The Sun.
London, England, 1846-03-13 00:00:00

THE PROVIDENT CLERKS' 1417-
11141.1. AND i;ENC.FIT ASSOCIATION AND
BENEVOLENT FUND.

A general meeting (consequent on a requisition,
signed by the most respectable members of the Associa-
tion) vi as held yesterday evening, at the London
Tavern, Bishopsgate-street, at six o'clock, George
Thomas, Esq., in the chair.
The CHAIRMAN said the time had arrived when an
opportunity would be given to every member to express
his opinion on the matters which would be brought
before them. The meeting would be put at once in pos-
session of the question before them if the requisition
were read. (The Chairman then read the requisition.)
The Chairman added, that he should be happy to hear
any observa'ions made by any gentleman present, re-
serving to himself the power of making what comment
he pleased afterwards.
Mr. WELCH rose simply to propose a resolution,
raising the maximum policies (at the option of the
holders) from Ma to 1,0001. The directors had
anxiously taken the matter into consideration, and they
were of opinion that the alteration would be a desirable
one. He therefore oisosed that the twenty-third rule
should be altered accordingly. It might be perhaps as
well for him to state that this resolution had been sub-
mitted to the direction, and they, with one exception,
had agreed to it.
Mr. BOURNE asked whether the resolution referred to
other than life policies?
Mr. LLOYD—No; certainly not.
Mr. Rassniar said that it was a matter of necessity
that the clause should be altered in toto, because they
could not take any part of it specifically.
Mr. GOSWELL, having signed the resolution, felt it
necessary, as a man, to state the reason which had in-
fluenced him in that decision. He had known many in-
dividuals who wished to join their institution, but be.-
cause they could not grant a policy for a larger sum than
5001., then they-would not be members of the a socia-
tion. He did not see that they should not derive an
equal benefit with the larger associations. If they ex-
tended their premiums, they would reap extended ad-
vantages.
Some desultory conversation followed, in which it was
stated that at least half-a-dozen applications had been
made to the full amount of the 500/. within the last fort-
night ; and he (Mr. Mullender) might state that the
eminent banker, John Abel Smith, had introduced many
clerks who wished themselves insured for 1,0001. each,
but who, in consequence of the limitation of 5001., were
obliged to go elsewhere.
Mr. FIAWRES said that as the original rules of the as-
sociation limited the insurances to 5001., he did not see
that they were justified in raising them to 1,0001. It
might be a different thing with rich companies, but they
ought to remember that theirs was but a young concern,
and therefore they ought to be cautious in their pro-
ceedings.
Mr. WOODWARD said that was a mere matter of cal-
culation after all, and although it might not have been
advisable at first to raise their policies to 1,0001., yet
now 'that they were an established company, with a
uaranted capital, he did not see why they should not
do so.
Mr. Mano) had to make one observation. He
could beg leave to point out that one-third of the pro-
fits would after all go to the benevolent fund.
Mr. RATTRAY said that a vast number of persons
were lost to the society in consequence of the rule which
limited them to 500/. insurances. If they amended the
clause it would serve at once to add to the utility of the
association and the benefit of those interested in it.
Mr. Tool, said that he thought the proposition a very
good one, and he was of opinion that the principle
should be promulgated as much as possible. He
thought that it would be for the benefit of the associa-
tion that it should be advertised in the public papers.
The Chairman said that if that proposition were in the
form of a resolution it could be put after the first reso-
lution was carried.

The CHAIRMAN said that he was very sorry that on
this occasion his opinion did not coincide with those of
the rest'of his colleagues. It had not been his intention
to destroy the unanimity of the meeting by stating his
opinions before them, but, as it was the wish of the
board that he should occupy the chair that evening, he
felt bound to state that he did not by any means ap-
prove of the proposition before them. He had certainly
given his friends due notice, and had sent them a state-
ment 'of his reasons for dissenting from their opinions.
Mr. PRICE said that some years ago, when the society
was formed, the sum of 5001. was named as the extent
of insurance, but it was understood that at a future
period the sum might be increased. The chairman of
the present meeting was at that time favourable to the
proposition, and was well aware.that the feeling of the
association was to increase the amount of their in-
surance according to their ability. Mr. John Abel
Smith, when he thought the association sufficiently
sound, had been to ensure the lives of his clerks for
sums as high as 1,0001. He was not able to extend the
amount of his insurance so far as that sum, and therefore
he was compelled to have recourse to another offce
to insure a part of the same. It was obvious that this
association was increasing rapidly in the insurance de-
partment, as in the year 1844, the benefit arising from
that department was 143/. 1 ls. hod., in 1845 it was
1591. 6s. Bd., and in the present year it was 2251., giving
an increase of nearly 100 per cent. on the first amount
on the policies.
Mr. BOURNE said that anything that had passed at
the board of directors should have been kept a secret.
If the association intended to carry out this increase,
he thought that it was necessary that a certain number
of policies should be received beforehand, so as to render
the large policies in proportion to the small ones. All
insurance offices depended on an average, and if any-
thing interfered with that average they were not safe.
It was useless to adopt,the present proposition unless
they had a guarantee for such a number of policies as
would keep up the average in their case. The Alliance
Insurance Office had given 2001. to this association,
under the impression that it would not interfere with
their business. It could not be disputed that if they had
thought that it would become a general office, and per-
haps in time interfere with their business, they would not
have done so.— (Hear, hear.) Ile had perhaps said
enough to convince the meeting that it would be neces-
sary to give it their strenuous opposition, and he would
conclude by moving that the resolution he read that day
six months.

Mr. HOWDEN seconded the amendment, because he
considered if they increased the amount to a 1,0001. that
few would avail themselves of it. Few even now availed
themselves of the opportunity afforded to them of ex-
tending their policies to 5001.; indeed, the average was
under 2201., arid, besides, he did not believe a sufficient
number would avail themselves of the rule to make its
adoption worth their while.
Mr. LLOYD said he was the principal means of ob-
taining 2001. for the institution from the Alliance In-
surance Company, but he positively declared that that
Company, in making the gift, required no pledge, or, in
fact, was it either implied or thought of, that that so-
ciety should not do what business they pleased as en
assurance company.—(Hear, hear.)
Ti.e CHAIRMAN said it was his conviction that the
society was not limited at its establishment, to confine
its policies of insurance within 500/.
A GENTLEMAN considered that if the Alliance Insu-
rance Company thought, when they gave this institu-
tion 2001, that they ultimately intended to establish an
insurance-office on their own account, they would not
have given it. Besides, he considered they were not in
a position to take so hazardous a step at the present
moment, and that they should wait a few years until
their prospects increased, instead of competing with
large establishments, possessed of great capital and in-
fluence. Then they might cripple the utility of the
society by losing several thousands'in the course of a
year, as they had only 5,0001. to fall back upon. He
was insured for 5001., but very few of the members were
insured to that amount, which, in itself, showed that the
increased rate was not required.
Mr. RA.TTRAY said, in the event of their finding the
proposed maximum too great a responsibility, they
might go to any assurance office in London, and desire
them to take 500/. off, which he was satisfied would be
acceded to, thus relieving them of the additional risk.
After a short discussion, the original motion and the
amendment were submitted to the meeting, when 28
voted for the former, and 28 for the latter.
Mr. BROWNE then demanded a poll, on the ground
that the Act of Parliament specified that three-fourths
of the members present should be in favour of the adop-
tion of such a proposition. The demand was acceded
to, and those in favour of the original motion took one
side of the room, and those in favour of the amendment
the other. The result showed that 32 voted for the ori-
ginal motion, and 15 for the amendment.
•
The original motion, therefore, was lost.
A vote of thanks having been given to the Chairman,
and suitably acknowledged, the meeting separated.

CAPABILITIES OF THE OREGON.—Referring to my
journal for particular descriptions and for sectional boundaries
between good and bad districts, I can only say, in general
and comparative terms, that, in that branch of agriculture
which implies the cultivation of grain and staple crops, it
would be inferior to the Atlantic States, though many parts
are superior for wheat; while in the rearing of flocks and
herds it would claim a high place. Its grazing capabilities
are great ; and even in the indigenous grass now there, an
element of individual and national wealth may be found.
In fact, the valuable grasses begin within one hundred and
fifty miles of the Missouri frontier, and extend to the Pacific
Ocean. East the Rocky Mountains it is the short curly
grass, on which the buffalo delights to feed (whence the
name of buffalo), and which is still good even when dry and
to all appearance dead. West of these mountains the grass
is of a larger growth, in clusters, and hence the name of
bunch grass, which has a second or fall growth. Plains and
mountains both exhibit them ; and I have seen a good pas-
turage at an elevation of 10,000 feet. In this spontaneous
product the trading or travelling caravans can find subsit-
ence for their animals; and in military operations any num-
ber of cavalry may be moved and any number of cattle may
be driven ; and thus men and horses be supported on long
expeditions, and even in winter in the sheltered situations.
Commercially, the value of the Oregon country must be
great, washed as it is' by the North Pacific Ocean, fronting
Asia, producing many of the elements of commerce, mild
and healthy in its climate, and becoming, as it naturally
will, a thoroughfare for the East India and China trade.—
Frernont's Exploring Expedition to the Rocky Mountains.
The Directors of the Orleans and Bordeaux Railroad
Company are making every prepiration for its being opened
on the 23d inst. as far as Tours. The Princes have been in-
vited by the municipality of Tours, and many other per.
son es by the Company. There will be a grand dinner in
the Town-hall. Yesterday the carriage intended for the
King and Royal family was taken to the Orleans station in
Paris. It is painted deep blue, and has all the decorations
of the Royal equipages with the crown on the top. The,
directors of the Messageries Royales have entered into a con-
tract with the Company for the conveyance of their dili-
gences to Tours, insuring it an annual receipt of not less
than 800,000 f. as a minimum.—Galignani of Tuesday.
A CANDIDATE FOR THE WEST RIDING.—We have
heard some conversation in this neighbourhood as to the
man to be proposed at the next general election as the col-
league of Lord Morpeth, and Mr. Cobden's name has been
mentioned. We trust dud this suggestion will find univer-
sal aeeeptanee.—Sheffleid Independent.