The Sun.
London, England, 1851-04-05 00:00:00

SCOTTISH WIDOWS' FUND
AND LIFE ASSURANCE SOCIETY.
The Thirty-seventh Annual General Court of this Society was
he'd within the Royal Hotel' (Glbb'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—
]. That the number of Policies passed during the year had been
716, the sums Assured amounting to 493,169/. 145., and the
annual contributions to 16,6461. tis. 5d., being an excess over
those passed in the previous year to the extent of 116 in
the number of Policies, and of 76,104/. 3s. in the amount
Assured.
2. That the average amount of Assurance passed during the last
thirteen years had exceeded half 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
6,920,591/. 13s. 7d.
4. That the Capital of the Society had increased during the year
to the extent of 142,643/. 3s. 1:1., and amounted at 31st De-
cember last to 2,310,149/. I2s. 2d.
5. That the Annual Revenue of the Society amounted at 31st De-
cember last to 306,511/. 15s. 102.
6. That of the Lives assured by the Society in existence at the
commencement of the year 1350, 94 had died during that
year, the sums for which they were assured amounting to
110,e941. Bs. 4d., and the Bonus additions attaching to the
Policies at the date of their emergence amounting to 27,5131.
Bs. Bd.
7. That the above sum of 110,894/. Bs. 41., 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 CHAIRMAN then rose, and moved the approval of the
Report; and the motion having been carried by acclamation,
he said —You have been 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
neon figustaaared are, therefore, hardly to be challenged—(Heer,
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, after a year somewhat of depression, as that
of 1849 was, at last replaced in the situation of con-
siderable advancement.—(Applause.) We find, for example, from
the report, that, while in the year 1849 the directors had passed COO
policies, they have passed durina the past year of 1850 as many as
716, beteg an increase of 111 over those passed in the previous year.
g(i nrcahltBei
fse3Or
isin. t)g a mi
aoI
cutnt
ht eai
think
alluded
to d
te4hd9aBt,tlo6t9h/le.
Isile4tsha
raeeo rrevenpecoreyrt
encouraging
We also find that upon these lives the amount insured in 1849 amounted
t o 422a,00i /n 1.1,01
iwtohnhei.
Another
e
lfsaaeltfs
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 s 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 to the policies,) to very nearly
seven millions sterling, the exact sum being 6,920,591/. 13s. 7d.
That is the extent of the obligations under which we lie to the public,
who hold °tit' policies. The capital, by which we are enabled so far
to meet these engagements—the really invested capital—amounts to
2,310,149 a 'l2s. 2d., with an annnal revenue of 306,511/. 15s. 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 heard it 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 111. 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 1
believe to be a proper one, I also remark another circumstance in the
management of this Association, which is this, that while we divide
cur 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 nas 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 110,894/. 88. 42., being the original sum
for which they were assured, and the bonus additions attaching to
their policies, is 27,513/. 85. Bd., making altogether the sum of
138,407/. Now, it occurs to me that the sum for which we
have become liable by tile death of our members during the
past year, is very satisfactory_ Vidence of the benefit de-
rived from the Association by the community. The division of this
sum amongst 94 individuals, niut, give to each individual 1,400/. or
1,500 .—a very comfortable sum indeed.—(Hear, hear.) then, coin-
cident with the diminution in the number of lives that have fallen
during the past year, the average mortality has, of course, decreased:
Instead of being 638 per cent., as it was in 1849, it was last year only
57 per cent., upon what might have been anticipated, according to ti.e
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.—(Hear, 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 air. 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 it any member may not have received it, he a ill be supplid
with a copy ot it, by applying at Lae 04fee. In that report a most sa-
tisfactury state is exhibited of the position of the Society.—(Hear,
hear.) I observed in a p: evious part cd my statement, that your affairs
are founded upon facts and figures ; and it will be seen from the
report to which 1 am now referring, that the most careful examina-
tion was made to verily the figures upon which these facts are
based ; and that the result was, that it was foiled 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 a hat 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 somewha: similarly based. We hail them all, nut 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 who 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 tile 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 ethers. 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. GtNN, 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
CADELL, Alexander Pringle, Esq., of Whytbank, was appointed a
Trustee cf the Society, in room
ooff
rSarir
sJoa:grs
eGenit:son•Craig, Bart.,
deceased; the names of the Trustees being—
jaVa.m FsMitchell
Balfour, lnnEessci,E,soqf Pilrig, W. 5..,
Edward Loyd, Esq., banker, Manchester.
The Honourable Iteuverie F. Primrose.
Alexander Pringle, Esq., of Whytbank.
On the motion of Professor AYTOUN, 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.
HIS 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 Dines, Esq., of Parsonsgreen.
John Ravenbill, Esq., banker, Warminster.
Charles Baillie, Esq., advocate.
Archibald Davidson, Esq , Sheriff of Aberdeenshire.
William James Duncan, Esq., Manager of National Bank.
Sir Wiliam Hamiltun, Bart., of Preston.
The Solicitor-General for Scotland.
Archibald Allison, Esq., Sheriff of Lanarkshire.
George Dundas, Esq., Sheriff of Solicirkshire.
* The Very Rev. Dr. Jenne, Mager of Pembroke College, Oxford.
* Sir Charles Adam, K.C.8., Greenwich.
* The Rev. 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 MyMe, Esq., W.S.
Alex. Pringle, Esq., of Whytbank.
James Tytler, Esq., 01 Woodhouse-lee, W.S.
George Gibson, Esq. , merchant, Leith.
William Wilson, Esq., W.S.
Sir Adam Hay, Bart., of Haystoun.
John Cockburn, Esq., merchant.
Henry Cheyne, Esq., W.S.
*John homa s c axe ks
Robert Scott Moncrieff, Esq., advocate.
Alexander Thomson, Esq., W.S.
T
"Iqr.,:rlVen:Sct,..sai.ivocate.
in
*Alexander Dunsure, Esq., merchant, Leith.
'Thomas Beveridge, Esq., Dt
Those marked *, are new appointments.
On the motion of CHRISTOPIIER WooD, jun., sq., seconded by the
Very Rev. Principal M*FaILLANE, the thanks of the meeting were
given to the Chairman for his conduct in the chair; and the Court
thereafter adjourned.

WILLIA:MIye
JOHN' MACKENZIE, Manager.
LONDON ino,mep
8:1:am:et:: I:treet.
ildanriky-.lane.
..litorrNteßptD,E.aSnAiccaY Secretary.
Rev.GEO RJGOEH NY°JUAYC GK'SE°E:sq.: "11,
Publisher,
it'
iesrh
en:.
Esq., Barrister, Temple,
DAVID 11ILL, Esq., East India Howie.
CHARLES EDWARD POLLOCK, io
JOHN MURRAY,
SAMUEL LA[NG, Esq., Chairman of Brighton Railway.
OFFICE-4, ROYAL
HUGH. WXC EXCHANGE BUILDINGS.
KEAN' Agent.

pROMOTER LIFE ASSURANCE AND
ANNUITY COMPANY.
No. 9, Chatham-place, Blackfriars, London.
Established in 1526.
Subscribed Capital, 240,0001.
This Society effects every description of Life Assurance, both Do-
mestic and Foreign, on most advantageous terms, either on the Bonus
on Non-Bonus systems.
Tables of Rates, with all further particulars, may be obtained at
the Office, SAWARD, Seczetuy.

IN SIX LANGUAGES-FORTIETH EDITION.

CONTAI24II4O THE REMEDY FOR THE PREVENTION OF

Illustrated by One Hundred Anatomical Coloured Engravings on

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ON PHYSICAL DISQUALIFICATIONS, GENERATIVE INCA-
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A New and Improved Edition, enlarged to 196 pages, price 2s. 6d.
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All Communications being strictly confidential, the Authors have
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PAST I. treats of the anatomy and physiology of the re-productive
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PAST 111. treats of the diseases resulting from imection, either in
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PasT IT. contains a Remedy for the Prevention of Disease by a
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This important part the Work should not escape the reader's
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PART V. Is devoted to the consideration of marriage, and its du-
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COLDIAL Ileum OF STRIACUM is exclusively employed in
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