The Sun.
London, England, 1869-03-22 00:00:00

to policy-holders to pass the winter or a portion of the
Sear out of Europe with.mt imposing a fine of 10s. per
cent. on the sum assured.
TuLLoca urged the settlement of claims arising
upon policies without the delay of six months, as at pre-
sent.

GEDGE suggested that the accounts and report
should be circulated two or three days before the meeting.
Mr. BARRON recommended 30 days' grace instead of 15
for payment of premiums, and a more early settlement of

Mr. SritaouE preferred that they should remain as they
Were, adding that by submitting to the deduction of a
Small percentage claims might be received almost as soon
I's they arose.
The CHAIRMAN, in answering the questions, said that
the period at whit i the claims were payable after the
death of the policyholder, was an element in the calcula-
tion of the rate of premium, and if they were paid imme-
diately without deduction they must Dither alter the rate
Of premium or diminish the reserve, otherwise there
Would be a considerable reduction in the profits. When
hilmediate payment was desired 5 per cent. discount was
charged, which, considering that the premium rate was
'ass than that charged by other offices, was not heavy.
Permission to go abroad for purposes of health might be
obtained on the production of a medical certificate. The
directors thought there was risk in going abroad, but in
order not to be behindhand in liberality they had granted
the privilege on an extra payment of 55., if the declaration
Was made when the policy was taken out ; but the first
Year they took the ss. it resulted in the society being
called upon to pay £3,000.
A Shareholder asked whether it was an extra risk ?
Mr. DOWNES—Yes, decidedly.
The CHAIRMAN further remarked that the annual re-
ports could always be had a week before the meeting; but
the quinquennial report could not bo got ready in time for
circulation prior to the meeting. The extra claims of the
Past five years had arisen from a rate of mortality which
they had no right to expect, and by an unfortunate coin-
cidence it had fallen chiefly upon the large policyholders.
48 the policyholders grew older the reversionary bonus
necessarily became less, but the cash payment in lieu of
the reversion was more. The calculations of the society
Were so well based that if they were to wind up to-mor-
z.err the safety of the office would be in no way impaired,
and they would be able to pay all claims. (Cheers.) He
moved the adoption of the report.
~,This was seconded by the Right Hon. B. P. BOETERIB,
.4•P.,:and carried unanimously.
, The bonus and contingent bonus were declared, and
the retiring directors and auditors having been re-elected
and thanked for their services,
Mr. BOWLEY said he was quite certain a great labour
had to be encountered in making the quinquennial calcu-
lation, and that the meeting would really feel it a pleasure
to give its thanks to the able actuary for the manner in
Which the work had been performed.
• A POLICYHOLDER begged, as one of the oldest insurers
Present, to second the proposition. It was, in truth, a
Pleasure and a privilege for him to do so. Ho might also
be allowed to compliment the society on the admirable
Working staff they possessed.
Mr. DOWNES said he felt greatly the complimentary
Way in which his services had been noticed. It was ex-
ceedingly pleasurable when past exertions were so kindly
recognised, and he need hardly say the success and pro-
-BPerity of the society was Lis greatest pride and pleasure.
(Cheers.)
Mr. GRIMES, the secretary, also returned his thanks for
the compliments awarded to himself and the staff.
The proceedings then terminated.

IIONEY MARKET

AND
COMMERCIAL INTELLIGENCE.

CITT, Two O'CLOCK.

Consols are 934 3 for money ; ditto, for Ac-
onunt, 931 ; Three per Cent. Reduced, 914 4 ;
New Three per Cents, 914 4 ; ditto 25 per Cent.,
'1,411- 1891, 745 ; Exchequer Bills £l,OOO, 25 per
‘-;ent., 4 pm ; ditto 1100, £2OO, and £5OO, 4 pm.;
Lank of England Stock, 4 per Cent., shut.
India Stock, 104 per Cent., April, 1874, ;
dittoit 5 per Cent., July, 1880, 1121 ; ditto 4 per
r,
"at., Oct., 1888, 1001 ; ditto Eufaced raper 54
ter Cent., May, 1879, 1104.
In the Railway Market the following are the
quotations:—London and North Westerd, 114/
315 i; Great Western, 494 4 ; Midland, 1164 1;
London and South Western, 87 9 ; Great Eastern,
37 i; Brighton, 494 4 ; South Eastern, 761 5 ;
Metropolitan, 1031 4 ; Great Nerthern, 1074 8 ;
ditto A 1074 8 ; Caledonian, 791 4 ; and London,
Chatham, and Dover, 164 17.
In the foreign market Brazilian of 1865 and
Spanish of 1867 have advanced 4 to f per cent.,
while Italian of 1861 and Turkish of 1865 have
declined 4 to 4. Annexed are the prices :
Brazilian of 1865, 804 to 80/ ; Chi!ian of 1867,
344 to 954 ; Egyptian of 1861, 89 to
894 ; ditto of 1868, 76 to 761 ; Italian of 1861,
554 to 555 ; ditto of 1868, 84 to 85 ; Mexi-
can, 141 to 151-; Peruvian of 1865, 791 to 4 ;
Russian of 1866, 934 to 945 Nicolai, 67 to 5 ;
Orel, 824 to 1; Moscow, 794 to 804 ; ditto
Charkof, 774 to 78 ; ditto Charcow, 774 to 4 ;
Spanish, 1867, 311 to 1 ; Turkish of 1858, 63 to
; ditto of 1862, 664 to 674 ; and ditto of 1865,
411 toy.
American 5-20 Bonds are 834 to 4, being 4 per
cent, lower; Erie Railway shares, 241 to 4.

The market for bank shares is dull. London and
County, 5!,- to ; London Joint Stock, 321 to t ;
London and Westminster, 64± to 4 ; and Imperial
Ottoman, 2k to prem.
La miscellaneous shares, Hudson's Bay has
dropped to 13
A further sum of £20,000 in bar gold has been
withdrawn from the Bank for shipment to the
Continent.
The failure of Messrs. Hunter, Finlay, and Co.,
calico printers and merchants in Glasgow, is re-
Ported. The liabilities are from £60,000 to
fa 1170,000 not above £4,000 or £5,000 of which will
in Manchester. The assets are said to be con-
t 'ji:l_ i
ae r

~
ith regard to the Trouville Association
(xLimited), and the proposed subscription of
400,000 in debentures on a mortgage of the pro-
perty, it is stated that the purchase money is to be
'290,000, payable in instalments, and that the
balance of £llO,OOO is to be applied to the develop-
ment of the estate.
.According to a circular of Mr. F. Andres on the
Il,nes of the Voslau district, near Vienna, the Aus-
trian 7 vintage of 1868 has been a fine one, and the
quantity will be very large.
_,According to the last accounts from Mexico the
unject of General Negrete's pronunciamiento at
Puebla
was simply to capture a conducta with
£600,000 in specie for Vera Cruz—a plan which
Wan discovered in time to be frustrated. He was
met and routed by the national troops.
report by Mr. Consul-General Playfair on
Alter a, just published, it is stated that during the
'iaa Years succeeding the conquest of the country it
Only cost France £2,423,245—" a sum by no
means
eane extravagantly large, and which is amply
balanced.l. by the benefits, both moral and material,
"'tell it has produced."
e. The Mortgage Debentures of the Trouville Asso-
latton are quoted to 1 prem.
kingdom
traffic receipts of the railways in the United
'ingdom for the week ending March 14, amounted
0"
a 13,420 miles to £704,360, and for the corres-
,tlilding week in 1868 on 13,216 miles to £668,143,
4°Wing an increase of 204 miles, and of £36,217 in
lite receipts. The gross receipts on the 14 principal
nee in the United Kingdom amounted for the week
°491752 miles to £588,166,and for the corresponding
N/eek of last year on 9,576 miles to £561,679 show-
ing an increase of 176 miles, and of £26,487 in the
jeeipts. The traffic receipts on 52 other lines in
" United Kingdom amounted on 3,668 miles to
£116,194, and for the corresponding week of last
Year on 3,640 miles to £106,464, showing an in-
crease of 27 miles, and of £9,730 in the receipts.
The total receipts of the week as compared with
bic'se of the previous one, ended the 7th inst., ex-
tit a decrease of £3,045.
Ile accounts from the Red River territory with
regard
eto the prospects of the North-Western fur
j°P for the present season state that from perhaps
" excessive " catch" of last year mink arc not
Zlikely to yield over one-half the usual number. The
healso is caught in far less number than last year.
a Yield of otters, beavers, martens, rats, fisher,
t1(1 foxes will be about the same as that of last year ;
chile the number of the skins of the skunk will be
ZrgelY in excess. The buffalo—erratic always—
jellied of late to have almost deserted tho terri-
rY; but the latest reports describe a return move-
'ent toward the Red River, so that for the spring
trade
a fair supply is yet expected.
The following telegram is from the Don Pedro