The Sun.
London, England, 1851-05-15 00:00:00

filly, 5 to 1 agst Tordesillaa, end 5 to 1 asst Post-tem-
pore Won y a let gth ; the Eletman l'lateti a bad third,
and El z t 51iddleton fourth. Run in 1 min. 6 secs. ;-
The weather was so fine, that weak as the card ap-
peared, a tolerably full and fashienstile company was at-
tracted to the course, including the Earl and Countess
of Eglinton, the Earl and Countess of Zetland, and many
other fa,hionables present on the great day. The ra-
cing turned out remarkably good, and it was made pecu-
liarly interesting by the defeat of Voltigeur, owing, as
nine out of ten believe, to the manner in which the race
was run. Its issue had the ffect of giving the Black
Doctor a strong lift in the Derry betting. It will be in
the recolL ction of our readers that an announcement
was made some time ago that the Flying Dutchman's ap-
pearance at Ascot would be contingent on the match
proving a fair trial of merit; such having been the case,
the Earl of Eglinton declared this afternoon, at a quar-
ter before two o'clock, that the Flying Dutchman would
not start again.
LATEST DERBY BETTING.

8 to 1 agst Plirn.: Minister I 40 to 1 agst Theseus.
20 to 1 agst Black D ctor.
I
Offers to take 11 to 2 about Teddington.
(In the telegraphic report of the betting on the course
on Tuesday, Grecian was returned at 25 to 1 instead of
Neasham.)
ASCOT HEATH-1851.
TUESDAY.
Handicap for the Ascot Stakes of 25 sons. each, 15 ft.,
and 5 only if declared on or before Monday next.
Yrs. et. lb. Yrs. st. lb.
*Cossack a 9 2lThe Gent ....... 4 6 7
Peep-o'-I)ay Boy a 8 12 gr hby Vernlam,
Glauca 5 8 9 out of Whim ... 5
Russborough
Lancigrave
Elthiron
Backbiter
Knight cf Avenel 4 7 10 Wallflower
Bet hunter
Old Dan Tucker... 5 7 7 Kathleen 4
Vatican
Windischgratz
Pitsford
Priestess
Vamp) re a 7 4 Salute
Sauter-la-Coupe... 5 7 3P. ndennis
Vanguard
Borneo 5 7 3 E•itafette 4
Little Jack 4 7 3 King Charming ... 3
Cyprus 4 7 3 b e by Charles
C±:eerful .
t )ffiCiOUR . . 4 7 3 Touchstone 3
NitiDi
Strimghow
Fire•eater
Valentine 4 7 01Ballet Girl
Royal Harr 4 -7 01*Konok Knoll 3
Bonnie Dundee ... 3 7 0 Antigone 3
*Minimum
Tophana 6 6 13 Waterfall ... 3
Vasa
c by Gladiator, out Ahlerhaman
of Khorasoan's IE lus 4
dam
Ki.:saway ... 5 6 131 out of Empress 3
*Herbert 5 6 12If by Pantaloon, out
Nutcracker 4 6 12 of Lady
Clermont a 6 121 Cane
Woodlark
Hippolytus
The Swede 4 6 10 -lurry Scurry 3 4 7
Gardenia . 6 610 i f by Tueon, out
Brother to Dough 4 6 11. of Lady L Nis— 3 4 4
Mrs. Taft 6 6 10 Tonic
Hesse Humberg ... 3 6 7 Ella 3 4 4
Baroness
Those marked • having been entered without the
knowledge of their owners, will be struck out by the
time prescribed unless specially ordered to remain in.

4 10

THE SUN,

~---

BONUS EX USPE

NATIONAL LOAN FUND LIFE
ASSURANCE SOCIETY.

The annual general meeting of this society was
held yesterday at the London Tavern, Bishopsgate-
street ; Mr. Lamie Murray in the chair. The meeting
was very numerously attended.
The proceedings were opened by reading the di-
rectors' report, in which also was embodied the report
of the actuary appointed to inspect the affairs of the
society annually. The auditors' accounts were also
read. The following is the report :
NATIONAL LOAN FUND LIFE ASSURANCE
SOCIETY.
TWELFTH ANNUAL MEETING.
" The directors have much pleasure in meeting the
proprietors on the recurrence of the annual general
meeting.
" As iruicated in the last annual report, the business
of the society has continued to increase rapidly. The
year ending Nov. 30, 1849, exceeded considerably its
pred.cessor in the amount of new business, and the
p ar just closed shows a corresponding excess upon the
last. Iti the two years the aggregate of new business
amount, in policies to 2,074, and in premiums to
33,8031. 75. Id., so that, in short, half the present in-
come and liabilities of the society is the work of the last
two years.
" The claims paid in the past year have considerably
exceeded any former year. This has not so much arisen
from any great excess in the number of casualties over
the oxp cation, but from the average amount of the
claims being greater by. 10,2191. than the general
average of the society. The mortality experienced in
the previous year was extremely light, so that on the
two years the expectation has not been exceeded.
" With 'a view of affording the proprietors an insight
into the present position and future prospects of the
~ociety, the directors submit to them tee report of Mr.
Woolhouse, the society's actuary, on the completion
of his annual investigation of its affairs, which,
whether viewed in respect to the society's actual state
or its gathering magnitude, cannot fail to give eatia-

6' The following is Mr. Woolhousa's report:—
" London, Bth May, 1851.

•
" Gentlemen,—Having completed the annual valua-
tion of the affairs of the National Loan Fund Life As-
surance S ciety, in accordance with the deed of settle-
ment, tf.er having been engage l upon the same for the
last four months, I now, in pursuance of your instruc-
lions, big to lay before you a statement, in a concise
form, of the more important results of that investigation,
with such details as may convey an adequate knowledge
of tie ple3ent resources and future prospects of the

society.
•• • The eff,,ira of the society, calculated up to Dec. 1,

1850, may be siatrd thus:—
Amount of investments, together with
present value of income trout annual
... X 1,030,882 14 0
premiums
Present value of liabilities on all as-
surances, annuities, &0., including
paid-up capital ... 926,821 17 2

Balance £104,060 16 10
" Of this bslance I recommend the sum of 78,386/.
Bs. 13. to be reserved for future profits, and one-third of
the remainder, after reserving 30 per cent. of the same,
sill enatile you to distribute to policy-holders a cash
bonus of 14 per cent., and a reversionary bonus in addi-
tion to the sums assured, varying according to age,
&c., from 20 to 48 per cent. on the premiums of poli-
cies on the profit scale, and of five years standing; and
to the proprietors a bonus of 3i per cent., in addition to
the regular interest of 5 per cent.
" • The amount of claims on life policies payable by
the society, will depend not • only on the number of
deaths, but also on the comparative amounts of the as-
surances upon which they may happen to fall, and,
although averaging favourably throughout a lengthened
period, must, as compared with the average, be ex-
pected to fluctuate considerably from year to year. The
past y ear has been unfavourable in this respect. The
amount of claims paid, viz., 35,5761. Bs., exceeds the
expectation, according to the tables, by 10,2191.; while
the total sum of 136,7151. 14s. paid on claims from the
commencement of the society to the end of the same
year, is leas than the tabular mortality by 10,1521. It
is satisfactory at the same time to be able to state that
there is every probability that the current year will be
favourable in respect of the claims upon the society,
judging from the moderate amount of new claims up to
the present time.
"' Up to the end of the year 1850 the total number
of policies in. force amounts to 4,314, and the annual
income arising therefrom to 63,5901. Bs. 4d., covering
assurances, including whole life, term, and miscellaneous
policies, to the extent of no less than 2,072,6881.
" The successful progress of the society is plainly
indicated in the following statement of the amounts of
annual income on existing policies at the end of the re-
spective years, viz.:—
£39,747 15 1
1846 ...
1847 ... ... 42,749 3 3
1848 ••• ..• ... 45,103 2 4
1849 ... ... 54,496 15 2
1850 ... ..• ••• 63,590 8 4
The new business, from the end of the year up to the
present time, amounts to 342 policies, assuring 177,2091.,
and producing an additional income of 6,0901. 13s. 2d.
" Although the society was first established at the
end of the year 1837, the business originally transacted
in the earlier years, covering nearly two-thirds of the
whole period, was comparatively small, and the greater
part of the policies then issued have since become lapsed,
discontinued, and surrendered on purchase. The number
of life policies issued to the end of 1846 was 3,400; of
this number there now exist but 1,441. In the last four
years the number issued was 3,157, of which 2,578' are
in force. The number issued in the last two years
amounts to 2,074. In the last year the number of policies
issued is 1,056, and the annual premiums thereon amount
to 15,5351. 6s. 4d. Thus the'great mass of the policies
in force appertains to the latter years; in tact, about
one-half of the policies have been issued during the last
two years, so that, in respect of the existing business and
present liabilities of the society, it is in the same posi-
tion as if it had been of very recent origin.
" The sum put down for preliminary expenses will,
on the present division, be reduced to 1,5331, Os. lid. ;
and the reserved portion of the divisible surplus will, iu
another year, more than wholly extinguish this item,
after which the successive amounts so reserved will
sccuesulate in the formation of an additional gua-
rairtee fund, as provided in the deed of settlement, and
thus continute to further consolidate the stability of the
society.—l am, Gentlemen,
" Your most obedient servant,
" W. S. B. WOOLHOUSE, Actuary.
" ' To the Directors of the National Loan Fund

Life Assurance Society.'
" The directors have now, after an arduous labour,
and at some expense, placed in a state of efficient opera-
don three distinct centres of management, viz., New
York, the British North American Colonies, and France,
under the direction of chiefs of skill, experience, and
energy, and the superintendence of local boards of high
a ending.
"From each of these centres a self.suppnrting busi-
ness has already sprung up, Which may probably equal,
if not in some instances surpass, the business under the
immediate superintendence of the head office itself.
" Dusing the past year the Actuary submitted new
tables of premiums. for the purpose of facilitating the
operation f the principle of the office in making loans
on its own policies to the extent of one-half the pre-
miums paid, and without any other security than the
simple endorsement on the policy itself.
" The same principle equally applies to the re-pur-
chase of a policy at a fixed price. 'l he facilities which
this plan affords are already making a satisfactory im-
presrion on our business.
"In addition to the directors .who go out of office by
rotation, and who are candidates for re-election, the
directors have soukht to strengthen the position of the
society by proposing for election five other proprietors
of well-known local influence, and all of whom have
been proprietors since the origin of the society.
" The directors have adopted the recommendation of
the Actuary in respect to the present division of profits.
" The following table prepared by him exhibits ex-
amples of the bonuses to which the holders of policies
of upwards of four years' standing have become entitled,
with the option of receiving the_same in cash, or by ad-
dition to their policies, or in permanent reduction of an-
nual premiums.