The Sun.
London, England, 1869-06-28 00:00:00

73
E&I 0 § 0
6 Amount da. Amount Annual
r, a 0 Z o Proposed. zI; Assured. Premiums.
p.,
o'4; 1:4
£ s. d. £ ' s. d. £ s. d.
1838 4,802 1,023,140 0 0 3,318 1'54,140 0 0 21,347 16 5
1863 13,244 2,779,666 0 0 9,746 2,037,383 0 0 63,507 19 10
1868 17,466 i 4,861,303 5 9 13,699 3,752,967 4 8 122,257 17 6
-
Total.. 35,512 8,664,109 5 9 26,763 6444,490 4 8 207,113 13 9
The net premium income has increased to
the sum of £216,704 1 7
- - -

The net premium income
the sum of ..
The interest on investmon
of receipt yield

s and otheritems

1,276 18 1

Making a total income of ,E 237.980 19 8
The claims were 335, amounting to the sum of .£127,886
12s. id.

The balance of the year's income was £63,026 9s. 4d.
The assets of the association at the close of the year
amounted to £667,493 Bs. sd.
The directors draw special attention to the fact thrt the
next bonus valuation will take place at the end of the year
1872, and that all polices effected on the profit scales prior
to the 31st December, 1869, will be entitled to participate
in the same.
The directors also draw attention to the successful esta-
blishment during the past year of the Britannia Fire
Association, under the auspices of the Briton. The direc-
tors believe that the establishment of a Fire Company, to
work in active co-operation with the Life, will tend much
to the advantage and profit of both institutions. It is
scarcely necessary to remark that the capital funds and
constitution of each office are quite separate and distinct.
By order of the Board,
JOHN MESSENT, Actuary and Secretary.
London, March 18, 1869.

VAGLE INSURANCE COMPANY,
-11.4 • LONDON.

Report of the Directors for the year ending the 80th
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. The 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, 30nINJUYE, 1868.
DR. INCOME OF THE YEAR.
Balance of account, 30th
June, 1867, £981,514 13 9
Less amountlistributed
as bonus 208,774 0 0

£772,7.10 13 9
Premiums 01 new assur-
ances
Ditto on old ditto 366,215 7 3

£380,811 8

Interest from invest-
ments 117,584 7

£498,395 15 11
Profit and loss, balance
of account
Total income 544,466 9 2

£1,5,7:207 2 11
CR. CHARGE OF THE YEAR
Dividend to proprietors
Cla;ms on decease of lives
assured £265,52313 5
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

4370,618 5 3
Commission
Medical fees

Income tax 2,6.8
Expenses of manage-
ment 15,489 8 5
400,777 9 5

Total charge ..
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 tho 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 5i
per cent. on the total income.
The balance-sheet is as follows :
Dn. LIABILITIES.
Interest duo to proprietors
Claims on decease of lives assured, and
additions thereto unpaid
Sundry accounts
Liability under sums assured, &c. (1867) 6,369,469 11 7
Proprietors' fund
Surplus fund as before 907,552 8 6

Total £7,565,198 1 3
Cu. ASSETS.
Amount invested in fixed mortgages £1,460,772 2 7
Ditto ditto decreasing ditto
Ditto ditto reversions 347,136 5 5
Ditto ditto funded securities
Ditto ditto temporary securities
Current interest on the above invest-
ments
Cash and bills 22,604 2 9
Advanced on security of the company's
p01icie5....•159,503 14 9
Agents' balances
Sundry accounts
Value of premiums (1867)
5
Value of re-assurances 4,8066:916607
11 0
,8
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 comparing it with that of 1867, it
ill be 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 :
The Right Hon. Sir JOHN YOUNG, Bart., K.C.B. Chair-
men.
WILLIAM FREDERICK DE LA RUE Esq., Deputy-
Ch airm an.
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 Sambrooke,
Esq.
Admiral Tiadal.: