The Sun.
London, England, 1866-02-08 00:00:00

THE SUN, LONDON, THURSDAY EVENING, FEBRUARY 8, 1866.

Provident Clerks' Mutual Life Assurance
Association.

The twenty-fifth annual general meeting of mem-
bers of this association was held last evening, at
the London Tavern, to receive the report of the
directors relative to their position and business
transactions during the last twelve months.
The chair was occupied by R. H. Jones, Esq.,
chairman of the board of directors.
The advertisement convening the meeting having
been read,
The CHAIRMAN called upon the Secretary (Mr.
Linford) to read the report, which was as
follows :
The Board of Directors have much pleasure in presenting
to the members their 25th annual report, and in repeating,
as they have been able to do for many successive years,
that the new business of the past twelve months surpasses
that of any previous year.
The total proposals received were 1,546, for £288,000;
of which 1,353, for £241,350, were accepted and completed,
producing a new annual income of £6,774. The remainder
were either declined, or deferred, or aro now awaiting

completion.
The total income for the year was £62,826 6s. 2d., and
the sum of £6,195 10s. has also been received for sale of
immediate annuities.
After providing for all known claims, the sum of £34,695
4s: 6d. has been added to the accumulated fund, which
amounted on the 31st December last to £284,744 7s. sd.
The claims by death (including bonuses) amount to
£20,755 4s. 10d., arising upon 113 policies.
The close of the year 1865 affords the directors an oppor-
tunity of laying before the members the following tabular
statement, which exhibits the progress of the Association
dnring the quarter of a century it has been in existence :
Annual Accumulated
New Amount Income at Fund at end
Policies. Assured. end of period. of period.
let 5 years... 567 ~. £52,699 ... £2,400 ... £6,200
2d do. ...2,184 432,075 12,300 29,150
3d do. ...2,249 434,720 20,750 63, 500
4th do. ~.3,775 ... 648,310 36,500 146,000
sth do. ...5,207 _1,065,300 ... 62,800 ... 284,700
The board have to report with much regret the decease
of W. G. Prescott, Esq., one of the trustees ; they have,
however, been so fortunate as to secure a new trustee in
the person of Robert Wigram Crawford, Esq., M.P. for the
City of London.
They have also to regret the retirement of Mr. Ratray,
who having relinquished the active duties of his profes-
sion, has resigned the office of consulting actuary, which
he has held from the commencement of the association.
To fill the vacancy thus created, the board have appointed
Mr. Robert Tucker, Vice-President of the Institute of
Actuaries, consulting actuary.
The following directors retire by rotation, viz. :—Mr.
Alexander Dawson, Mr. Samuel Jepps, and Mr. James
Lintott, all of whom being eligible offer themselves for
re-election.
The following gentlemen, duly qualified, are proposed
as auditors : —Mr. James Richard Lloyd, Mr. Francis
Frederick Toole, and Mr. Charles Woolley.
In concluding this report, the board desire to direct at-
tention to the fact that with a constantly increasing
amount of new business, they have been enabled to meet
their members year by year with regularly diminishing
ratio of expenditure. That a combination so important to
the success of a life assurance office maybe still maintained
the efforts of the board will not be wanting, but they
nevertheless feel justified in claiming the co-operation of
the members themselves, which is the true strength of a
mutual association.

The CHAIRMAN, in moving the adoption of the
report, said another year had slipped away since he
had the pleasure of seeing some of them, and he
hoped that in addressing them for the twenty-fifth
year they would have an agreeable and pleasant
meeting. All their former assemblages had been
marked by that happy feeling, and he hoped the
present would be in consonance with those he had
referred to. The recurrence of this their annual
meeting brought forcibly to his mind that another
year had irrevocably gone, and it impressed upon
him the reflection whether he had done all he could
as an individual for the success of the institution.
It having been his happiness to be connected with
the association for so many years, he need not say
he was warmly attached to it—(hear, hear)—and it
was a feeling of pride and pleasure for him to watch
it year after year increase in prosperity and useful-
ness. The watchword of the present age was
" Progress," and he hoped the directors might be
permitted to say they had adopted it. (Hear, hear.)
The transactions of the past year showed an increase
over all its predecessors; the proposals for new assur-
ances during that period had been 1,546, of which
1,353 had been completed, by which the annual
income was increased to the extent of £6,774.
(Hear, hear.) There were some of the new pro-
posals still under consideration, but the total income
for the year was £62,826 6s. 2d. (Cheers.) They
did not appear to have lost ground from the Go-
vernment assurances, which were established to
promote £lOO assurances. It was quite true
that he was not in a position to show
that those who had assured with the Government
would have come to them if no Government assur-
ance existed, but it was true that their business had
in no way suffered in consequence, as a comparison
between the business transacted in 1864 and 1865
would show. In 1864 this association had assured
652 lives for £lOO and under, while last year they
had 950 assurances for £lOO and under. (Hear,
hear.) He thought that fact was quite enough to
create confidence, and that it ought to show them
that they ought not to be deterred from the energy
kitherto exercised, but rather to induce competi-
tion with the Government. (Hear, hear.) The
balance sheet was before them. It had been made
up in a clear, comprehensive, and intelligible man-
ner, and although the claims from deaths no doubt
had increased, compared with former years, yet it
should be recollected that deaths must be increased
according as their liabilities enlarged. (Hear.)
It was a great pleasure, however, to know that 113
families had been provided for by the prudence and
forethought of their deceased members. The ave-
rage interest on their investments for the last
year averaged fully 44 per cent. On the last occa-
sion that he had addressed them they had £20,000
standing in the 3 per Cents. Last year they had
lent £15,000 of that stock at 4i per cent., by which
they obtained 1} per cent. more than if it had re-

mained in the Funds. (Hear, hear.) He also
directed attention to a receipt on account of rent
for an office which they had let to the Provident
Clerks' Guarantee Association, thereby reducing
still further their expenses. Referring to the
Guarantee Association, in which so many of their
members were interested, he had the pleasure to in-
form them that it was now in full operation, and
he trusted that all the members would do their best
to promote its prosperity in every way within their
power. The death of Mr. Prescott, one of
their trustees, was a matter of great regret to
the directors, and he felt certain that the
great body of assurers would participate in that
feeling. Mr. Prescott was an affable, kind, and
courteous gentleman, always ready to render the
association every assistance in his power. In
selecting a successor to Mr. Prescott, they had, he
thought, been particularly fortunate in obtaining
the services of a gentleman of high standing and
influence in:society—Mr. R. W. Crawford, one of
the members for the city of London ; and the mem-
bers generally would be certain to participate in the
pleasure the directors felt at that gentleman
becoming one of their trustees. Last year he WAs
congratulating the members on the happiness that
prevailed owing to the long association and unani-
mity that prevailed amongst the executive ; but a
gap had since then happened, and now they had also
to regret the retirement of Mr. Ratray. 11l health
had compelled that gentleman to relinquish the
active duties of his profession, and with it

that of consulting actuary of their association.
The directors, he knew, had but anticipated the
wishes of the great body of the assurers in present-
ing Mr. Ratray, on his retirement, with a small

testimonial, engraved with a suitable inscription,

the cost being but £26. (Hear, hear.) ThememL

bers would also be pleased to know that they had

secured the services of Mr. Tucker, vice-president
of the Institute of Actuaries, as successor to Mr.
Ratray, and he had come amongst them that

evening, and, with his high character, he was quite

certain to take good care of them in all matters that

appertain to his office. (Hear, hear.) He doubted
not that many of them would miss the face of one
of the most valued and oldest friends, viz., Mr.
Welch, their deputy-chairman. His absence was
caused through ill-health ; otherwise it would have
been a pleasure to have been with them that
evening, and to have occupied the seat he had done

for so many previous years. With these few obser-
vations he would conclude by formally moving the
Adoption of the report. At the same time he incited

any gentleman to make any observations, and the
Directors would be only happy to hear him.
Mr. SAWTELL said it gave him the greatest plea-
sure to second the motion of the Chairman.
Mr. WARWICK made a few observations relative
to lapsed policies, and said he thought it unwise on
the part of the Directors to be too stringent in their
decisions. It appeared, however, by the speaker's
own showing that no premiums had been paid on
the policy for nearly two years, and that the rules
expressly forbade the revival of a policy after it had
been in arrear a year and 14 days.
The SECRETARY, at the request of the Chairman,
explained the circumstances connected with the
matter, and said the Directors, while they regretted
the fact of a single policy lapsing, had certain rules
imposed upon them for their guidance and the pro-
tection of assurances which it was impossible for them
to disregard. (Hear, hear.)
Mr. LLOYD said it would be fatal to the prosperity
of the association if the rules were broken through
to meet particular cases. The benevolent fund was
open to all, and if that was not taken advantage of
it certainly was not the fault of the directors. The
directors in the case referred to had done nothing
but their duty.

The adoption of the report was then put, and
carried unanimously.
Mr. REYNOLDS said he had the greatest pleasure
in moving a vote of thanks to the directors for their
services during the past year.
Mr. PILCHER briefly seconded the motion, which
was carried unanimously.
The CHAIRMAN, in returning thanks, said it was
a great happiness to him that there should be such
unanimity in agreeing to the resolutions submitted
to the meeting. For himself and colleagues he
begged to thank the meeting for the kindness with
which the vote had been proposed, and the plea-
sant manner in N%hich it had been received.
The retiring directors, Messrs. Alexander Daw-
son, Samuel Jepps, and James Lintott were unani-
mously re-elected, as were also the auditors, Messrs.
J. R. Lloyd, F. F. Toole, and C. Woolley, and
their remuneration fixed the same as last year.
Mr. A. DAWSON, on the part of the re-elected
directors, returned thanks, and said he and his
colleagues would do all in their power to enlarge
the scope and heighten the prosperity of the society.
Mr. F. F. TOOLE, on the part of the re-elected
auditors, testified to the admirable manner in which
the accounts of the association were on all occasions
placed before his colleagues and himself, and acknow-
ledged the great assistance which Mr. Lloyd afforded
as one of the auditors. Mr. Toole also suggested,
as he reminded the meeting he had before done,
that a large meeting should be held alternate years
in the City and the West-end, independent alto-
gether of their regular annual meetings, and that
all the clerks of the metropolis be invited to attend.
He believed that this would be the means of making
the benefits arising from connection with the asso-
ciation better known, and would bring to them
many new members.

Votes of thanks to the directors, auditors, secre-
tary, and the general staff of the association were
then accorded, and a similar compliment to the
chairman cancluded the business.

The New Reform Bill.

DEPUTATION TO EARL RUSSELL.—THIS DAY.
A very numerous deputation from the National
Reform Union and the deputation appointed at the
recent meeting held in Leeds, waited by appoint-
ment to-day on Earl Russell at his official residence
in Downing-street, in order, if possible, to ascer-
tain the nature of the measure about to be intro-
duced into Parliament. A great number of the
Liberal members of the House of Commons accom-
panied the deputation. Mr. G. Wilson introduced
the deputation, and informed his lordship that it
consisted of various members of the National Re-
form Union, which originated entirely on the part
of the working men who desire to become enfran-
chised.
Mr. WAINWRIGHT addressed his lordship, and said
the movement which was now taking place with re-
spect to Reform, was now in the hands of those in
whom the working classes had the greatest confi-
dence ; but any measure which did not admit a

arge proportion of the working class to participa-
tion in the government of the country would not be
received at all. (Hear, hear.) The working class,
he begged to inform his lordship, had fully made
up their mind to reject all sham measures. It
had been said out of doors that the difficulty
that existed was whether the new Reform Bill was

to be based on a £6 rating or a £6 rental qualifica-
tion. Now the number of working men that would
be admitted to the exercise of the elective franchise
if a £6 rating was adopted would be so small that
it would not be worth accepting. The time had come
to test the sincerity of the Liberals, and that test they
hoped his lordship would apply. The proposition
of a £lO rental for counties and a £6 rental
suffrage for boroughs would be generally accept-
able for the present. It would settle the matter
forsome time, but a£6 rating qualification would be
generally and universally rejected by the working
class, than whom a more loyal class of men did not
exist. He hoped his lordship would insist upon such
a measure as would satisfy the working class. If
he did so they would rally round him by millions,
and create such a movement that all opposition
would be useless and futile. (Hear, hear.)
Mr. PRICE said he claimed the franchise for the
working class as a right, because their united income
amounted to £250,000,000 per annum, whilst that
of those who opposed them did not come up to
anything like that sum. (Hear, hear.) The work.
ing men of the north of England were ready to
accept any bill, supposing it to be anything like
that which his lordship had on a former occasion
promised the working class. (Hear, hear.) He
advised his lordship
to take a firm stand on
the enfranchisement point—on that alone—and the
working men would give him such a support
that would break down all opposition and sweep
away every obstacle. The men in the north recol-
lected his lordship's declaration in 1831, and he felt
a more fitting close to a long and glorious career of
statesmanship could not be than the carrying of a
bill which admitted a great body of the industrious
classes to the exercise of the elective franchise.
(Hear, hear.)

Sir F. CROSSLEY said, as a member of the Liberal
party in the House of Commons, he thought it better
his lordship should know what measure would be
acceptable before it was brought forth. No true
reformer could be in favour of a rating clause, and
therefore it was but wise and prudent to adopt that
which would meet with the greatest support. He
knew the difficulty there would be in passing a £6
rental clause through the Muse of Commons, but
whether it be that or a higherfigure that was adopted
—(no, no)—an admission to the franchise of a
great body of the working class was now urgently
demanded,

Mr. HIBBERT, M.P. for Oldham, and several
other gentlemen having spoken on the subject of
an extension of the suffrage,

Earl RUSSELL said he had listened with
great interest and pleasure to the various
speakers who had addressed him. He did
not require to be reminded of the industry,
providence, forbearance, loyalty, and attachment
to the honour of the country by the industrious
classes. Of that he was well aware—(hear,
hear)—and the ability with which he had
been addressed showed most convincingly
the state of intelligence in which that class
had advanced. (Hear, hear.) It could not be
expected that he could state the nature of the mea-
sure Government proposed to introduce into Par-
liament. He would take care that the statements
he had heard that day should be placed be-
fore his colleagues, and the deputation might
rely that they would adopt the measures best
adapted for the welfare of the country. He would
carefully consider the whole of the statements that
had been made to him.

The members of the deputation, having thanked
his lordship for the attention he had given them,
withdrew.

PROVIDENT CLERKS' ASSOCIATION.—We beg to
direct our readers to the ♦ory satisfactory report of this
Association, whose 25th Annual General Meeting is re-
ported in our columns of to-day.

AMERICA.

(REUTER'S TELEGRAMS.)
ARRIVAL OF THE HANSA.

SOUTHAMPTON, Feb. 8.
The North German Lloyds' steamship Hansa., froniNew
York, on the 27th ult., has arrived. She brings 78 passen-
gers, a large cargo of tobacco and cotton for Bremen,
$12,000 for England, $121,100 for France, and $15,000 for
Bremen.
On the 31st ult. she spoke British steamer Virginia.
Her news has been anticipated.

POLICE INTELLIGENCE.—This Day.

MARLBOROUGII-S TREET.

A SURGEON CHARGED WITH BEGGING.—Goorgo Wilkins,
surgeon, of No. 1, Elliott's-cottages, Blackheath, was
charged, before Mr. Knox, with being drunk and begging.
Police-constable Wood, 80 C, said that on the previous
afternoon he saw the prisoner stop a gentleman in Picca-
dilly, and ask for assistance, at the same time exhibiting
his left hand, which was swollen. He cautioned the pri-
soner, who was drunk, and afterwards saw him stop
another gentleman, who stepped aside to avoid him. The
prisoner then walked into an hotel, and the persons there
having some trouble to get rid of him he took the prisoner
into custody.

The prisoner said he had been fearfully unwell of late
from gout in the hands, and that had brought him to his
present condition. He went to the hotel to see a gon-

tleman.

Mr. Knox said tho prisoner complained of being unwell
and having the gout in his hands, and yet got drunk. He
should commit him for seven days.

MARKETS.—This Day.