The Sun.
London, England, 1869-07-28 00:00:00

Report of the. Directors for the year ending the 30th
June, 1868, read at the Annual General Meeting of
Proprietors, August 14, 1868—Colonel CHARLES
WETHERALL, K.C.T., Chairman of the Company, in
the Chair.
The proprietors will no doubt remember that at the last
annual general meeting a report was made to them for the
quinquennial period then terminating, and that a bonus
was declared in respect of it amounting to the sum of
£208,774. Tho surplus fund account, as under, commences
with the balance of June, 1867, after deduction of this
bonus—that is to say, with the debit of £772,740 13s. 9d.

SURPLUS FUND ACCOUNT, 30TH JUFE, 1868.
DR. INCOME OF TILE YEAR.
Balance of account, 30th
June, 1867, £981,514 13 9
Less amount 1 istributed
as bonus 208,774 0 0

Premiums en new assur-
ances
Ditto on old ditto 366,215 7 3

£380,811 8

Interest from invest-
menu 117,584 7

£772,740 13 9

£498,395 15 11
Profit and loss, balance
of 46,070 13 3
account
Total income
X 1,517,207 2 11

. .
CR. CHARGE OF THE YEAR
Dividend to proprietors
Cla;-ns on decease of lives
X 265,523 13 5
assured
Additions to those under
participating policies 22,816 4 7
Policies surrendered 28,642 11 3
Re-assurances, new
Ditto, old 50,365 0 8
-- -

£370,618 5 3
Commission
Medical fees
Income tax ... 2,215 4 7
Expenses of manage-
8 5
ment. 15,489
------ 400,777 9 5

Total charp
Balance of account, 30th June. 1868 907,552 8 6

£1,317,207 2 11
Examined and approv
THOMAS ALLEN} Auditors
HENRY ROSE,
The total income of the year, it will be seen, is £544,466
9s. 2d., and the total outgo £409,654 14s. sd. ; the diffe-
rence, or the sum laid by-- viz., £134,811 14s. 9d.—raises
the fund again to £907,552 Bs. 6d.
The interest received during the year is £117,584 7s.
3d., arising from the productive portion of the realised
assets of £2,897,157, mentioned in the last year's report.
The whole assets, productive and unproductive, may there-
fore be considered as having improved at the rate of rather
more than 4 per cent. ; or, if the profit shown of £46,070
13s. 3d., derived from various extraneous sources, be in-
cluded, at upwards of £5 12s. per cent.
The premiums on new assurances are £14,596 ls. 9d.
and of this sum £3,270 15s. 4d. has been expended in re
assurances.
The claims on decease of lives assured are nearly iden
tical in amount with those of 1866. They are less than
those of last year by nearly £19,000.
A considerable reduction, too, appears in the amount
of premiums paid for re-assurance, many of the risks
re-assured having terminated by death and other causes.
The expenses of management are less than those of last
year by upwards of £1,400. But they still include charges
incurred in the final closing of the two officeslast absorbed
by the company. The whole expenditure, however, in-
cluding income tax, is at the rate of little more than 51
per cent. on the total income.
The balance-sheet is as follows :
DR. LIABILITIES.
Interest due to proprietors
Claims on decease of lives assured, and
additions thereto unpaid 61,530 4 5
Sundry accounts
Liability under sums assured, &c. (1867) 6,369,169 11 7
Proprietors fund
Surplus fund as before 907,552 8 6

. Total X 7,565,198 1 3
CR. ASSETS.
Amount invested in fixed mortgages X1,460,772 2 7
Ditto ditto decreasing ditto
Ditto ditto reversions 347,136 5 5
Ditto ditto funded securities 479,932 13 3
Ditto ditto temporary securities
Current interest on the above invest-

ments
Cash and bills
Advanced on security of the company's
policies—. 159,503 14 9
Agents' baltaces
Sundry accounts
Value of premiums (1867) ..... 4,506,167 18 0
Value of re-assurances 86,860 13 9

86,243 7 6
22,604 2 9

Total £7,565,198 1 3
Examined and approved.
THOMAS ALLEN,}
Auditors.
HENRY ROSE,
The present disposition of the Company's funds is shown
by this account. On ccmparing it with that of 1867, it
will bo observed that further investments have been made
on mortgage and in the Government funds, and that about
£ll,OOO more has been advanced on security of the com-
pany's policies. Exclusive of the sum indicating the value
of the future premiums, the assets amount to £3,059,030
3s. 3d.

The direction of the company is now constituted as
follows :
Tho Right Hon. Sir JOHN YOUNG, Bart., K.C.B. Chair-

man.
WILLIAM FREDERICK DE LA RUE Esq., Deputy.
Chairman.
Charles Bischoff, Esq.
Thomas Boddington, Esq.
Charles Chatfield, Esq.
Sir. J. Buller East, Bart.,
D.C.L.
Robert A. Gray' Esq.
Wm. Augustus Guy M.D.,

Chas. Thos. Holcombe, Esq.
Joshua Lockwood, Esq.
James Murray, Esq.
Philip Rose, Esq.
George Russell, Esq.
Thos. Godfrey Samb ooke
Esq.
dmiral