The Sun.
London, England, 1849-05-10 00:00:00

that they would get a good bonus. They would also
be able to add to the amount of capital the rate of
pt-I,w, for the money
he hod invested in this society, and that they would
be able to do with the utmost safety, because the
society was not speculating with the view of obtain-
i og any extravagant rate of interest, but they were deal-
iiig always with the profits of capital realised. When,
after a certain time, they had realised a certain amount
of capital, when their whole transactions were extended,
cod the income they were deriving from that
capital became larger, then it was, and not till
then, that they would make an increase in the
amount of capital that each shareholder had paid to
them, and which, with the additional rate of

interest that they enabled him to pay, would
amount to a very large sum indeed. That
additional interest was founded not upon very great
profits, which might be cut down by competition
with other societies, but upon the capital that had
been already realised. That was the first point to
which he wished particularly to call the attention of
the members of this society. There was another
subject to which he might just allude, and which
had been already brought under their notice, and '
that was the large and regular increase in the
policies ; because they had heard of a cer-
tain kind of skill, in the present day, of
" cooking" accounts. That increase passed all power
of " cooking."—(Hear, hear.) They might cook one
month's accounts, but to cook ten months' accounts
seemed to him impossible. Now, he did trust they
would go on increasing at some such rate as they had
gone on increasing; but if they did not go backward
the result would be that by the lapse of another twelve
months they would be able to get another 140,0001.
insured, and to have an income of 5,0001. or 6,0001.,
which was as much or more than any new society
might expect. He might refer also to another cir-
cumstance, of which the Chairman had spoken very
properly, and that was the medical skill
and sagacity that had been displayed in
such matters by those officers. lie could not
speak quite so much of that as the Chairman,
because he had not had much experience of
it himself ; but he might say that not only
had their medical officers displayed their skill, but
also a great amount of ingenuity, knowledge, talent
and research, in constructing and laying before the
directors a proposal which would in the course of a
day or two be in circulation—a proposal for a system
of endowing children when they attain a certain age,
and applying it generally to all endowments of all the
children which might result from a certain
marriage. One great difficulty in marriage
settlements was that they were not elastic.
Only one or two persons could be usually
provided for in a marriage settlement ; at least the
same facilities for providing for eight or ten did not exist
as for providing for one or two; and thus the happiness
of the parties was to some extent marred by the
stiffness of their marriage settlement.—(Laughter.)
But by the plan of this society elastic marriage set.
Clements would be provided. A man might say it
was all very well to talk of elastic marriage settle-
ments, but I don't wish to use my capital unneces-
sarily to make this investment. All such a person
had to do was to pay this society a certain sum in
addition to that sum which would make a provision
for any of his children, and they would give him back
at a given time, either at his death or at a fixed
time, at the end of 21 or 25 years, a provision accord-
ing to the amount he had paid the society, or at least
a provision to any of the children of his marriage,
although he had as many as the Vice-Chancellor of
England or the Lord Chief Baron of the Exchequer.
—(Laughter.) That facetious gentleman Punch, on
one occasion, when giving short advice to parties
about to marry, had said " don't "—(Laughter)—this
society had still shorter advice to give such people
and it was—" do." These were the two points to
which he wished particularly to call the attention of
this meeting, because they were features peculiarly
belonging to this society. Although they
had no wish to rush into any great
business by proposing rates of premium such
as would preclude them meeting their engagements,
yet they were not at all intending to go on in the old
jog-trot way of other societies, and not to open their
eyes to all plans which might usefully and safely be
devised for the profitable employment of their money,
or to be prevented from applying new doctrines of
life assurance. With those observations he begged to
second the motion that the report be received and
adopted.
The resolution was put and carried unanimously.
The four retiring directors—Samuel Driver, Esq.,
H. P. Fuller, Esq., E. Vansittart Neale, Esq., and
Sir Thos. Newby Reeve—were then unanimously re
elected, as were also the two retiring auditors,
Thomas Bates, Esq., and H. P. Buckler, Esq.
Mr. MILLER said, those two gentlemen having
been elected auditors, it now became the duty of the
meeting to consider what amount of remuneration
should be given to them for their services. There
was in the present day such a thing as " cooking "
accounts; and it was necessary that the society should
have gentlemen to verify the accounts whose respect-
ability was above suspicion. The two gentlemen who
had been re-elected auditors had taken great pains
with the accounts and he begged to move that ten
guineas each be allowed to them out of the funds of
the society for their services during the past year.
Mr. FULLER seconded the motion, which was car-
ried without a dissentient.

Mr FISHER, of Liverpool, briefly proposed, and
Mr. BIRD seconded, a vote of thanks to the directors,
which was also carried unanimously.
Mr. FULLER, a director, said it had fallen to his lot
to acknowledge the kind manner in which a vote of
thanks had been accorded to the directors, and all he
could say was, that the directors had their own inter-
est and that of the shareholders thoroughly at heart,
which were inseparably bound up together. They
had the prospect before them of advancing, and being
the first insurance office in this city. With regard to
laying out the money, he did not think it had been
made clear by Mr. Neale what advantages would
accrue to the shareholders. In many and most com-
panies, at the beginning, the interest upon shares did not
arise out of the profits. That was not the case with this
society ; except that part of the capital that was laid out in
providing the society's offices, and some minor things,
every shilling was immediately invested on a very
profitable security ; therefore the five per cent. which
the shareholders received was paid out of the imme-
diate profits. He must impress on the shareholders
that they and the directors were all sailing in the
same boat, that there were to be no pleasure men, but
that every man was to take an oar himself.—
(Laughter.) By so doing they would come in full
sail at the next annual meeting; and they ought to
show that they would not be satisfied until they had
doubled and trebled the profits.—(Hear, hear.)
Mr. MILLER moved, and Mr. DRIVER seconded, a
vote of thanks to the chairmen and directors of the
local boards connected with the society for their
efficient assistance, which was carried unanimously.
Mr. T. LITTLEDALE, of Liverpool, acknowledged
the compliment.
Mr. WESTOBY moved, and Mr. STUDLEY seconded,
a similar vote of thanks to the managers and officers
of the society, which was carried also neinine dissen-
tiente.

Mr. F. F. CAsluoux, the manager, returned thanks
for that kind expression of their approval of his ser-
vices and those of the other officers. He was
quite sure he only spoke the sentiments of his col-
leagues when he said they were interested heart and
soul in the success of the society ; and he hoped by
the next annual meeting they would have more rea-
son to thank the officers of the society for their
services.—(Hear, hear.)
Mr. STREETER moved, and Mr. BIRD seconded, a
vote of thanks to the Chairman, which was carried
unanimously, and
The CHAIRMAN having acknowledged the compli-
ment, the meeting, which was characterised through-
out by the utmost unanimity of feeling, separated.

COWES, ISLE OF WIGHT.
(FROM OUR OWN CORRESPONDENT.)
ROYAL YACHT SQUADRON INTELLIGENCE.—The
annual general meeting of the members of the Royal
Yacht Squadron will take place at the Thatched
House Tavern, on Friday next, when there are
several members to be balloted for. The regatta
for the ensuing season will be arranged ; the class
of yachts settled on that are to sail for the Royal
Cups, and also for those given by the squadron.
REMOVAL OF THE COURT TO TUB ISLAND.—Her
Majesty is expected down on the 20th instant. The
Royal Family are expected to make but a short stay,
probably not more than a week, and not to come
down for the season until August.
FASHIONABLE INTELLIGENCE.--Thomas Thorn-
hill, Esq., of Riddlesworth Hall, has taken Gothic
Villa for ten weeks; Mrs. Noel, Oak Hill House,
for twelve months. Lord A. Chichester has taken
No. 3, Globe-terrace ' • George Edmonstone, Esq.,
Trinity Parsonage. Captain Westphal], Busigney
House ;B. Mew, Esq., Prospect House ; Wil-
liams, Esq., Anglesey House. The small pavilion
and several other houses have also been taken this
week.

TITIAN'S MAGDALEN.--111 wandering down Con-
duit-street, yesterday we entered some auction-roe
oms,
near Limmera' Hotel, and there, to our surprise, w saw
among other pictures, hung aroung the walls, the
Magdalen of Titian, which was at one time the chief
attraction of the Gallery of Benjamin West. How it
got there we know not, but there it is, and close to it is
" Hope feeding Love," the celebrated Coreggio, which
we recollect seeing exhibited at the Egyptian Hall some
twenty years since.
THE CAPE COLONY.—Yesterday was published
a
Parliamentary document containing the correspondence
with the Governor of the Cape of Good Hope, relative to
the state of the Kafir tribes on the eastern frontier of
that colony (in continuation of papers presented last
year). It extends over a space of 40 to 50
paangdesp.ianist,
Dreyschock, the celebrated composer
is daily expected in London for the season,