The Sun.
London, England, 1869-03-20 00:00:00

THE SUN, LONDON, SATURDAY EVENING, MARCH 20, L 69

Closing liusiness
Share NAVE. Paid. Price. done
10 Agra Limited, A all 12 121 121 1
10 Do B lO 4 41 41
50 Albion
00 Alliance, Limited.
20 Anglo-Austrian ... 71 15 16p
20 Anglo-Egyptian, lira allj 191 '2
20 Anglo-Hungarian ...
20 Anglo-Italian 1866, limited 10 51 41
40 Australasian ...
20 Bank of British dolumbia all 11 13
20 Do issued at 2 pm. .5 5 4
25 Bank of Egypt
....... ..
,20 Bank of Otago, lim.
25 Bank of South Australia_ all 30 32
50 Bank of Victoria, Australia 25 37 39
10 Bank of New Zealand all 17 18
50 British North American all 50 52
20 Chartered of India, Austra-
lia, and China .... .
25 Chartered Mere. oi
Loudon, and China all 301 311 31 30
20 City
............... 10 12 121
100 Colonial ..... . . .................. 25 391 401
•
10 Consolidated, lira. . . ........ 4 I 1 41
50 . Delhi and Loudon limn 25 ... •-•
50 East London, lim. .......... 5 11 01
20 English and American, lim 10 ... •-•
20 English Bank of Itio de Ja-
neiro. lim ...... . ............ 10 pr 1p
20 English, z.cottish, and.. Aus •
tralian Chartered ..... .. all 164 ;71
£8; Hong Kong and Shanghai
Bank c0rp0rati0n.,,,,,,,, all 34 35 361
281 Do new......... 52 111
100 Imperial, lim ................... 20 161 ;71
2J Imparial Ottualli ............ 10 21 # 111 a
25 lonian. ............................ all 25 27
25 Do new . .... .... ....5 pr 1p
20 Lnd Mortgage of India, limn 4 31
100 Do sp. c. Dobs.lB6l, 30 all 73 75 7)
30 London Banks of hlexico •
and South America, lint 20 5 4
100 London and Brazilian, lim. 45 32 23
20 Do new 71 61 51
100 London St liver Plate, lim. 40 10 12
23 Do new 10 21 3p
20 Landon Chart. of Australia all 211 244
20 London and C0unty,,,,,,,., 20 50 52 51
50 Do new. ins at 20 p.m, 16 pd. 11
London Joint Stock... 1 82 33 3=l
London and South African al 9 1)
00 London &S.-Western, lim, 20 •••
150 London & Venezuela, 121
100 London and Westminster. 20 61 65 C 44
100 Do Scrip, iss at 10
....... 20 59 51
100 Merchant, lim .................. 23 6
10 Metropolitan, lim. ............ all 01 71
100 Midland, ............ 20 id
5 National of Australia
25 National of Liverpool lira l5 3 1 d
100 National Provinc. of
.Eried 42 ... 143
10 Do . 42 •-•
t 0 National,. 3O 46 43
20 New South Wales all 41 43
20 North-Western 7l
25 Oriental Bank Corporation all 43 41 431
50 Provinc. Bank. Corpo., lint. 10 6 5
100 Provincial of 25 87 S 9
10 Do new. all
100 Stand. of Brit. S. Africa, lim 25 15 1
100 Do issued at (; pin lO
25 Union of Australia all 47 48
100 Union of Ireland, lim
50 Union of London l5 36 37 37

BRITISH EQUITABLE ASSURANCE
CO_TIPANY.

--~-

The annual general meeting of this company was held
on Thursday, at the offices of the company, 4,- Queen-
street-place, Southwark-bridge—John S:nither, Esq., pre-
siding. A large number of shareholders and p,-,licyholders

were present.
The directors annual report was as follows:—" The
continued prosperity of the company during tho past
year is shown by the following facts relating to the year's
business. The new business of the year, which has been
carefully selected, consists of 3,086 policies, assuring
£535,211, the new annual income thereon being £16,233.
The amount paid for surrenders is small, being less than
per cent. of the premiums received during the year.
Death claims and bonuses have bean paid under 104
policies for £19,018, a sum considerably below the amotint
provided by the company's tables. The total payment on ac-
count of death claims and bonuses from tie commencement
of the comi any amounts to .C 99,30, tutd,r 613 po:icies.
.Nearly 1:26,000 have bcon.add.l:l to t':o a7cutnulated fund,
which uo JF amount; to £i82,938. The dir,etors have to
dep'ore the irreparable lo s of their Itre esculent chair-
man, Will a.:: (1,v.., Esq., who
.d 4,1 011 111 let c •mber
tor p 0. Wing over the company for fourte n • ears.
lint II has also rentov,d anoth,r oritinal iti,-ee; 0.
of the Jose, h Es 1., who roinained
a constant atteudant at the board tu,t I his last
The vil:ey hollers are thauked foi• their wartit co -opra-
Lion with the executive in the ex te,siou of the eo
busbies., and are r, quest.Nl to cont:uue their v.auteile
help."

The MANAGING DIRECTOR said, with the permission of
the iveetii.g, he would make a few observations upon the
report just road. The British Rol:able Assurance Corn-
prny, us they all knew, was founded fourteen years sines,
upon principles then unique, and now estahlished by x-
perience. "Mutual assurance, without mutual liability," by
means of a proprietary fund sharing the profits of non-
participating business only. AdaptAtion to the wants and
convenience of the assured. Co-operation of policy-
holders with the executive, and they have since added the
"Application of profits to the extinction of later pre-
miums on policies," so as to make them become payable in
life-time. An improved system of assuring second-class
lives, and non-forfeiture policies. (Hear, hear.) In
working out the company's principles, the careful
selection of life, combined with the prompt and
liberal settlement of claims had always been aimed at.
It had resulted that a Life Assurance business has been
built up of large amount, excellent quality, and good profit.
The new policies issued in five years were 4,970 for
£812,492; in second five years, 6,743 for £1,088,917 ; and
in the last four years, 11,886 for £2,052,088; making a
total in fourteen years of 23,599 for £1,953,497. (Loud
cheers.) The policies in force at the end of the first seven
years were 4,475, assuring £758,774 ; at the end of the first
ten years, 7,279, assuring £1,214,014; and at the end of
fourteen years 15,040, assuring £2,586,927. (Cheers.) If
they looked at the company's business at the end of the
first seven years, and at the end of the second seven years'
they would find it was three times as great in the latter
instance. The sum laid by in the fourteenth year was
likewise three times as great as that laid by in the seventh.
(Cheers.) The following figures would show the growth
of the accumulated fund :—At the end of three years it
stood at £19,617; at six, £32,052 ; at nine, £62,000; at
twelve, £127,978 ; and at fourteen, .£182,938 ; which was
four and a half times as great as at the end of
the seventh. (Hear, hear.) In fact it had been
doubled three times over in fourteen years. (Cheers.)
That fund was as instinct with life as any other part of the
company's machinery. The money was out at compound
interest, and that money was working night and day as
time wont on, to generate in the shape of compound inte-
rest, a constant increase of what he might call "the
population of sovereigns in the company's exchequer."
(Laughter and cheers.) The growth of the accumulated
fund, which seems to indicate a law of doubling nearly
every three years, presaged large accumulations for the
company in future, and at the present time he thought the
company might be compared with much advantage in that,
as well as in other particulars, with some older companies.
I would be an idle speculation, though a curious one, to
consider what the accumulated fund would grow to in a
very short space of time, were its present law of growth
maintained. (Hear, hear.) It doubled itself three times
in fourteen years, and were this to take place again in the
next fourteen years it would give results which would
unquestionably place the company in a position without
parallel. (Cheers.) Their careful selection of life, the
eschewing of all risky business, and the excellent habits
for the most part of the lives assured bad been evidenced
by the low mortality experienced uniformly throughout
the entire period—a mortality not greatly exceeding one-
half of the tabular provision if taken for the whole
period, or two-thirds, taking the last four years.
The provision which the company made to enable policy-
holders to tide over periods of embarrassment by loans on
policies had been the moans of enabling many of the
assured, during the past year, to keep their policies on foot
until a more prosperous period, and it was satisfactory to
note that the amount paid for the surrender of policies in
the past year was just one-third less, with regard to the
amount of business in force, than thalpail in the seventh
year. Every opimrtunity had been taken of enriching the
list of benefits and advantages offered by the company by
the addition of whatever could be devised or adopted to
render the provision of life assurance more universally
acceptable. - A method of assurance ha I late:y come into
vogue in America, which it was t hougA might be adopted
in England with acceptance and profit. It was the 4.ssar-
anca of life by the raymout of toe cams sl premiums. After
the third annual premium was p tid, p ii-l-ue policy
was granted on application for three-tent'ii of the sum
assured ; after the Laird) premium was paid four- ;
and so on, until the ten annual premiums had b-en pod,
when the policy was henceforth a free policy, participat-
ing in the prolite of the cempany. Tablas would be shortly
issued under that plan for payments by ten, fifteen, twenty,
and twenty-five years' annual premiums. (Hear,
hear.) Having paid a grateful tribute to the memory
of the late chairman and Mr. Wartnington, the
speaker concluded by saying that this company, though
not a very old one, was yet in soma respects a great com-
pany. (Hear, hear, and cheers.) A company of policy-
holders, 15,003 strong, was a large company, one of the
largest numerically to be found, and he thought if their
15,000 policy-holders, with their wives and children, were
policy-holders
them.
l ho g
eu m s
tht(ueffdre
ye dat
r wouldne
ht
to
eof requireauorbi n,leae mn
vpdeel
onearal
ye:
ti I , reckoningnaoghf
activetoe:fru.laughter.)
for
hfleur them
et h-
word
stronglyhe
first-rate
tm at
ce
occmoi
t p-isoemapsunyeryt
orgl.aeOtl
dOio
0,
Letdi
co-operation
ecO
let every one of the policy-holders unite with the direc-
tors, with the staff of the office, and with the agents, in a
sgurecahtaeiff.eoprotrt fur the
year cu
arresntanyyeacro,mpanadaythezigshht elouwldlliabvee
proud of. (Loud cheers.)
The CHAIRMAN then moved the first resolution for the
adoption of the report, and said that after the very ad-
mirable remarks of their manager it was quite unneces-
sary for him to detain them by any lengthened observa-
tions. He could tot help congratulating the meeting on
the great success which still continued to attend their
efforts.

Mr. LEMON said it afforded him the greatest pleasure
to second the motion.
The motion was then put to the meeting and carried
unanimously.
The retiring directors, G. F. Dale, Esq., and J. Smither,
Esq., were unanimously re-elected, and Mr. W. Smith was
elected a director.
Mr. F. J. HARTLEY moved a vote of thanks to the
managing director for the energy and ability with which
he had conducted their affairs during the year just closed.
(Cheers.)
Mr. J. MEVARDS cordially seconded the proposition,
which was agreed to unanimously.
Mr. GOVER having returned thanks,
Dr. UNDERHILL moved, and Mr. SIMMONS seconded, a
vote recording the great loss the company had sustained
by the death of their late chairman, who was a gentleman
of the highest honour, of untiring energy, of unbounded
information, and experience.
The resolution was carried ; and votes of thanks having
been given to the various officers of the company, the pro-
ceedings terminated.

TRAINING REPORTS.

(From the Sporting Lift.)

NEWMARKET. —bn Wednesday, on Bury Hill side,
Joseph Dawson, after cantering, galloped Knight Errant
steadily the length of the tan. Chapel Royal led Rupert,
Grimston, and Strathnairn round Long Hill at about half-
speed. Tornado, Riga,Mysotis, Electricity, Misadventure,
and Dryad followed at a distance. John Dawson's Nine
Elms, Typhoeus, and Typhon only went very steadily.
Matthew Dawson's Lablache led Wild Oats a steady gal-
lop round Long Hill. Filenus led Prince imperial, React
Centre, Talk-o'-the-Hill,Teneclos, Abstinence, and Clairon.
Athanor led Chatelherault over the same distance. God-
ding's cantered twice, and Cork Jacket then led The
iEgean a steady gallop round Long Hill. Blanton's Royal
Rake, Glen Roea, Badswerth, and several others did steady
work. The same work was gone through by G. Blcss's
Border Knight, Hermit, Vauban, Humdrum, Robespierre,
Sagittarius, and Chanoinesse. Knight of the Garter only
took walking exercise. Martyrdom was riot out. On the
race-ground, llayhue did steady work with Restitution,
Wildbad, Hermione colt, Rowsham, King Alfred, and the
Miss Peddie colt. Jennings' Auguste, Le Sarrazitt, Mor-
temer, Nelusko, Gondolier, Boulogne, Trocadero, and
Our agan all cantered, and then went a steady gallop. T.
Stephenson did good work with Court Card, Meteor, and
the Catherine filly. Thursday -On Bury Hill side Hay-
hoe did usual work with Restitution, Wildbad, Rowsham,
King Alfred, and Miss Peddie colt. Suffolk only did gentle
exercise. G. Bloss cantered Vespasian, Border Knight,
Matilda, St. Andrew, Knight of the Garter, Robespierre,
Sagittarius, and Vauban, and they afterwards went
steadily round Long Hill. Joseph Dawson's above men-
tioned did about the same amount of work. Blanton, Jen-
nings, John Dawson, and Arnull all did regular work
with their lots. On the race ground side Matthew Daw-
son's lot cantered twice, and shortly afterwards Lallache
led Wild Oats and Franchise a half-speed gallop round
the Cambridgeshire-hill, the Derby nag going well. Sile-
ntly gnd Qbainzt fed grijaw knperigl, ligad Qtnixel Walk- 4