The Sun.
London, England, 1849-02-09 00:00:00

THE SUN,

PIiOVIDEN T CLERKS' MU T UAL
BENEFIT ASSOCIATION.
A special meeting of the members of tl.e benefit, or
as.iurance, department of this very suecessful pad ex -
celltrit -institution was held last evening, at six
o'ckck, at the London Tavern, in conformity with the
folkwing requisition, signed by ten of the members :
" January 20th, 1849.
_ . .

" Sir,—We, the undersigned members of the Prk,ri-
dent Clerks' Mutual Benefit Association, hereby rctriest
that you will forthwith convene a special meeting of the
members of the association, in accordance with the pro-
visions of the Acts of Parliament regula ir.g
societies, and the rules of the association, for the purpose
of rescinding Rule 9, by which the pow( r of appointment
of curtain officers et the association is given to the board
of managt ment, and that the following be substituted in
lieu thereof :

" That the annual general meeting, or a speciul gene-
rat meeting of members called for that purpose, shall
have power to appoint three or more auditors, two Or
more medical referees, one or mure solicitors, an ac-
tuary, and a secretary, and that the said annual general
meeting cr special general meeting of members shall
have power to remove or displace any of the above cffi
cers, and to appoint ethers in lieu thereof.
" That the board of management shall have power to
appoint local agents, clerks, or other officers (nut before
named) as the nature and extent of the affairs of the asso-
ciati may require.'
" Also that Rule 18 be rescinded, and that the fol-
lowing be substituted in lieu thereof:—
" That the auditors, medical referees, actuary and se-
cretary of the association shall severally have and re-
ceive such salaries or remuneration as may be determined
upon at the annual general meeting, or at any special
general meeting of members convened for that purl ose.
" "That the local agents. clerks, and other officers, to
be appointed as provided for by the Rule 9, shall seve-
rally have and receive such salaries or remuneration as
the board of management may decide upon.'
" And to inquire, discuss, and determine whether the
board of management have strictly conformed to the re-
quirements of the several Acts of Parliament regulating
Friendly Societies, relative to the disposal of the funds
belonging to this association ; and whether the interests
of each individual member have net been placed in con-
siderable danger by the acts of the present board of
management, and still remain so, with the possibility of
the enrolment and other privileges being annihilated by
the officers of the Crown.

" And to determine that the board of management,
as well as local agents and clerks. be called upon to give
security, pursuant to the 10th of George IV., cap. 56,
sec. 11, in such penal sum as the annual general electing
or a special general meeting of members shall think
expedient.'
" And also to substitute the words 'annual general
meeting or special general meeting' for the words board
of management' in Rule 16."
(Herr follow the signatures.)
The Treasurer, John Abel Smith, Esq , M.P., and
the Trustees, Thomas Baring, Esq., M.P., W. G.
Prescott, Esq. Thomson Hankey, jun., Esq., and the
Board of Management, on their entrance, were greeted
with loud cheers. We noticed the presence of the
following gentlemen :
R. H. Jones, Chairman; J. W. Welch, a-puty Chair-
man; R. Price, W. E. Jordkn, S. Nottley, J. Clarke, A.
Dawson, S. Jepps, J. Lintott, W. S. Sawtell, J. Dan-
ka,rts, A. Maitland, J. J. Iselin, Esq.; Geo. Taylor,
Etq.; W. Ra:ray, E,q.; Goo. Thomas, Esq.; Dr. Jones,
Dr. Uay, Alfred Since, E-q.; J. Augarde, Etq.; Gay,
Esq., of Stroud; Wrignt, Esq., Birmingham, &c. &c.
The room was crowded to excess, not less than 500
being present.

Richard Henry Jones, Esq , occupied the chair.
The CHAIRMAN said, in consequence of a requisi-
tion which he had received, signed by tea members,
he had felt it his duty to call that meeting.
Having read the advertisement convening the
requisition, the Chairman called upon the requisi-
tionists to proceed with the business for which they
had been instrumental in calling the meeting.
Mr. HEMPSTEAD submitted the following motion,
which he did not accompany by any remarks :
"That rule nine, as it now stands, be rescinded, and
the following rule be adopted in lieu thereof :—' That
the annual general meeting, or a special general meet-
ing of the members called for that purpose, shall have
powt r to appoint three or more auditors, two or more
medical referees, one or more solicitors, an actuary,
and a secretary, and that the said annual gener.d meet-
ing or special general meeting of members shall have
power to remove or displace any of the above officers,
and to appoint others in lieu thereof. That the Board
of Management shall have power to appoint local agents,
clerks, or other officers (not before named) as the nature
and extent of the affairs of the association may require.' "
Mr. T. CHEW seconded it.

Mr. R. SMITH proceeded to offer a few remarks in
support of the proposition. It must, he said, be a
matter of great satisfaction not only to those inte-
rested in the adoption of the propositions contained in
the requisition, but to those interested in maintaining
the rules as they stood, at the large numbers they
had, the pleasure of beholding on that occa-
sion. He was glad also that they were
honoured with the presence of several influential
gentlemen connected with the management —( Hear)—
honoured by the presence of many who, by allowing
their names to be connected with the institution, had,
by thus patronizing it, conferred upon it inestimable
good.—(Hear.) The institution was much indebted
to them for their kind assistance. Nothing, he as-
sured them and the directors, but a strong sense of
duty had induced the ten gentlemen who had signed
the requisition to bring the matters contained in it be-
fore the whole of the members. It was indeed sur-
prising that there should have been any occa-
sion for such a meeting, when the re-
markable, but now, it appeared, seeming
unanimity that characterised the last annual
meeting was taken into consideration. He believed
he was correct in saying that that unanimity was but
seeming.—(Hear.) The facts alluded to in the re-
quisition were unknown to the requisitionists at that
meeting ; otherwise allusion would have been made
to them. In most, if not in all, institutions it was
often politic to let abuses remain rather than inter•
fere with or publish them, as such a course might
irreparably injure the institution; but he was in a
condition to show that in this institution there were
abuses which, being most detrimental to its welfare,
should be exposed and abrogated at once.—(Hear.)
No one present, he was satisfied, would contend that
the propositions contained in the requisition
were novel, since the Act of Parliament
under which the institution was enrolled conferred
all powers and privileges connected with friendly so-
cieties upon the members at large, and not upon any
individual or body of individuals.—(Hear.) The Act
gave the members of an institution like this the power
in their collective capacity of making such rules for
its better government and guidance as the major part
of the members might think fit, provided they were
not opposed to the spirit of the Act of Parliament.
The speaker then cited two clauses from the " Law re-
lating to Friendly Societies and Benefit Building So-
cieties." The second, from Geo. 4, c. 56, sec. 11, was
as follows :—" And be it further enacted, that any
such society shall and may from time to
time, at any of their usual meetings, or by their com-
mittee, if any such shall be appointed for that society,
elect and appoint such persons into the office of
steward, president, warden, treasurer, or trustee of
such society as they shall think proper, and also shall
end may from time to time elect and appoint such
clerks and other officers as shall be deemed necessary
to carry into execution the purposes of such society,
for such space of time and for such purposes as shall
be fixed and established by the rules of such society,
and from time to time elect and appoint others in the
room of those who shall vacate or die." No
one present would deny that the directors
according to the rules had the power of electing all
the officers ; but the requisitionists fell back upon the
right of the members to perform that office. They
desired to resume that right which had been abused,
and to elect the officers directly, and not by delega-
tion. The parentage of the rules could not be mis-
taken—every power was vested in the board of
management, and the members were bound hand and
foot. The managers deserved much credit that their
law expenses had been so trifling.—(Hear.) But,
%-,ithout wishing to displace any of the officers, for
they had transacted their duties in an honourable and
satisfactory manner, he might be permitted to say
that a number of difficulties might not unlikely arise
with respect to the question of nomination, which they
possessed in common with other institutions formed
upon a similar basis. It made no difference to the
directors to whom they paid the policies, but it was
an all-important matter that the holder of a policy
who, perhaps out of small means had found much
difficulty in keeping up the payments, should be
satisfied, beyond the shadow of a doubt, that it would
be paid at his decease, and that his family would not be
left to perish.—(Cries of " Question," and " Come to
the point.") He was not departing from the ques-
tion. They had an income of from 9,0001. to 10,000/,
and it was most important that the members should
have the control of its expenditure, since the directors
might, if they thought proper, create business for the
solicitors —(Cries of " Shame," hissing, and much
noise, and a disinclination to hear the speaker further.)
The CHAIRMAN appealed to the meeting to hear the
gentleman to the end. The directors wished all said
on the matter that could be said.—(Cheers.)

Mr. SMITH proceeded—He said he had no charge
to make—he entirely exonerated the directors from hav-
ing done anything of the kind; but what guarantee had
they that it might not be dune in the future? He
repeated that the members should take the privileges
1;e had named into their own hands, as it was tossible
they might appoint parties as solicitors, and create
business for them.—(Hisses, cries of " Shame," and
uproar).
The CHAIRMAN again appealed to the members to
hear Mr. Smith cut. The directors were prepared
to reply to any charge he had made or might make.
Mr. Sawrn—l say it is possible.—(Laughter.) If
the funds were squandered, the members would mourn
instead of laughing. Then with respect to the appoint-
ment of an actuary, did they not know that railway
dividends were often paid out of capital, and that
assurance coinpanits did the same ?—(Cries of " No,
no, it is false.") Appointed by the directors, and

LONDON,

under their direct influence, might they not make a
favourable, hut a fictitious bonus ? (No, no.) Then,
again, might not the medical officers be induced, by
being under the influence of the directors, to pass bad
lives.—(Roars of laughter.) At least such a thing
was passible. But had the medical officers been re-
warded as they deserved ?—they laboured for the
members night and day, and for years, in the early
period of the association without reward. They had
shared a paltry 151. given to them, then 201., and last
year 1001. among the three. Now, let them contrast
that with the 4001. voted to the directors at the
last meeting. Would they have acted in that man-
ner towards the medical officers if the power of their
appointment and remuneration was in the hands of
the members ?—(No.) Had they not been willing to
jive the members advice at all times at their own
houses, and to come to their own homes when they
were unable to attend ?—(Hear, hear.) He next
came to the appointment of the auditors. He thought
the appointment of those officers was a power which
a board of management should never possess.—(Hear,
hear.) He would proceed to show that the members
were now bound hand and foot, and could not move.
He had said he could give them facts ; he would now
give them one that would create astonishment. How
did it happen that the auditors passed over an item
of 7001. in the balance-sheet which had been lent by the
assurance to the benevolent department without any
legal vouchers ?—(Hear, hear.) Had the directors of
the life assurance department any right to lend
money in that way ? They had not. Were they
not stringently bound by the Act to expend the
money in a proper manner, and had not this 7001.
been lent to an association, from which, had it been
unwilling to return it, it could not have been re-
covered, since the benevolent department:could neither
sue nor be sued.—(Hear, hear.) It appeared that
several members had been refused copies of the
balance-sheet. (He then read a letter from the
Chairman to a member, stating that he could take a
copy of the balance-sheet.)—(Laughter.) He did
not know how many members there were in London,
but he should like to know how many could get
copies, or how the business of the office could be car-
ried on if this system of copying the balance-sheet was
to be adopted. 'The expense of printing was a paltry
excuse, and instead of setting it up the directors
should have been glad to have acceded to the request
of the members, and to have submitted it to the
light of day. Then, finally, with respect to the ap-
pointment of the secretary.—(Hear.) That was a
matter which he held to be of great importance to
the association. The office was no mean or dis-
honourable one in connexion with any association :
in this it was the most important office connected
with the association.—(Hear.) Upon the efficiency of
that gentleman depended the success or ruin of the
institution.—(Cries of " Yes" and " No.") Those
who called out " No" knew little of the duties of a
secretary. He said members should have a right to
appoint that officer. It was a singular fact with re-
spect to the secretary who had been dismissed, that
exactly contemporaneous with his connexion with the
institution had its business flourished. He did not
say that they were solely indebted to him for this
success, but he could not help saying that it was a
singular fact, that from his connexion with it it began to
show signs of vigour, and it now took its stand among
the most flourishing institutions of this kind in the
metropolis.—(Cheers.) In 1844, according to the
statement of Mr. J. W. Welch, the deputy-chairman,
at a meeting at Norwich, but 110 policies were
is-ued of 15,9001.; that at that time it was thought
of disposing of the business to another company who
offered 1,0001. for it; but a meeting of the trustees
was called, viz. :—John Abel Smith, Esq., M.P.;
Thomas Baring, Esq.; ALP.; Baron Roths-
child, M.P. ; Thomson Hankey, jun., Esq ;
and William G. Prescott, Esq , who said that
if the business was worth that sum to another
company it was worth while to keep it, and they did
so. About that time Dr. Mullinder became con-
nected with the association, and the business increased
in the following ratio. Policies to the following
amount were issued in each year :-
1844
1845
1846 • • 69,000
1847
1848
In support of his statement that the secretary should
be appointed directly, and not by delegation, Mr.
Smith read from the obituary in the Times of yester-
day a notice of the death of Samuel Wells, annually
elected Registrar of the Bedford Level for five-and-
twenty years. Quite irrespective of any difference
between the late secretary and the board, this fact
was on record, that he had been dismissed without
reason and without notice—discharged from his office
and flung upon the world—exposed to all its suspi-
cions and cruel taunts—discharged, too, without any
reason being assigned beyond those which they had
been able to glean one from another. He then read
the letter discharging the secretary, signed J.
Stubbs, which was dated the 19th of January,
the day after the annual meeting, and
another, stating that the salary which was due to
him up to the 18th January, the day of the annual
meeting, 141. 15s. 11d., should be paid on applica-
tion, the reading of which elicited cries of " Shame"
and hisses. Now, unless the directors could show a
case of the grossest kind—(" Hear, hear," from the
directors)—conduct like that they had pursued
ought not to be tolerated.— (Hear.) They did not,
he was sure, require their officers to work for
nothing. They would recollect that the managers
did not do so—that 4001. was voted to them at the
last meeting, and that the Chairman on that occasion
said, when an increase of the secretary's salary
was suggested, that " the directors are clerks, and
they feel as clerks." Would any one have believed,
after such a statement, that an event of this
kind would have taken place so soon after the meet-
ing ? He said the directors must show to the meeting
that there was an " overwhelming necessity" for
what they had done.—(Hear, hear.) If the members
knew anything of life assurance, they must be aware
that the sudden dismissal of a secretary, close upon
the annual meeting, must have the effect of throwing
the wholebusiness into confusion.—(" Oh," and " No,
no.") For aught he knew it might be so. The
!natters which they had met to consider were
altogether so important, that he was determined
to sift them to the bottom. If Dr. Mul-
lender had disgraced himself—if he had frau-
dulently taken the funds—(Cries of " No, no,"
from the directors)—and in other ways dis-
graced himself, the sooner they were rid of such a
man the better— (Hear, hear)—but if the reverse
was the case—if he had transacted their business
properly, and fulfilled the office with honour, he
trusted they would not allow a man to be subjected
to the contumely which had been cast upon him,
without some explanation.—(Loud cheers.)
Mr. BELL said the rules were now in the
ninth year of their existence, and the institution
having, under them, lived through the pe-
riod of infancy, and . was now beginning to feel
the strength and maturity of manhood, there was
little doubt, if they would not interfere with them and
allow them to remain intact, it would become the most
powerful in the kingdom, a state of things which
had, with the utmost show of reason, been predicated
of it. Under, and in accordance with, the
rules they had been able to obtain 1,800
members.—(Hear, hear.) The limit of the
amount of assurance to 500/. had been extended to
1,0001., and he had taken advantage of the alteration
to assure his life for that sum.—(Hear, hear.) That
fact must plead as an excuse for his anxiety in rising
to address them upon a subject so important. If they
had done so well for nine years, and each year been
congratulating the directors and themselves at
its success—having enrolled 1,800 members,
and given them satisfaction ;—surely it was
not too much to ask those who proposed the
' alteration of the rule what advantages they were to
gain, which they did not at present possess, for those
which they were in actual possession of.—(Hear,
hear.) At any rate the advantages would be entirely
prospective. Many of the 1,800 he had named had
increased, like himself, their policies when the rule
was altered, and when the portals were again
opened wider, if it was deemed expedient to do 30,
they would increase their stake in the association in
like proportion, provided they did not alter those
rules in accordance with which they entered into the
original contract with them.—(Loud cheers.) If
persons like himself were every now and then to be
placed on the tenter-hooks of alarm in the
way they had within the last few days,
they would seek the earliest and best opportunity of
retiring from an association which caused them so
much uneasiness.—(Hear, hear.) What did it matter
to them by whom the officers were appointed if their
affairs were transacted in a satisfactory manner ? Why,
how would the Messrs. Baring, or Messrs. Smith, Payne,
and Smith take it if their correspondents were to go
to their banking houses and demand a right to
appoint their confidential clerks ?—(Laughter.) Sup-
pose these resolutions were carried, who would they
get to act as directors ? He had the pleasure of being
acquainted with the Deputy-Chairman for many
years, and since he had been connected with this
association he had become acquainted vi ith many
of his colleagues, and from all he had been
able to hear with respect to them, he
found those gentlemen entitled to the highest respect.
—( A Voice—" That is not the question.") Well,
then, he could tell them what was the question—what
man, possessed of any self-respect, would sit at a
board after the cool insult offered to them in
the requisition. He at least should have no
respect in them. They were well known
to the merchants in whose service they were.
Would they support the institution if these gentle-
men, who were perfectly upright and honourable,
were to be thus insulted ? Suppose they appointed
the secretary, who was to dismiss him ?—(Several
voices, " The members.) But suppose they should
elect a man who had represented himself as