The Sun.
London, England, 1848-01-19 00:00:00

141:1E SUN, LOND ON, WEDNESDAY

by him et their last meeting should be given to the
directors for their labours during the past year, for those
who looked at the quantity of business they bad trans
acted could not fail to be of opinion that they had
been called upon to give a greater amount of labour
and time to the institution than during the preceding
or any former year—(Cheers)—but finding that such
a proposition was contrary to the feelings of the
managers, he had deferred to their opinion.—(Cheers.)
Mr. H. B. REYNOLDS felt great pleasure in second-
ing the proposition, and as they had a great deal of
business to transact, he would content himself by
saying that he agreed most cordially in all that had
been said by his friend. He considered that the
report spoke far more truthfully and eloquently of the
merits of the directors than anything he could urge
on their behalf.—(Hear, hear.)
The proposition was carried unanimously.
The CHAIRMAN said—Gentlemen, on behalf of my-
self and my brother directors, I respectfully beg to
tender you our best thanks for this additional mark of
your confidence. Gentlemen, as one of the original
promoters of this association, I feel on this occasion—
the seventh time we have yearly met here—delighted
at seeing so much interest evinced in the welfare of
the association—(Hear)—and,every day convinces me
that it is destined to become one of the greatest institu-
tions of which this country can boast. Its advan-
tages develop themselves more and more as it pro-
gresses. The experience of the past year shows its
absolute necessity and striking importance. 2,200/.
have been paid to eleven families during that period ;
and it is highly probable that those families would
have been left entirely destitute—at any rate they
would have had to encounter much inconvenience and
distress—if this institution had not been formed to aid
them.—(Hear.) It may now be said that the so-
ciety has placed them in a position of comparative
comfort. I need hardly say that we feel the deepest
interest in the welfare of the institution, and that
no exertions, no amount of labour on our parts, is
wanting ;to promote its increased success.—(Hear.)
lam sure I: am uttering the sentiments of those
about me when I say that it is impossible for anybody
of men to have a greater desire to promote the inte-
rests of any institution than those gentlemen have to
promote the increased prosperity, of the Provident
Clerks' Association.—(Hear.) No body of men
could feel greater interest in its welfare, or put for-
ward greater exertions to promote that end, than they
do.—(Cheers.) You, of course, can aid us very
much, as the report has mentioned ; every one, how-
ever humble, can do something to promote so good a
work. Let it be borne in mind that individual exec

tions increase our aggregate strength, and that in
promoting the objects of the institution by the intro-
duction of new members, you are benefiting your-
selves as well as your friends.—(Cheers.) You have
recently been informed, by advertisement and circular,
that four directors, whose term of office has expired,
offer themselves for re-election. The expiration of
the term of office of a similar number takes place
every year, and a very wholesome provision I consider
it to be. The names of the gentlemen who retire and
offer themselves for re-election are Mr. John James.
Iselin, Mr. William Jeremiah Jordan, Mr. NVilliam
Maitland, and Mr. W. S. Sawtell. The gentlemen
who offer themselves for election are Mr.
John Parry, of the house of Messrs. Fletcher,
Alexander, and Co., and Mr. Charles Reed, of the
firm of Tyler and Reed, printers. Now, unless
both these gentlemen retire, there is no alternative
but to proceed to a ballot. (After a short pause)—l
merely waited to know whether the " silence" of
these gentlemen " gives consent." Assuming, then,
that they intend to go to the ballot, I think it my
duty to state, on behalf of the gentlemen with whom
I have co-operated so long, that they are every way,
in my opinion, entitled to your confidence.--
(Cheers). I think it right to state, thus much for
the information of those who have taken an active
part in the opposition which is about to be offered to
their re-election. You have, by your recent vote,
approved of our past proceedings, and unless some
good cause can be shown for removing those gentle-
men from the board who have worked well I confess

I really cannot see what object will be gained by
those who oppose them. I trust my word will be
taken ; I know several gentlemen here ; I have known
them long ; and they will not believe that I would
speak thus of my colleagues if I considered that they
did not deserve the eulogy I have passed upon them.
I feel I am but discharging a duty I owe them when
I say that the gentlemen with whom I have co-
operated so long and so satisfactorily, and without
the slightest manifestation of dissension, are worthy
of your confidence, but at the same time it is for you to
exercise your judgments with respect to them, and to
decide whether you will give your confidence to them or
to the gentlemen who will be proposed to•night.
Each gentleman will be nominated, and each pro-
poser and seconder will have an opportunity of stating
the merits of each candidate, and it will then he for
you to judge, as I have said, who are the most fitting
to be elected managers. I liave great pleasure in
taking the lead by proposing the re-election of Mr.
J. J. Iselin.
Mr. PRIMETT seconded the motion.
Mr. BELL enquired the qualification necessary to be
possessed by those seeking election as managers ?
The CHAIRMAN replied that an assurance for 3001.
and the payment of 11. ls. annually to the benevolent
fund, was the qualification required.
Mr. BELL inquired if these conditions had been
complied with in all cases ?
The CHAIRMAN replied that the managers had in
every case complied with this prevision.
Mr. BELL wished to know if the same observation
would apply to the new candidates ?

The CHAIRMAN said it did.
Mr. BELL said he was opposed to this provision,
and wished to avail himself of every opportunity that
presented itself of opposing it. He wished to know
distinctly if each of the new candidates was assured
for 3001. and paid U. Is. a year to the benevolent
fund ?

The CHAIRMAN replied that one of the gentlemen
bad been an assurer for some time. Mr. Reed had
become a member since last September, and had paid
but one quarterly instalment of the premium upon his
share.—(Cries of " Oh, oh I")
Mr. J. W. WELCH (the Deputy:Chairman) said,
before he proposed the re-election of the gentleman
who stood next on the list (Mr. W. J. Jordan), he
wished to say a few words with respect to the elec-
tion. He quite agreed with the observations of the
Chairman, that they possessed a wholesome power of
control over the Board of Management, because they
11 ere thereby enabled to dispossess any member of
that board who had improperly performed his duties,
when his term of office periodically expired. The
Provident Clerks' Association was an institution that
required from its managers a great degree of
attention ; it was necessary that they should possess
mature experience, and, in short, it was an institution
which required the devotion of more time on the part
of the managers to it than was ordinarily required in
the management of life assurance offices, because they
were aware that the labours incidental to a benevo-
lent fund were combined with those of an ordinary

life assurance office.—(Hear,) He could, therefore,
reiterate, in the strongest terms, the statement of the
Chairman, that every gentleman who had a seat at
the board had done his duty, and promoted the in-
terests of the association to the beat of his ability.—
He was not at all aware of the nature of the opposi-
tion intended to be offered to the re-election
of the four gentlemen whose names had
been mentioned. (Loud cheers.) The only
ground he had heard stated for the election of the two
new candidates was the necessity of infusing fresh
blood into the constitution of the board.—(Cheers and
counter-cheers.) That was, he admitted, a very
wholesome principle, if the constitution of the board
was unhealthy—(Loud cheers)—if the blood did not
circulate freely, it might be necessary to infuse new
blood; but, standing there as one of the managers,
he declared—and he challenged any one to deny the
statement—that the blood had circulated freely, and

that the constitution of the body was healthy. Ile
looked round him, and beholding the new members—
the new blood infused at the last election—he con-
fessed he had yet to learn why any opposition had
been got up to the gentlemen now about to retire,
but who, in accordance with the ordinary custom,
offered themselves for re-election.—(Hear, hear.)
The power they possessed was wholesome and salu-
tary, because they were enabled to put a check on the
further proceedings of those who had done wren-to.;
and if there was no charge against these four gentle-
men, the exercise of the power they possessed on this
occasion was injudicious, inasmuch as such a proceed-
ing was eminently calculated to cause confusion in
their affairs.—(Hear, hear.) He was addressing
himself to a body of gentlemen connected,with the com-
merce of the country, and he would explain his view
of the matter by a plain illustration. If the junior
partners in a house of extensive business were
removed at the expiration of one or two years, and if
the clerks were changed every year or second year,
what he would ask would be the state of the affairs of
that establishment ? Why it was obvious that the
business would by these frequent changes have got
into b state of the utmost confusion, as it required
time to enable a man to become acquainted with the
details and the practice of an office.—(Hear, hear.)
The illustration applied with still greater force to an
institution like this, as time was required to enable
those elected to the management to learn its details,
its nature, and its character ; and if they were to be
removed after acquiring this information, or as soon
as they acquired it, the interests of the institution
could not thereby fail to suffer.—(Cheers.) He had
not the pleasure of being acquainted with either of the
candidate, ; therefore in the observations he had made
he trusted they would recollect he had only spoken as
his duty to the institution dictated. The members of
the National Provident Institution passed a resolution
tweire months ago to the effect that a certain number
of the old managers should retire every year, and that
they would not he eitele for re-election for sometime;
but 00 Dkjectionable bad the Rly been found that a

that a meeting is to be called to rescind the same. He
might say that he respected ever.; one at the board,
and that he had no interest in the in,titution beyond
seeing it prosper. lle felt great interest in it, because
he considered it calculated to do much good to all the
clerks of this country, and he wished to see its object
extended, not only in the mutual insurance, but in
the benevolent department. It was the duty of all
to make provision for those accidents which no fore-
sight could guard against, but especially for those
whom their death might, but for such a provision,
leave destitute. He, for one, was ready that moment
to tender his resignation if any gentleman in the room
considered that he could do more than he had done for
the Provident Clerks' Association ; because, having
its interest deeply at heart, all he desired was
to see them promoted to the utmost, and to accom-
plish all the good which he believed it capable of. He
wished, with that view, to propose the re-election of
a gentleman whom he had introduced, and who had,
in return, introduced several more, which was the
best proof a man could give that he had exerted him-
self for the benefit of the institution.----(113ar.) He
begged to propose the re-election of Mr. J. J. Jordan.
Mr. Bluer seconded the motion.

Mr. B. PRICE proposed the re-election of his friend
Mr. W. Maitland. In recommending him to their
favourable consideration, he felt satisfied if they had
witnessed his zeal in advancing the interests of the
institution, as he had, they would join with him, and
he was sure they would do so in cordially support-
ing his resolution. It must of course occur to all of
them that a great deal of time and attention were
requisite for the proper management of the institu-
tion, and although all the gentlemen entrusted with
the management were zealous and assiduous in the
discharge of their duties, he was satisfied that none
of them discharged their functions more zealously
than Mr. Maitland.—(Cheers.) He succeeded one
of the original promoters of this institution, Mr.
Woodward, of Bristol. He assured the meeting that
he brought with him all the talent possessed by that
gentleman, and no doubt equal energy. Ile bad
brought many new assurers, and he was convinced
that he had the interests of the institution at heart.
—(Hear.)
Mr. STEVENS seconded the motion.

Mr. JEPPS prOposed the re-election of his friend Mr.
Sawtell, and said he did so with a great deal of plea-
sure, because he had devoted a great deal of his time
to the promotion of the interests of the institution, and
was well conversant with its working, and he need
not tell the meeting that time was required for the
mastering of its details. He was sure that the energy
he had used in the past would be put forth with in-
creased energy in the future, if they were pleased to
re-elect him.
Mr. NISSEN seconded the motion.
Mr. COLEMAN wished to offer a few observations to
the meeting. They had arrived at that period of the
business when the gentlemen who wished to propose
a new candidate must either elect to proceed or stay
their proceedings, and. when the gentleman already
nominated and seconded might, by a withdrawal of
the new candidates, be elected without opposition.—
(Hear, hear.) , After the way in which the nomina-
tion of the old managers had been received, it was
obvious that they would be re-elected; he, therefore,
advised the new candidates to withdraw their preten-
sions. If there was a stimulus wanting to induce them
to re -elect the gentlemen so proposed, it was to be found
in the report. That, he considered, was a sufficient
reason why they should all be re-sleeted. If they
had prospered well for six or seven years, and
found that each year the number of policies
and' the amount assured had increased—if the past
offered anything like a guide of what would be done
in the future, as he, considered it did, then was he
justified in sayimg that these gentlemen had done
their duty, and that they, as Englishmen, ought to
invest them with new authority to carry out to a still
greater extent the grand objects which the institution
had in view.—(Hear.) He was confident he was ad-
dressing an intelligent body of men, who well under-
stood and appreciated the high motives by which they
were actuated; and, looking at the success which had
heretofore attended the institution, he considered that
they ought to give these gentlemen a renewed certi-
ficate of their confidence in them.—(Cheers.)
Mr RICHARD BELL thought that after the speech of
the gentleman who had just resumed his seat it would
have been as well if the new candidates had at once
signified their intention of withdrawing their opposi-
tion.—(Hear, hear.) He quite agreed with the rules
of the society, which enabled those gentlemen to come
forward upon the present occasion, but if those rules
were annually to be called into play, the effect would
be most ridiculous, and highly injurious to the in-
terests of the institution. In some of the committees
of the corporation of London, upon occasions when
they have any important work to do, which would be
interrupted by the returning of some of the members
by rotation, they frequently make the chairman per-
manent; the consequence was that the new
in-coming members get into such a habit of deferring
to the chairman on account of his supposed expe-
rience, that it becomes a confirmed habit with them,
and an undue influence is thereby possessed by the
chairman. No injurious effects would, however,
follow to this institution by making the chairman
permanent, because, were the officers to be changed
every year, they would have the chairman and some
of the directors, instead of giving instructions to the
clerks and subordinate officers, receiving instructions
themselves from these parties. He really thought it
a most preposterous thing to be continually electing
inexperienced persons as directors of the institution,
and if such were done he, for one, should have con-
siderably less confidence in the institution than he
already possessed. He had effected an assurance
with the society, but would not have done so had he
believed that the constitution of the board would be

liable to continual changes. He knew nothing at all
of the new eandidates ; he believed they were per-
fectly honourable men ; but he thought it was the
duty of the meeting to endeavour to protect their
own interests, and he did not know how that
could be accomplished better than by securing the
services of those gentlemen who had already
proved themselves good and worthy men, and able to
promote the prosperity of the institution.—(Hear,
hear.) The rule ought, in his opinion, to be a dead
letter so long as it was not necessary to apply it to
any individual of the board who by his conduct might
have become obnoxious to the institution or to society
generally ; but so long as those gentlemen entitled
themselves by their conduct to th 6 thanks of the
society, it was advisable that they should not be re-
moved from their seats at the board.—(Hear, hear.)
Mr. H. B. REYNOLDS had been connected with the
society from its commencement, and it was with deep
regret that he now saw two new candidates offer
themselves for election when there was no vacancy
existing, for they could only succeed at the expense
of two tried and trustworthy servants—(llear)---
he thought that they would be showing a want of
justice, or at least a want of courtesy. Such conduct
would have a bad effect upon the board of manage-
ment. Any person that the meeting might send up

to the board would no doubt be received with the
right hand of fellowship, but it would be a source of
regret to them if they were dismissed without any
fault of their own. He did not think it would be in
human nature if it were otherwise. Their directors
were in some sense their servants, and there was a ♦ast
difference, as many present knew, between serving a
grateful and an ungrateful master. There would be
no doubt the same conscientious discharge of duties,
hut the heart &would not IH in the work.—(Hear.)
He did not know a better way of throwing wet
blanket over the concern than by dismissing those
persons who had hitherto performed their work well.
—(Hear, hear.) He thought, therefore, that if those
gentlemen who were candidates would withdraw, that
act would create a strong claim in their behalf when-
ever any vacancy might occur at a future period.
Mr. H. K. &WITHERS said that the meeting appeared
to be fighting a mere shadow. No person in his
senses could suppose for a moment that either of
these gentlemen would be elected. The meeting
seemed to think that some wonderful danger was
hanging over the institution. He for one was not so
frightened of the result, and had no doubt that the
meeting would warml3, support the four gentlemen
whose names were before the meeting for re-
eleqion.—(Cheers.) _ _ _

Mr. CILARLES READ said that he was one of the
candidates, but that he was not one of the " opposi-
tion." He was before the meeting as a candidate
from very different feelings to that of opposition.—
(Hear, hear.) When he proposed his name, at the
solicitation of several members of the institution, it
was simply 'manse he thought that at that
time a vacancy had occurred in the election
in consequence of the death of the late
lamented Mr. Lloyd. He did not therefore agree
with the gentlemen who had termed this a factious
opposition, and urged the necessity of nipping the
monster in the bud in order to prevent the institution
from suffering. He believed that the success of the
institution rested upon a much more secure basis than
the eflbrts of those gentlemen who had hitherto ably
performed their duties as directors.—(Hear, hear.)
He had a full confidence in the direction as a body,
but he thought it was a wholesome regulation that
when any member of the direction retired there
shciuld be some pause before his re-election took
place. A regulation similar to this was adopted
at the National Provident Institution, and
it was found tots: work well. (Hear, hear.)
He deprecated any system which tended to detract
from the honour or merit of any men, or which said
" we are better and ye are worse," or supposed that
the gentlemen on that side of the green baize were
better than those who sat with him upon the benches.
They were all honourable men—(Hear, hear)—and
they were all determined to establish the institution
upon a secure and widely extended basis.—(Hear,
hear.) He thought that the operations of the insti
fution reight be very considerably extended in the
provinces. By restricting the system nothing was
pined; they must endeavour.to be catholic in their