they felt that, strengthened by the members, it would
continue to progress, and enable the directors at a future
period(e to propose
propose the election of additional annuitants.
The managers had always felt that the
benevolent department of the Association had not altoge-
ther progressed as they could wish, and as its importance
deserved. It had not increased in the same rapid man-
ner as the benefit or assurance department, for it must
be borne
even in mind that but a tithe part of
the clerks, of the metropolis, contributed to this
department, though a large number had assured their
lives in the other; yet, upon the whole, the managers
were happy to congratulate the members on the progress
it had made. They were all aware that much distress
had prevailed during the past year among many of the
persons engaged in commerce. This bad tested the
value of this association, and as they had beard
a very large amount bad been lent to members--
indeed, double the amount of the preceding year ; and
the managers had reason to know that the utmost good
had been thereby conferred upon many members. '!'ho