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

THE PROVIDENT CLERKS' 'MU-
TUAL BENEFIT ASSOCIATION.
The Seventh Annual General Meeting of the mem-
bers of the Mutual Life Assurance department of
this excellent association, was held at six o'clock on
Monday evening, in the large room at the London
Tavern. Mr. Richard Henry Jones, the chairman
of the board of management, presided.
Amongst those present we observed Mr. G. Shep-
pard, Newcastle-on-Tyne ; Mr. orignall, of Bir-
mingham; Mr. W. C.Lowne, Norwich; Mr. J. King,
Exeter; Mr. E. Bell, of Neath ; together with Dr.
Jones, A. Smee, Esq., F.R.S., W. Rattray, Esq.
G. Thompson,'Esq., and Mr. J. I. Scott. There:was a
very numerous attendance of members.
Dr. MULLINDER, LL.D., the Secretary, having
read the advertisement convening the meeting,
The CHAIRMAN rose and said—Gentlemen, in taking
the chair on this occasion, which I do in my capa-
city as chairman of the board of management, I
have to request your kind indulgence and forbearance.
It became my duty, therefore, and it is one which
I undertake with: a great deal of pleasure, to
conduct the business of the evening. I hope to do
se with the strictest impartiality throughout our
whole preceedings ; and I trust at, the termination of
the business, that my conduct in the chair will re-
ceive your approbation.—(Hear, hear.) I will now
read the report of the board of management for the
past year. The Chairman then read the report as
well as the balance-sheet, ofwhich the following will
be found a succinct abstract :
ABSTRACT OP TUB SEVENTH ANNUAL REPORT OP
THE PROVIDENT CLEW' ASSOCIATION.
" Each succeeding year the managers have in-
creased pleasure in coming before the members at the
annual meeting, because each successive report shows
the increased prosperity of the association. The year
1847 has been one of a peculiarly' trying nature on
account of the dearness of provisions, threatened
scarcity at the commencement, and the vast amount
of sickness, together with a severe commercial panic,
which has een specially felt by all connected with
commercial affairs, .and materially tended to retard
life assurance. Notwithstanding such drawbacks the
progress of the association has been great; last year
the board reported that 374 policies had been issued,
for an aggregate of 69,200/. ; they now announce that
in 1847 they have issued 417 policies for 84,7501.,
being the largest amount of business done in any year
since the formation of the association. During the
past year 527 proposals were made to the office, of
which 412 were accepted, 57 declined, 14 withdrawn,
and 44 waiting examination.
" At the special meeting held on the 18th of Ja-
nuary, 1847, power was given to the board to accept
proposals above 6001., but not exceeding 1,000/. on
one life. Since then they have received nineteen
proposals for sums exceeding 500/., of which
ten have been accepted, three declined, six wait-
ing examination, and the board being desirous of using
such enlarged power with caution, and until a fair
average of such 1,0001. risks should be obtained, de-
termined to re-assure a portion in another office.
From the commencement of the assurance the rate of
mortality has been uuprecedentedly small, for up to
the end of 1846 five deaths had only occurred, making
claims to the amount of 6001. ; but although the rate
of mortality, as given by the Registrar-General for
the past year, has been in excess seven per cent. over
ordinary years,:yet the association has only been called
upon to pay during the year just closed 2,2001. upon
eleven policies, being scarcely one per cent. on the
whole amount assured. Two of these cases were re-
markably illustrative of the value of life assurance.
One was a sudden death from immigration fever, the
other an accident caused by the incautious use of fire-
arms (not by the assurer, but strangers), both casual-
ties having occurred in Liverpool. Under this head
the board ,have to regret the loss of their highly-
esteemed colleague, Mr. C. Lloyd, their late deputy-
chairman, whose seal and indefatigable exertions
commenced with the formation of the association, and
only terminated with his life.
" In accordance with rule 32, the first division of
profits will take place in 1848. The necessary data
has been placed in the hands of W. Ratray, Esq.,
your consulting actuary, in conjunction with Griffith
Davies, Esq., and as soon as the board receives these
gentlemen's report the same will be laid before the
members at a special general meeting.
" The board, acting on the suggestion of the last
annual meeting, convened a public meeting at
the east end of the metropolis, on which
occasion G. F. Young, Esq., presided, ably
supported by J. A. Smith, Esq., M.P. The board,
finding that other assurance offices were making in-
creased exertions to obtain business and disseminate
the benefits of life assurance, deemed it their duty
not to be behind hand, and being desirous of impart-
ing to the members in the country a full knowledge
of the principles and operations of the association, sent
a deputation to'Liverpool, Manchester,-Gloucester, Bir-
mingham, Bath, Bristol, Exeter, Cardiff, Merthyr, and
Neath, and the result was a strong desire on the part
of members and friends that public meetings should
be held. The board, to meet these wishes, and being
desirous of carry ing out the views of the agents to
promote the general welfare of the association, again
sent a deputation to attend a public meeting, which
was held on the 14th of October in Birmingham,
osier which W. Scholefield, Esq,, M.P., ably presided,
and subsequently, on the 25th of October, the wor-
shipful Mayor of Exeter, W. D. Moore, Esq., took
the chair at a public meeting held in that city. The
board have the greatest satisfaction in stating that at
all these meetings, whether public or private, the most
lively interest was shown, and a strong feeling to pro-
mote the success of the association manifested, and
the board have the pleasure of further adding, that
their personal acquaintance with the medical referees
and agents has fully confirmed the judgment exercised
in their original selection.
" The board, on the subject of deputations, desire'
to make one or two observations. First, the fact of
personally coming into contact with country members
who are unable to attend the public meetings
in London is calculated to inspire confidence, and to
show that the benefits of the association are common
to all ; secondly, that they afford opportunities for
explanation and information, which cannot be com-
municated by writing; thirdly, that they afford
the best means of diffusing more widely a knowledge
of the advantages of the association ; indeed the depu-
tation received many pleasing instances of the effi-
ciency of such a mode of procedure, and of the
gratification with which country members hailed their
visit. The board, on the subject of deputations,
express a strong conviction that by periodical visits
to the provinces, that spirit which it is the aim of the
association to encourage will be most efficiently pro-
moted. The board consider themselves, and the
members at large, under deep obligations to those
gentlemen who so kindly and ably presided at the
public meetings, and to the persevering exertions of
the agents and local committees in promoting them.
By the balance-sheet, which had been duly audited
by three members, and which had been open for the
inspection of members one week prior to the meet-
ing, it appeared that although the Board had paid in
claims, for the past year, 2,2001., it had increased the
funded property by 2,5001., which now amounts to
10,5001., independently of the guaranteed fund ; the
annual income from premiums and interest on
stock being about 6,800/.
" The report then alluded to the fact, that by
Rule 7 four managers would go out of office by rota-
tion, but who offered themselves for re-election, and
that two other members duly qualified had offered
themselves as candidates.
" The report, in conclusion, stated that the board
felt that but one feeling would pervade the meeting
that they had used their utmost endeavours to
promote the prosperity of the association,
that great good had ,attended such exertion, the board
pledging themselves to Unceasing endeavours, and
calling upon every member, whether in town or
country, to combine with them in rendering the Pro-
vident Clerks' Association one of the moat useful in
the kingdom."
The reading of the report was received with re-
peated bursts of applause,- that portion which stated
that " in 1847 the directors had issued 417 policies
for 84,7501., being the largest amount of business
done in any year since the formation of the associa-
tion," being received with prolonged applause.
The CHAIRMAN then went on to say, that it only
remained for him to move thet the report which had
been read be received, adopted, printed, and circu-
lated, according to the discretion of the managers.
Before, however, he put the motion he expressed his
readiness to hear any observations which the members
might think proper to offer. No response having
been made, he, after a pause, put the motion, and it
was carried unanimously.
Mr. HONEY then rose to submit the following mo-
tion for adoption :—" That the best thanks of this
mecting be presented to the Board of Management
for their attention and devotion to the interests of the
association, and that the sum of three hundred
Pounds be awarded them, for their valuable services
during the plot year." In doing so, he said that the
vastly increased amount of business that had been
transacted in the I;fe department of the association,
during the last year, I),?ci much exceeded the very
sanguine expectations he ham formed, and he was sure
the members would coincide with him, when he said
that the success which had attencitZd that department
Was altogether beyond the expectations they had
formed, when they enrolled their num, a as members.
—(Cheers.) There could be no doubt that the euc-
cess of the institution was mainly owing to the great
exertions of the present managers, and to the gentle-
' en who were instrumental in establishing it.-
- Hear, hear.) He had intended to move that a
reater amount of remuneration than that proposed