The Sun.
London, England, 1848-07-01 00:00:00

associations, and assured for one or two years, he was
placed on the same footing with respect to the profits as
f all the other assurers. He trusted that the board would
k take the subject into their consideration, and, if for the
benefit of the institution, would adopt the plan pro-
posed.
After a few observations from some other members,
Mr. WELCH said he had been an assurer for four
years and eleven months, and, consequently, had good
reason to complain, if complaint was made at all.—
(Laughter.) But his friend Mr. Ratray had satisfied
him that it would be much more to the general interest
of the association not to make any alteration at that
early stage of its career, but to wait quietly and see the
working of the division, which was now proposed. He
felt satisfied that the early working of the association,
producing as it had done a profit of 33 per cent., was so
extraordinary and satisfactory, that the anticipations
they had formed of its success must be more than rea-
lised. They were in fact on the high road to prosperity,
and nothing but a national calamity, in the shape of
general sickness, would check the present source of
their success. He begged, in conclusion, to state on his
own behalf and on that of his colleagues upon the direc-
tory, that they would be happy to receive any sugges-
tion from any member of the association.
Mr. JAMES I. SCOTT wished to offer a few observations
to the directors and the meeting with respect to the re-
commendation in the report of the actuaries, that endow-
ments and assurance effected under table A 2, should
not be allowed to participate in the profits. Now it
appeared to him, and he was sure many would agree
with him, that if a man assured himself in the society
at an early age for a certain amount, payable on his
attaining a certain age, and continued his payments
from year to year, through all those disasters attendant
upon all professions, that he was entitled to some share
of the profits.—(Hear, hear.)
Mr. RATRAY felt the furce of the observations of
the Hon. Gentleman, and read the passage of the report
referred to, the effect of which was, that the recom-
mendations were made simply for the adoption of the
managers and shareholders. Mr. Scott must be aware
that such assurances as those he had referred to were
far from profitable to assurance companies.
Mr. &OTT was quite aware of the fact. The
average duration of life was far beyond the
period at which his policy was payable, namely,
lat fifty ; and if a man could be sure that
even the amount of the different premiums would be
paid on his attaining a given age, or in the meantime,
which was most important, he considered that he bad
little to complain of—(Cheers)—but he could not under-
stand why he and otners should be deprived of the
slightest participation in the profits.—(Hear, hear.) He
did not mean to contend that assurers of his class were
entitled to the same profits as those whose po-
licies were only payable at their deaths, 'but
he did mean to contend that they were entitled to some
share, if only one-half, or even one-third.---(Hear.) He
was convinced, from the great attention which the direc-
tors devoted to the interests of the institution, that his
recommendation should receive the utmost attention.
The CHAIRMAN said the board would consider the
suggestion.
On the motion of Mr. COLMAN, a vote of thanks was
then unanimously passed to the chairman and managers
of the institution for the manner in which they had
conducted the business of the meeting.
The CHAIRMAN, in returning thanks, said he would
repeat what be had said many times before, that any
suggestion which could be made would receive the best
attention of the board.
Mr. GOSBEL said, they would all admit that they
owed a deep debt of gratitude to the talented and re-
spected secretary, Dr. Mullinder, who bad so ably ma-
naged their affairs, and inlet great degree added to the
success of the institution, and before they separated he
thoughtitbutr
right that they should tender him their
best vote of thanks.
A vote of thanks was then proposed, seconded, and
carried with great unanimity.
Dr. MULLINDER briefly replied. He was quite unpre-
pared for that mark of their kindness, and could only
say that he thought he was scarcely deserving of it; for
if he had done his duty, he received his reward every
day in the kindness with which be had been met by
every member of the association. Not only in London,
but at Bristol, Birmingham, and other places, he was
received with open arms, and therefore his life was one
continued round of kindness shown to him by the mem-
bers at large. He bad received great assistance from
the medical officers in the discharge of his duties, and
also from his friend (Mr. Ratray). to whom he was under
the deepest of obligations. Dr. Mullinder concluded by
thanking the meeting for the handsome manner in which
they had tendered him the vote of thanks, and assured
them that he would use his utmost endeavours to advance
the interests of the institution.
A vote of thanks was then passed to Mr. Ratray and
to Mr. George Thomas, one of the late members of the
board, who briefly replied.
The meeting then separated.