The Sun.
London, England, 1851-05-16 00:00:00

MAJORITY-NOES, 359.

LONDON. SUBURBAN, AND HOME COUNTIES
PERMANENT BENEFIT BUILDING SOCIETY.
This society held a public meeting on Wednesday, at
the George and Vulture City Hotel, Geurge-yard, Lom-
bard-street ; Mr. W. Aldridge took the chair.
No premium or bonus, it appears, is charged by this
society to members borrowing, advances of money being
made in the order of application, thus avoiding the
ruinous consequences of selling the right to an advance
to the highest bidder. The profit made upon every
purchase is apportioned equally among the members.
This is done by assuming that leasehold property re-
turns, in the shape of rent, 81. per cent. to the landlord,
and that the property is of the average value of 114
years' purchase. The amount of interest to be paid is
calculated by Mr. Neison, the actuary, at 51. per cent.
upon the purchase money for 114 years. The interest
and purchase money added together gives a
total sum to be paid by borrowing members ;
this, divided by the annual rent, gives a
quotient of fifteen years, the period it would take
tor a member to acquire absolute ownership of his
dwelling, by simply paying his rent to the society. In
the table, an allowance is made by the actuary in his
calculations of 21. per cent. out of the rent in favour of
' borrowing members, leaving with the compound interest,
6/. per cent. for the investing members, fairly and safely
obtainable, thus insuring strict equity and mutual gain
to all the members. The table is constructed on a scale
of payments from five to fifteen years, so that members
who can atford to put by a part of their incomes may
repay the purchase money in any less period they
prefer.
Mr. HARVEY, the secretary, said the society was es-
tablished to remedy the defects and inconveniences ex-
perienced in other societies of this nature. The promo-,
tors of the society had a full conviction that its plans
were such as to give satisfaction to all parties. No re-
demption fee, or any charge of that kind, was required'
Mr. Neison, who held the first position among actuaries,
certified that the table in the prospectus might be fairly
and safely adapted for the purposes of the society, upon
tit() terms and conditions set forth in that prospectus.
After the transaction of some formal business, the
meeting separated.

BETTER LATE THAN NEVER.—A poor man named
Mgdahon, lately discharged from Kilrush Workhouse, died
on Wednesday night near Carrigaholt, in the county of
Clare, and was buried on Thursday morning without a coffin.
The people at whose house he died stated that he came tot-
tering to their door on Wednesday evening for relief; after
going a few paces distance he fell; they then brought him
in, laid him on a wisp of straw near the fire—he died. They
buried him early in the morning—Could not stand the fear-
ful bad odour from him—could not get a coffin. The coroner
came on Friday, disinterred M'Mahon. The verdict-" Died
of starvation." On Saturday the relieving officer came and
again disinterred him for the humane purpose of putting a
c,ffin on, by order of the guardians. The proverb "killing
wish kindness" is outshone by them, for they are kind even
after the man is killed. Those who would root up thegraves
sooner than let a poor man go without his last jacket must
have been maligned—they must have clothed their live
paupers well. Limerick and Clare Examiner, April 30.

MARRIAGE IN HIGH LIFE.—The marriage of
Alexander Stewart, Eq., of Ards, in the county of Donegal,
nephew of the Marquis Camden and cousin of Lord Lon-
donderry, with the Lady Isabella Toler, third daughter of
the CountessDowagerliprbgry, will ake place en Satur-
day mat.

Pit-TWAY-

MAY-