The Sun.
London, England, 1847-03-12 00:00:00

No. 16,998. LON DON, FRIDAY

NATIONAL LOAN FIJND• LIFE ASSU-
RANCE SOCIETY.
OFFICE, 26, CORNHILL. LONDON.
Capital 500,0001.
Empowered by Act of Parliament.
The system of Deferred Annuities, originally proposed by the Na-
tional Loan Fund Life Assurance Society, for the better advance-
ment of the objects of Benefit and Friendly Societies, having received
the approbation of a considerable body cf the active members and
officers of those Institutions, and the Directors of the National Loan
Fund Society having been urgently solicited by them to establish a
Branch Office in connexion with those Societies and the Operative
Classes generally, in which their services might be successfully en-
gaged, a Committee has been sanctioned by the Directors to open
communication with the different Se-defies, with the view of more
effectually d.sseminating the valuable benefits amongst the indus-
trious classes, and a pled has been ileroposed with that object.
ADDRESS OF TIIE COMMITTEE.
Many praiseworthy but ineffectual attempts have been made to
bring within the scope and operation of the laws of mortality and
money the savings of the industrious classes, as well as various cal-
culations regulating their distribution, having for their object either
immediate, contingent, or deferred benefits.
A slight examination, however, will demonstrate- that the con-
struction of these ass. ciations or societies is defective; and that in-
stead of affording an easy access and a free Choice of investment,
which should be the privilege of every one, they confine too nar-
rowly the channel through which a benefit can alone be secured ;
and, in proportion as their action is circumscribed and embarrassed,
their utility is limited. For example, it is not to every Individual,
or to every class amongst the industrious community, that provision
in case of sickness is an object of such importance as to call for a
pecuniary sacrifice ; whiie to others such a provision appears more
attractive, and the loss of employment caused by sickness Is a risk
against which they desire to be guarded. For this anomalous state
of things there is an effective and simple remedy ; that is to say,
instead of covering, by one weekly or annual payment, two or more
contingent or deferred benefits, so to arrange it that each separate
benefit should have its separate contribution.
It is to not having observed this rule, and to the association of
two dissimilar functions, and by confounding a sick allowance and
all annuity fund in one and the self-same payment, that much of the
evils and mismanagement has arisen amongst Benefit Societies.
No mechanism can be so perfect for the management of a sick-
r csa-ftind provision as that afforded by the constant sectional asso-
ciation and watchfulness of the several members composing it. By
this means a thorough and constant check is mutually exercised, and
none but the really sick are likely to become chargeable upon it
But the same perfection, or the same security, la seldom attainable
where a fund Is to be accumulated through a succession of years,
and where results are to beat' out calculations, money investment
being in general beyond the experience of the industrious doses.:
For these reasons it is clear that the funds destined for a provision in
sickness should be kept entirely distinct from the fund intended as a
provision for old age :-
Ist Because the laws of sickness and mortality, though apparently
connected, do not depend on the same calculation.
2d. Because there are a great number who, in order to secure a
larger provision in old age are willing to take the risk of providing
for probable sickliest( on themselves.
3d. Because the ripponsibility of managing a provision for old age,
continued to a distant period is, in a great measure, incompatible
with voluntary associations, fluctuating laws, and individual irre-
sponsibility, and mere exposed to a failure in the performance of
such a contract, that when undertaken on the same principles that
ordinarily govern commercial lsodie...
4th. Because the expenses of providing for sickness must, when
united in the same payment with provision for old age, tend to dimi-
nish still more this provision : nor is it wisdom or good policy to en-
danger the one for the sake of the other.
Impre-sed with these convictions, and with an intimate knowledge
of the discussions passing within the bosom of many of the existing
Friendly and Benefit Societies, the parties whose names are here-
unto attached, have had several meetings, with a view of proposing
or adopting a remedy for those and other evils ; and in this manner
to give an adlitional force to the principles of brotherhood, unity,
and mutual aid, on which friendly societies are based, by guarding
them from the risks of sudden dissolution.
After mach diligent search amongst the combinations ingeniously
proposed from time to time for the attainment of one of the principal
objects of Friendly and Benefit Societies, they have found none equal
in simplicity and comprehensiveness of design, as well as forethought
and sympathy for the wants of the industrious classes, as the plan
proposed by the National Loral Fund Life Assurance Society. It is
true that the author of that plan has furnished an argument against
provision In sickness; but, without concurring in the immediate ex-
pediency of abandoning a provision in sickness, no one can read the
other pa: t of the plan itself, without being fatly sallsfied that the
conven.ence and safety of Friendly and Ilenefit Sticieties will be
greatly secured and consulted, by separating the payment of a sick
allowance from an annuity for old age.
A deputation leaving waited on the directors of the National Loan
Fund, who met in the handsomest manner the overtures made to
them for the establishment of a separate office for the transaction of
business connected with Friendly and Benefit Societies, and the in-
dustrious classes in general, resolutions have been entered into, con-
stituting the undersigned as a Committee, with power to add to its
number, for the promulgation of the benefits contained in the an-
nexed prospectus, under the guarantee of the Capital of the Society,
and which, without interfering with the numerous objects connected
with the institution of Benefit and Friendly Societies, will In their
opinion greatly enlarge their sphere of utility, and afford a protection
to the working classes in old age and adversity, which nothing up to
the present day has adequately secured to them.
Themas Burthom, P.C.R., Ancient Order of Foresters.
John Fussell, C.lt„ Ancient Order of Foresters.
John H. Gordon. ieS., Ancient Order of Foresters.
James Hale, 11.C.R., Ancient Order of Foresters.
Henry Hunt, P.G., Manchester Unity of Odd Fellows.
Jo eph Nugent, Pro. C.S., Manchester Unity of Odd Fellows.
Joseph Reeks, 11.0. F. Order of Old Friends.
Samuel Timbrell, D.C.R., Ancient Order of Foresters.
DEFERRED ANNUITIES.
I or tf h7e 15 a. y,
rb ythe
month! annual nu et 1 p a
paymentsy - -
meat of
Exam
person'
quarterly agedrly24panyeimetebt
• ,of 2s. 2d., may secure, on attaining the age of
60,35. the. osrtioanili
o,ofree;
re-
ceiving Annuity, 10/. 19s. 2d. ; Cash down, 1071.
on his Life, 1371. 17a.
Example.A person aged 26 next birthday, may secure, on at-
taining the age of 60, an Annuity of 10/., with the other options, by
the annual payment of 11.65. 9.1.. or a single payment of 22/.178.3414
or on payment of 6/. 14s. ad. for disparity, he will be entitled to
the same benefits by an annual payment of Its. 11d., the same as
for age 20.
Example.-1 person aged 30 next birthday, by the annual pay-
meat of 1/. 65., or quarterly payment of 75., or monthly payment
of 2s. 2d., may secure en attaining the age of 65, the option of re-
ceiving Annuity, 181. Os. 4c1.; cash down, 1461. 125.; or a policy on
his life 1751. lls.
Example.—A person aged 35 next birthday, by the annual pay-
ment of U. 65., or quarterly payment of 75., of monthly payment
of 2s. 2d., may secure, on attaining the age of 65, the option of re-
ceiving Annuity, 181. Os. 4d. ; cash down, 1481. 123.; or a policy on
his life, 1751. 1 is,

CALEDONIAN *ASYLUM.
Incorporated by Act of Parliament, 1815.
For Supporting and Educating the Children of Soldiers, Sailors, and
Marines, Natives of Scotland, who have died or been disabled in
the Service of their Country, and of indigent Scotch parents, re-
sident in London.
Notice is hereby given that a QUARTERLY GENERAL COURT
of the Corporation will be held in the Hall of the Scottish Hospital,
Crane. court, Fleet-street, on MONDAY, the 22d of March (instant),
to consider Notice of Motion given at the General Court, on 3d De-
cember last—That all votes recorded by unsuccessful Candidates at
this or any future Election be carried forward for their benefit at
future Elections, so long as they are eligible to remain on the list of
Candidates,

JOHN BURNIE, Secret

March 10, 1847.

CONTRACT for WELSH CUALS for
HAMBOWLINE.
Department of the Storekeeper General of the Navy,
Somerset-place, March 11, 1847.
The Commissioners for executing the (Alice of Lord High Admiral
of the United Kingdom of Great Britain and Ireland, do hereby give
notice, that on SATURDAY, the 3d of April next, at o.ie o'clock. they
will be ready to treat with such Persons as may be willing to
CONTRACT for Supplying and Deliver ng into Store at her Ma-
jesty's Naval Yard at Haulbowline, THREE THOUSAND TONS
of WELSH COALS, fit for the Service of her Mpjesty's Steam
Vessels. T'•e c -minions of the Contract and a Form of the Tender
may be seen at the sat 4 office. No Tender will be received after One
o'clock, on the day of treaty, nor ally noticed, unless the party
attends, or an agent for hem itttly authorised in writing.
Every tender must be addressed to the Secretary of the Admiralty,
and bear in the left hand corner the words " 7 ender for " and
must also be delivered at Somerset-place, accompanied by a letter
signed by two responsible persons, engaging to become bound with
the person tendering, n the sum of 8001. for the due performance of
the Contract.

NrIDLAND- RAILWAY.
B The Midland Railway Ccanpany are prepared to receive
LOANS on Security of their Debentures, for a period or three
years. in sums of not less than 5,0001. each, at interest after the
rate of 51. per cent. per annum, payable Half Yearly. Application
to be made tothe Secretary, at the Company's Office, Derby.
By order, J. F. BELL, Secretary.
Derby, March 6, 1847.