The Sun.
London, England, 1851-04-18 00:00:00

N°. 18,274.]

SCOTTISH WIDOWS' FUND
AND LIFE ASSURANCE SOCIETY.
The Thirty-seventh Annual General Court of this Society was
he'd within the Royal Hotel (Gibb's), on TUESDAY the 14th of
March, in terms of, and for the purposes specified in, the articles of
constitution ; Anthony Murray, Esq., of Dollerie, W.S., in the chair,
The minutes of the last General Court were read and approved.
The manager then read the Report by the Directors of the pro-
ceedings of the last year, from which it appeared-
1. That the number of Policies passed dui ing the year had been
716, the sums Assured amounting to 495,1691. 145., and the
annual contributions to 16,6461. 6s. 5d., being an excess over
those passed in the previous year to the extent of 116 in
the number of Policies, and of 76,1041. 3s. in the amount
Assured. -
That the average amount of Assurance passed during the last
thirteen years had exceeded hall a million annually.
3. That the total amount of the Society's engagements at the close
of the year 1850, exclusive of Bonus additions, amounted to
6,920,5911. 135.7 d.
4. That the Capital of the Society had increased during the year
to the extent of 142,6431. as. id., and amounted at 31st De-
cember last to 2,310,149/. 12s. 2d.
5. That the Annual Revenue of the Society amounted at 31st De-
cember last to 306,5111. 155. 10d.
6. That of the Lives assured by the Society in existence at the
commencement of the year 1850, 94 had died during that
year, the sums for which they were assured amounting to
110,8941. Bs. 42., and the Bonus additions attaching to the
Policies at the date of their emergence amounting to 27,5131. •
Bs. Bd.
7. That the above suns of 110,8941. Bs. 4d., and the number of
deaths, were in the ratio of 57 per cent. of what might have
been expected, according to the tables of mortality upon
which the Society's calculations are based.
The CH/Lumen then rose, and moved the approval of the
Report; and the motion having been carried by acclamation,
he said —You have beets pleased to approve of the Report
of the Directors ; and it now devolves upon me, having
the honour to occupy this chair, to address a few
words to you, almost recapitulating that which is con-
tained in the report—not for the purpose of adding any facts to
those which are there stated, but rather in order to endeavour to
impress them more deeply upon your attention. I will begin.
by observing that the facts contained in the report are founded
upon figures, and are, therefore, hardly to be challenged—(clear,
hear)—and it is in consequence the less necessary for me
to say much about them. I may, however, remark that,
these facts are rather agreeable ones, because .we find
ourselves, Misr. a year somewhat of depression, as that
of 1849 wss, at cotreplaced in the situation of con-
sidelnifirstriVancement.—(Applause.) We find, for example, from
the report, that, while in the year 1849 the directors had passed 600
policies, they have passed durint, the past year of 1850 as many as
716, being an increase of 118 over those passed in the previous year.
We also find that upon these lives the amount insured in 1849 amounted
to 422,000/.,wMle in 1850 it amounted to 498,169/. 145., or very nearly
half a million.—(Cheers.) I think that these are encouraging
facts. Another gratif3 ing fact alluded to in the report, and
one which naturally follows from what I have just stated, is this;
that the average of our yearly business has not fallen off, That
for a period of thirteen years, the average amount of business done
by the Society has exceeded- half a million annually. I think that
that simple circumstance shows us that our Association ,
con-
tinues to retain the confidence of the public.—(Hear,
hear.) Our engagements now amount (exclusive of the
bonus additions attaching sto the policies,) to very nearly
seven millions sterling, the exact sum being 6,920,5911. 135. 7d.
That is the extent of the obligations under which we lie to the public,
who hold our policies. The capital, by which we are enabled so far
to meet these engagements—the really invested capital—amounts to
2,310,149/, 12s. 22., with an annual revenue of 306,5111. 155. 10d.
That revenue, you will observe, is more than double the amount
which we paid in the course of the past year, under emerged policies;
and that revenue, as you have heardit stated, so far as it arises from
the Society's capital, is derived, not from uncertain sources, but from
the best security which can be found in Great Britain. There is
another agreeable circumstance mentioned in the report. I believe
it is not unusual—l believe it is to be found elsewhere—viz., That
during the past year the mortality among the members of this
Association has been less than during the preceding year, and
that, too, although of course the number of lives insured has in-
creased, and the ages of these lives have also increased. Notwith-
standing this, the number of lives that have fallen during the past
year is only 94, being a decrease of 17 as compared with 1849, when
the number of persons insured who died was I 1 1. This, as I have
already stated, is an encouraging and agreeable circumstance; but
it is -a circumstance which we must observe with caution, because
it will occur to every gentleman here present, as I dare say
it also occurred to the Directors, that these vicissitudes in the
number of fallen lives only show us the uncertainty of one year's
casualties compared with those of another; and, therefore, we are
justified, as we think, in maintaining our present practice of
a division of profits only at considerable intervals, viz., seven years.
During that time we are enabled to ascertain with more accuracy
than we could otherwise do, the true state state of mortality amongst
our members. While I feel called upon to make this remark, which I
believe to be a proper one, I also remark another circumstance in the
management of this Association, which is this, that while we divide
our profits only once every seven years, we, at the time of declara-
tion, set aside what is necessary not merely to secure a Bonus for the
past seven years, but for the seven years which must necessarily
elapse before another declaration takes place—that is to say, looking
forward to the certainty that some of the policies must fall, by the
death of the members, during the course of the succeeding seven
years, we at the period of declaration, set aside a sum from the real-
ised lends, fur the purpose of meeting the payment of a prospective
bonus upon those that may fall, so that any policy that falls
during the next year, or in any one of the seven years before
another declaration is made, is entitled to receive its share of
the bonus, not only accruing when the previous declaration was
made, but an addition also corresponding to each year that has since
elapsed. In this manner no disadvantage arises from postponing the
period of actual investigation or declaration ; because let a member
die when he may, his representatives draw a bonus for each year that
he has been a contributor to the funds of the Society.
The sum which has already been divided, or which may be
divided amongst the representatives of the 94 persons who died
during last year, amounts to 110,8941. Bs. 42., being the original sum
for which they were assured, and the bonus additions attaching to
their policies, is 27,5131. Bs. Bd., making altogether the sum of
138,4071. Now, it occurs to me that the sum for which we
have become liable by the death of our members during the
past year, is very satisfactory evidence of the benefit de-
rived from the Association by the community. The division of this
sum amongst 94 individuals, must give to each individual 1,4001. or
1,5001.—a very comfortable sum indeed.—(Hear, hear.) Then' coin-
, cident wills the diminution in the number of lives that have fallen

2. Thai

during the past year, the average mortality has, of course, decreased.
Instead of being 631 per cent., as it was in 1849, it was last year only
57 per cent., upon what might have been anticipated, according to the
bills of mortality on which the Society's tables are based ; and this de-
crease in the rate of mortatity is all the more striking, seeing, as I
have already remarked, that the number of members and the aver-
age age of the lives was increased during 1850.—(11ear, hear.)
These are the principal features in the statistics stated
In the report read by the manager. Before proceeding any
further, I may remind the meeting of what has been already
stated by the manager, that we have on the table a report by
three gentlemen Mr. Brown, accountant, Mr. Melville,
W.S., and Mr. Brand, Secretary to the Union Bank—eminent
for their professional qualifications, who were called upon by the
Extraordinary Court of Directors to report upon your affairs. That
report, as has been stated, has been placed in the hands of the mem-
bers ; but if any member may not have received It, he will be supplid
with a copy of it, by applying at the Office. In that report a most sa-
tisfactory state is exhibited of the position of the Society.—(Hear,
hear.) I observed in a previous part of my statement, that your affairs
are founded upon facts and figures ; and it will be seen from the
report to which I am now referring, that the most careful examina-
tion was made to verify the figures upon which these facts are
based ; and that the result was, that it was found that the funds of
the society are safely invested, that Its affairs have been prudently
administered, and that the system of book-keeping and checks
is as nearly perfect as any institution can possess. We
trust that the meeting will regard what is stated in this report,
and also in the annual report just submitted, as very satisfac-
tory.—(Hear, hear.) We have alluded to the successful results of
last year. We do so with perfect confidence, referring not to any
thing in our institution as compared with others, but to its own in-
trinsic and individual merits. Looking around us, we see many in-
stitutions somewhat similarly based. We hail them all, not as rivals,
or competitors, but simply as assistants and fellow-labourers in
the same good work, established for the benefit of their individual
members, and those who may choose to take advantage of the sys-
tem of Life Insurance.—(Applause.) There are various means for
effecting this object, and various ways of taking advantage of this
system, but we think that the experience of thirty-seven years
justifies us in adhering to our own system—a system which we
have found to work remarkably well, and which we find
has passed through at least a few years of trying ordeal, and
I may say with triumphant success. —(Loud applause.) It is, how-
ever much we may regard other kindred institutions with satis-
faction and good will, a natural desire on the part of the Mem-
bers of this Society, to endeavour to find others wha will
follow their example ; and we trust that the results we have
now exhibited will be no small inducement to draw them
towards us. Every one connected with us, has connexions in
some way or other, whether by relationship or otherwise, to whom
he may recommend the example, which he has himself set— of in-
suring his life. We can do so—not in any spirit of selfishness,
because it must be remembered, that of the thousands who have
insured their lives, not one of them will receive the benefit him-
self. They must all die before the benefit of what they have done
can be reaped; and, therefore, it is from no spirit of selfishness, or
with a desire hastily to be rich, that we reccommend life insurance
to others. We recommend it simply upon the principle, and in the
spirit of a well-regulated industry, and of a vigorous and manly
self-denial in the use of those advantages which we derive from
our professional avocations.— (The Chairman resumed his seat amid
great applause.)
On the motion of Dr. GUNN, seconded by Professor SIMPSON, a
vote of thanks was given to the Court of Directors, and to the
Trustees and Office-Bearers, for the manner in which they had
respectively discharged their duties during the past year.
On the motion of the SOLICITOR-GENERAL, seconded by Colonel
GADELL. Alexander Pringle, Esq., of Whytbank, was appointed a
Trustee of the Society, in room of Sir James Gibson-Craig, Bart.,
deceased ; the names of the Trustees being—
IV. Mitchell Dines, Esq., of Parson's-green.
James Balfour, Esq., of Pilrig, W.S.
Edward Loyd, Esq., banker, Manchester.
The Honourable touverie F. Primrose.
Alexander Pringle, Esq., of Whytbank.
On the motion of Professor ArrouN, seconded by the Rev.
BERKELEY ADDISON, the vacancies in the Direction were supplied,
and the Court of Directors were declared to stand as follows :
PRESIDENT.
The Right Honourable the Earl of Rosebery, K.T.
VICE-PRESIDENTS.
Ills Grace the Duke of Buccleuch, K.G.
The Most Honourable the Marquis of Tweeddale, K.T. & C.B.
Sir William Gibson-Craig, Bart., of Riccarton, M.P.
* The Rev. Dr. James Grant, Edinburgh.
EXTRAORDINARY DIRECTORS.
His Grace the Duke of Newcastle.
Leonard Horner, Esq., London.
Daniel Watney, Esq., Wandsworth, London.
Rev. Dr. Robert Macnair, Abbey Church, Paisley.
William Shuttleworth, Esq., Town-Clerk of Liverpool.
An. Murray, Esq., of Dollerie, W.S.
William Mitchell Innes, Esq., of Parsonsgreen.
John Ravenhill, Esq., banker, Warminster.
Charles Bernie, Esq., advocate.
Archibald Davidson, Esq., Sheriff of Aberdeenshire.
William James Duncan, Esq., Manager of National Bank.
Sir William Hamilton, Bart., of Preston.
The Solicitor-General for Scotland.
Archibald Allison, Esq., Sheriff of Lanarkshire.
roke
George
The
Veryll u n da
Rev.s E
Ds qr..,
jSehuenr,
ei f
Mastere of S u e i
or 111 sph ie eb.
College,* Oxford.
* Sir Charles Adam, K.C.8., Greenwich.
* The ltev. Dr. Robert Gordon, Edinburgh.
* William Penney, Esq., advocate.
* The Rev. Dr. Hill, University of Glasgow.
ORDINARY DIRECTORS.
Isaac Bayley, Esq., of Manuel.
Lewis A. Wallace, Esq., Architect.
James Mylne, Esq., W.S.
Alexir
x.na
William
ad.de greilliseDL
o,
unE
Those ssEqmz
marked
rao.,
ref
klWevEa. Whytbank.
James thank.
JGSJohn
gdce
In Gibson,eyk tti
ieuar
EnsElas.
cirq,
to.
merchant,
roll:
had a
nyh
so
ttuo,
W'
S.
rn,
merchant.suLene-
Riloe bnerryt CShc Yt
Scott Me oEnseqr i"e ffW, 'S
•Esq., advocate.
Alexander ThoEmsgscino,
W.S.f
n , advocate. e.
Thomas G. Mackay, Esq., W.S.
sq.,ariaree rneehwant
appointments.Leith.
*Thomas Beveridge, Esq., D.C.s.
On the motion of GURISTOPIIER WooD, jun., Esq., seconded by the
Very Rev. Principal M'Faxmarte, the thanks of the meeting were
given to the Chairman for his conduct in the chair; and the Court
thereafter adjourned.

JOHN MACKENZIE, Manager.
WILLIAM LINDESA.Y, Secretary.
LONDON HONORARY BOARD.

GEORGE YOUNG, Esq., 47, Wimpole-StreetT and
y.
Mark-lane.
Rev. JOHN JACKSON, Rector of St. James's, Piccadilly.
CHARLES EDWARD POLLOCK, Esq., Barrister, Temple,
DAVID HILL, Esq., East India House.
JOHN MURRAY, Esq., Publisher, Albemarle-street. .
SAMUEL LAING, Esq., Chairman of Brighton Railway.
OFFICE-4, ROYAL EXCHANGE BUILDINGS.
HUGH M'KEAN, Agent.

-------
LAURENT'S GRAND CASINO,
Licensed by Act of Parliament.
ARGYLL ROOMS, GREAT WINDMILL..
STREET, ST. JAMES'S.
(Sole Lessee, Charles Emile Laurent, jun., 57, BroMpton-square.)
OPEN EVERY EVENING,
With LAURENT'S UNRIVALLED BAND.
Principal Cornet-a-Pistons, M. Boulcotut.
Doors open at Half-past Eight o'clock—Dancing to cOMMeIIOO
al
Nine an terminate at Half-past Eleven o'clock preoinly.
Admission, Ono

DR. LA'MERT ON THE SECRET INFIRMITIES OF YOUTH
AND MATURITY.
With Plain Directions for their Prevention and Cure.
FIFTY COLOURED ENGRAVINGS ON STEEL.
lust published, in French, _English, German, Dutch, Spanish, and
Italian, in a Sealed Envelope, as. fid., or post-free, from the
Author, for forty-two Stamps,
QELF-PRESERVATION; a
Medical Treatise on the Physiology of Marriage, and on
the Secret Infirmities and Disorders of Youth and Maturity,
unally acquired at an early period of life, which destroy
the physical and mental powers, diminish and enfbeble the natural
feelings, and exhaust the vital energies of Manhood ; with Practical
Observations on the certain Prevention and successful Treatment of
Nervous Debility, Local and Constitutional Weakness, Syphilis,
stricture, and all Diseases and Derangements resulting from India-
:teflon, as adopted by Lallemand, Ricord, and other eminent mem-
bers of the faculty in France. With Fifty coloured Engravings,
Illustrating the Anatomy, Physiology, and Disease, of the Re-
productive Organs, explaining their straetures, uses, and functions,
and the various injuries that are produced in them by solitary
habits, excesses, and infection.
BY SAMUEL LA'MERT, M.D..

37, BEDFORD-SQUARE, LONDON.
Doctor of Medicine. Matriculated Member of the University of Edin-
burgh, Honorary Member of the London Hospital Medical Society,
Licentiate of Apothecaries' Hall, London, Member of the Heinterian
Medical Society of Edinburgh, &c., &c.
This work contains a plain and complete description of the ana-
tomy and physiology of the reproductive organs, and of their relative
conditions in health and disease. The author,whohhasis tsatkudeniesthteo
highest medical honours, as evidenced by the diplomas and testimo-
nials inserted in the work, is the only legally qualified medical man
who has exclusively, and for many years, devoted
the treatment of these complaints. He may be consulted with ad-
vantage by all those whose constitutions may have become deb-
tated through secret practices acquired iu youth, or by the excesses
of later years, whereby the pleasures of life are marred, the objects
of marriage frustrated, and existence itself rendered a term of un-
ceasing misery and regret.
Published by the Author, and may be had of J. Gilbert, 49, Pater-
noster-row ; Hannay, 63, Oxford-street ; Starie, Titchborne-street,
Haymarket; Gordon, 146, Leadenhall-street ; Mann, 23, Cornhill,
or free by post for forty-two stamps, from the author's residence, who
may be consulted on these disorders personally, Or by letter,
TAM tell till two, end from si: tau eight,