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

THE SUN, LONDON, SATURDAY EVENING, MARCH 20, 169

_ .
Closing nusiness
Share NAB. Paid. Price. done
Zip Agra Limited, A all 12 121 121 1
10 Do B lO 4 If 41 1
50 Albion
00 Alliance, Limited
20 Anglo-Austrian
20 Anglo-Egyptian, lim 4lll 191 2 1
20 Anglo-Hungarian a 11 21
20 Anglo-Italian 1866, limited 10 51 41
40 Australasian
20 Bank of British Columbia,, all 11 13
20 Do issued at 2 pm„,„,„. -5 5 4
25 Bank of Egypt
20 Bank of Otago, lint
25 Bank of South Australia all 30 82
50 Bank of Victoria, Australia 25 37 30
10 Bank of New Zealand all 17 18
50 British North American
20 Chartered of India, Austra-
lia, and China. ......... &di all 21/ 22
25 Chartered Mere. of a
London, and China all 301 311 31 30
20 City ..... .
100 Colonial ...... . .
10 Consolidated, lim.
50 Delhi and London, liin
50 East Loudon, lint ........ .
0-1
20 English and American, lim 10 ...
20 English Bank of Rio de Ja-
neiro. 1int...... .
20 English, Scottish, and Aus-
tralian Chartered
281 long Long and Shanghai all
164
174
Bank Corporation all 81 33 361
281 Do new B4 il4
100 Imperial, lim
20 Imdarial Ottolnaa ............ 10 21 4 121 4
25 lonian.
25 Do new
20 Lnd Mortg,age of India, lim 4 aq 5a
100 Do sp. c. Debs.lB64, 30 all 76 73 7 ,
30 London Bank! of Mexico
and South America, lim. 20 5 4
100 London and Brazilian, lim. 45 32 28
20 Do new 71 61 57
100 London &Elver Plate, lim 4O 10 12
25 Do new 10 21 Op
20 London Chart, of Australia all 2if 244
20 London and County 2l 50 52 41
50 Do new, iss at 20 p.m, 16 pi ll •.• •••
London Joint Stock__
London and South African al 9 11
00 London & S.-Western, 11,, 20
150 London & Venezuela, lim„, 124
100 London and Westminster 2O 64 66 644 4
100 Do Scrip, iss at 10 pin 2O 59 61
100 Merchant, 1int,........,.. 25 6 4
10 Metropolitan, lim ......... .
all 6} 74
100 Midland, 1im.....,. .......
5 National of Australia
25 National of Liverpool lim l5 3 1 d
100 National Provinc. of .Enz'd 42 ......143
10 Do ...... .. ....... .
50 National.. 3O 46 48
20 New South Wales all 41 43
20 North-Western 7l
25 Oriental Bank Corporation all 43 44 431
50 Provinc. Bank. Corpo., lint lO 6 5
100 Provincial of Ireland 25 87 69
10 Do now, all ...
100 Stand. of Brit. S. Africa, lint 25 15 1 i
100 Do issued at 6 pm. 10 ... ...
25 Union of Australia all 47 48
100 Union of Ireland, lim
50 Union of London l3 36 37; 37

BRIUSII EQUITABLE ASSURANCE
CO TIP. 4 iNT Y.

-.--..

The annual general meeting of this company was held
on Thursday, at the offices of the company, 4, Queen-
street-place, Southwark-bridge--John Smither, Esq., pre-
siding. A large number of shareholders and policyholders
were present.
The directors annual report was as follows:—" The
continued prosperity of the company during the 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 £16,2937
The amount paid for surrenders is small, being less than
per cent. of the premiums received during the year.
Death claims and bonuses have been paid under 104
policies for £19,018, a sum considerably below the amount
provided bythe company's tables. The total payment on ac-
count of death claims ai dbouusesfromt'iecommencement
of the compway amounts to £99,339, under 613 policies.
Nearly E. 28,000 have been added to the accumulated fund,
which now amounts to £182,938. The directors have to
dep`ore the irreparable lo's of their late excelled, chair-
man, Will'am (lover, Esq., who died on tit., lst Decsmber
last, after p-o:iding over the company for fourie. n 3 ears.
Death has also remov, d another of the original directo7s
of the company, Josek.h Waranitagton, Est., who remained
a constant attendant at the board lint 1 his last illness.
The policyholder; are thanked for their warm co-opera-
tion with the executive in the extension of the cotnrany's
business, and are requested to cont•nue their v...litable
help,"

The MANAGING DIRECTOR said, with the permission of
the meeting, he would make a few observations upon the
report just lead. The British Equi.ab:e Assurance Cone-
peny, us they all knew, was founded fourteen years since,
upon principles then nuipie, and now established by x-
perience. "Mutual assurance, without mutual liability," by
means of a proprietary fund sharing the profits of non-
participating business only. Adapt ition 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 bed 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 fur
£812,492 ; in second five years, 6,743 for £1,088,917 ; and
in the lest four years, 11,886 for £2,052,088; mating a
total in fourteen years of 23,593 for £033,497. (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 eud 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, andat 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 went 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
flint', 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 had 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 I
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 means 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 p ilicies in
the past year was just one-third Jose, with regard to the
amount of business in force, than thatipaid iu the seventh
year. Every opportunity 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 provisien of life assurance more universally
acceptable. A method of assurance ha 1 late:y come into
vo.rue in America, which it was thougia might be adopted
in England with acceptance and profit. It was the ass m-
ance of life by the paym•;et of ten annuli premium ;. After
the third a.enuil premium was p Lid, a p,i,l-112 po!icy
was granted on application for tic ee-tont'is of the sum
assured ; after the feurth premium was paid four-tenths ;
and so on, until the ten annual premiums lied been p ;id,
when the policy was henceforth a free • t. • t
policy, per ictpe -
ing in the profits of the company. 'rabies would be shortly
issued under that plan for payments by ten, fifteen, twenty,
and twenty-five years' annual premiums. ([leer,
hear.) Having paid a grateful tribute to the memory
of the late chairman and Mr. Warmington, the
speaker concluded by saying that this company, though
not a very old one, was yet in some respects a great com-
pany. (Hear, hear, and cheers.) A company of policy-
holders, 15,000 strong, was a large company, ono of the
largest numerically to be found, and he thought if their
15,000 policy-holders, with their wives and children, were
all gathered into ono place, reckoning them at say 100,000
sours, it would require one of our first-rate cities to lodge
them. (Hear, hear, and laughter.) He strongly urged the
policy-holders to be very active for the company. Let
them study the full moaning of the word co-operation ;
let every one of the policy-holders unite with the direc-
tors, with the staff of the office, and with the agents, in a
great effort fur the current year, and they should have
such a report next year as any company might well be
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 Lot 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, Eq., 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. Msvenns 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.—On 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 wont very steadily.
Matthew Dawson's Lablache led Wild Oats a steady gal-
lop round Long Hill. ,Silenus led Princo imperial, Head
Centre,Talk-o'-the-Hill,Tenedos, Abstinence, and Clairon.
Athanor led Chatelherault over the same distance. God-
ding's cantered twice, and Cork Jacket then led The
!Egan a steady gallop round Long lliil. Blanton's Royal
Rake, Glen Rosa, Badswerth, and several others did steady
work. The same work was gone through by G. B!css's
Border Knight, Hermit, Vauban, Humdrum, Robespierre,
Sagittarius, and Chanoinesse. Knight of the Garter only
took walking exercise. Martyrdom was not out. On the
race-ground, Hayhoe did steady work with Restitution,
Wildbad, Hermiono colt, Rowsham, King Alfred, and the
Miss Peddie colt. Jennings' .Auguste, Le Sarrazin, Mor-
temer, Nelusko, Gondolier, Boulogne, Trocadero, and
Ouragan all cantered, and then went a steady gallop. T.
Stephenson did good work with Court Card, Meteor, and
the Catherine filly. Thursday -On Buty Hill side Hay-
hoe did usual work with Restitution, VV ildbad, 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 Lablache
led Wild Oats and Franchise a half-speed gallop round
the Cambridgeshire-hill, the Darby nag going well. Sile-
"S 0114 415t4913 4d kriAce Imperial, Sod Gotze, Walk- 4