The Sun.
London, England, 1869-02-04 00:00:00

The twenty-eighth annual general meeting of the
members of this association was held last evening at
the London Tavern, I3ishopsgate-street. The meet-
ing was presided over by Mr. Richard Henry Jones,
the Chairman of the Board of Directors.
The advertisement convening the meeting hav-
ing been read,
Mr. IV. T. LINFORD, CIO secretary, read the re-
port, which was as follows :
The Board of Directors have the pleasure to present to
th 3 members their 23th annual report. The new propo-
sals received during the year were 1,522 for £237,500, of
Which were accepted and completed 1,261, for £231,850,
being upwards of
£38,000 in excess of the business of the
Previous 12 months. The remaining proposals wore de-
ferred,
declined, or withdrawn, or are awaiting c)rupletion.
The new annual income thus created is £6,192 14s. 11d.
The total income for 1803 was—From premiums, £01,044
17s• 9d•; interest on investments, £16,200 7s. ld. Total,
£77,250 4s. 10d., and after provision for all claims and ex-
Peusns the balance carried to capital account was
4:423821 is. 3d. being upwards of 55 per cent. of
the gross income. The sum of £4,874 18s. has
been received in purchase of immediate annuities. One
hundred and twenty policies, assuring with bonuses
the a sum of £21,103 19 9d., have become claims by death.
a his amount is less by upwards of £B,OOO than the claims
of the previous year. The assets of the association, after
Payment of £19,100 Os. sd. on account of the bonus divi-
sion, amounted on the 31st of December last to £375,318
i
Is' 31 The directors retiring bv rotation are—Mr. Wm.
Stanhope Sawtell Mr. George R.-Birt, Mr. Richard Price,
lobo being eligible' are proposed for re-election. The ful-
wing gentlemen' duly qualified, are proposed as auditors
for
the ensuing year:—Mr. James Richard Lloyd, Mr.
Prannis Frederick Toole, and Mr. Charles Woolley. The
bßoard desire to direct th 3 especial attention of the mem- ,
rs to the figures exhibited by the late bonus division.
energetic development of its resources, by watchful and
judicious investment of funds, by the utmost care in the
selection of lives, the Provident Clerks' Association was
enabled to show,' as the result of the past five years'
king,a clear ash profit divisible among its members
n.l £51,970, producing to the individual assurers a rover-
81(41arY bonus greater by 124 per cent. than any
hitherto declared by the Association. Satisfac-
to.ry
as this result is the Board look forward
With as
to still further progress. This, however,
,
Can enlv be attained if the great body of the members
numbering now upwards of ten thousand persons, will,
on
strengthen the hands of the Board by their
their part
hearty and united co-operation ; and, judging from the
Past, the Board look with confidence for that assistance.in
Protnoting still further the welfare and prosperity of this
valuable association.
The CHAIRMAN, in rising to move that it be re-
ceived and adopted, said the meeting had heard the
report and balance sheet read, and as he thought it
contained such full and concise information on
the state of the affairs of the association for the past
Year it rendered it quite unnecessary for him to
his
them for any length of time, even supposing
Ins health would permit him to do so. It was, how-
ever, exceedingly
satisfactory to know, even sup-
P°slng anything was wanting, that they continue to
oproceed surely and steadily in a progressive manner.
he new business for the last year exceeded that
f the precedino. by 215 polices, and by £38,250
I
amount, producing a new income of £7OO
°ver that of the preceding year. (Hear, hear.)
They had also a gain under another head, as their
claims during the last year had been £B,OOO less
than those
eir paid the year before. With respect to
investtnents, they now produced them £4 13s.
'id: per cent.,
Wpzith which he thought they would agree
, sum was an excellent return for their money.
"eY bad in the year'just closed paid no less than
£19,000 in the way of cash bonus amongst the mem-
bers,, yet notwithstanding that pleasing fact, they
I'M been enabled to add £25,000 to the capital,
making their investments amount to the sum
of £375,000. He was sure there were many
cfthena who had been associated with him in
the society since its commencement that must
feel the greatest pleasure when they recollect the
Position they then held, and compared it with
that they at present occupied. (Hear, hear.) They
then no doubt looked forward hopefully, but when
they compared it with their present position it
roust, he thought, occasion feelings of amazement.
They had gone on year by year increasing in pros-
Perity, and he fervently hoped they would continue to
do so. There was one paragraph he could not help
adverting to in the report ; he had always referred to
the circumstance at previous meetings, and be would
do so at the present, and that was the assistance of the
members in increasing too business. it, I—a ~.----
Batisfactory no doubt, but they must recollect that
they had no less than 10,000 members, and if each
of thoie were only to introduce one new member,
see what an amount of profit that would bring to
them.
Indeed, on one occasion they had gone the
length of passing a resolution pledging themselves
do so and although it had led to good results,
yet it did not come up to the expectations of the
the irectors,
as many failed to carry out the spirit of
vote,
He begged to urge upon all present the
consideration of the good effects of increased acti-
/IV) because it was to the great body of assurers
tgenerally that the directors looked to enable them
tesh go on in the prosperous and successful manner
„ eY had hitherto done. (Hear, hear.) It was through
4raercifulProvidence that he was amongst them that
1118 ht• (Hear, hear.) He was thankful it was so,
be because it would have been trying to him to have
to absent from them on that ;the 28th time he
haul the pleasure of meeting them ; they had always
fell
ad pleasant assemblies, because union and good
°7814 invariably prevailed at their proceedings
i(hear, bear)—and he strongly hoped that such
hetthe future would always be the case. lie would
hisot
trouble them further on that occasion, because
a° felt the excitement would be too much for him,
Mitted
ucl) therefore, he would resume his seat by formally
111(.3ying " That the report and balance-sheet sub-
by the directors be received and adopted."
Ineheers.) Of course he should have great pleasure
-'newering the questions any gentleman present
might feel disposed to put.
t The resolutions having been seconded, were put
°,..0.
the meeting, and carried unanimously.
t. RANDALL then moved the following resolu-
:34:4"" That the best thanks of the meeting be
°ea to the directors for their exertions during the
:test
Year." (Hear, hear.) They had only to look
the
balance-sheet to see the care that had been
exercised
In over the funds, and the advantageous way
Which their capital was invested. Their accounts
a 'Were well and clearly kept, their claims had been
:1,411 which bore strong evidence of the great care
lich must have been exercised in the selection of
rres to bring about such a favourable result. He
hoped they would pass the resolution unanimously.
to PACE seconded the resolution, which was put
Xle meeting and carried unanimously.
li Cu:annuls said the directors felt much ob-
ged for the unanimous vote that had been passed
i
their favour. He would now, with their permis-
-si°ll) move the re-election of the retiring directors,
Mr. Sawtell, Mr. Burt, and Mr. Price.
The names were put to the meeting seriatim, and
each., gentleman was unanimously re-elected.
oh;fr- 131111. said, personally he was very much
Aarlged to them for their confidence, and on the
Part
fo of his colleagues he also had to thank them
ver the kindness extended to them. They were all
b Y gratified at the manner in which they had
eeo re-elected.
retl.ll.e Cilasitsfast then moved the re-election of the
leviring auditors, Messrs. Lloyd, Toole, and Wool-
ieach of whom were unanimously re-elected.
.418 ?olleagues
111
"r• LLOYD said he was very much obliged for
1.8 re-election, and he had to say the same for
whom, he regretted to inform the
xte:ting, Were unfortunately absent through illness.
w unght at once say the work of auditing accounts
vahls, generally heavy, but the admirable way in
liKl~te the accounts of that association were kept
ned the duty very much. The details were
all ~Yell worked out, and he and his brother auditors
wit:Ye went through the accounts with pleasure. It
(he 11° compliment to say the books wore well kept.
hear)—they, as provident clerks, ought to
th'eeP their books well. (Hear, hear.) However
do re were many things that many people ought to
fo ti Winch they did not, and therefore when they
fair uci what ought to be done, done well, it was but
Thle.ecine recognition should be made. (Hear, hear.)
u
bus.r luids were increasing, and so was their
factaessf, and that was entirely owing to the
the that their basis was sound and solid ; and
the ease was
w4B result that usually followed when this
perfect and complete sac-1

BRITISH FUNDS-CLOSING PRICES.

GOVERNMENT FUNDS.
3 per Cent. Consols
Ditto for Account,
3 per Cent. Reduced 934 1 4
New 3 per Cent
New 24 per Cent. Jan. 1894
Do. 5 per Con Jan. 1873
Annuities, SO yrs, expire sth Jan., 1880 —
Do. for 30 yrs, expire sth April 1885 —
Do (Red Sea Telegraph), Aug., 1908 —
Exc.:hop= Bills, .£l,OOO, 2i!per Ct.
Do. £5OO
Do. £lOO & £2OO —
Bank of England Stock, 4 por Cent
Do. account
... ..__ .

Canada 4 per Cent. Bonds
Inter-Colonial Omnutin
INDIAN GOVEKNMENT 6k:enltlTlE.6.
India dock, 10f per Cent., April f 1874 —
Do. Opening, for Account -
Do. 5 per Cent. July, 1880
Do. 4 pee Cent., Oct. 1888
Do. Certificates

Do. Enfaoed Pape. 4 per CAnt
Do. 5 per Cent., Jan. 1872
Do. 54 per Cleat. May 1879
•

Do 5-piir Cent., Rup.Deb. 1872 —
Do do, 1877 —
Do. do. 1882 —
D.:. Deb., 5 per Cent., Aug. 1873 ~ - -
Do. Bonds, 4 per Cent., £l,000
( Do. under £l.OOO
FOREIGN FUNDS—CLOSING PRICES.
Argentine Republic, F per Cent 761
Do., Scrip £45 paid
Auitrian Bonds 5 per cent .
Do. 1859 —
Brazilian 5 per Cent —
30. 41. per Cent., 1852 —
Do. do. 1858....
Do. do., 1860 —
Do. do., 1863 7l} i
Do. 5 per Cent., 1865
Do Account B2} li
B ;epos Ayres 6 per Cent.
Do 2 per Cent. (Deferred 3 per Cent.)
Cuba, 6 per Cent.
o..alian 6 per Cent .
Do. 4i per Cent..., —
Do. 3 per Cent.,
.1_ o. 6 per co t. 1867 9ll.
Po. 7 per Cent., 1866
C lo übian, 6 per Cent.
Dan.sn, 3 per Cent., 1825 .. .
Dan tbian Principalities, 7 ter Cent 76 f
Do 8 per Cent., 1867 .
Equador New Consolidated, 1 per Cent 13
Ngyptian, 7 per Cent
Do Second Issue
Do. .£slq, .V•OLViS B3}
Do. £lOO Bonds ..... 84±
Do. * 1864
Do. Account '
Do. £5OO Bonds
Do. 110 C Bonds 94 1
English Scrip, 1868 73i i i
Do do. £45 pd dia
Government Railway Debentures .... 95f 61
Greetc 5 per Cont., 1824 5, ox Coups

Do. Account
Do. Coupons -
Do. Account -
3 iateinala 5 per Cent .
Honduras Gov. Rail. Loan., 10p. Ct., all pd
It3liau 5 per Cent., 1865 —
Do. Account . Bl
Do IdAremmana Railway
id exican 3 per Cent —
Ditto for Account
Do. 1861
Do S per Cent. Anglo-French
doutevideau 6 per Cent. ..
Ilc orish imperial 5 per Cent
Ne w Granada —

Do 3 per Con
Do. Deferred
Peruvian 5 per Cent. 1865
Do Account . 751 6

Do 41 per Cont. (Uriburreu)
Do 41 per Cent.. 1862 -
Do Account
PJrtuguese 3 per Ct., 1853,'6, 7,'0,'60,'2,'3 361 1
Do. do. 1867 —
Do. do. Scrip, £2O paid —
ttussian 5 per Cent., 1822, £ $t
Do 41 per Cent . 1859
Do 3 per Cent., 1809
Do 5 por Cent., 1862
Do. Auglo-Dutch, 1864, £lOO BondE 92 I
Do. do. £B4 13s. do.

_ _
Do., 1866, £lOO Bonds _92}
Do. do £B4 15s. do —
Do Nicolas Railway 67}
Sar Tinian b par Cent —
Spanish 3 per (Jen .:..
Do. Account
Do. 1867
Do. Account
Do. New Deferred
Do. Account
Do. Passive
Do. Com. Cert. of Coup. not funded
Do. Account
Swedish Provincial Mortgage Loan
Do Government, 1864
Do do, 1868
Do do, Scrip
Turkish 6 per Cent. 5.....
Do Account
Do 6 per Cont. 1858 —
Do Account
Do £lOO Bonds
Do 6 per Cont., 1862 —
Do Account

Do £lOO Bonds 66
Do 5 per Cent. 1865
Da Account
Do 6 per Cent., 1860 621 3
Do 4 por Cent., Guaranteed
Do Land Warrants (Hectares)
Venezuela 3 per Cent.:
Do. Ace/runt
Do 6 per Cent. 1864
Do 6 per Cent., 1862
Dividends on the above payable in London.
Austrian o per Cent. Ex 10 Florins
Belgian, 41 per cent., Ex. 25f.
Dutch 24 per Cont. Ex. 12 Gail
Do. 4 per Cent. Certificates
Do. Account
French Routes, 3 per Cent., Ex. 25f. —
Italian 5 per Cont. 1851, Ex. 25f.
Do Account ss}
CLOSING PRICES.
Oonsols,!Money 93
Do. Account, March 4 93}

THE PROVIDENT CLERKS' MUTUAL LIFE cess. Ile would earnestly urge upon all those balance of £4,199 13s. 11d. be carried to new
ASSURANCE ASSOCIATION. present the duty of furthering the beneficent effects account."
of life assurance. (Hear, hear.) Instances of its The British Indian Submarine Telegraph Coin-
good were continually occurring, and one instance pany (Limited) have allotted the shares of their
of it had just occurred within his own knowledge. capital. Mr. George Garden Nicol, chairman of
A person had but a few days previous to his de- the Chartered Mercantile Bank of India, London,
parture to Australia insured his life, and he had but and China has joined the board.
just arrived in that colony, when he was unfortu- Tue Brazilian Street Railway Company's (Li-
'lately drowned. The money was at once paid, and i naited) receipts for the month of December last
he believed that the amount of his policy amounted to milr. 26,2065800 (about £2,620), as
was the only asset left to his survivors. (Hear, compared with milr. $21,265,540 (about £2,126),
hear.) There was nothing that could give a man for the corresponding month of 1867. Receipts to
so much pleasure as the trouble he took in further- January 14 about milr. 15,000.
ing life assurance. (Hear, hear.) The directors of the Metropolitan Railway Com-
The CHAIRMAN said all the labours of the direc- pany have made a call of per share on the new
tors would be neutralised without the assistance of ordinary shares, payable on the Ist March.
an efficient staff. Ile therefore had to move a The half-yearly meeting of the Southampton
vote of thanks to Mr. Linford, Mr. Stubbs, and the Dock Company is called for the 24th inst.
other members of the staff for their efficient services A general meeting of the London and Lisbon
during the present year. (Hear, hear.) Cork wood Company (Limited) is convened for the
The resolution was put to the meeting and car- 11th inst., " for the purpose of considering a state,
rigid unanimously.
ment of the company's affairs."
Mr. LiNFoRD returned thanks for the kind re-
cognition by the meeting of the services of the
staff. He felt an additional pleasure because the
vote was moved by the Chairman, who knew the
work that had been done, and therefore could tes-
tify that the vote had been fairly earned. For
himself, he could say that ho did not believe any
life assurance office possessed a more able and zea-
lous staff than they did. There was one point in
connection with the growth of their income to
which he desired to call their attention. The
premium charged upon young lives were extremely
moderate, and the result was that while £230,000
of new policies produced only £6,200 per annum
in their office, a similar sum in another office whose
report he had that morning read produced
£9,600. This showed that the office in
question had either assured much older lives
or charged much higher premiums—probably
both of these elements contributed to the result.
If, however, their income grew with less rapidity
it was quite evident they would receive the pre-
miums for a longer period, their lives being
younger, and they would have more chance
to compenEate them. (Hear, hear.) He could
give another instance to that mentioned by Mr.
Lloyd, which also occurred within his own
knowledge. An old member, who had effected
an insurance on his life, was accidentally
killed only a day or two since, in walking
home from his office, having to cross a rail-
way, and had it not been for his prudence and
foresight his wife and three children would have
been penniless. Fortunately his life policy
would be the means of alleviating in a great
measure the sorrow his death occasioned. (Hear,
hear) He begged again to thank them for their
kind recognition of their services.
Mr. LLOYD moved a cordial vote of thanks to
the chairman, at the same time expressing the
great pleasure he was sure
.they all felt at seeing
him amongst them, and their fervent hope that he
might long be spared to preside over the manage-
ment of their affairs. (Loud cheers).
The vote was enthusiastitally carried, and the
chairman having briefly acknowledged their com-
pliment, at the same time stated that the business
for the present year, from the Ist of January,
already amounted to 11G policies for x,
(Hear, hear.) The proceedings then terminated.

THE SUN, LONDON, THURSDAY IWENING, FEBRUARY 4, 1869.

Closing Business
Share .NA3,IE. Paid. Price. don,
10 Agra Limited, A 1 all 11 111 11.1
10 DJ B ll 4 31 4
50 Albion
120 'Alliance. Limited
20 Auglo-Austrian
20 Anglo-Egyptian, lim all 1 19 181
20 Anglo-Hungarian
20 Anglo-Italian 1866, limited 10 6 5
40 Australasian
20 Bank of British Columbia all 1 i II
20 Do issued at 2pm
25 Bank of Egypt
20 Bank of Otago, lim.
25 Bank of South Australia all 31 3
50 Bank of Victoria, Australia 25 37 32
1') Bank of Aew Zealand all 17 19
50 British North American
20 Clia : tei ed of India, Austra-
lia, ad China
25 Chartered Mere. of India,
Loudon, and China
20 City
............... 1) 11 121
100 Colonial
25 3:1 41 4" 4
10 Consolidated, Inn.
50 Delhi and London, lim
50 East London, lim ............ 5 1, u,
2') English and American, liin 10 ... ... '2O English Bank of llio de Ja-
neiro. Ihn
'2O English, c eottish, and Aus
traliau Chartered ........ all 161 171 171
18,1 Bung Kong and Shanghai
Bank C0rp0rati0n......... all ... ... 281 Do new......... 51 1 1
100 Imperial, lim ................... 20 17 18
20 Imperial Ottoman ............ 10 1 11 111 1 2
s 5
lonian
all 25 2/
25 Do new.........., pr
20 Lud Mortgage of India, lim 4 8: 9j f
100 Du sp. c. Debs.lB64, 30 all 76 75 76
30 London Bank of Mexico
and South America, lint 20 6 4
100 London and Brazilian, lim. 45 32 28
20 Do new 71 61 51
100 London &River Plate, lint 40 6 8 461 7
25 Do new 10 11 11
20 London Chart. of Australia all 221 '231
50 London and County 2O 491 501
20 Do new iss at 20 p.m, 16 pd ll ... ...
50 London Joint 5t0ck........, 1 32 63 82 14
20 Loudon and South African al 1 / 12 101
100 London & S.-Western, lim, 20
..,
50 Loudon & Venezuela, lint,. 121 ...... ~.
100 London and Westminster 2O 61 62 61
100 Do Scrip, iss at 10 pin 2O 59 61
100 Merchant, lim 2.5 6 4
10 Metropolitan, lim all 61 71
100 Midland, lim 2O ld
pr
5 National of Australia
25 National of Liverpool, lim l5 3 1 d
100 National Provinc. of Eng'd 42 .
10 Do . 42 ... ... 40
10 National. lO 46 48 .
20 New South Wales all 42 43
20 North-Western 74
2.5 Oriental Bank Corporation all 411 411 42
50 Provinc. Bank. Corpo., lim lO 6 51
100 Provincial of Ireland 25 88 90
10 Do now.. all
...
100 Stand, of Brit. S. Africa, Bin 25 ii 11
100 Do issued at 6 pm. 10 ... ...
25 Union of Australia all 43 47
100 Union of Ireland, lim
50 Union of London

all 20; 211

MISCELLANEOUS.